Document:

EX-10.1

 Exhibit 10.1 

VISTEON CORPORATION 

EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is entered into effective as of June 8, 2015 (the “Effective Date”), by
and between Visteon Corporation, a Delaware corporation (the “Company”), and Sachin Lawande (the “Employee”) to set forth the terms pursuant to which the Employee will serve as the Chief Executive Officer of the Company. 

In consideration of the mutual promises contained herein and of other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. POSITION AND DUTIES. 

(a) During the Employment Term (as defined in Section 2 hereof), the Employee shall serve as the Chief Executive Officer of the Company.
In addition, effective as of the commencement of the Employment Term, the Employee shall be appointed, and during the Employment Term re-nominated from year to year, to serve as a member of the Board of Directors of the Company (the
“Board”); provided that the Employee’s continued service as a member of the Board shall at all times remain subject to applicable law and to any and all nomination and election procedures in accordance with the Company’s charter
and by-laws. In the foregoing capacities, the Employee shall have the duties, authorities and responsibilities commensurate with the duties, authorities and responsibilities of persons in similar capacities in similarly sized companies, and such
other duties, authorities and responsibilities as may reasonably be assigned to the Employee from time to time that are not inconsistent with the Employee’s position with the Company. The Employee’s principal place of employment with the
Company shall be in Van Buren Township, Michigan, provided that the Employee understands and agrees that the Employee may be required to travel from time to time, both domestically and internationally, for business purposes. The Employee shall
report directly to the Board. 
 (b) During the Employment Term, the Employee shall devote all of the Employee’s business time, energy,
business judgment, knowledge and skill and the Employee’s best efforts to the performance of the Employee’s duties with the Company, provided that the foregoing shall not prevent the Employee from (i) serving on the boards of
directors of for-profit and non-profit organizations, subject to the written approval of the Board, including service on one (1) board of directors as agreed to by the Company in advance of the Effective Date, (ii) participating in
charitable, civic, educational, professional, community or industry affairs and (iii) managing the Employee’s passive personal investments so long as such activities do not individually or collectively interfere or conflict with the
Employee’s duties hereunder or create a potential business or fiduciary conflict. 
 2. EMPLOYMENT TERM. The Company agrees to employ the
Employee pursuant to the terms of this Agreement, and the Employee agrees to be so employed, for a term of three (3) years (the “Term”) commencing on June 29, 2015 (or such earlier date as the Company and Employee may agree) and
extending through June 29, 2018, provided that if the Employee does 

 
not commence employment with the Company on or before June 29, 2015, this Agreement shall automatically terminate and be null and void on June 30, 2015 (except as provided in
Section 5(b) and 5(c) hereof). Notwithstanding the foregoing, the Employee’s employment hereunder may be earlier terminated in accordance with Section 7 hereof, subject to Section 8 hereof. If the Term is not earlier terminated
in accordance with Section 7 hereof, it will automatically terminate on June 29, 2018, without further action by the Company or the Employee unless both the Company and the Employee have, before that date, mutually agreed to an extension
of the Term. The period of time between the date that Employee commences employment hereunder and the date on which the Employee ceases to be employed by the Company pursuant to the terms of this Agreement (whether by reason of termination of the
Employee’s employment in accordance with Section 7 hereof or by reason of the expiration of the Term, without termination of the Employee’s employment by the Company) shall be referred to herein as the “Employment Term.”

 3. BASE SALARY. During the Employment Term, the Company agrees to pay the Employee an initial base salary at an annual rate of $1,000,000, payable
in accordance with the regular payroll practices of the Company, but not less frequently than monthly. The Employee’s base salary shall be subject to annual review by the Board (or a committee thereof) based on market trends, internal
considerations and performance. The base salary as determined herein and adjusted from time to time shall constitute “Base Salary” for purposes of this Agreement. 

4. ANNUAL INCENTIVE OPPORTUNITY. During the Employment Term, the Employee shall have an annual incentive opportunity, under the Company’s
annual incentive plan in effect from time to time for its senior executive officers, based on a target incentive opportunity of at least 100% of the Employee’s Base Salary (“Target Bonus”) and a maximum incentive opportunity of 200%
of the Employee’s Target Bonus, subject to the attainment of one or more pre-established performance goals established by the Board (or a committee thereof) in its sole discretion. Any annual incentive payable hereunder shall be paid in cash in
United States dollars the calendar year following the calendar year to which such incentive relates at the same time as annual incentive payments for such year are paid to other senior executives, subject to the Employee’s continued employment
at the time of payment, except as otherwise set forth herein. The Employee’s annual incentive opportunity for 2015 will be based on a target incentive opportunity of 100% of the Employee’s Base Salary (prorated on a daily basis), taking
into account his service as an employee of the Company, from the commencement of the Employment Term forward, provided that the payment of any such incentive compensation for 2015 shall be at the Board’s (or a committee thereof’s) sole
discretion. 
 5. INITIAL EQUITY GRANT AND SIGN-ON/BUY-OUT PAYMENTS. 

(a) On or as soon as administratively practicable following the commencement of the Employment Term, the Company will grant to the Employee an
initial equity compensation award with a grant date value equal to the product of (i) $5,000,000 and (ii) a fraction, the numerator of which is the number of calendar days remaining in the calendar year from the date of the commencement of
the Employment Term and denominator of which is 365 (collectively, the “Initial Equity Award”). The Initial Equity Award will be comprised of 25% restricted stock units vesting in three equal installments on the first three
anniversaries of the commencement of the Employment Term, 25% stock options vesting in three equal installments on the first three 

  
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anniversaries of the commencement of the Employment Term and having a seven year option term, and 50% performance share units vesting over three years on the same date or dates and the
achievement of the performance goals previously provided to the Employee as apply to other senior executive 2015 annual performance stock unit award agreements, in each case with the number of shares of Company common stock subject to such grants
being determined by the Board (or a committee thereof) based on the “fair value” of each grant type as of the date of grant as determined by the Company consistent with past practice and under applicable accounting standards. The
Employee’s Initial Equity Award shall be granted pursuant to and subject to the terms of the Visteon Corporation 2010 Incentive Plan and the Company’s forms of restricted stock unit, stock option and performance share agreements
thereunder, as determined by the Board (or committee thereof). During the Employment Term, the Employee shall be eligible for annual long-term incentive grants under the Visteon 2010 Incentive Plan or any successor plan, with award values, if
any, to be determined by the Board (or committee thereof) annually under Company policies then in effect which may take into consideration, without limitation, market practice, affordability, performance and any other relevant factors as the Board
(or a committee thereof) may determine. 
 (b) Within thirty (30) days following the Effective Date, the Company will, without
qualification except as provided immediately below, pay to the Employee, as an incentive to enter into this Agreement, $3,250,000 in a cash lump sum (the “Sign-On/Buy-Out Payment”), subject to applicable withholding; provided, that the
Company shall not be obligated to pay the Sign-On/Buy-Out Payment if the Employee fails to commence the Employment Term on or before June 29, 2015 due to the Employee’s refusal to assume his duties hereunder or the Employee engages in
conduct constituting Cause (other than a breach of Section 24 hereof) prior to the commencement of the Employment Term. If the Employee’s employment with the Company is terminated by the Company for Cause, other than for Cause based solely
on the Employee’s breach of Section 24 hereof, or voluntarily by the Employee without Good Reason before June 29, 2016, the Employee must repay to the Company 100% of the full amount of the Sign-On/Buy-Out Payment. If the
Employee’s employment with the Company is terminated by the Company for Cause, other than for Cause based solely on the Employee’s breach of Section 24 hereof, or voluntarily by the Employee without Good Reason on or after
June 29, 2016 and before June 29, 2017, the Employee must repay to the Company 50% of the full amount of the Sign-On/Buy-Out Payment. 

(c) On or as soon as administratively practicable following the commencement of the Employment Term, as an incentive to enter into this
Agreement, the Company will grant to the Employee a time-based equity compensation award with a grant date value equal to $3,250,000 (the “Sign-On/Buy-Out Equity Award”). The Sign-On/Buy-Out Equity Award will be comprised of 100%
restricted stock units with the number of shares of Company common stock subject to such grant being determined by the Board (or a committee thereof) based on the “fair value” as of the date of grant as determined by the Company consistent
with past practice and under applicable accounting standards, and shall become vested with respect to 100% of the shares of Company common stock subject to the Sign-On/Buy-Out Equity Award on the third anniversary of the commencement of the
Employment Term, assuming the Employee remains continuously employed by the Company through such date (except as provided below). The Employee’s Sign-On/Buy-Out Equity Award shall provide for dividend equivalents in the form of additional
shares of Company common stock to be subject to the Sign-On/Buy-Out Equity 

  
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Award in the event of the issuance of dividends on shares of the Company’s common stock, which additional shares shall be subject to the same terms and conditions of the Sign-On/Buy-Out
Equity Award. The Employee’s Sign-On/Buy-Out Equity Award shall be granted pursuant to and subject to the terms of the Visteon Corporation 2010 Incentive Plan and the Company’s form of restricted stock unit agreement thereunder, as
determined by the Board (or committee thereof); provided, that upon any termination of the Employee’s employment by the Company for Cause based solely on the Employee’s breach of Section 24 hereof, without Cause or by the Employee for
Good Reason at any time, the Sign-On/Buyout Equity Award shall, to the extent then unvested, become fully and immediately vested and settled; provided, further, that should there be a failure of the Employee to commence the Employment Term on or
before June 29, 2015, for any reason, other than due to the Employee’s refusal to assume his duties hereunder or conduct constituting Cause (other than a breach of Section 24 hereof), the Company shall pay to the Employee within
forty-five (45) days following the Effective Date a cash lump sum in the amount of $3,250,000 in satisfaction of the Sign-On/Buy-Out Equity Award, unless the Employee engages in conduct constituting Cause prior commencement of the Employment
Term; provided, further that upon any termination of the Employee’s employment by the Company for Cause not based solely on the Employee’s breach of Section 24, hereof or by the Employee without Good Reason at any time, the
Sign-On/Buyout Equity Award shall, to the extent then unvested, forfeit and be cancelled in its entirety as of the date of such termination of employment. 

6. EMPLOYEE BENEFITS. 
 (a) BENEFIT
PLANS. During the Employment Term, the Employee shall be entitled to participate in any employee benefit plan that the Company has adopted or may adopt, maintain or contribute to for the benefit of its executive employees generally (including,
without limitation, any supplemental executive retirement plan and any other program or arrangement available only to senior officers of the Company), subject to satisfying the applicable eligibility requirements, and except to the extent such plans
are duplicative of the benefits otherwise provided hereunder. The Employee’s participation in the employee benefit plans of the Company will be subject to the terms of the applicable plan documents and generally applicable Company policies. For
purposes of the Company supplemental executive retirement plan, the Employee shall be an “elected Corporate Officer” eligible to participate in that plan and shall become vested in his supplemental executive retirement plan benefit based
on the terms and conditions of the supplemental executive retirement plan, as amended from time to time. Notwithstanding the foregoing, the Company may modify or terminate any employee benefit plan at any time. 

(b) VACATION. During the Employment Term, the Employee shall be entitled to four weeks of paid vacation per calendar year (as prorated
for partial years), subject to the Company’s policy on accrual and use applicable to employees as in effect from time to time. 
 (c)
BUSINESS EXPENSES. Upon presentation of reasonable substantiation and documentation as the Company may specify from time to time, the Employee shall be reimbursed, in accordance with the Company’s expense reimbursement policy as in
effect from time to time, for all reasonable out-of-pocket business expenses incurred and paid by the Employee during the Employment Term and in connection with the performance of the Employee’s duties hereunder. 

(d) PROFESSIONAL FEES. Upon presentation of appropriate documentation, the Company shall reimburse the Employee for up to $10,000 of
reasonable professional fees incurred in connection with the negotiation and documentation of this Agreement and related agreements hereunder. 

  
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 7. TERMINATION. The Employment Term, but not Employee’s employment with the Company, shall terminate
upon the expiration of the Term on June 29, 2018, without further action by the Company or the Employee, unless they have, before that date, mutually agreed to an extension of the Term. In addition, both the Employee’s employment and the
Employment Term shall terminate on the first of the following to occur: 
 (a) DISABILITY. Upon ten (10) days’ prior
written notice by the Company to the Employee of a termination due to Disability. For purposes of this Agreement, “Disability” shall be defined as the inability of the Employee to have performed the Employee’s material duties
hereunder due to a physical or mental injury, infirmity or incapacity for 180 days (including weekends and holidays) in any 365-day period as determined by the Board in its reasonable discretion and the findings of a physician mutually selected by
the Company and the Employee (or the Employee’s representative). The Employee shall cooperate in all respects with the Company if a question arises as to whether the Employee has become disabled (including, without limitation, submitting to
reasonable examinations by one or more medical doctors and other health care specialists selected by the Company and authorizing such medical doctors and other health care specialists to discuss the Employee’s condition with the Company). 

(b) DEATH. Automatically upon the date of death of the Employee. 

(c) CAUSE. Immediately upon written notice by the Company to the Employee of a termination for Cause. “Cause” shall mean:

 (i) the Employee’s conviction of, or pleading of guilty to, or entering a plea of no contest to, any felony or any crime involving
moral turpitude or misrepresentation; 
 (ii) the Employee’s willful failure or refusal to carry out the reasonable and lawful
directions of the Board concerning duties or actions consistent with the Employee’s position; 
 (iii) the Employee’s willful
misconduct against the Company constituting fraud, embezzlement, misappropriation of funds or breach of fiduciary duty; 
 (iv) the
Employee’s gross or willful misconduct resulting in substantial loss to the Company or substantial damage to the Company’s reputation; 

(v) the Employee’s material and willful violation of any material reasonable rules, regulations, policies, directions or restrictions of
the Company regarding employee conduct; or 
 (vi) the Employee’s willful and material breach of any provision of this Agreement. 

  
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 For such purpose, no act or omission to act by the Employee shall be “willful” if
conducted in good faith and with a reasonable belief that such act or omission was in the best interests of the Company. Any determination of Cause by the Company will be made by a resolution approved by a majority of the members of the Board
(excluding the Employee), provided that no such determination may be made until the Employee has been given written notice detailing the specific Cause event, an opportunity to appear before the Board to refute such finding (with the assistance of
counsel), and a period of thirty (30) days following such appearance to cure such event (if susceptible to cure) to the satisfaction of the Board. Notwithstanding anything to the contrary contained herein, the Employee’s right to cure
shall not apply if there are habitual or repeated breaches by the Employee. 
 (d) WITHOUT CAUSE. Immediately upon written notice by
the Company to the Employee of an involuntary termination without Cause (other than for death or Disability). 
 (e) GOOD REASON.
Upon written notice by the Employee to the Company of a termination for Good Reason. “Good Reason” shall mean the occurrence of any of the following events, without the express written consent of the Employee, unless such events are fully
corrected in all material respects by the Company within thirty (30) days following written notification by the Employee to the Company of the occurrence of one of the reasons set forth below: 

(i) the Company’s assignment to the Employee of duties (including titles and reporting relationships) inconsistent in any material
respect with the Employee’s duties or responsibilities as contemplated by this Agreement, any failure to re-nominate the Employee for election by the Company’s stockholders as a member of the Board, or any other action by the Company that
results in a significant diminution in the Employee’s position, authority, duties or responsibilities (provided that any sale or other disposition of assets by the Company shall not, in and of itself, constitute a significant diminution in the
Employee’s position, authority, duties or responsibilities; and provided, further, that a reduction in authority, duties or responsibilities resulting solely from the Company ceasing to be a publicly traded entity shall not constitute Good
Reason hereunder); or 
 (ii) the Company’s material breach of any provision of this Agreement. 

The Employee shall provide the Company with a written notice detailing the specific circumstances alleged to constitute Good Reason within
forty-five (45) days after the first occurrence of such circumstances, and actually terminate employment within thirty (30) days following the expiration of the Company’s cure period as set forth above. Otherwise, any claim of such
circumstances as “Good Reason” shall be deemed irrevocably waived by the Employee. 
 (f) WITHOUT GOOD REASON. Upon thirty
(30) days’ prior written notice by the Employee to the Company of the Employee’s voluntary termination of employment without Good Reason (which the Company may, in its sole discretion, make effective earlier than any notice date).

  
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 8. CONSEQUENCES OF TERMINATION. 

(a) DEATH. In the event that the Employee’s employment and the Employment Term ends on account of the Employee’s death, the
Employee or the Employee’s estate, as the case may be, shall be entitled to the following (with the amounts due under Sections 8(a)(i) through 8(a)(iii) hereof to be paid within sixty (60) days following termination of employment, or such
earlier date as may be required by applicable law): 
 (i) any earned and unpaid Base Salary through the date of termination; 

(ii) reimbursement for any unreimbursed business expenses incurred through the date of termination; 

(iii) any accrued but unused vacation time in accordance with Company policy; and 

(iv) all other vested payments, benefits or fringe benefits to which the Employee shall be entitled under the terms of any applicable
compensation arrangement or benefit, equity or fringe benefit plan or program or grant or this Agreement (collectively, Sections 8(a)(i) through 8(a)(iv) hereof shall be hereafter referred to as the “Accrued Benefits”); 

(v) payment of the Employee’s bonus and long-term incentive award, if any, for all performance periods completed prior to the
Employee’s termination, to the extent earned, which shall be payable when such bonuses and awards are payable to other employees, to the extent not otherwise payable on the same or more favorable terms under the terms of such award (the
“Prior Bonuses”); and 
 (vi) payment of the Employee’s annual incentive for the incomplete calendar year during which such
termination occurs, which shall be earned and payable based on actual results in accordance with the terms thereof and payable at the time when such bonuses and awards are payable to other employees as if the Employee’s employment had not
terminated (and with any subjective criteria deemed satisfied at target), except that such amount shall be prorated based on the fraction the numerator of which shall be the number of days employed during such calendar year prior to the
Employee’s termination and the denominator of which shall be the total number of days in that calendar year (the “Pro Rata Bonus”). 

(b) DISABILITY. In the event that the Employee’s employment and/or the Employment Term ends on account of the Employee’s
Disability, the Company shall pay or provide the Accrued Benefits, the Prior Bonuses and the Pro Rata Bonus to the Employee. 
 (c)
TERMINATION FOR CAUSE OR WITHOUT GOOD REASON. If the Employee’s employment is terminated (x) by the Company for Cause, or (y) by the Employee without Good Reason, the Company shall pay or provide the Accrued Benefits to the
Employee. 

  
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 (d) TERMINATION WITHOUT CAUSE OR FOR GOOD REASON. If the Employee’s employment by the
Company is terminated (x) by the Company other than for Cause (and other than for death or Disability), or (y) by the Employee for Good Reason, the Company shall pay or provide the Employee with the following: 

(i) the Accrued Benefits; 
 (ii)
If the Employee’s termination is prior to or more than twenty-four (24) months following a Change in Control and subject to the Employee’s continued compliance with the obligations in Sections 9 and 10 hereof, in lieu of any further
salary payment to the Employee for any period after the termination, a lump sum severance payment, in cash, equal to one and one half times (1.5x) the sum of: (x) the Employee’s Base Salary as in effect immediately prior to the
termination or, if higher, in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason, and (y) the Employee’s Target Bonus in respect of the fiscal year in which occurs the termination or, if
higher, the fiscal year in which occurs the first event or circumstance constituting Good Reason, such lump sum severance payment to be paid on the sixtieth (60th) day following the
Employee’s date of termination, provided that that the release provided in Section 9 has become irrevocable prior to such date and except as otherwise provided in Section 25(b). 

(iii) Subject to (A) the Employee’s timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation
Act of 1985, as amended (“COBRA”), (B) the Employee’s continued copayment of premiums at the same level and cost to the Employee as if the Employee were an employee of the Company (excluding, for purposes of calculating cost, an
employee’s ability to pay premiums with pre-tax dollars), and (C) the Employee’s continued compliance with the obligations in Sections 9 and 10 hereof, continued participation in the Company’s group health plan (to the extent
permitted under applicable law and the terms of such plan) which covers the Employee (and the Employee’s eligible dependents) for a period of eighteen (18) months at the Company’s expense, provided that the Employee is eligible and
remains eligible for COBRA coverage; and provided, further, that in the event that the Employee obtains other employment that offers group health benefits, such continuation of coverage by the Company under this Section 8(d)(iii) shall
immediately cease. 
 (iv) Without duplication of any amount payable to the Employee under the terms of the applicable incentive plan, the
Company shall pay to the Employee, a lump sum amount, in cash, equal to the sum of (1) the Prior Bonuses and (2) the Pro Rata Bonus. Notwithstanding the forgoing, if and to the extent the Employee had elected to defer receipt of any of the
Prior Bonuses and if the Employee’s deferral election is irrevocable as of the date of termination for purposes of Code Section 409A, the amount calculated above shall be credited to the Employee’s account under the applicable
deferred compensation plan in lieu of being distributed directly to the Employee. 
 (v) Subject to the Employee’s continued compliance
with the obligations in Sections 9 and 10 hereof, up to $50,000 of outplacement services through the first anniversary of the termination. 

(vi) The Employee’s Initial Equity Award and Sign-On/Buy-Out Equity Award shall vest and be exercisable or settled as provided at
Sections 5(a) and 5(c), above. 

  
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 Payments and benefits provided in this Section 8(d) shall be in lieu of any termination or
severance payments or benefits for which the Employee may be eligible under any of the plans, policies or programs of the Company or under the Worker Adjustment Retraining Notification Act of 1988 or any similar state statute or regulation. 

(e) EXPIRATION OF TERM; NON-EXTENSION OF AGREEMENT. If the Term expires on June 29, 2018, without further action by the Company or
the Employee, as contemplated by Section 2 hereof, and without termination of the Employee’s employment, no severance benefits will be payable at any time thereafter under this Agreement. 

(f) TERMINATION ON OR AFTER A CHANGE IN CONTROL. If the Employee’s employment is terminated on or within twenty-four
(24) months following a Change in Control, other than (x) by the Company for Cause, (y) by reason of death or Disability or (z) by the Employee without Good Reason, then in lieu of any payments under Section 8(d), the
Company shall pay the Employee the amounts and provide the Employee with the following: 
 (i) The Accrued Benefits. 

(ii) Subject to the Employee’s continued compliance with the obligations in Sections 9 and 10 hereof, in lieu of any further salary
payment to the Employee for any period after the termination, a lump sum severance payment, in cash, equal to two times (2x) the sum of: (1) the Employee’s Base Salary as in effect immediately prior to the termination or, if higher,
in effect immediately prior to the first occurrence of an event or circumstance constituting Good Reason, and (2) the Employee’s Target Bonus in respect of the fiscal year in which occurs the termination or, if higher, the fiscal year in
which occurs the first event or circumstance constituting Good Reason, such lump sum severance payment to be paid on the sixtieth (60th) day following the Employee’s date of termination,
provided that that the release provided in Section 9 has become irrevocable prior to such date and except as otherwise provided in Section 25(b). 

(iii) Subject to the limitations specified below in this Section 8(f)(iii), for the eighteen (18) month period immediately following
the date of termination, the Company shall arrange to provide the Employee and his dependents life, accident and health insurance benefits substantially similar to those provided to the Employee and his dependents immediately prior to the date of
termination or, if more favorable to the Employee, those provided to the Employee and his dependents immediately prior to the first occurrence of an event or circumstance constituting Good Reason. The Company will provide these life and accident
insurance benefits at no greater cost to the Employee than the cost to the Employee immediately prior to the date or occurrence specified in the first sentence of this Section 8(f)(iii). The Company will either pay directly, or reimburse the
Employee for, the entire cost otherwise payable by the Employee for these health insurance benefits. Unless the Employee consents to a different method (after taking into account the effect of such method on the calculation of “parachute
payments” pursuant to Section 8(g) hereof), such life, accident and health insurance benefits shall be provided through a third-party insurer and the premiums for that insurance (to the extent paid

  
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directly by the Company or reimbursed by the Company to the Employee) will be included in the Employee’s income for tax purposes to the extent required by applicable law. The Company may
withhold from any such direct payment or reimbursement an amount sufficient to cover the amount of required withholding. Benefits otherwise receivable by the Employee pursuant to this Section 8(f)(iii) shall be reduced to the extent benefits of
the same type are received by or made available to the Employee by another employer during the eighteen (18)-month period following the Employee’s termination of employment (and any such benefits received by or made available to the Employee
shall be reported to the Company by the Employee); provided, however, that the Company shall reimburse the Employee for the excess, if any, of the cost of such benefits to the Employee over such cost immediately prior to the date of termination or,
if more favorable to the Employee, the first occurrence of an event or circumstance constituting Good Reason. Notwithstanding anything in this Section 8(f)(iii) to the contrary, with respect to the first six (6) months following the
Employee’s termination of employment, if the premiums payable by the Company for group term life insurance on the Employee’s life exceeds the amount of the “limited payments” exemption set forth in
Section 1.409A-1(b)(9)(v)(B) of the Income Tax Regulations (or any successor provision thereto), then, to the extent required in order to comply with Internal Revenue Code (“Code”) Section 409A, the Employee, in advance, shall
pay to the Company an amount equal to the premiums for any such life insurance policy, other than with respect to life insurance coverage to which the Employee would be entitled independent of this Agreement. Promptly following the end of such six
(6)-month period, the Company will make a cash payment to the Employee equal to the difference between the aggregate amount paid by the Employee for such coverage and the amount that the Employee would have paid for such life insurance coverage if
such cost had been determined pursuant to this Section 8(f)(iii) other than the preceding sentence. 
 (iv) Without duplication of any
amount payable to the Employee under the terms of the applicable incentive plan, the Company shall pay to the Employee, on the first day of the seventh month following the month in which occurs the Employee’s date of termination, a lump sum
amount, in cash, equal to the sum of (i) the Prior Bonuses, and (ii) a pro rata portion of the annual bonus awarded to the Employee for the fiscal year in which the date of termination occurs, calculated by multiplying the award that the
Employee would have earned on the last day of the fiscal year, assuming the achievement, at the target level, of the individual and corporate performance goals established with respect to the annual bonus, by the fraction obtained by dividing the
number of days during such fiscal year through the date of the Employee’s termination of employment by 365. Notwithstanding the forgoing, if and to the extent the Employee had elected to defer receipt of any of the Prior Bonuses, and if the
Employee’s deferral election is irrevocable as of the date of termination for purposes of Code Section 409A, the amount calculated above shall be credited to the Employee’s account under the applicable deferred compensation plan in
lieu of being distributed directly to the Employee. 
 (v) The benefits then accrued by or payable to the Employee under the Company’s
2010 Supplemental Executive Retirement Plan and Savings Parity Plan or any successor to any such plans, and the benefits then accrued by or payable to the Employee under any other nonqualified plan providing supplemental retirement or deferred
compensation benefits shall become fully vested as of the date of termination notwithstanding any eligibility conditions that would otherwise apply with respect to such benefits and the benefit, as so vested, will be paid in accordance with the
terms of the applicable plan or program. 

  
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 (vi) The Company shall reimburse the Employee for expenses incurred for outplacement services
suitable to the Employee’s position for a period of twelve (12) months following the Employees termination of employment (or, if earlier, until the first acceptance by the Employee of an offer of employment) in an amount not exceeding
$50,000. 
 (vii) Change in Control Definitions. 

(1) “Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act. 

(2) “Change in Control” shall be deemed to have occurred if the event set forth in any one of the following paragraphs shall have
occurred: 
 (A) any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the
securities beneficially owned by such Person any securities acquired directly from the Company or its affiliates) representing more than 50% of the combined voting power of the Company’s then outstanding securities, excluding any Person who
becomes such a Beneficial Owner in connection with a transaction described in clause (a) of paragraph (C) below; 
 (B) there is
consummated a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other corporation, other than (a) a merger or consolidation which results in the directors of the Company immediately prior to
such merger or consolidation continuing to constitute at least a majority of the Board, the surviving entity or any parent thereof or (b) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction)
in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person any securities acquired directly from the Company or its affiliates)
representing more than 50% or more of the combined voting power of the Company’s then outstanding securities; or 
 (C) the
shareholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated a transaction for the sale or disposition by the Company of more than 50% of the Company’s assets, other than a sale or
disposition by the Company of more than 50% of the Company’s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Company in substantially the same proportions as
their ownership of the Company immediately prior to such sale. 
 Notwithstanding the foregoing, a “Change in Control” shall not
be deemed to have occurred (1) by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the common stock of the Company immediately prior to such transaction or
series of transactions continue to have substantially the same proportionate ownership in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions or (2) by
virtue of the consummation of the transactions contemplated by the Share Purchase Agreement by and among VIHI, LLC, Visteon Corporation, Hahn & Co. Auto Holdings Co., Ltd. and Hankook Tire Co., Ltd., dated as of December 17, 2014. 

  
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 For purposes of this Agreement, the Employee’s employment shall be deemed to have been
terminated following a Change in Control by the Company without Cause or by the Executive with Good Reason, if (x) the Employee employment is terminated by the Company without Cause prior to a Change in Control (whether or not a Change in
Control ever occurs) and such termination was at the request or direction of a Person who has indicated an intention or taken steps reasonably calculated to effect a Change in Control, or (y) the Employee terminates his employment for Good
Reason prior to a Change in Control (whether or not a Change in Control ever occurs) and the circumstance or event which constitutes Good Reason occurs at the request or direction of such Person. 

(3) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 

Payments and benefits provided in this Section 8(f) shall be in lieu of any termination or severance payments or benefits for which the
Employee may be eligible under any of the plans, policies or programs of the Company or under the Worker Adjustment Retraining Notification Act of 1988 or any similar state statute or regulation. 

(g) INTERNAL REVENUE CODE SECTION 280G. Notwithstanding any other provisions of this Agreement, in the event that any payment or
benefit received or to be received by the Employee in connection with a Change in Control or the termination of the Employee’s employment (whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement with the
Company, any Person whose actions result in a Change in Control or any Person affiliated with the Company or such Person) (all such payments and benefits being hereinafter called “Total Payments”) would be subject (in whole or part), to
any excise tax imposed under Code Section 4999 (the “Excise Tax”), the Total Payments shall be reduced to the extent necessary so that no portion of the Total Payments is subject to the Excise Tax but only if (y) the net amount
of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments) is greater than or equal to (z) the net amount of such Total Payments without such reduction
(but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of Excise Tax to which the Employee would be subject in respect of such unreduced Total Payments). 

(i) The reduction of Total Payments under this Section 8(g), if applicable, shall be made by first reducing any Total Payments due under
Section 8(f)(ii) hereof, and then any Total Payments due under Section 8(f)(iv) hereof, and then any Total Payments due under Section 8(f)(vi) hereof, and then any other Total Payments due in the following order: (1) reduction of
cash Total Payments, (2) cancellation of accelerated vesting of performance-based equity awards (based on the reverse order of the date of grant), (3) cancellation of accelerated vesting of other equity awards (based on the reverse order
of the date of grant) and (4) reduction of any other Total Payments due to the Employee (with benefits or payments in any group having different payment terms being reduced on a pro-rata basis). 

  
 12 

 (ii) For purposes of determining whether and the extent to which the Total Payments will be
subject to the Excise Tax, (1) no portion of the Total Payments the receipt or enjoyment of which the Employee shall have waived at such time and in such manner as not to constitute a “payment” within the meaning of Code
Section 280G(b) shall be taken into account, (2) no portion of the Total Payments shall be taken into account which, in the opinion of tax counsel (“Tax Counsel”) reasonably acceptable to the Employee and selected by the
accounting firm (the “Auditor”) which was, immediately prior to the Change in Control, the Company’s independent auditor (A) does not constitute a “parachute payment” within the meaning of Code Section 280G(b)(2)
(including by reason of Code Section 280G(b)(4)(A) ) or (B) constitutes reasonable compensation for services actually rendered, within the meaning of Code Section 280G(b)(4)(B), in excess of the “base amount” within the
meaning of Code Section 280G(b)(3) allocable to such reasonable compensation, and (iii) the value of any non-cash benefit or any deferred payment or benefit included in the Total Payments shall be determined by the Auditor in accordance
with the principles of Code Sections 280G(d)(3) and (4). 
 (iii) At the time that payments are made under this Agreement, the Company shall
provide the Employee with a written statement setting forth the manner in which such payments were calculated and the basis for such calculations including, without limitation, any opinions or other advice the Company has received from Tax Counsel,
the Auditor or other advisors or consultants (and any such opinions or advice which are in writing shall be attached to the statement). 

(h) OTHER OBLIGATIONS. Upon any termination of the Employee’s employment with the Company, the Employee shall promptly resign,
effective as of the date of the Employee’s termination, from any position as an officer, director or fiduciary of the Company and of any Company-related entity. Any and all amounts payable and benefits or additional rights provided pursuant to
Section 8 beyond the Accrued Benefits shall only be payable if the Employee satisfies the Employee’s obligations under this Section 8(h). 

(i) EXCLUSIVE REMEDY. The amounts payable to the Employee following termination of employment and the Employment Term hereunder
pursuant to Sections 7 and 8 hereof shall be in full and complete satisfaction of the Employee’s rights under this Agreement and all other claims that the Employee may have in respect of the Employee’s employment with the Company or any of
its affiliates, and the Employee acknowledges that such amounts are fair and reasonable, and are the Employee’s sole and exclusive remedy, in lieu of all other remedies at law or in equity, with respect to the termination of the Employee’s
employment hereunder or any breach of this Agreement. 
 9. RELEASE; NO MITIGATION. Any and all amounts payable and benefits or additional
rights provided pursuant to this Agreement beyond the Accrued Benefits shall only be payable if the Employee delivers to the Company and does not revoke a general release of claims in favor of the Company substantially in the form of Exhibit A
hereto. Such release shall be executed and delivered (and no longer subject to revocation, if applicable) within sixty (60) days following termination. In no event shall the Employee be obligated to seek other employment or take any other
action by way of mitigation of the amounts payable to the Employee under any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced by any compensation earned by the Employee as a result of employment by a
subsequent employer, except as provided in Sections 8(d)(iii) and 8(f)(iii) hereof. 

  
 13 

 10. RESTRICTIVE COVENANTS. 

(a) CONFIDENTIALITY. During the course of the Employee’s employment with the Company, the Employee will learn confidential
information on behalf of the Company. The Employee agrees that the Employee shall not, directly or indirectly, use, make available, sell, disclose or otherwise communicate to any person, other than in the course of the Employee’s assigned
duties and for the benefit of the Company, either during the period of the Employee’s employment or at any time thereafter, any business and technical information or trade secrets, nonpublic, proprietary or confidential information, knowledge
or data relating to the Company, any of its subsidiaries, affiliated companies or businesses, or received from third parties subject to a duty on the Company’s and its subsidiaries’ and affiliates’ part to maintain the confidentiality
of such information and to use it only for certain limited purposes, in each case which shall have been obtained by the Employee during the Employee’s employment by the Company (or any predecessor). The foregoing shall not apply to information
that (i) was known to the public prior to its disclosure to the Employee, (ii) becomes generally known to the public subsequent to disclosure to the Employee through no wrongful act of the Employee or any representative of the Employee, or
(iii) the Employee is required to disclose by applicable law, regulation or legal process (provided that the Employee provides the Company with prior notice of the contemplated disclosure and cooperates with the Company at its expense in
seeking a protective order or other appropriate protection of such information). 
 (b) INTELLECTUAL PROPERTY RIGHTS. The results and
proceeds of the Employee’s employment with the Company, including, without limitation, any works of authorship resulting from the Employee’s services during the Employment Term and any works in progress, shall be works-made-for hire, and
the Company shall be deemed the sole owner throughout the universe of any and all rights of whatsoever nature therein, whether or not now or hereafter known, existing, contemplated, recognized or developed, with the right to use the same in
perpetuity in any manner the Company determines in its sole discretion without any further payment to the Employee whatsoever. If, for any reason, any of such results and proceeds will not legally be a work-for-hire and/or there are any rights
which do not accrue to the Company under the preceding sentence, then the Employee hereby irrevocably assigns and agrees to assign any and all of the Employee’s rights, titles and interests thereto, including, without limitation, any and all
copyrights, patents, trade secrets, trademarks and/or other rights of whatsoever nature therein, whether or not now or hereafter known, existing, contemplated, recognized or developed, to the Company, and the Company shall have the right to use the
same in perpetuity throughout the universe in any manner the Company determines without any further payment to the Employee whatsoever. The Employee shall, from time to time, as may be requested by the Company, do any and all things which the
Company may deem useful or desirable to establish or document the Company’s exclusive ownership of any and all rights in any such results and proceeds, including, without limitation, the execution of appropriate copyright and/or patent
applications or assignments. To the extent the Employee has any rights in the results and proceeds of the Employee’s services that cannot be assigned in the manner described above, the Employee unconditionally and irrevocably waives the
enforcement of such rights. This Section 10(b) is subject to and will not be deemed to limit, restrict or constitute any waiver by the 

  
 14 

 
Company of any rights of ownership to which the Company may be entitled by operation of law by virtue of the Company being the Employee’s employer. Upon the Company’s request, the
Employee shall enter into such other confidentiality or proprietary information and invention assignment agreement as the Company may determine appropriate. 

(c) NON-COMPETITION. The Employee acknowledges that the Employee performs services of a unique nature for the Company that are
irreplaceable, and that the Employee’s performance of such services to a competing business will result in irreparable harm to the Company. Accordingly, during the Employee’s employment hereunder and for a period of eighteen
(18) months thereafter, the Employee agrees that the Employee will not, directly or indirectly, own, manage, operate, control, be employed by (whether as an employee, consultant, independent contractor or otherwise, and whether or not for
compensation) or render services to any person, firm, corporation or other entity, in whatever form, engaged in competition with the Company or any of its affiliates or in any other material business in which the Company or any of its affiliates is
engaged on the date of termination or in which they have planned, on or prior to such date, to be engaged in on or after such date, in any locale of any country in which the Company conducts business. Notwithstanding the foregoing, nothing herein
shall prohibit the Employee from being a passive owner of not more than one percent of the equity securities of a publicly traded corporation engaged in a business that is in competition with the Company or any of its affiliates, so long as the
Employee has no active participation in the business of such corporation. In addition, the provisions of this Section 10(c) shall not be violated by the Employee commencing employment with a subsidiary, division or unit of any entity that
engages in a business in competition with the Company or any of its subsidiaries or affiliates so long as the Employee and such subsidiary, division or unit do not engage in a business in competition with the Company or any of its subsidiaries or
affiliates. 
 (d) NON-SOLICITATION; NON-INTERFERENCE. During the Employee’s employment with the Company and for a period of
eighteen (18) months thereafter, the Employee agrees that the Employee shall not, except in the furtherance of the Employee’s duties hereunder, directly or indirectly, individually or on behalf of any other person, firm, corporation or
other entity, (i) solicit, aid or induce any customer of the Company or any of its affiliates to purchase goods or services then sold by the Company or any of its affiliates from another person, firm, corporation or other entity or assist or
aid any other persons or entity in identifying or soliciting any such customer, (ii) solicit, aid or induce any employee, representative or agent of the Company or any of its affiliates to leave such employment or retention or to accept
employment with or render services to or with any other person, firm, corporation or other entity unaffiliated with the Company, or hire or retain any such employee, representative or agent, or take any action to materially assist or aid any other
person, firm, corporation or other entity in identifying, hiring or soliciting any such employee, representative or agent, or (iii) interfere, or aid or induce any other person or entity in interfering, with the relationship between the Company
or any of its affiliates and any of their respective vendors, joint venturers or licensors. An employee, representative or agent shall be deemed covered by this Section 10(d) while so employed or retained and for a period of six (6) months
thereafter. Notwithstanding the foregoing, the provisions of this Section 10(d) shall not be violated by (A) general advertising or solicitation not specifically targeted at Company-related persons or entities, (B) the Employee
serving as a reference, upon request, for any employee of the Company or any of its subsidiaries or affiliates, or (C) actions taken by any person or entity with which the Employee is associated if the Employee is not personally involved in any
manner in the matter and has not identified such Company-related person or entity for soliciting or hiring. 

  
 15 

 (e) NON-DISPARAGEMENT. The Employee agrees that he will not at any time make, publish or
communicate to any person or entity or in any public forum any defamatory or disparaging remarks, comments or statements concerning the Company or its businesses, or any of its employees, officers, members of its Board, and existing and prospective
customers, suppliers, investors and other associated third parties. The Company agrees that the Company will not at any time through any public statement make, publish or communicate to any person or entity or in any public forum any defamatory or
disparaging remarks, comments or statements concerning the Employee or his businesses. The obligation set forth in this Subsection (e) does not, in any way, restrict or impede the Employee or the Company (including its members of the Board and
executive officers) from exercising protected rights to the extent that such rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized
government agency, provided that such compliance does not exceed that required by the law, regulation or order. The Employee shall promptly provide written notice of any such order, applicable to him, to the Board and to the Company’s General
Counsel. 
 (f) COOPERATION. The parties agree that certain matters in which the Employee will be involved during the Employment Term
may necessitate the Employee’s cooperation in the future. Accordingly, following the termination of the Employee’s employment for any reason, to the extent reasonably requested by the Board, the Employee shall cooperate with the Company in
connection with matters arising out of the Employee’s service to the Company; provided that, the Company shall make reasonable efforts to minimize disruption of the Employee’s other activities. The Company shall reimburse the Employee for
reasonable expenses incurred in connection with such cooperation and, to the extent that the Employee is required to spend substantial time on such matters, the Company shall compensate the Employee at an hourly rate based on the Employee’s
highest level of Base Salary during the Employment Term. 
 (g) RETURN OF COMPANY PROPERTY. On the date of the Employee’s
termination of employment with the Company for any reason (or at any time prior thereto at the Company’s request), the Employee shall return all property belonging to the Company or its affiliates (including, but not limited to, any
Company-provided laptops, computers, cell phones, wireless electronic mail devices or other equipment, or documents and property belonging to the Company). The Employee may retain the Employee’s rolodex and similar address books; provided,
however that such items only include only contact information and/or personal information not belonging to the Company. 
 (h)
REASONABLENESS OF COVENANTS. In signing this Agreement, the Employee gives the Company assurance that the Employee has carefully read and considered all of the terms and conditions of this Agreement, including the restraints imposed under
this Section 10. The Employee agrees that these restraints are necessary for the reasonable and proper protection of the Company and its affiliates and their trade secrets and confidential information and that each and every one of the
restraints is reasonable in respect of subject matter, length of time and geographic area, and that these restraints, individually or in the 

  
 16 

 
aggregate, will not prevent the Employee from obtaining other suitable employment during the period in which the Employee is bound by the restraints. The Employee acknowledges that each of these
covenants has a unique, very substantial and immeasurable value to the Company and its affiliates and that the Employee has sufficient assets and skills to provide a livelihood while such covenants remain in force. The Employee further covenants
that the Employee will not challenge the reasonableness or enforceability of any of the covenants set forth in this Section 10. It is also agreed that each of the Company’s affiliates will have the right to enforce all of the
Employee’s obligations to that affiliate under this Agreement, including without limitation pursuant to this Section 10. 
 (i)
REFORMATION. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 10 is excessive in duration or scope or is unreasonable or unenforceable under applicable law, it is the intention of
the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the laws of that state. 

(j) TOLLING. In the event of any violation of the provisions of this Section 10, the Employee acknowledges and agrees that the
post-termination restrictions contained in this Section 10 shall be extended by a period of time equal to the period of such violation, it being the intention of the parties hereto that the running of the applicable post-termination restriction
period shall be tolled during any period of such violation. 
 (k) SURVIVAL OF PROVISIONS. The obligations contained in
Section 8, Section 9, this Section 10, Section 11, Section 13, Section 20 and Section 21 shall survive the termination of Employee’s employment with the Company and, respecting Sections 9, 10, 11, 13, 20 and
21 only, the expiration of the Employment Term, and shall be fully enforceable thereafter. 
 11. EQUITABLE RELIEF AND OTHER REMEDIES. The Employee
acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach of any of the provisions of Section 10 hereof would be inadequate and, in recognition of this fact, the Employee agrees that, in the event of such
a breach or threatened breach, in addition to any remedies at law, the Company shall be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other
equitable remedy which may then be available, without the necessity of showing actual monetary damages or the posting of a bond or other security. 
 12.
STOCK OWNERSHIP GUIDELINES. The Employee acknowledges and agrees that he will be subject to the Company’s stock ownership guidelines for the Chief Executive Officer of the Company, as those guidelines may be amended from time to time. 

13. CLAWBACK. Notwithstanding anything herein to the contrary, the Employee may be required to forfeit or repay any or all compensation received by the
Employee under this Agreement pursuant to the terms of any compensation recovery or clawback policy that has been or may be adopted by or applicable to the Company, including without limitation any clawback or recovery policy implemented under the
Dodd-Frank Wall Street Reform and Consumer Protection Act. 

  
 17 

 14. NO ASSIGNMENTS. This Agreement is personal to each of the parties hereto. Except as provided in this
Section 14 hereof, no party may assign or delegate any rights or obligations hereunder without first obtaining the written consent of the other party hereto. The Company may assign this Agreement to any successor to all or substantially all of
the business and/or assets of the Company, provided that the Company shall require such successor to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if
no such succession had taken place. As used in this Agreement, “Company” shall mean the Company and any successor to its business and/or assets, which assumes and agrees to perform the duties and obligations of the Company under this
Agreement by operation of law or otherwise. 
 15. NOTICE. For purposes of this Agreement, notices and all other communications provided for in this
Agreement shall be in writing and shall be deemed to have been duly given (a) on the date of delivery, if delivered by hand, (b) on the date of transmission, if delivered by confirmed facsimile or electronic mail, (c) on the first
business day following the date of deposit, if delivered by guaranteed overnight delivery service, or (d) on the fourth business day following the date delivered or mailed by United States registered or certified mail, return receipt requested,
postage prepaid, addressed as follows: 
 If to the Employee, at the address (or to the facsimile number) shown in the books and records of
the Company; 
 If to the Company, Visteon Corporation One Village Center Drive Van Buren Township, Michigan 48111 Attention: General
Counsel; 
 or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of
address shall be effective only upon receipt. 
 16. SECTION HEADINGS; INCONSISTENCY. The section headings used in this Agreement are included solely
for convenience and shall not affect, or be used in connection with, the interpretation of this Agreement. In the event of any inconsistency between the terms of this Agreement and any form, award, plan or policy of the Company, the terms of this
Agreement shall govern and control. 
 17. 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. 
 18. COUNTERPARTS. This Agreement
may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. 

19. ARBITRATION. Any dispute or controversy arising under or in connection with this Agreement or the Employee’s employment with the Company,
other than injunctive relief under Section 11 hereof, shall be settled exclusively by arbitration, conducted before a single arbitrator in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration
Association then in effect. The decision of the arbitrator will be final and binding upon the parties hereto. Judgment may be entered on the arbitrator’s award in any court 

  
 18 

 
having jurisdiction. The parties acknowledge and agree that in connection with any such arbitration and regardless of outcome, (a) each party shall pay all of its own costs and expenses,
including, without limitation, its own legal fees and expenses, and (b) the arbitration costs shall be borne entirely by the Company. 
 20.
INDEMNIFICATION. The Company hereby agrees to indemnify the Employee and hold the Employee harmless to the maximum extent provided under the charter and by-laws of the Company and applicable law against and in respect of any and all actions,
suits, proceedings, claims, demands, judgments, costs, expenses (including reasonable attorney’s fees), losses, and damages resulting from the Employee’s good faith performance of the Employee’s duties and obligations with the Company
(including good faith acts and good faith omissions to act). This obligation shall survive the expiration of the Employment Term and any termination of the Employee’s employment with the Company. 

21. LIABILITY INSURANCE. The Company shall cover the Employee under directors’ and officers’ liability insurance both during and, while
potential liability exists, after the termination of the Employee’s employment in the same amount and to the same extent as the greater (if differing) of the Company’s coverage of its other officers and directors. This obligation shall
survive the expiration of the Employment Term and any termination of the Employee’s employment with the Company. 
 22. GOVERNING LAW. This
Agreement, the rights and obligations of the parties hereto, and all claims or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the choice of law provisions
thereof. 
 23. MISCELLANEOUS. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is
agreed to in writing and signed by the Employee and such officer or director as may be designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision
of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. Except as otherwise expressly referenced herein, this Agreement together
with all exhibits hereto (if any) sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes any and all prior agreements or understandings between the Employee and the Company with respect
to the subject matter hereof. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement. 

24. REPRESENTATIONS. The Employee represents and warrants to the Company that (a) the Employee has the legal right to enter into this Agreement
and to perform all of the obligations on the Employee’s part to be performed hereunder in accordance with its terms, (b) the Employee has or will return all confidential and proprietary information of the Employee’s prior employer to
his prior employer prior to commencing active employment with the Company, (c) the Employee will not retain any copies of confidential or proprietary information of the Employee’s prior employer; (d) the Employee will not use or
disclose any confidential or proprietary information of the Employee’s prior employer during the course of 

  
 19 

 
the Employee’s employment with the Company, (e) the Employee will follow any protocols established by the Company to prevent the inadvertent use or disclosure of confidential or
proprietary information of the Employee’s prior employer and (f) the Employee is not a party to any agreement or understanding, written or oral, and is not subject to any restriction, which, in either case, could prevent the Employee from
entering into this Agreement or performing all of the Employee’s duties and obligations hereunder. The Company represents and warrants to the Employee that (a) the Company has the legal right to enter into this Agreement and to perform all
of the obligations on the Company’s part to be performed hereunder in accordance with its terms, and (b) the Company is not a party to any agreement or understanding, written or oral, and is not subject to any restriction, which, in either
case, could prevent the Company from entering into this Agreement or performing all of the Company’s duties and obligations hereunder. 
 25. TAX
MATTERS. 
 (a) WITHHOLDING. The Company may withhold from any and all amounts payable under this Agreement or otherwise such
federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 
 (b) SECTION 409A
COMPLIANCE. 
 (i) The intent of the parties is that payments and benefits under this Agreement comply with Code Section 409A and
the regulations and guidance promulgated thereunder (collectively “Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. To the extent that any provision hereof
is modified in order to comply with Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to the Employee and the Company of the
applicable provision without violating the provisions of Section 409A. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on the Employee by Section 409A or for damages for
failing to comply with Section 409A. 
 (ii) A termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the payment of any amount or benefit upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A and, for
purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If any payment to the Employee is conditioned upon the
Employee’s providing a release of claims pursuant to Section 9, which payment is considered “nonqualified deferred compensation” under Section 409A, and which may be paid in either of two (2) taxable years of the
Employee depending on the date such release of claims becomes irrevocable, such payment shall be made on the later of January 8 of the later such taxable year or the day after the date such release of claims becomes irrevocable. Notwithstanding
any other payment schedule provided herein to the contrary (including, without limitation, under Sections 8(d) and 8(f)), if the Employee is deemed on the date of termination to be a “specified employee” within the meaning of that term
under Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered “nonqualified deferred compensation” under Section 409A payable on account of a “separation from service,”
that would, but for this 

  
 20 

 
sentence, be paid or provided before the expiration of the six (6)-month period measured from the date of the Employee’s “separation from service,” such payment or benefit shall be
made on the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of the Employee’s “separation from service,” and (B) the date of the Employee’s death, to the extent
required under Section 409A. Upon the expiration of the foregoing delay period, all payments and benefits delayed pursuant to this Section (whether they would have otherwise been payable in a single sum or in installments in the absence of such
delay) shall be paid or reimbursed to the Employee in a lump sum, and all remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 

(iii) To the extent that reimbursements or other in-kind benefits under this Agreement constitute “nonqualified deferred
compensation” for purposes of Section 409A, (A) all expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by the
Employee, (B) any right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (C) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any
taxable year shall in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year. 

(iv) For purposes of Section 409A, the Employee’s right to receive installment payments pursuant to this Agreement shall be treated
as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole
discretion of the Company. 
 (v) Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payment or
benefit under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Section 409A be subject to offset by any other amount unless otherwise permitted by Section 409A. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 21 

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

			
	COMPANY
		
	By:		 /s/ Francis Scricco

			Francis Scricco
			Chairman of the Board of Directors
	
	EMPLOYEE
		
	By:		 /s/ Sachin Lawande

			Sachin Lawande
		
			Employment Agreement Signature Page

  
 22 

 EXHIBIT A 

GENERAL RELEASE 
 I, Sachin Lawande, in
consideration of and subject to the performance by Visteon Corporation (together with its subsidiaries, the “Company”), of its obligations under Section 8 of the Employment Agreement, dated as of June 8, 2015 (the
“Agreement”), do hereby release and forever discharge as of the date hereof the Company and its respective affiliates and subsidiaries and all present, former and future directors, officers, agents, representatives, employees, successors
and assigns of the Company and/or its respective affiliates and subsidiaries and direct or indirect owners (collectively, the “Released Parties”) to the extent provided herein (this “General Release”). Terms used herein but not
otherwise defined shall have the meanings given to them in the Agreement. 
 1. I understand that any payments or benefits paid or granted to me under
Section 8 of the Agreement represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive the payments and benefits
specified in Section 8 of the Agreement unless I execute this General Release and do not revoke this General Release within the time period permitted hereafter or breach this General Release. Such payments and benefits will not be considered
compensation for purposes of any employee benefit plan, program, policy or arrangement maintained or hereafter established by the Company or its affiliates. 

2. Except as provided in paragraph 4 below and except for the provisions of the Agreement which expressly survive the termination of my employment with the
Company, I knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action,
cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past
and present (through the date that this General Release becomes effective and enforceable) and whether known or unknown, suspected, or claimed against the Company and/or any of the Released Parties which I, my spouse, or any of my heirs, executors,
administrators or assigns, ever had, now have, or hereafter may have, by reason of any matter, cause, or thing whatsoever, from the beginning of my initial dealings with the Company to the date of this General Release, and particularly, but without
limitation of the foregoing general terms, any claims arising from or relating in any way to my employment relationship with Company, the terms and conditions of that employment relationship, and the termination of that employment relationship
(including, but not limited to, any allegation, claim or violation, arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older
Workers Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income
Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; or their state or local counterparts; or under any other federal, state or local civil or human rights law, or under any other local, state, or

  
 23 

 
federal law, regulation or ordinance; or under any public policy, contract or tort, or under common law; or arising under any policies, practices or procedures of the Company; or any claim for
wrongful discharge, breach of contract, infliction of emotional distress, defamation; or any claim for costs, fees, or other expenses, including attorneys’ fees incurred in these matters) (all of the foregoing collectively referred to herein as
the “Claims”). 
 3. I represent that I have made no assignment or transfer of any right, claim, demand, cause of action, or other matter covered
by paragraph 2 above. 
 4. I agree that this General Release does not waive or release any rights or claims that I may have under the Age Discrimination in
Employment Act of 1967 which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with the Company in compliance with the terms of the Agreement shall not serve as the basis for any claim or
action (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967). 
 5. I agree that I hereby waive all rights to
sue or obtain equitable, remedial or punitive relief from any or all Released Parties of any kind whatsoever, including, without limitation, reinstatement, back pay, front pay, and any form of injunctive relief. Notwithstanding the foregoing, I
acknowledge that I am not waiving and am not being required to waive any right that cannot be waived under law, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however,
that I disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding. 

6. In signing this General Release, I acknowledge and intend that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or
implied. I expressly consent that this General Release shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected Claims (notwithstanding any state or local
statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those 
 relating
to any other Claims hereinabove mentioned or implied. I acknowledge and agree that this waiver is an essential and material term of this General Release and that without such waiver the Company would not have agreed to the terms of the Agreement. I
further agree that in the event that I should bring a Claim seeking damages against the Company, or in the event that I should seek to recover against the Company in any Claim brought by a governmental agency on my behalf, this General Release shall
serve as a complete defense to such Claims to the maximum extent permitted by law. I further agree that I am not aware of any pending claim, or of any facts that could give rise to a claim, of the type described in paragraph 2 as of the execution of
this General Release. 
 7. I agree that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or
construed at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct. 

  
 24 

 8. I agree that I will forfeit all amounts payable by the Company pursuant to the Agreement if I challenge the
validity of this General Release. I also agree that if I violate this General Release by suing the Company or the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including
reasonable attorneys’ fees, and return all payments received by me pursuant to the Agreement on or after the termination of my employment. 
 9. I
agree that this General Release and the Agreement are confidential and agree not to disclose any information regarding the terms of this General Release or the Agreement, except to my immediate family and any tax, legal or other counsel that I have
consulted regarding the meaning or effect hereof or as required by law, and I will instruct each of the foregoing not to disclose the same to anyone. The Company agrees to disclose any such information only to any tax, legal or other counsel of the
Company as required by law. 
 10. Any non-disclosure provision in this General Release does not prohibit or restrict me (or my attorney) from responding to
any inquiry about this General Release or its underlying facts and circumstances by the Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any other self-regulatory organization or governmental entity. 

11. I hereby acknowledge that Sections 8, 10, 11, 13 through 15, 17, 19 through 22 and 25 of the Agreement shall survive my execution of this General Release.

 12. I represent that I am not aware of any Claim by me, and I acknowledge that I may hereafter discover Claims or facts in addition to or different than
those which I now know or believe to exist with respect to the subject matter of the release set forth in paragraph 2 above and which, if known or suspected at the time of entering into this General Release, may have materially affected this General
Release and my decision to enter into it. 
 13. Notwithstanding anything in this General Release to the contrary, this General Release shall not
relinquish, diminish, or in any way affect any right or claim arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof. 

14. Whenever possible, each provision of this General Release shall be interpreted in such manner as to be effective and valid under applicable law, but if
any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any
other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT: 

1. I HAVE READ IT CAREFULLY; 
 2. I UNDERSTAND ALL OF ITS TERMS
AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED, THE EQUAL PAY ACT OF 1963, THE AMERICANS
WITH DISABILITIES ACT OF 1990, AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED; 

  
 25 

 3. I VOLUNTARILY CONSENT TO EVERYTHING IN IT; 

4. I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO
SO OF MY OWN VOLITION; 
 5. I HAVE HAD AT LEAST [21][45] DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE TO CONSIDER IT AND THE CHANGES MADE SINCE MY
RECEIPT OF THIS RELEASE ARE NOT MATERIAL OR WERE MADE AT MY REQUEST AND WILL NOT RESTART THE REQUIRED [21][45] -DAY PERIOD; 
 6. I UNDERSTAND THAT I HAVE
SEVEN DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED; 

7. I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND 

8. I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN
AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME. 
  

			
	SIGNED:		 /s/ Sachin Lawande

			Sachin Lawande
		
	DATE:		 June 8, 2015

  
 26EX-4.10

 EXHIBIT 4.10 
  

 
  

BASIC ENERGY SERVICES, INC. 

AND 
 WELLS FARGO BANK,
NATIONAL ASSOCIATION 
 Trustee 
  

 
 INDENTURE

 DATED AS OF                  ,
20     
  
  

SENIOR DEBT SECURITIES 
  

 
  

 BASIC ENERGY SERVICES, INC. 

RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939, AS AMENDED, 

AND INDENTURE, DATED AS OF                  ,
20     
  

					
	 TRUST INDENTURE ACT SECTION
	  	INDENTURE SECTION	 
	 Section 310(a)(1)
	  	 	6.9	  
	 (a)(2)
	  	 	6.9	  
	 (a)(3)
	  	 	Not Applicable	  
	 (a)(4)
	  	 	Not Applicable	  
	 (a)(5)
	  	 	6.9	  
	 (b)
	  	 	6.8	  
		
	 Section 311
	  	 	6.13	  
		
	 Section 312(a)
	  	 	7.1, 7.2(a)	  
	 (b)
	  	 	7.2(b)	  
	 (c)
	  	 	7.2(c)	  
		
	 Section 313(a)
	  	 	7.3	  
	 (b)
	  	 	*	  
	 (c)
	  	 	*	  
	 (d)
	  	 	7.3	  
		
	 Section 314(a)
	  	 	7.4	  
	 (a)(4)
	  	 	10.5	  
	 (b)
	  	 	Not Applicable	  
	 (c)(1)
	  	 	1.3	  
	 (c)(2)
	  	 	1.3	  
	 (c)(3)
	  	 	Not Applicable	  
	 (d)
	  	 	Not Applicable	  
	 (e)
	  	 	1.3	  
		
	 Section 315(a)
	  	 	6.1(a)	  
	 (b)
	  	 	6.2	  
	 (c)
	  	 	6.1(b)	  
	 (d)
	  	 	6.1(c)	  
	 (d)(1)
	  	 	6.1(a)(1)	  
	 (d)(2)
	  	 	6.1(c)(2)	  
	 (d)(3)
	  	 	6.1(c)(3)	  
	 (e)
	  	 	5.14	  
		
	 Section 316(a)
	  	 	1.1, 1.2	  
	 (a)(1)(A)
	  	 	5.2, 5.12	  
	 (a)(1)(B)
	  	 	5.13	  
	 (a)(2)
	  	 	Not Applicable	  
	 (b)
	  	 	5.8	  
	 (c)
	  	 	1.5(f)	  

					
	 TRUST INDENTURE ACT SECTION
	  	INDENTURE SECTION	 
	 Section 317(a)(1)
	  	 	5.3	  
	 (a)(2)
	  	 	5.4	  
	 (b)
	  	 	10.3	  
		
	 Section 318(a)
	  	 	1.8	  

 NOTE: This reconciliation and tie shall not, for any purpose, be deemed to be a part of the Indenture. 

 

	*	Deemed included pursuant to Section 318(c) of the Trust Indenture Act 

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
		
	 ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	  
	 Section 1.1.
	    	 Definitions
	  	 	1	  
	 Section 1.2.
	    	 Incorporation by Reference of Trust Indenture Act
	  	 	8	  
	 Section 1.3.
	    	 Compliance Certificates and Opinions
	  	 	8	  
	 Section 1.4.
	    	 Form of Documents Delivered to Trustee
	  	 	9	  
	 Section 1.5.
	    	 Acts of Holders; Record Dates
	  	 	9	  
	 Section 1.6.
	    	 Notices, Etc., to Trustee, Company and Guarantors
	  	 	10	  
	 Section 1.7.
	    	 Notice to Holders; Waiver
	  	 	11	  
	 Section 1.8.
	    	 Conflict with Trust Indenture Act
	  	 	11	  
	 Section 1.9.
	    	 Effect of Headings and Table of Contents
	  	 	11	  
	 Section 1.10.
	    	 Successors and Assigns
	  	 	12	  
	 Section 1.11.
	    	 Separability Clause
	  	 	12	  
	 Section 1.12.
	    	 Benefits of Indenture
	  	 	12	  
	 Section 1.13.
	    	 Force Majeure
	  	 	12	  
	 Section 1.14.
	    	 Waiver of Jury Trial
	  	 	12	  
	 Section 1.15.
	    	 Governing Law
	  	 	12	  
	 Section 1.16.
	    	 Legal Holidays
	  	 	12	  
	 Section 1.17.
	    	 Securities in a Composite Currency, Currency Unit or Foreign Currency
	  	 	13	  
	 Section 1.18.
	    	 Payment in Required Currency; Judgment Currency
	  	 	13	  
	 Section 1.19.
	    	 Language of Notices, Etc.
	  	 	14	  
	 Section 1.20.
	    	 Incorporators, Shareholders, Officers and Directors of the Company and the Guarantors Exempt from Individual Liability
	  	 	14	  
		
	 ARTICLE TWO SECURITY FORMS
	  	 	14	  
	 Section 2.1.
	    	 Forms Generally
	  	 	14	  
	 Section 2.2.
	    	 Form of Face of Security
	  	 	14	  
	 Section 2.3.
	    	 Form of Reverse of Security
	  	 	17	  
	 Section 2.4.
	    	 Global Securities
	  	 	21	  
	 Section 2.5.
	    	 Form of Trustee’s Certificate of Authentication
	  	 	22	  
		
	 ARTICLE THREE THE SECURITIES
	  	 	22	  
	 Section 3.1.
	    	 Amount Unlimited; Issuable in Series
	  	 	22	  
	 Section 3.2.
	    	 Denominations
	  	 	25	  
	 Section 3.3.
	    	 Execution, Authentication, Delivery and Dating
	  	 	25	  
	 Section 3.4.
	    	 Temporary Securities
	  	 	27	  
	 Section 3.5.
	    	 Registration, Registration of Transfer and Exchange
	  	 	27	  
	 Section 3.6.
	    	 Mutilated, Destroyed, Lost and Stolen Securities
	  	 	29	  
	 Section 3.7.
	    	 Payment of Interest; Interest Rights Preserved
	  	 	30	  
	 Section 3.8.
	    	 Persons Deemed Owners
	  	 	31	  
	 Section 3.9.
	    	 Cancellation
	  	 	31	  
	 Section 3.10.
	    	 Computation of Interest
	  	 	31	  
	 Section 3.11.
	    	 CUSIP or CINS Numbers
	  	 	32	  
		
	 ARTICLE FOUR SATISFACTION AND DISCHARGE
	  	 	32	  
	 Section 4.1.
	    	 Satisfaction and Discharge of Indenture
	  	 	32	  
	 Section 4.2.
	    	 Application of Trust Money
	  	 	33	  

  
 i 

							
	 ARTICLE FIVE REMEDIES
	  	 	33	  
	 Section 5.1.
	    	 Events of Default
	  	 	33	  
	 Section 5.2.
	    	 Acceleration of Maturity; Rescission and Annulment
	  	 	34	  
	 Section 5.3.
	    	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	35	  
	 Section 5.4.
	    	 Trustee May File Proofs of Claim
	  	 	36	  
	 Section 5.5.
	    	 Trustee May Enforce Claims Without Possession of Securities
	  	 	36	  
	 Section 5.6.
	    	 Application of Money Collected
	  	 	36	  
	 Section 5.7.
	    	 Limitation on Suits
	  	 	37	  
	 Section 5.8.
	    	 Unconditional Right of Holders to Receive Principal, Premium and Interest
	  	 	37	  
	 Section 5.9.
	    	 Restoration of Rights and Remedies
	  	 	38	  
	 Section 5.10.
	    	 Rights and Remedies Cumulative
	  	 	38	  
	 Section 5.11.
	    	 Delay or Omission Not Waiver
	  	 	38	  
	 Section 5.12.
	    	 Control by Holders
	  	 	38	  
	 Section 5.13.
	    	 Waiver of Past Defaults
	  	 	38	  
	 Section 5.14.
	    	 Undertaking for Costs
	  	 	39	  
	 Section 5.15.
	    	 Waiver of Stay, Extension or Usury Laws
	  	 	39	  
		
	 ARTICLE SIX THE TRUSTEE
	  	 	39	  
	 Section 6.1.
	    	 Certain Duties and Responsibilities
	  	 	39	  
	 Section 6.2.
	    	 Notice of Defaults
	  	 	40	  
	 Section 6.3.
	    	 Certain Rights of Trustee
	  	 	41	  
	 Section 6.4.
	    	 Not Responsible for Recitals or Issuance of Securities
	  	 	42	  
	 Section 6.5.
	    	 May Hold Securities
	  	 	42	  
	 Section 6.6.
	    	 Money Held in Trust
	  	 	42	  
	 Section 6.7.
	    	 Compensation and Reimbursement
	  	 	43	  
	 Section 6.8.
	    	 Disqualification; Conflicting Interests
	  	 	43	  
	 Section 6.9.
	    	 Corporate Trustee Required; Eligibility
	  	 	43	  
	 Section 6.10.
	    	 Resignation and Removal; Appointment of Successor
	  	 	44	  
	 Section 6.11.
	    	 Acceptance of Appointment by Successor
	  	 	45	  
	 Section 6.12.
	    	 Merger, Conversion, Consolidation or Succession to Business
	  	 	46	  
	 Section 6.13.
	    	 Preferential Collection of Claims Against Company
	  	 	46	  
	 Section 6.14.
	    	 Appointment of Authenticating Agent
	  	 	47	  
		
	 ARTICLE SEVEN HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	 	48	  
	 Section 7.1.
	    	 Company to Furnish Trustee Names and Addresses of Holders
	  	 	48	  
	 Section 7.2.
	    	 Preservation of Information; Communications to Holders
	  	 	48	  
	 Section 7.3.
	    	 Reports by Trustee
	  	 	49	  
	 Section 7.4.
	    	 Reports by Company
	  	 	50	  
		
	 ARTICLE EIGHT CONSOLIDATION, AMALGAMATION, MERGER AND SALE
	  	 	50	  
	 Section 8.1.
	    	 Company May Consolidate, Etc., Only on Certain Terms
	  	 	50	  
	 Section 8.2.
	    	 Successor Substituted
	  	 	51	  
		
	 ARTICLE NINE AMENDMENT, SUPPLEMENT AND WAIVER
	  	 	51	  
	 Section 9.1.
	    	 Without Consent of Holders
	  	 	51	  
	 Section 9.2.
	    	 With Consent of Holders
	  	 	53	  
	 Section 9.3.
	    	 Execution of Amendments and Supplemental Indentures
	  	 	54	  
	 Section 9.4.
	    	 Effect of Amendments and Supplemental Indentures
	  	 	54	  
	 Section 9.5.
	    	 Conformity with Trust Indenture Act
	  	 	54	  
	 Section 9.6.
	    	 Reference in Securities to Amendments or Supplemental Indentures
	  	 	54	  
	 Section 9.7.
	    	 Effect of Consents
	  	 	55	  

  
 ii 

							
	 ARTICLE TEN COVENANTS
	  	 	55	  
	 Section 10.1.
	    	 Payment of Principal, Premium and Interest
	  	 	55	  
	 Section 10.2.
	    	 Maintenance of Office or Agency
	  	 	55	  
	 Section 10.3.
	    	 Money for Securities Payments to Be Held in Trust
	  	 	55	  
	 Section 10.4.
	    	 Existence
	  	 	57	  
	 Section 10.5.
	    	 Statement by Officers as to Default
	  	 	57	  
		
	 ARTICLE ELEVEN REDEMPTION OF SECURITIES
	  	 	57	  
	 Section 11.1.
	    	 Applicability of Article
	  	 	57	  
	 Section 11.2.
	    	 Election to Redeem; Notice to Trustee
	  	 	57	  
	 Section 11.3.
	    	 Selection by Trustee of Securities to Be Redeemed
	  	 	57	  
	 Section 11.4.
	    	 Notice of Redemption
	  	 	58	  
	 Section 11.5.
	    	 Deposit of Redemption Price
	  	 	59	  
	 Section 11.6.
	    	 Securities Payable on Redemption Date
	  	 	59	  
	 Section 11.7.
	    	 Securities Redeemed in Part
	  	 	59	  
		
	 ARTICLE TWELVE SINKING FUNDS
	  	 	59	  
	 Section 12.1.
	    	 Applicability of Article
	  	 	59	  
	 Section 12.2.
	    	 Satisfaction of Sinking Fund Payments with Securities
	  	 	60	  
	 Section 12.3.
	    	 Redemption of Securities for Sinking Fund
	  	 	60	  
		
	 ARTICLE THIRTEEN DEFEASANCE
	  	 	60	  
	 Section 13.1.
	    	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	60	  
	 Section 13.2.
	    	 Legal Defeasance and Discharge
	  	 	60	  
	 Section 13.3.
	    	 Covenant Defeasance
	  	 	61	  
	 Section 13.4.
	    	 Conditions to Legal or Covenant Defeasance
	  	 	61	  
	 Section 13.5.
	    	 Deposited Money and U.S. Government Obligations to be Held in Trust, Other Miscellaneous Provisions
	  	 	63	  
	 Section 13.6.
	    	 Reinstatement
	  	 	63	  
		
	 ARTICLE FOURTEEN GUARANTEE OF SECURITIES
	  	 	64	  
	 Section 14.1.
	    	 Securities Guarantee
	  	 	64	  
	 Section 14.2.
	    	 Limitation on Guarantor Liability
	  	 	65	  
	 Section 14.3.
	    	 Execution and Delivery of Securities Guarantee Notation
	  	 	65	  

 NOTE: This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. 

  
 iii 

 PARTIES 

INDENTURE, dated as of                 ,
20    , among BASIC ENERGY SERVICES, INC., a corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company”), the Guarantors (as defined hereinafter) and WELLS FARGO BANK,
NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”). 
 RECITALS OF THE COMPANY: 

The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured
senior debentures, notes or other evidences of indebtedness (herein called the “Securities”), which may be guaranteed by the Guarantors, to be issued in one or more series as provided in this Indenture. 

All things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 

This Indenture is subject to the provisions of the Trust Indenture Act (as defined herein) that are required to be a part of this Indenture
and, to the extent applicable, shall be governed by such provisions. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders (as defined herein) thereof, it is mutually
covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of series thereof, as follows: 

ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

Section 1.1. Definitions. 
 For all
purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
 (a) the terms
defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular; 

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

(c) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this
Indenture as a whole and not to any particular Article, Section or other subdivision; 
 (d) the words “Article”
and “Section” refer to an Article and Section, respectively, of this Indenture; 
 (e) the word
“includes” and its derivatives means “includes, but is not limited to” and corresponding derivative definitions; and 

(f) references to any officer of any partnership or limited liability company that does not have officers but is managed or
controlled, directly or indirectly, by an entity that does have officers, shall be deemed to be references to the officers of such managing or controlling entity. 

 Certain terms, used principally in Article Six, are defined in that Article. 

“Act,” when used with respect to any Holder, has the meaning specified in Section 1.5. 

“Additional Defeasible Provision” means a covenant or other provision that is (a) made part of this Indenture pursuant to an
indenture supplemental hereto, a Board Resolution or an Officer’s Certificate delivered pursuant to Section 3.1, and (b) pursuant to the terms set forth in such supplemental indenture, Board Resolution or Officer’s Certificate,
made subject to the provisions of Article Thirteen. 
 “Affiliate” of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,”
“controlled by” and “under common control with” have correlative meanings. 
 “Authenticating Agent” means any
Person authorized by the Trustee to act on behalf of the Trustee to authenticate Securities. 
 “Banking Day” means, in respect of
any city, any date on which commercial banks are open for business in that city. 
 “Bankruptcy Law” means any applicable Federal
or State bankruptcy, insolvency, reorganization or other similar law. 
 “Board of Directors” means: 

(a) with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on behalf of such
board; 
 (b) with respect to a partnership, the Board of Directors of the general partner of the partnership; 

(c) with respect to a limited liability company, the managing member or members or any controlling committee of managers or members thereof or
any board or committee serving a similar management function; and 
 (d) with respect to any other Person, the individual or board or
committee of such Person serving a management function similar to those described in clauses (a), (b) or (c) of this definition. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company or a Guarantor,
the principal financial officer of the Company or a Guarantor, any other authorized officer of the Company or a Guarantor, or a person duly authorized by any of them, in each case as applicable, to have been duly adopted by the Board of Directors
and to be in full force and effect on the date of such certification, and delivered to the Trustee. Where any provision of this Indenture refers to action to be taken pursuant to a Board Resolution (including the establishment of any series of the
Securities and the forms and terms thereof), such action may be taken by any committee, officer or employee of the Company or a Guarantor, as applicable, authorized to take such action by the Board of Directors, as evidenced by a Board Resolution.

 “Business Day,” when used with respect to any Place of Payment or other location, means, except as otherwise provided as
contemplated by Section 3.1 with respect to any series of Securities, each 

  
 2 

 
Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions and trust companies in that Place of Payment or other location are authorized or obligated by law,
executive order or regulation to close. 
 “CINS” means CUSIP International Numbering System. 

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

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

“Company Request” or “Company Order” means, in the case of the Company, a written request or order signed in the name of
the Company by its Chairman of the Board, its Chief Executive Officer, its Chief Financial Officer, its President, any of its Vice Presidents or any other duly authorized officer of the Company or any person duly authorized by any of them, and
delivered to the Trustee and, in the case of a Guarantor, a written request or order signed in the name of such Guarantor by its Chairman of the Board, its Chief Executive Officer, its President, any of its Vice Presidents or any other duly
authorized officer of such Guarantor or any person duly authorized by any of them, and delivered to the Trustee. 
 “Corporate Trust
Office” means the office of the Trustee at the address specified in Section 3.5 or such other address as to which the Trustee may give notice to the Company. 

“corporation,” when used in reference to the Trustee or any prospective Trustee, shall include any corporation, company,
association, partnership, limited partnership, limited liability company, joint-stock company, trust or other entity, in each case, satisfying the requirements of Section 310(a)(1) of the Trust Indenture Act. 

“Covenant Defeasance” has the meaning specified in Section 13.3. 

“CUSIP” means the Committee on Uniform Securities Identification Procedures. 

“Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

“Debt” means any obligation created or assumed by any Person for the repayment of money borrowed and any purchase money obligation
created or assumed by such Person and any guarantee of the foregoing. 
 “Default” means, with respect to a series of Securities,
any event that is, or after notice or lapse of time or both would be, an Event of Default. 
 “Defaulted Interest” has the meaning
specified in Section 3.7. 
 “Definitive Security” means a security other than a Global Security or a temporary Security.

 “Depositary” means, with respect to the Securities of any series issuable or issued in whole or in part in the form of one or
more Global Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 3.1, until a successor Depositary shall have become such pursuant to the
applicable provisions of this Indenture, and thereafter shall mean or include each Person which is a Depositary hereunder, and if at any time there is more than one such Person, shall be a collective reference to such Persons. 

  
 3 

 “Dollar” or “$” means the coin or currency of the United States of America,
which at the time of payment is legal tender for the payment of public and private debts. 
 “Event of Default” has the meaning
specified in Section 5.1. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Foreign Currency” means a currency used by the government of a country other than the United States of America. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect from time to time, including
those set forth in (1) the Financial Accounting Standards Board Accounting Standards Codification and any related Accounting Standards Updates by the Financial Accounting Standards Board, (2) such other statements by such other entity as
are approved by a significant segment of the accounting profession and (3) the rules and regulations of the SEC governing the inclusion of financial statements in periodic reports required to be filed pursuant to Section 13 of the Exchange
Act, including opinions and pronouncements in staff accounting bulletins and similar written statements from the accounting staff of the SEC. All computations based on GAAP contained in the Indenture shall be computed in conformity with GAAP. 

“Global Security” means a Security in global form that evidences all or part of a series of Securities and is authenticated and
delivered to, and registered in the name of, the Depositary for the Securities of such series or its nominee. 
 “Guaranteed
Securities” has the meaning specified in Section 14.1. 
 “Guarantor” means each Person that becomes a guarantor of any
Securities pursuant to the applicable provisions of this Indenture. 
 “Holder” means a Person in whose name a Security is
registered in the Security Register. 
 “Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more amendments or indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument, and any such amendment or supplemental indenture, the
provisions of the Trust Indenture Act that are deemed to be part of and govern this instrument and any such amendment or supplemental indenture, respectively. The term “Indenture” also shall include the terms of particular series of
Securities established as contemplated by Section 3.1. 
 “interest,” when used with respect to an Original Issue Discount
Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 
 “Interest Payment Date,”
when used with respect to any Security, means the Stated Maturity of an installment of interest on such Security. 
 “Judgment
Currency” has the meaning specified in Section 1.18. 
 “Legal Defeasance” has the meaning specified in
Section 13.2. 

  
 4 

 “mandatory sinking fund payment” has the meaning specified in Section 12.1. 

“Market Exchange Rate” has the meaning specified in Section 1.17. 

“Maturity,” when used with respect to any Security, means the date on which the principal of such Security or an installment of
principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

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

“Officer’s Certificate” means, in the case of the Company, a certificate signed by the Chairman of the Board, the Chief
Executive Officer, the Chief Financial Officer, the President, any Vice President or any other duly authorized officer of the Company, or a person duly authorized by any of them, and delivered to the Trustee and, in the case of a Guarantor, a
certificate signed by the Chairman of the Board, the Chief Executive Officer, the President, any Vice President or any other duly authorized officer of such Guarantor, or a person duly authorized by any of them, and delivered to the Trustee. 

“Opinion of Counsel” means a written opinion of counsel, who may be an employee of or counsel for the Company or a Guarantor, as the
case may be, and who shall be reasonably acceptable to the Trustee. 
 “optional sinking fund payment” has the meaning specified
in Section 12.1. 
 “Original Issue Discount Security” means any Security which provides for an amount less than the
principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2. 

“Outstanding,” when used with respect to Securities, means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
 (a) Securities theretofore canceled by the Trustee or delivered
to the Trustee for cancellation; 
 (b) Securities for whose payment or redemption money in the necessary amount has been
theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities; provided,
however, that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; and 

(c) Securities that have been paid pursuant to Section 3.6 or in exchange for or in lieu of which other Securities have
been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a protected purchaser in whose
hands such Securities are valid obligations of the Company; 
 provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, (i) the principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding
shall be the amount of the principal thereof that would be due and payable as of the date  

  
 5 

 
of such determination upon acceleration of the Maturity thereof on such date pursuant to Section 5.2, (ii) the principal amount of a Security denominated in one or more currencies or
currency units other than U.S. dollars shall be the U.S. dollar equivalent of such currencies or currency units, determined in the manner provided as contemplated by Section 3.1 on the date of original issuance of such Security or by
Section 1.17, if not otherwise so provided pursuant to Section 3.1, of the principal amount (or, in the case of an Original Issue Discount Security, the U.S. dollar equivalent (as so determined) on the date of original issuance of such
Security of the amount determined as provided in clause (i) above) of such Security, and (iii) Securities owned by the Company, any Guarantor or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor
shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities which the
Trustee knows to be so owned shall be so disregarded. Securities so owned as described in clause (iii) of the immediately preceding sentence which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right to act with respect to such Securities and that the pledgee is not the Company, a Guarantor or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 

“Paying Agent” means any Person authorized by the Company to pay the principal of and any premium or interest on any Securities on
behalf of the Company. 
 “Periodic Offering” means an offering of Securities of a series from time to time, the specific terms of
which Securities, including, without limitation, the rate or rates of interest or formula for determining the rate or rates of interest thereon, if any, the Stated Maturity or Stated Maturities thereof, the original issue date or dates thereof, the
redemption provisions, if any, with respect thereto, and any other terms specified as contemplated by Section 3.1 with respect thereto, are to be determined by the Company upon the issuance of such Securities. 

“Person” means any individual, corporation, company, limited liability company, partnership, limited partnership, joint venture,
association, joint-stock company, trust, other entity, unincorporated organization or government or any agency or political subdivision thereof. 

“Place of Payment,” when used with respect to the Securities of any series, means, unless otherwise specifically provided for with
respect to such series as contemplated by Section 3.1, the office or agency of the Company and such other place or places where, subject to the provisions of Section 10.2, the principal of and any premium and interest on the Securities of
that series are payable as contemplated by Section 3.1. 
 “Predecessor Security” of any particular Security means every
previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.6 in exchange for or in lieu of a
mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 

“Redemption Date,” when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to
this Indenture. 
 “Redemption Price,” when used with respect to any Security to be redeemed, means the price at which it is to be
redeemed pursuant to this Indenture. 
 “Regular Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as contemplated by Section 3.1. 

  
 6 

 “Required Currency” has the meaning specified in Section 1.18. 

“Responsible Officer,” when used with respect to the Trustee, means any officer within the Corporate Trust Office of the Trustee (or
any successor group of the Trustee) or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any
other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 
 “SEC”
means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such commission is not existing and performing the duties now assigned to it
under the Trust Indenture Act, then the body performing such duties at such time. 
 “Securities” has the meaning stated in the
first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 

“Securities Guarantee” means each guarantee of the obligations of the Company under this Indenture and the Securities by a Guarantor
in accordance with the provisions hereof. 
 “Security Register” and “Security Registrar” have the respective meanings
specified in Section 3.5. 
 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 3.7. 
 “Stated Maturity,” when used with respect to any Security or any installment of principal
thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person,
“Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as in force at the date as of which this instrument was
executed, except as provided in Section 9.5; provided, however, that if the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust
Indenture Act of 1939 as so amended. 
 “U.S. Person” shall have the meaning assigned to such term in Section 7701(a)(30) of
the Code. 
 “U.S. Government Obligations” means securities which are (a) direct obligations of the United States for the
payment of which its full faith and credit is pledged, or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States, the payment of which is unconditionally guaranteed as a full
faith and credit obligation by the United States, and which are not callable or redeemable at the option of the issuer thereof. 

“Vice President,” when used with respect to the Company, the Guarantor or the Trustee, means any vice president, regardless of
whether designated by a number or a word or words added before or after the title “vice president.” 

  
 7 

 Section 1.2. Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the Trust Indenture Act, the provision is incorporated by reference in and made a part of this
Indenture. The following Trust Indenture Act terms used in this Indenture have the following meanings: 
 “commission” means the
SEC. 
 “indenture securities” means the Securities. 

“indenture security holder” means a Holder. 

“indenture to be qualified” means this Indenture. 

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

“obligor” on the indenture securities means the Company, the Guarantor (if applicable) or any other obligor on the indenture
securities. 
 All other terms used in this Indenture that are defined by the Trust Indenture Act, defined by a Trust Indenture Act
reference to another statute or defined by an SEC rule under the Trust Indenture Act have the meanings so assigned to them. 
 Section 1.3.
Compliance Certificates and Opinions. 
 Upon any application or request by the Company or a Guarantor to the Trustee to take any
action under any provision of this Indenture, the Company or such Guarantor, as the case may be, shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the
furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished except as required under Section 314(c) of the
Trust Indenture Act. 
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture
(except for certificates provided for in Section 10.5) shall include: 
 (a) a statement that each individual signing
such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 
 (b) a brief
statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

(c) a statement that, in the opinion of each such individual, he has made such examination or investigation as is necessary to
enable him to express an informed opinion as to whether such covenant or condition has been complied with; and 
 (d) a
statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 

  
 8 

 Section 1.4. Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that
all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any
certificate or opinion of an officer of the Company or a Guarantor may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows or, in the exercise of reasonable
care, should know that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual
matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company or the Guarantor, as the case may be, stating that the information with respect to such factual matters is in the possession of the Company or
the Guarantor, as the case may be, unless such counsel knows that the certificate or opinion or representations with respect to such matters are erroneous. 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or
other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Section 1.5. Acts of Holders; Record
Dates. 
 (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this
Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed (either physically or by means of a facsimile or an electronic transmission, provided that such
electronic transmission is transmitted through the facilities of a Depositary) by such Holders in person or by agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such
instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company or the Guarantors. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred
to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to
Section 315 of the Trust Indenture Act) conclusive in favor of the Trustee, the Company and, if applicable, the Guarantors, if made in the manner provided in this Section. 

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

(c) The ownership, principal amount and serial numbers of Securities held by any Person, and the date of commencement of such
Person’s holding of same, shall be proved by the Security Register. 

  
 9 

 (d) Any request, demand, authorization, direction, notice, consent, waiver or
other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done,
omitted or suffered to be done by the Trustee, the Company or, if applicable, the Guarantors in reliance thereon, regardless of whether notation of such action is made upon such Security. 

(e) Without limiting the foregoing, a Holder entitled to give or take any action hereunder with regard to any particular
Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any different part of such principal
amount. 
 (f) The Company may set any day as the record date for the purpose of determining the Holders of Outstanding
Securities of any series entitled to give or take any request, demand, authorization, direction, notice, consent, waiver or other Act provided or permitted by this Indenture to be given or taken by Holders of Securities of such series, but the
Company shall have no obligation to do so. With regard to any record date set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date (or their duly appointed agents), and only such Persons, shall
be entitled to give or take the relevant action, regardless of whether such Holders remain Holders after such record date. 
 Section 1.6. Notices,
Etc., to Trustee, Company and Guarantors. 
 (a) Any notice, request, demand, authorization, direction, consent, waiver
or other communication by the Company, any of the Guarantors or the Trustee to the others is duly given if in writing and delivered in person or mailed by first class mail, postage prepaid, facsimile or overnight air courier guaranteeing next day
delivery, to the others’ address: 
 If to the Company and/or any Guarantor: 

Basic Energy Services, Inc. 
 801
Cherry Street, Suite 2100 
 Fort Worth, Texas 76102 

Telephone: (817) 334-4100 

Facsimile: (817) 334-4101 

Attention: Chief Financial Officer 

with a copy to: 
 Andrews Kurth
LLP 
 600 Travis, Suite 4200 

Houston, Texas 77002 
 Telephone:
(713) 220-4200 
 Facsimile: (713) 220-4285 

Attention: David C. Buck, Esq. 

If to the Trustee: 
 Wells Fargo
Bank, National Association 
 750 N. St. Paul Place, Suite 1750 

T9263-170 

  
 10 

 Dallas, Texas 75201 

Telephone: (214) 756-7431 

Facsimile: (214) 756-7401 

Attention: Corporate Trust, Municipal and Escrow Solutions 

(b) The Company, the Guarantors or the Trustee, by notice to the others, may designate additional or different addresses for
subsequent notices or communications. 
 (c) All notices and communications (other than those sent to Holders) shall be
deemed to have been duly given: at the time delivered by hand, if personally delivered; three Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if telecopied; and the next Business Day after
timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 
 Section 1.7. Notice to Holders; Waiver. 

Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at such Holder’s address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date,
prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice
with respect to other Holders. Any notice mailed to a Holder in the manner herein prescribed shall be conclusively deemed to have been received by such Holder, regardless of whether such Holder actually receives such notice. 

Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice,
either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver. 
 In case it shall be impracticable to give such notice by mail by reason of the suspension of regular mail
service or by reason of any other cause, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

Section 1.8. Conflict with Trust Indenture Act. 

If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under such Act to be a part
of and govern this Indenture, the provision of the Trust Indenture Act shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the provision of the Trust
Indenture Act shall be deemed to apply to this Indenture as so modified or excluded, as the case may be. 
 Section 1.9. Effect of Headings and
Table of Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the
construction hereof. 

  
 11 

 Section 1.10. Successors and Assigns. 

All covenants and agreements in this Indenture by each of the Company and the Guarantors shall bind their respective successors and assigns,
whether so expressed or not. 
 Section 1.11. Separability Clause. 

In case any provision in this Indenture or in the Securities or, if applicable, the Securities 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. 

Section 1.12. Benefits of Indenture. 

Nothing in this Indenture or in the Securities or, if applicable, the Securities Guarantee, express or implied, shall give to any Person, other
than the parties hereto and their successors hereunder and the Holders any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 1.13. Force Majeure. 
 In no
event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including strikes, work stoppages, accidents,
acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the
Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

Section 1.14. Waiver of Jury Trial. 

EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF
ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS INDENTURE. 
 Section 1.15. Governing Law. 

THIS INDENTURE, THE SECURITIES AND THE SECURITIES GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
 Section 1.16. Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be a Business Day at any Place of
Payment, then (notwithstanding any other provision of this Indenture or of the Securities or, if applicable, the Securities Guarantee (other than a provision of the Securities of any series or, if applicable, the Securities Guarantee that
specifically states that such provision shall apply in lieu of this Section 1.16)) payment of interest or principal and any premium need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at
such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, and if payment is so made, no interest shall accrue for the period from and after such Interest Payment Date,
Redemption Date or Stated Maturity, as the case may be. 

  
 12 

 Section 1.17. Securities in a Composite Currency, Currency Unit or Foreign Currency. 

Unless otherwise specified in a Board Resolution, Officer’s Certificate or indenture supplemental hereto delivered pursuant to
Section 3.1 of this Indenture with respect to a particular series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all series
or all series affected by a particular action at the time Outstanding and, at such time, there are Outstanding Securities of any affected series which are denominated in a coin, currency or currencies other than Dollars (including, but not limited
to, any composite currency, currency units or Foreign Currency), then the principal amount of Securities of such series that shall be deemed to be Outstanding for the purpose of taking such action shall be that amount of Dollars that could be
obtained for such amount at the Market Exchange Rate. For purposes of this Section 1.17, the term “Market Exchange Rate” shall mean the noon Dollar buying rate in The City of New York for cable transfers of such currency or currencies
as published by the Federal Reserve Bank of New York, as of the most recent available date. If such Market Exchange Rate is not so available for any reason with respect to such currency, such quotation of the Federal Reserve Bank of New York as of
the most recent available date, or quotations or rates of exchange from one or more major banks in The City of New York or in the country of issue of the currency in question, which for purposes of Euros shall be Brussels, Belgium, or such other
quotations or rates of exchange as appropriate shall be used. The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a series denominated in a currency other than Dollars in connection
with any action taken by Holders of Securities pursuant to the terms of this Indenture. 
 In no event will the Trustee have any duty or
liability regarding the Market Exchange Rate or any alternative determination provided for in the preceding paragraph. 
 Section 1.18. Payment in
Required Currency; Judgment Currency. 
 Each of the Company and the Guarantors agrees, to the fullest extent that it may effectively do
so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of or interest on the Securities of any series (the “Required Currency”) into a
currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Required Currency could be purchased in The City of New York
with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a Banking Day, then, to the extent permitted by applicable law, the rate of exchange used shall be the rate at which in accordance with
normal banking procedures the Required Currency could be purchased in The City of New York with the Judgment Currency on the Banking Day next preceding the day on which final unappealable judgment is entered and (b) its obligations under this
Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment (regardless of whether entered in accordance with subclause (a)), in any currency other than
the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be
enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be
payable and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. 

  
 13 

 Section 1.19. Language of Notices, Etc. 

Any request, demand, authorization, direction, notice, consent, waiver or Act required or permitted under this Indenture shall be in the
English language, except that any published notice may be in an official language of the country of publication. 
 Section 1.20. Incorporators,
Shareholders, Officers and Directors of the Company and the Guarantors Exempt from Individual Liability. 
 No recourse under or
upon any obligation, covenant or agreement of or contained in this Indenture or of or contained in any Security or, if applicable, the Securities Guarantee, or for any claim based thereon or otherwise in respect thereof, or because of the creation
of any indebtedness represented thereby, shall be had against any incorporator, shareholder, member, officer, manager, employee, partner or director, as such, past, present or future, of the Company, any Guarantor or any successor Person, either
directly or through the Company, any Guarantor or any successor Person, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, it being expressly understood that all such
liability is hereby expressly waived and released as a condition of, and as a part of the consideration for, the execution of this Indenture and the issue of the Securities. 

ARTICLE TWO  

SECURITY FORMS 
 Section 2.1.
Forms Generally. 
 The Securities of each series and, if applicable, the notation thereon relating to the Securities Guarantee, shall
be in substantially the form set forth in this Article Two, or in such other form or forms as shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate
insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to
comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Securities and, if applicable, any notation of the Securities Guarantee, as evidenced by their execution thereof. 

The definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as
determined by the officers executing such Securities, as evidenced by their execution thereof. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action
shall be certified by an authorized officer or other authorized person on behalf of the Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 3.3 for the authentication and delivery of
such Securities. 
 The forms of Global Securities of any series shall have such provisions and legends as are customary for Securities of
such series in global form, including without limitation any legend required by the Depositary for the Securities of such series. 
 Section 2.2.
Form of Face of Security. 
 [If the Security is an Original Issue Discount Security and is not “publicly offered” within the
meaning of Treasury Regulations Section 1.1275-1(h), insert—FOR PURPOSES OF SECTION 1275 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED, THIS SECURITY WAS  

  
 14 

 
ISSUED WITH ORIGINAL ISSUE DISCOUNT, THE AMOUNT OF THE ORIGINAL ISSUE DISCOUNT IS [        % OF ITS PRINCIPAL AMOUNT] [$. . . . PER $1,000 OF PRINCIPAL
AMOUNT], THE ISSUE DATE IS . . . . . ., 20. . . AND, THE YIELD TO MATURITY IS . . . . . . . . , COMPOUNDED [SEMIANNUALLY OR OTHER PROPER PERIOD]. 

[In the alternative instead of providing such legend, insert the following legend—FOR PURPOSES OF SECTION 1275 OF THE UNITED STATES
INTERNAL REVENUE CODE OF 1986, AS AMENDED THIS SECURITY WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT, AND. . . . . . . [THE NAME OR TITLE AND ADDRESS OR TELEPHONE NUMBER OF A REPRESENTATIVE OF THE COMPANY] WILL, BEGINNING NO LATER THAN 10 DAYS AFTER THE
ISSUE DATE, PROMPTLY MAKE AVAILABLE TO HOLDERS THE AMOUNT OF ORIGINAL ISSUE DISCOUNT, THE ISSUE DATE, THE YIELD TO MATURITY AND ANY OTHER INFORMATION REQUIRED BY APPLICABLE TREASURY REGULATIONS.] 

[Insert any other legend required by the Code or the regulations thereunder.] 

[If a Global Security,—insert legend required by Section 2.4 of the Indenture] [If applicable, insert —UNLESS THIS
SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY), 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.] 

BASIC ENERGY SERVICES, INC. 

[TITLE OF SECURITY] 
  

			
		
	 No            
		U.S. $        
		
	 [CUSIP No.    ]
		

 BASIC ENERGY SERVICES, INC., a corporation duly organized and existing under the laws of the State of Delaware (herein
called the “Company,” which term includes any successor or resulting Person under the Indenture hereinafter referred to), for value received, hereby promises to pay
to                             , or registered assigns, the principal sum of
                             United States Dollars on
                     . [If the Security is to bear interest prior to Maturity, insert—, and to pay interest thereon from
                     or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually
on             and              in each year, commencing         , at the rate
of        % per annum, until the principal hereof is paid or made available for payment [if applicable, insert—, and at the rate of         % per annum on
any overdue principal and premium and on any installment of interest (to the extent that the payment of such interest shall be legally enforceable)]. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the
         or          (regardless of whether a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or
duly provided for will  

  
 15 

 
forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or
be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture]. 
 [If the Security is not to bear interest prior to Maturity, insert—The principal of this Security shall
not bear interest except in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal of this Security shall bear interest at the rate of . . . .% per annum (to the
extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of such default in payment to the date payment of such principal has been made or duly provided for. Interest on any overdue principal shall be
payable on demand. Any such interest on any overdue principal that is not so paid on demand shall bear interest at the rate of . . . . % per annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue
from the date of such demand for payment to the date payment of such interest has been made or duly provided for, and such interest shall also be payable on demand.] 

[If a Global Security, insert—Payment of the principal of (and premium, if any) and [if applicable, insert—any such] interest
on this Security will be made by transfer of immediately available funds to a bank account in                     designated by the Holder in such
coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts [state other currency].] 

[If a Definitive Security, insert—Payment of the principal of (and premium, if any) and [if applicable, insert—any such]
interest on this Security will be made at the office or agency of the Company maintained for that purpose in                     , in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of public and private debts] [state other currency] [or subject to any laws or regulations applicable thereto and to the right of the Company (as provided
in the Indenture) to rescind the designation of any such Paying Agent, at the [main] offices of                     in
                    , or at such other offices or agencies as the Company may designate, by [United States Dollar] [state other currency] check drawn
on, or transfer to a [United States Dollar] account maintained by the payee with, a bank in The City of New York (so long as the applicable Paying Agency has received proper transfer instructions in writing at least     days
prior to the payment date)] [if applicable, insert—; provided, however, that payment of interest may be made at the option of the Company by [United States Dollar] [state other currency] check mailed to the addresses of the
Persons entitled thereto as such addresses shall appear in the Security Register] [or by transfer to a [United States Dollar] [state other currency] account maintained by the payee with a bank in The City of New York [state other Place of Payment]
(so long as the applicable Paying Agent has received proper transfer instructions in writing by the record date prior to the applicable Interest Payment Date)].] 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse
hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 16 

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

Dated: 
  

			
	BASIC ENERGY SERVICES, INC.
		
	By:	 	  

 Section 2.3. Form of Reverse of Security. 

This Security is one of a duly authorized issue of senior securities of the Company (herein called the “Securities”), issued and to be issued in one
or more series under an Indenture, dated as of        , 20    (herein called the “Indenture”), between the Company, the Guarantors, if any, and Wells Fargo Bank, National
Association, as trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantors, if any, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. As
provided in the Indenture, the Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if any, at different rates, may be subject
to different redemption provisions, if any, may be subject to different sinking, purchase or analogous funds, if any, may be subject to different covenants and Events of Default and may otherwise vary as in the Indenture provided or permitted. This
Security is one of the series designated on the face hereof [, limited in aggregate principal amount to $             ]. 

This security is the general, unsecured, senior obligation of the Company [if applicable, insert—and is guaranteed pursuant to a guarantee
(the “Securities Guarantee”) by [insert name of each Guarantor] (the “Guarantors”). The Securities Guarantee is the general, unsecured, senior obligation of each Guarantor.] 

[If applicable, insert—The Securities of this series are subject to redemption upon not less
than        days’ notice by mail (or electronic transmission in the case of Global Securities), [if applicable, insert—(1) on
                    in any year commencing with the year          and ending with the
year        through operation of the sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2) ] at any time [on or
after            , 20    ], as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal amount):
If redeemed [on or before                            %, and if redeemed] during the 12-month period
beginning         of the years indicated, 
  

							
	Year	 	Redemption Price	 	Year	  	Redemption Price
	        	 		 		  	
	        	 		 		  	

 and thereafter at a Redemption Price equal to        % of the principal amount,
together in the case of any such redemption [if applicable, insert—(whether through operation of the sinking fund or otherwise)] with accrued interest to the Redemption Date, but interest installments the Stated Maturity of which is on
or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant record dates referred to on the face hereof, all as provided in the
Indenture.] 

  
 17 

 [If applicable, insert—The Securities of this series are subject to redemption upon not less
than        nor more than        days’ notice by mail (or electronic transmission in the case of Global Securities),
(1) on        in any year commencing with the year          and ending with the year        through operation of the sinking
fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below, and (2) at any time [on or
after                    ], as a whole or in part, at the election of the Company, at the Redemption Prices for redemption otherwise than through
operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month period
beginning                    of the years indicated, 
  

					
	Year	  	Redemption Price For
Redemption Through
Operation of the Sinking Fund	  	Redemption Price for
Redemption Otherwise Than Through
Operation of the Sinking Fund
	    	  		  	
		  		  	
	    	  		  	

 and thereafter at a Redemption Price equal to . . . . % of the principal amount, together in the case of any such redemption
(whether through operation of the sinking fund or otherwise) with accrued interest to the Redemption Date, but interest installments the Stated Maturity of which is on or prior to such Redemption Date will be payable to the Holders of such
Securities, or one or more Predecessor Securities, of record at the close of business on the relevant record dates referred to on the face hereof, all as provided in the Indenture.] 

[If applicable, insert—Notwithstanding the foregoing, the Company may not, prior to
                    , redeem any Securities of this series as contemplated by [clause (2) of] the preceding paragraph as a part of, or in
anticipation of, any refunding operation by the application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial practice) of less
than        % per annum.] 
 [If applicable, insert—The sinking fund for this series provides for the
redemption on                     , in each year beginning with the year        and ending with the year
        of [not less than] $            [ (“mandatory sinking fund”) and not more than
$            ] aggregate principal amount of Securities of this series. [Securities of this series acquired or redeemed by the Company otherwise than through [mandatory] sinking fund
payments may be credited against subsequent [mandatory] sinking fund payments otherwise required to be made [If applicable, insert— in the inverse order in which they become due].] 

[If the Securities are subject to redemption in part of any kind, insert—In the event of redemption of this Security in part only, a new Security
or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 

  
 18 

 [If applicable, insert—The Securities of this series are not redeemable prior to Stated Maturity.]

 [If the Security is not an Original Issue Discount Security,—If an Event of Default with respect to Securities of this series shall occur and
be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 

[If the Security is an Original Issue Discount Security,—If an Event of Default with respect to Securities of this series shall occur and be
continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall be equal to —insert formula for determining the amount.
Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal and overdue interest (in each case to the extent that the payment of such interest shall be legally enforceable), all of
the Company’s obligations in respect of the payment of the principal of and interest, if any, on the Securities of this series shall terminate.] 
 The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company [If applicable, insert—and the Guarantors] and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company [If applicable, insert—and the Guarantors] and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by the Company [If applicable, insert—and the Guarantors] with certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, regardless of whether notation of such consent or waiver is made upon this Security. 
 No reference herein to the Indenture and
no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Security at the times, place(s) and rate,
and in the coin or currency, herein prescribed. 
 [If a Global Security, insert—This Global Security or portion hereof may not be exchanged for
Definitive Securities of this series except in the limited circumstances provided in the Indenture. The holders of beneficial interests in this Global Security will not be entitled to receive physical delivery of Definitive Securities except as
described in the Indenture and will not be considered the Holders thereof for any purpose under the Indenture.] 
 [If a Definitive Security,
insert—As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registerable in the Security Register, upon surrender of this Security for registration of transfer at the office or
agency of the Company in [if applicable, insert—any place where the principal of and any premium and interest on this Security are payable] [if applicable, insert—The City of New York [, or, subject to any laws or regulations
applicable thereto and to the right of the Company (limited as provided in the Indenture) to rescind the designation of any such transfer agent, at the [main] offices of
                     in                      or
at such other offices or agencies as the Company may designate]], duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or such
Holder’s attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees.] 

  
 19 

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

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration of transfer, the Company, [If
applicable, insert—any Guarantor,] the Trustee and any agent of the Company [If applicable, insert—, a Guarantor] or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all
purposes, regardless of whether this Security be overdue, and none of the Company, [If applicable, insert—the Guarantors,] the Trustee nor any such agent shall be affected by notice to the contrary. 

No recourse under or upon any obligation, covenant or agreement of or contained in the Indenture or of or contained in any Security, [If applicable,
insert—, or the Securities Guarantee endorsed thereon,] or for any claim based thereon or otherwise in respect thereof, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, shareholder,
member, officer, manager or director, as such, past, present or future, of the Company [If applicable, insert—or any Guarantor] or of any successor Person, either directly or through the Company [If applicable, insert—or any
Guarantor] or any successor Person, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment, penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the consideration for, the Securities and the execution of the Indenture. 
 The
Indenture provides that the Company [If applicable, insert—and the Guarantors] (a) will be discharged from any and all obligations in respect of the Securities (except for certain obligations described in the Indenture), or
(b) need not comply with certain restrictive covenants of the Indenture, in each case if the Company [If applicable, insert—or a Guarantor] deposits, in trust, with the Trustee money or U.S. Government Obligations (or a combination
thereof) which through the payment of interest thereon and principal thereof in accordance with their terms will provide money, in an amount sufficient to pay all the principal of and interest on the Securities, but such money need not be segregated
from other funds except to the extent required by law. 
 Except as otherwise defined herein, all terms used in this Security that are defined in the
Indenture shall have the meanings assigned to them in the Indenture. 
  

			
	[If a Definitive Security, insert as a separate page—
	
	FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
	
                     
                                        
		
	(Please Print or Type Name and Address of Assignee)

 the within instrument of BASIC ENERGY SERVICES, INC. and does hereby irrevocably constitute and appoint
                     Attorney to transfer said instrument on the books of the within-named Company, with full power of substitution in the premises.

  
 20 

 Please Insert Social Security or Other Identifying Number of Assignee: 

 

							
	 				 
				
	 Dated:
		 				 
							(Signature)

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in
every particular, without alteration or enlargement or any change whatsoever.] 
 [If a Security to which Article Fourteen has been made applicable,
insert the following Form of Notation on such Security relating to the Securities Guarantee— 
 Each of the Guarantors (which term includes
any successor Person in such capacity under the Indenture), has fully, unconditionally and absolutely guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture, the due and punctual payment of the principal
of, and premium, if any, and interest on the Securities of this series and all other amounts due and payable under the Indenture and the Securities of this series by the Company. 

The obligations of the Guarantors to the Holders of Securities of this series and to the Trustee pursuant to the Securities Guarantee and the Indenture are
expressly set forth in Article Fourteen of the Indenture and reference is hereby made to the Indenture for the precise terms of the Securities Guarantee. 

 

					
	Guarantors:		
		
	[NAME OF EACH GUARANTOR]		
			
	By:		 		 
			 		]

 Section 2.4. Global Securities. 

Every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form: 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 

  
 21 

 If Securities of a series are issuable in whole or in part in the form of one or more Global
Securities, as specified as contemplated by Section 3.1, then, notwithstanding clause (i) of Section 3.1 and the provisions of Section 3.2, any Global Security shall represent such of the Outstanding Securities of such series as
shall be specified therein and may provide that it shall represent the aggregate amount of Outstanding Securities from time to time endorsed thereon and that the aggregate amount of Outstanding Securities represented thereby may from time to time be
reduced or increased, as the case may be, to reflect exchanges. Any endorsement of a Global Security to reflect the amount, or any reduction or increase in the amount, of Outstanding Securities represented thereby shall be made in such manner and
upon instructions given by such Person or Persons as shall be specified therein or in a Company Order. Subject to the provisions of Section 3.3, Section 3.4 and Section 3.5, the Trustee shall deliver and redeliver any Global Security
in the manner and upon instructions given by the Person or Persons specified therein or in the applicable Company Order. Any instructions by the Company with respect to endorsement or delivery or redelivery of a Global Security shall be in a Company
Order (which need not comply with Section 1.3 and need not be accompanied by an Opinion of Counsel). 
 The provisions of the last
sentence of Section 3.3 shall apply to any Security represented by a Global Security if such Security was never issued and sold by the Company and the Company delivers to the Trustee the Global Security together with a Company Order (which need
not comply with Section 1.3 and need not be accompanied by an Opinion of Counsel) with regard to the reduction or increase, as the case may be, in the principal amount of Securities represented thereby, together with the written statement
contemplated by the last sentence of Section 3.3. 
 Section 2.5. Form of Trustee’s Certificate of Authentication. 

The Trustee’s certificate(s) of authentication shall be in substantially the following form: 

This is one of the Securities of the series designated [insert title of applicable series] referred to in the within-mentioned
Indenture. 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

		
	By:		  

			Authorized Officer

 ARTICLE THREE 

THE SECURITIES 
 Section 3.1.
Amount Unlimited; Issuable in Series. 
 The aggregate principal amount of Securities that may be authenticated and delivered under
this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board
Resolution, and set forth, or determined in the manner provided, in an Officer’s Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 

(a) the title of the Securities of the series (which shall distinguish the Securities of the series from all other Securities
and which may be part of a series of Securities previously issued); 

  
 22 

 (b) any limit upon the aggregate principal amount of the Securities of the series
which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 3.4,
Section 3.5, Section 3.6, Section 9.6 or Section 11.7 and except for any Securities which, pursuant to Section 3.3, are deemed never to have been authenticated and delivered hereunder); 

(c) the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name that
Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 

(d) the date or dates on which the principal of the Securities of the series is payable or the method of determination thereof;

 (e) the rate or rates at which the Securities of the series shall bear interest, if any, or the formula, method or
provision pursuant to which such rate or rates are determined, the date or dates from which such interest shall accrue or the method of determination thereof, the Interest Payment Dates on which such interest shall be payable and the Regular Record
Date for the interest payable on any Interest Payment Date; 
 (f) the place or places where, subject to the provisions of
Section 10.2, the principal of and any premium and interest on Securities of the series shall be payable, Securities of the series may be surrendered for registration of transfer, Securities of the series may be surrendered for exchange, and
notices and demands to or upon the Company in respect of the Securities of the series and this Indenture may be served; 

(g) the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the
series may be redeemed, in whole or in part, at the option of the Company; 
 (h) the obligation, if any, of the Company to
redeem or purchase Securities of the series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which
Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 (i) if other
than denominations of $1,000 and any integral multiple thereof, the denominations in which Securities of the series shall be issuable; 

(j) whether payment of principal of and premium, if any, and interest, if any, on the Securities of the series shall be without
deduction for taxes, assessments or governmental charges paid by Holders of the series; 
 (k) if other than the principal
amount thereof, the portion of the principal amount of Securities of the series that shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.2; 

(l) if the amount of payments of principal of and any premium or interest on the Securities of the series may be determined
with reference to an index, the manner in which such amounts shall be determined; 

  
 23 

 (m) if and as applicable, that the Securities of the series shall be issuable in
whole or in part in the form of one or more Global Securities and, in such case, the Depositary or Depositaries for such Global Security or Global Securities and any circumstances other than those set forth in Section 3.5 in which any such
Global Security may be transferred to, and registered and exchanged for Securities registered in the name of, a Person other than the Depositary for such Global Security or a nominee thereof and in which any such transfer may be registered; 

(n) any deletions from, modifications of or additions to the Events of Default set forth in Section 5.1 or the covenants
of the Company set forth in Article Ten with respect to the Securities of such series; 
 (o) whether and under what
circumstances the Company will pay additional amounts on the Securities of the series held by a Person who is not a U.S. Person in respect of any tax, assessment or governmental charge withheld or deducted and, if so, whether the Company will have
the option to redeem the Securities of the series rather than pay such additional amounts; 
 (p) if the Securities of the
series are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary Security of such series) only upon receipt of certain certificates or other documents or satisfaction of other conditions, the form and terms
of such certificates, documents or conditions; 
 (q) if the Securities of the series are to be convertible into or
exchangeable for any other security or property of the Company, including, without limitation, securities of another Person held by the Company or its Affiliates and, if so, the terms thereof; 

(r) if other than as provided in Section 13.2 and Section 13.3, the means of Legal Defeasance or Covenant Defeasance
as may be specified for the Securities of the series; 
 (s) if other than the Trustee, the identity of the initial Security
Registrar and any initial Paying Agent; 
 (t) whether the Securities of the series will be guaranteed pursuant to the
Securities Guarantee set forth in Article Fourteen, any modifications to the terms of Article Fourteen applicable to the Securities of such series and the applicability of any other guarantees; and 

(u) any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture). 

All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or
pursuant to the Board Resolution referred to above and (subject to Section 3.3) set forth, or determined in the manner provided, in the Officer’s Certificate referred to above or in any such indenture supplemental hereto. 

All Securities of any one series need not be issued at the same time and, unless otherwise provided, a series may be reopened, without the
consent of the Holders, for increases in the aggregate principal amount of such series of Securities and issuances of additional Securities of such series or for the establishment of additional terms with respect to the Securities of such series.

 If any of the terms of the series are established by action taken by or pursuant to a Board Resolution, a copy of an appropriate record
of such action shall be certified by an authorized officer or other authorized person on behalf of the Company and, if applicable, the Guarantors and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate setting
forth, or providing the manner for determining, the terms of the series. 

  
 24 

 With respect to Securities of a series subject to a Periodic Offering, such Board Resolution or
Officer’s Certificate may provide general terms for Securities of such series and provide either that the specific terms of particular Securities of such series shall be specified in a Company Order or that such terms shall be determined by the
Company and, if applicable, the Guarantors or one or more agents thereof designated in an Officer’s Certificate, in accordance with a Company Order. 

Section 3.2. Denominations. 
 The
Securities of each series shall be issuable in registered form without coupons in such denominations as shall be specified as contemplated by Section 3.1. In the absence of any such provisions with respect to the Securities of any series, the
Securities of such series shall be issuable in denominations of $1,000 and any integral multiple thereof. 
 Section 3.3. Execution, Authentication,
Delivery and Dating. 
 The Securities shall be executed on behalf of the Company by its Chairman of the Board, its Chief Executive
Officer, its President, its Chief Financial Officer or any of its Vice Presidents and need not be attested. The signature of any of these officers on the Securities may be manual or facsimile. Any notation of Securities Guarantee endorsed on the
Securities shall be executed on behalf of the applicable Guarantor by its Chairman of the Board, its Chief Executive Officer, its President, its Chief Financial Officer or any of its Vice Presidents and need not be attested. The signature of any of
these officers on any notation of the Securities Guarantee may be manual or facsimile. 
 Securities and any notation of a Securities
Guarantee bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company or a Guarantor, as the case may be, shall bind the Company or such Guarantor, as the case may be, notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities;
provided, however, that in the case of Securities offered in a Periodic Offering, the Trustee shall authenticate and deliver such Securities from time to time in accordance with such other procedures (including, without limitation, the
receipt by the Trustee of written instructions from the Company) acceptable to the Trustee as may be specified by or pursuant to a Company Order delivered to the Trustee prior to the time of the first authentication of Securities of such series. If
the forms or terms of the Securities of the series have been established in or pursuant to one or more Board Resolutions as permitted by Section 2.1 and Section 3.1, in authenticating such Securities, and accepting the additional
responsibilities under this Indenture in relation to such Securities, the Trustee shall be fully protected in relying on such Board Resolution and shall be entitled to receive such documents as it may reasonably request. The Trustee shall also be
entitled to receive, and (subject to Section 6.1) shall be fully protected in relying upon, an Officer’s Certificate pursuant to Section 3.1 and complying with Section 1.3 and an Opinion of Counsel complying with Section 1.3
stating: 
 (a) if the form or forms of such Securities has been established in or pursuant to a Board Resolution as
permitted by Section 2.1, that each such form has been established in conformity with the provisions of this Indenture; 

  
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 (b) if the terms of such Securities have been, or in the case of Securities of a
series offered in a Periodic Offering will be, established in or pursuant to a Board Resolution as permitted by Section 3.1, that such terms have been, or in the case of Securities of a series offered in a Periodic Offering will be, established
in conformity with the provisions of this Indenture, subject, in the case of Securities of a series offered in a Periodic Offering, to any conditions specified in such Opinion of Counsel; and 

(c) that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject
to any conditions and assumptions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company and, if applicable, the Securities Guarantees thereof will constitute valid and legally binding obligations
of the Guarantors, enforceable in accordance with their respective terms, subject to the following limitations: (i) bankruptcy, insolvency, moratorium, reorganization, liquidation, fraudulent conveyance or transfer and other similar laws of
general applicability relating to or affecting the enforcement of creditors’ rights, or to general equity principles, (ii) the availability of equitable remedies being subject to the discretion of the court to which application therefor is
made; and (iii) such other usual and customary matters as shall be specified in such Opinion of Counsel. 
 The Trustee shall not be required to
authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably
acceptable to the Trustee. 
 Notwithstanding the provisions of Section 3.1 and of the preceding paragraph, if all Securities of a
series are not to be originally issued at one time, it shall not be necessary to deliver the Officer’s Certificate otherwise required pursuant to Section 3.1 or the Company Order and Opinion of Counsel otherwise required pursuant to such
preceding paragraph at or prior to the time of authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 

With respect to Securities of a series offered in a Periodic Offering, the Trustee may rely, as to the authorization by the Company of any of
such Securities, on the form or forms and terms thereof and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and the other documents delivered pursuant to Section 2.1 and Section 3.1 and this
Section, as applicable, in connection with the first authentication of Securities of such series. 
 Each Security shall be dated the date
of its authentication. 
 No Security nor any related Securities Guarantee shall be entitled to any benefit under this Indenture or be valid
or obligatory for any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein executed by the Trustee or an Authenticating Agent by manual signature of an authorized officer, and
such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if any
Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 3.9, for all purposes of this Indenture
such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

  
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 Section 3.4. Temporary Securities. 

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

If temporary Securities of any series are issued, the Company will cause Definitive Securities of that series to be prepared without
unreasonable delay. After the preparation of Definitive Securities of such series, the temporary Securities of such series shall be exchangeable for Definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor a like principal amount of Definitive Securities of the same series and tenor of authorized denominations. Until so exchanged the temporary Securities of any series shall in all respects be entitled to
the same benefits under this Indenture as Definitive Securities of such series. 
 Section 3.5. Registration, Registration of Transfer and
Exchange. 
 The Company shall cause to be kept at the office or agency of the Company in a Place of Payment required by
Section 10.2 a register (the register maintained in such office being herein sometimes referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of Securities and of transfers of Securities. The Trustee is hereby appointed as the initial “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein provided, and its Operations
Office, which, at the date hereof, is located at Wells Fargo Bank, N.A., Corporate Trust Operations, 6th Street & Marquette Avenue, Minneapolis, MN 55479, is the initial office or agency where the Securities Register will be maintained. The
Company may at any time replace such Security Registrar, change such office or agency or act as its own Security Registrar. The Company will give prompt written notice to the Trustee of any change of the Security Registrar or of the location of such
office or agency. 
 Upon surrender for registration of transfer of any Security of any series at the office or agency maintained pursuant
to Section 10.2 for such purpose, the Company and, if applicable, the Guarantors shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities, with a notation
of the Securities Guarantee, if applicable, executed by the Guarantors, of the same series and tenor, of any authorized denominations and of a like aggregate principal amount. 

At the option of the Holder, Securities of any series (except a Global Security) may be exchanged for other Securities of the same series and
tenor, of any authorized denominations and of a like aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company and, if applicable, the
Guarantors shall execute and the Trustee shall authenticate and deliver, the Securities, with a notation of the Securities Guarantee, if applicable, executed by the Guarantors, which the Holder making the exchange is entitled to receive. 

All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company and, if
applicable, the Guarantors evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 

  
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 Every Security presented or surrendered for registration of transfer or for exchange shall (if so
required by the Company or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or such Holder’s attorney duly
authorized in writing. 
 No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may
require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.4, Section 9.6 or
Section 11.7 not involving any transfer. 
 The Company shall not be required (a) to issue, register the transfer of or exchange
Securities of any series during a period beginning at the opening of business 15 days before the notice of redemption of Securities of that series selected for redemption under Section 11.3 is sent and ending at the close of business on the day
of the delivery thereof, or (b) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

Notwithstanding any other provisions of this Indenture and except as otherwise specified with respect to any particular series of Securities
as contemplated by Section 3.1, a Global Security representing all or a portion of the Securities of a series may not be transferred, except as a whole by the Depositary for such series to a nominee of such Depositary or by a nominee of such
Depositary to such Depositary or another nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor Depositary. Every Security authenticated and delivered upon
registration of, transfer of, or in exchange for or in lieu of, a Global Security shall be a Global Security except as provided in the two paragraphs immediately following. 

If at any time the Depositary for any Securities of a series represented by one or more Global Securities notifies the Company that it is
unwilling or unable to continue as Depositary for such Securities or if at any time the Depositary for such Securities shall no longer be eligible to continue as Depositary under Section 3.1 or ceases to be a clearing agency registered under
the Exchange Act, the Company shall appoint a successor Depositary with respect to such Securities. If a successor Depositary for such Securities is not appointed by the Company within 90 days after the Company receives such notice or becomes aware
of such ineligibility, the Company’s election pursuant to Section 3.1 that such Securities be represented by one or more Global Securities shall no longer be effective and the Company and, if applicable, the Guarantors will execute and the
Trustee, upon receipt of a Company Order for the authentication and delivery of Definitive Securities of such series, will authenticate and deliver, Securities, with a notation of the Securities Guarantee, if applicable, executed by the Guarantors,
of such series in definitive registered form without coupons, in any authorized denominations, in an aggregate principal amount equal to the principal amount of the Global Security or Securities representing such Securities in exchange for such
Global Security or Securities registered in the names of such Persons as the Depositary shall direct. 
 If specified by the Company
pursuant to Section 3.1 with respect to Securities represented by a Global Security, the Depositary for such Global Security may surrender such Global Security in exchange in whole or in part for Securities of the same series and tenor in
definitive registered form on such terms as are acceptable to the Company, the Trustee and such Depositary. Thereupon, the Company and, if applicable, the Guarantors shall execute, and the Trustee, upon receipt of a Company Order for the

  
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authentication and delivery of Securities in definitive registered form, shall authenticate and deliver, without service charge: 

(a) to the Person specified by such Depositary a new Security or Securities, with a notation of the Securities Guarantee, if
applicable, executed by the Guarantors, of the same series and tenor, of any authorized denominations as requested by such Person, in an aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the Global
Security; and 
 (b) to such Depositary a new Global Security, with a notation of the Securities Guarantee, if applicable,
executed by the Guarantors, in a denomination equal to the difference, if any, between the principal amount of the surrendered Global Security and the aggregate principal amount of Securities authenticated and delivered pursuant to clause
(a) above. 
 Every Person who takes or holds any beneficial interest in a Global Security agrees that: 

(i) the Company, the Guarantors (if applicable) and the Trustee may deal with the Depositary as sole owner of the Global
Security and as the authorized representative of such Person; 
 (ii) such Person’s rights in the Global Security shall
be exercised only through the Depositary and shall be limited to those rights established by law and agreement between such Person and the Depositary and/or direct and indirect participants of the Depositary; 

(iii) the Depositary and its participants make book-entry transfers of beneficial ownership among, and receive and transmit
distributions of the principal of (and premium, if any) and interest on the Global Securities to, such Persons in accordance with their own procedures; and 

(iv) none of the Company, the Guarantors (if applicable), the Trustee, nor any agent of any of them will have any
responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership
interests. 
 Section 3.6. Mutilated, Destroyed, Lost and Stolen Securities. 

If any mutilated Security is surrendered to the Trustee, together with such security or indemnity as may be required by the Company, the
Guarantors (if applicable) or the Trustee to save each of them and any agent of any of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a protected purchaser, the Company and, if
applicable, the Guarantors shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security, with a notation of the Securities Guarantee, if applicable, executed by the Guarantors, of the same series and of like tenor
and principal amount and bearing a number not contemporaneously outstanding. 
 If there shall be delivered to the Company, the Guarantors
(if applicable) and the Trustee (a) evidence to their satisfaction of the destruction, loss or theft of any Security and (b) such security or indemnity as may be required by them to save each of them and any agent of any of them harmless,
then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a protected purchaser, the Company and, if applicable, the Guarantors shall execute and the Trustee shall authenticate and deliver, in lieu of any
such destroyed, lost or stolen Security, a new Security, with a notation of the Securities Guarantee, if applicable, executed by the Guarantors, of the same series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding. 

  
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 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become
due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new
Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee)
connected therewith. 
 Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security
shall constitute an original additional contractual obligation of the Company and, if applicable, the Guarantors, regardless of whether the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all
the benefits of this Indenture equally and proportionately with any and all other Securities of that series duly issued hereunder. 
 The
provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

Section 3.7. Payment of Interest; Interest Rights Preserved. 

Except as otherwise provided as contemplated by Section 3.1 with respect to any series of Securities, interest on any Security that is
payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for
such interest. 
 Any interest on any Security of any series that is payable, but is not punctually paid or duly provided for, on any
Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company,
at its election in each case, as provided in clause (a) or (b) below: 
 (a) The Company may elect to make payment
of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which
shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company
shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon, the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest
that shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company
of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid (or sent by
electronic transmission in the case of Global Securities), to each Holder of Securities of such series at such Holder’s address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the
proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed or sent, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). 

  
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 (b) The Company may make payment of any Defaulted Interest on the Securities of
any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the
Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing
provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by
such other Security. 
 Section 3.8. Persons Deemed Owners. 

Except as otherwise provided as contemplated by Section 3.1 with respect to any series of Securities, prior to due presentment of a
Security for registration of transfer, the Company, the Trustee and, if applicable, the Guarantors and any agent thereof may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving
payment of principal of and any premium and (subject to Section 3.5 and Section 3.7) any interest on such Security and for all other purposes whatsoever, regardless of whether such Security be overdue, and none of the Company, the Trustee
nor, if applicable, the Guarantors nor any agent of any of them shall be affected by notice to the contrary. 
 No holder of any beneficial
interest in any Global Security held on its behalf by a Depositary shall have any rights under this Indenture with respect to such Global Security, and such Depositary may be treated by the Company, the Trustee, and, if applicable, the Guarantors
and any agent of any thereof as the owner of such Global Security for all purposes whatsoever. 
 Section 3.9. Cancellation. 

All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall,
if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered
hereunder that the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder that the Company has not
issued and sold, and all Securities so delivered shall be promptly canceled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided in this Section, except as expressly permitted by this
Indenture. All canceled Securities held by the Trustee shall be disposed of in accordance with its customary practices, and the Trustee shall thereafter deliver to the Company a certificate with respect to such disposition from time to time upon
written request. 
 Section 3.10. Computation of Interest. 

Except as otherwise specified as contemplated by Section 3.1 for Securities of any series, interest on the Securities of each series shall
be computed on the basis of a 360-day year comprised of twelve 30-day months. 

  
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 Section 3.11. CUSIP or CINS Numbers. 

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

SATISFACTION AND DISCHARGE 

Section 4.1. Satisfaction and Discharge of Indenture. 

This Indenture shall cease to be of further effect and will be discharged with respect to the Securities of any series (except as to any
surviving rights of registration of transfer or exchange of Securities and certain rights of the Trustee, in each case, herein expressly provided for), and the Trustee, upon Company Request and at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture with respect to such Securities, when: 
 (a) either: 

(i) all such Securities theretofore authenticated and delivered (other than (A) such Securities which have been destroyed,
lost or stolen and which have been replaced or paid as provided in Section 3.6, and (B) such Securities for the payment of which money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter
repaid to the Company or discharged from such trust, as provided in Section 10.3) have been delivered to the Trustee for cancellation; or 

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

(A) have become due and payable; or 

(B) will become due and payable at their Stated Maturity within one year; or 

(C) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the case of (ii)(A), (B) or
(C) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for
cancellation, for principal (and premium, if any) and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be, together with instructions
from the Company irrevocably directing the Trustee to apply such funds to the payment thereof at maturity or redemption, as the case may be; 

  
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 (b) the Company has paid or caused to be paid all other sums payable hereunder by
the Company with respect to such Securities; and 
 (c) the Company has delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, which, taken together, state that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such Securities have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture with respect to the Securities of any series, (x) the obligations of the Company to the
Trustee under Section 6.7, the obligations of the Trustee to any Authenticating Agent under Section 6.14 and the right of the Trustee to resign under Section 6.10 shall survive, and (y) if money shall have been deposited with the
Trustee pursuant to clause (a) of this Section, the obligations of the Company and the Trustee under Section 3.5, Section 3.6, Section 4.2, Section 6.6, Section 10.2, the last paragraph of Section 10.3 and
Section 13.6 shall survive. 
 Section 4.2. Application of Trust Money. 

Subject to the provisions of the last paragraph of Section 10.3, all money deposited with the Trustee pursuant to Section 4.1 shall
be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal and any premium and interest for the payment of which such money has been deposited with the Trustee. 

ARTICLE FIVE 

REMEDIES 
 Section 5.1.
Events of Default. 
 “Event of Default,” wherever used herein with respect to Securities of any series, means any one of
the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body): 
 (a) default in the payment of any interest upon any Security of that series when it
becomes due and payable, and continuance of such default for a period of 30 days; or 
 (b) default in the payment of the
principal of (or premium, if any, on) any Security of that series at its Maturity; or 
 (c) default in the performance, or
breach, of any covenant set forth in Article Ten in this Indenture (other than a covenant a default in the performance of which or the breach of which is elsewhere in this Section specifically dealt with or which has expressly been included in
this Indenture solely for the benefit of series of Securities other than that series), and continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to
the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is
a “Notice of Default” hereunder; or 

  
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 (d) default in the performance, or breach, of any covenant in this Indenture
(other than a covenant in Article Ten or any other covenant a default in the performance of which or the breach of which is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the
benefit of series of Securities other than that series), and continuance of such default or breach for a period of 180 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee
by the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of
Default” hereunder; or 
 (e) the Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a
voluntary case, (ii) consents to the entry of any order for relief against the Company in an involuntary case, (iii) consents to the appointment of a Custodian of the Company or for all or substantially all of the property of the Company,
or (iv) makes a general assignment for the benefit of the creditors of the Company; or 
 (f) a court of competent
jurisdiction enters an order or decree under any Bankruptcy Law that (i) is for relief against the Company in an involuntary case, (ii) appoints a Custodian of the Company or for all or substantially all of the property of the Company, or
(iii) orders the liquidation of the Company; and the order or decree remains unstayed and in effect for 60 consecutive days; or 

(g) default in the deposit of any sinking fund payment when due; or 

(h) any other Event of Default provided with respect to Securities of that series in accordance with Section 3.1. 

Section 5.2. Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the
Trustee or the Holders of 25% in aggregate principal amount of the Outstanding Securities of that series may declare the principal amount (or, if the Securities of that series are Original Issue Discount Securities, such portion of the principal
amount as may be specified in the terms of that series) and all accrued and unpaid interest of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders),
and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. Notwithstanding the foregoing, if an Event of Default specified in clause (e) or (f) of Section 5.1 occurs, the
Securities of any series at the time Outstanding shall be due and payable immediately without further action or notice. 
 At any time after
such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of
a majority in aggregate principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: 

(a) the Company or, if applicable, one or more of the Guarantors has paid or deposited with the Trustee a sum sufficient to
pay: 
 (i) all overdue interest on all Securities of that series; 

  
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 (ii) the principal of (and premium, if any, on) any Securities of that series
that has become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities; 

(iii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed
therefor in such Securities; and 
 (iv) all sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel; and 
 (b) all Events of Default with respect to
Securities of that series, other than the non-payment of the principal of Securities of that series that has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 

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

Section 5.3. Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if: 

(a) default is made in the payment of any installment of interest on any Security when such interest becomes due and payable
and such default continues for a period of 30 days; or 
 (b) default is made in the payment of the principal of (or premium,
if any, on) any Security at the Maturity thereof; 
 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any premium and on
any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel. 
 If the Company fails to pay such amounts forthwith upon such demand,
the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the
Company or, if applicable, the Guarantors or any other obligor upon such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or, if applicable, the Guarantors or any
other obligor upon such Securities, wherever situated. 
 If an Event of Default with respect to Securities of any series occurs and is
continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and
enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

  
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 Section 5.4. Trustee May File Proofs of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other
judicial proceeding relative to the Company or, if applicable, any Guarantor or any other obligor upon the Securities, their property or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and
payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company or, if applicable, the Guarantors for the payment of overdue principal or interest) shall be entitled and
empowered, by intervention in such proceeding or otherwise: 
 (a) to file and prove a claim for the whole amount of
principal (and premium, if any) and interest owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding; and 

(b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same;

 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized
by each Holder to make such payments to the Trustee and, if the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.7. 
 No provision of
this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, compromise, arrangement, adjustment or composition affecting the Securities or, if applicable,
the Securities Guarantee or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for
the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 
 Section 5.5.
Trustee May Enforce Claims Without Possession of Securities. 
 All rights of action and claims under this Indenture or the Securities
may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee
of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the
Securities in respect of which such judgment has been recovered. 
 Section 5.6. Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article Five shall be applied in the following order, at the date or dates fixed by
the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid: 
 FIRST: To the payment of all amounts due the Trustee under Section 6.7; 

  
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 SECOND: To the payment of the amounts then due and unpaid for principal of and
any premium and interest on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal
and any premium and interest, respectively; and 
 THIRD: The balance, if any, to the Company. 

Section 5.7. Limitation on Suits. 

No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture
(including, if applicable, the Securities Guarantee), or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 

(a) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the
Securities of that series; 
 (b) the Holders of not less than 25% in aggregate principal amount of the Outstanding
Securities of that series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(c) such Holder or Holders have offered to the Trustee reasonable indemnity satisfactory to the Trustee against the costs,
expenses and liabilities to be incurred in compliance with such request; 
 (d) the Trustee for 60 days after its receipt of
such notice, request and offer of indemnity has failed to institute any such proceeding; and 
 (e) no direction inconsistent
with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series; 

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

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

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of and any premium and interest on such Security on the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of
any such payment, and such rights shall not be impaired without the consent of such Holder. 

  
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 Section 5.9. Restoration of Rights and Remedies. 

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

Section 5.10. Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 3.6, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
 Section 5.11. Delay or Omission Not Waiver. 

To the fullest extent permitted by applicable law, no delay or omission of the Trustee or of any Holder of any Securities to exercise any right
or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article Five or by law to the Trustee or to
the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

Section 5.12. Control by Holders. 

The Holders of a majority in aggregate principal amount of the Outstanding Securities of any series shall have the right to direct the
time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series; provided, however, that: 

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

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

(c) subject to the provisions of Section 6.1, the Trustee shall have the right to decline to follow any such direction if
the Trustee in good faith shall determine that the direction would expose the Trustee to personal liability. 
 Section 5.13. Waiver of Past
Defaults. 
 By written notice to the Company and the Trustee, the Holders of a majority in aggregate principal amount of the Outstanding
Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except: 

(a) a continuing default in the payment of the principal of or any premium, if any, or interest on any Security of such series;
or 

  
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 (b) a default in respect of a covenant or provision hereof that under
Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 
 Upon any such
waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other default or impair any right
consequent thereon. 
 Section 5.14. Undertaking for Costs. 

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

Section 5.15. Waiver of Stay, Extension or Usury Laws. 

Each of the Company and the Guarantors covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead,
or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and each of the
Company and the Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee,
but will suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE SIX 

THE TRUSTEE 
 Section 6.1.
Certain Duties and Responsibilities. 
 (a) Except during the continuance of an Event of Default with respect to the
Securities of a particular series: 
 (i) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and as are provided by the Trust Indenture Act with respect to the Securities of such series, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

  
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 (ii) in the absence of bad faith on its part, the Trustee may conclusively rely,
as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or
opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether they conform to the requirements of this Indenture. 

(b) In case an Event of Default has occurred and is continuing with respect to the Securities of a particular series, the
Trustee shall exercise with respect to the Securities of such series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the
circumstances in the conduct of his own affairs. 
 (c) No provision of this Indenture shall be construed to relieve the
Trustee from liability for its own negligent action, its own negligent failure to act or willful misconduct, except that: 

(i) this Subsection shall not be construed to limit the effect of Subsection (a) of this Section; 

(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be
proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (iii) the Trustee shall not be liable with
respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in aggregate principal amount of the Outstanding Securities of any series, given pursuant to Section 5.12,
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series; and 

(iv) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it. 
 (d) Regardless of whether therein expressly so provided, every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 

Section 6.2. Notice of Defaults. 

Within 90 days after the occurrence of any Default hereunder with respect to the Securities of any series, the Trustee shall transmit by
mail (or electronic transmission in the case of Global Securities) to all Holders of Securities of such series, as their names and addresses appear in the Security Register, notice of such Default hereunder known to the Trustee, unless such Default
shall have been cured or waived; provided, however, that, except in the case of a Default in the payment of the principal of or any premium or interest on any Security of such series or in the payment of any sinking fund installment
with respect to Securities of such series, the Trustee may withhold from Holders of Securities notice of any continuing  

  
 40 

 
Default or Event of Default if a Responsible Officer of the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders of Securities of such
series; and, provided, further, that in the case of any Default of the character specified in Section 5.1(c) with respect to Securities of such series, no such notice to Holders shall be given until at least 60 days after the
occurrence thereof and that in the case of any Default of the character specified in Section 5.1(d) with respect to Securities of such series, no such notice to Holders shall be given until at least 90 days after the occurrence thereof.

 Section 6.3. Certain Rights of Trustee. 

Subject to the provisions of Section 6.1: 

(a) the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by
the proper party or parties; 
 (b) any request or direction of the Company or a Guarantor mentioned herein shall be
sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 

(c) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established
prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) shall be entitled to receive and may, in the absence of bad faith on its part, rely upon an Officer’s
Certificate; 
 (d) the Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be
full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(e) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities that might be
incurred by it in compliance with such request or direction; 
 (f) the Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee,
in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Company, personally or by agent or attorney; 
 (g) the Trustee may execute any of the trusts or powers
hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder and
shall not be responsible for the supervision of officers and employees of such agents or attorneys; 

  
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 (h) the Trustee may request that the Company and, if applicable, the Guarantors
deliver an Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person
authorized to sign an Officer’s Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded; 

(i) the Trustee shall be entitled to the rights and protections afforded to the Trustee pursuant to this Article Six in
acting as a Paying Agent or Security Registrar hereunder; 
 (j) the Trustee shall not be deemed to have notice of any
Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event that is in fact such a Default is received by the Trustee at the Corporate Trust Office of the Trustee, and
such notice references the Securities and this Indenture; 
 (k) the Trustee shall not be liable for any action it takes or
omits to take that it believes in good faith to be authorized or within its powers conferred upon it by this Indenture or pursuant to applicable law; 

(l) the Trustee shall not be required to provide any bond or surety in respect of the execution of the trusts and powers in
respect of this Indenture or otherwise; 
 (m) under no circumstances shall the Trustee be liable in its individual or any
other capacity for the obligations evidenced by any Securities; and 
 (n) anything in this Indenture notwithstanding, in no
event shall the Trustee be liable for any special, indirect, punitive, incidental or consequential loss or damage of any kind whatsoever (including but not limited to loss of profit), even if the Company has been advised as to the likelihood of such
loss or damage and regardless of the form of action. 
 Section 6.4. Not Responsible for Recitals or Issuance of Securities. 

The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements
of the Company or, if applicable, the Guarantors, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. Neither the Trustee nor any Authenticating Agent makes any representations as to the validity or
sufficiency of this Indenture or of the Securities. The Trustee or any Authenticating Agent shall not be accountable for the use or application by the Company of Securities or the proceeds thereof. 

Section 6.5. May Hold Securities. 

The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company or, if applicable, any
Guarantor, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 310(b) and 311 of the Trust Indenture Act and Section 6.8, Section 6.9 and Section 6.13, may otherwise deal
with the Company or, if applicable, the Guarantors with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent. 

Section 6.6. Money Held in Trust. 

Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be
under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company or, if applicable, one or more of the Guarantors. 

  
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 Section 6.7. Compensation and Reimbursement. 

The Company agrees: 

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

(b) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement
or advance as has been adjudicated to have resulted from its own negligence or willful misconduct; and 
 (c) to indemnify
each of the Trustee and its officers, directors, agents and employees for, and to hold it and them harmless against, any loss, liability or expense arising out of or in connection with the acceptance or administration of the trust or trusts
hereunder, including the costs and expenses of defending itself or themselves against any claim or liability in connection with the exercise or performance of any of its or their powers or duties hereunder, except any such loss, liability or expense
as has been adjudicated to have resulted from any of its or their own negligence or willful misconduct. 
 As security for the performance
of the obligations of the Company under this Section, the Trustee shall have a lien prior to the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of the principal of (and
premium, if any) or interest on particular Securities. 
 Without limiting any rights available to the Trustee under applicable law, when
the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 5.1(e) or Section 5.1(f), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the
services of the Trustee are intended to constitute expenses of administration under any applicable Bankruptcy Law. 
 The provisions of this
Section 6.7 shall survive the resignation or removal of the Trustee and the termination or satisfaction and discharge of this Indenture and the Legal Defeasance of the Securities. 

Section 6.8. Disqualification; Conflicting Interests. 

Reference is made to Section 310(b) of the Trust Indenture Act. There shall be excluded from the operation of Section 310(b)(1) of
the Trust Indenture Act this Indenture with respect to the Securities of more than one series. 
 Section 6.9. Corporate Trustee Required;
Eligibility. 
 There shall at all times be a Trustee hereunder that shall be a corporation organized and doing business under the laws
of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus 

  
 43 

 
required by the Trust Indenture Act, subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or
to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report
of condition so published. The Trustee shall not be an obligor upon the Securities or an Affiliate thereof. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, then it shall resign immediately in
the manner and with the effect hereinafter specified in this Article Six. 
 Section 6.10. Resignation and Removal; Appointment of
Successor. 
 (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this
Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. 

(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to
the Company. If the instrument of acceptance of appointment by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may
petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in
aggregate principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. 
 (d)
If at any time: 
 (i) the Trustee shall fail to comply with Section 310(b) of the Trust Indenture Act after written
request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months; or 

(ii) the Trustee shall cease to be eligible under Section 6.9 and shall fail to resign after written request therefor by
the Company or by any such Holder; or 
 (iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt
or insolvent or a Custodian of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 

then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject
to Section 5.14, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with
respect to all Securities and the appointment of a successor Trustee or Trustees. 
 (e) If the Trustee shall resign, be
removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or
Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such 

  
 44 

 
series and that at any time there shall be only one Trustee with respect to the Securities of any particular series), and the Company and the successor Trustee shall comply with the applicable
requirements of Section 6.11. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a
majority in aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the
applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the
Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11, any Holder who has been a bona fide Holder of a Security of such series for at least six months
may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any
series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.7. Each notice shall include the name of the successor Trustee with
respect to the Securities of such series and the address of its Corporate Trust Office. 
 Section 6.11. Acceptance of Appointment by Successor.

 (a) In case of the appointment hereunder of a successor Trustee with respect to all Securities, the successor Trustee so
appointed shall execute, acknowledge and deliver to the Company, the Guarantors (if applicable) and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become
effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company, any Guarantor (if applicable) or the
successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and
deliver to such successor Trustee all property and money held by such retiring Trustee hereunder, subject nevertheless to its lien under Section 6.7. 

(b) In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all)
series, the Company, the Guarantors (if applicable), the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall
accept such appointment and which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (ii) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed
necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the
retiring Trustee, and (iii) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing
herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each 

  
 45 

 
such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of
such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company, any Guarantor (if applicable) or any
successor Trustee, such retiring Trustee, upon payment of its charges, shall execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee with respect to the Securities of the
series to which the appointment of such successor relates and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of such series, subject
nevertheless to its lien under Section 6.7. 
 (c) Upon request of any such successor Trustee, the Company and, if
applicable, the Guarantors shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as
the case may be. 
 (d) No successor Trustee shall accept its appointment unless at the time of such acceptance such
successor Trustee shall be qualified and eligible under this Article and the Trust Indenture Act. 
 Section 6.12. Merger, Conversion, Consolidation
or Succession to Business. 
 Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or
any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the
Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article Six, without the execution or filing of any paper or any further act on the part of any of the parties hereto. As soon as practicable, the
successor Trustee shall mail (or send by electronic transmission in the case of Global Securities) a notice of its succession to the Company and the Holders of the Securities then Outstanding. In case any Securities shall have been authenticated,
but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor
Trustee had itself authenticated such Securities. 
 Section 6.13. Preferential Collection of Claims Against Company. 

Reference is made to Section 311 of the Trust Indenture Act. For purposes of Section 311(b) of the Trust Indenture Act: 

(a) the term “cash transaction” means any transaction in which full payment for goods or securities sold is made
within seven days after delivery of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon demand; 

(b) the term “self-liquidating paper” means any draft, bill of exchange, acceptance or obligation which is made,
drawn, negotiated or incurred by the Company or, if applicable, any Guarantor for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing
title to, possession of, or a lien upon, the goods, wares or merchandise or the receivables or 

  
 46 

 
proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with the creation of the
creditor relationship with the Company or, if applicable, such Guarantor arising from the making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or obligation. 

Section 6.14. Appointment of Authenticating Agent. 

The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities, which shall be authorized to act on
behalf of the Trustee to authenticate Securities of such series issued upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.6, and Securities so authenticated shall be entitled to the benefits of this
Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate
of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to
act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority. If such Authenticating Agent publishes reports of condition at least annually,
pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set
forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with
the effect specified in this Section. 
 Any corporation into which an Authenticating Agent may be merged or converted or with which it may
be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all of the corporate agency or corporate trust
business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee
or the Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the
Company and, if applicable, the Guarantors. The Trustee for any series of Securities may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company and, if applicable,
the Guarantors. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be qualified and eligible in accordance with the provisions of this Section, the Trustee for such
series may appoint a successor Authenticating Agent that shall be acceptable to the Company and, if applicable, the Guarantors and shall mail (or send by electronic transmission in the case of Global Securities) written notice of such appointment by
first-class mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating Agent will serve, as their names and addresses appear in the Security Register. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed
unless eligible under the provisions of this Section. 

  
 47 

 Except with respect to an Authenticating Agent appointed at the request of the Company or, if
applicable, the Guarantors, the Trustee agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section 6.14, and the Trustee shall be entitled to be reimbursed by the Company or, if
applicable, the Guarantors for such payments, subject to the provisions of Section 6.7. 
 If an appointment with respect to one or
more series is made pursuant to this Section 6.14, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form: 

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

 

			
	[                    ], as Trustee
		
	By:		  

			As Authenticating Agent
		
	By:		  

			Authorized Officer

 ARTICLE SEVEN 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 

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

The Company will furnish or cause to be furnished to the Trustee: 

(a) semi-annually, not more than 5 days after each Regular Record Date for a series of Securities, a list for such series of
Securities, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of such series as of such Regular Record Date; and 

(b) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such
request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 

provided, however, that if and so long as the Trustee shall be the Security Registrar, no such list need be furnished with
respect to such series of Securities. 
 Section 7.2. Preservation of Information; Communications to Holders. 

(a) The Trustee shall preserve, with respect to each series of Securities, in as current a form as is reasonably practicable,
the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 7.1 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may
destroy any list furnished to it as provided in Section 7.1 upon receipt of a new list so furnished. 
 (b) If three or
more Holders (herein referred to as “applicants”) apply in writing to the Trustee, and furnish to the Trustee reasonable proof that each such applicant has owned a Security for a period of at least six months preceding the date of such
application, and such 

  
 48 

 
application states that the applicants desire to communicate with other Holders with respect to their rights under this Indenture or under the Securities and is accompanied by a copy of the form
of proxy or other communication which such applicants propose to transmit, then the Trustee shall, within five Business Days after the receipt of such application, at its election, either: 

(i) afford such applicants access to the information preserved at the time by the Trustee in accordance with
Section 7.2(a); or 
 (ii) inform such applicants as to the approximate number of Holders whose names and addresses
appear in the information preserved at the time by the Trustee in accordance with Section 7.2(a), and as to the approximate cost of mailing to such Holders the form of proxy or other communication, if any, specified in such application. 

If the Trustee shall elect not to afford such applicants access to such information, the Trustee shall, upon the written
request of such applicants, mail to each Holder whose name and address appear in the information preserved at the time by the Trustee in accordance with Section 7.2(a) a copy of the form of proxy or other communication that is specified in such
request, with reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless within five days after such tender the Trustee shall mail to
such applicants and file with the SEC, together with a copy of the material to be mailed, a written statement to the effect that, in the opinion of the Trustee, such mailing would be contrary to the best interest of the Holders or would be in
violation of applicable law. Such written statement shall specify the basis of such opinion. If the SEC, after opportunity for a hearing upon the objections specified in the written statement so filed, shall enter an order refusing to sustain any of
such objections or if, after the entry of an order sustaining one or more of such objections, the SEC shall find, after notice and opportunity for hearing, that all the objections so sustained have been met and shall enter an order so declaring, the
Trustee shall mail copies of such material to all such Holders with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the Trustee shall be relieved of any obligation or duty to such applicants respecting
their application. 
 (c) Every Holder of Securities, by receiving and holding the same, agrees with the Company, the
Guarantors (if applicable) and the Trustee that none of the Company, the Guarantors (if applicable) nor the Trustee nor any agent of any of them shall be held accountable by reason of the disclosure of any such information as to the names and
addresses of the Holders in accordance with Section 7.2(b), regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under
Section 7.2(b). 
 Section 7.3. Reports by Trustee. 

Any Trustee’s report required pursuant to Section 313(a) of the Trust Indenture Act shall be dated as of May 15, and shall be
transmitted within 60 days after May 15 of each year (but in all events at intervals of not more than 12 months), commencing with the year 20    , by mail (or electronic transmission in the case of Global Securities) to all
Holders, as their names and addresses appear in the Security Register. A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, and with the
SEC. The Company will notify the Trustee when any Securities are listed on any stock exchange. 

  
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 Section 7.4. Reports by Company. 

The Company shall: 

(a) file with the Trustee, within 15 days after the Company files the same with the SEC, copies of the annual reports and of
the information, documents and other reports (or copies of such portions of any of the foregoing as the SEC may from time to time by rules and regulations prescribe) which the Company may be required to file with the SEC pursuant to Section 13
or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of said Sections, then it shall file with the Trustee and the SEC, in accordance with rules and regulations
prescribed from time to time by the SEC, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the Exchange Act in respect of a security listed and registered on a national
securities exchange as may be prescribed from time to time in such rules and regulations; 
 (b) file with the Trustee and
the SEC, in accordance with rules and regulations prescribed from time to time by the SEC, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be
required from time to time by such rules and regulations; and 
 (c) transmit by mail (or electronic transmission in the case
of Global Securities) to all Holders, as their names and addresses appear in the Security Register, within 30 days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the
Company pursuant to clauses (a) and (b) of this Section as may be required by rules and regulations prescribed from time to time by the SEC. 

ARTICLE EIGHT 

CONSOLIDATION, AMALGAMATION, MERGER AND SALE 

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

The Company shall not convert into, or consolidate, amalgamate or merge with or into any other Person or sell, convey, assign, transfer, lease
or otherwise dispose of all or substantially all of the properties and assets of the Company on a consolidated basis to any other Person unless: 

(a) either: (i) the Company is the surviving Person; or (ii) the Person formed by or surviving any such
consolidation, amalgamation or merger or resulting from such conversion (if other than the Company) or to which such sale, conveyance, assignment, transfer, lease or other disposition has been made is a corporation, limited liability company or
limited partnership organized or existing under the laws of the United States, any State thereof or the District of Columbia; 

(b) the Person formed by or surviving any such conversion, consolidation, amalgamation or merger (if other than the Company) or
the Person to which such sale, conveyance, assignment, transfer, lease or other disposition has been made assumes by an indenture supplemental hereto, executed and delivered to the Trustee, the due and punctual payment of the principal of (and
premium, if any) and interest on all the Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or observed; 

  
 50 

 (c) immediately after giving effect to such transaction, no Event of Default, and
no event which, after notice or lapse of time or both, would become an Event of Default, shall have occurred and be continuing; and 

(d) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such
conversion, consolidation, amalgamation, merger, sale, conveyance, assignment, transfer, lease or other disposition and such supplemental indenture comply with this Article Eight and that all conditions precedent herein provided for relating to
such transaction have been complied with. 
 Section 8.2. Successor Substituted. 

Upon any consolidation, amalgamation or merger of the Company with or into any other Person or any sale, conveyance, assignment, transfer,
lease or other disposition of all or substantially all of the properties and assets of the Company and, if applicable, the Guarantors on a consolidated basis in accordance with Section 8.1, the successor or resulting Person formed by or
resulting upon such consolidation, amalgamation or merger (if other than the Company) or to which such sale, conveyance, assignment, transfer, lease or other disposition is made shall succeed to, and be substituted for, and may exercise every right
and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the predecessor Company and, if applicable, each of the Guarantors
shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE NINE 

AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.1. Without Consent of Holders. 

The Company, the Guarantors (if any) and the Trustee may amend or supplement this Indenture, the Securities Guarantee or the Securities without
the consent of any holder of a Security: 
 (a) to cure any ambiguity or defect or to correct or supplement any provision
herein that may be inconsistent with any other provision herein; or 
 (b) to evidence the succession of another Person to
the Company and the assumption by any such successor of the covenants of the Company herein and, to the extent applicable, of the Securities; or 

(c) to provide for uncertificated Securities in addition to or in place of certificated Securities; provided that the
uncertificated Securities are issued in registered form for purposes of Section 163(f) of the Code, or in the manner such that the uncertificated Securities are described in Section 163(f)(2)(B) of the Code; or 

(d) to add a Securities Guarantee and cause any Person to become a Guarantor, and/or to evidence the succession of another
Person to a Guarantor and the assumption by any such successor of the Securities Guarantee of such Guarantor herein and, to the extent applicable, endorsed upon any Securities of any series; or 

(e) to secure the Securities of any series; or 

  
 51 

 (f) to add to the covenants of the Company such further covenants, restrictions,
conditions or provisions as the Company shall consider to be appropriate for the benefit of the Holders of all or any series of Securities (and if such covenants, restrictions, conditions or provisions are to be for the benefit of less than all
series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the Company, and to make the occurrence, or the occurrence and
continuance, of a Default in any such additional covenants, restrictions, conditions or provisions an Event of Default permitting the enforcement of all or any of the several remedies provided in this Indenture as herein set forth; provided,
that in respect of any such additional covenant, restriction, condition or provision such amendment or supplemental indenture may provide for a particular period of grace after Default (which period may be shorter or longer than that allowed in the
case of other Defaults), may provide for an immediate enforcement upon such an Event of Default, may limit the remedies available to the Trustee upon such an Event of Default or may limit the right of the Holders of a majority in aggregate principal
amount of the Securities of such series to waive such an Event of Default; or 
 (g) to make any change to any provision of
this Indenture that does not adversely affect the rights or interests of any Holder of Securities; or 
 (h) to provide for
the issuance of additional Securities in accordance with the provisions set forth in this Indenture; or 
 (i) to add any
additional Defaults or Events of Default in respect of all or any series of Securities; or 
 (j) to add to, change or
eliminate any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons; or 

(k) to change or eliminate any of the provisions of this Indenture; provided that any such change or elimination shall
become effective only when there is no Security Outstanding of any series created prior to the execution of such amendment or supplemental indenture that is entitled to the benefit of such provision; or 

(l) to establish the form or terms of Securities of any series as permitted by Section 2.1 and Section 3.1, including
to reopen any series of any Securities as permitted under Section 3.1; or 
 (m) to evidence and provide for the
acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of
the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 6.11(b); or 
 (n) to conform the
text of this Indenture (and/or any supplemental indenture) or any Securities issued hereunder to any provision of a description of such text or Securities appearing in a prospectus, prospectus supplement, offering memorandum or offering circular
pursuant to which such Securities were offered to the extent that such provision was intended by the Company to be a verbatim recitation of a provision of this Indenture (and/or any supplemental indenture) or any Securities or Securities Guarantee
issued hereunder, with such intention being evidenced by an Officer’s Certificate; or 

  
 52 

 (o) to modify, eliminate or add to the provisions of this Indenture to such
extent as shall be necessary to effect the qualification of this Indenture under the Trust Indenture Act or under any similar federal statute subsequently enacted, and to add to this Indenture such other provisions as may be expressly required under
the Trust Indenture Act. 
 Section 9.2. With Consent of Holders. 

The Company, the Guarantors (if any) and the Trustee may amend or supplement this Indenture, the Securities Guarantee and the Securities with
the consent of the Holders of a majority in aggregate principal amount of the Outstanding Securities of each series of Securities affected by such amendment or supplemental indenture, with each such series voting as a separate class (including,
without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Securities) and, subject to Section 5.8 and Section 5.13 hereof, any existing Default or Event of Default or compliance with any
provision of this Indenture, the Securities Guarantee or the Securities may be waived with respect to each series of Securities with the consent of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series
voting as a separate class (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, Securities). 

It is not necessary for the consent of the Holders of Securities under this Section 9.2 to approve the particular form of any proposed
amendment, supplement or waiver, but it is sufficient if such consent approves the substance of the proposed amendment, supplement or waiver. 

After an amendment, supplement or waiver under this Section 9.2 becomes effective, the Company will mail to the Holders of Securities
affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, will not, however, in any way impair or affect the validity of any such amendment, supplemental
indenture or waiver. Notwithstanding anything contained herein to the contrary, without the consent of each Holder affected, an amendment, supplement or waiver under this Section 9.2 may not (with respect to any Securities held by a
non-consenting Holder): 
 (a) change the Stated Maturity of the principal of, or any installment of principal of or interest
on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable
upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2, or change the coin or currency in which any Security or any premium or the interest thereon is payable, or impair the right to institute suit for the
enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date therefor); or 

(b) reduce the percentage in aggregate principal amount of the Outstanding Securities of any series, the consent of whose
Holders is required for any such amendment or supplemental indenture, or the consent of whose Holders is required for any waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences provided
for in this Indenture; or 
 (c) modify any of the provisions of Section 5.8 or Section 5.13; or 

(d) waive a redemption payment with respect to any Security; provided, however, that any purchase or
repurchase of Securities shall not be deemed a redemption of the Securities; or 

  
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 (e) release any Guarantor from any of its obligations under its Securities
Guarantee or this Indenture, except in accordance with the terms of this Indenture (as amended or supplemented); or 
 (f)
make any change in the foregoing amendment and waiver provisions, except to increase any percentage provided for therein or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of
each Outstanding Security affected thereby. 
 An amendment or supplemental indenture that changes or eliminates any covenant or other
provision of this Indenture that has expressly been included solely for the benefit of one or more particular series of Securities, or that modifies the rights of the Holders of Securities of such series with respect to such covenant or other
provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 
 Section 9.3. Execution
of Amendments and Supplemental Indentures. 
 In executing, or accepting the additional trusts created by, any amendment or supplemental
indenture permitted by this Article Nine or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 6.1) shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such amendment or supplemental indenture is authorized or permitted by this Indenture. 
 Upon the
request of the Company accompanied by a Board Resolution authorizing the execution of any such amendment or supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of
Securities as aforesaid, and upon receipt by the Trustee of the documents described in Section 6.3 hereof, the Trustee will join with the Company and the Guarantors in the execution of such amendment or supplemental indenture unless such
amendment or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such amendment or
supplemental Indenture. 
 Section 9.4. Effect of Amendments and Supplemental Indentures. 

Upon the execution of any amendment or supplemental indenture under this Article Nine, this Indenture shall be modified in accordance
therewith, and such amendment or supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

Section 9.5. Conformity with Trust Indenture Act. 

Every amendment or supplemental indenture executed pursuant to this Article Nine shall conform to the requirements of the Trust Indenture
Act as then in effect. 
 Section 9.6. Reference in Securities to Amendments or Supplemental Indentures. 

Securities of any series authenticated and delivered after the execution of any amendment or supplemental indenture pursuant to this
Article Nine may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such amendment or supplemental indenture. If the Company shall so determine, new Securities of any series
so modified as to conform, in the opinion of the Trustee and the Company, to any such amendment or supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding
Securities of such series. 

  
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 Section 9.7. Effect of Consents. 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Security of a series is a continuing consent by
the Holder of a Security of such series and every subsequent Holder of a Security of such series or portion of a Security of such series that evidences the same debt as the consenting Holder’s Security of such series, even if the notation of
the consent is not made on any Security. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder of the Securities of such series. 

ARTICLE TEN 

COVENANTS 
 Section 10.1.
Payment of Principal, Premium and Interest. 
 The Company covenants and agrees for the benefit of each series of Securities that it
will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture. 

Section 10.2. Maintenance of Office or Agency. 

The Company will maintain in the United States an office or agency (which may be an office of the Trustee or Security Registrar or agent of the
Trustee or Security Registrar) where Securities of each series may be presented or surrendered for payment and surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of
that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required
office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. 

The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such
other office or agency. 
 Except as otherwise specified with respect to a series of Securities as contemplated by Section 3.1, the
Company hereby initially designates the Corporate Trust Office of the Trustee as the Company’s office or agency for each such purpose for each series of Securities. The Trustee shall initially serve as Paying Agent. In the event the Company
makes any payment in any currency in which the Trustee is unable to pay, and notwithstanding anything herein to the contrary, the Company will appoint a Paying Agent other than the Trustee to make such payment and the Trustee will have no
obligations with respect to such payment and will incur no liability with respect to the failure by the Company or such other Paying Agent to make, or cause to be made, such payment. 

Section 10.3. Money for Securities Payments to Be Held in Trust. 

If the Company shall at any time act as its own Paying Agent, with respect to any series of Securities, it will, on or before each due date of
the principal of or any premium or interest on any of the 

  
 55 

 
Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so becoming due until
such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, prior to each due date of the principal of or
any premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay the principal and any premium or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such
principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. For purposes of this Section 10.3, should a due date for principal of or any premium
or interest on, or sinking fund payment with respect to, any series of Securities not be on a Business Day, such payment shall be due on the next Business Day without any interest for the period from the due date until such Business Day. 

The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 

(a) hold all sums held by it for the payment of the principal of or any premium or interest on Securities of that series in
trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 

(b) give the Trustee notice of any Default by the Company (or any other obligor upon the Securities of that series) in the
making of any payment of principal or any premium or interest on the Securities of that series; and 
 (c) at any time during
the continuance of any such Default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 

The Company and, if applicable, the Guarantors may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture
or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were
held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

Subject to any applicable escheat or abandoned property laws, any money deposited with the Trustee or any Paying Agent, or then held by the
Company, in trust for the payment of the principal of or any premium or interest on any Security of any series and remaining unclaimed for one year after such principal, premium or interest has become due and payable shall be paid to the Company on
Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee
or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such
repayment, may at the expense of the Company cause to be published once, in The New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which
shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 

  
 56 

 Section 10.4. Existence. 

Subject to Article Eight, the Company and, if any Securities of a series to which Article Fourteen has been made applicable are
Outstanding, each Guarantor will do or cause to be done all things necessary to preserve and keep in full force and effect its existence, rights (charter and statutory) and franchises; provided, however, that the Company and, if
applicable, each Guarantor shall not be required to preserve any such right or franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company or such Guarantor,
as the case may be. 
 Section 10.5. Statement by Officers as to Default. 

Annually, within 120 days after the close of each fiscal year beginning with the first fiscal year during which one or more series of
Securities are Outstanding, the Company and, if any Securities of a series to which Article Fourteen has been made applicable are Outstanding, each Guarantor will deliver to the Trustee a brief certificate (which need not include the statements
set forth in Section 1.3) from the principal executive officer, principal financial officer or principal accounting officer of the Company and, if applicable, such Guarantor, stating that a review of the activities of the Company during such
year and of performance under this Indenture has been made, and as to his or her knowledge of the Company’s or such Guarantor’s, as the case may be, compliance (without regard to any period of grace or requirement of notice provided
herein) with all conditions and covenants under this Indenture and, if the Company or such Guarantor, as the case may be, shall be in Default, specifying all such Defaults and the nature and status thereof of which such officer has knowledge. 

ARTICLE ELEVEN 

REDEMPTION OF SECURITIES 

Section 11.1. Applicability of Article. 

Securities of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 3.1 for Securities of any series) in accordance with this Article Eleven. 
 Section 11.2.
Election to Redeem; Notice to Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by a Board
Resolution. In case of any redemption at the election of the Company of less than all the Securities of any series, the Company shall, at least 15 days prior to the last date for the giving of notice of such redemption (unless a shorter notice shall
be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of
Securities (a) prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture or (b) pursuant to an election of the Company that is subject to a condition specified in
the terms of the Securities of the series to be redeemed, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with such restriction or condition. 

Section 11.3. Selection by Trustee of Securities to Be Redeemed. 

If less than all the Securities of any series are to be redeemed (unless all of the Securities of such series and of a specified tenor are to
be redeemed), the particular Securities to be redeemed shall be selected not more than 45 days prior to the Redemption Date by the Trustee, from the Outstanding 

  
 57 

 
Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate (and in accordance with the applicable procedures of the Depositary
in the case of Global Securities) and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof) of the principal amount of Securities
of such series of a denomination larger than the minimum authorized denomination for Securities of that series. 
 The Trustee shall
promptly notify the Company in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed. If the Securities of any series to be redeemed consist
of Securities having different dates on which the principal is payable or different rates of interest, or different methods by which interest may be determined or have any other different tenor or terms, then the Company may, by written notice to
the Trustee, direct that the Securities of such series to be redeemed shall be selected from among the groups of such Securities having specified tenor or terms and the Trustee shall thereafter select the particular Securities to be redeemed in the
manner set forth in the preceding paragraph from among the group of such Securities so specified. 
 For all purposes of this Indenture,
unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has
been or is to be redeemed. 
 Section 11.4. Notice of Redemption. 

Notice of redemption shall be given by first-class mail, postage prepaid, or sent electronically in the case of Global Securities, in each
case, not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, at such Holder’s address appearing in the Security Register. 

All notices of redemption shall state: 

(a) the Redemption Date; 

(b) the Redemption Price, or if not then ascertainable, the manner of calculation thereof; 

(c) if less than all the Outstanding Securities of any series are to be redeemed, the identification (and, in the case of
partial redemption, the principal amounts) of the particular Securities to be redeemed; 
 (d) that on the Redemption Date
the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date; 

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

(f) that the redemption is for a sinking fund, if such is the case; and 

(g) the conditions, if any, to which such redemption shall be subject. 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request, by the
Trustee in the name and at the expense of the Company. 

  
 58 

 Section 11.5. Deposit of Redemption Price. 

Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 10.3) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest on, all the Securities which
are to be redeemed on that date. 
 Section 11.6. Securities Payable on Redemption Date. 

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at
the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest, or fail to pay the Redemption Price and accrued interest as a result of any failure
of any condition to which such redemption is subject to be satisfied or waived) such Securities shall cease to bear interest. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the
Company at the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that unless otherwise specified with respect to Securities of any series as contemplated in Section 3.1, installments of
interest the Stated Maturity of which is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant record dates according
to their terms and the provisions of Section 3.7. 
 If any Security called for redemption shall not be so paid upon surrender thereof
for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 

Section 11.7. Securities Redeemed in Part. 

Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so
requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing), and the Company shall execute, and
the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount
equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
 ARTICLE TWELVE 

SINKING FUNDS 
 Section 12.1.
Applicability of Article. 
 The provisions of this Article Twelve shall be applicable to any sinking fund for the retirement of
Securities of a series except as otherwise specified as contemplated by Section 3.1 for Securities of such series. 
 The minimum
amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities
of any series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any series, the cash amount of any 

  
 59 

 
sinking fund payment may be subject to reduction as provided in Section 12.2. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the
terms of Securities of such series. 
 Section 12.2. Satisfaction of Sinking Fund Payments with Securities. 

The Company (a) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (b) may apply as
a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities,
in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series; provided that
such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the sinking fund and the
amount of such sinking fund payment shall be reduced accordingly. 
 Section 12.3. Redemption of Securities for Sinking Fund. 

Not less than 45 days prior to each sinking fund payment date for any series of Securities (unless a shorter period shall be satisfactory to
the Trustee), the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be
satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities of that series pursuant to Section 12.2 and stating the basis for such credit and that such Securities have not been
previously so credited, and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment
date in the manner specified in Section 11.3 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 11.4. Such notice having been duly given, the redemption
of such Securities shall be made upon the terms and in the manner stated in Section 11.6 and Section 11.7. 

ARTICLE THIRTEEN 

DEFEASANCE 
 Section 13.1.
Option to Effect Legal Defeasance or Covenant Defeasance. 
 The Company may, at the option of its Board of Directors evidenced by a
Board Resolution, and at any time, elect to have either Section 13.2 or Section 13.3 hereof be applied to all Outstanding Securities of any series upon compliance with the conditions set forth below in this Article Thirteen. 

Section 13.2. Legal Defeasance and Discharge. 

Upon the Company’s exercise under Section 13.1 hereof of the option applicable to this Section 13.2, the Company and each of the
Guarantors will, subject to the satisfaction of the conditions set forth in Section 13.4 hereof, be deemed to have been discharged from their obligations with respect to all Outstanding Securities of such series (including the Securities
Guarantee) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company and the Guarantors will be deemed to have paid and discharged the entire Debt
represented by the Outstanding Securities of such series (including the Securities Guarantee), which will thereafter be deemed to be “outstanding” only for the purposes of Section 13.5 hereof and the other sections of this Indenture
referred to in clauses (a) and (b) below, and to have satisfied all their other 

  
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obligations under such Securities, the Securities Guarantee and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the
same), except for the following provisions, which will survive until otherwise terminated or discharged hereunder: 
 (a) the
rights of Holders of Outstanding Securities of such series to receive payments in respect of the principal of, or interest or premium, if any, on, such Securities when such payments are due from the trust referred to in Section 13.4 hereof;

 (b) the Company’s obligations with respect to such Securities under Section 3.4, Section 3.5,
Section 3.6, Section 10.2 and Section 10.3 hereof; 
 (c) the rights, powers, trusts, duties and immunities of
the Trustee hereunder and the Company’s and the Guarantors’ obligations in connection therewith; and 
 (d) this
Article Thirteen. 
 Subject to compliance with this Article Thirteen, the Company may exercise its option under this
Section 13.2 notwithstanding the prior exercise of its option under Section 13.3 hereof with respect to the same series of Securities. 

Section 13.3. Covenant Defeasance. 

Upon the Company’s exercise under Section 13.1 hereof of the option applicable to this Section 13.3, the Company and each of the
Guarantors will, subject to the satisfaction of the conditions set forth in Section 13.4 hereof, be released from each of their obligations with respect to the Securities of such series under the covenants contained in Section 7.4,
Section 8.1 and Section 10.4 hereof as well as any Additional Defeasible Provisions (such release and termination hereinafter referred to as “Covenant Defeasance”), and the Securities of such series will thereafter be deemed not
“outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed “outstanding” for all other
purposes hereunder (it being understood that such Securities will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the Outstanding Securities of such series and the Securities
Guarantee, the Company and the Guarantors may fail to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein
to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such failure to comply will not constitute a Default or an Event of Default under Section 5.1 hereof, but, except
as specified above, the remainder of this Indenture and such Securities and Securities Guarantees will be unaffected thereby. In addition, upon the Company’s exercise under Section 13.1 hereof of the option applicable to this
Section 13.3 hereof, subject to the satisfaction of the conditions set forth in Section 13.4 hereof, any Event of Default that constitutes an Additional Defeasible Provision will no longer constitute an Event of Default. 

Section 13.4. Conditions to Legal or Covenant Defeasance. 

In order to exercise either Legal Defeasance or Covenant Defeasance with respect to any series of Securities under either Section 13.2 or
Section 13.3 hereof: 
 (a) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the
Holders of the Securities of such series, cash in U.S. dollars, non-callable U.S. Government 

  
 61 

 
Obligations, or a combination of cash in U.S. dollars and non-callable U.S. Government Obligations, in such amounts as will be sufficient, in the opinion of a nationally recognized investment
bank, appraisal firm, or firm of independent public accountants, to pay the principal of, and interest and premium, if any, on, the Outstanding Securities of such series on the stated date for payment thereof or on the applicable Redemption Date, as
the case may be, and the Company must specify whether the Securities are being defeased to such stated date for payment or to a particular Redemption Date; 

(b) in the case of an election under Section 13.2 hereof, the Company must deliver to the Trustee an Opinion of Counsel
stating that: 
 (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling; or

 (ii) since the Issue Date, there has been a change in the applicable U.S. federal income tax law, 

in either case to the effect that, and based thereon such Opinion of Counsel will state that, the Holders of the Outstanding Securities of such
series will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Legal Defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been
the case if such Legal Defeasance had not occurred; 
 (c) in the case of an election under Section 13.3 hereof, the
Company must deliver to the Trustee an Opinion of Counsel stating that the Holders of the Outstanding Securities of such series will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Covenant Defeasance and
will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(d) no Default or Event of Default with respect to such series of Securities shall have occurred and be continuing on the date
of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit); 

(e) the deposit must not result in a breach or violation of, or constitute a default under, any other instrument to which the
Company or any Guarantor is a party or by which the Company or any Guarantor is bound; 
 (f) such Legal Defeasance or
Covenant Defeasance must not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Company or any Guarantor is a party or by which the Company or any
Guarantor is bound; 
 (g) the Company must deliver to the Trustee an Officer’s Certificate stating that the deposit was
not made by the Company with the intent of preferring the Holders of such Securities over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; 

(h) the Company must deliver to the Trustee an Officer’s Certificate stating that all conditions precedent set forth in
clauses (a) through (f) of this Section 13.4 have been complied with; and 

  
 62 

 (i) the Company must deliver to the Trustee an Opinion of Counsel (which Opinion
of Counsel may be subject to customary assumptions, qualifications and exclusions) stating that all conditions precedent set forth in clauses (b), (c) and (f) of this Section 13.4 have been complied with. 

Section 13.5. Deposited Money and U.S. Government Obligations to be Held in Trust, Other Miscellaneous Provisions. 

Subject to the last paragraph of Section 10.3 hereof, all money and non-callable U.S. Government Obligations (including the proceeds
thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 13.5, the “Trustee”) pursuant to Section 13.4 hereof in respect of the Outstanding Securities of any series will be held
in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to
the Holders of such Securities of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 

The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable
U.S. Government Obligations deposited pursuant to Section 13.4 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge that by law is for the account of the Holders of the Outstanding
Securities. 
 Notwithstanding anything in this Article Thirteen to the contrary, the Trustee will deliver or pay to the Company from
time to time upon the request of the Company any money or non-callable U.S. Government Obligations held by it as provided in Section 13.4 hereof which, in the opinion of a nationally recognized investment bank, appraisal firm or firm of
independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 13.4(a) hereof), are in excess of the amount thereof that would then be required to be
deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 
 Section 13.6. Reinstatement. 

If the Trustee or Paying Agent is unable to apply any United States dollars or non-callable U.S. Government Obligations in accordance with
Section 4.1, Section 13.2 or Section 13.3 hereof with respect to the Securities of any series, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Company’s and the Guarantors’ obligations under this Indenture and such Securities and the Securities Guarantee will be revived and reinstated as though no deposit had occurred pursuant to
Section 4.1, Section 13.2 or Section 13.3 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money or non-callable U.S. Government Obligations in accordance with Section 4.1, Section 13.2 or
Section 13.3 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of or premium, if any, or interest on any such Security following the reinstatement of its obligations, the
Company will be subrogated to the rights of the Holders of such Securities to receive such payment from the money or non-callable U.S. Government Obligations held by the Trustee or Paying Agent. 

  
 63 

 ARTICLE FOURTEEN 

GUARANTEE OF SECURITIES 

Section 14.1. Securities Guarantee. 

(a) Subject to the other provisions of this Article Fourteen, each of the Guarantors hereby fully and unconditionally and
jointly and severally guarantees to each Holder of a Security of each series to which this Article Fourteen has been made applicable as provided in Section 3.1(t) (the Securities of such series being referred to herein as the
“Guaranteed Securities”) (which Security has been authenticated and delivered by the Trustee), and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Guaranteed Securities,
or the obligations of the Company hereunder or thereunder, that: 
 (i) the principal of and premium, if any, and interest on
the Guaranteed Securities will be promptly paid in full when due, whether at Stated Maturity, or by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Guaranteed Securities, if any, if lawful, and all
other obligations of the Company to the Holders of Guaranteed Securities, 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 Guaranteed Securities 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 will be jointly and
severally obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee of collection. 

(b) To the extent permissible under applicable law, the obligations of the Guarantors under this Securities Guarantee are
unconditional, irrespective of the validity, regularity or enforceability of the Guaranteed Securities or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Guaranteed Securities with respect to
any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. To the extent
permitted by applicable law, each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company,
protest, notice and all demands whatsoever and covenants that this Securities Guarantee will not be discharged except by complete performance of the obligations contained in the Guaranteed Securities and this Indenture. 

(c) If any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantors or any
custodian, trustee, liquidator or other similar official acting in relation to either the Company or the Guarantors, any amount paid by either to the Trustee or such Holder, then this Securities Guarantee, to the extent theretofore discharged, will
be reinstated in full force and effect. 

  
 64 

 (d) Each Guarantor agrees that it will not be entitled to any right of
subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, to the extent permitted by applicable law, as between the
Guarantors, on the one hand, and the Holders of Guaranteed Securities and the Trustee, on the other hand, (i) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article Five hereof for the purposes of this
Securities 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 Five hereof, such obligations (regardless of whether due and payable) will forthwith become due and payable by the Guarantors for the purpose of this Securities Guarantee. The Guarantors will have the right to seek
contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders under the Securities Guarantee. 

Section 14.2. Limitation on Guarantor Liability. 

Each Guarantor and, by its acceptance of Guaranteed Securities, each Holder thereof, hereby confirms that it is the intention of all such
parties that the Securities Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar Federal or State law
to the extent applicable to any Securities Guarantee. To effectuate the foregoing intention, to the extent permitted under applicable law, the Holders and each Guarantor hereby irrevocably agree that the obligations of such Guarantor will be limited
to the maximum amount that will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such 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 this Article Fourteen, result in the obligations of such Guarantor under its Securities Guarantee not
constituting a fraudulent transfer or conveyance. 
 Section 14.3. Execution and Delivery of Securities Guarantee Notation. 

To evidence its Securities Guarantee set forth in Section 14.1 hereof, each Guarantor hereby agrees that a notation of such Securities
Guarantee substantially in the form set forth in Section 2.3 or established in or pursuant to a Board Resolution or in an indenture supplemental hereto, in accordance with the provisions of Section 2.1, will be endorsed by an officer of
such Guarantor on each Guaranteed Security authenticated and delivered by the Trustee and that this Indenture or a supplement to this Indenture will be executed on behalf of such Guarantor by one of its officers. 

Each Guarantor hereby agrees that its Securities Guarantee set forth in Section 14.1 hereof will remain in full force and effect
notwithstanding any failure to endorse on each Guaranteed Security a notation of such Securities Guarantee. 
 If an officer whose signature
is on this Indenture or on the Securities Guarantee no longer holds that office at the time the Trustee authenticates the Guaranteed Security on which a notation of Securities Guarantee is endorsed, the Securities Guarantee will be valid
nevertheless. 
 The delivery of any Guaranteed Security by the Trustee, after the authentication thereof hereunder, will constitute due
delivery of the Securities Guarantee of such Guaranteed Security set forth in this Indenture on behalf of the Guarantors. 
 * * * 

  
 65 

 This instrument may be executed in any number of counterparts, each of which so executed shall be
deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 IN WITNESS WHEREOF, the
parties hereto have caused this Indenture to be duly executed, as of the day and year first above written. 
  

			
	
	BASIC ENERGY SERVICES, INC.
		
	By:		  

	Name:		  

	Title:		  

	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:		  

	Name:		  

	Title:

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