Document:

Exhibit

Exhibit 10.1

EXECUTIVE SEVERANCE PAY PLAN
OF ADVANSIX INC.

Effective as of
November 10, 2017

1.    Purpose.

The purpose of this Executive Severance Pay Plan of AdvanSix Inc. is to provide severance benefits to executive officers of AdvanSix who are designated as Participants in accordance with Section 4 of the Plan and whose employment relationship is terminated as a result of a Covered Termination (as defined below), all as set forth and subject to the terms of this Plan.  

This Plan is intended to be a “welfare benefit plan” within the meaning of Section 3(1) of ERISA and is being maintained as a “top hat” plan for a select group of management or highly compensated employees.

The terms of this Plan are intended to, and shall be interpreted so as to, be exempt from or to comply in all respects with the provisions of Code Section 409A, although no warranty is made as to such exemption or compliance, and, if necessary, any provision of the Plan shall be held null and void to the extent such provision (or any part thereof) fails to comply with Code Section 409A.

2.    Definitions.

As used throughout the Plan, unless clearly or necessarily indicated otherwise by context:

(a)“AdvanSix” or the “Company” means AdvanSix Inc., a Delaware corporation, and its subsidiaries, divisions and Affiliates.

(b)“Agency” has the meaning set forth in Section 6(c)(iv).

(c)“Affiliate” means (i) any subsidiary of the Company of which at least 50 percent of the aggregate outstanding voting common stock or capital stock is owned directly or indirectly by the Company, (ii) any other parent of a subsidiary described in clause (i), or (iii) any other entity in which the Company has a substantial ownership interest and which has been designated as an Affiliate by the Committee in its sole discretion.

(d)“Base Salary” means the annual rate of base salary in effect as of the date of termination of employment, determined without regard to any reduction thereof that constitutes Good Reason.

(e)“Benefit Coverage Period” has the meaning set forth in Section 6(b)(ii) of the Plan.

(f)“Board” means the Board of Directors of AdvanSix Inc.

(g)“Cause” means any of the following, as determined in the sole judgment of the Plan Administrator: (i) clear evidence of a significant violation of the Company’s Code of Business Conduct; (ii) a fraud committed against the Company; (iii) the misappropriation, embezzlement or reckless or willful destruction of Company property; (iv) the willful failure to perform, or gross negligence in the performance of, duties; (v) the conviction (treating a nolo contendere plea as a conviction) of a felony (whether or not any right to appeal has been or may be exercised); (vi) the knowing falsification of any records or documents of the Company; (vii) a significant breach of any statutory or common law duty of loyalty to the Company; (viii) intentional and improper conduct significantly prejudicial to the business of the Company; (ix) the failure to cooperate fully in a Company investigation or the failure to be fully truthful when providing evidence or testimony in such investigation; or (x) the violation of Company rules and policies that, based on a single occurrence, might not meet the significance thresholds of (i), (vii) or (viii) above, but that shall, for purposes of such significance thresholds, be deemed to constitute a violation thereof in the event any such violation occurs more than once. Cause shall be determined by the Plan Administrator, in its sole and absolute discretion; provided that if an event would constitute cause under an individual service agreement by and between the 

1

Company and the applicable Participant, then such event shall also constitute Cause for purposes of the Plan for such Participant.

(h)“CEO” means the Chief Executive Officer of AdvanSix Inc.

(i)“Change in Control” means the occurrence of any of the following events following the Effective Date:

(i)during any period of 24 consecutive calendar months, individuals who were directors of the Company on the first day of such period (the “Incumbent Directors”) cease for any reason to constitute a majority of the Board; provided, however, that any individual becoming a director subsequent to the first day of such period whose election, or nomination for election, by the Company’s stockholders was approved by a vote of at least a majority of the Incumbent Directors shall be considered as though such individual were an Incumbent Director, but excluding, for purposes of this proviso, any such individual whose initial assumption of office occurs as a result of an actual or threatened proxy contest with respect to election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a “person” (as used in Section 13(d) of the Exchange Act) (a “Person”), in each case other than the Board;

(ii)the consummation of (A) a merger, consolidation, statutory share exchange or similar form of corporate transaction involving (x) the Company or (y) any of its Subsidiaries, but in the case of this clause (y) only if Company Voting Securities (as defined below) are issued or issuable (each of the events referred to in this clause (A) being hereinafter referred to as a “Reorganization”) or (B) the sale or other disposition of all or substantially all the assets of the Company to an entity that is not an Affiliate (a “Sale”), unless, immediately following such Reorganization or Sale, (1) all or substantially all the Persons who were the “beneficial owners” (as used in Rule 13d-3 under the Exchange Act (or a successor rule thereto)) of the securities eligible to vote for the election of the Board (“Company Voting Securities”) outstanding immediately prior to the consummation of such Reorganization or Sale continue to beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting securities of the corporation or other entity resulting from such Reorganization or Sale (including a corporation or other entity that, as a result of such transaction, owns the Company or all or substantially all the Company’s assets either directly or through one or more subsidiaries) (the “Continuing Company”) in substantially the same proportions as their ownership, immediately prior to the consummation of such Reorganization or Sale, of the outstanding Company Voting Securities (excluding, for such purposes, any outstanding voting securities of the Continuing Company that such beneficial owners hold immediately following the consummation of the Reorganization or Sale as a result of their ownership prior to such consummation of voting securities of any corporation or other entity involved in or forming part of such Reorganization or Sale other than the Company), (2) no Person (excluding any employee benefit plan (or related trust) sponsored or maintained by the Continuing Company or any entity controlled by the Continuing Company) beneficially owns, directly or indirectly, 30% or more of the combined voting power of the then outstanding voting securities of the Continuing Company and (3) at least a majority of the members of the board of directors of the Continuing Company were Incumbent Directors at the time of the execution of the definitive agreement providing for such Reorganization or Sale or, in the absence of such an agreement, at the time at which approval of the Board was obtained for such Reorganization or Sale;

(iii)the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company unless such liquidation or dissolution is part of a transaction or series of transactions described in paragraph (ii) above that does not otherwise constitute a Change in Control; or

(iv)any Person, corporation or other entity or “group” (as used in Section 13(d) of the Exchange Act) (other than (A) the Company, (B) any trustee or other fiduciary holding securities under an 

2

employee benefit plan of the Company or an Affiliate or (C) any entity owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of the voting power of the Company Voting Securities) becomes the beneficial owner, directly or indirectly, of securities of the Company representing 30% or more of the combined voting power of the Company Voting Securities; provided, however, that for purposes of this subparagraph (iv), the following acquisitions shall not constitute a Change in Control: (w) any acquisition directly from the Company, (x) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or an Affiliate, (y) any acquisition by an underwriter temporarily holding such Company Voting Securities pursuant to an offering of such securities or any acquisition by a pledgee of Company Voting Securities holding such securities as collateral or temporarily holding such securities upon foreclosure of the underlying obligation or (z) any acquisition pursuant to a Reorganization or Sale that does not constitute a Change in Control for purposes of subparagraph (ii) above; 

provided that, to the extent any Severance Benefit under Section 6(b) of the Plan constitutes non-qualified deferred compensation subject to Code Section 409A, an event set forth above shall not constitute a “Change in Control” unless it also constitutes a “change in ownership,” a “change in the effective control” or a “change in the ownership of substantial assets” of the Company within the meaning of Treasury Regulation Section 1.409A-3(i)(5) and such limitation is necessary to avoid an impermissible distribution or other event resulting in adverse tax consequences under Code Section 409A.  
    
(j)“Change in Control Period” means the period ending 24 months following the occurrence of a Change in Control.  

(k)“COBRA” means Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

(l)“COBRA Premiums” has the meaning set forth in Section 6(b)(ii) of the Plan.

(m)“Code” means the Internal Revenue Code of 1986, as amended from time to time.

(n)“Code Section 409A” means Section 409A of the Code and regulations, rulings and guidance promulgated thereunder.

(o)“Committee” means the Compensation Committee of the Board.

(p)“Company Voting Securities” has the meaning set forth in Section 2(i) of the Plan.

(q)“Covered Termination” means a termination event giving rise to Severance Benefits under this Plan as detailed in Section 5 of the Plan.  

(r)“Disability” with respect to a Participant, has the meaning assigned to such term under the long-term disability plan maintained by the Company in which such Participant is covered at the time the determination is made, and if there is no such plan, shall mean the permanent inability as a result of accident or sickness to perform any and every duty pertaining to such Participant’s occupation or employment for which the Participant is suited by reason of the Participant’s previous training, education and experience.  

(s)“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, together with applicable regulations thereunder.

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

3

(u)“Good Reason” means the occurrence of any one or more of the following without the Participant’s consent: 

(i)A material diminishment in the Participant’s authority, position, duties and/or responsibilities;

(ii)Any material reduction in the Participant’s Base Salary;

(iii)Any material reduction in the Participant’s target annual or long-term incentive opportunity; 

(iv)Failure to pay annual or long-term incentive compensation to which the Participant is otherwise entitled under the terms and conditions of the applicable Company incentive plan, at the time at which such compensation is otherwise payable or as soon thereafter as is administratively feasible; 

(v)During the Change in Control Period only, any geographic relocation of Participant’s position to a new office location that is more than fifty (50) miles from the Participant’s then present office location, unless the relocated office is closer to the Participant’s then principal residence; or

(vi)The failure of any successor to the Company (whether direct or indirect, by purchase, merger, consolidation or otherwise) to expressly assume and agree to honor this Plan, if such assumption is legally required to make this Plan enforceable against the successor.  

For purposes of this definition, the term “material reduction” shall mean a reduction that is, or series of reductions with respect to the same form of benefit or remuneration that are, greater than 10% and which do not affect, with respect to Section 2(u)(ii), substantially all employees, and with respect to Section 2(u)(iii), substantially all persons covered by the applicable plan or program. 

Notwithstanding the foregoing, Good Reason shall not be deemed to have occurred unless the Participant provides written notice to AdvanSix identifying the event or omission constituting the reason for a Good Reason termination within ninety (90) days following the first occurrence of such event or omission.  Within thirty (30) days after such notice has been provided to AdvanSix, AdvanSix shall have the opportunity, but shall have no obligation, to cure such event or condition that gives rise to a Good Reason termination.  If AdvanSix fails to cure the event or condition giving rise to a Participant’s Good Reason termination by the end of the thirty (30) day cure period, the Participant’s employment shall be terminated effective as of the expiration of such thirty (30) day cure period unless the Participant has withdrawn such Good Reason termination notice.  

(v)    “Medical Leave of Absence” means an absence from active employment due to a Participant’s inability to perform the functions of his or her job, provided that during such absence the Participant (i) is receiving short-term disability benefits, (ii) is receiving long-term disability benefits, (iii) is on a medical leave of absence granted by the Company or required by law, or (iv) any combination of (i)-(iii).
    
(w)    “Other Participants” means all Participants in the Plan other than the CEO.

(x)     “Participant” has the meaning set forth in Section 4 of the Plan.  

(y)    “Person” has the meaning set forth in Section 2(i) of the Plan.

(z)    “Plan” means this Executive Severance Pay Plan of AdvanSix Inc. 

4

(aa)    “Potential Change in Control Period” is deemed to commence at the time of the earliest of the following events to occur: (a) the Company enters into an agreement, the consummation of which would result in the occurrence of a Change in Control; (b) the Company or any person or group publicly announces an intention to take or to consider taking actions that, if consummated, would constitute a Change in Control; (c) any Person, corporation or other entity or “group” (as used in Section 13(d) of the Exchange Act) (other than (A) the Company, (B) any trustee or other fiduciary holding securities under an employee benefit plan of the Company or an Affiliate or (C) any entity owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of the voting power of the Company Voting Securities) becomes the beneficial owner, directly or indirectly, of securities of the Company representing 15 percent or more of either the then outstanding shares of common stock or the combined voting power of the Company’s then outstanding securities (not including in the securities beneficially owned by such person or group any securities acquired directly from the Company or its Affiliates); or (d) the Board adopts a resolution to the effect that, for purposes of the Plan, a Potential Change in Control Period has commenced. The Potential Change in Control Period is deemed to continue until the adoption by the Board of a resolution stating that, for purposes of the Plan, the Potential Change in Control Period has expired.

(bb)     “Prior Year Bonus” means a Participant’s target incentive opportunity under the annual incentive compensation plan covering the fiscal year prior to the fiscal year in which the Participant’s Covered Termination occurs (“Prior Fiscal Year”) and calculated using the Participant’s annual base salary rate in effect on the last day of the Prior Fiscal Year.
    
(cc)    “Release” has the meaning set forth in Section 6(c) of the Plan.

(dd)    “Separation Date” means a Participant’s final day of employment with the Company (typically the day prior to the date as of which the Participant would be eligible to commence receipt of Severance Benefits, without reference to any delay in payment that may be required under Code Section 409A), and shall be the date on which the Participant’s active employment with the Company is severed within the meaning of Code Section 409A.

(ee)    “Severance Benefits” means the severance benefits described in Section 6 of the Plan.

(ff)    “Target Bonus” means a Participant’s target incentive opportunity under the annual incentive compensation plan for the fiscal year in which the Participant’s Covered Termination occurs, determined without regard to any reduction thereof that constitutes Good Reason.

3.    Effective Date.

The Plan is effective as of November 10, 2017 with respect to Participants whose employment is terminated (and such termination constitutes a Covered Termination) on or after such date.  

4.    Participation.

An individual shall be a participant in the Plan if he or she is (i) designated by the Board as, and is then serving as, an “executive officer” of the Company within the meaning of Rule 3b-7 promulgated under the Exchange Act and (ii) designated by the Board or the Committee to participate in the Plan (“Participant”).  A Participant shall continue to be eligible for Severance Benefits under this Plan until the earlier of (i) the date the employment relationship with the Company is severed for reasons other than a Covered Termination, or (ii) the date the Participant ceases to satisfy the definition of Participant hereunder; provided, however, any Participant who ceases to satisfy the definition of Participant hereunder on or after a Change in Control 

5

shall nevertheless continue to be a Participant in the Plan. A Participant who is at any time the subject of a Covered Termination shall continue to be a Participant until all of the benefits to which he or she is entitled under the Plan, if any, have been paid.

5.    Covered Terminations.

In order to be eligible for Severance Benefits under Section 6, a Participant must be the subject of a Covered Termination. A Covered Termination means, subject to this Section 5, an involuntary termination of employment initiated by the Company or a voluntary termination by the Participant with Good Reason.  In no event, however, shall the following events constitute a Covered Termination under this Plan:

(a)    an involuntary termination of employment for Cause;

(b)    termination of employment due to the death or Disability of a Participant; 

(c)    termination of employment due to the Participant’s failure to timely return to work upon expiration of an authorized or legally sanctioned leave of absence; 

(d)    termination of employment initiated as a result of a Participant’s refusal to accept a transfer to another Company location (except as otherwise provided in Section 2(u)(v) in connection with a Good Reason termination occurring during the Change in Control Period); or 

(e)    in the case of a sale or other disposition of a subsidiary, division or other business unit or operation of the Company in which the Participant is then employed and which sale or disposition does not constitute a Change in Control, a termination of employment initiated as a result of a Participant’s refusal to accept an offer of employment with the transferee or successor entity; provided, however, in such case a Covered Termination shall be deemed to have occurred if (i) the Participant is not offered substantially comparable employment with the transferee or successor entity, as determined by the Plan Administrator in its sole discretion, or (ii) the Participant’s employment is terminated during the Change in Control Period solely as a result of his or her refusal to accept employment with the successor entity at a location that is more than 50 miles from his or her then present office location (unless the relocated office is closer to the Participant’s then principal residence in which case such termination would not be a Covered Termination); or

(f)    termination of employment due to the Participant’s failure to return to active employment within eighteen (18) months of commencing a Medical Leave of Absence; provided, however, if a Participant is medically cleared to return to work (with documentation reasonably acceptable to the Company) before the conclusion of such eighteen (18) month period and is ready and willing to do so but does not return to active employment because (i) no comparable job for which the Participant is qualified is available, or (ii) such Participant is unable to locate another comparable Company position within thirty (30) days following her or her return to work, then such Participant shall be treated as having been subject to a Covered Termination.  
6.    Severance Benefits.

(a)    Covered Termination Outside of the Change in Control Period. If a Participant is the subject of a Covered Termination which does not occur within the Change in Control Period, the Company shall make a lump sum cash payment to the Participant as follows, subject to Section 6(c) - (e) below:

6

(i)CEO: an amount equal to two (2) times the sum of the Participant’s Base Salary plus Prior Year Bonus. 

(ii)Other Participants: an amount equal to one (1) times the sum of the Participant’s Base Salary plus Prior Year Bonus.  

In the event of a Covered Termination that does not occur within the Change in Control Period, each outstanding equity or other incentive award of the Company granted to the Participant shall be treated as provided in the applicable Company equity or incentive plan and any related award agreement.  

(b)    Covered Termination During the Change in Control Period.  A Participant who is the subject of a Covered Termination which occurs during the Change in Control Period shall receive the benefits described in this subparagraph (b), subject to Section 6(c) - (e) below.      

(i)Cash Severance.  The Company shall make a lump sum cash payment to the Participant as follows:

(A)CEO: an amount equal to three (3) times the sum of the Participant’s Base Salary plus Target Bonus.  

(B)Other Participants: an amount equal to two (2) times the sum of the Participant’s Base Salary plus Target Bonus.

(ii)Benefits Payment.  For each Participant who, immediately prior to his or her Separation Date, is enrolled in the Company’s medical, dental and vision care insurance plans and, as a result, is entitled to elect continuation coverage under COBRA, the Company shall make a taxable lump sum cash payment to the Participant estimated to equal to the aggregate cost that the Company otherwise would have incurred (less the contributions required of active employees as in effect for the Participant immediately prior to the Separation Date) to subsidize the Participant’s COBRA premiums to continue his or her coverage (including coverage for the Participant’s eligible dependents, if applicable) (the “COBRA Premiums”) for the period of time from the Separation Date through the last day of the Participant’s Benefit Coverage Period.  Any such payment pursuant to this Section 6(b)(ii) may, but is not required to, be used to offset a Participant’s COBRA costs, and shall be paid to the Participant regardless of whether the Participant elects COBRA.  For purposes of this Section 6(b)(ii), the “Benefit Coverage Period” is defined as follows:

(A)CEO: for the CEO, the thirty-six (36) month period directly following the CEO’s Separation Date. 

(B)Other Participants: for Other Participants, the twenty-four (24) month period directly following the Participant’s Separation Date.

In the event of a Covered Termination that does not occur within the Change in Control Period, each outstanding equity or other incentive award of the Company granted to the Participant shall be treated as provided in the applicable Company equity or incentive plan and any related award agreement.  

(c)    Severance Benefits Conditioned on Release.  (i) Notwithstanding anything in this Plan to the contrary, all benefits under this Section 6 shall be provided in consideration for, and conditioned upon, (A) the execution and non-revocation of a release by the Participant of all claims, known or unknown, arising on or before the date of the release against the Company and its officers, directors and employees in form and substance prescribed by and satisfactory to the Company (which release may include cooperation, nondisclosure, non-competition, non-disparagement, non-solicitation, confidentiality, intellectual property 

7

and other covenants) (the “Release”); (B) the affirmation or initial agreement (as the case may be), in each case in a form and manner prescribed by the Company, of the Participant’s obligations under cooperation, nondisclosure, non-competition, non-disparagement, non-solicitation, confidentiality, intellectual property and/or other covenants in favor of the Company (which affirmation/initial agreement may be made part of the Release); (C) the repayment of any amounts due to the Company; and (D) the return by the Participant to the Company of all property of the Company, including any and all trade secrets, proprietary and confidential information in the Participant’s possession, custody or control.

(ii)A Participant must execute all required documents, including the Release, not later than sixty (60) days after the Participant’s Separation Date (or any earlier period required for the executed Release). If a Participant fails to execute such documents within the required time period, the Participant shall not be entitled to receive Severance Benefits under this Plan.

(iii)Notwithstanding anything herein to the contrary, the Plan Administrator may, in its sole and absolute discretion, waive the requirement that a Participant execute a Release or cooperation, nondisclosure, non-competition, non-disparagement, non-solicitation, confidentiality, intellectual property and/or other covenants in order to receive Severance Benefits.

(iv)Nothing contained in this Plan or in any Release or other agreement under Section 6(c)(i) above shall limit a Participant’s ability to file a charge or complaint with any federal, state or local government agency or commission (“Agency”).  In addition, nothing in this Plan or any other Company agreement, policy, practice, procedure, directive or instruction shall prohibit a Participant from reporting possible violations of federal, state or local laws or regulations to any Agency or making other disclosures that are protected under the whistleblower provisions of federal, state or local laws or regulations.  A Participant does not need prior authorization of any kind to make any such reports or disclosures, and a Participant is not required to notify the Company that the Participant had made such reports or disclosures.  Nothing in this Plan shall limit any right a Participant may have to receive a whistleblower award for information provided to the Securities and Exchange Commission or other Agency.  

(d)    Suspension of Benefits. The Company may, in its sole discretion, terminate or suspend all Plan benefits upon learning, or having good reason to believe, that the Participant has violated any of the conditions or any applicable covenants described in Section 6(c) or has breached any of the terms of the Release.  In such case, AdvanSix shall have the right to recover all but $500, or in the event no benefits under the Plan have yet been paid to the Participant, $500 of consideration shall be provided to Participant, and in each case, such consideration received by the Participant shall be considered adequate consideration for the Release and other covenants hereunder. The Company’s right to suspend or terminate Plan benefits hereunder shall not preclude the Company from pursuing any and all other remedies for such violations, including, without limitation, seeking injunctive relief.

(e)    Nonduplication of Benefits. Any benefit determined to be payable to a Participant under this Plan shall, subject to and consistent with Code Section 409A, be reduced by the amount of any similar severance, redundancy or employment termination benefit payable to the Participant under (i) any other severance plan sponsored or funded by the Company, (ii) any agreement between the Company and the Participant, whether oral or written, express or implied, relating to termination related benefits, or (iii) any statutory or court mandated entitlement (including entitlements under foreign law), regardless of whether the benefit determined under such other plan, agreement, statutory or court mandated entitlement is payable at an earlier or a later date than payments under the Plan, it being the intention of this subparagraph (e) to protect the Company from the payment of duplicative severance, redundancy or employment termination benefits.

8

7.    Form and Timing of Severance Benefits.

(a)Severance Benefits payable in cash under Section 6 shall be paid no later than the 30th day following the Separation Date. Notwithstanding the foregoing, the Company may, in its sole discretion, delay the payment, or commencement of payment, of the Severance Benefits until the Participant has executed a Release and the time period for revoking such Release, if applicable, has expired.  In such case, and subject to Section 6(c) above, the Company shall pay the Severance Benefits upon the receipt of the Release or the expiration of the revocation period, as applicable.  

(b)Notwithstanding anything in this Plan to the contrary, to the extent required by Code Section 409A, (i) payments will be subject to delay as and to the extent required under Section 22(a) of this Plan and (ii) in the event that the period during which the Participant is entitled to consider the Release (and to revoke the Release, if applicable) spans two calendar years, then any payment that otherwise would have been payable during the first calendar year will in no case be made until the later of (A) the end of the revocation period (assuming that the Participant does not revoke), or (B) the first business day of the second calendar year (regardless of whether the Participant used the full time period allowed for consideration).

(c)If a Participant dies after signing and returning the Release, without revoking the Release, and before all Severance Benefits have been paid, the balance of such payments will be paid to the Participant’s estate in a lump sum within sixty (60) days following the Participant’s death.

8.    Forfeiture of Benefits.

Notwithstanding anything in the Plan to the contrary and in addition to any rights that the Company may have under Section 6 and the Release and other agreements contemplated in Section 6, the Plan Administrator reserves the right in its sole and absolute discretion to cancel all benefits under this Plan in the event a Participant engages in any activity that the Plan Administrator considers detrimental to the Company’s interests, as determined by the Plan Administrator, General Counsel or Chief Human Resources Officer (or, in the latter two cases, the individual performing such function, as determined by the Committee), or their delegees.  Activities that are considered detrimental to the Company’s interests include, but are not limited to:

(a)any effort on the part of a Participant, either directly or indirectly, to recruit or solicit employees of the Company for employment with another company without the written approval of AdvanSix;

(b)any effort on the part of the Participant, either directly or indirectly, to recruit or solicit customers of AdvanSix for any purpose contrary to the interests of the Company;
 
(c)the disclosure of any Company confidential or proprietary information, or the breach of any obligations under the Participant’s agreements relating to intellectual property or confidential information;

(d)any intentional misconduct substantially damaging to the property or business of the Company;

(e)the commission of a fraud or misappropriation of any property, proprietary information, intellectual property or trade secrets of the Company for personal gain or for the benefit of another party;

(f)knowingly making false or misleading statements about the Company or its products, officers or employees to competitors or customers or potential customers of the Company, or to current or former employees of the Company;

9

(g)a Participant, who is a former employee of the Company, holding himself or herself out as an active employee of the Company; or

(h)breaching any terms of the Release.

9.     Administration. 

(a)    Plan Administration. The Committee shall be the Plan Administrator for purposes of ERISA; provided, however, on or before a Change in Control, the Committee may appoint a person or persons who shall be independent of the Company to be the new Plan Administrator upon the occurrence of a Change in Control and the Plan Administrator shall provide to such new Plan Administrator such information with respect to each Participant in the Plan as shall be necessary to enable the new Plan Administrator to make determinations under, and otherwise administer, the Plan. Upon a Change in Control, the new Plan Administrator shall have the authority vested in the Plan Administrator under Section 10 and elsewhere in this Plan, and claims for benefits shall be subject to the claims and appeals procedures outlined in Section 10.
 
(b)    Powers and Duties of Plan Administrator. The Plan Administrator shall have the full discretionary power and authority to (i) construe and interpret the Plan (including, without limitation, supplying omissions from, correcting deficiencies in, or resolving inconsistencies or ambiguities in, the language of the Plan); (ii) determine all questions of fact arising under the Plan, including questions as to eligibility for and the amount of benefits; (iii) establish such rules and regulations (consistent with the terms of the Plan) as the Committee deems necessary or appropriate for administration of the Plan; and (iv) perform all other acts the Plan Administrator believes reasonable and proper in connection with the administration of the Plan.  The Plan Administrator shall be entitled to rely on the records of the Company in making any determination under this Plan, including the determination of any Participant’s entitlement to, and amount of, Severance Benefits under the Plan. Any determination of the Plan Administrator, including interpretations of the Plan and determinations of questions of fact, shall be final and binding on all parties.

To the extent permitted by applicable law, rule or regulation, the Plan Administrator may delegate to one or more officers of the Company, subject to such terms as the Plan Administrator shall determine, authority to administer all or any portion of the Plan, or the authority to perform certain functions with respect to the Plan, including administrative functions.  To the extent of such delegation, all references to the Plan Administrator in this Plan (other than such references in the immediately preceding sentence) shall be deemed references to such officers.

The Plan Administrator may retain attorneys, consultants, accountants or other persons (who may be employees of the Company) to render advice and assistance.  The Plan Administrator, the Company and its officers and directors shall be entitled to rely upon the advice, opinions and determinations of any such persons. Any exercise of the authorities set forth in this Section 9, whether by the Plan Administrator or its delegee, shall be final and binding upon the Company and all Participants.

(c)    Indemnification. To the extent permitted by law, the Company shall indemnify the Plan Administrator and its designees from all claims for liability, loss or damage (including payment of expenses in connection with defense against such claims) arising from any act or failure to act in connection with the Plan.

10

10.    Claims and Appeals Procedures.

(a)    Any request or claim for Plan benefits shall be deemed to be filed when a written request is made by the claimant or the claimant’s authorized representative that is reasonably calculated to bring the claim to the attention of the Plan Administrator.

(b)    The Plan Administrator, or its designee, shall respond, in writing, to any claimant’s claim for benefits under the Plan.  Such response shall be provided within 90 days of its receipt by the Plan Administrator or, if special circumstances require and the claimant is so notified in writing before the expiration of the initial 90-day period, within 180 days of its receipt by the Plan Administrator. If the extension is necessary because the claimant has failed to submit the information necessary to decide the claim, the Plan Administrator’s period for responding to such claim shall be tolled until the date that the claimant responds to the request for additional information.  The response shall be written in a manner reasonably calculated to be understood by the claimant and shall, in the case of an adverse benefit determination:

(i)  set forth the specific reasons for the adverse benefit determination;

(ii)  contain specific references to Plan provisions relative to the adverse benefit determination;

(iii)  describe any material and information, if any, necessary for the claim for benefits to be perfected, and an explanation of why such material or information is necessary; and

(iv)  advise the claimant that any appeal of an adverse benefit determination must be made, in writing, to the Plan Administrator within 60 days after receipt of such adverse benefit determination, and must set forth the facts upon which the appeal is based.

(c)    If the claimant fails to appeal the Plan Administrator’s adverse benefit determination, in writing, within 60 days after its receipt by the claimant (or within 60 days after a denial of the claim), the Plan Administrator’s determination shall become final and conclusive.

(d)    If the claimant appeals the Plan Administrator’s adverse benefit determination in a timely fashion, the Plan Administrator shall re-examine all issues relevant to the original denial of benefits.  Any such claimant or his or her duly authorized representative may review any pertinent documents and records, including documents and records that were relied upon in making the benefit determination; documents submitted, considered or generated in the course of making the benefit determination (even if such documents were not relied upon in making the benefit determination); and documents that demonstrate compliance, in making the benefit determination, with the Plan’s required administrative processes and safeguards.  In addition, the claimant or his or her duly authorized representative may submit, in writing, any documents, records or other information relating to such claim for benefits.  In the course of its review, the Plan Administrator shall take into account all documents, records and other information submitted by the claimant or his or her duly authorized representative relating to such claim, regardless of whether it was submitted or considered as part of the initial benefit determination.

(e)  The Plan Administrator shall advise the claimant and such claimant’s representative, in writing, of its decision within 60 days of receipt of the written appeal, unless the Plan Administrator determines that circumstances require an extension of such 60-day period for not more than an additional 60 days.  Where such extension is necessary, the claimant shall be given written notice of the delay before the expiration of the initial 60-day period, which notice shall set forth the reasons for the delay and the date the Plan Administrator expects to render its decision.  In the event of an adverse benefit determination on appeal, the Plan Administrator shall advise the claimant, in a manner reasonably calculated to be understood by the 

11

claimant, of (i) the specific reasons for the adverse benefit determination, and (ii) the specific Plan provisions on which the adverse benefit determination was based.  The Plan Administrator’s written notice will advise the claimant of his or her right to receive, upon request and free of charge, copies of all documents, records and other information relevant to such claim. 

(f)    In the event of an adverse benefit determination after the Plan Administrator’s review, the claimant’s sole remedy shall be to file an action in court.  

The Plan’s claims procedures do not create any independent rights to Plan benefits.  A current or former Participant who files a claim for Plan benefits must satisfy all Plan requirements, including the requirements of Section 6, in order to be entitled to benefits.

Any request or claim for Severance Benefits under the Plan must be filed in writing with the Plan Administrator within 60 days after the current or former Participant knew or should have known of his/her potential right to Plan benefits.  However, in no event will any claim be considered timely if it is filed more than 180 days after the date a current or former Participant’s employment with the Company is terminated.  Requests or claims submitted more than 60 days after a current or former Participant knew or should have known of his/her potential right to Plan benefits, or more than 180 days after the date his/her employment with the Company is terminated (if such 180 day period expires earlier than the aforementioned 60-day period), are deemed waived by the claimant and considered time-barred.  

11.    Time Period for Filing a Lawsuit Against the Plan, the Company or Plan Fiduciaries.

Any lawsuit against the Plan, the Company, the Plan Administrator or any other Plan fiduciary must be filed no later than the six (6) month anniversary of the date the relevant claim or appeal is denied by the Plan Administrator.

12.    Certain Tax Matters.  

(a)A Participant shall bear all expense of, and be solely responsible for, all federal, state, local or foreign taxes due with respect to any Payment received under the Plan, including, without limitation, any “Excise Tax” (as defined below).  In the event it shall be determined by the “Accounting Firm” (as defined below) that any “Payment” (as defined below) to a Participant would be subject to the Excise Tax, the Accounting Firm shall determine whether to reduce the aggregate amount of the Payments payable to such Participant to the “Reduced Amount” (as defined below).  The Payments shall be reduced to the Reduced Amount only if the Accounting Firm determines that the Participant would have a greater “Net After-Tax Benefit” (as defined below) if the Participant’s Payments were reduced to the Reduced Amount.  If instead the Accounting Firm determines that the Participant would have a greater Net After-Tax Benefit if the Participant’s Payments were not reduced to the Reduced Amount, the Participant shall receive all Payments to which the Participant is entitled.

(b)If the Accounting Firm determines that the aggregate Payments otherwise payable to a Participant should be reduced to the Reduced Amount pursuant to this Section 12, the Company shall promptly give the Participant notice to that effect and a copy of the detailed calculation thereof.  All determinations made by the Accounting Firm under this Section 12 shall be made within fifteen (15) days after the date on which right to a Payment is triggered or as soon as reasonably practicable thereafter or such other time as requested by the Company or the Participant.  All determinations of the Accounting Firm made hereunder shall be final, conclusive and binding upon the Company and Participant. The reduction of Payments hereunder, if applicable, shall be made by first reducing any cash severance payments, then health benefits coverage payment and then any equity acceleration to which such Participant may be entitled under any 

12

equity plan or equity award agreement.  All fees and expenses of the Accounting Firm pursuant to this Section 12 shall be borne solely by the Company.  Notwithstanding anything in this Plan to the contrary, the obligations under this Section 12 shall not be conditioned upon the Participant’s termination of employment (e.g., in the event of a Change in Control which does not result in a Participant’s termination of employment or entitlement to Severance Benefits under this Plan, but which causes the accelerated vesting of such Participant’s equity awards under an equity plan or equity award agreement giving rise to an Excise Tax, the obligations under this Section 12 shall apply with respect to such accelerated vesting).   

(c)For purposes of this Section 12, the following definitions apply:

(i) “Accounting Firm” shall mean a nationally recognized certified public accounting firm as may be designated by the Plan Administrator, provided that in the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Plan Administrator may appoint another nationally recognized accounting firm to make the determinations required under this Section 12.

(ii) “Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax.

(iii) “Net After-Tax Benefit” shall mean the aggregate “Value” (as defined below) of all Payments to a Participant, net of all taxes imposed on the Participant with respect thereto under Sections 1 and 4999 of the Code and under applicable state and local laws, as determined by the Accounting Firm.

(iv) “Payment” means any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of the Participant, whether paid or payable pursuant to this Plan or otherwise.

(v) “Reduced Amount” means the greatest amount of Payments that can be paid to a Participant that would not result in the imposition of the Excise Tax upon the Participant if the Accounting Firm determines to reduce Payments to the Participant pursuant to this Section 12.

(vi) “Value” of a Payment means the economic present value of a Payment as of the date of the Change in Control (or such other date as required pursuant to Section 280G of the Code), as determined by the Accounting Firm pursuant to Section 280G of the Code using the discount rate required by Section 280G(d)(4) of the Code.

13.    Unfunded Obligation.

All benefits payable under this Plan shall constitute an unfunded obligation of the Company.   Payments shall be made, as due, from the general funds of the Company.  This Plan shall constitute solely an unsecured promise by the Company to pay severance benefits to Participants to the extent provided herein.

14.    Inalienability of Benefits.

No Participant shall have the power to transfer, assign, anticipate, mortgage or otherwise encumber any rights or any amounts payable under this Plan; nor shall any such rights or amounts payable under this Plan be subject to seizure, attachment, execution, garnishment or other legal or equitable process, or for the payment of any debts, judgments, alimony, or separate maintenance, or be transferable by operation of law in the event of bankruptcy, insolvency, or otherwise.  In the event a person who is receiving or is entitled to receive 

13

benefits under the Plan attempts to assign, transfer or dispose of such right, or if an attempt is made to subject such right to such process, such assignment, transfer or disposition shall be null and void.

15.    Withholding.

The Company shall have the right to withhold any taxes required to be withheld with respect to any benefits due under this Plan.

16.    Amendment or Termination.

The Plan Administrator reserves the right to amend or terminate the Plan at any time without prior notice to or the consent of any Participant; provided, however, that the General Counsel or Chief Human Resources Officer (or the individual performing such function, as determined by the Committee) shall have the right to adopt amendments to the Plan that are administrative or ministerial in nature. No amendment or termination shall adversely affect the rights of any Participant whose employment is terminated prior to such amendment or termination. However, any Participant whose employment continues after amendment of the Plan shall be governed by the terms of the Plan as so amended. Any Participant whose employment continues after termination of the Plan shall have no right to a benefit under the Plan.  It is intended that any amendment or termination of the Plan will comply with Code Section 409A.  Notwithstanding anything to the contrary herein, the Plan may not be terminated or amended in any manner adverse to the interests of Participants during a Potential Change in Control Period or the Change in Control Period.  

17.    Attorneys Fees and Costs. 

Following a Change in Control, if a Participant is determined to be entitled to receive payments or benefits under this Plan by a court of competent jurisdiction, the Company shall immediately pay or reimburse the affected Participant for the full amount of any attorneys’ fees and other expenses incurred by the affected Participant in pursuing his or her claim for benefits, including claims incurred during the claims and appeals portion of the process.  The payment or reimbursement shall include the reasonable hourly rates charged by the Participant’s attorneys, any and all other expenses related to the action incurred by or on behalf of the affected Participant, the costs and expenses of any experts utilized to prepare the claim, and any other court costs assessed against the affected Participant.

18.    Plan Not a Contract of Employment.

Nothing contained in this Plan shall give a Participant the right to be retained in the employment of the Company.  This Plan is not a contract of employment between the Company and any Participant.

19.    Action by the Company.

Unless expressly indicated to the contrary herein, any action required to be taken by an entity may be taken by action of its governing body or by any appropriate officer or officers traditionally responsible for such determination or actions, or such other individual or individuals as may be designated by such governing body, officer or employee.

20.    Governing Law.

The Plan is an employee welfare benefit plan within the meaning of Section 3(1) of ERISA, and will be construed in accordance with the provisions of ERISA, the Code and the laws of the State of Delaware.

14

21.    Severability.

If any provision of this Plan (other than Section 6(c)) shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts of this Plan, but this Plan shall be construed and enforced as if said illegal or invalid provision had never been included herein.  If Section 6(c) shall be held illegal or invalid for any reason or otherwise interpreted to permit a Participant to bring a lawsuit against the Company, said illegality, invalidity or interpretation shall nullify the remainder of this Plan with respect to the affected Participant.

22.    Code Section 409A.

(a)Notwithstanding any provision of the Plan to the contrary, if required by Code Section 409A and if a Participant is a “Specified Employee” (as defined below), no benefits shall be paid under this Plan during the “Postponement Period” (as defined below).  To the extent payment of benefits is required to be delayed for the Postponement Period in accordance with this Section 22, the accumulated amounts withheld on account of Code Section 409A shall be paid in a lump sum payment within 30 days after the end of the Postponement Period, and no interest or other adjustment shall be made for the delayed payment.  If the Participant dies during the Postponement Period prior to the payment of benefits, the amounts withheld on account of Code Section 409A shall be paid to the Participant’s estate within sixty (60) days after the Participant’s death.

(b)This Plan is intended to meet the requirements of the “short-term deferral” exception, the “separation pay” exception and other exceptions under Code Section 409A.  Notwithstanding anything in the Plan to the contrary, if required by Code Section 409A, payments may only be made under this Plan upon an event and in a manner permitted by Code Section 409A, to the extent applicable.  For purposes of Code Section 409A, the right to a series of payments under the Plan shall be treated as a right to a series of separate payments.  All reimbursements and in-kind benefits provided under the Plan shall be made or provided in accordance with the requirements of Code Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses eligible for reimbursement during the period of time specified in the Plan; (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits provided in any other calendar year; (iii) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred; and (iv) the right to reimbursement or an in-kind benefit is not subject to liquidation or exchange for another benefit.  In no event may a Participant designate the year of payment for any amounts payable under the Plan.

(c)For purposes of this Section 22, the following definitions apply:

(i)    “Specified Employee” means a Participant who, at any time during the 12-month period ending on the identification date, is a “specified employee” under Code Section 409A, as determined by the Chief Human Resources Officer (or the individual performing such function, as determined by the Committee) or his or her delegee, which determination of “specified employees,” including the number and identity of persons considered “specified employees” and identification date, shall be made by the Chief Human Resources Officer (or the individual performing such function, as determined by the Committee) or his or her delegee in accordance with the provisions of Code Section 416(i) and Code Section 409A.

(ii)    “Postponement Period” means for a Specified Employee, the period of six months after the Specified Employee’s Separation Date (or such other period as may be required by Code Section 409A) during which deferred compensation may not be paid to the Specified Employee under Code Section 409A.

15

23.    Company’s Successors.

Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the obligations under this Plan and agree expressly to perform the obligations under this Plan.  For all purposes under this Plan, the terms “Company” and “AdvanSix” shall include any successor to the Company’s business and/or assets as contemplated in this Section 23.

16EX-4.1

 EXHIBIT 4.1 

EXECUTION VERSION 
 REPUBLIC
SERVICES, INC. 
 to 
 U.S. BANK
NATIONAL ASSOCIATION 
 as Trustee 
  

 
 SIXTH
SUPPLEMENTAL INDENTURE, 
 Dated as of November 16, 2017 

 
  

$650,000,000 
 3.375% Notes due
2027 
  
  

Supplement to Indenture dated as of November 25, 2009 
  

 SIXTH SUPPLEMENTAL INDENTURE, dated as of November 16, 2017 (the “Sixth Supplemental
Indenture”), between REPUBLIC SERVICES, INC., a Delaware corporation (hereinafter called the “Company”) and U.S. BANK NATIONAL ASSOCIATION, as trustee under the Base Indenture referred to below (hereinafter called the
“Trustee”). 
 WHEREAS, the Company entered into an Indenture dated as of November 25, 2009 (the “Base Indenture,”
all capitalized terms used in this Sixth Supplemental Indenture and not otherwise defined being used as defined in the Base Indenture) (the Base Indenture, as supplemented, including as supplemented by this Sixth Supplemental Indenture is
hereinafter collectively called the “Indenture”) with the Trustee, providing for the issuance of senior debt securities, unlimited as to principal amount, to bear such rates of interest, to mature at such time or times, to be issued in one
or more series and to have such other provisions as authorized by or pursuant to the authority granted in one or more resolutions of the Board of Directors of the Company; and 

WHEREAS, the Company proposes to issue $650,000,000 aggregate principal amount of its 3.375% Notes due 2027 (such notes being referred to
herein as the “Notes” and all references to Securities in the Base Indenture shall be deemed to refer also to the Notes unless the context otherwise provides); and 

WHEREAS, Section 9.01 of the Base Indenture provides that without the consent of the Holders of the Securities of any series issued under
the Base Indenture, the Company, when authorized by a Board Resolution, and the Trustee may enter into one or more indentures supplemental to the Base Indenture to, among other things, establish the form or terms of securities of any series as
permitted by Sections 2.01 and 3.01 thereof; and 
 WHEREAS, the entry into this Sixth Supplemental Indenture by the parties hereto is in
all respects authorized by the provisions of the Base Indenture; and 
 WHEREAS, all things necessary have been done to make this Sixth
Supplemental Indenture, when executed and delivered by the Company, the legal, valid and binding agreement of the Company, in accordance with its terms; and 

WHEREAS, all things necessary have been done to make the Notes, when executed and delivered by the Company and authenticated by the Trustee as
provided for in the Indenture, the legal, valid and binding agreements of the Company, in accordance with their terms; and 
 NOW,
THEREFORE, THIS SIXTH SUPPLEMENTAL INDENTURE WITNESSETH: 
 The parties hereto mutually covenant and agree as follows: 

SECTION 1. The Base Indenture is hereby amended solely with respect to the Notes, except as otherwise expressly provided herein, as follows:

  
 1 

 (A) By amending Section 1.01 to replace in whole the following definitions thereto in lieu
of the corresponding existing definitions, so that in the event of a conflict with the definition of terms in the Base Indenture, the following definitions shall control: 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term of the Notes to be redeemed (assuming that the Notes matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues
of corporate debt securities of a comparable maturity to the remaining term of the Notes (assuming that the Notes matured on the Par Call Date). 

“Comparable Treasury Price” means, with respect to any Redemption Date, (A) the average of six Reference Treasury Dealer
Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations; or (B) if the Independent Investment Banker obtains fewer than six such Reference Treasury Dealer Quotations, the average of all
such quotations. 
 “Independent Investment Banker” means one of BNP Paribas Securities Corp., J.P. Morgan Securities LLC or Wells
Fargo Securities, LLC, as selected by the Company, and their respective successors, or if each of such firms is unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed
by the Company. 
 “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its
successors. 
 “Reference Treasury Dealer” means (1) each of BNP Paribas Securities Corp., J.P. Morgan Securities LLC and
Wells Fargo Securities, LLC and their respective successors, provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will
substitute for such firm another Primary Treasury Dealer, and (2) up to three additional Primary Treasury Dealers selected by the Independent Investment Banker after consultation with the Company. 

“Restricted Subsidiary” means any Subsidiary of the Company which, at the time of determination, owns or is a lessee pursuant to a
capital lease of any Principal Property. 
 “S&P” means S&P Global Ratings, a division of S&P Global Inc., and its
successors. 
 “Treasury Rate” means, with respect to any Redemption Date, (1) the yield, under the heading that represents
the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15 (519)” or any successor publication that is published weekly by the Board of Governors of the Federal

  
 2 

 
Reserve System and that establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity
corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Par Call Date, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the
Treasury Rate will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month) or (2) if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate will be calculated on the third Business Day preceding the Redemption Date. 

(B) By amending Section 1.01 to add the following new definitions in correct alphabetical order: 

“Change of Control” means the occurrence of any of the following after the date of issuance of the Notes: 

1. the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole to any “person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act)
other than to the Company or one of its Subsidiaries; 
 2. the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act, it being agreed that an employee of the Company or any of its Subsidiaries for whom shares
are held under an employee stock ownership, employee retirement, employee savings or similar plan and whose shares are voted in accordance with the instructions of such employee shall not be a member of a “group” (as that term is used in
Section 13(d)(3) of the Exchange Act) solely because such employee’s shares are held by a trustee under said plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of the Company’s Voting Stock representing more than 50% of the voting power of its outstanding Voting Stock; 

3. the Company consolidates with, or merges with or into, any Person, or any Person consolidates with, or merges with or into, the Company, in
any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or Voting Stock of such other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where
the Company’s 

  
 3 

 
Voting Stock outstanding immediately prior to such transaction constitutes, or is converted into or exchanged for, Voting Stock representing more than 50% of the voting power of the Voting Stock
of the surviving Person immediately after giving effect to such transaction; 
 4. during any period of 24 consecutive calendar months, the
majority of the members of the Company’s Board of Directors shall no longer be composed of individuals (a) who were members of the Company’s Board of Directors on the first day of such period or (b) whose election or nomination
to the Company’s Board of Directors was approved by individuals referred to in clause (a) above constituting, at the time of such election or nomination, at least a majority of the Company’s Board of Directors or, if directors are
nominated by a committee of the Company’s Board of Directors, constituting at the time of such nomination, at least a majority of such committee; or 

5. the adoption of a plan relating to the Company’s liquidation or dissolution. 

“Change of Control Triggering Event” means, with respect to the Notes, the Notes cease to be rated Investment Grade by each of the
Rating Agencies on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days following consummation
of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as any of the Rating Agencies has publicly announced that it is considering a possible ratings change). If a Rating Agency is
not providing a rating for the Notes at the commencement of any Trigger Period, the Notes will be deemed to have ceased to be rated Investment Grade by such Rating Agency during that Trigger Period. Notwithstanding the foregoing, no Change of
Control Triggering Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change of Control has actually been consummated. 

“Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating category of
Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), and the equivalent investment grade credit rating from any replacement rating agency
or rating agencies selected by the Company under the circumstances permitting the Company to select a replacement agency and in the manner for selecting a replacement agency, in each case as set forth in the definition of “Rating Agency.”

 “Notes” has the meaning set forth in the Recitals. 

“Par Call Date” has the meaning set forth in Section 11.01. 

  
 4 

 “Rating Agency” means each of Moody’s and S&P; provided, that if either of
Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside the Company’s control, the Company may appoint another “nationally recognized statistical rating
organization” within the meaning of Section 3(a)(62) of the Exchange Act as a replacement for such Rating Agency; provided, that the Company shall give notice of such appointment to the Trustee. 

“Voting Stock” of any specified Person as of any date means the capital stock of such Person that is at the time entitled to vote
generally in the election of the board of directors of such Person. 
 (C) By amending Section 4.01 by adding the following sentence at
the end of thereof: 
 “Both Section 4.02 (defeasance and discharge) and Section 4.03 (covenant defeasance) shall apply to the
Notes.” 
 (D) By replacing Section 4.03 in its entirety with the following: 

“Upon the Company’s exercise of the option applicable to this Section 4.03 with respect to the Notes, the Company shall be
released from its obligations under any covenant or provision contained or referred to in Sections 10.05, 10.06, 10.07 and 14.01, with respect to the Defeased Securities, on and after the date the conditions set forth in Section 4.04 below are
satisfied (hereinafter, “covenant defeasance”), and the Defeased Securities shall thereafter be deemed to be 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 shall continue to be deemed “Outstanding” for all other purposes hereunder, and the Events of Default under Section 5.01(c), (d) and (e) shall cease to be in
full force and effect with respect to the Notes. For this purpose, such covenant defeasance means that, with respect to the Defeased Securities, the Company may omit to comply with and shall have no liability in respect of any term, condition or
limitation set forth in any such Section, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or by reason of reference in any such Section to any other provision herein or in any other document and such
omission to comply shall not constitute a Default or an Event of Default under Section 5.01(c), (d) and (e) but, except as specified above, the remainder of this Indenture and such Defeased Securities shall be unaffected thereby.”

 (E) By amending Section 9.01 by: 
  

	 	(a)	deleting the period at the end of clause (m) and inserting the following: “; and”; and 

  
 5 

	 	(b)	inserting the following clause after clause (m): “(n) to add additional Securities of the same class and series in one or more tranches from time to time.” 

(F) By amending Section 9.02 by: 
  

	 	(a)	deleting the word “or” at the end of clause (j); 

  

	 	(b)	deleting the period at the end of clause (k) and inserting the following: “; or”; and 

  

	 	(c)	inserting the following clause after clause (k): 

 “(l) amend, change or modify the
Company’s obligation to make and consummate a Change of Control Offer in the event of a Change of Control Triggering Event in accordance with Section 14.01 after such Change of Control Triggering Event has occurred, including amending,
changing or modifying any definition related thereto.” 
 (G) By inserting after the first sentence in Section 3.01 the following:

 “The aggregate principal amount of Notes which may be issued under this Indenture shall be unlimited and the Company may issue
additional notes of the same class and series as the Notes (the “Additional Notes”) in one or more tranches from time to time, without notice to or the consent of existing Holders of the Securities of any series, including the Notes. The
Additional Notes shall have the same terms as all other Notes and all references in the Indenture shall be deemed to also refer to the Additional Notes. The Additional Notes shall vote as a class with all other Notes as to matters as to which such
Notes have a vote.” 
 (H) By replacing Section 11.01 in its entirety with the following: 

“(a) Prior to August 15, 2027 (three months prior to the Stated Maturity of the Notes) (the “Par Call Date”), the Notes
will be redeemable, in whole or in part, at the option of the Company, at any time or from time to time, at a redemption price equal to the greater of: 

(1) 100% of the principal amount of the Notes to be redeemed, and 

(2) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (assuming that
such Notes matured on the Par Call Date) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the
applicable Treasury Rate, plus 15 basis points. 

  
 6 

 In the case of each of clauses (1) and (2), accrued and unpaid interest will be payable to,
but excluding, the redemption date (subject to the right of holders of record of such Notes on the relevant record date to receive interest due on an Interest Payment Date). 

(b) On or after the Par Call Date, the Notes will be redeemable, in whole or in part, at the option of the Company, at any time or from time
to time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to the redemption date (subject to the right of holders of record of such Notes on the relevant record date to
receive interest due on an Interest Payment Date).” 
 (I) By amending Section 11.04 by deleting the number 30 and inserting
“15”. 
 (J) By amending Section 11.05 by deleting the number 30 and inserting “15”. 

(K) By replacing the first sentence in Section 11.06 with the following: 

“On or prior to 10:00 a.m., New York City time, on any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent
(or, if the Company or any of its Affiliates is acting as Paying Agent, segregate and hold in trust as provided in Section 10.03) an amount of money in same day funds sufficient to pay the Redemption Price of, and (except if the Redemption Date
shall be an Interest Payment Date or Special Payment Date) accrued and unpaid interest on, all the applicable series of Securities or portions thereof which are to be redeemed.” 

(L) By adding as a new “Article XIV” thereto the following: 

“Article XIV 
 Repurchase
of Notes at the Option of the Holders 
 Section 14.01. REPURCHASE AT OPTION OF HOLDERS UPON A CHANGE OF CONTROL 

(a) Upon the occurrence of a Change of Control Triggering Event with respect to the Notes, unless the Company has exercised its right to
redeem the Notes pursuant to Article XI of the Indenture, each Holder of Notes shall have the right to require the Company to purchase all or a portion (equal to 

  
 7 

 
$2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”), at a purchase price equal
to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the date of purchase (the “Change of Control Payment”), subject to the rights of Holders on the relevant Regular Record Date to receive
interest due on the relevant Interest Payment Date. 
 (b) Within 30 days following the date upon which the Change of Control Triggering
Event occurred with respect to the Notes, or at the Company’s option, prior to any Change of Control but after the public announcement of the pending Change of Control, the Company shall send, by first class mail, a notice to each Holder of
Notes, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. 
 Such notice shall state: 

 

	 	(i)	the events causing the Change of Control; 

  

	 	(ii)	the date of the Change of Control; 

  

	 	(iii)	the amount of the Change of Control Payment; 

 (iv) that the Holder must exercise the
repurchase right prior to the close of business on the purchase date, which must be no earlier than 30 days nor later than 60 days from the date such notice is mailed, other than as may be required by law (the “Change of Control Payment
Date”); 
 (v) if the notice is mailed prior to any Change of Control but after the public announcement of the pending Change of
Control, that the offer is conditioned on the Change of Control being consummated on or prior to the Change of Control Payment Date; 
 (vi)
the name and address of the Paying Agent; 
 (vii) that the Holder must complete the Change of Control Repurchase Notice (as defined below)
to participate in the Change of Control Offer; and 
 (viii) any other procedures that Holders must follow to require the Company to
repurchase the Notes. 
 (c) Repurchases of Notes under this Section 14.01 shall be made, at the option of the Holder thereof, upon

  
 8 

 (i) delivery to the Trustee (or other Paying Agent appointed by the Company) by a Holder of a
duly completed notice (the “Change of Control Repurchase Notice”) in the form set forth on the reverse of the Note at any time prior to 5:00 p.m., New York City Time, on the Change of Control Payment Date; or 

(ii) delivery or book-entry transfer of the Notes to the Trustee (or other Paying Agent appointed by the Company) at any time after delivery
of the Change of Control Repurchase Notice (together with all necessary endorsements) at the Corporate Trust Office of the Trustee or the corporate trust office of its Affiliate (or other Paying Agent appointed by the Company) in the Borough of
Manhattan, such delivery being a condition to receipt by the Holder of the Change of Control Payment therefor; provided that such Change of Control Payment shall be so paid pursuant to this Section 14.01 only if the Note so delivered to the
Trustee (or other Paying Agent appointed by the Company) shall conform in all respects to the description thereof in the related Change of Control Repurchase Notice. 

The Change of Control Repurchase Notice shall state: 

(i) if certificated, the certificate numbers of Notes to be delivered for repurchase; 

(ii) the portion of the principal amount of Notes to be repurchased, which must be $2,000 or an integral multiple of $1,000 in excess thereof;

 (iii) that the Notes are to be repurchased by the Company pursuant to the applicable provisions of the Notes and the Indenture; and 

(iv) if such Change of Control Repurchase Notice is delivered prior to the occurrence of a Change of Control pursuant to a definitive
agreement giving rise to a Change of Control, that the Holder acknowledges that the Company’s offer is conditioned on the consummation of such Change of Control. 

provided, however, that if the Notes are not in certificated form, the Change of Control Repurchase Notice must comply with appropriate
procedures of the Depositary. 
 (d) On the Change of Control Payment Date, the Company shall, to the extent lawful: 

(i) accept or cause a third party to accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control
Offer, 

  
 9 

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

(iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate stating the
aggregate principal amount of Notes or portions of Notes being repurchased. 
 (e) The Company shall not be required to make a Change of
Control Offer with respect to the Notes if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for such an offer made by the Company and such third party purchases all the Notes properly
tendered and not withdrawn under its offer. 
 Section 14.02. COMPLIANCE WITH TENDER OFFER RULES 

The Company shall comply in all material respects with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the
provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the Notes, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached the Company’s
obligations under the Change of Control Offer provisions of the Notes by virtue of any such conflict.” 
 (M) The form of Security
attached as Exhibit A hereto shall be the form of Note for the series of Notes established by this Sixth Supplemental Indenture and the terms therein shall be incorporated by reference into this Sixth Supplemental Indenture. 

SECTION 2. Unless otherwise supplemented or amended by this Sixth Supplemental Indenture, the Base Indenture is incorporated by reference in
full into this Sixth Supplemental Indenture, and all parties to this Sixth Supplemental Indenture agree to be bound by the terms and provisions of the Base Indenture as supplemented and amended by this Sixth Supplemental Indenture. The Base
Indenture and this Sixth Supplemental Indenture shall be read, taken and construed as one and the same instrument. All provisions included in this Sixth Supplemental Indenture supersede any similar provisions included in the Base Indenture unless
not permitted by law. 
 SECTION 3. If any provision hereof limits, qualifies or conflicts with another provision hereof which is required
to be included in this Sixth Supplemental Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. 

  
 10 

 SECTION 4. All covenants and agreements in this Sixth Supplemental Indenture by the Company shall
bind its successors and assigns, whether so expressed or not. 
 SECTION 5. In case any provision in this Sixth Supplemental Indenture or in
the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions herein and therein shall not in any way be affected or impaired thereby. 

SECTION 6. Nothing in this Sixth Supplemental Indenture, expressed or implied, shall give to any Person, other than the parties hereto and
their successors hereunder, and the Holders of the Notes any benefit or any legal or equitable right, remedy or claim under this Sixth Supplemental Indenture. 

SECTION 7. This Sixth Supplemental Indenture and each Note shall be deemed to be a contract made under the laws of the State of New York and
this Sixth Supplemental Indenture and each such Note shall be governed by and construed in accordance with the laws of the State of New York. 

SECTION 8. All terms used in this Sixth Supplemental Indenture not otherwise defined herein that are defined in the Base Indenture shall have
the meanings set forth therein. 
 SECTION 9. This Sixth Supplemental Indenture may be executed in any number of counterparts, each of which
shall be an original; but such counterparts shall together constitute but one and the same instrument. Delivery of an executed counterpart of a signature page hereto by facsimile or electronic transmission shall be as effective as delivery of a
manually executed counterpart of this Sixth Supplemental Indenture. 
 SECTION 10. The recitals contained herein and in the Notes, except
the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Sixth
Supplemental Indenture or the Notes. The Trustee shall not be accountable for the use or application by the Company of Notes or the proceeds thereof. 

  
 11 

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

			
	REPUBLIC SERVICES, INC., as Issuer
		
	By:	 	  

		 	Name: Marsha A. Lacy
		 	Title:   Vice President and Treasurer

 [Signature Page to Sixth Supplemental Indenture] 

 
	
	U.S. BANK NATIONAL ASSOCIATION, as
	Trustee
	
	By:                                     
                                         
                  
	Name:
	Title:

  
 [Signature Page to
Sixth Supplemental Indenture] 

 EXHIBIT A 

[FORM OF FACE OF SECURITY] 
 [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 OF A DEPOSITARY OR A SUCCESSOR DEPOSITARY. TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH
IN SECTION 3.06 OF THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT AND ANY SUCH CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1 

 

	1 	These paragraphs should be included only if the Note is issued in global form. 

  
 A-1 

 REPUBLIC SERVICES, INC. 

3.375% NOTES DUE 2027 
 CUSIP NO.
760759AS9 
 ISIN NO. US760759AS91 
  

			
	No. _______	 	$___________________

 Republic Services, Inc., a Delaware corporation (herein called the “Company,” which term includes any successor
Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to                     or its registered assigns, the
principal sum of
                    ($                    )
United States dollars [,or such greater or lesser amount as may from time to time be endorsed on the Schedule of Increases and Decreases of Interests in the Global Note attached hereto (but in no event may such amount exceed the aggregate principal
amount of Notes authenticated pursuant to Section 3.03 of the Indenture referred to below and then Outstanding pursuant the terms of the Indenture)]2, on November 15, 2027, at the office
or agency of the Company referred to below, 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 May 15 and November 15 in each year, commencing May 15, 2018 at the rate of 3.375% per annum, in United States dollars, until the principal hereof is paid or duly
provided for. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. 

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 any Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the May 1 or November 1 (whether or not 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, and interest on such defaulted interest at the interest rate borne by the Securities, to the extent lawful, shall 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 any 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 thereof shall be given to Holders of Securities 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 may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Payment of the principal of, premium, if any, and interest on, this Security, and exchange or transfer of this Security, will be made at the
office or agency of the Company in The City of New York maintained for such purpose (which initially will be a corporate trust office of the Trustee or its affiliate located at 100 Wall Street, Suite 1600, New York, NY 10005), or at such other
office or agency as may be maintained for such purpose, 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; provided, however, that payment of interest may be
made at the option of the Company by check mailed to the address of the Person entitled thereto as such address shall appear on the Security Register. 

 

	2 	 Use if Global Security 

  
 A-2 

 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. 

  
 A-3 

 Unless the certificate of authentication hereon has been duly executed by the Trustee referred to
on the reverse hereof or by the authenticating agent appointed as provided in the Indenture by manual signature of an authorized signer, this Security shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any
purpose. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by the manual or facsimile signature of one of
its authorized officers. 
  

			
	REPUBLIC SERVICES, INC., as Issuer
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the 3.375% Notes due 2027 referred to in the within- mentioned Indenture. 

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated: 

  
 A-5 

 [FORM OF REVERSE SIDE OF SECURITY] 

REPUBLIC SERVICES, INC. 
 3.375%
Notes due 2027 
 This Security is one of a duly authorized issue of Securities of the Company designated as its 3.375% Notes due 2027
(herein called the “Securities”), limited (except as otherwise provided in the Indenture referred to below) in aggregate principal amount to $650,000,000, issued under and subject to the terms of an indenture (herein called the
“Indenture”) dated as of November 25, 2009, between the Company and U.S. Bank National Association, as trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), as supplemented by
a Sixth Supplemental Indenture, dated as of November 16, 2017, between the Company and the Trustee to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of
rights, duties, obligations and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. 

Prior to August 15, 2027 (three months prior to their Stated Maturity) (the “Par Call Date”), the Securities may be redeemed,
as a whole or in part, at the option of the Company, at any time or from time to time at a Redemption Price equal to the greater of (1) 100% of the principal amount of the Securities to be redeemed and (2) the sum of the present values of the
remaining scheduled payments of principal and interest thereon (assuming such Securities matured on the Par Call Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the applicable Treasury Rate, plus 15 basis points, plus, in each case, accrued and unpaid interest to the Redemption Date, if any (subject to the right of holders of
record of such Securities on the relevant record date to receive interest due on an Interest Payment Date). On or after the Par Call Date, the Securities may be redeemed in whole or in part, at the option of the Company, at any time or from time to
time at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest thereon to the Redemption Date, if any (subject to the right of holders of record of such Securities on the relevant
record date to receive interest due on an Interest Payment Date). 
 Any redemption may be made upon not less than 15 and not more than 60
days’ notice to the Holders thereof as provided in the Indenture. 
 If less than all of the Securities are to be redeemed, the Trustee
shall select, not more than 60 nor less than 15 days before the Redemption Date, the Securities or portions thereof to be redeemed, by such method the Trustee shall deem fair and appropriate. 

In the case of any redemption of Securities in accordance with the Indenture, interest installments whose Stated Maturity is on or prior to
the Redemption Date will be payable to the Holders of such Securities of record as of the close of business on the relevant Regular Record Date or Special Record Date referred to on the face hereof. Securities (or portions thereof) for whose
redemption and payment provision is made in accordance with the Indenture shall cease to bear interest from and after the Redemption Date. 

  
 A-6 

 In the event of redemption or repurchase of this Security in accordance with the Indenture in
part only, a new Security or Securities for the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof. 

Upon the occurrence of a Change of Control Triggering Event with respect to the Securities, unless the Company has exercised its right to
redeem the Securities pursuant to Article XI of the Indenture, each Holder of the Securities shall have the right to require the Company to purchase all or a portion (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such
Holder’s Security pursuant to Article XIV of the Indenture. 
 If an Event of Default shall occur and be continuing, the principal
amount of all the Securities may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture
contains provisions for defeasance at any time of (a) the entire Indebtedness on the Securities and (b) certain covenants and Defaults and Events of Default, in each case upon compliance with certain conditions set forth therein. 

The Indenture permits, with certain exceptions (including certain amendments permitted without the consent of any Holders and certain
amendments which require the consent of all of the Holders) as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders under the Indenture and the Securities at any time
by the Company and the Trustee with the consent of the Holders of at least a majority in aggregate principal amount of the Securities at the time Outstanding that are affected. The Indenture also contains provisions permitting the Holders of at
least a majority in aggregate principal amount of the Securities (100% of the Holders in certain circumstances) at the time Outstanding that are affected, on behalf of the Holders of all the Securities, to waive compliance by the Company with
certain provisions of the Indenture and the Securities of such series and certain past Defaults and Events of Default under the Indenture and the Securities and their consequences. Any such consent or waiver by or on behalf of 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 whether or not 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 or any other obligor on the Securities (in the event such other obligor is obligated to make payments in respect of the Securities), which is absolute and unconditional, to pay the principal of,
and premium, if any, and interest on, this Security at the times, place, and rate, and in the coin or currency, herein prescribed. 
 As
provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the
Company in the Borough of Manhattan, The City of New York, 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 its attorney duly
authorized in writing, and thereupon one or more new Securities, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

  
 A-7 

 The Securities in certificated form are issuable only in registered form without coupons in
denominations of $2,000 and any integral multiple of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, the Securities are exchangeable for a like aggregate principal amount of Securities of
a differing authorized denomination, as requested by the Holder surrendering the same. 
 Except as indicated in the Indenture, 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 payable in connection therewith. 

A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations under the Securities or
the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Holder waives and releases all such liability. The waiver and release are part of the consideration for the
issue of the Securities. 
 Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent
of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security is overdue, and neither the Company, the Trustee nor any such agent shall be affected by
notice to the contrary. 
 THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT
GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF. 
 All terms used in this Security which are defined in the Indenture and not
otherwise defined herein shall have the meanings assigned to them in the Indenture. 

  
 A-8 

 CHANGE OF CONTROL REPURCHASE NOTICE 

If you want to elect to have only part of the Security purchased by the Company pursuant to Section 14.01 of the Indenture, state the
amount you elect to have purchased: 

$_______________________                 

Date:___________________ 
  

	
	Your Signature:_____________________________
	
	(Sign exactly as your name appears on the face of this Security)
	
	Tax Identification No: _______________________
	
	Signature Guarantee*:_______________________

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-9 

 SCHEDULE OF INCREASES AND DECREASES OF INTERESTS 

IN THE GLOBAL SECURITY3 

The following increases or decreases in this Global Security have been made: 
  

									
	 Date of

Exchange
	  	Amount of decrease in
Principal Amount of this
Global Security	  	Amount of increase in
Principal Amount of this
Global Security	  	Principal Amount of this
Global Security following
such decrease (or increase)	  	Signature of authorized
officer of Trustee or Note
Custodian

  

	3 	This should be included only if the Security is a Global Security. 

  
 A-10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00276-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00276-of-00352.parquet"}]]