Document:

INDENTURE AMONG BP PLC, BP CANADA FINANCE AND CHASE BANK

  
 EXHIBIT 4.1 
  
 
 
 BP Canada Finance Company, 
  
 Company 
  
 AND 

 
 BP p.l.c., 
  
 Guarantor 
  
 TO 
  
 JPMorgan Chase Bank, 
  
 Trustee

  
 
 
 Indenture

  
 Dated as of September 27, 2002 
  
 
 
 

  
 BP Canada Finance Company, 
 and 
 BP p.l.c. 
 to 
 JPMorgan Chase Bank 
  
 Indenture, dated as of September 27, 2002 
  
 Reference is made to the following
provisions of the Trust Indenture Act of 1939, as amended, which establish certain duties and responsibilities of the Company and the Trustee which may not be set forth fully in this Indenture: 
  

	 Section
 
	  	 Subject
 

	 
	 310(b)
 	  	 Disqualifications of Trustee for conflicting interest
 
	 
	 311     
 	  	 Preferential collection of claims of Trustee as creditor of Company
 
	 
	 312(a)
 	  	 Periodic filing of information by Company with Trustee
 
	 
	 312(b)
 	  	 Access of Securityholders to information
 
	 
	 313(a)
 	  	 Annual report of Trustee to Securityholders
 
	 
	 313(b)
 	  	 Additional reports of Trustee to Securityholders
 
	 
	 314(a)
 	  	 Reports by Company, including annual compliance certificate
 
	 
	 314(c)
 	  	 Evidence of compliance with conditions precedent
 
	 
	 315(a)
 	  	 Duties of Trustee prior to default
 
	 
	 315(b)
 	  	 Notice of default from Trustee to Securityholders
 
	 
	 315(c)
 	  	 Duties of Trustee in case of default
 
	 
	 315(d)
 	  	 Provisions relating to responsibility of Trustee
 
	 
	 315(e)
 	  	 Assessment of costs against litigating Securityholders in certain circumstances
 
	 
	 316(a)
 	  	 Directions and waivers by Securityholders in certain circumstances
 
	 
	 316(b)
 	  	 Prohibition of impairment of right of Securityholders to payment
 
	 
	 316(c)
 	  	 Right of Company to set record date for certain purposes
 
	 
	 317(a)
 	  	 Special powers of Trustee
 
	 
	 318(a)
 	  	 Provisions of Act to control in case of conflict
 

 

 

  
 BP Canada Finance Company, 
 and 
 BP p.l.c. 
 to 
 JPMorgan Chase Bank 
  
 Reconciliation and tie between Trust Indenture Act of 1939 and 
 Indenture, dated as of September 27, 2002 

 
 
	 Trust Indenture
     Act Section
 
	  	 Indenture Section
 

	 
	 §310(a)(1)
 	  	 609
 
	 
	         (a)(2)
 	  	 609
 
	 
	         (a)(3)
 	  	 Not Applicable
 
	 
	         (a)(4)
 	  	 Not Applicable
 
	 
	         (a)(5)
 	  	 609
 
	 
	         (b)
 	  	 608
 
	 
	  	  	 610
 
	 
	 §311(a)
 	  	 613(a)
 
	 
	         (b)
 	  	 613(b)
 
	 
	         (b)(2)
 	  	 703(a)(2)
 
	 
	  	  	 703(b)
 
	 
	 §312(a)
 	  	 701
 
	 
	  	  	 702(a)
 
	 
	         (b)
 	  	 702(b)
 
	 
	         (c)
 	  	 702(c)
 
	 
	 §313(a)
 	  	 703(a)
 
	 
	         (b)
 	  	 703(b)
 
	 
	         (c)
 	  	 703(a)
 
	 
	  	  	 703(b)
 
	 
	         (d)
 	  	 703(c)
 
	 
	 §314(a)(1)(2) and (3)
 	  	 704
 
	 
	         (a)(4)
 	  	 1008
 
	 
	         (b)
 	  	 Not Applicable
 
	 
	         (c)(1)
 	  	 102
 
	 
	         (c)(2)
 	  	 102
 
	 
	         (c)(3)
 	  	 Not Applicable
 
	 
	         (d)
 	  	 Not Applicable
 
	 
	         (e)
 	  	 102
 
	 
	 §315(a)
 	  	 601(a)
 
	 
	         (b)
 	  	 602
 
	 
	  	  	 703(a)(6)
 
	 
	         (c)
 	  	 601
 
	 
	         (d)
 	  	 601
 
	 
	         (d)(1)
 	  	 601
 
	 
	         (d)(2)
 	  	 601
 
	 
	         (d)(3)
 	  	 601
 
	 
	         (e)
 	  	 514
 
	 
	 §316(a)
 	  	 101
 
	 
	         (a)(1)(A)
 	  	 502
 
	 
	  	  	 512
 
	 
	         (a)(1)(B)
 	  	 513
 
	 
	         (a)(2)
 	  	 Not Applicable
 
	 
	         (b)
 	  	 508
 
	 
	         (c)
 	  	 513
 
	 
	 §317(a)(1)
 	  	 503
 
	 
	         (a)(2)
 	  	 504
 
	 
	         (b)
 	  	 1006
 
	 
	 §318(a)
 	  	 107
 

 

	 	

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

 

  
 TABLE OF CONTENTS 
  
 
 
 
	  	  	  	  	 Page
 

	 PARTIES
 	  	 1
 
	 RECITALS OF THE COMPANY
 	  	 1
 
	 RECITALS OF THE GUARANTOR
 	  	 1
 
	 
	 ARTICLE ONE
  
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
 	  	  
	 
	         SECTION 101.
 	  	 DEFINITIONS
 	  	 2
 
	  	  	 Act
 	  	 2
 
	  	  	 Affiliate
 	  	 2
 
	  	  	 Authenticating Agent
 	  	 2
 
	  	  	 Board of Directors
 	  	 2
 
	  	  	 Board Resolution
 	  	 3
 
	  	  	 Business Day
 	  	 3
 
	  	  	 Commission
 	  	 3
 
	  	  	 Company
 	  	 3
 
	  	  	 Company Request
 	  	 3
 
	  	  	 Company Order
 	  	 3
 
	  	  	 Corporate Trust Office
 	  	 3
 
	  	  	 corporation
 	  	 3
 
	  	  	 Defaulted Interest
 	  	 3
 
	  	  	 Depositary
 	  	 3
 
	  	  	 Event of Default
 	  	 3
 
	  	  	 Executive Officer’s Certificate
 	  	 4
 
	  	  	 Global Security
 	  	 4
 
	  	  	 Government Obligations
 	  	 4
 
	  	  	 Guarantee
 	  	 4
 
	  	  	 Guarantor
 	  	 4
 
	  	  	 Holder
 	  	 4
 
	  	  	 Indenture
 	  	 4
 
	  	  	 interest
 	  	 4
 
	  	  	 Interest Payment Date
 	  	 5
 
	  	  	 Maturity
 	  	 5
 
	  	  	 Officers’ Certificate
 	  	 5
 
	  	  	 Opinion of Counsel
 	  	 5
 
	  	  	 Original Issue Discount Security
 	  	 5
 
	  	  	 Outstanding
 	  	 5
 
	  	  	 Paying Agent
 	  	 6
 
	  	  	 Periodic Offering
 	  	 6
 
	  	  	 Person
 	  	 6
 
	  	  	 Place of Payment
 	  	 6
 
	  	  	 Redemption Date
 	  	 6
 

 
 

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

  
 
	  	  	 Redemption Price
 	  	 7
 
	  	  	 Regular Record Date
 	  	 7
 
	  	  	 Responsible Officer
 	  	 7
 
	  	  	 Securities
 	  	 7
 
	  	  	 Security Register
 	  	 7
 
	  	  	 Security Registrar
 	  	 7
 
	  	  	 Special Record Date
 	  	 7
 
	  	  	 Stated Maturity
 	  	 7
 
	  	  	 Subsidiary
 	  	 7
 
	  	  	 Trustee
 	  	 7
 
	  	  	 Trust Indenture Act
 	  	 7
 
	  	  	 United Kingdom
 	  	 8
 
	  	  	 Vice President
 	  	 8
 
	 SECTION 102.
 	  	 COMPLIANCE CERTIFICATES AND OPINIONS.
 	  	 8
 
	 SECTION 103.
 	  	 FORM OF DOCUMENTS DELIVERED TO
TRUSTEE.
 	  	 8
 
	 SECTION 104.
 	  	 ACTS OF HOLDERS.
 	  	 9
 
	 SECTION 105.
 	  	 NOTICES, ETC., TO TRUSTEE, COMPANY
AND GUARANTOR.
 	  	 10
 
	 SECTION 106.
 	  	 NOTICE TO HOLDERS; WAIVER.
 	  	 10
 
	 SECTION 107.
 	  	 CONFLICT WITH TRUST INDENTURE
ACT.
 	  	 11
 
	 SECTION 108.
 	  	 EFFECT OF HEADINGS AND TABLE
OF CONTENTS.
 	  	 11
 
	 SECTION 109.
 	  	 SUCCESSORS AND ASSIGNS.
 	  	 11
 
	 SECTION 110.
 	  	 SEPARABILITY CLAUSE.
 	  	 11
 
	 SECTION 111.
 	  	 BENEFITS OF INDENTURE.
 	  	 11
 
	 SECTION 112.
 	  	 GOVERNING LAW.
 	  	 11
 
	 SECTION 113.
 	  	 LEGAL HOLIDAYS.
 	  	 12
 
	 SECTION 114.
 	  	 SUBMISSION TO JURISDICTION.
 	  	 12
 
	 
	 ARTICLE TWO
  
 SECURITY FORMS
 	  	  
	 
	 SECTION 201.
 	  	 FORMS GENERALLY.
 	  	 13
 
	 SECTION 202.
 	  	 FORM OF FACE OF SECURITY.

	  	 14
 
	 SECTION 203.
 	  	 FORM OF REVERSE OF SECURITY.

	  	 18
 
	 SECTION 204.
 	  	 FORM OF TRUSTEE’S CERTIFICATE
OF AUTHENTICATION.
 	  	 22
 
	 SECTION 205.
 	  	 FORM OF GUARANTEE.
 	  	 22
 
	 SECTION 206.
 	  	 FORM OF LEGEND FOR GLOBAL
SECURITIES.
 	  	 25
 
	 
	 ARTICLE THREE
  
 THE SECURITIES
 	  	  
	 
	 SECTION 301.
 	  	 AMOUNT UNLIMITED; ISSUABLE IN
SERIES.
 	  	 26
 
	 SECTION 302.
 	  	 DENOMINATIONS.
 	  	 28
 
	 SECTION 303.
 	  	 EXECUTION, AUTHENTICATION, DELIVERY AND
DATING.
 	  	 29
 
	 SECTION 304.
 	  	 TEMPORARY SECURITIES.
 	  	 30
 

 

 
 ii 

 
	 SECTION 305.
 	  	 REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE.

	  	 31
 
	 SECTION 306.
 	  	 MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES.

	  	 33
 
	 SECTION 307.
 	  	 PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED.
 	  	 33
 
	 SECTION 308.
 	  	 PERSONS DEEMED OWNERS.
 	  	 35
 
	 SECTION 309.
 	  	 CANCELLATION.
 	  	 35
 
	 SECTION 310.
 	  	 COMPUTATION OF INTEREST.
 	  	 35
 
	  	  	  
 ARTICLE FOUR
  
 SATISFACTION AND DISCHARGE
  
 	  	  
	 
	 SECTION 401.
 	  	 SATISFACTION AND DISCHARGE OF INDENTURE.
 	  	 36
 
	 SECTION 402.
 	  	 APPLICATION OF TRUST MONEY.
 	  	 37
 
	 SECTION 403.
 	  	 DEFEASANCE UPON DEPOSIT OF MONEYS OR GOVERNMENT
OBLIGATIONS.
 	  	 37
 
	  	  	  
 ARTICLE FIVE
  
 REMEDIES
  
 	  	  
	 SECTION 501.
 	  	 EVENTS OF DEFAULT.
 	  	 39
 
	 SECTION 502.
 	  	 ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT.

	  	 41
 
	 SECTION 503.
 	  	 COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT
BY TRUSTEE.
 	  	 43
 
	 SECTION 504.
 	  	 TRUSTEE MAY FILE PROOFS OF CLAIM.
 	  	 44
 
	 SECTION 505.
 	  	 TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF
SECURITIES.
 	  	 45
 
	 SECTION 506.
 	  	 APPLICATION OF MONEY COLLECTED.
 	  	 45
 
	 SECTION 507.
 	  	 LIMITATION ON SUITS.
 	  	 45
 
	 SECTION 508.
 	  	 UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL,
PREMIUM AND INTEREST.
 	  	 46
 
	 SECTION 509.
 	  	 RESTORATION OF RIGHTS AND REMEDIES.
 	  	 46
 
	 SECTION 510.
 	  	 RIGHTS AND REMEDIES CUMULATIVE.
 	  	 46
 
	 SECTION 511.
 	  	 DELAY OR OMISSION NOT WAIVER.
 	  	 47
 
	 SECTION 512.
 	  	 CONTROL BY HOLDERS.
 	  	 47
 
	 SECTION 513.
 	  	 WAIVER OF PAST DEFAULTS.
 	  	 48
 
	 SECTION 514.
 	  	 UNDERTAKING FOR COSTS.
 	  	 48
 
	 SECTION 515.
 	  	 WAIVER OF STAY OR EXTENSION LAWS.
 	  	 49
 
	  	  	  
 ARTICLE SIX
  
 THE TRUSTEE
  
  
 	  	  
	 SECTION 601.
 	  	 CERTAIN DUTIES AND RESPONSIBILITIES.
 	  	 49
 

 

 
 iii 

 
	 SECTION 602.
 	  	 NOTICE OF DEFAULTS.
 	  	 49
 
	 SECTION 603.
 	  	 CERTAIN RIGHTS OF TRUSTEE.
 	  	 50
 
	 SECTION 604.
 	  	 NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF
SECURITIES.
 	  	 51
 
	 SECTION 605.
 	  	 MAY HOLD SECURITIES.
 	  	 51
 
	 SECTION 606.
 	  	 MONEY HELD IN TRUST.
 	  	 51
 
	 SECTION 607.
 	  	 COMPENSATION AND REIMBURSEMENT.
 	  	 51
 
	 SECTION 608.
 	  	 DISQUALIFICATION; CONFLICTING INTERESTS.
 	  	 52
 
	 SECTION 609.
 	  	 CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.
 	  	 52
 
	 SECTION 610.
 	  	 RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR.

	  	 52
 
	 SECTION 611.
 	  	 ACCEPTANCE OF APPOINTMENT BY SUCCESSOR.
 	  	 54
 
	 SECTION 612.
 	  	 MERGER, CONSOLIDATION OR SUCCESSION TO BUSINESS.
 	  	 55
 
	 SECTION 613.
 	  	 PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY.

	  	 55
 
	 SECTION 614.
 	  	 APPOINTMENT OF AUTHENTICATING AGENT.
 	  	 55
 
	  	  	  
 ARTICLE SEVEN
  
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE, COMPANY AND
 GUARANTOR
  
 	  	  
	 SECTION 701.
 	  	 COMPANY AND GUARANTOR TO FURNISH TRUSTEE NAMES
AND ADDRESSES OF HOLDERS.
 	  	 57
 
	 SECTION 702.
 	  	 PRESERVATION OF INFORMATION; COMMUNICATIONS TO
HOLDERS.
 	  	 57
 
	 SECTION 703.
 	  	 REPORTS BY TRUSTEE.
 	  	 58
 
	 SECTION 704.
 	  	 REPORTS BY COMPANY AND GUARANTOR.
 	  	 59
 
	  	  	  
 ARTICLE EIGHT
  
 CONSOLIDATION, AMALGAMATION, MERGER, CONVEYANCE,
 TRANSFER OR LEASE
  
 	  	  
	 SECTION 801.
 	  	 COMPANY OR GUARANTOR MAY CONSOLIDATE, ETC., ONLY
ON CERTAIN TERMS.
 	  	 60
 
	 SECTION 802.
 	  	 SUCCESSOR CORPORATION SUBSTITUTED.
 	  	 61
 
	  	  	  
 ARTICLE NINE
  
 SUPPLEMENTAL INDENTURES
  
 	  	  
	 SECTION 901.
 	  	 SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS.

	  	 61
 
	 SECTION 902.
 	  	 SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS.
 	  	 62
 
	 SECTION 903.
 	  	 EXECUTION OF SUPPLEMENTAL INDENTURES.
 	  	 64
 

 

 
 iv 

  
 
	 
	 SECTION 904.
 	  	 EFFECT OF SUPPLEMENTAL INDENTURES
 	  	 64
 
	 
	 SECTION 905.
 	  	 CONFORMITY WITH TRUST INDENTURE
ACT
 	  	 64
 
	 
	 SECTION 906.
 	  	 REFERENCE IN SECURITIES TO SUPPLEMENTAL
INDENTURES
 	  	 64
 
	 
	  	  	  
 ARTICLE TEN
  
 PARTICULAR COVENANTS OF COMPANY AND GUARANTOR
  
 	  	  
	 
	 SECTION 1001.
 	  	 PAYMENT OF PRINCIPAL, PREMIUM AND
INTEREST BY COMPANY
 	  	 65
 
	 
	 SECTION 1002.
 	  	 MAINTENANCE OF OFFICE OR AGENCY
BY COMPANY
 	  	 65
 
	 
	 SECTION 1003.
 	  	 RESERVED
 	  	 65
 
	 
	 SECTION 1004.
 	  	 RESERVED
 	  	 65
 
	 
	 SECTION 1005.
 	  	 MAINTENANCE OF OFFICE OR AGENCY
BY GUARANTOR
 	  	 65
 
	 
	 SECTION 1006.
 	  	 MONEY FOR SECURITIES PAYMENTS TO
BE HELD IN TRUST
 	  	 66
 
	 
	 SECTION 1007.
 	  	 CORPORATE EXISTENCE
 	  	 67
 
	 
	 SECTION 1008.
 	  	 STATEMENT BY EXECUTIVE OFFICERS AS
TO COMPLIANCE
 	  	 67
 
	 
	 SECTION 1009.
 	  	 WAIVER OF CERTAIN COVENANTS
 	  	 67
 
	 
	 SECTION 1010.
 	  	 ADDITIONAL AMOUNTS
 	  	 68
 
	 
	  	  	  
 ARTICLE ELEVEN
  
 REDEMPTION OF SECURITIES
  
 	  	  
	 
	 SECTION 1101.
 	  	 APPLICABILITY OF ARTICLE
 	  	 71
 
	 
	 SECTION 1102.
 	  	 ELECTION TO REDEEM; NOTICE TO
TRUSTEE
 	  	 71
 
	 
	 SECTION 1103.
 	  	 SELECTION BY TRUSTEE OF SECURITIES
TO BE REDEEMED
 	  	 71
 
	 
	 SECTION 1104.
 	  	 NOTICE OF REDEMPTION
 	  	 72
 
	 
	 SECTION 1105.
 	  	 DEPOSIT OF REDEMPTION PRICE
 	  	 72
 
	 
	 SECTION 1106.
 	  	 SECURITIES PAYABLE ON REDEMPTION
DATE
 	  	 73
 
	 
	 SECTION 1107.
 	  	 SECURITIES REDEEMED IN PART
 	  	 73
 
	 
	 SECTION 1108.
 	  	 OPTIONAL REDEMPTION DUE TO CHANGES
IN TAX TREATMENT
 	  	 73
 
	 
	  	  	  
 ARTICLE TWELVE
  
 SINKING FUNDS
  
 	  	  
	 
	 SECTION 1201.
 	  	 APPLICABILITY OF ARTICLE
 	  	 74
 
	 
	 SECTION 1202.
 	  	 SATISFACTION OF SINKING FUND PAYMENTS
WITH SECURITIES
 	  	 74
 
	 
	 SeCTION 1203.
 	  	 REDEMPTION OF SECURITIES FOR SINKING
FUND
 	  	 75
 

 

 
 v 

  
 
	 
	  	  	 ARTICLE THIRTEEN
  
 GUARANTEES
  
 	  	  
	 
	 SECTION 1301.
 	  	 GUARANTEE
 	  	 75
 
	 
	 SECTION 1302.
 	  	 SUBROGATION
 	  	 76
 
	 
	 SECTION 1303.
 	  	 EXECUTION AND DELIVERY OF
GUARANTEES
 	  	 76
 

 
  
 
	 
	 TESTIMONIUM
 	  	 77
 
	 
	 SIGNATURES
 	  	 77
 
	 
	 ACKNOWLEDGMENTS
 	  	 77
 

 
  
 THIS INDENTURE is dated as of September 27, 2002, among BP Canada
Finance Company, a corporation duly organized and existing under the laws of Nova Scotia (herein called the “Company”), having its principal office at 240 – 4th Avenue S.W., Calgary, Alberta, Canada, T2P 4H4, and BP p.l.c., a
corporation duly organized and existing under the laws of England (herein called the “Guarantor”), having its principal office at 1 St James’s Square, London SW1Y 4PD, England, and JPMorgan Chase Bank, a corporation duly organized and
existing under the laws of the State of New York, as Trustee (herein called the “Trustee”) having its Corporate Trust Office at 450 West 33rd Street, New York, New York 10001. 
  
 RECITALS OF THE COMPANY 
  
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured debentures, notes or other evidences of indebtedness (herein
called the “Securities”), to be issued in one or more series as in this Indenture provided. 
  
 All things
necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
  
 RECITALS OF THE GUARANTOR 
  
 The
Guarantor desires to make the Guarantees provided for herein. 
  
 All things necessary to make this Indenture a valid
agreement of the Guarantor, in accordance with its terms, have been done. 
  
 NOW,
THEREFORE, THIS INDENTURE WITNESSETH: 

 
 vi 

  
 For and in consideration of the premises and the purchase of the Securities by
the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 
  
 ARTICLE ONE 
  
 DEFINITIONS AND
OTHER PROVISIONS 
 OF GENERAL APPLICATION 
  
 Section 101.  Definitions. 
  
 For all purposes of this indenture, except as otherwise expressly provided or unless the context otherwise requires: 
  
 (1)    the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular; 
  
 (2)    all other terms used herein which are defined in the Trust Indenture Act, either directly or by
reference therein, have the meanings assigned to them therein; 
  
 (3)    all
accounting terms not otherwise defined herein have the meanings assigned to them in accordance with accounting principles generally accepted, in the case of the Company, in Canada and, in the case of the Guarantor, in the United Kingdom; and

  
 (4)    the words “herein”, “hereof” and
“hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
  
 Certain terms, used principally in Article Six, are defined in that Article. 
  
 “Act”, when used with respect to any Holder, has the meaning specified in Section 104. 
  
 “Affiliate” of any specified Person means any other Person indirectly controlling or controlled by or under direct or common control with such specified Person. For the purposes of this definition, “control” when
used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms
“controlling” and “controlled” have meanings correlative to the foregoing. 
  
 “Authenticating Agent” means any Person authorized by the Trustee to act on behalf of the Trustee to authenticate Securities. 
  
 “Board of Directors”, when used with reference to the Company or the Guarantor, means either the board of directors, or any committee of such board authorized to act for it hereunder, of the
Company or of the Guarantor, as the case may be. 

 
 2 

  
 “Board Resolution”, when used with reference to the Company or the
Guarantor, means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company or by the Secretary, a Deputy Secretary, an Assistant Secretary or a Deputy Assistant Secretary of the Guarantor, as the case may be, to have
been duly adopted by its Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
  
 “Business Day”, when used with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking or trust institutions in that
Place of Payment are authorized generally or obligated by law, regulation or executive order to close. 
  
 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and
performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 
  
 “Company” means the Person named as the “Company” in the first paragraph of this instrument until a successor corporation shall have become such pursuant to the applicable provisions of this Indenture, and
thereafter “Company” shall mean such successor corporation. 
  
 “Company Request” or
“Company Order” means a written request or order signed in the name of the Company or of the Guarantor, in the case of the Company, by a Director or a senior officer, or, in the case of the Guarantor, by one of its Directors or any other
Person duly authorized thereto by Board Resolution and by the Secretary, a Deputy Secretary, an Assistant Secretary or a Deputy Assistant Secretary, and delivered to the Trustee. 
  
 “Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business shall be principally administered, which
office at the date hereof is located at 450 West 33rd Street, New York, New York 10001. 
  
 “corporation”
means a corporation, association, company, limited liability company or business trust. 
  
 “Defaulted
Interest” has the meaning specified in Section 307. 
  
 “Depositary” means, with respect to the
Securities of any series issuable or issued in whole or in part in the form of one or more Global Securities, the clearing agency registered under the Exchange Act, as amended, specified for that purpose as contemplated by Section 301. 

 
 “Event of Default” has the meaning specified in Section 501. 
  

“Exchange Act” means the Securities Exchange Act of 1934 and any successor statute, in each case as amended from time to time. 

 
 3 

  
 “Executive Officer’s Certificate” means a certificate signed by
the principal executive officer, principal financial officer or principal accounting officer of the Company or the Guarantor, as the case may be. 
  
 “Global Security” means a Security bearing the legend required by Section 206 evidencing all or part of a series of Securities, issued to the Depositary for such series or its nominee and
registered in the name of the Depositary or its nominee. 
  
 “Government Obligations” means securities that
are (i) direct obligations of the United States of America or any foreign government of a sovereign state for the payment of which its full faith and credit is pledged or (ii) obligations of an entity controlled or supervised by and acting as an
agency or instrumentality of the United States of America or such foreign government the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America or such foreign government, as the case may
be, which, in either case under clauses (i) or (ii) are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such Government
Obligation or a specific payment of interest on or principal of any such Government Obligation held by such custodian for the account of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized
to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Obligation or the specific payment of interest on or principal of the Government Obligation
evidenced by such depository receipt. 
  
 “Guarantee” means any guarantee of the Guarantor endorsed on a
Security authenticated and delivered pursuant to this Indenture and shall include the guarantee set forth in Section 1301. 
  
 “Guarantor” means the Person named as the “Guarantor” in the first paragraph of this Indenture until a successor corporation shall have become such pursuant to the applicable provisions of this Indenture, and
thereafter “Guarantor” shall mean such successor corporation. 
  
 “Holder” means a Person in
whose name a Security is registered in the Security Register. 
  
 “Indenture” means this instrument as
originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof including, for all purposes of this instrument and any such
supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental indenture, respectively, and shall include the terms of particular series of Securities
established as contemplated by Section 301. 
  
 “interest”, when used with respect to an Original Issue
Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 

 
 4 

  
 “Interest Payment Date”, when used with respect to any Security, means
the Stated Maturity of an installment of interest on such Security. 
  
 “Maturity”, when used with respect
to any Security, means the date on which the principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or
otherwise. 
  
 “Officers’ Certificate” means a certificate signed, in the case of the Company, by a
Director or a senior officer, or, in the case of the Guarantor, by one of its Directors or any other Person duly authorized thereto by Board Resolution and by the Secretary, a Deputy Secretary, an Assistant Secretary or a Deputy Assistant Secretary,
and delivered to the Trustee. Each such Officers’ Certificate shall contain the statements required by Section 314(e) of the Trust Indenture Act if applicable. 
  
 “Opinion of Counsel” means a written opinion of counsel, who may be an employee of or counsel to the Company or the Guarantor. Each such opinion shall include the
statements required by Section 314(e) of the Trust Indenture Act, if applicable. 
  
 “Original Issue Discount
Security” means any Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 
  
 “Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
  
 (i)    Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 
  
 (ii)    Securities for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company or the
Guarantor) in trust or set aside and segregated in trust by the Company or the Guarantor (if the Company or the Guarantor shall act as Paying Agent) for the Holders of such Securities; provided however, that, if such Securities are to
be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; and 
  
 (iii)    Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been
authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands
such Securities are valid obligations of the Company; 

 
 5 

  
 provided, however, that in determining whether the Holders of the requisite principal
amount of the Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, (A) the principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding shall be the
amount of the principal thereof that would be due and payable as of the date of such determination upon acceleration of the Maturity thereof pursuant to Section 502, (B) if, as of such date, the principal amount payable at the Stated Maturity of a
Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by Section 301 (C) the principal amount of a Security denominated in one or
more foreign currencies or currency units shall be the U.S. dollar equivalent, determined in the manner provided as contemplated by Section 301 on the date of original issuance of such Security of the principal amount (or, in the case of a Security
described in clause (A) or (B) above, the amount determined pursuant to such Clause) of such Security and (D) Securities owned by the Company, the Guarantor or any other obligor upon the Securities or any Affiliate of the Company or the Guarantor or
of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only
Securities which the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s
right so to act with respect to such Securities and that the pledgee is not the Company, the Guarantor or any other obligor upon the Securities or any Affiliate of the Company, the Guarantor or of such other obligor. 
  
 “Paying Agent” means any Person (which may include the Company or the Guarantor) authorized by the Company to pay the principal
of (and premium, if any) or interest on any Securities on behalf of the Company. 
  
 “Periodic Offering”
means an offering of Securities of a series from time to time the specific terms of which Securities, including, without limitation, the rate or rates of interest thereon, if any, the Stated Maturity or Maturities thereof and the redemption
provisions, if any, with respect thereto, are to be determined by the Company upon the issuance of such Securities. 
  
 “Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision
thereof. 
  
 “Place of Payment”, when used with respect to the Securities of any series, means the place or
places where the principal of (and premium, if any) and interest on the Securities of that series are payable as specified as contemplated by Section 301. 
  
 “Redemption Date”, when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 

 
 6 

  
 “Redemption Price”, when used with respect to any Security to be
redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 
  
 “Regular Record
Date” for the interest payable on any Interest Payment Date on the Securities of any series means the date specified for that purpose as contemplated by Section 301. 
  
 “Responsible Officer”, when used with respect to the Trustee, means the Chairman or any Vice-Chairman of the board of directors, the Chairman or any Vice-Chairman
of the executive committee of the board of directors, the Chairman of the trust committee, the President, any Vice President or any Corporate Trust Officer of the Trustee. 
  
 “Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities that have been issued, authenticated and
delivered under this Indenture. 
  
 “Security Register” and “Security Registrar” have the
respective meanings specified in Section 305. 
  
 “Special Record Date” for the payment of any Defaulted
Interest means a date fixed by the Trustee pursuant to Section 307. 
  
 “Stated Maturity”, when used with
respect to any Security or any installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable.

  
 “Subsidiary” means any corporation of which at least a majority of the outstanding stock or equity
interest having by the terms thereof ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether or not at the time stock of any other class or classes of such corporation shall have or might have
voting power by reason of the happening of any contingency) is at the time directly or indirectly owned or controlled by the Guarantor or by one or more Subsidiaries, or by the Guarantor and one or more Subsidiaries. 
  
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee
shall have become such pursuant to the applicable previsions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is than a Trustee hereunder, and if at any time there is more than one such Person,
“Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series, provided that the Trustee shall not be the Company, the Guarantor or any other obligor upon the Securities or
any Affiliate of the Company, the Guarantor or of such other obligor. 
  
 “Trust Indenture Act” means the
Trust Indenture Act of 1939, as amended by the Trust Indenture Reform Act of 1990, and as in force at the date as of which this instrument was executed, and as amended thereafter from tine to time. 

 
 7 

  
   “United Kingdom” means the United Kingdom of Great Britain
and Northern Ireland. 
  
   “Vice President”, when used with respect to the Trustee, means any
vice president, whether or not designated by a number or a word or words added before or after the title “vice president”. 
  
 Section 102.  Compliance Certificates and Opinions. 
  
   Upon any
application or request by the Company or the Guarantor to the Trustee to take any action under any provision of this Indenture, the Company or the Guarantor shall furnish to the Trustee such certificates and opinions as may be required under the
Trust Indenture Act. Each such certificate or opinion shall be given in the form of an Officers’ Certificate or an Opinion of Counsel and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this
Indenture. Such an Officers’ Certificate shall state that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and such Opinion of Counsel shall state that in the opinion of
such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any other provision of this Indenture
relating to such particular application or request, no additional certificate or opinion need be furnished. 
  
   Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than the certificate provided under Section 1008) hereof shall include 
  
   (1)     a statement that each individual signing such certificate or opinion has read such
covenant or condition and the definitions herein relating thereto; 
  
   (2)
    a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
  

  (3)     a statement that, in the opinion of each such individual, he has made such examination or investigation as is
necessary to enable him to express an informed opinion as to whether or not such covenants or condition has been complied with; and 
  
   (4)     a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
  
 Section  103.   Form of Documents Delivered to Trustee. 
  
   In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters
be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to 

 
 8 

  
 some matters and one or more other such Persons as to other matters, and any such Person may certify or
give an opinion as to such matters in one or several documents. 
  
 Any certificate or opinion of an officer of the
Company or the Guarantor may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or
opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of,
or representations by, an officer or officers of the Company or the Guarantor, as the case may be, stating that the information with respect to such factual matters is in the possession of the Company or the Guarantor, as the case may be, unless
such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 
  
 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this
Indenture, they may, but need not, be consolidated and form one instrument. 
  
 Section 104.   Acts of Holders.

  
 (a)    Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing; and, except as herein
otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company and the Guarantor. Such instrument or instruments (and the
action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instrument. Proof of execution of any such instrument or of a writing appointing any such agent shall be
sufficient for any purpose of this Indenture and (subject to Section 601) conclusive in favor of the Trustee, the Company and the Guarantor if made in the manner provided in this Section. 
  
 (b)    The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution
or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by a
signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of the
Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 
  
 (c)    The ownership of Securities shall be proved by the Security Register. 

 
 9 

  
 (d)    Any request, demand, authorization, direction, notice,
consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of
anything done, omitted or suffered to be done by the Trustee, the Company or the Guarantor in reliance thereon, whether or not notation of such action is made upon such Security. 
  
 (e)    Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with
regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any part of such principal amount. 
  
 Section 105.  Notices, Etc., to Trustee, Company and Guarantor. 
  
 Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or
furnished to, or filed with, 
  
 (1)     the Trustee by any Holder or by the
Company or by the Guarantor shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, Attention: Institutional Trust Services, or 
  
 (2)     the Company or the Guarantor by the Trustee or by any Holder shall be sufficient for every
purpose hereunder (unless otherwise herein expressly provided) if made, given, furnished or filed in writing, in the case of the Company, to or with it at the address of its principal office specified in the first paragraph of this instrument,
Attention: Secretary, or at any other address previously furnished in writing to the Trustee by the Company, with a copy to the Guarantor, and in the case of the Guarantor, to or with it at the address of its office specified in the first paragraph
of this instrument, Attention: Manager, Capital Markets, or at any other address previously furnished in writing to the Trustee by the Guarantor, with a copy to the Company. 
  
 Section 106.  Notice to Holders; Waiver. 
  
 Where
this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his
address as it appears in the Security Register, not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the
failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be
waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such 

 
 10 

  
 notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a
condition precedent to the validity of any action taken in reliance upon such waiver. 
  
 In case by reason of the
suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every
purpose hereunder. 
  
 Section 107.  Conflict with Trust Indenture Act. 
  
 If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under such Act to be a
part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to
apply to this Indenture as so modified or to be excluded, as the case may be. 
  
 Section 108.  Effect of Headings and Table of
Contents. 
  
 The Article and Section headings herein, the Reconciliation and tie between the Trust Indenture Act
and this Indenture and the Table of Contents are for convenience only and shall not affect the construction hereof. 
  
 Section
109.  Successors and Assigns. 
  
 All covenants and agreements in this Indenture by the Company or
the Guarantor shall bind its successors and assigns, whether so expressed or not. 
  
 Section 110.  Separability Clause.

  
 In case any provision in this Indenture or in the Securities or in the Guarantees shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
  
 Section 111.  Benefits of Indenture. 
  
 Nothing in this Indenture or in the
Securities or in the Guarantees, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture.

  
 Section 112.  Governing Law. 
  
 This Indenture, the Securities and the Guarantees shall be governed by and construed in accordance with the laws of the State of New York, except that the authorization and execution of this Indenture,
the Securities and the Guarantees shall be 

 
 11 

  
 governed by the laws of the respective jurisdictions of organization of the Company and the Guarantor.

  
 Section 113.  Legal Holidays. 
  
 In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this
Indenture or of the Securities (other than a provision of the Securities of any series which specifically states that such provision shall apply in lieu of this Section)) payment of interest or principal (and premium, if any) need not be made at
such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, provided that no
interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be. 
  
 Section 114.  Submission to Jurisdiction. 
  
 The Company agrees that any
legal suit, action or proceeding arising out of or based upon the Indenture or the Securities may be instituted in any state or Federal court in the Borough of Manhattan, The City of New York, New York, United States of America, waives, to the
extent it may effectively do so, any objection which it may have now or hereafter to the laying of the venue of any such suit, action or proceeding, and irrevocably submits to the jurisdiction of any such court in any such suit, action or
proceeding. The Company has designated and appointed BP America Inc. (or any successor corporation) as the Company’s authorized agent to accept and acknowledge on its behalf service of any and all process which may be served in any such suit,
action or proceeding in any such court and agrees that service of process upon said agent at its office at 667 Madison Avenue, 22nd Floor, New York, New York 10021, attention of the General Counsel (or at such other address in the Borough of
Manhattan, The City of New York, as the Company may designate by written notice to the Guarantor and the Trustee), and written notice of said service to the Company, mailed or delivered to it, at 240 – 4th Avenue S.W., Calgary, Alberta, Canada
T2P 4H4, Attention: Secretary (until another address is filed by the Company with the Trustee), shall be deemed in every respect effective service of process upon the Company in any such suit, action or proceeding and shall be taken and held to be
valid personal service upon the Company, whether or not the Company shall then be doing, or at any time shall have done, business within the State of New York, and any such service of process shall be of the same force and validity as if service
were made upon it according to the laws governing the validity and requirements of such service in such State, and waives all claim of error by reason of any such service. Said designation and appointment shall be irrevocable until the Indenture
shall have been satisfied and discharged in accordance with Article Four. The Company agrees to take all action as may be necessary to continue the designation and appointment of BP America Inc. or any successor corporation in full force and effect
so that the Company shall at all times have an agent for service of process for the above purposes in the Borough of Manhattan, The City of New York, New York, United States of America. 

 
 12 

  
 The Guarantor agrees that any legal suit, action or proceeding arising out of or
based upon the Indenture or the Guarantees may be instituted in any state or Federal court in the Borough of Manhattan, The City of New York, New York, United States of America, waives, to the extent it may effectively do so, any objection which it
may have now or hereafter to the laying of the venue of any such suit, action or proceeding, and irrevocably submits to the jurisdiction of any such court in any such suit, action or proceeding. The Guarantor has designated and appointed BP America
Inc. (or any successor corporation) as the Guarantor’s authorized agent to accept and acknowledge on its behalf service of any and all process which may be served in any such suit, action or proceeding in any such court and agrees that service
of process upon said agent at its office at 667 Madison Avenue, 22nd Floor, New York, New York 10021, attention of the General Counsel (or at such other address in the Borough of Manhattan, The City of New York, as the Guarantor may designate by
written notice to the Company and the Trustee), and written notice of said service to the Guarantor, mailed or delivered to it, at Britannic House, 1 St. James’s Square, London SW1Y 4PD, England, attention of the Secretary (until another
address is filed by the Guarantor with the Trustee), shall be deemed in every respect effective service of process upon the Guarantor in any such suit, action or proceeding and shall be taken and held to be valid personal service upon the Guarantor,
whether or not the Guarantor shall then be doing, or at any time shall have done, business within the State of New York, and any such service of process shall be of the same force and validity as if service were made upon it according to the laws
governing the validity and requirements of such service in such State, and waives all claim of error by reason of any such service. Said designation and appointment shall be irrevocable until the Indenture shall have been satisfied and discharged in
accordance with Article Four. The Guarantor agrees to take all action as may be necessary to continue the designation and appointment of BP America Inc. or any successor corporation in full force and effect so that the Guarantor shall at all times
have an agent for service of process for the above purposes in the Borough of Manhattan, The City of New York, New York, United States of America. 
  
 ARTICLE TWO 
  
 SECURITY FORMS 
  
 Section 201.  Forms Generally. 
  
 The Securities of each series shall be in substantially the form set forth in this Article, or in such other form as shall be established by or pursuant to a Board Resolution of the Company or in one or more indentures
supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of the Securities. If the
form of Securities of any series is established by action taken 

 
 13 

 pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the Secretary or an
Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such Securities. 
  
 The Guarantees to be endorsed on the Securities of each series shall be in substantially the form set forth in Section 205, or in such
other form as shall be established by or pursuant to a Board Resolution of the Guarantor or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other corrections as are required
or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently
herewith, be determined by the person duly authorized thereto executing such Guarantees, all as evidenced by such execution. If the form of Guarantees to be endorsed on the Securities of any series is established by action taken pursuant to a Board
Resolution of the Guarantor, a copy of an appropriate record of such action shall be certified by the Secretary, a Deputy Secretary, an Assistant Secretary or a Deputy Assistant Secretary of the Guarantor and delivered to the Trustee at or prior to
the delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such Securities. 
  
 The Trustee’s certificates of authentication shall be in substantially the form set forth in this Article. 
  
 The definitive Securities and Guarantees shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their
execution of such Securities. 
  

	Section
	 
	202.  Form of Face of Security. 
 

  
 [Insert any required Canadian selling restriction and/or taxation legend.] 
  
 BP CANADA FINANCE COMPANY 
  
 [.....%] GUARANTEED
[ZERO COUPON] [NOTE] [DEBENTURE] DUE..... 
  
 
	 No. ..........................
 	 	 $..........................
 

 
  
 BP CANADA FINANCE
COMPANY, a corporation duly organized and existing under the laws of Nova Scotia (herein called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received,
hereby promises to pay to ..........................., or registered assigns, the principal sum of .......................... [Dollars] on ...................................... [If the Security is to bear interest prior to Maturity, insert
—, and to pay interest thereon from or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on ............................................. and ......................... in each year,
commencing ................................, at the rate of ...................% per annum, until 

 
 14 

 the principal hereof is paid or made available for payment [If applicable insert —, and (to the extent that the payment of such
interest shall be legally enforceable) at the rate of ..........% per annum on any overdue principal and premium and on any overdue installment of interest]. The interest so payable, and punctually paid or duly provided for, on any Interest Payment
Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the
............... or ................. (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 will forthwith cease to be payable to the Holder on
such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture]. 
  
 If any deduction or withholding for any present or future taxes, assessments or other governmental charges of the jurisdiction (or any political subdivision or taxing
authority thereof or therein) in which the Company is incorporated, shall at any time be required by such jurisdiction (or any such political subdivision or taxing authority) in respect of any amounts to be paid by the Company of principal of or
interest on a Security of any series, then the Company will pay to the Holder of a Security of such series such additional amounts as may be necessary in order that the net amounts paid to such Holder of such Security who, with respect to any such
tax, assessment or other governmental charge, is not resident in such jurisdiction, after such deduction or withholding, shall be not less than the amounts specified in such Security to which such Holder is entitled; provided, however, that
the Company shall not be required to make any payment of additional amounts (1) for or on account of any such tax, assessment or governmental charge imposed by the United States or any political subdivision or taxing authority thereof or therein or
(2) for or on account of: 
  
 (a)    any tax, assessment or other governmental charge which would
not have been imposed but for (i) the existence of any present or former connection between such Holder (or between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder, if such Holder is an estate,
trust, partnership or corporation) and the taxing jurisdiction or any political subdivision or territory or possession thereof or area subject to its jurisdiction, including, without limitation, such Holder (or such fiduciary, settlor, beneficiary,
member, shareholder or possessor) being or having been a citizen or resident thereof or being or having been present or engaged in trade or business therein or having or having had a permanent establishment therein or (ii) the presentation of a
Security of such series (where presentation is required) for payment on a date more than 30 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later;

 
 15 

  
 (b)    any estate, inheritance, gift, sale, transfer,
personal property or similar tax, assessment or other governmental charge; 
  
 (c)    any tax,
assessment or other governmental charge which is payable otherwise than by withholding from payments of (or in respect of) principal of, or any interest on, the Securities of such series; 
  
 (d)    any tax, assessment or other governmental charge that is imposed or withheld by reason of the failure by the Holder or the beneficial owner of
the Security of such series (i) to provide information concerning the nationality, residence or identity of the Holder or such beneficial owner or (ii) to make any declaration or other similar claim or satisfy any information or reporting
requirements, which, in the case of (i) or (ii), is required or imposed by a statute, treaty, regulation or administrative practice of the taxing jurisdiction as a precondition to exemption from all or part of such tax, assessment or other
governmental charge; 
  
 (e)    any tax, assessment or other governmental charge which such
Holder would have been able to avoid by presenting such Security to another Paying Agent; 
  
 (f)    any tax, assessment or other governmental charge which is imposed on a payment pursuant to any European Union Directive on the taxation of savings implementing the conclusions of the ECOFIN Council meeting
of November 26 and 27, 2000, or any law implementing such directive; 
  
 (g)    any tax,
assessment or other governmental charge which is required to be withheld or deducted by reason of such Holder being a Person with whom the Company or the Guarantor is not dealing at arm’s length (within the meaning of the Income Tax Act
(Canada)); 
  
 (h)    any tax, assessment or other governmental charge which would not have been
imposed but for the failure of such Holder to comply with any requirement under relevant income tax treaties or Canadian statutes and regulations (or any administrative practice in Canada) to claim or establish entitlement to exemption from or
reduction of such taxes or duties; or 
  
 (i)    any combination of items (a), (b), (c), (d),
(e), (f), (g) and (h) above; nor shall additional amounts be paid with respect to any payment of the principal of, or any interest on, any Security of such series to any Holder who is a fiduciary or partnership or other than the sole beneficial
owner of such payment to the extent such payment would be required by the laws of the jurisdiction (or any political subdivision or taxing authority thereof or therein) to be included in the income for tax purposes of a beneficiary or settlor with
respect to such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to such additional amounts had it been the Holder of such Security. 
  
 The foregoing provisions shall apply mutatis mutandis to any withholding or deduction for or on account of any present or future taxes, assessments or governmental

 
 16 

 charges of whatever nature of any jurisdiction in which any successor Person to the Company is organized, or any political subdivision or taxing
authority thereof or therein. 
  
 [If the Security is not to bear interest prior to Maturity, insert —
The principal of this Security shall not bear interest except in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal of this Security shall bear interest at
the rate of ........% per annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of such default in payment to the date payment of such principal has been made or duly provided for.
Interest on any overdue principal shall be payable on demand. Any such interest on any overdue principal that is not so paid on demand shall bear interest at the rate of ........% per annum (to the extent that the payment of such interest shall be
legally enforceable), which shall accrue from the date of such demand for payment to the date payment of such interest has been made or duly provided for, and such interest shall also be payable on demand.] 
  
 Payment of the principal of (and premium, if any) and [if applicable, insert — any such] interest on this Security will be
made at the office or agency of the Company maintained for that purpose in .................., [in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts] [specify
other currency] [if applicable, insert —; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in
the Security Register]. 
  
 Reference is hereby made to the further provisions of this Security set forth on the
reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
  
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory
for any purpose. 
  
 IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed. 
  
 Dated: 
  
 BP CANADA FINANCE COMPANY 
  
 By................................................................... 

 
 17 

  

	Section
	 
	203.  Form of Reverse of Security. 
 

  
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of
September 27, 2002 (herein called the “Indenture”), among the Company, as Issuer, BP p.l.c., as Guarantor (herein called the “Guarantor”), and JPMorgan Chase Bank, as Trustee (herein called the “Trustee”, which term
includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitation of rights, duties and immunities thereunder of the Company,
the Guarantor, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof [, limited in aggregate
principal amount to [$]..............]. 
  
 [If applicable, insert — The Securities of this series are
subject to redemption upon not less than 30 days’ notice by mail, [if applicable, insert — (1) on ................ in any year commencing with the year .................. and ending with the year ................ through operation
of the sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2)] at any time [on or after .................., 20........], as a whole or in part, at the election of the Company, at the following Redemption
Prices (expressed as percentages of the principal amount): If redeemed [on or before ..............., ..... %, and if redeemed] during the 12-month period beginning ............................ of the years indicated, 
  
 
	 Year
 
	 	 Redemption Price
 
	 	 Year
 
	  	 Redemption Price
 

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

  
 [If applicable insert — The Securities of this series are subject to redemption upon not less than 30
days’ notice by mail, (1) on .......... in any year commencing with the year ........ and ending with the year ......... through operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the
sinking fund (expressed as percentages of the principal amount) set forth in the table below, and (2) at any time [on or after ............................. ], as a whole or in part, at the election of the 

 
 18 

 Company, at the Redemption Prices for redemption otherwise than through operation of the sinking fund (expressed as percentages of the principal
amount) set forth in the table below: If redeemed during the 12-month period beginning ............. of the years indicated, 
  
 
	 Year
 
	 	 Redemption Price
 For
Redemption
 Through Operation
 of the Sinking
Fund
 
	 	 Redemption Price For
 Redemption
Otherwise
 Than Through Operation
 of the Sinking
Fund
 

 
  
 and thereafter at a Redemption Price equal to .........% of the principal amount, together
in the case of any such redemption (whether through operation of the sinking fund or otherwise) with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to
the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.] 
  
 [Notwithstanding the foregoing, the Company may not, prior to ..............., redeem any Securities of this series as contemplated by
[Clause (2) of] the preceding paragraph as a part of, or in anticipation of, any refunding operation by the application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally
accepted financial practice) of less than .............% per annum.] 
  
 [The sinking fund for this series provides
for the redemption on .................. in each year beginning with the year .......... and ending with the year ............. of [not less than] [$] ................ [(“mandatory sinking fund”) and not more than [$]...................]
aggregate principal amount of Securities of this series. [Securities of this series acquired or redeemed by the Company otherwise than through [mandatory] sinking fund payments may be credited against subsequent [mandatory] sinking fund payments
otherwise required to be made — in the inverse order in which they become due.] 
  
 In the event of redemption
of this Security in part only, a new Security or Securities of this series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
  
 [If the Security is not subject to redemption, — This Security is not redeemable prior to Stated Maturity[, except pursuant to Section 1108 of the Indenture.
The date specified for the Securities of this series, for the purposes of said Section 1108, is ............] .] 

 
 19 

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

 
 [If the Security is an Original Issue Discount Security, — If an Event of Default with respect to Securities of
this series shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall be equal to — insert formula
for determining the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal and overdue interest (in each case to the extent that the payment of such interest shall be legally
enforceable), all of the Company’s obligations in respect of the payment of the principal of and interest, if any, on the Securities of this series shall terminate.] 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the
Guarantor and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company, the Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of the Securities
at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of
all Securities of such series, to waive compliance by the Company or the Guarantor, or both, with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of
this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Security. 
  
 As provided in and subject to the provisions of the Indenture, the
Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee
written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the
Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at
the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted
by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed or provided for herein. 
  
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and

 
 20 

 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 any place where the principal of (and premium, if any) and interest on this
Security are payable, 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 his attorney duly authorized in writing, and thereupon
one or more new Securities of this series, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
  
 The Securities of this series are issuable only in registered form without coupons in denominations of [$] ........... and any integral multiple thereof. As provided in the
Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series of a different authorized denomination, as requested by the Holder
surrendering the same. 
  
 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
  
 Prior to due presentment of this Security for registration of transfer, the Company, the Guarantor, the Trustee and any agent of the Company, the Guarantor or the Trustee may treat the Person in whose name this Security is registered
as the owner hereof for all purposes (subject to Section 307 of the Indenture), whether or not this Security be overdue, and neither the Company, the Guarantor, the Trustee nor any such agent shall be affected by notice to the contrary.

  
 The Indenture provides that the Company and the Guarantor, at the Guarantor’s option, (a) will be discharged
from any and all obligations in respect of the Securities (except for certain obligations to register the transfer or exchange of Securities, replace stolen, lost or mutilated Securities, maintain paying agencies and hold moneys for payment in
trust) or (b) need not comply with certain restrictive covenants of the Indenture, in each case if the Company or the Guarantor deposits, in trust, with the Trustee money or Government Obligations which through the payment of interest thereon and
principal thereof in accordance with their terms will provide money, in an amount sufficient to pay all the principal (including any mandatory sinking fund payments) of, and (premium, if any) and interest on, the Securities on the dates such
payments are due in accordance with the terms of such Securities and Guarantees, and certain other conditions are satisfied. 
  
 [If applicable insert— Except in the limited circumstances described in Section 305 of the Indenture, the Securities of this series shall be issued in the form of one or more Global Securities ................. and shall
be the Depositary for such Global Security or 

 
 21 

 Securities.] All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

  

	Section
	 
	204.  Form of Trustee’s Certificate of Authentication. 
 

  
 This is one of the Securities of the series designated herein referred to in the within-mentioned Indenture. 
  
 
	 JPMorgan Chase Bank,
 as
Trustee
 
	 
	 By..........................................................................
 
	 Authorized Officer
 

 
  

	Section
	 
	205.  Form of Guarantee 
 

  
 Guarantees to be endorsed on the Securities shall, subject to Section 201, be in substantially the form set forth below; words enclosed in brackets shall be inserted if applicable: 

 
 GUARANTEE OF BP p.l.c. 
  
 For value received, BP p.l.c., a corporation duly organized and existing under the laws of England (herein called the “Guarantor”, which term includes any
successor corporation under the Indenture referred to in the Security upon which this Guarantee is endorsed), hereby unconditionally guarantees to the Holder of the Security upon which this Guarantee is endorsed and to the Trustee referred to in
such Indenture due and prompt payment of the principal of (and premium, if any) and interest on such Security [and the due and prompt payment of the sinking fund payments provided for therein,] when and as the same shall become due and payable,
whether at the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, according to the terms thereof and of the Indenture referred to therein. In case of the failure of BP CANADA FINANCE
COMPANY, a corporation duly organized and existing under the laws of Nova Scotia (herein called the “Company”, which term includes any successor corporation under such Indenture) punctually to make any such principal,
premium, [or] interest [or sinking fund] payment, the Guarantor hereby agrees to cause any such payment to be made promptly when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for
redemption or otherwise, and as if such payment were made by the Company. 
  
 The Guarantor hereby further agrees,
subject to the limitations and exceptions set forth below, that if any deduction or withholding for any present or future taxes, assessments or other governmental charges of the jurisdiction (or any political subdivision or taxing authority thereof
or therein) in which the Guarantor is incorporated, shall at any time be required by such jurisdiction (or any such political subdivision or taxing authority) in respect of any amounts to be paid by the Guarantor under this Guarantee, the Guarantor
will pay to the Holder of a Security of such series such additional amounts as may be necessary in order that the net amounts paid to such Holder 

 
 22 

 of such Security who, with respect to any such tax, assessment or other governmental charge, is not resident in such jurisdiction, after such
deduction or withholding, shall be not less than the amounts specified in such Security to which such Holder is entitled; provided, however, that the Guarantor shall not be required to make any payment of additional amounts (1) for or on
account of any such tax, assessment or governmental charge imposed by the United States or any political subdivision or taxing authority thereof or therein or (2) for or on account of: 
  
 (a)    any tax, assessment or other governmental charge which would not have been imposed but for (i) the existence of any present or former connection
between such Holder (or between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder, if such Holder is an estate, trust, partnership or corporation) and the taxing jurisdiction or any political
subdivision or territory or possession thereof or area subject to its jurisdiction, including, without limitation, such Holder (or such fiduciary, settlor, beneficiary, member, shareholder or possessor) being or having been a citizen or resident
thereof or being or having been present or engaged in trade or business therein or having or having had a permanent establishment therein or (ii) the presentation of a Security of such series (where presentation is required) for payment on a date
more than 30 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; 
  
 (b)    any estate, inheritance, gift, sale, transfer, personal property or similar tax, assessment or other governmental charge; 
  
 (c)    any tax, assessment or other governmental charge which is payable otherwise than by withholding from payments
of (or in respect of) principal of, or any interest on, the Securities of such series; 
  
 (d)    any tax, assessment or other governmental charge that is imposed or withheld by reason of the failure by the Holder or the beneficial owner of the Security of such series (i) to provide information
concerning the nationality, residence or identity of the Holder or such beneficial owner or (ii) to make any declaration or other similar claim or satisfy any information or reporting requirements, which, in the case of (i) or (ii), is required or
imposed by a statute, treaty, regulation or administrative practice of the taxing jurisdiction as a precondition to exemption from all or part of such tax, assessment or other governmental charge; 
  
 (e)    any tax, assessment or other governmental charge which such Holder would have been able to avoid by presenting
such Security to another Paying Agent; 
  
 (f)    any tax, assessment or other governmental
charge which is imposed on a payment pursuant to any European Union Directive on the taxation of savings implementing the conclusions of the ECOFIN Council meeting of November 26 and 27, 2000, or any law implementing such directive; 

 
 23 

  
 (g)    any tax, assessment or other governmental charge which
is required to be withheld or deducted by reason of such Holder being a Person with whom the Company or the Guarantor is not dealing at arm’s length (within the meaning of the Income Tax Act (Canada)); 
  
 (h)    any tax, assessment or other governmental charge which would not have been imposed but for the failure of such
Holder to comply with any requirement under relevant income tax treaties or Canadian statutes and regulations (or any administrative practice in Canada) to claim or establish entitlement to exemption from or reduction of such taxes or duties; or

  
 (i)    any combination of items (a), (b), (c), (d), (e), (f), (g) and (h) above; nor shall
additional amounts be paid with respect to any payment of the principal of, or any interest on, any Security of such series to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent such
payment would be required by the laws of the jurisdiction (or any political subdivision or taxing authority thereof or therein) to be included in the income for tax purposes of a beneficiary or settlor with respect to such fiduciary or a member of
such partnership or a beneficial owner who would not have been entitled to such additional amounts had it been the Holder of such Security. 
  
 The foregoing provisions shall apply mutatis mutandis to any withholding or deduction for or on account of any present or future taxes, assessments or governmental charges of whatever nature of any
jurisdiction in which any successor Person to the Guarantor is organized, or any political subdivision or taxing authority thereof or therein. 
  
 The Guarantor hereby agrees that its obligations hereunder shall be as if it were principal debtor and not merely surety, and shall be absolute and unconditional, irrespective of, and shall be
unaffected by, any invalidity, irregularity or unenforceability of such Security or such Indenture, any failure to enforce the provisions of such Security or such Indenture, or any waiver, modification or indulgence granted to the Company with
respect thereto, by the Holder of such Security or such Trustee, or any other circumstance which may otherwise constitute a legal or equitable discharge of a surety or guarantor; provided, however, that, notwithstanding the foregoing,
no such waiver, modification or indulgence shall, without the consent of the Guarantor, increase the principal amount of such Security or the interest rate thereon or impose or increase any premium payable upon redemption thereof. The Guarantor
hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Company, any right to require a proceeding first against the Company, protest or notice with respect to such Security
or the indebtedness evidenced thereby [or with respect to any sinking fund payment required under such Security] and all demands whatsoever, and covenants that this Guarantee will not be discharged except by payment in full of the principal of (and
premium, if any) and interest on such Security. This is a guarantee of payment and not of collection. 
  
 The
Guarantor shall be subrogated to all rights of the Holder of such Security against the Company in respect of any amounts paid to such Holder by the Guarantor 

 
 24 

 pursuant to the provisions of this Guarantee; provided, however, that the Guarantor shall not be entitled to enforce, or to
receive any payments arising out of or based upon, such right of subrogation until the principal of (and premium, if any) and interest on all Securities of the same series issued under such Indenture shall have been paid in full. 

 
 No reference herein to such Indenture and no provision of this Guarantee or of such Indenture shall alter or impair the
guarantee of the Guarantor, which is absolute and unconditional, of the due and punctual payment of the principal of (and premium, if any) and interest on the Security upon which this Guarantee is endorsed at the times, place and rate, and in the
coin or currency prescribed therein. 
  
 This Guarantee shall not be valid or obligatory for any purpose until the
certificate of authentication of such Security shall have been manually executed by or on behalf of the Trustee under such Indenture. 
  
 All terms used in this Guarantee which are defined in such Indenture shall have the meanings assigned to them in such Indenture. 
  
 IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be signed manually or in facsimile by a person duly authorized in that behalf. 

 
  
 
	 BP p.l.c.
 
	 
	  	 	 ................................................................................
 
	  	 	 AUTHORIZED SIGNATORY
 

 
  
 Attest: 
  

............................................. 
  
 Dated the date on the face hereof. 
  

	Section
	 
	206.  Form of Legend for Global Securities. 
 

  
 Any Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form or such other form as may be determined pursuant to
Section 201: 
  
 “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. This Global Security is exchangeable for Securities registered in the name of a Person other than the Depositary or its nominee only in the limited circumstances described
in the Indenture, and no transfer of this Security (other than a transfer of this Security as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary) may be
registered except in such limited circumstances.” 

 
 25 

  
 ARTICLE THREE 
  
 THE SECURITIES 
  
 Section
301.  Amount Unlimited; Issuable in Series. 
  
 The aggregate principal amount of Securities which
may be authenticated and delivered under this Indenture is unlimited. 
  
 The Securities may be issued in one or more
series. There shall be established by or pursuant to a Board Resolution of the Company or the Guarantor, as appropriate, and set forth in (or determined in the manner set forth in) an Officers’ Certificate of the Company or the Guarantor, as
appropriate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series, 
  
 (1)    the title of the Securities of the series (which shall distinguish the Securities of the series from Securities of any other series); 
  
 (2)    any limit upon the aggregate principal amount of the Securities of the series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 304, 305, 306, 906 or 1107);

  
 (3)    the Person to whom any interest on a Security of the series shall be
payable, if other than the Person in whose name such Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 
  
 (4)    the date or dates on which the principal of the Securities of the series is payable; 
  
 (5)    the rate or rates at which the Securities of the series shall bear interest, if any, the date
or dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable and the Regular Record Date for the interest payable on any Interest Payment Date; 
  
 (6)    the place or places where the principal of (and premium, if any) and interest on Securities of
the series shall be payable; 
  
 (7)    if applicable, the period or periods
within which, the price or prices at which and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company, including the date referred to in Section 1108; 
  
 (8)    the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant
to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or 

 
 26 

 prices at which and the terms and conditions upon which Securities of the series shall be redeemed or purchased, in whole
or in part, pursuant to such obligation; 
  
 (9)    if other than denominations
of $1,000 and any integral multiple thereof, the denominations in which Securities of the series shall be issuable; 
  
 (10)    if other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant
to Section 502; 
  
 (11)    if other than such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public or private debts, the coin or currency (including any composite currency) in which payment of the principal of (and premium, if any) and interest on the Securities of
the series shall be denominated or payable and the manner of determining the equivalent thereof in the currency of the United States of America for the purposes of the definition of “Outstanding” in Section 101; 
  
 (12)    if the principal of (and premium, if any) or interest on the Securities of the series are to
be payable, at the election of the Company or a Holder thereof, in a coin or currency (including any composite currency) other than that in which the Securities are stated to be payable, the period or periods within which, and the terms and
condition upon which, such election may be made; 
  
 (13)    if the principal
amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such
date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated
Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined); 
  
 (14)    if the amounts of payments of principal of (and premium, if any) or interest on the Securities of the series may be determined with reference to an index, the manner in which such amounts shall be
determined; 
  
 (15)    the Guarantee of the Securities of such series pursuant
to Article Thirteen hereof; 
  
 (16)    whether the Securities of the series
shall be issued in whole or in part in the form of one or more Global Securities and, if so, the Depositary for such Global Security or Securities; 
  
 (17)    any addition to or change in the Events of Default which applies to any Securities of the series and any change in the right of
the Trustee or the 

 
 27 

 requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 502;

  
 (18)    with respect to such series of Securities, the “Stated
Intervals” and the “Record Date” for purposes of Section 312(a) (in the case of non-interest bearing Securities) and 316(c), respectively, of the Trust Indenture Act; 
  
 (19)    if additional amounts pursuant to Section 1010 will not be payable by the Company or the Guarantor; and 
  
 (20)    any other terms of the series (which terms shall not be inconsistent with the provisions of
this Indenture). 
  
 All Securities of any one series shall be substantially identical except as to denomination and
number and except as may otherwise be provided in or pursuant to such Board Resolutions and set forth (or determined in the manner provided in) in such Officers’ Certificates or in any such indenture supplemental hereto. 

 
 If any of the terms of the series are established by action taken pursuant to a Board Resolution of the Company or the
Guarantor, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company or by the Secretary, a Deputy Secretary, an Assistant Secretary or a Deputy Assistant Secretary of the Guarantor,
as the case may be, and delivered to the trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series. 
  
 With respect to Securities of a series offered in a Periodic Offering, the Board Resolution (or action taken pursuant thereto), Officers’ Certificate or supplemental indenture referred to above
may provide general terms or parameters for Securities of such series and provide either that the specific terms of particular Securities of such series shall be specified in a Company Order or that such terms shall be determined by the Company in
accordance with other procedures specified in a Company Order as contemplated by the third paragraph of Section 303. 
  
 Notwithstanding Section 301(2) herein and unless otherwise expressly provided with respect to a series of Securities, the aggregate principal amount of a series of Securities may be increased and additional Securities of such series
may be issued up to the maximum aggregate principal amount authorized with respect to such series as increased. 
  
 Section
302.  Denominations. 
  
 The Securities of each series shall be issuable in registered form without
coupons in such denominations as shall be specified as contemplated by Section 301. In the absence of any such provisions with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and
any integral multiple thereof. 

 
 28 

 Section 303.  Execution, Authentication, Delivery and Dating. 
  
 The Securities shall be executed on behalf of the Company by one of its Directors or senior officers. The signature of any of such director or officer on the Securities may
be manual or facsimile. 
  
 Securities bearing the manual or facsimile signatures of individuals who were at any time
the proper officers of the Company or the Guarantor, as the case may be, shall bind the Company or the Guarantor, as the case may be, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication
and delivery of such Securities or did not hold such offices at the date of such Securities. 
  
 At any time and from
time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company having endorsed thereon Guarantees executed by the Guarantor to the Trustee for authentication, together with a
Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities; provided, however, that in the case of Securities offered in a
Periodic Offering, the Trustee shall authenticate and deliver such Securities from time to time in accordance with such other procedures (including, without limitation, the receipt by the Trustee of oral or electronic instructions from the Company
or its duly authorized agents, promptly confirmed in writing) acceptable to the Trustee as may be specified by or pursuant to a Company Order delivered to the Trustee prior to the time of the first authentication of Securities of such series. If the
form or terms of the Securities of the series or the form of the Guarantees endorsed thereon have been established by or pursuant to one or more Board Resolutions as permitted by Sections 201 and 301, in authenticating such Securities, and accepting
the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to 601) shall be fully protected in relying upon, an Opinion of Counsel stating, 
  
 (a)    if the form of such Securities or Guarantees has been established by or pursuant to Board
Resolution as permitted by Section 201, that such form has been established in conformity with the provisions of this Indenture; 
  
 (b)    if the terms of such Securities have been, or in the case of Securities of a series offered in a Periodic Offering, will be, established by or pursuant to Board Resolution as
permitted by Section 301, that such terms have been, or in the case of Securities of a series offered in a Periodic Offering, will be, established in conformity with the provisions of this Indenture, subject, in the case of Securities of a series
offered in a Periodic Offering, to any conditions specified in such Opinion of Counsel; 
  
 (c)    that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and
legally binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and 

 
 29 

 similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles,
and 
  
 (d)    that such Guarantees, when the Securities upon which they shall
have been endorsed shall have been authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the
Guarantor enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity
principles. 
  
 If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the
issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities or this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 

 
 Notwithstanding the provisions of Section 301 and of the preceding paragraph, if all Securities of a series are not to be
originally issued at one time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to Section 301 or the Company Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or
prior to the time of authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 
  
 With respect to Securities of a series offered in a Periodic Offering, the Trustee may rely, as to the authorization by the Company and
the Guarantor of any of such Securities and the related Guarantees, the form and terms thereof and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and the other documents delivered pursuant to Sections
201 and 301 and this Section, as applicable, in connection with the first authentication of Securities of such series. 
  
 Each Security shall be dated the date of its authentication. 
  
 No Security or Guarantee endorsed
thereon shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by
manual signature of an authorized officer, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and that such Security or Guarantee is
entitled to the benefits of this Indenture. 
  
 Section 304.  Temporary Securities. 
  
 Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall
authenticate and deliver, temporary Securities substantially of the tenor of the definitive Securities in lieu of which they are issued, and having endorsed thereon Guarantees duly executed by the Guarantor 

 
 30 

 substantially of the tenor of the definitive Guarantees, which Securities and Guarantees may be printed, lithographed, typewritten, mimeographed
or otherwise produced, in any authorized denomination and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities and the person duly authorized thereto executing such Guarantees may
determine, all as evidenced by such execution. 
  
 If temporary Securities of any series are issued, the Company will
cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such
series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of
any series the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive Securities of the same series of authorized denominations and of a like aggregate principal amount and tenor, having
endorsed thereon Guarantees duly executed by the Guarantor. Until so exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series. 

 
 Section 305.  Registration, Registration of Transfer and Exchange. 
  
 The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office being herein sometimes referred to as the
“Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security
Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. 
  
 Upon
surrender for registration of transfer of any Security of any series at the office or agency in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Securities of the same series, of any authorized denominations and of a like aggregate principal amount and tenor, each such Security having endorsed thereon a Guarantee duly executed by the Guarantor. 

 
 At the option of the Holder, Securities of any series may be exchanged for other Securities of the same series, of any
authorized denominations and of a like aggregate principal amount and tenor, each such Security having endorsed thereon a Guarantee duly executed by the Guarantor, upon surrender of the Securities to be exchanged at such office or agency. Whenever
any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 
  
 All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company and the
Guarantor, evidencing the same 

 
 31 

 debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange.

  
 Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the
Company or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing.

  
 No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may
require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, 906 or 1107 not involving
any transfer. 
  
 The Company shall not be required (i) to issue, register the transfer of or exchange Securities of
any series during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of Securities of that series selected for redemption under Section 1103 and ending at the close of business on the day of
such mailing, or (ii) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 
  

Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof and
delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture. 
  
 Notwithstanding the foregoing, except as otherwise specified as contemplated by Section 301, any Global Security shall be exchangeable pursuant to this Section 305 for
Securities registered in the names of Persons other than the Depositary for such series or its nominee if, but only if, (i) such Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such series or at any time
ceases to be a clearing agency registered as such under the Exchange Act, as amended, and the Company and/or the Guarantor notify the Trustee that they are unable to locate a qualified successor Depositary, (ii) the Company and/or the Guarantor
executes and delivers to the Trustee a Company Order that such Global Security shall be so exchangeable or (iii) there shall have occurred and be continuing an Event of Default with respect to the Securities of such series and beneficial owners of
the Securities evidencing not less than 50% of the aggregate unpaid principal amount of the Securities of such series advise the Trustee and the Depositary through participants in writing that the continuation of a book-entry system is no longer in
the best interests of the beneficial owners of the Securities of such series. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as such Depositary shall direct.

  
 Notwithstanding any other provision of this Indenture, a Global Security may not be transferred except as a whole
by the Depositary for such Global Security to a nominee 

 
 32 

 of such Depositary or by a nominee of such Depositary to such Depositary or another nominee of such Depositary. 
  
 Section 306.  Mutilated, Destroyed, Lost and Stolen Securities. 
  
 If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the
same series and of like tenor and principal amount, having endorsed thereon a Guarantee duly executed by the Guarantor, and bearing a number not contemporaneously outstanding. 
  
 If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or
indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute
and upon its request the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount, having endorsed thereon a Guarantee duly executed by
the Guarantor, and bearing a number not contemporaneously Outstanding. 
  
 In case any such mutilated, destroyed,
lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security upon compliance with the foregoing conditions. 
  
 Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
  
 Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company and the
Guarantor, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series
duly issued hereunder. 
  
 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
  
 Section
307.  Payment of Interest; Interest Rights Preserved. 
  
 Except as otherwise provided as
contemplated by Section 301 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or
one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. 

 
 33 

  
 Any interest on any Security of any series which is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such
Defaulted Interest may be paid by the Company, at its election in each case, as provided in Clause (1) or (2) below: 
  
 (1)    The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close
of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security
or such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make
arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided.
Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by
the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor to be mailed, first class postage prepaid, to each Holder of Securities of such series at his address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the
proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities)
are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2). 
  
 (2)    The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities
exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed
practicable by the Trustee. 
  
 Subject to the foregoing provisions of this Section, each Security delivered under
this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 

 
 34 

  
 Section 308.  Persons Deemed Owners. 
  
 Prior to due presentment of a Security for registration of transfer, the Company, the Guarantor, the Trustee and any agent of the Company,
the Guarantor or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of (and premium, if any) and (subject to Section 307) interest on such
Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Guarantor, the Trustee nor any agent of the Company, the Guarantor or the Trustee shall be affected by notice to the contrary.

  
 No holder of any beneficial interest in any Global Security held on its behalf by a Depositary shall have any
rights under this Indenture with respect to such Global Security, and such Depositary may be treated by the Company, the Guarantor, the Trustee, and any agent of the Company, the Guarantor or the Trustee as the owner of such Global Security for all
purposes whatsoever. Notwithstanding the foregoing, nothing herein shall impair, as between a Depositary and such holders of beneficial interests, the operation of customary practices governing the exercise of the rights of the Depositary as Holder
of any Security. 
  
 None of the Company, the Guarantor, the Trustee or any agent of the Company, the Guarantor or
the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in a Global Security or for maintaining, supervising or reviewing any records relating to
such beneficial ownership interests. 
  
 Section 309.  Cancellation. 
  

All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any
Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company or the Guarantor may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder
which the Company or the Guarantor may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company
has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly
permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures or as directed by a Company Order. 
  

Section 310.  Computation of Interest. 
  
 Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months. For disclosure purposes
under the Interest Act 

 
 35 

 (Canada), whenever in this Indenture or any Securities issued hereunder interest at a specified rate is to be calculated on the basis of a
period less than a calendar year, the yearly rate of interest to which such rate is equivalent is such rate multiplied by the actual number of days in the relevant calendar year and divided by the number of days in such period. 

 
 ARTICLE FOUR 
  
 SATISFACTION AND DISCHARGE 
  
 Section 401.  Satisfaction
and Discharge of Indenture. 
  
 This Indenture shall upon Company Request cease to be of further effect (except
as to any surviving rights of registration of transfer or exchange of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture, when 
  
 (1)    either 
  
 (A)    all Securities theretofore authenticated and delivered (other than (i) Securities which have
been destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company or the Guarantor and
thereafter repaid to the Company or the Guarantor or discharged from such trust, as provided in Section 1006) have been delivered to the Trustee for cancellation; or 
  
 (B)    all such Securities not theretofore delivered to the Trustee for cancellation 
  
 (i)    have become due and payable, or 
  
 (ii)    will become due and payable at their Stated Maturity within one year, or 
  

(iii)    are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice
of redemption by the Trustee in the name, and at the expense, of the Company, 
  
 and the Company or the Guarantor,
in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered
to the Trustee for cancellation, for principal (and premium, if any) and interest to the date of such deposit (in the case of Securities which have become due and 

 
 36 

 payable) or to the Stated Maturity or Redemption Date, as the case may be; 
  
 (2)    the Company or the Guarantor has paid or caused to be paid all other sums payable hereunder by
the Company; and 
  
 (3)    the Company has delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
  
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company and the Guarantor to the Trustee under
Section 607, the obligations of the Company and the Guarantor to any Authenticating Agent under Section 614 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of the
Trustee under Section 402 and the last paragraph of Section 1006 shall survive. 
  
 Section 402.  Application of Trust
Money. 
  
 Subject to the provisions of the last paragraph of Section 1006, all money and the proceeds of any
Government Obligations deposited with the Trustee pursuant to Section 401 or 403 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company or the Guarantor acting as Paying Agent) as the Trustee may determine, of the principal (and premium, if any) and interest to the Holders of the series of Securities for the payment in respect of which such money has
been deposited with the Trustee. 
  
 The Company or the Guarantor shall pay and indemnify the Trustee against any
tax, fee or other charge imposed on or assessed against the Government Obligations deposited pursuant to Section 403 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the
account of the Holders of Outstanding Securities. The obligations of the Company and the Guarantor pursuant to this paragraph shall be joint and several. 
  
 Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the Company or the Guarantor from time to time upon Company Request any money or Government Obligations
held by it as provided in Section 403 with respect to any Securities which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the
amount thereof which would then be required to be deposited to effect the Discharge or Covenant Defeasance, as the case may be, with respect to such Securities. 
  
 Section 403.  Defeasance Upon Deposit of Moneys or Government Obligations. 
  
 At the Guarantor’s option, either (a) the Company and the Guarantor shall each be deemed to have been Discharged (as defined below) from its respective obligations with 

 
 37 

 respect to any series of Securities on the 91st day after the applicable conditions set forth below have been satisfied or (b) the Company and
the Guarantor shall cease to be under any obligation to comply with any term, provision or condition set forth in Sections 801 or 802 or any covenant set forth in any indenture supplemental to this Indenture or otherwise established pursuant to
Section 301 and noncompliance with such Sections or covenants shall not give rise to any Event of Default under Section 501(4) or under Section 501(7) (“Covenant Defeasance”), with respect to any series of Securities at any time after the
applicable conditions set forth below have been satisfied: 
  
 (1)     the
Company or the Guarantor shall have deposited or caused to be deposited irrevocably with the Trustee or its agent as trust funds in trust, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of the Securities of
such series (i) money in an amount, or (ii) Government Obligations of the government in the currency of which the Securities of such series are denominated which through the payment of interest and principal in respect thereof in accordance with
their terms will provide, not later than the due date of any payment, money in an amount, or (iii) a combination of (i) and (ii), sufficient, in the opinion (with respect to (ii) and (iii)) of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal (including mandatory sinking fund payments) of and interest on, the outstanding Securities of such series on the
dates such installments of interest or principal are due or to and including the Redemption Date irrevocably designated by the Guarantor pursuant to subparagraph (5) hereof; 
  
 (2)     if the Securities of such series are then listed on the New York Stock Exchange, the Company or the Guarantor shall have
delivered to the Trustee an Opinion of Counsel to the effect that the exercise of the option under this Section 403 would not cause such Securities to be delisted; 
  
 (3)     no Event of Default or event which with notice or lapse of time would become an Event of Default under Section 501(1), (2), (3),
(5) or (6) with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit; 
  
 (4)     the Company or the Guarantor shall have delivered to the Trustee an Opinion of Counsel to the effect that holders of the Securities of such series will not recognize income,
gain or loss for Federal income tax purposes as a result of the exercise of the option under this Section 403 and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if
such option had not been exercised, and, in the case of Securities being Discharged, such opinion shall be accompanied by a private letter ruling to that effect received from the United States Internal Revenue Service or a revenue ruling pertaining
to a comparable form of transaction to that effect published by the United States Internal Revenue Service; 

 
 38 

  
 (5)     if the Company or the Guarantor has
deposited or caused to be deposited money or Government Obligations to pay or discharge the principal of (and premium, if any) and interest on the Outstanding Securities of a series to and including a Redemption Date pursuant to subparagraph (1)
hereof, such Redemption Date shall be irrevocably designated by a Board Resolution delivered to the Trustee on or prior to the date of deposit of such money or Government Obligations and such Board Resolution shall be accompanied by an irrevocable
Company Request that the Trustee give notice of such redemption in the name and at the expense of the Company not less than 30 nor more than 60 days prior to such Redemption Date in accordance with Section 1104; and 
  
 (6)     the Company or the Guarantor shall have delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel, each stating that all conditions precedent with respect to such Discharge or Covenant Defeasance have been complied with. 
  
 “Discharged” means that the Company and Guarantor shall be deemed to have paid and discharged the entire indebtedness represented by, and obligations under, the Securities of such series and the Guarantees endorsed thereon
and to have satisfied all the obligations under this Indenture relating to the Securities of such series and the Guarantees endorsed thereon (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same),
except (A) the rights of holders of Securities of such series to receive, from the trust fund described in clause (1) above payment of the principal of and the interest on such Securities when such payments are due; (B) the Company’s or the
Guarantor’s obligations, as the case may be, with respect to such Securities under Sections 305, 306, 1002, 1005 and 1006; and (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder. 
  
 Notwithstanding any Covenant Defeasance with respect to Sections 801 and 802, any corporation or Person that would otherwise have been
required to assume the obligations of the Company or the Guarantor pursuant to said Sections shall be required, as a condition to any merger, consolidation, amalgamation, transfer, conveyance or lease contemplated thereby, to assume the obligations
of the Company or the Guarantor, as the case may be, to the Trustee under Sections 402 and 607. 
  
 ARTICLE FIVE

  
 REMEDIES 
  
 Section 501.  Events of Default. 
  
 “Event of
Default”, wherever used herein with respect to Securities of a particular series, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation
of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

 
 39 

  
 (1)     default in the payment of any
interest upon any Security of that series when it becomes due and payable, and continuance of such default for a period of 30 days; or 
  
 (2)     default in the payment of the principal of (or premium, if any, on) any Security of that series at its Maturity; or 
  

(3)     default in the deposit of any sinking fund payment, when and as due by the terms of a Security of that series; or

  
 (4)     default in the performance, or breach, of any covenant or warranty of
the Company or the Guarantor in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for
the benefit of series of Securities other than that series), and continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company and the Guarantor by the Trustee or to the
Company, the Guarantor and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is
a “Notice of Default” hereunder; or 
  
 (5)     the entry by a court
having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company or the Guarantor in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law of Canada or the
United Kingdom or (B) a decree or order adjudging the Company or the Guarantor a bankrupt or insolvent, or approving as properly filed a petition filed against the Company or the Guarantor seeking reorganization, arrangement, adjustment or
composition of or in respect of the Company or the Guarantor under any applicable law of Canada or the United Kingdom, or appointing without the consent of the Company or the Guarantor a custodian, receiver, liquidator, assignee, trustee,
sequestrate or other similar official of the Company or the Guarantor or of the whole or substantially all of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any
such other decree or order unstayed and in effect for a period of 90 consecutive days; 
  
 (6)
    the commencement by the Company or the Guarantor of a voluntary case or proceeding under, in the case of the Company, any applicable bankruptcy, insolvency, reorganization or other similar law of Canada or, in the case of the
Guarantor, any applicable bankruptcy, insolvency, reorganization or other similar law of the United Kingdom or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for
relief in respect of the Company or the Guarantor in an involuntary case or proceeding under, in the case of the Company, any applicable bankruptcy, insolvency, reorganization or other similar law of Canada or, in the case of the Guarantor, any
applicable bankruptcy, insolvency, reorganization or other similar 

 
 40 

 law of the United Kingdom or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the
filing by it of a petition or answer or consent seeking reorganization or relief under, in the case of the Company, any applicable bankruptcy, insolvency, reorganization or other similar law of Canada or, in the case of the Guarantor, any applicable
bankruptcy, insolvency, reorganization or other similar law of the United Kingdom, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee,
sequestrater or similar official of the Company or the Guarantor or of the whole or substantially all of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its
debts generally as they become due, or the taking of corporate action by the Company or the Guarantor in furtherance of any such action; or 
  
 (7)     any other Event of Default provided with respect to Securities of that series. 
  
 Upon receipt by the Trustee of any Notice of Default pursuant to this Section 501, (i) with respect to Securities of a series all or part of which is represented by a Global Security, a record date
shall be established, which record date shall be at the close of business on the day the Trustee receives such Notice of Default, and (ii) with respect to any other series of Securities, the Trustee may, but shall not be obligated to, establish a
record date, in each case for the purpose of determining Holders of Outstanding Securities of such series entitled to join in such Notice of Default. If such record date is fixed, the Holders on such record date, or their duly designated proxies,
and only such Persons, shall be entitled to join in such Notice of Default, whether or not such Holders remain Holders after such record date; provided, however, that unless Holders of at least the requisite principal amount (which
amount shall be 25% in the case of subclause (4) of this Section) of the Outstanding Securities of such series, or their proxies, shall have joined in such Notice of Default prior to the day which is 90 days after such record date, such Notice of
Default and the Act of Holders, or their proxies, joining in such Notice of Default shall automatically and without further action by any Holders be cancelled and of no effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a
Holder, from giving, (i) after expiration of such 90-day period, a new Notice of Default to the same effect as that cancelled pursuant to the proviso to the preceding sentence, or (ii) during any such 90-day period in respect of any Notice of
Default with respect to a prospective Event of Default with respect to Securities of such series, an additional Notice of Default with respect to any other prospective Event of Default (other than a prospective Event of Default as to which such a
90-day period has not expired) with respect to Securities of such series, in either of which events a new record date shall or may, as the case may be, be established pursuant to the provisions of this Section 501 in respect of such new or
additional Notice of Default. 
  
 Section 502.  Acceleration of Maturity; Rescission and Annulment. 

 
 If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every
such case the Trustee or the Holders 

 
 41 

 of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if the Securities of
that series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the
Company and the Guarantor (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. 
  
 At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has
been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company, the Guarantor and the Trustee, may rescind and annul
such declaration and its consequences if 
  
 (1)    the Company or the Guarantor
has paid or deposited with the Trustee a sum sufficient to pay 
  
 (A)     all
overdue interest on all Securities of that series, 
  
 (B)     the principal of
(and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in such Securities, 
  
 (C)     to the extent that payment of such interest is lawful, interest upon overdue interest at the
rate or rates prescribed therefor in such Securities, and 
  
 (D)     all sums
paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; 
  
 and 
  
 (2)    all Events of
Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513.

  
 No such rescission shall affect any subsequent default or impair any right consequent thereon. 
  
 Upon receipt by the Trustee of any written notice declaring such an acceleration, or rescission and annulment thereof, (i) with respect to
Securities of a series all or part of which is represented by a Global Security, a record date shall be established, which record date shall be at the close of business on the day the Trustee receives such notice, and (ii) with respect to any other
series of Securities, the Trustee may, but shall not be 

 
 42 

 obligated to, establish a record date, in each case for the purpose of determining Holders of Outstanding Securities of such series entitled to
join in such notice. If such record date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such notice, whether or not such Holders remain Holders after such record date;
provided, however, that unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having joined in such notice prior to the day which is
90 days after such record date, such notice of declaration of acceleration, or rescission and annulment, as the case may be, and the Act of Holders, or their proxies, joining in such notice shall automatically and without further action by any
Holders be cancelled and of no effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, of Securities of any series from giving, (i) after expiration of such 90-day period, a new written notice of declaration of
acceleration, or rescission and annulment thereof, as the case may be, to the same effect as that cancelled pursuant to the proviso to the preceding sentence, or (ii) during any such 90-day period in respect of any written notice of declaration of
acceleration or rescission and annulment thereof, as the case may be, with respect to any Event of Default with respect to Securities of such series, an additional written notice of declaration of acceleration, or rescission and annulment thereof,
as the case may be, with respect to any other Event of Default (other than an Event of Default as to which such a 90-day period has not expired) with respect to Securities of such series, in either of which events a new record date shall or may, as
the case may be, be established pursuant to the provisions of this Section 502 in respect of such new or additional written notice. 
  
 Section 503.  Collection of Indebtedness and Suits for Enforcement by Trustee. 
  
 The Company covenants that if 
  
 (1)     default is made in the
payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or 
  
 (2)     default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, 
  

the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and
premium, if any) and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal (and premium, if any) and on any overdue interest, at the rate or rates prescribed therefor in such
Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.

  
 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee
of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such 

 
 43 

 proceeding to judgment or final decree and may enforce the same against the Company, the Guarantor or any other obligor upon such Securities and
collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company, the Guarantor or any other obligor upon such Securities, wherever situated. 
  

If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights
and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in
this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
  
 Section
504.  Trustee May File Proofs of Claim. 
  
 In case of the pendency of any receivership, insolvency,
liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other similar judicial proceeding relative to the Company, the Guarantor of any other obligor upon the Securities or the property of the Company, the Guarantor or of
such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any
demand on the Company or the Guarantor for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order
to have claims of the Holders and the Trustee allowed in any such proceeding. In particular, the Trustee shall be authorized, 
  
 (i)    to file and prove a claim for the whole amount of principal (and premium, if any) and interest owing and unpaid in respect of the Securities in accordance with the terms
thereof and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and of the Holders allowed in such judicial proceeding, and 
  
 (ii)    to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; 
  
 and any custodian, receiver, assignee, trustee, liquidator, sequestrate or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 607. 
  
 Nothing herein contained shall be deemed to
authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, 

 
 44 

 arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceeding. 
  
 Section 505.  Trustee May Enforce Claims Without Possession of
Securities. 
  
 All rights of action and claims under this Indenture or the Securities may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust,
and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect
of which such judgment has been recovered. 
  
 Section 506.  Application of Money Collected. 
  
 Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such money on account of principal (or premium, if any) or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid: 
  
 FIRST:  To the payment of all amounts due the Trustee under
Section 607; and 
  
 SECOND:  To the payment of the amounts then due and
unpaid for principal of (and premium, if any) and interest on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable
on such Securities for principal (and premium, if any) and interest, respectively. 
  
 Section 507.  Limitation on Suits.

  
 No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise,
with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
  
 (1)    such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that series; 
  

(2)    the Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

 
 45 

  
 (3)    such Holder or Holders have offered to
the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; 
  
 (4)    the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 
  
 (5)    no direction inconsistent with such written request has been given to the Trustee during such
60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series; 
  
 it being understood and
intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to
seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 
  
 Section 508.  Unconditional Right of Holders to Receive Principal, Premium and Interest. 
  

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the
principal of (and premium, if any) and (subject to Section 307) interest on such Security on the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the
enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
  
 Section
509.  Restoration of Rights and Remedies. 
  
 If the Trustee or any Holder has instituted any
proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any
determination in such proceeding, the Company and the Guarantor shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such
proceeding had been instituted. 
  
 Section 510.  Rights and Remedies Cumulative. 
  
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative
and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy. 

 
 46 

  
 Section 511.  Delay or Omission Not Waiver. 
  
 No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default
shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
  
 Section 512.  Control by
Holders. 
  
 The Holders of a majority in principal amount of the Outstanding Securities of any series shall have
the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series, provided that

  
 (1)    Such direction shall not be in conflict with any rule of law or with
this Indenture, 
  
 (2)    the Trustee may take any other action deemed proper by
the Trustee which is not inconsistent with such direction, and 
  
 (3)    subject
to the provisions of Section 601, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee, determine that the proceeding so directed would
involve the Trustee in personal liability. 
  
 Upon receipt by the Trustee of any written notice directing the time,
method or place of conducting any such proceeding or exercising any such trust or power, (i) with respect to Securities of a series all or part of which is represented by a Global Security, a record date shall be established, which record date shall
be at the close of business on the day the Trustee receives such notice, and (ii) with respect to any other series of Securities, the Trustee may, but shall not be obligated to, establish a record date, in each case for the purpose of determining
Holders of Outstanding Securities of such series entitled to join in such notice. If such record date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such notice,
whether or not such Holders remain Holders after such record date; provided, however, that unless the Holders of not less than a majority in principal amount of the Outstanding Securities of such series shall have joined in such notice
prior to the date which is 90 days after such record date, such notice and the Act of Holders, or their proxies, joining in such notice shall automatically and without further action by any Holders be cancelled and of no effect. Nothing in this
paragraph shall prevent a Holder, or a proxy of a Holder, from giving, (i) after expiration of such 90-day period, a new notice to the same effect as that cancelled pursuant to the proviso to the preceding sentence, or (ii) during any such 90-day
period in respect of any notice, a new notice giving directions contrary to or otherwise different from such notice in either of which 

 
 47 

 events a new record date shall or may, as the case may be, be established pursuant to the provisions of this Section 512 in respect of such new
notice. 
  
 Section 513.  Waiver of Past Defaults. 
  
 The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series
waive any past default hereunder with respect to such series and its consequences, except a default 
  
 (1)    in the payment of the principal and (or premium, if any) or interest on any Security of such series, or 
  
 (2)    in respect of covenant or provision hereof which under Article Nine cannot be modified or amended without the consent of the
Holder of each Outstanding Security of such series affected. 
  
 With respect to any series of Securities, the
Company may, but shall not be obligated to, establish a record date for the purpose of determining the Persons entitled to waive any past default hereunder. If a record date is fixed, the Holders on such record date, or their duly designated
proxies, and only such Persons, shall be entitled to waive any default hereunder, whether or not such Holders remain Holders after such record date; provided, however, that unless such Holders of not less than a majority in principal
amount of the Outstanding Securities of such series shall have waived such default prior to the date which is 90 days after such record date, any such waiver previously given shall automatically and without further action by any Holder be cancelled
and of no effect. 
  
 Upon any such waiver, such default shall cease to exist and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 
  

Section 514.  Undertaking for Costs. 
  
 All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under
this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion
assess reasonable costs, in the manner and to the extent provided in the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an
assessment in any suit instituted by the Company, the Guarantor or the Trustee. 

 
 48 

  
 Section 515.  Waiver of Stay or Extension Laws. 
  
 The Company and the Guarantor each covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or
plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company and
the Guarantor each (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will
suffer and permit the execution of every such power as though no such law had been enacted. 
  
 ARTICLE SIX

  
 THE TRUSTEE 
  
 Section 601.  Certain Duties and Responsibilities. 
  
 The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act. Notwithstanding the foregoing, no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such
risk or liability is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the
provisions of this Section. 
  
 Section 602.  Notice of Defaults. 
  

Within 90 days after the occurrence known to the Trustee of any default hereunder with respect to the Securities of any series, the Trustee shall transmit by mail to
all Holders of Securities of such series, as their names and addresses appear in the Security Register, notice of all such defaults hereunder, unless such default shall have been cured or waived provided, however, that, except in the
case of a default in the payment of the principal of (or premium, if any) or interest on any Security of such series or in the payment of any sinking fund installment with respect to Securities of such series, the Trustee shall be protected in
withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interest of the
Holders of Securities of such series; and provided, further, that, in the case of any default of the character specified in Section 501(4) with respect to Securities of such series, no such notice to Holders shall be given until at
least 30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series.

 
 49 

  
 Section 603.  Certain Rights of Trustee. 
  
 Subject to the provisions of Section 601: 
  
 (a)    the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or
parties; 
  
 (b)    any request or direction of the Company or the Guarantor
mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of Directors of the Company or the Guarantor shall be sufficiently evidenced by a Board Resolution; 
  
 (c)    whenever in the administration of this Indenture the Trustee shall deem it desirable that a
matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officers’ Certificate;

  
 (d)    the Trustee may consult with counsel and the written advice of such
counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
  
 (e)    the Trustee shall be under no obligation to exercise any of the rights or powers vested in it
by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be
incurred by it in compliance with such request or direction; 
  
 (f)    the
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of
indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine the relevant books, records and premises of the Company and the Guarantor, personally or by agent or attorney; and 
  
 (g)    the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. 

 
 50 

  
 Section 604.  Not Responsible for Recitals or Issuance of Securities. 

 
 The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken
as the statements of the Company or the Guarantor, and the Trustee or any Authenticating Agent assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Securities. The Trustee or any Authenticating Agent shall not be accountable for the use or application by the Company of Securities or the proceeds thereof. 
  
 Section 605.  May Hold Securities. 
  
 The Trustee, any Authenticating
Agent, any Paying Agent, any Security Registrar or any other agent of the Company or the Guarantor, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with
the Company and the Guarantor with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent. 
  
 Section 606.  Money Held in Trust. 
  
 Money held by
the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company or
the Guarantor, as the case may be. 
  
 Section 607.  Compensation and Reimbursement. 
  
 The Company and the Guarantor agree 
  
 (1)    To pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder (which compensation
shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
  
 (2)    except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any
provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and

  
 (3)    to indemnify the Trustee for, and to hold it harmless against, any
loss, liability or expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against
(but not of instituting) any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 

 
 51 

  
 As security for the performance of the obligations of the Company under this
Section, the Trustee shall have a lien prior to the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of (and premium, if any) or interest on such Securities.

  
 The obligations of the Company and the Guarantor under this Section shall be joint and several. 

 
 The provisions of this Section shall survive the satisfaction and discharge of this Indenture. 
  
 Section 608.  Disqualification; Conflicting Interests. 
  
 If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall, as soon as practicable and in any event within 90 days after ascertaining
that it has such conflicting interest, and if the Event of Default (as defined in Section 501 hereof) to which such conflicting interest relates has not been cured or duly waived or otherwise eliminated before the end of such 90-day period, either
eliminate such conflicting interest or resign to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by such Act, the Trustee shall not be deemed to have a
conflicting interest by virtue of being a trustee under this Indenture with respect to Securities of more than one series or by virtue of being a trustee under this Indenture and under any indenture listed in Annex A hereto. 
  
 Section 609.  Corporate Trustee Required; Eligibility. 
  
 There shall at all times be one and only one Trustee hereunder with respect to the Securities of each series, which may be a Trustee hereunder for Securities of one or more other series. Each Trustee
shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such, and has a combined capital and surplus of at least $50,000,000, subject to supervision or examination by Federal or state authority. If such Person publishes
reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus
of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance
with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 
  
 Section 610.  Resignation and Removal; Appointment of Successor. 
  
 (a)    No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance
with the applicable requirements of Section 611. 

 
 52 

  
 (b)    The Trustee may resign at any time with respect to the
Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such
notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
  
 (c)    In accordance with the requirements of Section 315(e) of the Trust Indenture Act, the Trustee may be removed at any time with respect to the
Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company and the Guarantor. 
  
 (d)    If at any time: 
  
 (1)    the Trustee shall fail to comply with Section 608 after written request therefor by the Company or the Guarantor or by any Holder who has been a bona fide Holder of a Security for at least six
months, or 
  
 (2)    the Trustee shall cease to be eligible under Section 609
and shall fail to resign after written request therefor by the Company or the Guarantor or by any such Holder, or 
  
 (3)    the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or
control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
  
 then, in any such
case, (i) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (ii) subject to Section 514, any Holder who has been a bona fide Holder of a Security for at least six months may, subject to the requirements of
the Trust Indenture Act on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees.

  
 (e)    If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those
series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular
series) and shall comply with the applicable requirements of Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall
be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the Guarantor and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its
acceptance of such appointment in accordance with the 

 
 53 

 applicable requirements of Section 611, become the successor Trustee with respect to the Securities of such series and to that extent supersede
the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 611, any
Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series. 
  
 (f)    The Company shall give notice of each
resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage
prepaid, to all Holders of Securities of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its
Corporate Trust Office. 
  
 Section 611.  Acceptance of Appointment by Successor. 
  
 (a)    In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such
successor Trustee so appointed shall execute, acknowledge and deliver to the Company, the Guarantor and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become
effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company, the Guarantor or the successor
Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such
successor Trustee all property and money held by such retiring Trustee hereunder. 
  
 (b)    In
case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the Guarantor, the retiring Trustee and each successor Trustee with respect to the Securities of one or more
series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in,
each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring
with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to
which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees cotrustees of the same trust and that 

 
 54 

 each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any
other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the
Company and the Guarantor or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or
those series to which the appointment of such successor Trustee relates. 
  
 (c)    Upon request
of any such successor Trustee, the Company and the Guarantor shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (a) or
(b) of this Section, as the case may be. 
  
 (d)    No successor Trustee shall accept its
appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under the requirements of the Trust Indenture Act. 
  
 Section 612.  Merger, Consolidation or Succession to Business. 
  
 Any
corporation into which the Trustee may be merged or with which it may be consolidated, or any corporation resulting from any merger or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the
corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified under the requirements of the Trust Indenture Act and eligible under this Article, without the execution
or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such
authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 
  

Section 613.  Preferential Collection of Claims Against Company. 
  
 If and when the Trustee shall be or become a creditor of the Company, the Guarantor or any other obligor upon the Securities, the Trustee shall be subject to the provisions of the Trust Indenture Act
regarding the collection of claims against the Company, the Guarantor or other such obligor. 
  
 Section 614.  Appointment of
Authenticating Agent. 
  
 At any time when any of the Securities remain Outstanding the Trustee may appoint an
Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, registration of transfer or partial

 
 55 

  
 redemption thereof or pursuant to Section 306, and Securities so authenticated shall be entitled to the
benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the
Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an
Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of America, any state thereof or the District of Columbia,
authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or state authority. If such Authenticating Agent publishes reports of
condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign
immediately in the manner and with the effect specified in this Section. 
  
 Any corporation into which an
Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the
corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any
further act on the part of the Trustee or the Authenticating Agent. 
  
 An Authenticating Agent may resign at any
time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving
such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which
shall be acceptable to the Company and shall mail written notice of such appointment by first-class mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating Agent will serve, as their names and
addresses appear in the Security Register. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally
named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 
  
 The Company and the Guarantor agree to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section. 

 
 56 

  
 If an appointment with respect to one or more series is made pursuant to this
Section, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form: 
  
 This is one of the Securities of the series designated herein referred to in the within-mentioned Indenture. 
  
  
 
	 JPMorgan Chase Bank,
 As
Trustee
 
	 
	 By:
 	 	 

	  	 	 As Authenticating Agent
 

 
  
 
	  
	 
	 By:
 	 	 

	  	 	 Authorized Signatory
 

 
  
 ARTICLE SEVEN 
  

HOLDERS’ LISTS AND REPORTS BY TRUSTEE, COMPANY
AND GUARANTOR 
  

	Section
	 
	701.  Company and Guarantor to Furnish Trustee Names and Addresses of Holders. 
 

  
 The Company and the Guarantor will furnish or cause to be furnished to the Trustee 
  

(a)    semi-annually, not more than 15 days after each Regular Record Date for any series of Securities at the time Outstanding (or
after each of the dates to be specified for such purpose for non-interest bearing Securities as contemplated by Section 301), a list, in such form as the Trustee may reasonably require of the names and addresses of the Holders of Securities of such
series as of such Regular Record Date, and 
  
 (b)    at such other times as the
Trustee may request in writing, within 30 days after the receipt by the Company or the Guarantor of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 

 
 excluding from any such list names and addresses received by the Trustee in its capacity as Security Registrar. 
  

	Section 702.  Preservation of Information; Communications to Holders.
	 
	
 

  
 (a)    The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section
701 and the names and addresses of 

 
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 Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in Section
701 upon receipt of a new list so furnished. 
  
 (b)     The rights of Holders to communicate
with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 
  
 (c)     Every Holder of Securities, by receiving and holding the same, agrees with the Company, the Guarantor and the
Trustee that neither the Company nor the Guarantor nor the Trustee nor any agent of any of them shall be held accountable by reason of any disclosure of information as to the names and addresses of the Holders made pursuant to the Trust Indenture
Act. 
  
 Section 703. Reports by Trustee. 
  
 (a)     The Trustee shall, within 60 days after each January 15 following the date of this Indenture, transmit annually by mail to all Holders, as their
names and addresses appear in the Security Register, a brief report with respect to any of the following events which may have occurred within the previous 12 months (but if no such event has occurred within such period, no such report need be
transmitted): 
  
 (1)     any change to its eligibility under Section 609 and its
qualifications under Section 608; 
  
 (2)     the creation of or any material
change to a relationship specified in Section 3l0(b)(l) through Section 3l0(b)(l0) of the Trust Indenture Act; 
  
 (3)     the character and amount of any advances (and if the Trustee elects so to state, the circumstances surrounding the making thereof) made by the Trustee (as such) which remain unpaid on the date of such
report, and for the reimbursement of which it claims or may claim a lien or charge, prior to that of the Securities, on any property or funds held or collected by it as Trustee, except that the Trustee shall not be required (but may elect) to report
such advances to the Holders of Securities of any series if such advances so remaining unpaid aggregate not more than 1⁄2 of 1% of the principal amount of the Securities of such series Outstanding on the date of such report; 

 
 (4)     any change to the amount, interest rate and maturity date of all other indebtedness
owing by the Company or the Guarantor (or by any other obligor on the Securities) to the Trustee in its individual capacity, on the date of such report, with a brief description of any property held as collateral security therefor, except an
indebtedness based upon a creditor relationship arising in any manner described in Section 311(b) (2), (3), (4) or (6) of the Trust Indenture Act; 
  
 (5)     any change to the property and funds, if any, physically in the possession of the Trustee as such on the date of such report;

 
 58 

  
 (6)     any additional issue of Securities
which the Trustee has not previously reported; and 
  
 (7)     any action taken
by the Trustee in the performance of its duties hereunder which it has not previously reported and which in its opinion materially affects the Securities, except action in respect of a default, notice of which has been or is to be withheld by the
Trustee in accordance with Section 602. 
  
 (b)     The Trustee shall transmit by
mail to all Holders, as their names and addresses appear in the Security Register, a brief report with respect to the character and amount of any advances (and if the Trustee elects so to state, the circumstances surrounding the making thereof) made
by the Trustee (as such) since the date of the last report transmitted pursuant to Subsection (a) of this Section (or if no such report has yet been so transmitted, since the date of execution of this instrument) for the reimbursement of which it
claims or may claim a lien or charge, prior to that of the Securities, on property or funds held or collected by it as Trustee and which it has not previously reported pursuant to this Subsection, except that the Trustee shall not be required (but
may elect) to report such advances to the Holders of Securities of any series if such advances remaining unpaid at any time aggregate 10% or less of the principal amount of the Securities of such series Outstanding at such time, such report to be
transmitted within 90 days after such time. 
  
 (c)     A copy of each such
report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, with the Commission and with the Company and the Guarantor. The Company will notify the Trustee when
any Securities are listed on any stock exchange. 
  

	Section 704.  Reports by Company and Guarantor.
	 
	
 

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

 
 59 

  
 (2)    file with the Trustee and the
Commission, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the manner provided in such Act; and 
  
 (3)    transmit by mail to all Holders, as their names and addresses appear in the Security Register,
within 30 days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the Company or the Guarantor, as the case may be, pursuant to paragraphs (1) and (2) of this Section as may be
required by rules and regulations prescribed from time to time by the Commission. 
  
 ARTICLE EIGHT 

 
 CONSOLIDATION, AMALGAMATION, MERGER, CONVEYANCE, TRANSFER
OR LEASE 
  

	Section 801.  Company or Guarantor May Consolidate, Etc., Only on Certain Terms.
	 
	
 

  
 Neither the Company nor the Guarantor shall consolidate with or amalgamate with or merge into any other corporation or convey, transfer or lease its properties and assets substantially as an entirety to any Person, and neither the
Company nor the Guarantor shall permit any Person to consolidate or amalgamate with or merge into it nor shall the Company permit any Person to convey, transfer or lease its properties and assets substantially as an entirety to the Company, unless:

  
 (1)     in case the Company or the Guarantor shall consolidate or amalgamate
with or merge into another corporation or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the corporation formed by such consolidation or amalgamation or into which the Company or the Guarantor is
merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company or the Guarantor substantially as an entirety shall be, in the case of the Company, a corporation organized and existing under
the laws of Canada or a political subdivision thereof or the United States or a political subdivision thereof, and, in the case of the Guarantor, a corporation organized and existing under the laws of England or some other political subdivision of
the United Kingdom or the United States or a political subdivision thereof, and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, in the case of the Company, the
due and punctual payment of the principal of (and premium, if any) and interest on all the Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or observed, and, in the case of the Guarantor,
the due and punctual performance of the Guarantees and the performance of every covenant of this Indenture on the part of the Guarantor to be performed or observed; 
  
 (2)     immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of the Company or
the Guarantor, as 

 
 60 

  
 the case may be, or any of its Subsidiaries as a result of such transaction as
having been incurred by the Company or the Guarantor, as the case may be, or such Subsidiary at the time of such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall
have happened and be continuing; and 
  
 (3)    the Company or the Guarantor, as
the case may be, has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in
connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 
  

	Section 802.  Successor Corporation Substituted.
	 
	
 

  
 Upon any consolidation or amalgamation by the Company or the Guarantor, as the case may be, with or merger by the Company or the Guarantor, as the case may be, into any other corporation or any conveyance, transfer or lease of the
properties and assets of the Company or the Guarantor, as the case may be, substantially as an entirety in accordance with Section 801, the successor corporation formed by such consolidation or amalgamation or into which the Company or the
Guarantor, as the case may be, is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company or the Guarantor, as the case may be, under this
Indenture with the same effect as if such successor corporation had been named as the Company or the Guarantor, as the case may be, herein, and thereafter, except in the case of a lease, the predecessor corporation shall be relieved of all
obligations and covenants under this Indenture and the Securities or the Guarantees, as the case may be. 
  
 ARTICLE NINE

  
 SUPPLEMENTAL INDENTURES 
  

	Section 901.  Supplemental Indentures Without Consent of Holders.
	 
	
 

  
 Without the consent of any Holders, the Company, when authorized by a Board Resolution, the Guarantor, when authorized by or pursuant to a Board Resolution and the Trustee, at any time and from time to time, may enter into one or
more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
  
 (1)    to evidence the succession of another corporation to the Company or the Guarantor and the assumption by any such successor of the covenants of the Company or the Guarantor herein and in the Securities or
the Guarantees; or 
  
 (2)    to add to the covenants of the Company or of the
Guarantor for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants 

 
 61 

 are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred
upon the Company or the Guarantor; or 
  
 (3)    to add any additional Events of
Default for the benefit of the Holders of all or any series of Securities (and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being
included solely for the benefit of such series); or 
  
 (4)    to add any
additional present, future or contingent payment obligation of the Guarantor under any Guarantee for the benefit of the Holders of all or any series of Securities (and if such additional payment obligations are to be for the benefit of less than all
series of Securities, stating that such additional payment obligations are expressly being included solely for the benefit of such series); or 
  
 (5)    to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities in bearer form,
registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; or 
  
 (6)    to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities,
provided, however, that any such addition, change or elimination shall become effective only when there is no Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the
benefit of such provision; or 
  
 (7)    to establish the form or terms of
Securities of any series or the form of Guarantees as permitted by Sections 201 and 301; or 
  
 (8)    to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this
Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611(b); or 
  
 (9)    to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other
provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided, however, that such action shall not adversely affect the interests of the Holders of Securities of any
series in any material respect. 
  
 Section 902.  Supplemental Indentures with Consent of Holders. 
  
 With the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series affected by
such supplemental indenture, by Act of said Holders delivered to the Company, the Guarantor and the Trustee, the Company, 

 
 62 

 when authorized by a Board Resolution, the Guarantor, when authorized by or pursuant to a Board Resolution, and the Trustee may enter into an
indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such
series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby, 
  
 (1)    change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, or reduce the
principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any other Security that would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 502, or change any Place of Payment where, or the coin or currency in which, any Security or any premium or the interest thereon is payable, or impair the right to institute
suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or 
  
 (2)    reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required
for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or

  
 (3)    modify any of the provisions of this Section, Section 513 or Section
1009, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby, provided, however,
that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section and Section 1009, or the deletion of this proviso, in accordance
with the requirements of Sections 611(b) and 901(8), or 
  
 (4)    change in any
manner adverse to the interests of the Holders of Securities the terms and conditions of the obligations of the Guarantor in respect of the due and prompt payment of the principal thereof (and premium, if any) and interest thereon or any sinking
fund payments provided in respect thereof. 
  
 A supplemental indenture which changes or eliminates any covenant or
other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or
other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 

 
 63 

  
 With respect to any series of Securities, the Company may, but shall not be
obligated to, establish a record date for the purpose of determining the Persons entitled to consent to any indenture supplemental hereto. If a record date is fixed, the Holders on such record date, or their duly designated proxies, and only such
Persons, shall be entitled to consent to such supplemental indenture, whether or not such Holders remain Holders after such record date; provided, however, that unless such consent shall have become effective by virtue of the requisite
percentage having been obtained prior to the date which is 90 days after such record date, any such consent previously given shall automatically and without further action by any Holder be cancelled and of no effect. 
  
 It shall not be necessary for any Act of Holders under this Section to approve the particular form of any proposed supplemental indenture,
but it shall be sufficient if such Act shall approve the substance thereof. 
  
 Section 903.  Execution of Supplemental
Indentures. 
  
 In executing, or accepting the additional trusts created by, any supplemental indenture permitted
by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution
of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise. 
  
 Section 904.  Effect of Supplemental Indentures. 
  
 Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 
  

Section 905.  Conformity with Trust Indenture Act. 
  
 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 
  
 Section 906.  Reference in Securities to Supplemental Indentures. 
  
 Securities of
any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such
supplemental indenture. If the Company and the Guarantor shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee, the Company and the Guarantor, to any such supplemental Indenture may be prepared and
executed by the Company, the Guarantees endorsed thereon may be executed by the Guarantor and such Securities may be authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 

 
 64 

  
 ARTICLE TEN 
  
 PARTICULAR COVENANTS OF COMPANY AND GUARANTOR 
  
 Section 1001.  Payment of Principal, Premium and Interest by Company. 
  
 The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of (and premium, if any) and interest on
the Securities of that series in accordance with the terms of the Securities and this Indenture. 
  
 Section 1002.  Maintenance
of Office or Agency by Company. 
  
 The Company will maintain in each Place of Payment for any series of
Securities an office or agency where Securities of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the
Company in respect of the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the
Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
  
 The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes or where such notices or demands may be
served and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in each Place of Payment for
Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 
  
 Section 1003.  Reserved. 
  
 Section 1004.  Reserved. 
  
 Section 1005.  Maintenance of Office or Agency by Guarantor.

  
 The Guarantor will maintain in each Place of Payment for any series of Securities an office or agency where
Securities of that series may be presented or surrendered for payment under the Guarantees endorsed thereon and where notices and demands to or upon the Guarantor in respect of the Guarantees endorsed on the Securities of that series and this
Indenture may be served. The Guarantor will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Guarantor shall fail to maintain any such required office or agency
or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and 

 
 65 

 demands may be made or served at the Corporate Trust Office of the Trustee, and the Guarantor hereby appoints the Trustee as its agent to
receive all such presentations, surrenders, notices and demands. 
  
 The Guarantor may also from time to time
designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for such purpose or where such notices or demands may be served and may from time to time rescind such designations;
provided, however, that no such designation or rescission shall in any manner relieve the Guarantor of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Guarantor will
give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 
  
 Section 1006.  Money for Securities Payments to Be Held in Trust. 
  
 If the Company
or the Guarantor shall at any time act as Paying Agent with respect to any series of Securities, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Securities of that series, segregate and hold in
trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly
notify the Trustee of its action or failure so to act. 
  
 Whenever the Company shall have one or more Paying Agents
for any series of Securities, it will, prior to each due date of the principal of (and premium, if any) or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest
so becoming due, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 
  
 The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
  
 (i)     comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and 
  
 (ii)    during the continuance of any such default by the Company (or any other obligor on the Securities of that series) in the making
of any payment in respect of the Securities of that series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of such series. 

 
 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other
purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon 

 
 66 

 which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent
shall be released from all further liability with respect to such money. 
  
 Any money deposited with the Trustee or
any Paying Agent, or then held by the Company or the Guarantor, in trust for the payment of the principal of (and premium, if any) or interest on any Security of any series and remaining unclaimed for two years after such principal (and premium, if
any) or interest has become due and payable shall be paid to the Company or the Guarantor, as the case may be, on Company Request, or (if then held by the Company or the Guarantor) shall be discharged from such trust; and the Holder of such Security
shall thereafter, as an unsecured general creditor, look only to the Company and the Guarantor for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company or the
Guarantor as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper
published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan, The City of New York, New York, notice that such money remains unclaimed and that, after a date specified therein,
which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company or the Guarantor, as the case may be. 
  

Section 1007.  Corporate Existence. 
  
 Subject to Article Eight, the Company and the Guarantor will preserve and keep in full force and effect their respective corporate existences. 
  
 Section 1008.  Statement by Executive Officers as to Compliance. 
  
 The
Company and the Guarantor will each deliver to the Trustee, within 120 days after the end of each fiscal year of the Guarantor ending after the date hereof, an Executive Officer’s Certificate (which need not comply with the requirements of
Section 102), stating whether or not to the best knowledge of the signers thereof the Company or the Guarantor, as the case may be, has complied with all conditions and covenants on their part contained in this Indenture, and if such signers have
obtained knowledge of any default by the Company or the Guarantor in the performance, observance or fulfillment of any such condition or covenant, specifying all such defaults and the nature and status thereof of which they may have knowledge. For
the purpose of this Section 1008, such compliance with the terms, conditions and covenants of the Indenture shall be determined without regard to any period of grace or requirement of notice provided hereunder. 
  
 Section 1009.  Waiver of Certain Covenants. 
  
 The Company and the Guarantor may omit in any particular instance to comply with any term, provision or condition set forth in any covenant set forth in any indenture supplemental to this Indenture or
otherwise established pursuant to Section 301 with 

 
 67 

 respect to the Securities of any series or the Guarantees endorsed thereon if before the time for such compliance the Holders of at least a
majority in principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall
extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the Guarantor and the duties of the Trustee in respect of any such
term, provision or condition shall remain in full force and effect. 
  
 With respect to any series of Securities, the
Company may, but shall not be obligated to, establish a record date for the purpose of determining the Persons entitled to waive any such term, provision or condition. If a record date is fixed, the Holders on such record date, or their duly
designated proxies, and only such Persons, shall be entitled to waive any such term, provision or condition hereunder, whether or not such Holders remain Holders after such record date; provided, however, that unless the Holders of at least a
majority in principal amount of the Outstanding Securities of such series shall have waived such term, provision or condition prior to the date which is 90 days after such record date, any such waiver previously given shall automatically and without
further action by any Holder be cancelled and of no effect. 
  
 Section 1010.  Additional Amounts. 
  
 Unless otherwise specified in any Board Resolution of the Company or the Guarantor establishing the terms of Securities of a series or the
Guarantees relating thereto in accordance with Section 301, if any deduction or withholding for any present or future taxes, assessments or other governmental charges of the jurisdiction (or any political subdivision or taxing authority thereof or
therein) in which the Company or the Guarantor is incorporated, shall at any time be required by such jurisdiction (or any such political subdivision or taxing authority) in respect of any amounts to be paid by the Company of principal of or
interest on a Security of any series, or by the Guarantor under the Guarantees, the Company or the Guarantor, as the case may be, will pay to the Holder of a Security of such series such additional amounts as may be necessary in order that the net
amounts paid to such Holder of such Security who, with respect to any such tax, assessment or other governmental charge, is not resident in such jurisdiction, after such deduction or withholding, shall be not less than the amounts specified in such
Security to which such Holder is entitled; provided, however, that the Company or the Guarantor, as the case may be, shall not be required to make any payment of additional amounts (1) for or on account of any such tax, assessment or
governmental charge imposed by the United States or any political subdivision or taxing authority thereof or therein or (2) for or on account of: 
  
 (a)    any tax, assessment or other governmental charge which would not have been imposed but for (i) the existence of any present or former connection between such Holder (or
between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder, if such Holder is an estate, trust, partnership or corporation) and the taxing jurisdiction or any political subdivision or territory or
possession thereof or area subject to its jurisdiction, including, without limitation, such 

 
 68 

 Holder (or such fiduciary, settlor, beneficiary, member, shareholder or possessor) being or having been a citizen or resident thereof or being
or having been present or engaged in trade or business therein or having or having had a permanent establishment therein or (ii) the presentation of a Security of such series (where presentation is required) for payment on a date more than 30 days
after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; 
  
 (b)    any estate, inheritance, gift, sale, transfer, personal property or similar tax, assessment or other governmental charge; 
  
 (c)    any tax, assessment or other governmental charge which is payable otherwise than by withholding from payments
of (or in respect of) principal of, or any interest on, the Securities of such series; 
  
 (d)    any tax, assessment or other governmental charge that is imposed or withheld by reason of the failure by the Holder or the beneficial owner of the Security of such series (i) to provide information
concerning the nationality, residence or identity of the Holder or such beneficial owner or (ii) to make any declaration or other similar claim or satisfy any information or reporting requirements, which, in the case of (i) or (ii), is required or
imposed by a statute, treaty, regulation or administrative practice of the taxing jurisdiction as a precondition to exemption from all or part of such tax, assessment or other governmental charge; 
  
 (e)    any tax, assessment or other governmental charge which such Holder would have been able to avoid by presenting
such Security to another Paying Agent; 
  
 (f)    any tax, assessment or other governmental
charge which is imposed on a payment pursuant to any European Union Directive on the taxation of savings implementing the conclusions of the ECOFIN Council meeting of November 26 and 27, 2000, or any law implementing such directive; 

 
 (g)    any tax, assessment or other governmental charge which is required to be withheld or deducted by
reason of such Holder being a Person with whom the Company or the Guarantor is not dealing at arm’s length (within the meaning of the Income Tax Act (Canada)); 
  
 (h)    any tax, assessment or other governmental charge which would not have been imposed but for the failure of such Holder to comply with any
requirement under relevant income tax treaties or Canadian statutes and regulations (or any administrative practice in Canada) to claim or establish entitlement to exemption from or reduction of such taxes or duties; or 
  
 (i)    any combination of items (a), (b), (c), (d), (e), (f), (g) and (h) above; nor shall additional amounts be paid
with respect to any payment of the principal of, or any interest on, any Security of such series to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent such payment would be required by
the laws of the jurisdiction (or any political subdivision or taxing authority 

 
 69 

 thereof or therein) to be included in the income for tax purposes of a beneficiary or settlor with respect to such fiduciary or a member of such
partnership or a beneficial owner who would not have been entitled to such additional amounts had it been the Holder of such Security. 
  
 The foregoing provisions shall apply mutatis mutandis to any withholding or deduction for or on account of any present or future taxes, assessments or governmental charges of whatever nature of any jurisdiction in which any
successor Person to the Company or the Guarantor, as the case may be, is organized, or any political subdivision or taxing authority thereof or therein; provided, however, that such payment of additional amounts may be subject to such
further exceptions as may be established in the terms of such Securities established as contemplated by Section 301. 
  
 Subject to the foregoing provisions, whenever in this Indenture there is mentioned, in any context, the payment of the principal of or any premium or interest on, or in respect of, any Security of any series or payment of any related
coupon or the net proceeds received on the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment of additional amounts provided for in this Section to the extent that, in such context,
additional amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section and express mention of the payment of additional amounts (if applicable) in any provisions hereof shall not be construed as excluding
additional amounts in those provisions hereof where such express mention is not made. 
  
 If the terms of the
Securities of a series established as contemplated by Section 301 do not specify that additional amounts pursuant to the Section will not be payable by the Company or the Guarantor, at least 10 days prior to the first Interest Payment Date with
respect to that series of Securities (or if the Securities of that series will not bear interest prior to Maturity, the first day on which a payment of principal and any premium is made), and at least 10 days prior to each date of payment of
principal and any premium or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company or the Guarantor will furnish the Trustee and the Company’s principal Paying
Agent or Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and any premium or interest on the Securities of that series or
under the related Guarantees shall be made to Holders of Securities of that series without withholding for or on account of any tax, assessment or other governmental charge described in the Securities of that series or the related Guarantees. If any
such withholding shall be required, then such Officers’ Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of Securities and the Company or the Guarantor (only if a payment under
said Guarantees is then due), as the case may be, will pay to the Trustee or such Paying Agent or Paying Agents the additional amounts required by this Section. 
  
 Each of the Company and the Guarantor covenants to indemnify each of the Trustee and any Paying Agent for, and to hold each of them harmless against, any loss, liability or expense arising out of or in
connection with actions taken or omitted by any of 

 
 70 

 them in reliance on any Officers’ Certificate furnished pursuant to this Section, except to the extent that any such loss, liability or
expense is due to its own negligence or bad faith. 
  
 ARTICLE ELEVEN 
  
 REDEMPTION OF SECURITIES 
  
 Section 1101.  Applicability of Article. 
  
 Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in
accordance with this Article. 
  
 Section 1102.  Election to Redeem; Notice to Trustee. 
  
 The election of the Company to redeem any Securities shall be evidenced by a Board Resolution or in another manner specified as
contemplated by Section 301 for such Securities. In case of any redemption at the election of the Company, the Company shall, at least 45 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the
Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed. In the case of any redemption of Securities (a) prior to the expiration of any restriction on such redemption provided in
the terms of such Securities or elsewhere in this Indenture, or (b) pursuant to an election of the Company which is subject to a condition specified in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the
Trustee with an Officers’ Certificate evidencing compliance with such restriction or condition. 
  
 Section
1103.  Selection by Trustee of Securities to Be Redeemed. 
  
 If less than all the Securities of any
series are to be redeemed (unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such
series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series
or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series. 
  
 The Trustee shall promptly notify the Company in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the
principal amount thereof to be redeemed. 
  
 The provisions of the two preceding paragraphs shall not apply with
respect to any redemption affecting only a single Security, whether such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an
authorized denomination (which shall not be less than the minimum authorized denomination for such Security). 

 
 71 

  
 For all purposes of this Indenture, unless the context otherwise requires, all
provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 

 
 Section 1104.  Notice of Redemption. 
  
 Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, at his
address appearing in the Security Register. 
  
 All notices of redemption shall state: 
  
 (1)    the Redemption Date, 
  
 (2)    the Redemption Price or, if not then ascertainable, the manner of calculation thereof, 
  
 (3)    if less than all the Outstanding Securities of any series consisting of more than a single
Security are to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series
consisting of a single Security are to be redeemed, the principal amount of the particular Security to be redeemed, 
  
 (4)    that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said
date, 
  
 (5)    the place or places where such Securities are to be surrendered
for payment of the Redemption Price, and 
  
 (6)    that the redemption is for a
sinking fund, if such is the case. 
  
 Notice of redemption of Securities to be redeemed at the election of the
Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. 
  
 Section 1105.  Deposit of Redemption Price. 
  
 Prior to any Redemption Date, the
Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1006) an amount of money sufficient to pay the Redemption Price of, and (except
if the Redemption Date shall be an Interest Payment Date) accrued interest on, all the Securities which are to be redeemed on that date. 

 
 72 

  
 Section 1106.  Securities Payable on Redemption Date. 
  
 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and
payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that installments of interest whose Stated
Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to their terms and the
provisions of Section 307. 
  
 If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
  
 Section 1107.  Securities Redeemed in Part. 
  
 Any Security which is to be
redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by,
the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series, of
any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security surrendered; provided, that if a Global Security is so surrendered,
such new Security so issued shall be a new Global Security in a denomination equal to the unredeemed portion of the principal of the Global Security so surrendered. 
  
 Section 1108.  Optional Redemption Due to Changes in Tax Treatment. 
  
 With respect to each series of Securities, if, as the result of any change in or any amendment to the laws of the United Kingdom or Canada, or of any political subdivision or taxing authority thereof or therein, affecting
taxation, or any change in an application or interpretation of such laws either generally or in relation to any particular series of Securities, which change or amendment to such laws becomes effective on or after the date specified for such series
pursuant to Section 301(7) or which change in application or interpretation is notified to the Company or the Guarantor on or after such date, it is determined by the Company or the Guarantor that the Company or the Guarantor would be required to
make payments of additional amounts (i) in respect of interest on the next succeeding Interest Payment Date pursuant to the terms of the Securities or the Guarantees endorsed on the Securities of such series, as applicable, assuming a payment in
respect of such interest were required to be made pursuant thereto on such Interest Payment Date, or (ii) in respect of the principal of any series of Original Issue Discount 

 
 73 

 Securities at the date of such determination pursuant to the terms of the Securities or the Guarantees endorsed on the Securities of such
series, as applicable, assuming a payment in respect of such principal were required to be made pursuant thereto on such date, in either case the Company or the Guarantor may, at its option, redeem such series of Securities in whole at any time
(except in the case of a series of Securities that has a variable rate of interest, which may be redeemed on any Interest Payment Date) at a Redemption Price equal to 100 percent of the principal amount thereof plus accrued interest to the date
fixed for redemption (except in the case of any series of Outstanding Original Issue Discount Securities which may be redeemed at the Redemption Price specified by the terms of such series). Prior to any redemption of such a series of Securities
pursuant to this Section, the Company or the Guarantor shall provide the Trustee with an Opinion of Counsel that the conditions precedent to the right of the Company or the Guarantor to redeem such series of Securities pursuant to this Section have
occurred. Such Opinion of Counsel shall be based on the laws and application and interpretation thereof in effect on the date of such opinion or to become effective on or before the next succeeding Interest Payment Date. 
  
 ARTICLE TWELVE 
  
 SINKING FUNDS 
  
 Section 1201.  Applicability of Article.

  
 The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a
series except as otherwise specified as contemplated by Section 301 for Securities of such series. 
  
 The minimum
amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of Securities
of any series is herein referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each
sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 
  
 Section 1202.  Satisfaction of Sinking Fund Payments with Securities. 
  
 The
Company (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of
such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such
series required to be made pursuant to the terms of such Securities as provided for by the terms of such series, provided, however, that such Securities have not been previously so credited. Such Securities shall be received and credited for
such purpose by the Trustee at the 

 
 74 

 Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment
shall be reduced accordingly. 
  
 Section 1203.  Redemption of Securities for Sinking Fund. 
  
 Not less than 45 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any,
which is to be satisfied by delivering and crediting Securities of that series pursuant to Section 1202 and stating the basis for such credit and that such Securities have not been previously so credited and will also deliver to the Trustee any
Securities to be so delivered. Not more than 60 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of
the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated
in Sections 1106 and 1107. 
  
 ARTICLE THIRTEEN 
  
 GUARANTEES 
  
 Section
1301.  Guarantee. 
  
 The Guarantor hereby unconditionally guarantees to each Holder of a Security
of each series authenticated and delivered by the Trustee and to the Trustee the due and prompt payment of the principal of (and premium, if any) and interest on such Security and the due and prompt payment of any sinking fund payments provided for
pursuant to the terms of such Security, when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, according to the terms of such Security and of this
Indenture. In case of the failure of the Company punctually to make any such principal, premium, interest or sinking fund payment, the Guarantor hereby agrees to cause any such payment to be made promptly when and as the same shall become due and
payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, and as if such payment were made by the Company. 
  
 The Guarantor hereby agrees that its obligations hereunder shall be as if it were principal debtor and not merely surety, and shall be absolute and unconditional, irrespective of, and shall be
unaffected by, any invalidity, irregularity or unenforceability of any Security of any series or this Indenture, any failure to enforce the provisions of any Security of any series or this Indenture, or any waiver, modification or indulgence granted
to the Company with respect thereto, by the Holder of any Security of any series or the Trustee, or any other circumstance which may otherwise constitute a legal or equitable discharge of a surety or guarantor; provided however, that,
notwithstanding the 

 
 75 

 foregoing, no such waiver, modification or indulgence shall, without the consent of the Guarantor, increase the principal amount of a Security
or the interest rate thereon or increase any premium payable upon redemption thereof. The Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Company, any right
to require a proceeding first against the Company, protest or notice with respect to any Security or the indebtedness evidenced thereby or with respect to any sinking fund payment required pursuant to the terms of a Security issued under this
Indenture and all demands whatsoever, and covenants that this Guarantee will not be discharged with respect to any Security except by payment in full of the principal of (and premium, if any) and interest on such Security. The Guarantees shall
constitute guarantees of payment and not of collection. 
  
 Section 1302.  Subrogation. 
  
 The Guarantor shall be subrogated to all rights of the Holder of a Security against the Company in respect of any amounts paid to such
Holder by the Guarantor pursuant to the provisions of this Guarantee; provided, however, that the Guarantor shall not be entitled to enforce, or to receive any payments arising out of or based upon, such right of subrogation until the
principal of (and premium, if any) and interest on all Securities of the relevant series shall have been paid in full. 
  
 Section
1303.  Execution and Delivery of Guarantees. 
  
 To evidence its guarantee set forth in Section
1301, the Guarantor hereby agrees to execute the Guarantee in a form established pursuant to Section 205, to be endorsed on each Security authenticated and delivered by the Trustee. Each such Guarantee shall be signed manually or by facsimile by a
person duly authorized thereto by Board Resolution of the Guarantor. 
  
 Guarantees bearing the facsimile signature
of any individual who was at any time such an authorized person of the Guarantor shall bind the Guarantor, notwithstanding that such individual shall have ceased to be such an authorized person prior to the authentication and delivery of the
Securities upon which such Guarantees are endorsed or was not such an authorized person at the date of such Securities. 
  
 The delivery of any Security by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Guarantee endorsed thereon on behalf of the Guarantor. 
  
 * * * 
  
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

 
 76 

  
 IN WITNESS WHEREOF, the Company, the
Guarantor and the Trustee hereto have caused this Indenture to be duly executed, all as of the day and year first above written. 
  
 
	 BP CANADA FINANCE COMPANY
 
	 
	 By:
 	 	 /s/  Glenn G. Wickerson
 

	 Name:
 	 	 Glenn G. Wickerson
 
	 Title:
 	 	 Vice President and Treasurer
 

 
  
 BP p.l.c. 
  
 
	 
	 By    
 	 	 /s/ Gary A. Admans    
 

	 Name:
 	 	 Gary A. Admans
 
	 Title:
 	 	 Senior Capital Markets Executive
 

 
  
 JPMORGAN CHASE
BANK, AS TRUSTEE 
  
 
	 
	 By    
 	 	 /s/ William G. Keenan    
 

	 Name:
 	 	 William G. Keenan
 
	 Title:
 	 	 Assistant Vice President
 

 

 
 77<PAGE>

                                                                 Exhibit 10 (a)
                            ALBERTO-CULVER COMPANY

                           MANAGEMENT INCENTIVE PLAN

               (as amended and restated through October 1, 2002)

1. Establishment. Alberto-Culver Company and its subsidiaries hereby establish
   the Management Incentive Plan ("MIP") for key salaried employees of the
   Company. The MIP provides for annual awards to be made to Participants based
   upon financial performance and achievement of Individual Bonus Objectives.
   This MIP is established as an unfunded, non-qualified incentive compensation
   plan intended for the benefit of employees who are among a select group of
   management and/or highly compensated participants. Nothing contained in this
   MIP and no action taken pursuant to the provisions of this MIP shall create
   or be construed to create a trust of any kind, or a fiduciary relationship
   between the Company and the Participant, his designated beneficiary or any
   other person. Any funds which may be invested under the provisions of this
   MIP shall continue for all purposes to be a part of the general assets of
   the Company and no person other than the Company shall by virtue of the
   provisions of this MIP have any interest in such funds. To the extent that
   any person acquires a right to receive payments from the Company under this
   MIP, such right shall be no greater than the right of any unsecured general
   creditor of the Company.

2. Purpose. The purpose of the MIP is to attract and retain in the employ of
   the Company persons possessing outstanding management skills and competence
   who will contribute substantially to the success of the Company. The MIP is
   intended to provide incentives to such persons to exert their maximum
   efforts on behalf of the Company by rewarding them with additional
   compensation when the Company or Profit Center and/or the Participant have
   achieved the financial performance and Individual Business Objectives,
   respectively, provided for in the MIP.

3. Effective Date and Performance Periods. The effective date of the amended
   and restated MIP is October 1, 2002. The Plan Year shall be the 12
   consecutive-month period ending September 30 of each year. The MIP will
   continue in effect until and unless terminated by the Board of Directors.

4. Definitions. The definition of key terms are as follows:

    a. "Base Salary" means the base salary, as set by the Company, paid to the
       Participant during the Plan Year, exclusive of any amounts payable under
       bonus and incentive plans, severance plans, option plans, and any other
       benefit or welfare plan of the Company now or hereafter existing.

    b. "Bonus Award Opportunity" means 200% of Base Salary.

    c. "Change in Control" shall have the meaning set forth in Section 14.d.1.

<PAGE>

    d. "Committee" means the Compensation Committee of the Board of Directors
       of the Company or, if any member of the Compensation Committee is not
       (i) an "outside director" within the meaning of Section 162(m) of the
       Internal Revenue Code of 1986 and the rules and regulations thereunder
       or (ii) a "non-employee director" within the meaning of Section 16 of
       the Securities Exchange Act of 1934 and the rules and regulations
       thereunder ("Section 16"), the Committee shall set up a subcommittee
       comprised solely of outside directors and non-employee directors for
       purposes of all matters arising under this MIP involving "officers"
       within the meaning of Rule 16a-1(f) under Section 16 ("Executive
       Officer") and Covered Employees as defined herein.

    e. "Company" means Alberto-Culver Company or a Subsidiary.

    f. "Covered Employee" means a Participant who is a "covered employee"
       within the meaning of Section 162(m) of the Internal Revenue Code of
       1986 and the rules and regulations thereunder during the Plan Year at
       issue.

    g. "Employee" means any person, including an officer or director, who is
       employed on a permanent basis by, and receives a regular salary from,
       the Company.

    h. "Exempt Person" and "Exempt Persons" shall have the meaning set forth in
       Section 14.d.2.

    i. "Incumbent Board" shall have the meaning set forth in Section 14.d.3.

    j. "Individual Business Objectives" means the objectives as set forth in a
       letter of recommendation prepared by the Participant and agreed upon by
       (i) the Chairman, any Vice Chairman or the President of the Company,
       (ii) the President of Alberto-Culver Consumer Products Worldwide or
       Sally Beauty Company, Inc. or (iii) the Committee.

    k. "Participant" means any Employee of the Company who has been selected to
       participate in the MIP.

    l. "Plan Year" shall be the Company's fiscal year for financial reporting
       purposes (i.e., the 12 consecutive-month period ended September 30).

    m. "Profit Center" means a division or Subsidiary of the Company which is
       responsible for preparing and submitting annual sales and pre-tax profit
       (loss) objectives.

    n. "Subsidiary" means any corporation in which the Company owns (directly
       or indirectly) 50% or more of the outstanding stock entitled to vote for
       directors.

                                      2

<PAGE>

5. Eligibility. Participation in the MIP is limited to key salaried Employees
   of the Company and its Subsidiaries. Each Plan Year, the Committee shall
   designate those eligible Employees who will participate in the MIP during
   that Plan Year. In the event an employee who would be eligible to
   participate in the MIP is hired after the beginning of the Plan Year, the
   Committee may, but need not, designate such employee as a Participant for
   such Plan Year; provided, however, that no employee shall be eligible to
   participate in the MIP for any Plan Year in which he or she was employed
   with the Company for less than four months. In the event a new employee is
   designated as a Participant, the Committee shall notify the new Participant
   of his or her financial performance award opportunities and his or her
   Individual Business Objectives on which any cash award will be based. The
   Committee shall make such adjustments to the new Participant's actual cash
   award as the Committee deems necessary or appropriate to take into account
   the fact that such Participant was not employed for the entire Plan Year.

6. Award Opportunities. Actual awards can range from 0% to 100% of the Bonus
   Award Opportunity (a maximum of 200% of Base Salary or $4.0 million,
   whichever is less) based on actual performance compared to the performance
   objectives established for the Plan Year. The total Bonus Award Opportunity
   will relate to the financial performance of the Company, one or more Profit
   Centers, or Individual Business Objectives or any combination thereof.
   Notwithstanding anything to the contrary hereinabove set forth in this
   Section 6 or in Section 8 or 9 of the MIP, but subject in all respects to
   Sections 7 and 14 of the MIP, any Bonus Award Opportunity and the amount of
   any annual award, other than a Change in Control Award (as such term is
   defined in Section 14.b of the MIP), payable to any Participant other than a
   Covered Employee may be (i) increased or decreased by up to 25% of such
   Participant's Base Salary as the Committee, in its sole discretion, shall
   determine based on such factors and circumstances as the Committee shall
   deem appropriate or (ii) decreased by such amount as the Committee, in its
   sole discretion, shall determine in the event a Participant (a) is found to
   have violated any policy contained in the applicable Compliance Policy
   Manual, (b) is placed on probation at any time during the Plan Year, (c) has
   engaged in purposeful diversion, and/or (d) has engaged in activities
   intended to enhance current Plan Year awards to the detriment of future
   periods (e.g. inadequate marketing expenditures that artificially increase
   short-term profits, unnecessary year end loading shipments or promotions
   that build sales for the short-term, etc.)

7. Maximum Award Payable. The maximum award payable under the MIP to a single
   Participant may not exceed the lesser of $4.0 million or 200% of such
   Participant's Base Salary per fiscal year of the Company.

8. Financial Performance Award Opportunities. Each Participant will be assigned
   financial performance award opportunities for the Company and/or the Profit
   Center for the Plan Year. Financial performance award opportunities will be
   based upon sales, pre-tax earnings, and, except for Covered Employees, any
   other measurements the Committee shall deem appropriate.

                                      3

<PAGE>

   Each Participant will be notified in writing ("Participant Letter") of his
   or her Bonus Award Opportunity, the Participant's financial performance
   opportunities set for the Company and/or his or her Profit Center, if
   applicable, and the portion of his or her Bonus Award Opportunity allocated
   to the Participant's Individual Business Objectives, if any. The Participant
   Letter will specify the percentage of the Bonus Award Opportunity that will
   be earned based upon the extent to which such objectives are achieved,
   subject to adjustment pursuant to Section 6.

   At the end of each Plan Year, the Committee shall certify the awards that
   have been attained by each Participant. Except as otherwise provided in
   Section 14 hereof, no award may be payable to a Participant prior to such
   certification.

   The Committee shall have the sole authority to set all financial performance
   opportunities and to modify such financial performance opportunities during
   the Plan Year as deemed appropriate; provided, however, that the Committee
   may not modify the performance objectives during a Plan Year to increase the
   award payable to a Covered Employee.

9. Individual Business Objectives. Except for Covered Employees, the Committee,
   at its sole discretion, may allocate a portion of a Participant's Bonus
   Award Opportunity for the Plan Year to the Participant's Individual Business
   Objectives. Subject to Section 7, awards for the achievement of these
   objectives can range from 0% to 150% of the Bonus Award Opportunity assigned
   thereto. The Committee shall determine the actual level of performance
   achieved by Participants for their Individual Business Objectives.

10. Administration--Powers and Duties of the Committee.

   a. Administration. The Committee shall be responsible for the administration
   of the MIP. The Committee, by majority action, is authorized to interpret
   the MIP, to prescribe, amend, and rescind rules and regulations relating to
   the MIP, to provide for conditions and assurances deemed necessary or
   advisable to protect the interest of the Company and to make all other
   determinations necessary or advisable for the administration of the MIP.
   Determinations, interpretations, or other actions made or taken by the
   Committee pursuant to the provisions of the MIP shall be final and binding
   and conclusive for all purposes and upon all persons whomsoever. No member
   of the Committee shall be liable for any action or determination made in
   good faith with respect to the MIP or any annual award made hereunder.

   b. Amendment, Modification, and Termination of MIP. The Board of Directors
   or the Committee may at any time terminate, and from time to time may amend
   or modify the MIP, except that no amendment by the Committee shall increase
   the amount of an annual award payable to a Covered Employee for performance
   achieved during the Plan Year of such amendment or any previous Plan Year or
   allow a member of the Committee to be a Participant. Termination of the MIP
   shall not be effective with respect to the Plan Year in which it occurs.

                                      4

<PAGE>

11. Payment of Annual Award.

   a. Payment of Award. The Company shall pay the annual award to the
   Participant after the award has been determined and certified by the
   Committee, but no later than December 15th of each year.

   b. Changes in Employment Status. Except as set forth in the following
   sentence, if a Participant's employment terminates during a Plan Year or
   after the end of the Plan Year, but prior to the payment of the annual
   award, no award will be payable for that Plan Year. If the Participant's
   employment terminates during the Plan Year or after the end of the Plan Year
   but prior to the payment of the annual award due to death, disability or
   retirement, the Committee shall have the sole authority and discretion to
   award a Participant (or his or her beneficiary) a portion of the annual
   award that would otherwise be payable with respect to that Plan Year.

   c. Deferral of Award. A Participant may, in writing filed with the Committee
   within 30 days following the receipt of his or her Participant Letter (but
   in no event later than December 15, of the applicable Plan Year), elect to
   defer payment of all or a portion of his or her annual cash award so that it
   shall be paid in not more than ten equal annual installments commencing the
   January 15th, or such other date selected by the Participant and approved by
   the Committee, following his or her (i) retirement or termination of
   employment with the Company or (ii) attainment of the age specified by the
   Participant. Any election to defer until the attainment of a specified age
   shall have a payment commencement date no sooner than three years from the
   date of the applicable Participant Letter. Such election to defer shall
   designate the number of annual installments and the timing of such
   installments and shall, except as provided below, be irrevocable. If such
   election fails to specify a time for payment, such payment shall be paid in
   a lump sum on the January 15th following the Participant's retirement or
   termination of employment with the Company. The deferral of any annual award
   shall not be less than $10,000, which amount may be changed by the Committee
   from time to time in its sole discretion.

   The Participant may request to receive an early distribution of all or a
   portion of any amounts deferred hereunder. A single-sum payment will be paid
   to Participants who request such distribution. An early distribution paid to
   a Participant shall cause the Participant to forfeit all right, title or
   claim to an amount equal to 10% of such early distribution. Such 10% penalty
   shall first reduce the remaining balance of the amounts deferred hereunder
   immediately following the early distribution and then shall reduce the early
   distribution payable to the Participant.

   Notwithstanding the preceding paragraph, any request for an early
   distribution on account of an "unforeseeable emergency" shall not bear the
   10% early distribution penalty. For purposes of this Section 11(c), an
   unforeseeable emergency is a severe financial hardship to the Participant
   resulting from a sudden and unexpected illness or accident of the
   Participant or of a dependent (as defined in Section 152(a) of the Internal
   Revenue Code) of the

                                      5

<PAGE>

   Participant, loss of the Participant's property due to casualty, or other
   similar extraordinary and unforeseeable circumstances beyond the control of
   the Participant. The determination of whether a request for an early
   distribution is on account of an unforeseeable emergency shall be made by
   the sole discretion of the Committee, who shall apply the standards of
   Section 457 of the Internal Revenue Code.

   Any early distribution on account of an unforeseeable emergency may not be
   made to the extent such hardship is or may be relieved by (i) reimbursement
   or compensation by insurance or otherwise, (ii) liquidation of the
   Participant's assets, to the extent the liquidation of such assets would not
   itself cause severe financial hardship, (iii) obtaining a loan either within
   the provisions of any benefit plan of the Company or its subsidiaries or
   from a third party lender or (iv) cessation of deferrals under the MIP.
   Early distributions because of an unforeseeable emergency will only be
   permitted to the extent reasonably needed to satisfy the emergency need in
   addition to any amounts necessary to pay any federal, state or local income
   taxes reasonably anticipated to result from the early distribution.

   d. Interest Payable on Deferred Payments. Any annual award to which a
   Participant shall have elected deferred payment hereunder shall bear
   interest, compounded annually, at the prime rate of interest as such rate is
   set, from time to time, by Bank One, NA or its successor, but in no event
   shall such rate exceed 10%. A separate accounting shall be maintained for
   each Participant with respect to the deferred payments hereunder.

   e. Investment in Alberto-Culver Company Stock. As an additional alternative
   to lump sum cash payment, a Participant may elect, within 30 days following
   the receipt of his or her Participant Letter (but in no event later than
   December 15, of the applicable Plan Year), to receive all or a portion of
   his or her annual award, less withholding taxes, in Alberto-Culver Company
   Class B Common Stock, but this shall not constitute a deferred payment for
   purposes of this MIP. Awards payable, in whole or in part, in Class B Common
   Stock shall be the number of shares of Class B Common Stock that a
   Participant could have purchased based upon the closing price of such shares
   on the last trading day of the applicable fiscal year. Participants who had
   made an election before October 1, 2002 (the effective date of the amended
   and restated MIP) to receive all or a portion of his or her annual award,
   less withholding taxes, in Alberto-Culver Company Class A common stock,
   shall not be affected by the amendments made to this Section 11(e) and shall
   receive Class A common stock under the terms of Section 11(e) prior to
   October 1, 2002.

12. Beneficiary. If a Participant dies before receiving the annual award and/or
    any previously deferred awards to which he or she is entitled to under the
    MIP, such awards shall be paid to such person whom the Participant has
    designated by an instrument in writing, and in a form acceptable to the
    Board of Directors, executed by the Participant and delivered to the Board
    of Directors in care of the Secretary of the Company during the
    Participant's lifetime. Such designation may be revoked or modified by the
    Participant from time to time by an instrument in writing in a form
    acceptable to the Board of Directors, executed by the Participant and
    delivered to the Board of Directors in care of the Secretary of the Company

                                      6

<PAGE>

   during the Participant's lifetime. If no such designation is delivered to
   the Board of Directors, or if no such designated beneficiary is then living,
   the annual award shall be paid to the surviving spouse of the Participant,
   or in the event there is no such surviving spouse, to the estate of the
   Participant.

13. Withholding Payroll Taxes. To the extent required by the laws in effect at
    the time payments are made or earned, the Company shall withhold from the
    annual cash, stock or deferred award made hereunder an amount necessary to
    satisfy any taxes required to be withheld for federal, state, or local
    governmental purposes.

14. Change in Control.

   a. Application. Notwithstanding any other provision of the Plan, the
   provisions of this Section 14 shall apply on and after the date that a
   Change in Control (as defined in Section 14.d.1.) occurs. Any award payable
   to a Participant pursuant to this Section 14 for a Plan Year shall be in
   lieu of any award otherwise payable under the Plan.

   b. Determination of Awards. Upon the occurrence of a Change in Control, each
   Participant shall be eligible to receive an award (a "Change in Control
   Award") equal to an amount calculated by multiplying (i) the bonus award
   percentage obtained by taking (a) the financial performance of the Company
   or Profit Center, as the case may be, from the start of the applicable
   fiscal year to the date of the Change in Control (or, in the case of the
   date of the Change in Control not being as of a month end, to the end of the
   month immediately preceding the date of the Change in Control) and comparing
   it to the performance during the same period in the preceding fiscal year
   and assuming such financial performance (increases or decreases in sales and
   pre-tax earnings or other relevant measurements) has been achieved for the
   full fiscal year plus (b) the achievement of 100% of the Participant's
   Individual Business Objectives, if any, for such Plan Year by (ii) the Base
   Salary of the Participant up to and including the date of the Change in
   Control. The amount of any such Change in Control Award shall not be subject
   to revision or adjustment.

   c. Payment of Awards.

       1. Payment. Notwithstanding anything in this Plan to the contrary, each
       Participant (or Beneficiary thereof) shall be paid the Change in Control
       Award, determined pursuant to Section 14.b., no later than 30 days after
       the date of the occurrence of the Change in Control (the "Payment
       Date"), in the form of a single lump sum cash payment. Such award shall
       not be subject to forfeiture for any reason.

       2. Interest on Late Payment. If any amount to be paid to a Participant
       (or Beneficiary thereof) pursuant to Section 14.c.1. is not paid in full
       by the Payment Date, then the Company shall also pay to that Participant
       (or Beneficiary) interest on the unpaid amount for the period beginning
       on the Payment Date and ending on the date that the amount is paid in
       full. The amount of interest to be paid to a Participant (or

                                      7

<PAGE>

       Beneficiary thereof) pursuant to this Section 14.c.2. shall be computed
       using an annual rate equal to two percent above the prime rate from time
       to time in effect, as published under "Money Rates" in The Wall Street
       Journal, but in no event higher than the maximum legal rate permissible
       under applicable law. Payments received by a Participant (or Beneficiary
       thereof) under the Plan shall be credited first against accrued interest
       until all accrued interest is paid in full before any such payment is
       credited against the amount payable pursuant to Section 14.c.1.

   d. Definitions.

       1. The term "Change in Control" means:

          A. The occurrence of any one or more of the following events:

              (i) The acquisition by any individual, entity or group (a
              "Person"), including any "person" within the meaning of Section
              13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as
              amended (the "Exchange Act"), of beneficial ownership within the
              meaning of Rule 13d-3 promulgated under the Exchange Act of both
              (x) 20% or more of the combined voting power of the then
              outstanding securities of the Company entitled to vote generally
              in the election of directors (the "Outstanding Company Voting
              Securities") and (y) combined voting power of Outstanding Company
              Voting Securities in excess of the combined voting power of the
              Outstanding Company Voting Securities held by the Exempt Persons
              (as such term is defined in Section 14.d.2.); provided, however,
              that a Change in Control shall not result from an acquisition of
              Company Voting Securities:

                 (a) directly from the Company, except as otherwise provided in
                 Section 14.d.1.B(i);

                 (b) by the Company, except as otherwise provided in Section
                 14.d.1.B(ii);

                 (c) by an Exempt Person;

                 (d) by an employee benefit plan (or related trust) sponsored
                 or maintained by the Company or any corporation controlled by
                 the Company; or

                 (e) by any corporation pursuant to a reorganization, merger or
                 consolidation involving the Company, if, immediately after
                 such reorganization, merger or consolidation, each of the
                 conditions described in clauses (a) and (b) of Section

                                      8

<PAGE>

                 14.d.1.A(iii) shall be satisfied.

              (ii) The cessation for any reason of the members of the Incumbent
              Board (as such term is defined below) to constitute at least a
              majority of the Board of Directors.

              (iii) Consummation of a reorganization, merger or consolidation
              unless, in any such case, immediately after such reorganization,
              merger or consolidation:

                 (a) more than 60% of the combined voting power of the then
                 outstanding securities of the corporation resulting from such
                 reorganization, merger or consolidation entitled to vote
                 generally in the election of directors is then beneficially
                 owned, directly or indirectly, by all or substantially all of
                 the individuals or entities who were the beneficial owners of
                 the combined voting power of all of the Outstanding Company
                 Voting Securities immediately prior to such reorganization,
                 merger or consolidation; and

                 (b) at least a majority of the members of the board of
                 directors of the corporation resulting from such
                 reorganization, merger or consolidation were members of the
                 Incumbent Board at the time of the execution of the initial
                 agreement or action of the Board of Directors providing for
                 such reorganization, merger or consolidation.

              (iv) Consummation of the sale or other disposition of all or
              substantially all of the assets of the Company other than (x)
              pursuant to a tax-free spin-off of a subsidiary or other business
              unit of the Company or (y) to a corporation with respect to
              which, immediately after such sale or other disposition:

                 (a) more than 60% of the combined voting power of the then
                 outstanding securities thereof entitled to vote generally in
                 the election of directors is then beneficially owned, directly
                 or indirectly, by all or substantially all of the individuals
                 and entities who were the beneficial owners of the combined
                 voting power of all of the Outstanding Company Voting
                 Securities immediately prior to such sale or other
                 disposition; and

                 (b) at least a majority of the members of the board of
                 directors thereof were members of the Incumbent Board at the
                 time of the execution of the initial agreement or action of
                 the Board of Directors providing for such sale or other
                 disposition.

                                      9

<PAGE>

              (v) Approval by the stockholders of the Company of a plan of
              complete liquidation or dissolution of the Company.

          B. Notwithstanding the provisions of Section 14.d.1.A(i):

              (i) no acquisition of Company Voting Securities shall be subject
              to the exception from the definition of Change in Control
              contained in clause (a) of Section 14.d.1.A(i) if such
              acquisition results from the exercise of an exercise, conversion
              or exchange privilege unless the security being so exercised,
              converted or exchanged was acquired directly from the Company; and

              (ii) for purposes of clause (b) of Section 14.d.1.A(i), if any
              Person (other than the Company, an Exempt Person or any employee
              benefit plan (or related trust) sponsored or maintained by the
              Company or any corporation controlled by the Company) shall, by
              reason of an acquisition of Company Voting Securities by the
              Company, become the beneficial owner of (x) 20% or more of the
              combined voting power of the Outstanding Company Voting
              Securities and (y) combined voting power of Outstanding Company
              Voting Securities in excess of the combined voting power of the
              Outstanding Company Voting Securities held by the Exempt Persons,
              and such Person shall, after such acquisition of Company Voting
              Securities by the Company, become the beneficial owner of any
              additional Outstanding Company Voting Securities and such
              beneficial ownership is publicly announced, such additional
              beneficial ownership shall constitute a Change in Control.

       2. The term "Exempt Person" (and collectively, the "Exempt Persons")
       means:

          A. Leonard H. Lavin or Bernice E. Lavin;

          B. any descendant of Leonard H. Lavin and Bernice E. Lavin or the
          spouse of any such descendant;

          C. the estate of any of the persons described in Section 14.d.2.A. or
          B.;

          D. any trust or similar arrangement for the benefit of any person
          described in Section 14.d.2.A. or B.; or

          E. the Lavin Family Foundation or any other charitable organization
          established by any person described in Section 14.d.2.A. or B.

       3. The term "Incumbent Board" means those individuals who, as of October
       24, 2002, constitute the Board of Directors, provided that:

          A. any individual who becomes a director of the Company subsequent to
          such

                                      10

<PAGE>

          date whose election, or nomination for election by the Company's
          stockholders, was approved either by the vote of at least a majority
          of the directors then comprising the Incumbent Board or by the vote
          of at least a majority of the combined voting power of the
          Outstanding Company Voting Securities held by the Exempt Persons
          shall be deemed to have been a member of the Incumbent Board; and

          B. no individual who was initially elected as a director of the
          Company as a result of an actual or threatened solicitation by a
          Person other than the Board or the Exempt Persons for the purpose of
          opposing a solicitation by any other Person with respect to the
          election or removal of directors, or any other actual or threatened
          solicitation of proxies or consents by or on behalf of any Person
          other than the Board of Directors or the Exempt Persons shall be
          deemed to have been a member of the Incumbent Board.

15. No Employment Rights. Nothing in this MIP shall interfere with or limit in
    any way the right of the Company to terminate any Participant's employment
    at any time for any reason, or confer upon any Participant any right to
    continue in the employ of the Company or its Subsidiaries.

16. Non-Assignability. Except as provided herein upon the death of a
    Participant, no right or interest of a Participant in any annual award
    shall be (a) assignable or transferable in whole or in part, either
    directly or by operation of law or otherwise; (b) subject to any obligation
    or liability of any person; or (c) subject to seizure or assignment or
    transfer through execution, levy, garnishment, attachment, pledge,
    bankruptcy, or in any other manner.

17. Stockholder Adoption. The MIP was approved and adopted at the annual
    meeting of stockholders held on January 26, 1995 and re-approved at the
    annual meeting of stockholders held on January 28, 1999. Unless otherwise
    determined by the Board of Directors, the MIP shall be submitted to
    stockholders for re-approval no less often than every five years.

                                      11

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