Document:

Exhibit 10.1

 

CONSENT AGREEMENT

 

This Consent Agreement
(this "Consent Agreement"), dated as of July 16, 2019, is by and among Xenetic Biosciences, Inc., a Nevada corporation
(the “Company”), and each of the purchasers identified on the signature pages hereto (each, including its successors
and assigns, a "Purchaser" and collectively, the "Purchasers").

 

Reference is made to that
certain Securities Purchase Agreement (the “Agreement”) dated as of March 5, 2019, among the Company and the
Purchasers.

 

WHEREAS, the Board of
Directors of the Company (the “Board”) has determined to enter into financing transaction (the "Financing"),
pursuant to which the Company will issue warrants (the "Financing Warrants");

 

WHEREAS, the Financing
Warrants include certain terms that may cause the issuance of such warrants to be deemed a Variable Rate Transaction (as defined
in the Agreement);

 

WHEREAS, the Agreement
prohibits the Company from effecting or entering into an agreement to effect any issuance by the Company or any of its subsidiaries
of common stock or common stock equivalents (or a combination of units thereof) involving a Variable Rate Transaction, and

 

WHEREAS, for the avoidance
of doubt, the Company now seeks the written consent of the Purchasers before the Company undertakes the Financing that constitutes
a Variable Rate Transaction.

 

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenant contained in this Consent Agreement, and for other good and valuable consideration the receipt and adequacy
of which are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE
I.

DEFINITIONS

 

Terms not otherwise defined
in this Consent Agreement shall have the meanings ascribed to them in the Agreement.

 

ARTICLE
II.

CONSENT AND COVENANTS

 

2.1             
Consent. Purchasers hereby consent to the Financing that constitutes a Variable Rate Transaction (the “Consent”).

 

2.2             
Consideration. In consideration of the Purchasers’ Consent, if the Company consummates the Financing,
the Company shall (i) no later than two Trading Days following the date of consummation of the Financing, issue to each Purchaser
that number of shares of the Company’s Common Stock set forth beneath such Purchaser's name on the signature page of this
Consent Agreement (the “Consent Shares”), and (ii) adjust the exercise price of that certain warrant (each a
"Warrant") issued to each Purchaser in connection with the Company's reverse stock split on June 25, 2019, seven
Trading Days after the closing date of the Financing to an exercise price per share equal to the lowest VWAP of the Company's common
stock calculated during the five Trading Day period beginning on, and including, the Trading Day immediately following the public
announcement of the pricing of the Financing.

 

2.3             
Filing of Form 8-K. Before 9:00 am ET on July 17, 2019, the Company shall issue a Current Report on Form 8-K,
reasonably acceptable to the Purchasers disclosing the material terms of the transactions contemplated hereby, which shall include
this form of Consent Agreement (the “8-K Filing”). From and after the issuance of the 8-K Filing, the Company
represents to the Purchasers that the Purchasers shall not be in possession of any material, nonpublic information received from
the Company, any of its Subsidiaries (as defined below) or any of their respective officers, directors, employees or agents, that
is not disclosed in the 8-K Filing. In addition, effective upon the filing of the 8-K Filing, the Company acknowledges and agrees
that any and all confidentiality or similar obligations under any agreement, whether written or oral, between the Company, any
of its Subsidiaries or any of their respective officers, directors, employees or agents, on the one hand, and the Purchasers or
any of their Affiliates, on the other hand, shall terminate. As used herein, “Subsidiary” means any subsidiary of the
Company, and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the
date hereof.

 

 

 

    
	 	1	 

     

    

 

2.4             
Registration Rights. On or prior to the sixtieth (60th) calendar day following the date of issuance
of the Consent Shares, the Company shall prepare and file with the Commission a registration statement (the “Registration
Statement”) covering (i) the resale of all of the Consent Shares, (ii) all of the shares of Common Stock underlying all
the Warrants issued to the Purchasers pursuant to the Agreement and (iii) all of the shares of Common Stock underlying all of the
Warrants issued to the Purchasers in connection with the reverse stock split on June 25, 2019, each that are not then registered
on an effective Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415. The Registration
Statement filed hereunder shall be on Form S-3 (except if the Company is not then eligible to register for resale the Registrable
Securities on Form S-3, in which case such registration shall be on another appropriate form in accordance herewith); provided,
however, that no Holder shall be required to be named as an “underwriter” without such Holder’s express
prior written consent. The Company shall use its best efforts to cause the Registration Statement filed under this Agreement to
be declared effective under the Securities Act as promptly as possible after the filing thereof, but in any event no later than
the 90th calendar day following the date of issuance of the Consent Shares (or, in the event of a “full review” by
the Commission, the 120th calendar day following the date of issuance of the Consent Shares); provided, however,
that in the event the Company is notified by the Commission that the Registration Statements will not be reviewed or is no longer
subject to further review and comments, the fifth Trading Day following the date on which the Company is so notified if such date
precedes the dates otherwise required above, provided, further, if any of such dates falls on a day that is not a
Trading Day, then the next succeeding Trading Day.

 

2.5             
Legend Removal. The Company acknowledges and agrees that a Purchaser may from time to time pledge pursuant
to a bona fide margin agreement with a registered broker-dealer or grant a security interest in some or all of the Consent Shares
to a financial institution that is an “accredited investor” as defined in Rule 501(a) under the Securities Act and,
if required under the terms of such arrangement, such Purchaser may transfer pledged or secured Consent Shares to the pledgees
or secured parties. Such a pledge or transfer would not be subject to approval of the Company and no legal opinion of legal counsel
of the pledgee, secured party or pledgor shall be required in connection therewith. Further, no notice shall be required of such
pledge. At the appropriate Purchaser’s expense, the Company will execute and deliver such reasonable documentation as a pledgee
or secured party of Consent Shares may reasonably request in connection with a pledge or transfer of the Consent Shares, including,
if the Consent Shares are subject to registration pursuant to Section 2.4 above, the preparation and filing of any required prospectus
supplement under Rule 424(b)(3) under the Securities Act or other applicable provision of the Securities Act to appropriately amend
the list of selling stockholders thereunder. Certificates evidencing the Consent Shares shall not contain any legend (including
the legend set forth in Section 3.2(g) hereof): (i) while a registration statement (including the Registration Statement) covering
the resale of such security is effective under the Securities Act, (ii) following any sale of such Consent Shares pursuant to Rule
144, (iii) if such Consent Shares are eligible for sale under Rule 144 or (iv) if such legend is not required under applicable
requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Securities
and Exchange Commission (the “Commission”)). The Company shall cause its counsel to issue a legal opinion to
its transfer agent (“Transfer Agent”) or a Purchaser promptly after the Effective Date (as defined below) if
required by the Transfer Agent to effect the removal of the legend hereunder, or if requested by a Purchaser, respectively. The
Company agrees that following the Effective Date or at such time as such legend is no longer required under this Section 2.5, it
will, no later than the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement
Period (as defined below) following the delivery by a Purchaser to the Company or the Transfer Agent of a certificate representing
Consent Shares, as applicable, issued with a restrictive legend (such date, the “Legend Removal Date”), deliver
or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends.
The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on
transfer set forth in this Section 2.5. Certificates for Consent Shares subject to legend removal hereunder shall be transmitted
by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust
Company System as directed by such Purchaser. As used herein, (a) “Standard Settlement Period” means the standard
settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common
Stock as in effect on the date of delivery of a certificate representing Consent Shares, as applicable, issued with a restrictive
legend, and (b) “Effective Date” means the earliest of the date that (a) the initial Registration Statement
has been declared effective by the Commission, (b) all of the Consent Shares have been sold pursuant to Rule 144 or may be sold
pursuant to Rule 144 or (c) following the one year anniversary of the issuance date of the Consent Shares provided that a holder
of Consent Shares is not an Affiliate of the Company.

 

 

 

    
	 	2	 

     

    

 

ARTICLE
III.

REPRESENTATIONS AND WARRANTIES

 

3.1             
Representations and Warranties of the Company. The Company hereby makes the representations and warranties
set forth below to the Purchasers that as of the date of its execution of this Consent Agreement:

 

(a)               
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and
to consummate the transactions contemplated by this Consent Agreement and otherwise to carry out its obligations hereunder and
thereunder. The execution and delivery of this Consent Agreement by the Company and the consummation by it of the transactions
contemplated hereby have been duly authorized by all necessary action on the part of the Company and no further action is required
by the Company, the Board or its stockholders in connection therewith other than in connection with (i) any filings required by
this Consent Agreement, (ii) such applications for listing of the Consent Shares that are required to be filed with the Nasdaq
Stock Market in the time and manner required thereby, and (iii) such filings as are required to be made under applicable state
securities laws (the “Required Approvals”). This Consent Agreement has been duly executed by the Company and,
when delivered in accordance with the terms hereof will constitute the valid and binding obligation of the Company enforceable
against the Company in accordance with its terms except (i) as limited by general equitable principles and applicable bankruptcy,
insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally,
(ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies
and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

 

(b)              
Organization. The Company is a duly organized and validly existing corporation in good standing under the
laws of the State of Nevada.

 

(c)               
No Conflicts. The execution, delivery, and performance of this Consent Agreement by the Company and the consummation
by the Company of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of
the Company’s certificate or articles of incorporation, bylaws, or other organizational or charter documents, or (ii) conflict
with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the
creation of any lien upon any of the properties or assets of the Company, or give to others any rights of termination, amendment,
acceleration, or cancellation (with or without notice, lapse of time or both) of, any material agreement, credit facility, debt
or other material instrument (evidencing Company debt or otherwise) or other material understanding to which the Company is a party
or by which any property or asset of the Company is bound or affected, or (iii) subject to the Required Approvals, conflict
with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree, or other restriction of any court
or governmental authority to which the Company is subject (including federal and state securities laws and regulations), or by
which any property or asset of the Company is bound or affected, except in the case of each of clauses (ii) and (iii), such as
would not have or reasonably be expected to result in (i) a material adverse effect on the legality, validity or enforceability
of this Consent Agreement, (ii) a material adverse effect on the results of operations, assets, business or condition (financial
or otherwise) of the Company and its subsidiaries, taken as a whole, or (iii) a material adverse effect on the Company’s
ability to perform in any material respect on a timely basis its obligations under this Consent Agreement (any of (i), (ii) or
(iii), a “Material Adverse Effect”).

 

(d)              
Disclosure. Except with respect to the material terms and conditions of the transactions contemplated by this
Consent Agreement, the Company confirms that neither it nor any other Person acting on its behalf has provided any Purchaser or
their agents or counsel with any information that it believes constitutes or might constitute material, non-public information.
The Company understands and confirms that Purchasers will rely on the foregoing representation in effecting transactions in securities
of the Company. As of the date of this Consent Agreement, all of the disclosure when furnished by or on behalf of the Company to
Purchasers regarding the Company and its Subsidiaries, their respective businesses, and the transactions contemplated hereby, including
but not limited to the disclosure set forth in the SEC Reports, is true and correct in all material respects and does not contain
any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein,
in light of the circumstances under which they were made, not misleading. As used herein, “SEC Reports” means
all reports, schedules, forms, statements and other documents required to be filed by the Company as of the date of this Consent
Agreement with the Commission pursuant to the reporting requirements of the 1934 Act, including all exhibits included therein and
financial statements, notes and schedules thereto and documents incorporated by reference therein.

 

 

 

    
	 	3	 

     

    

 

(e)               
Issuance of Securities. The issuance of the Consent Shares are duly authorized and, upon issuance in accordance
with the terms of this Consent Agreement, the Consent Shares shall be validly issued, fully paid and non-assessable and free from
all preemptive or similar rights, taxes, liens, charges and other encumbrances with respect to the issue thereof, other than restrictions
on transfer under applicable state and federal securities laws and liens or encumbrances created by or imposed by the Purchaser,
with the Purchaser being entitled to all rights accorded to a Purchaser of Common Stock. Assuming the accuracy of each of the representations
and warranties set forth in Section 3.2 of this Consent Agreement, the offer and issuance by the Company of the Consent Shares
is exempt from registration under the Securities Act (as defined below).

 

(f)               
No General Solicitation. Neither the Company, nor any of its Subsidiaries or Affiliates, nor any Person acting
on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation
D) in connection with the offer or sale of the Consent Shares.

 

(g)              
No Integrated Offering. None of the Company, its Subsidiaries or any of their Affiliates, nor any Person acting
on their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security,
under circumstances that would require registration of the issuance of any of the Consent Shares under the Securities Act, whether
through integration with prior offerings or otherwise, or cause this offering of the Consent Shares to require approval of shareholders
of the Company for purposes of the Securities Act or any applicable shareholder approval provisions, including, without limitation,
under the rules and regulations of the Nasdaq Stock Market. None of the Company, its Subsidiaries, their Affiliates nor any Person
acting on their behalf will take any action or steps that would require registration of the issuance of any of the Consent Shares
under the Securities Act or cause the offering of any of the Consent Shares to be integrated with other offerings for purposes
of any such applicable shareholder approval provisions.

 

(h)              
No Disqualification Events. With respect to Consent Shares to be offered and sold hereunder in reliance on
Rule 506(b) under the Securities Act  (“Regulation D Securities”), none of the Company, any of its predecessors,
any affiliated issuer, any director, executive officer, other officer of the Company participating in the offering hereunder, any
beneficial owner of 20% or more of the Company’s outstanding voting equity securities, calculated on the basis of voting
power, nor any promoter (as that term is defined in Rule 405 under the Securities Act) connected with the Company in any capacity
at the time of sale (each, an “Issuer Covered Person” and, together, “Issuer Covered Persons”)
is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities
Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3). The
Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event. The
Company has complied, to the extent applicable, with its disclosure obligations under Rule 506(e), and has furnished to the Purchaser
a copy of any disclosures provided thereunder.

 

3.2             
Representations and Warranties of the Purchaser. Each Purchaser, severally and not jointly, hereby makes the
representations and warranties set forth below to the Company that as of the date of its execution of this Consent Agreement:

 

(a)               
Organization; Due Authorization. The Purchaser is either an individual or an entity duly incorporated
or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation with
full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate
the transactions contemplated by this Consent Agreement and otherwise to carry out its obligations hereunder. The Purchaser represents
and warrants that (i) the execution and delivery of this Consent Agreement by it and the consummation by it of the transactions
contemplated hereby have been duly authorized by all necessary action on its behalf and (ii) this Consent Agreement has been
duly executed and delivered by the Purchaser and constitutes the valid and binding obligation of the Purchaser, enforceable against
it in accordance with its terms.

 

(b)              
Understandings or Arrangements. The Purchaser is acquiring the Consent Shares as principal for its own account
and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution
of such Consent Shares (this representation and warranty not limiting the Purchaser’s right to sell the Consent Shares
pursuant to a registration statement or otherwise in compliance with applicable federal and state securities laws). The Purchaser
is acquiring the Consent Shares hereunder in the ordinary course of its business.

 

 

 

    
	 	4	 

     

    

 

(c)               
No Conflicts. The Purchaser represents and warrants that the execution, delivery and performance of this Consent
Agreement by the Purchaser and the consummation by the Purchaser of the transactions contemplated hereby do not and will not: (i) conflict
with or violate any provision of the Purchaser’s organizational or charter documents, or (ii) conflict with or result
in a violation of any agreement, law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or
governmental authority which would interfere with the ability of the Purchaser to perform its obligations under this Consent Agreement.

 

(d)              
Access to Information. The Purchaser acknowledges that it has had the opportunity to review this Consent Agreement
and the SEC Reports and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to
receive answers from, representatives of the Company concerning the merits and risks of investing in the Consent Shares, the terms
and conditions of the offering of the Consent Shares and the merits and risks of investing in the Consent Shares; (ii) access
to information about the Company and its financial condition, results of operations, business, properties, management and prospects
sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the
Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision
with respect to the investment.

 

(e)               
Purchaser Status. The Purchaser represents and warrants that at the time the Purchaser was offered the
Consent Shares, it was, and as of the date hereof it is an “accredited investor” as defined in Rule 501 under the Securities
Act.

 

(f)               
Knowledge. The Purchaser, either alone or together with its representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Consent Shares and has so evaluated the merits and risks of such investment. The Purchaser is able to bear the economic
risk of an investment in the Consent Shares and, at the present time, is able to afford a complete loss of such investment.

 

(g)              
Legends; Restricted Securities. (a) The Purchaser understands that the Consent Shares are
not, and, except as contemplated in Section 2.4, may never be, registered under the Securities Act of 1933, as amended (the “Securities
Act”), or the securities laws of any state and, accordingly, each certificate, if any, representing such securities shall
bear a legend substantially similar to the following:

 

THIS SECURITY HAS NOT BEEN
REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE
OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH
A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

Each Purchaser, severally
and not jointly with the other Purchasers, agrees with the Company that such Purchaser will sell any Consent Shares pursuant to
either the registration requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption
therefrom, and that if Consent Shares are sold pursuant to a Registration Statement, they will be sold in compliance with the plan
of distribution set forth therein, and acknowledges that the removal of the restrictive legend from certificates representing Consent
Shares as set forth in this Section 2.5 is predicated upon the Company’s reliance upon this understanding.

 

ARTICLE
IV.

MISCELLANEOUS

 

4.1             
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder
shall be made by email to the email address of the Company or each the Purchaser set forth on the applicable signature pages hereto.

 

 

 

    
	 	5	 

     

    

 

4.2             
Survival. All warranties and representations (as of the date such warranties and representations were made)
made herein or in any certificate or other instrument delivered by it or on its behalf under this Consent shall be considered to
have been relied upon by the parties hereto and shall survive the issuance of the Consent Shares. This Consent Agreement shall
inure to the benefit of and be binding upon the successors and permitted assigns of each of the parties; provided however that
no party may assign this Consent or the obligations and rights of such party hereunder without the prior written consent of the
other parties hereto.

 

4.3             
Execution. This Consent Agreement may be executed in two or more counterparts, all of which when taken together
shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and
delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature
is delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on
whose behalf such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof.

 

4.4             
Severability. If any provision of this Consent Agreement is held to be invalid or unenforceable in any respect,
the validity and enforceability of the remaining terms and provisions of this Consent Agreement shall not in any way be affected
or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute
therefor, and upon so agreeing, shall incorporate such substitute provision in this Consent.

 

4.5             
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this
Consent Agreement shall be determined pursuant to the Governing Law provision of the Warrants.

 

4.6             
Entire Agreement. This Consent Agreement, together with the exhibits attached hereto, contain the entire understanding
of the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written,
with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

4.7             
Construction. The headings herein are for convenience only, do not constitute a part of this Consent Agreement
and shall not be deemed to limit or affect any of the provisions hereof. The language used in this Consent Agreement will be deemed
to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against
any party.

 

4.8             
Fees and Expenses. Except as expressly set forth herein, each party shall pay the fees and expenses of its
advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation,
preparation, execution, delivery and performance of this Consent Agreement. The Company shall pay all transfer agent fees, stamp
taxes and other taxes and duties levied in connection with the delivery of any Consent Shares.

(Signature Pages Follow)

 

 

 

    
	 	6	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Consent Agreement to be duly executed by their respective authorized signatories as of the
date first indicated above.

 

	XENETIC BIOSCIENCES, INC.	
        Address for Notice:

         

        XENETIC
        BIOSCIENCES, INC.

        40 Speen Street, Suite 102

        Framingham, MA 01701

        Attn: Jim Parslow

	
        By: /s/ Jim Parslow                                       

        Name: Jim Parslow

        Title: Chief Financial
        Officer

        With a copy to (which shall not constitute
        notice):
	
        E-Mail:j.parslow@xeneticbio.com

        Fax: (781) 538-4327

Akerman LLP

350 East Las Olas Blvd, Suite
1600

Fort Lauderdale, FL 33301

Attn: Teddy Klinghoffer and
Michael Francis

 

 

 

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

 

 

 

 

    
	 	7	 

     

    

 

IN WITNESS WHEREOF,
the undersigned have caused this Consent Agreement to be duly executed by their respective authorized signatories as of the date
first indicated above.

 

 

Name of Purchaser: EMPERY ASSET MASTER,
LTD.

 

Signature of Authorized Signatory of Purchaser:
/s/ Brett Director             

 

Name of Authorized Signatory: Brett Director

 

Title of Authorized Signatory: General
Counsel of Empery Asset Management, LP, authorized agent of Purchaser

 

Email Address of Authorized Signatory:
notices@emperyam.com

 

Number of Consent Shares to be issued:
2,207

 

Address for Notice to Purchaser:

 

c/o Empery
Asset Management, LP

1 Rockefeller
Plaza, Suite 1205

New York,
NY 10020

Attention: Ryan Lane

 

 

 

 

 

    
	 	8	 

     

    

 

IN WITNESS WHEREOF,
the undersigned have caused this Consent Agreement to be duly executed by their respective authorized signatories as of the date
first indicated above.

 

 

Name of Purchaser: EMPERY TAX EFFICIENT,
LP

 

Signature of Authorized Signatory of
Purchaser: /s/ Brett
Director                     

 

Name of Authorized Signatory: Brett Director

 

Title of Authorized Signatory: General
Counsel of Empery Asset Management, LP, authorized agent of Purchaser

 

Email Address of Authorized Signatory:
notices@emperyam.com

 

Number of Consent Shares to be issued:
785

 

Address for Notice to Purchaser:

 

c/o Empery
Asset Management, LP

1 Rockefeller
Plaza, Suite 1205

New York,
NY 10020

Attention: Ryan Lane

 

 

 

 

 

 

    
	 	9	 

     

    

 

IN WITNESS WHEREOF,
the undersigned have caused this Consent Agreement to be duly executed by their respective authorized signatories as of the date
first indicated above.

 

 

Name of Purchaser: EMPERY TAX EFFICIENT
II, LP

 

Signature of Authorized Signatory of Purchaser:
/s/ Brett Director                    

 

Name of Authorized Signatory: Brett Director

 

Title of Authorized Signatory: General
Counsel of Empery Asset Management, LP, authorized agent of Purchaser

 

Email Address of Authorized Signatory:
notices@emperyam.com

 

Number of Consent Shares to be issued:
13,674

 

Address for Notice to Purchaser:

 

c/o Empery
Asset Management, LP

1 Rockefeller
Plaza, Suite 1205

New York,
NY 10020

Attention: Ryan Lane

 

 

 

 

    
	 	10EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
 OLIN
CORPORATION 
  
  

5.625% SENIOR NOTES DUE 2029 
  

 
 SIXTH
SUPPLEMENTAL INDENTURE 
 DATED AS OF JULY 16, 2019 
  

 
 U.S. BANK
NATIONAL ASSOCIATION, 
 as Trustee 

 TABLE OF CONTENTS 

Page 
  

							
	 ARTICLE I
  

DEFINITIONS AND INCORPORATION BY REFERENCE
	  
 

 

			
	 SECTION 1.1.
	 	 Definitions
	  	 	2	 
	 SECTION 1.2.
	 	 Other Definitions
	  	 	7	 
	 SECTION 1.3.
	 	 Incorporation by Reference of Trust Indenture Act
	  	 	7	 
	 SECTION 1.4.
	 	 Rules of Construction
	  	 	8	 
	
	 ARTICLE II
  

THE NOTES
	  
 

 

			
	 SECTION 2.1.
	 	 Creation of Series of Securities
	  	 	8	 
	 SECTION 2.2.
	 	 Terms of the Notes
	  	 	8	 
	 SECTION 2.3.
	 	 Exchange of Global Notes for Certificated Notes
	  	 	9	 
	 SECTION 2.4.
	 	 Defaulted Interest
	  	 	10	 
	
	 ARTICLE III
  

REDEMPTION
	  
 

 

			
	 SECTION 3.1.
	 	 [reserved]
	  	 	10	 
	 SECTION 3.2.
	 	 Sinking Fund
	  	 	10	 
	 SECTION 3.3.
	 	 Optional Redemption
	  	 	10	 
	
	 ARTICLE IV
  

CERTAIN COVENANTS
	  
 

 

			
	 SECTION 4.1.
	 	 Change of Control Repurchase Event
	  	 	10	 
	 SECTION 4.2.
	 	 Payment of Notes
	  	 	11	 
	 SECTION 4.3.
	 	 Note Guarantees
	  	 	12	 
	 SECTION 4.4.
	 	 Future Guarantees
	  	 	13	 
	 SECTION 4.5.
	 	 Certain Amendments to the Base Indenture
	  	 	13	 
	
	 ARTICLE V
  

DEFAULTS AND REMEDIES
	  
 

 

			
	 SECTION 5.1.
	 	 Events of Default
	  	 	14	 
	 SECTION 5.2.
	 	 Acceleration
	  	 	16	 
	 SECTION 5.3.
	 	 Waiver of Past Defaults
	  	 	16	 
	 SECTION 5.4.
	 	 Control by Majority
	  	 	16	 

  
 i 

							
	 SECTION 5.5.
	 	 Rights of Holders of Notes to Receive Payment
	  	 	16	 
	
	 ARTICLE VI
  

DEFEASANCE AND COVENANT DEFEASANCE
	  
 

 

			
	 SECTION 6.1.
	 	 Option to Effect Defeasance or Covenant Defeasance
	  	 	17	 
	 SECTION 6.2.
	 	 Defeasance and Discharge
	  	 	17	 
	 SECTION 6.3.
	 	 Covenant Defeasance
	  	 	18	 
	 SECTION 6.4.
	 	 Conditions to Defeasance or Covenant Defeasance
	  	 	18	 
	 SECTION 6.5.
	 	 Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous
Provisions
	  	 	20	 
	 SECTION 6.6.
	 	 Repayment to Company
	  	 	20	 
	 SECTION 6.7.
	 	 Reinstatement
	  	 	21	 
	
	 ARTICLE VII
  

CONCERNING THE TRUSTEE
	  
 

 

			
	 SECTION 7.1.
	 	 Separate Trustee Designation
	  	 	21	 
	 SECTION 7.2.
	 	 Reports by Company
	  	 	21	 
	 SECTION 7.3.
	 	 Certain Rights of Trustee
	  	 	21	 
	
	 ARTICLE VIII
  

AMENDMENT, SUPPLEMENT AND WAIVER
	  
 

 

			
	 SECTION 8.1.
	 	 Without Consent of Holders of the Notes
	  	 	22	 
	 SECTION 8.2.
	 	 With Consent of Holders of Notes
	  	 	23	 
	 SECTION 8.3.
	 	 Compliance with Trust Indenture Act
	  	 	23	 
	 SECTION 8.4.
	 	 Revocation and Effect of Consents
	  	 	24	 
	 SECTION 8.5.
	 	 Notation on or Exchange of Notes
	  	 	24	 
	 SECTION 8.6.
	 	 Trustee to Sign Amendments, Etc
	  	 	24	 
	
	 ARTICLE IX
  

APPLICATION OF SIXTH SUPPLEMENTAL INDENTURE

AND CREATION OF THE INITIAL NOTES
	  
 

 

 

			
	 SECTION 9.1.
	 	 Application of This Sixth Supplemental Indenture
	  	 	24	 
	 SECTION 9.2.
	 	 Effect of Sixth Supplemental Indenture
	  	 	25	 
	
	 ARTICLE X
  

MISCELLANEOUS
	  
 

 

			
	 SECTION 10.1.
	 	 The Sixth Supplemental Indenture
	  	 	26	 
	 SECTION 10.2.
	 	 Counterparts
	  	 	26	 

  
 ii 

							
	 SECTION 10.3.
	 	 Recitals
	  	 	26	 
	 SECTION 10.4.
	 	 Effect of Headings
	  	 	26	 
	 SECTION 10.5.
	 	 Indenture and Notes To Be Construed in Accordance with the Laws of the State of New
York
	  	 	26	 

 EXHIBITS 
  

			
	Exhibit A	 	FORM OF 5.625% SENIOR NOTE

  
 iii 

 SIXTH SUPPLEMENTAL INDENTURE (this “Sixth Supplemental Indenture”), dated
as of July 16, 2019, by and between Olin Corporation, a Virginia corporation (the “Company”), and U.S. Bank National Association, as trustee (in such capacity, and solely with respect to the series of Debt Securities provided
for herein, the “Trustee”). 
 WHEREAS, the Company, The Bank of New York Mellon Trust Company, N.A., (the “Original
Trustee”) and the Trustee entered into a Second Supplemental Indenture (the “Second Supplemental Indenture”), dated as of August 9, 2012, which supplemented and amended the Indenture, dated as of August 19, 2009, between the
Company and the Original Trustee (such Indenture, as supplemented and amended by the Second Supplemental Indenture, the “Base Indenture”); 

WHEREAS, Sections 2.01, 2.03 and 10.01 of the Base Indenture provide, among other things, that the Company and the Trustee may enter into a
supplemental indenture to the Base Indenture for, among other things, the purpose of establishing the designation, form, terms and provisions of Debt Securities (as defined in the Base Indenture) of any series as permitted by Sections 2.01, 2.03 and
10.01 of the Base Indenture; 
 WHEREAS, on the date hereof the Company desires to establish and issue a new series of Debt Securities, to
be designated as the Company’s 5.625% Senior Notes due 2029 (the “Initial Notes”) pursuant to the Base Indenture, as supplemented and amended by this Sixth Supplemental Indenture, which Notes (as defined below) shall be senior
unsecured obligations of the Company; 
 WHEREAS, the Company desires to designate and appoint U.S. Bank National Association to serve as
Trustee under the Indenture with respect to the Notes in the manner contemplated by Section 201 of the Second Supplemental Indenture, with the effect of causing the Notes to constitute a Designated Series (as defined in the Second Supplemental
Indenture) for all purposes of the Indenture; and 
 WHEREAS, the Company desires to enter into a supplemental indenture pursuant to
Sections 2.01, 2.03 and 10.01 of the Base Indenture to establish the designation, form, terms and provisions of the Notes and to make deletions, modifications and additions to the Base Indenture pertaining to the Notes, as contemplated by Sections
2.01, 2.03 and 10.01 of the Base Indenture. 
 NOW, THEREFORE, in consideration of the foregoing, the parties hereto, for the benefit of
each other and for the equal and proportionate benefit of the other parties and for the equal and ratable benefit of the Holders of (i) the Initial Notes and (ii) Additional Notes (as defined herein), if any, issued from time to time
(together with the Initial Notes, the “Notes”), hereby enter into this Sixth Supplemental Indenture, which amends, modifies, supplements and restates (as applicable) the Base Indenture with respect to (and only with respect to) the Notes,
as follows: 

 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.1.    Definitions. 

“Applicable Premium” means, with respect to any Note on any Redemption Date, as calculated by the Company, the greater of:
(1) 1.0% of the principal amount of such Note; and (2) the excess, if any, of (a) (i) the sum of the present value at such Redemption Date of (A) the redemption price of such Note at August 1, 2024 (such redemption price being
set forth in the table appearing in Section 5 of Exhibit A attached hereto) plus (B) all required interest payments due on such Note through August 1, 2024, computed using a discount rate equal to the Treasury Rate as of
such Redemption Date plus 50 basis points minus (ii) accrued and unpaid interest on such Note to, but excluding, the Redemption Date; over (b) the then-outstanding principal amount of such Note. 

“Additional Notes” means Notes (other than the Initial Notes), if any, issued pursuant to Article II hereof and otherwise in
compliance with the provisions of this Sixth Supplemental Indenture. 
 “Bankruptcy Law” means Title 11 of the U.S. Code or
any similar federal or state bankruptcy, insolvency or similar law. 
 “Below Investment Grade Rating Event” means the
Notes are rated below Investment Grade by both Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period
following public notice of the occurrence of a Change of Control (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by either of the Rating Agencies). 

“Board of Directors” means (i) with respect to the Company or any Subsidiary, its board of directors or any duly
authorized committee thereof; (ii) with respect to a corporation, the board of directors of such corporation or any duly authorized committee thereof; and (iii) with respect to any other entity, the board of directors or similar body of
the general partner or managers of such entity or any duly authorized committee thereof. 
 “Business Day” means each day
that is not a Legal Holiday. 
 “Capital Stock” means any and all shares, interests, participations or other equivalents
(however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants or options to purchase any of the foregoing. 

“Certificated Notes” means Notes that are in the form of Exhibit A attached hereto, other than the Global Notes. 

  
 2 

 “Change of Control” means the occurrence of any of the following: 

(i)    the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger
or consolidation), in one or a series of related transactions, of all or substantially all of the Company’s properties or assets and those of the Company’s Subsidiaries, taken as a whole, to any “person” (as that term is used in
Section 13(d)(3) of the Exchange Act), other than the Company or one of the Company’s wholly owned Subsidiaries; 

(ii)    the adoption of a plan relating to the Company’s liquidation or dissolution; or 

(iii)    the consummation of any transaction (including, without limitation, any merger or consolidation)
the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), other than the Company or one of the Company’s wholly owned Subsidiaries, becomes the beneficial owner, directly or
indirectly, of more than 50% of the Company’s Voting Stock, measured by voting power rather than number of shares. 
 Notwithstanding
the foregoing, a transaction effected to create a holding company for the Company will not be deemed to involve a Change of Control if (a) pursuant to such transaction the Company becomes a wholly owned Subsidiary of such holding company and
(b) the holders of the Voting Stock of such holding company immediately following such transaction are the same as the holders of the Company’s Voting Stock immediately prior to such transaction. 

“Change of Control Repurchase Event” means the occurrence of a Change of Control and a Below Investment Grade Rating Event.
The Company will promptly give written notice to the Trustee of any Change of Control Repurchase Event. 
 “Code” means the
Internal Revenue Code of 1986, as amended. 
 “Commission” means the Securities and Exchange Commission and any successor
thereto. 
 “Company” has the meaning set forth in the preamble hereto until a successor replaces it in accordance with the
applicable provisions of this Sixth Supplemental Indenture and, thereafter, means the successor thereto. 
 “Credit
Agreement” means that certain Amended and Restated Credit Agreement dated as of October 5, 2015 (as further amended, amended and restated, supplemented or otherwise modified, refinanced or replaced from time to time, including by the
Second Amendment Agreement dated as of March 9, 2017, the Third Amendment Agreement, dated as of June 28, 2018, and in connection with the Replacement Credit Facilities (as defined in the Prospectus Supplement), if applicable), among the
Company, Blue Cube Spinco LLC, Olin Canada ULC, the lenders thereunder and Wells Fargo Bank, National Association, as administrative agent, including any related notes, guarantees, instruments and agreements executed in connection therewith (in each
case as further amended, amended and restated, supplemented or otherwise modified, refinanced or replaced from time to time). 

  
 3 

 “Debt” means any notes, bonds, debentures or other similar evidences of
indebtedness for money borrowed, issued, assumed or guaranteed by the Company. 
 “Default” means any event that is, or
after notice or passage of time, or both, would be, an Event of Default. 
 “Equity Offering” means any public or private
sale of common stock of the Company, other than (1) public offerings of common stock of the Company registered on Form S-8 (or any successor form) and (2) issuances of any such stock to a Subsidiary.

 “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global form, the Person
specified in the Base Indenture as the Depositary with respect to the Notes, until a successor shall have been appointed and become such pursuant to the Base Indenture, and, thereafter, “Depositary” shall mean or include such successor.

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

“Guarantor” means any Subsidiary of the Company that executes a Note Guarantee in respect of the Notes in accordance with the
provisions of the Indenture. 
 “GAAP” means generally accepted accounting principles in the United States, consistently
applied, as set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board, or in such other
statements by such other entity as may be approved by a significant segment of the accounting profession of the United States, which are in effect as of the Issue Date. 

“Global Note Legend” means the legend identified as such in Section 2.15(a) of the Base Indenture. 

“Global Notes” means the Notes in global form and registered in the name of the Depositary or its nominee that are in the
form of Exhibit A attached hereto. 
 “Holder” means a Person in whose name a Note is registered in the security
register. 
 “Indenture” means the Base Indenture, as amended and supplemented by this Sixth Supplemental Indenture and any
other supplemental indentures thereto. 
 “Investment Grade” means a rating of Baa3 or better by Moody’s (or its
equivalent under any successor rating categories of Moody’s) and BBB- or better by S&P (or its equivalent under any successor rating categories of S&P) (or, in each case, if such Rating Agency
ceases to rate the Notes for reasons outside of the Company’s control, the equivalent investment grade credit rating from any Rating Agency selected by the Company as a replacement Rating Agency). 

“Issue Date” means July 16, 2019. 

“Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions are not required by law, regulation or
executive order to be open in the State of New York. 

  
 4 

 “Moody’s” means Moody’s Investors Services, Inc. and any
successor to its rating agency business. 
 “Mortgage” means any mortgage, lien, pledge or other encumbrance issued,
assumed or guaranteed by us. 
 “Note Guarantee” means any guarantee in respect of the Notes that may from time to time be
entered into by a Subsidiary of the Company after the Issue Date in accordance with the provisions of the Indenture. 

“Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief
Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Assistant Secretary or any Vice-President of such Person. 

“Officers’ Certificate” means a certificate signed by two Officers of the Company, one of whom must be the principal
executive officer, the principal financial officer or the principal accounting officer of the Company. 
 “Opinion of
Counsel” means an opinion from legal counsel who is reasonably acceptable to the Trustee, and which opinion shall be addressed to the Trustee in its capacity as such, and shall comply with any applicable provisions herein. The counsel may
be an employee of or counsel to the Company or any Subsidiary of the Company. 
 “Paying Agent” means any Person authorized
by the Company to pay the principal of, premium, if any, or interest on, or redemption, purchase, retirement, defeasance, covenant defeasance or similar payment with respect to, any Notes on behalf of the Company. 

“Person” means any individual, corporation, limited liability company, partnership, joint venture, trust, unincorporated
organization or government or any agency or political subdivision thereof. 
 “Prospectus Supplement” means the Prospectus
Supplement dated July 11, 2019 to the Prospectus dated March 6, 2017, relating to the initial offering and sale of the Notes. 

“Rating Agency” means (i) each of Moody’s and S&P and (ii) if either of Moody’s or S&P ceases to
rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the
Exchange Act selected by us as a replacement agency for Moody’s or S&P, or both, as the case may be. 
 “Redemption
Date” has the meaning set forth in Section 5 of Exhibit A hereto. 
 “Restricted Subsidiary” means
(i) any Subsidiary which owns or leases, directly or indirectly, a Principal Property and (ii) any Subsidiary which owns, directly or indirectly, any stock or indebtedness of a Restricted Subsidiary, except that a Restricted Subsidiary
shall not include (a) any Subsidiary engaged primarily in financing receivables, making loans, extending credit or other activities of a character conducted by a finance company (including any special

  
 5 

 
purpose “escrow” Subsidiary) or (b) any Subsidiary (x) which conducts substantially all of its business outside the United States and its territories and possessions,
(y) that is organized or existing under the laws of a jurisdiction other than the United States, any state thereof or the District of Columbia or (z) the principal assets of which are stock or indebtedness of Subsidiaries described in
clause (x) or (y) above. 
 “S&P” means S&P Global Ratings, a division of S&P Global Inc., and its
successors. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Significant Subsidiary” has the meaning set forth in Rule 1-02 of Regulation S-X promulgated by the Commission. 
 “Specified Unsecured Debt” means any
unsecured Debt (other than any Debt incurred from time to time in connection with the Credit Agreement or any intercompany Debt) in an aggregate principal amount outstanding in excess of $100.0 million (1) incurred pursuant to a credit
facility providing for revolving credit loans and/or term loans, including any related notes, guarantees, instruments and agreements executed in connection therewith, or (2) that is issued in (A) a public offering registered under the
Securities Act or (B) a private placement to institutional investors that is underwritten for resale in accordance with Rule 144A or Regulation S of the Securities Act; provided that this clause (2) shall not include the Notes (or any
Additional Notes), any Debt issued to institutional investors in a direct placement of such Debt that is not underwritten by an intermediary or any other type of Debt incurred in a manner not customarily viewed as a “securities offering”.

 “Stated Maturity,” when used with respect to (i) any Note or any installment of interest thereon, means the date
specified in such Note as the fixed date on which the principal amount of such Note or such installment of interest is due and payable and (ii) any other indebtedness or any installment of interest thereon, means the date specified in the
instrument governing such indebtedness as the fixed date on which the principal of such indebtedness or such installment of interest is due and payable. 

“Subsidiary” means any corporation, association or other business entity of which more than 50%, by number of votes, of the
Voting Stock is at the time directly or indirectly owned by the Company. 
 “TIA” means the Trust Indenture Act of 1939 (15
U.S. Code §§ 77aaa-77bbbb), as amended, as in effect on the date hereof. 
 “Treasury Rate” means, as of any
Redemption Date, the weekly average rounded to the nearest 1/100th of a percentage point (for the most recently completed week for which such information is available as of the date that is two
Business Days prior to the Redemption Date (or in connection with a Discharge, two Business Days prior to the date of deposit with the Trustee)) of the yield to maturity of United States Treasury securities with a constant maturity (as compiled and
published in Federal Reserve Statistical Release H.15 with respect to each applicable day during such week or, if such Statistical Release is no longer published, any publicly available source of similar market data) most nearly equal to the period
from the Redemption Date to August 1, 2024; provided, however, that if the period from the Redemption 

  
 6 

 
Date to August 1, 2024 is not equal to the constant maturity of a United States Treasury security for which such a yield is given, the Treasury Rate shall be obtained by linear interpolation
(calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for the two maturities most closely corresponding to the period from the Redemption Date to
August 1, 2024 for which such yields are given, except that if the period from the Redemption Date to August 1, 2024 is less than one year, the weekly average yield on actually traded United States Treasury Securities adjusted to a
constant maturity of one year shall be used. 
 “Trustee” has the meaning set forth in the recitals to this Sixth
Supplemental Indenture until a successor replaces it in accordance with the applicable provisions of this Sixth Supplemental Indenture and the Base Indenture and, thereafter, means the successor. 

“Voting Stock” of a person means all classes of Capital Stock of such person then outstanding and normally entitled (without
regard to the occurrence of any contingency) to vote in the election of directors (or persons performing similar functions). 
 SECTION
1.2.    Other Definitions. 
  

			
	 Term
	  	 Defined in Section

	 “Base Indenture”
	  	Recitals
	 “Debt Securities”
	  	Recitals
	 “Event of Default”
	  	5.1
	 “Initial Notes”
	  	Recitals
	 “Notes”
	  	Recitals
	 “Original Trustee”
	  	Recitals
	 “Second Supplemental Indenture”
	  	Recitals
	 “Sixth Supplemental Indenture”
	  	Recitals

 SECTION 1.3.    Incorporation by Reference of Trust Indenture Act. This Sixth
Supplemental Indenture is subject to the mandatory provisions of the TIA which are incorporated by reference in, and made a part of, this Sixth Supplemental Indenture with respect to (and only with respect to) the Notes. Whenever this Sixth
Supplemental Indenture refers to a provision of the TIA, the provision is incorporated by reference in, and made a part of, this Sixth Supplemental Indenture. 

The following TIA term has the following meaning: 

“obligor” on the Notes means the Company and any successor obligor upon the Notes. 

All other terms used in this Sixth Supplemental Indenture that are defined by the TIA, defined by TIA reference to another statute or defined
by the Commission rule under the TIA have the meanings so assigned to them therein. 

  
 7 

 SECTION 1.4.    Rules of Construction. Unless the context
otherwise requires, for purposes of this Sixth Supplemental Indenture: 
 (1)    a term has the meaning
assigned to it herein; 
 (2)    an accounting term not otherwise defined herein has the meaning
assigned to it in accordance with GAAP or a successor to GAAP; 
 (3)    “or” is not
exclusive; 
 (4)    words in the singular include the plural, and in the plural include the singular;

 (5)    unless otherwise specified, any reference to a Section or an Article refers to such Section or
Article of this Sixth Supplemental Indenture; 
 (6)    provisions apply to successive events and
transactions; and 
 (7)    references to sections of or rules under the Exchange Act or the TIA shall
be deemed to include substitute, replacement or successor sections or rules adopted by the Commission from time to time. 
 ARTICLE II 

THE NOTES 
 SECTION
2.1.    Creation of Series of Securities. Pursuant to Section 2.03 of the Base Indenture, there is hereby created a new series of Debt Securities designated as the “5.625% Senior Notes due 2029” in an
unlimited aggregate principal amount. On the Issue Date, the Company will issue $750,000,000 in aggregate principal amount of the Notes. 

SECTION 2.2.    Terms of the Notes. Pursuant to Section 2.01 of the Base Indenture, the Notes shall be
substantially in the form annexed hereto as Exhibit A. The terms and provisions contained in the form of the Notes annexed hereto as Exhibit A shall constitute, and are hereby expressly made, a part of this Sixth Supplemental
Indenture. The Company shall be entitled to issue Additional Notes under this Sixth Supplemental Indenture that shall have identical terms and conditions as the Initial Notes, other than with respect to the date of issuance and, if issued after
February 1, 2020, the date from which interest thereon will begin to accrue. The Initial Notes issued on the Issue Date and any Additional Notes shall be part of the same series as the Initial Notes and will be treated as a single class for all
purposes under this Sixth Supplemental Indenture and the Base Indenture. The Initial Notes issued on the Issue Date will be represented by one or more Global Notes in the name of Cede & Co., as a nominee of the Depositary, The Depository
Trust Company. The Notes shall be in initial denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

  
 8 

 With respect to any Additional Notes, in addition to any other requirements set forth in the
Base Indenture, the Company shall set forth in an Officers’ Certificate, a copy of which shall be delivered to the Trustee, the following information: 

(i)    the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant
to this Sixth Supplemental Indenture; 
 (ii)    the issue price, the issue date and the CUSIP number of
such Additional Notes; provided, however, that if any Additional Notes are not fungible with the Initial Notes for U.S. federal income tax purposes, such Additional Notes will have a separate CUSIP number and ISIN, as applicable, from the
Initial Notes; and 
 (iii)    whether such Additional Notes will be issued as Global Notes or as
Certificated Notes and whether and to what extent the Additional Notes will contain additional legends. 
 SECTION
2.3.    Exchange of Global Notes for Certificated Notes. Section 2.15 of the Base Indenture is hereby supplemented, solely with respect to that series of Debt Securities which consists of the Notes, to add the
following provisions: 
 (i)    Transfers of Interests in Global Notes for Certificated Notes. A
Global Note may not be transferred as a whole except by the Depositary to a nominee of the Depositary or by the Depositary to a successor Depositary or a nominee of such successor Depositary. Global Notes shall be exchanged by the Company for
Certificated Notes if (i) the Depositary (a) notifies the Company that it is unwilling or unable to continue as depositary for the Global Notes or (b) has ceased to be a clearing agency registered under the Exchange Act and, in each
case, a successor depositary is not appointed; (ii) the Company, at its option, notifies the Trustee in writing that it elects to cause the issuance of the Certificated Notes; or (iii) there has occurred and is continuing an Event of
Default with respect to the Notes entitling the Holder to accelerate the maturity of the Notes. Upon the occurrence of either of the preceding events in (i), (ii) or (iii) above, Certificated Notes shall be issued in such names as the
Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.08 and 2.09 of the Base Indenture. Every Note authenticated and delivered in exchange for, or in lieu of, a Global
Note or any portion thereof, pursuant to the first sentence of this paragraph (i) or Section 2.08 or 2.09 of the Base Indenture, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be
exchanged for another Note other than as provided in this paragraph (i). 
 (ii)    Legends. Each
Global Note issued under this Sixth Supplemental Indenture shall bear a legend in substantially the form as specified in Section 2.15(a) of the Base Indenture and any other appropriate legends specified in an Officers’ Certificate. 

(iii)    Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests
in a particular Global Note have been exchanged for Certificated Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or retained and canceled by the

  
 9 

 
Trustee in accordance with Section 2.10 of the Base Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person
who will take delivery thereof in the form of a beneficial interest in another Global Note or for Certificated Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such
Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who shall take delivery thereof in the form of a beneficial
interest in another Global Note, such other Global Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 

SECTION 2.4.    Defaulted Interest. If the Company defaults in a payment of interest on the Notes, it shall pay the
defaulted interest in any lawful manner to the Persons who are Holders on a subsequent special record date, which date shall be at the earliest practicable date but in all events at least five (5) Business Days prior to the payment date. The
Company shall fix or cause to be fixed each such special record date and payment date and shall promptly thereafter notify the Trustee of any such date. At least fifteen (15) days before the special record date, the Company (or the Trustee, in
the name and at the expense of the Company) shall deliver or cause to be delivered to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 

ARTICLE III 
 REDEMPTION 

SECTION 3.1.    [reserved] 

SECTION 3.2.    Sinking Fund. The Company shall not be required to make sinking fund payments with respect to the
Notes. 
 SECTION 3.3.    Optional Redemption. The Base Indenture is hereby supplemented, solely with respect to
that series of Debt Securities which consists of the Notes, to add the optional redemption provisions set forth in Exhibit A hereto with respect to the Notes. 

ARTICLE IV 
 CERTAIN COVENANTS 

SECTION 4.1.    Change of Control Repurchase Event. The Base Indenture is hereby supplemented, solely with respect
to that series of Debt Securities which consists of the Notes, to add the covenant set forth in this Section 4.1 with respect to the Notes. If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to redeem the
Notes as provided in the Indenture, the Company will make an offer to each Holder of Notes to repurchase all or any part (in integral multiples of $1,000 principal amount) of that Holder’s Notes at a repurchase price in cash equal to 101% of
the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to the date of 

  
 10 

 
purchase. Within 30 days following any Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but after a definitive agreement is in place for a
Change of Control, the Company will deliver a notice to each Holder, and provide notice to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase
Notes on the payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is delivered. The notice shall, if delivered prior to the date of consummation of the Change of
Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice. The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of
Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes, the Company will comply with the applicable securities laws and
regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Notes by virtue of such conflict. 

On the Change of Control Repurchase Event payment date, the Company will, to the extent lawful: 

(A)    accept for payment all Notes or portions of Notes properly tendered pursuant to the Company’s
offer; 
 (B)    deposit with the Paying Agent an amount equal to the aggregate purchase price in
respect of all Notes or portions of Notes properly tendered; and 
 (C)    deliver or cause to be
delivered to the Trustee the Notes properly accepted, together with an Officers’ Certificate stating the aggregate principal amount of Notes being purchased by the Company. 

The Paying Agent will promptly deliver to each Holder of Notes properly tendered the purchase price for the Notes, and the Company will
execute and direct the Trustee to promptly authenticate and deliver to each Holder a new Note equal in principal amount to any unpurchased portion of any Notes surrendered; provided that each new Note will be in a principal amount of $2,000
or an integral multiple of $1,000 in excess thereof. 
 The Company will not be required to make an offer to repurchase the Notes upon a
Change of Control Repurchase Event if a third party makes an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not
withdrawn under its offer. 
 SECTION 4.2.    Payment of Notes. The Company shall pay or cause to be paid the
principal of, premium, if any, and interest on the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest shall be considered paid for all purposes hereunder on the date the Paying Agent, if other than
the Company or a Subsidiary thereof, holds, as of 12:00 noon (New York City time), money deposited by the Company in immediately available funds and designated for and sufficient to pay all such principal, premium, if any, and interest then due.

  
 11 

 SECTION 4.3.    Note Guarantees. The Base Indenture is hereby
supplemented, solely with respect to that series of Debt Securities which consists of the Notes, to add the covenant set forth in this Section 4.3 with respect to the Notes. The Notes will not be guaranteed by any of the Company’s
Subsidiaries except to the extent the Company elects to cause any such Subsidiary to execute a Note Guarantee to guarantee the payment of the principal of, premium, if any, and interest on the Notes in order to comply with the covenant set forth
under Section 4.4 pursuant to a Note Guarantee or otherwise. 
 Any Note Guarantee shall be evidenced by a supplemental indenture,
executed by the applicable Guarantor and delivered by it to the Trustee, which shall set forth the terms and conditions of such Note Guarantee. 

Any Guarantor will be automatically and unconditionally released from all obligations under its Note Guarantee, and such Note Guarantee shall
thereupon terminate and be discharged and of no further force and effect, upon: 
 (a)    receipt by the Trustee of a
notification from the Company that such Note Guarantee will be released; and 
 (b)    (i) any sale, exchange,
disposition or transfer (by merger, consolidation or otherwise) of (x) any equity interests of such Guarantor following which such Guarantor is no longer a Restricted Subsidiary of the Company or (y) all or substantially all the properties
and assets of such Guarantor to a Person that is not a Restricted Subsidiary of the Company; 

(ii)    the release, discharge or other termination of the Specified Unsecured Debt (or the guarantee of
Specified Unsecured Debt issued by the Company or any Restricted Subsidiary by such Guarantor), including as a result of the repayment thereof, which resulted in the creation of such Note Guarantee (or would have resulted in the creation of a Note
Guarantee had such Note Guarantee not already been in existence), so long as immediately after the release of such Note Guarantee (and after giving effect to all other substantially simultaneous releases of any other guarantees or indebtedness by
such Guarantor), the Company would be in compliance with the covenant described in Section 4.4. 

(iii)    the merger or consolidation of such Guarantor with and into either the Company or any other
Guarantor that is the surviving person in such merger or consolidation, or upon the liquidation of such Guarantor following the transfer of all or substantially all of its property and assets to either the Company or another Guarantor; 

(iv)    the exercise by the Company of its legal defeasance or covenant defeasance options, or the
discharge of the Company’s obligations under the Indenture and the Notes, as described in Article VI; or 

(v)    such Guarantor no longer being a Restricted Subsidiary. 

  
 12 

 Upon any such occurrence specified above, the Trustee shall execute any documents prepared
by the Company and reasonably required to acknowledge such release, discharge and termination in respect of such Note Guarantee. Neither the Company nor any Guarantor shall be required to make a notation on the Notes to reflect any such Note
Guarantee or any such release, termination or discharge. Each Guarantor, and by its acceptance of the Notes, each Holder, hereby confirms that it is the intention of all such parties that the Note Guarantee of a Guarantor not constitute a fraudulent
conveyance or fraudulent transfer under Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Note Guarantee. To effectuate the foregoing
intention, the Trustee, the Holders and each Guarantor hereby irrevocably agree that the obligations of each Guarantor shall be limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent and fixed
liabilities of such Guarantor that are relevant under such laws and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other
Guarantor under this Section 4.3 or Section 4.4 hereof, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable law. 

SECTION 4.4.    Future Guarantees. The Base Indenture is hereby supplemented, solely with respect to that series of
Debt Securities which consists of the Notes, to add the covenant set forth in this Section 4.4 with respect to the Notes. If, after the Issue Date, any wholly owned Restricted Subsidiary creates, assumes or incurs any Specified Unsecured Debt
or guarantees any Specified Unsecured Debt, in each case issued by the Company or any wholly owned Restricted Subsidiary after the Issue Date, then the Company shall cause such wholly owned Restricted Subsidiary, within 45 days from such creation,
assumption, incurrence or guarantee of such Specified Unsecured Debt, to guarantee the payment of the principal of, premium, if any, and interest on the Notes on an unsecured unsubordinated basis, except that no such guarantee of the Notes shall be
required (a) as a result of any indebtedness (including any guarantees) by a Person (x) existing at the time such Person is merged into, or consolidated with, any Restricted Subsidiary, (y) existing at the time such Person becomes a
Restricted Subsidiary or (z) being assumed by a Restricted Subsidiary in connection with a sale, lease or other disposition of the properties and assets of such Person (or a division thereof) as an entirety or substantially as an entirety to
any Restricted Subsidiary; provided that in each case any such indebtedness or guarantee was not incurred in contemplation thereof, (b) by any Restricted Subsidiary that is prohibited by any applicable law, rule, regulation or contractual
obligation (other than any contractual obligation created in contemplation of such incurrence or guarantee) from guaranteeing the Notes or (c) by any Restricted Subsidiary that would require governmental (including regulatory) consent,
approval, license or authorization to provide a guarantee of the Notes (unless such consent, approval, license or authorization has been received). 

SECTION 4.5.    Certain Amendments to the Base Indenture. 

(a)    Section 4.05(a)(i) of the Base Indenture is hereby amended, solely with respect to that series of Debt Securities
which consists of the Notes, by replacing the phrase “Mortgages existing on the date of the Indenture” with “Mortgages existing on the date of the Sixth Supplemental Indenture”. 

  
 13 

 (b)    Section 4.05(b) and Section 4.06(b) of the Base Indenture
are hereby each amended, solely with respect to that series of Debt Securities which consists of the Notes, by replacing the phrase “exceed the greater of (x) 10% of Consolidated Net Tangible Assets and (y) $300 million” at the end thereof
with “exceed 15% of Consolidated Net Tangible Assets”. 
 (c)    Section 4.05(c)(1)(a)(i) of the Base
Indenture is hereby amended, solely with respect to that series of Debt Securities which consists of the Notes, by replacing the entirety of the text appearing in said Section 4.05(c)(1)(a)(i) with “[reserved]”. 

(d)    Section 5.03 of the Base Indenture is hereby amended, solely with respect to the series of Debt Securities which
consists of the Notes, by replacing the entirety of said Section 5.03 with the following: 
 “Whether or not
required by the Commission, so long as any Notes are outstanding, the Company shall furnish to the Holders, or file electronically with the Commission through the Commission’s Electronic Data Gathering, Analysis and Retrieval System (or any
successor system), within the time periods specified in the Commission’s rules and regulations: (1) all quarterly and annual financial information that would be required to be contained in a filing with the Commission on Forms 10Q and 10-K if the Company were required to file such Forms, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual information
only, a report on the annual financial statements by the Company’s certified independent accountants; and (2) all current reports that would be required to be filed with the Commission on Form 8-K if
the Company were required to file such reports. In addition, whether or not required by the Commission, the Company shall file a copy of all of the information and reports referred to in clauses (1) and (2) above with the Commission for public
availability within the time periods specified in the Commission’s rules and regulations (unless the Commission will not accept such a filing) and make such information available to prospective investors.” 

(e)    Section 11.01 of the Base Indenture is hereby amended, solely with respect to that series of Debt Securities which
consists of the Notes, by replacing the first, fourth, fifth and sixth references to “corporation” therein with “Person” and by replacing the second reference to “corporation” therein with “Person (if other than
the Company)”. 
 ARTICLE V 

DEFAULTS AND REMEDIES 
 SECTION
5.1.    Events of Default. Each of the following constitutes an “Event of Default”: 

(1)    default in the payment in respect of the principal of (or premium, if any, on) any Note when due
and payable (whether at Stated Maturity or upon repurchase, acceleration, optional redemption or otherwise); 

  
 14 

 (2)    default in the payment of any interest upon any
Note when it becomes due and payable, and continuance of such default for a period of 30 days; 

(3)    default in the performance, or breach, of any covenant or agreement of the Company or any
Subsidiary in the Indenture (other than a covenant or agreement a default in the performance of which or the breach of which is specifically dealt with in clauses (1) or (2) above), and continuance of such default or breach for a period of 60
days after written notice thereof has been given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the outstanding Notes (provided that, and without limiting the
foregoing in this clause (3), in the case of a default or breach of any covenant or agreement set forth in Section 5.03 of the Base Indenture (as amended by this Sixth Supplemental Indenture), no Event of Default shall occur (and any such
default or breach shall be deemed to not have occurred for all purposes under the Indenture) with respect to any failure to furnish or file any information or report required thereunder if the Company files or furnishes such information or report
within 120 days after the Company was required (or would have been required) to file the same pursuant to the Commission’s rules and regulations); and 

(4)    (i) the Company or any Significant Subsidiary, pursuant to or within the meaning of any
Bankruptcy Law: 
 (a)    commences a voluntary case; 

(b)    consents to the entry of an order for relief against it in an involuntary case; 

(c)    consents to the appointment of a custodian of it or for all or substantially all of its property;

 (d)    makes a general assignment for the benefit of its creditors; or 

(e)    generally is not paying its debts as they become due; or 

(ii)    a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(a)    is for relief against the Company or any Significant Subsidiary, in an involuntary case; 

(b)    appoints a custodian of the Company or any Significant Subsidiary for all or substantially all of
the property of the Company or any of its Significant Subsidiaries; or 
 (c)    orders the liquidation
of the Company or any Significant Subsidiary; 
 and the order or decree remains unstayed and in effect for 60 consecutive days. 

  
 15 

 SECTION 5.2.    Acceleration. If an Event of Default (other than
an Event of Default specified in clause (4) of Section 5.1 with respect to the Company) occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the outstanding
Notes may declare the principal of the Notes and any accrued interest on the Notes to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that after such
acceleration, but before a judgment or decree based on acceleration, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind and annul such acceleration if all Events of Default, other than the nonpayment of
accelerated principal of or interest on the Notes, have been cured or waived as provided in the Indenture. 
 If an Event of Default
specified in clause (4) of Section 5.1 occurs with respect to the Company, the principal of and any accrued interest on the Notes then outstanding shall ipso facto become immediately due and payable without any declaration or other act on
the part of the Trustee or any Holder. 
 SECTION 5.3.    Waiver of Past Defaults. The Holders of not less than a
majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or Event of Default with respect to the Notes and its consequences under this
Sixth Supplemental Indenture except any such Default or Event of Default (1) in any payment in respect of the principal of (or premium, if any) or interest on any Notes, or (2) in respect of a covenant or provision of the Indenture or this
Sixth Supplemental Indenture which under the terms hereof or thereof cannot be modified or amended without the consent of the Holder of each outstanding Note affected, which in either case shall require the consent of all of the Holders of the Notes
then outstanding. 
 SECTION 5.4.    Control by Majority. The Holders of a majority in aggregate principal amount
of the then outstanding Notes may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust power conferred on it. However, (i) the Trustee may refuse to follow any
direction that conflicts with law or this Sixth Supplemental Indenture, that the Trustee determines may be unduly prejudicial to the rights of other Holders or that may involve the Trustee in personal liability, and (ii) the Trustee may take
any other action deemed proper by the Trustee which is not inconsistent with such direction. 
 SECTION
5.5.    Rights of Holders of Notes to Receive Payment. Notwithstanding any other provision of this Sixth Supplemental Indenture, the right of any Holder to receive payment of principal, premium, if any, and interest on or
after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the
consent of such Holder. 

  
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 ARTICLE VI 

DEFEASANCE AND COVENANT DEFEASANCE 

SECTION 6.1.    Option to Effect Defeasance or Covenant Defeasance. The Company may, at the option of its Board of
Directors evidenced by a resolution of its Board of Directors set forth in an Officers’ Certificate, at any time, elect to have either Section 6.2(a) or 6.3 hereof applied to all outstanding Notes and Note Guarantees upon compliance with
the conditions set forth below in this Article VI. 
 SECTION 6.2.    Defeasance and Discharge. (a) Upon the
Company’s exercise under Section 6.1 hereof of the option applicable to this Section 6.2(a), the Company and each Guarantor, if any, shall, subject to the satisfaction of the conditions set forth in Section 6.4 hereof, be deemed
to have been discharged from its respective obligations with respect to all outstanding Notes and Note Guarantees on the date the conditions set forth below are satisfied (hereinafter, “defeasance”). For this purpose, defeasance
means that the Company shall be deemed to have paid and discharged the entire Debt represented by the outstanding Notes, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 6.5 hereof and the other
Sections of the Indenture referred to in clauses (a) and (b) below, and to have satisfied all of its other obligations under such Notes and, to the extent related to such Notes, the Indenture (and the Trustee, on demand of and at the expense of
the Company, shall execute proper instruments acknowledging the same), except for the following provisions which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of outstanding Notes to receive
payments in respect of the principal of, premium, if any, and interest, if any, on such Notes when such payments are due from the trust referred to in Section 6.4(l) hereof; (b) the Company’s obligations with respect to such Notes
under Sections 2.04, 2.05, 2.07, 2.08, 2.09, 4.02 and 4.04 of the Base Indenture; (c) the rights, powers, trusts, benefits and immunities of the Trustee, including, without limitation thereunder, under Section 7.06 of the Base Indenture
and Sections 6.5 and 6.7 hereof and the Company’s obligations in connection therewith; (d) the Company’s rights under the optional redemption provisions of the Notes; and (e) the provisions of this Article VI. Subject to
compliance with this Article VI, the Company may exercise its option under this Section 6.2(a) notwithstanding the prior exercise of its option under Section 6.3 hereof. 

(b)    The Company may terminate its obligations and the obligations of each Guarantor, if any, under the Indenture with
respect to the Notes and Note Guarantees when: 
 (1)    either: (A) all Notes theretofore
authenticated and delivered have been delivered to the Trustee for cancellation, or (B) all such Notes not theretofore delivered to the Trustee for cancellation (i) have become due and payable or (ii) will become due and payable
within one year or are to be called for redemption within one year (a “Discharge”) under irrevocable 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 has irrevocably deposited or caused to be deposited with the Trustee funds in an amount sufficient to pay and discharge the entire indebtedness on the Notes, not theretofore delivered to the Trustee for cancellation, for
principal of, premium, if any, and interest to the Stated Maturity or date fixed for redemption; 

  
 17 

 (2)    the Company has paid or caused to be paid all
other sums then due and payable under the Indenture by the Company with respect to the Notes; 

(3)    the deposit will not result in a breach or violation of, or constitute a default under, any other
instrument to which the Company is a party or by which the Company is bound; 
 (4)    the Company has
delivered irrevocable instructions to the Trustee under the Indenture to apply the deposited money toward the payment of the Notes at maturity or on the date fixed for redemption, as the case may be; and 

(5)    the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel
each stating that all conditions precedent under the Indenture relating to the Discharge have been complied with. 
 SECTION
6.3.    Covenant Defeasance. Upon the Company’s exercise under Section 6.1 hereof of the option applicable to this Section 6.3, the Company shall, subject to the satisfaction of the conditions set forth in
Section 6.4 hereof, be released from its obligations under the covenants contained in Sections 4.05, 4.06 and 5.03 of the Base Indenture (as amended hereby) and Sections 4.1, 4.3 and 4.4 hereof with respect to the outstanding Notes on and after
the date the conditions set forth below are satisfied (hereinafter, “covenant defeasance”), and the Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or
act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for
accounting purposes). For this purpose, covenant defeasance means that, with respect to the outstanding Notes, the Company or any of its Subsidiaries may omit to comply with and shall have no liability in respect of any term, condition or limitation
set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such
omission to comply shall not constitute a Default or an Event of Default with respect to the Notes, but, except as specified above, the remainder of the Indenture and such Notes shall be unaffected thereby. In addition, upon the Company’s
exercise under Section 6.1 hereof of the option applicable to this Section 6.3, subject to the satisfaction of the conditions set forth in Section 6.4 hereof, Section 5.1(4) (with respect to any Significant Subsidiary) hereof
shall not constitute an Event of Default with respect to the Notes. 
 SECTION 6.4.    Conditions to Defeasance or
Covenant Defeasance. The following shall be the conditions to the application of either Section 6.2(a) or 6.3 hereof to the outstanding Notes: 

In order to exercise either defeasance or covenant defeasance with respect to the Notes: 

(1)    the Company must irrevocably have deposited or caused to be deposited with the Trustee as trust
funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to the benefit of the Holders of, such Notes: (A) money in an amount, or (B) U.S. Government Obligations (as
defined in 

  
 18 

 
the Base Indenture) which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than the due date of any payment, money
in an amount or (C) a combination thereof, in each case sufficient without reinvestment, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to
pay and discharge, and which shall be applied by the Trustee to pay and discharge, the entire indebtedness in respect of the principal of and premium, if any, and interest on such Notes on the Stated Maturity thereof or (if the Company has made
irrevocable 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) the redemption date thereof, as the case may be, in accordance with the terms of the Indenture
and such Notes; 
 (2)    in the case of defeasance, the Company shall have delivered to the Trustee an
Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date of the Sixth Supplemental Indenture, there has been a change in the applicable
United States federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of such Notes will not recognize gain or loss for United States federal income tax purposes as a
result of the deposit, defeasance and discharge to be effected with respect to such Notes and will be subject to United States federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit,
defeasance and discharge were not to occur; 
 (3)    in the case of covenant defeasance, the Company
shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such outstanding Notes will not recognize gain or loss for United States federal income tax purposes as a result of the deposit and covenant defeasance to be
effected with respect to such Notes and will be subject to federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and covenant defeasance were not to occur; 

(4)    no Default with respect to the outstanding Notes shall have occurred and be continuing at the time
of such deposit after giving effect thereto (other than a Default resulting from the borrowing of funds to be applied to such deposit and the grant of any Mortgage to secure such borrowing); 

(5)    such defeasance or covenant defeasance shall not result in a breach or violation of, or constitute
a default under, any material agreement or material instrument (other than the Indenture) to which the Company is a party or by which the Company is bound; and 

(6)    the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent with respect to such defeasance or covenant defeasance have been complied with. 

  
 19 

 Notwithstanding the foregoing, the Opinion of Counsel required by clause (2) or (3)
above with respect to a defeasance or a covenant defeasance need not to be delivered if all Notes not theretofore delivered to the Trustee for cancellation (x) have become due and payable, or (y) will become due and payable at Stated
Maturity within one year or are to be called for redemption under irrevocable 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. 

SECTION 6.5.    Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions.
Subject to Section 6.6 hereof, all money and non-callable U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of
this Section 6.5 and Sections 6.6 and 6.7 hereof, the “Trustee”) pursuant to Section 6.4 hereof in respect of the outstanding Notes shall be held in trust, shall not be invested, and applied by the Trustee, in accordance
with the provisions of such Notes and the Indenture, to the payment, either directly or through any Paying Agent (including the Company or any Subsidiary acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums
due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 

The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable U.S. Government Obligations deposited pursuant to Section 6.4 hereof 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 the outstanding Notes. 
 Anything in this Article VI to the contrary notwithstanding, the Trustee shall deliver
or pay to the Company from time to time upon the written request of the Company and be relieved of all liability with respect to any money or non-callable U.S. Government Obligations held by it as provided in
Section 6.4 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 6.4(1)
hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent defeasance or covenant defeasance. 

SECTION 6.6.    Repayment to Company. Any money deposited with the Trustee or any Paying Agent, or then held by the
Company, in trust for the payment of the principal of, premium, if any, or interest, if any, on any Note and remaining unclaimed for one year after such principal and premium, if any, or interest has become due and payable shall be paid to the
Company on its written request or (if then held by the Company) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of
the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any
such repayment, may at the expense of the Company cause to be published once, in The New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified
therein, which shall not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money then remaining shall be repaid to the Company. 

  
 20 

 SECTION 6.7.    Reinstatement. If the Trustee or Paying Agent is
unable to apply any United States dollars or non-callable U.S. Government Obligations in accordance with Section 6.2(b) or 6.3 hereof, as the case may be, by reason of any order or judgment of any court
or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations of the Company under the Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to
Section 6.2(b) or 6.3 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 6.2(b) or 6.3 hereof, as the case may be; provided, however, that, if the Company
makes any payment of principal of, premium, if any, or interest on any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the
Trustee or Paying Agent. 
 ARTICLE VII 

CONCERNING THE TRUSTEE 
 SECTION
7.1.    Separate Trustee Designation. The Company hereby designates and appoints U.S. Bank National Association, and, subject to the other applicable provisions of the Base Indenture and this Sixth Supplemental Indenture,
its successors and assigns to serve as trustee with respect to that series of Debt Securities which consists of the Notes. The foregoing shall constitute the designation and appointment contemplated by Section 201 of the Second Supplemental
Indenture, and the Notes shall constitute a “Designated Series” for all purposes of the Indenture. 
 SECTION
7.2.    Reports by Company. Section 5.03 of the Base Indenture is hereby amended, solely with respect to that series of Debt Securities which consists of the Notes, to add the following provision as a new clause (d):

 “(d) Delivery of the reports, information and documents to the Trustee required under Section 5.04 of the Base Indenture is for
informational purposes only and the Trustee’s receipt of such shall not constitute actual or constructive knowledge or notice of any information contained therein or determinable from information contained therein, including the Company’s
compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).” 

SECTION 7.3.    Certain Rights of Trustee. Section 7.02 of the Base Indenture is hereby amended, solely with
respect to that series of Debt Securities which consists of the Notes, to add the following provisions as new clauses (i) and (j): 

“(i) the rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder; and 

(j) anything in the Indenture notwithstanding, in no event shall the Trustee be liable for special, indirect, punitive or consequential loss
or damage of any kind whatsoever (including but not limited to loss of profit), even if the Trustee has been advised as to the likelihood of such loss or damage and regardless of the form of action.” 

  
 21 

 ARTICLE VIII 

AMENDMENT, SUPPLEMENT AND WAIVER 

SECTION 8.1.    Without Consent of Holders of the Notes. Notwithstanding Section 8.2 of this Sixth
Supplemental Indenture, without the consent of any Holders, the Company and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental to the Indenture for any of the following purposes with respect to the
Notes (and only with respect to the Notes): 
 (1)    to evidence the succession of another Person to
the Company or to a Guarantor and the assumption by any such successor of the covenants of the Company or such Guarantor, as the case may be, in the Indenture and the Notes or the Note Guarantee, as applicable; 

(2)    to add to the covenants of the Company for the benefit of the Holders, or to surrender any right or
power herein conferred upon the Company; 
 (3)    to add additional Events of Default; 

(4)    to provide for uncertificated Notes in addition to or in place of the certificated Notes; 

(5)    to evidence and provide for the acceptance of appointment under the Indenture by a successor
Trustee; 
 (6)    to provide for or confirm the issuance of additional debt securities in accordance
with the terms of the Indenture; 
 (7)    to add a Guarantor or to release a Guarantor in accordance
with the Indenture; 
 (8)    to cure any ambiguity, defect, omission, mistake or inconsistency; 

(9)    to make any other provisions with respect to matters or questions arising under the Indenture;
provided, however, that such actions pursuant to this clause (9) shall not adversely affect the interests of the Holders of the Notes in any material respect, as determined in good faith by the Board of Directors of the Company;

 (10)    to conform the text of this Sixth Supplemental Indenture or the Notes to any provision of the
“Description of Notes” in the Prospectus Supplement to the extent that the Trustee has received an Officers’ Certificate stating that such text constitutes an unintended conflict with the description of the corresponding provision in
said “Description of Notes”; 

  
 22 

 (11)    to effect or maintain the qualification of the
Indenture under the TIA; or 
 (12)    to comply with the rules of any applicable securities depository.

 SECTION 8.2.    With Consent of Holders of Notes. With the consent of the Holders of not less than a majority
in aggregate principal amount of the outstanding Notes, the Company and the Trustee may enter into an indenture or indentures supplemental to the Indenture for the purpose of adding any provisions to or changing in any manner or eliminating any of
the provisions of the Indenture applicable to the Notes or the Note Guarantees or of the Notes or of any Note Guarantee or of modifying in any manner the rights of the Holders under the Indenture, including the definitions therein, in each case with
respect to the Notes (and only with respect to the Notes); provided, however, that no such supplemental indenture shall, without the consent of the Holder of each outstanding Note affected thereby: 

(1)    change the Stated Maturity of any Note or of any installment of interest on any Note, or reduce the
amount payable in respect of the principal thereof or the rate of interest thereon or any premium payable thereon, or reduce the amount that would be due and payable on acceleration of the maturity thereof, or change the place of payment where, or
the coin or currency in which, any Note or any premium or 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 change the date on which any Notes may
be subject to redemption or reduce the redemption price therefor; 
 (2)    reduce the percentage in
aggregate principal amount of the outstanding Notes, 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 the Indenture or
certain defaults thereunder and their consequences) provided for in the Indenture; 
 (3)    modify the
obligations of the Company to make offers to purchase upon a Change of Control Repurchase Event if such modification was done after the occurrence of the related Change of Control; 

(4)    modify or change any provision of the Indenture affecting the ranking of the Notes in a manner
adverse to the Holders of the Notes; or 
 (5)    modify any of the provisions of this paragraph or
provisions relating to waiver of defaults or certain covenants, except to increase any such percentage required for such actions or to provide that certain other provisions of the Indenture cannot be modified or waived without the consent of the
Holder of each outstanding Note affected thereby. 
 SECTION 8.3.    Compliance with Trust Indenture Act. Every
amendment or supplement to the Indenture or the Notes shall be set forth in an amended or supplemental indenture that complies with the TIA as then in effect. 

  
 23 

 SECTION 8.4.    Revocation and Effect of Consents. Until an
amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder and every subsequent Holder of that Note or portion of the Note that evidences the same debt as the consenting
Holder’s Note, even if notation of the consent is not made on the Note. However, any such Holder or subsequent Holder may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the waiver,
supplement or amendment becomes effective. When an amendment, supplement or waiver becomes effective in accordance with its terms, it thereafter binds every Holder. 

The Company may, but shall not be obligated to, fix a record date for determining which Holders consent to such amendment, supplement or
waiver. If the Company fixes a record date, the record date shall be fixed at (i) the later of 30 days prior to the first solicitation of such consent or the date of the most recent list of Holders furnished for the Trustee prior to such
solicitation pursuant to Section 5.01 of the Base Indenture or (ii) such other date as the Company shall designate. 
 SECTION
8.5.    Notation on or Exchange of Notes. The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company in exchange for all Notes may issue and the
Trustee shall authenticate new Notes that reflect the amendment, supplement or waiver. 
 Failure to make the appropriate notation or issue
a new Note shall not affect the validity and effect of such amendment, supplement or waiver. 
 After any amendment, supplement or waiver
becomes effective, the Company shall mail to Holders a notice briefly describing such amendment, supplement or waiver. The failure to give such notice shall not affect the validity and effect of such amendment, supplement or waiver. 

SECTION 8.6.    Trustee to Sign Amendments, Etc. The Trustee shall sign any amended or supplemental indenture
authorized pursuant to this Article VIII if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. In signing or refusing to sign any amendment or supplemental indenture the Trustee shall
be entitled to receive and (subject to Section 7.01 of the Base Indenture) shall be fully protected in relying upon an Officers’ Certificate and an Opinion of Counsel stating that the execution of such amendment or supplemental indenture
is authorized or permitted by this Sixth Supplemental Indenture, that all conditions precedent thereto have been met or waived, that such amendment or supplemental indenture is not inconsistent herewith, and that it will be valid and binding upon
the Company in accordance with its terms. 
 ARTICLE IX 

APPLICATION OF SIXTH SUPPLEMENTAL INDENTURE 

AND CREATION OF THE INITIAL NOTES 

SECTION 9.1.    Application of This Sixth Supplemental Indenture. Notwithstanding any other provision of this Sixth
Supplemental Indenture, the provisions of this Sixth Supplemental Indenture, including as provided in Section 9.2 below, are expressly and solely for the benefit of the Trustee and the Holders of the Notes. The Initial Notes constitute a series
of 

  
 24 

 
Debt Securities as provided in Section 2.03 of the Base Indenture. Unless otherwise expressly specified, references in this Sixth Supplemental Indenture to specific Article numbers or
Section numbers refer to Articles and Sections contained in this Sixth Supplemental Indenture, and not the Base Indenture or any other document. 

SECTION 9.2.    Effect of Sixth Supplemental Indenture. With respect to the Notes (and only with respect to the
Notes), the Base Indenture shall be supplemented pursuant to Section 10.01(f) thereof to establish the terms of the Notes as set forth in this Sixth Supplemental Indenture, including, without limitation, as follows: 

(i)    Definitions. The definition of each term set forth in Section 1.01 of the Base
Indenture is with respect to the Notes (and only with respect to the Notes) deleted and replaced in its entirety by the definition ascribed to such term in Article I of this Sixth Supplemental Indenture to the extent any such term is defined in both
the Base Indenture and this Sixth Supplemental Indenture; 
 (ii)    Provisions of General
Application; Security Forms and Transfer and Exchange. The provisions of Article Two of the Base Indenture are, with respect to the Notes (and only with respect to the Notes), hereby supplemented by and shall be in addition to the provisions of
Article II of this Sixth Supplemental Indenture; 
 (iii)    Satisfaction and Discharge. The
provisions of Article Twelve of the Base Indenture are, with respect to the Notes (and only with respect to the Notes), deleted and replaced in their entirety by the provisions of Article VI of this Sixth Supplemental Indenture; 

(iv)    Events of Default. The provisions of Section 6.01 and Section 6.06 of the Base
Indenture are, with respect to the Notes (and only with respect to the Notes), deleted and replaced in their entirety by the provisions of Article V of this Sixth Supplemental Indenture; 

(v)    Supplemental Indentures. The provisions of Article Ten (other than Section 10.03) of
the Base Indenture are, with respect to the Notes (and only with respect to the Notes), deleted and replaced in their entirety by the provisions of Article VIII of this Sixth Supplemental Indenture; and 

(vi)    Form of Note. Exhibit A of this Sixth Supplemental Indenture, with respect to the
Notes (and only with respect to the Notes), shall be Exhibit A to the Base Indenture. 
 To the extent that the provisions of this
Sixth Supplemental Indenture (including those referred to in clauses (i) through (vi) above) conflict with any provision of the Base Indenture, the provisions of this Sixth Supplemental Indenture shall govern and be controlling, with respect to
the Notes (and only with respect to the Notes). 
 Except as set forth in this Sixth Supplemental Indenture, the provisions of the Base
Indenture shall remain in full force and effect with respect to the Notes. 

  
 25 

 ARTICLE X 

MISCELLANEOUS 
 SECTION
10.1.    The Sixth Supplemental Indenture. The Base Indenture, as amended and modified by this Sixth Supplemental Indenture, hereby is in all respects ratified, confirmed and approved. This Sixth Supplemental Indenture
shall be construed in connection with and as part of the Base Indenture. 
 SECTION 10.2.    Counterparts. This
Sixth Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Sixth Supplemental
Indenture and of signature pages by facsimile or electronic format (i.e., “pdf’ or “tif’) transmission shall constitute effective execution and delivery of this Sixth Supplemental Indenture as to the parties hereto and may be
used in lieu of the original Sixth Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format (i.e., “pdf’ or “tif’) shall be deemed to be their original signatures for
all purposes. 
 SECTION 10.3.    Recitals. The recitals contained herein shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representation as to the validity or sufficiency of this Sixth Supplemental Indenture or of the Notes. 

SECTION 10.4.    Effect of Headings. The Section headings herein are for convenience only and shall not affect the
construction hereof. 
 SECTION 10.5.    Indenture and Notes To Be Construed in Accordance with the Laws of the State
of New York. This Sixth Supplemental Indenture and each Note shall be deemed to be a New York contract and for all purposes shall be construed in accordance with the laws of said state. 

The Trustee hereby accepts the trusts in this Sixth Supplemental Indenture declared and provided, upon the terms and conditions hereinabove
set forth. 
 [Signatures on following page] 

  
 26 

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

					
	OLIN CORPORATION
		
	By:	 	/s/ Teresa Vermillion
		 	Name:	 	Teresa Vermillion
		 	Title:	 	Vice President and Treasurer

  

					
	By:	 	/s/ Todd A. Slater
		 	Name:	 	Todd A. Slater
		 	Title:	 	Vice President and Chief Financial Officer

  

					
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:	 	/s/ Donald T. Hurrelbrink
		 	Name:	 	Donald T. Hurrelbrink
		 	Title:	 	Vice President

  
 [Signature Page to
Sixth Supplemental Indenture] 

 EXHIBIT A 

FORM OF 5.625% SENIOR NOTE 
 (Face
of Note) 
 5.625% Senior Notes due 2029 

[Global Notes Legend] 
 [Insert
the Global Note Legend, if applicable, pursuant to the provisions of the Indenture] 

 OLIN CORPORATION 

5.625% SENIOR NOTES DUE 2029 
  

					
	No.     	 		 	CUSIP:
		 		 	ISIN:

 Olin Corporation promises to pay to Cede & Co., or registered assigns, the principal sum of
                 Dollars ($        ) on August 1, 2029. 

Interest Payment Dates: February 1 and August 1, beginning February 1, 2020 

Record Dates: January 15 and July 15 

Reference is made to further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as 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 Note shall not be entitled to any benefits under the Indenture referred to on the reverse hereof or be valid or obligatory for any purpose. 

 In WITNESS HEREOF, the Company has caused this instrument to be duly executed. 

 

					
	Dated:
		
		 	    OLIN CORPORATION
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  

					
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Debt Securities of the series designated therein 

referred to in the within-mentioned Indenture: 
 Dated: 

 

			
	 U.S. BANK NATIONAL ASSOCIATION,

    as Trustee

		
	By:	 	 
		 	Authorized Signatory

 (Reverse of Note) 

5.625% Senior Notes due 2029 
 OLIN
CORPORATION 
 Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise
indicated. 
 (1)    Interest. Olin Corporation, a Virginia corporation, or its successor (together,
“Olin”), promises to pay interest on the principal amount of this Note (the “Notes”) at a fixed rate of 5.625% per annum. Olin will pay interest in United States dollars semi-annually in arrears on
February 1 and August 1 of each year, commencing on February 1, 2020 or, if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”). Interest on the Notes shall accrue
from the most recent date to which interest has been paid or, if no interest has been paid, from and including July 16, 2019; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note
is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date (but after July 16, 2019), interest shall accrue from such next succeeding Interest Payment Date, except in the case of the
original issuance of the Notes, in which case interest shall accrue from the date of authentication. Interest shall be computed on the basis of a 360-day year comprised of twelve
30-day months. The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application. 

(2)    Method of Payment. Olin will pay interest on the Notes (except defaulted interest) on the applicable
Interest Payment Date to the Persons who are registered Holders of the Notes at the close of business on the January 15 and July 15 preceding the Interest Payment Date, even if such Notes are cancelled after such record date and on or
before such Interest Payment Date, except as provided in Section 2.4 of the Sixth Supplemental Indenture with respect to defaulted interest. The Notes shall be payable as to principal, premium and interest at the office or agency of Olin
maintained for such purpose within or without the City and State of New York, or, at the option of Olin, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that
payment by wire transfer of immediately available funds shall be required with respect to principal of, premium, if any, and interest on, all Global Notes and all other Notes the Holders of which shall have provided written wire transfer
instructions to Olin and the Paying Agent. Such payment shall be 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. 

Any payments of principal of, and interest on, this Note prior to Stated Maturity shall be binding upon all future Holders of this Note and of
any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. The amount due and payable at the maturity of this Note shall be payable only upon presentation and surrender of this Note
at an office of the Trustee or the Trustee’s agent appointed for such purposes. 

 (3)    Paying Agent and Registrar. Initially, U.S. Bank National
Association, the Trustee under the Indenture with respect to the Notes, shall act as Paying Agent and Registrar. Olin may change any Paying Agent or Registrar without notice to any Holder. Olin or any of its Subsidiaries may act in any such
capacity. 
 (4)    Indenture. Olin issued the Notes under an Indenture dated as of August 19, 2009 (as
supplemented and amended by the Second Supplemental Indenture dated as of August 9, 2012, among Olin, the Original Trustee and the Trustee, the “Base Indenture”), as further supplemented and amended by the Sixth Supplemental
Indenture dated as of July 16, 2019 (the “Sixth Supplemental Indenture” and the Base Indenture, as so supplemented and amended, the “Indenture”), between Olin and the Trustee. The terms of the Notes include
those stated in the Indenture and those made a part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb) (the “TIA”). To the extent the provisions of this Note are
inconsistent with the provisions of the Indenture, the Indenture shall govern. The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms. The Notes issued on the Issue Date are
senior unsecured obligations of Olin limited to $750,000,000 in aggregate principal amount, plus amounts, if any, sufficient to pay premium and interest on outstanding Notes as set forth in Paragraph 2 hereof. The Indenture permits the issuance of
Additional Notes subject to compliance with certain conditions. 
 (5)    Optional Redemption. Except as
set forth below, Olin shall not be entitled to redeem the Notes at its option. 
 (i)    At any time
prior to August 1, 2024, Olin may redeem the Notes at its option in whole at any time or in part from time to time, upon notice as described below, at a redemption price equal to 100% of the principal amount of the Notes redeemed plus the
Applicable Premium as of, and accrued and unpaid interest, if any, to, but excluding, the date of redemption (the “Redemption Date”), subject to the rights of the holders of record on the relevant record date to receive interest due
on the relevant interest payment date. 
 (ii)    The Notes are redeemable at Olin’s option, in
whole at any time or in part from time to time, on or after August 1, 2024 at the redemption prices (expressed as a percentage of principal amount of the Notes to be redeemed) set forth below, plus accrued and unpaid interest thereon, if any,
to, but excluding, the Redemption Date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), if redeemed during the twelve-month period beginning on August 1 of
the years indicated below: 
  

					
	 Year
	  	Redemption Price	 
	 2024
	  	 	102.813	% 
	 2025
	  	 	101.875	% 
	 2026
	  	 	100.938	% 
	 2027 and thereafter
	  	 	100.000	% 

 (iii)    In addition, until August 1, 2022, Olin
may, at any time and from time to time, upon notice as described below, redeem up to 35.0% of the aggregate principal amount of the Notes (including Additional Notes, if any) then outstanding at a redemption price equal to 105.625% of the aggregate
principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date (subject to the rights of the holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date),
with the net cash proceeds received by Olin from one or more Equity Offerings; provided that (1) at least 65.0% of the aggregate principal amount of the Notes (including Additional Notes, if any) remains outstanding immediately after the
occurrence of each such redemption and (2) each such redemption occurs within 90 days of the closing of the applicable Equity Offering. 

If Olin is redeeming less than all of the Notes at any time, the Trustee will select Notes on a pro rata basis to the extent practicable or in
such manner as it shall deem fair and appropriate, subject to applicable exchange or depositary requirements. 
 Olin will redeem Notes of
$2,000 or less in whole and not in part. Olin will cause notices of redemption to be delivered at least 30 but not more than 60 days before the redemption date to each holder of Notes to be redeemed at its registered address (or sent electronically
in accordance with the applicable procedures of the depositary in the case of global Notes), except that redemption notices may be sent more than 60 days prior to the redemption date if the notice is issued in connection with a defeasance of Notes
or a satisfaction and discharge of the Indenture. Any inadvertent defect in the notice of redemption, including an inadvertent failure to give notice, to any holder selected for redemption will not impair or affect the validity of the redemption of
any other Note redeemed in accordance with provisions of the Indenture. 
 If any Note is to be redeemed in part only, the notice of
redemption that relates to that Note will state the portion of the principal amount thereof to be redeemed. Olin will issue a new Note in a principal amount equal to the unredeemed portion of the original Note in the name of the holder upon
cancellation of the original Note; provided that new Notes will only be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess of $2,000. Notes held in certificated form must be surrendered to the paying agent in
order to collect the redemption price. Unless Olin defaults in the payment of the redemption price (and subject to the prior satisfaction (or waiver by Olin) of any conditions precedent to the redemption), on and after the Redemption Date, interest
ceases to accrue on Notes or portions of them called for redemption. 
 Notice of any redemption may, at the Olin’s discretion, be
subject to one or more conditions precedent. In the event that the relevant conditions precedent are not satisfied (or waived by Olin) as of the date specified for redemption in any such notice (or amendment thereto), Olin may, in its discretion,
rescind such notice or amend it on one or more occasions to specify another redemption date until the satisfaction (or waiver by Olin) of any such conditions precedent, unless such notice is earlier rescinded by Olin as described above. Subject to
the foregoing, Notes called for redemption become due on the date fixed for redemption. 
 (6)    Mandatory
Redemption. Olin shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes. 

(7)    [reserved]  

 (8)    Upon the occurrence of a Change of Control Repurchase Event, Olin
shall make an offer to repurchase Notes, if and in the manner required by Section 4.1 of the Sixth Supplemental Indenture. 

(9)    Denominations, Transfer, Exchange. The Notes are in registered form without coupons in initial denominations
of $2,000 and any integral multiple of $1,000 in excess thereof. The transfer of the Notes may be registered and the Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to
furnish appropriate endorsements and transfer documents and Olin may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. Olin need not exchange or register the transfer of any Note or portion of a Note selected
for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, it need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a
record date and the corresponding Interest Payment Date. 
 (10)    Persons Deemed Owners. The registered holder
of a Note may be treated as its owner for all purposes. 
 (11)    Defaults and Remedies. Each of the following
constitutes an “Event of Default”: 
 (A)    default in the payment in respect of the
principal of (or premium, if any, on) any Note when due and payable (whether at Stated Maturity or upon repurchase, acceleration, optional redemption or otherwise); 

(B)    default in the payment of any interest upon any Note when it becomes due and payable, and
continuance of such default for a period of 30 days; 
 (C)    default in the performance, or breach, of
any covenant or agreement of Olin or any Subsidiary in the Indenture (other than a covenant or agreement a default in the performance of which or the breach of which specifically dealt with in clauses (A) or (B) above), and continuance of such
default or breach for a period of 60 days after written notice thereof has been given to Olin by the Trustee or to Olin and the Trustee by the Holders of at least 25% in aggregate principal amount of the outstanding Notes (provided that, and
without limiting the foregoing in this clause (C), in the case of a default or breach of any covenant or agreement set forth in Section 5.03 of the Base Indenture (as amended by the Sixth Supplemental Indenture), no Event of Default shall occur
(and any such default or breach shall be deemed to not have occurred for all purposes under the Indenture) with respect to any failure to furnish or file any information or report required thereunder if Olin files or furnishes such information or
report within 120 days after Olin was required (or would have been required) to file the same pursuant to the Commission’s rules and regulations); or 

(D)    (i) Olin or any Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy
Law: 
 (a)    commences a voluntary case; 

 (b)    consents to the entry of an order for relief
against it in an involuntary case; 
 (c)    consents to the appointment of a custodian of it or for all
or substantially all of its property; 
 (d)    makes a general assignment for the benefit of its
creditors; or 
 (e)    generally is not paying its debts as they become due; or 

(ii)    a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(a)    is for relief against Olin or any Significant Subsidiary, in an involuntary case; 

(b)    appoints a custodian of Olin or any Significant Subsidiary for all or substantially all of the
property of Olin or any of its Significant Subsidiaries; or 
 (c)    orders the liquidation of Olin or
any Significant Subsidiary; 
 and the order or decree remains unstayed and in effect for 60 consecutive days. 

(12)    Trustee Dealings with Olin. The Trustee, in its individual or any other capacity, may make loans to, accept
deposits from, and perform services for Olin or its affiliates, and may otherwise deal with Olin or its affiliates, as if it were not the Trustee. 

(13)    No Recourse Against Others. No director, officer, employee, stockholder, general or limited partner or
incorporator, past, present or future, of Olin or any of its Subsidiaries, as such or in such capacity, shall have any personal liability for any obligations of Olin under the Notes or the Indenture by reason of his, her or its status as such
director, officer, employee, stockholder, general or limited partner or incorporator. Each Holder of the Notes by accepting the Note waives and releases all such liability. The waiver and release are part of the consideration for the issuances of
such Notes. 
 No recourse may, to the full extent permitted by applicable law, be taken, directly or indirectly, with respect to the
obligations of Olin on the Notes or under the Indenture or any related documents, any certificate or other writing delivered in connection therewith, against (i) the Trustee in its individual capacity, or (ii) any partner, owner,
beneficiary, agent, officer, director, employee, agent, successor or assign of the Trustee, each in its individual capacity, or (iii) any holder of equity in the Trustee. 

Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the
issuance of the Notes. 
 (14)    Authentication. This Note shall not be valid until authenticated by the manual
signature of the Trustee or an authenticating agent. 

 (15)    Abbreviations. Customary abbreviations may be used in the
name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to
Minors Act). 
 (16)    CUSIP, ISIN Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, Olin has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP, ISIN or other similar numbers in notices of redemption as a convenience to the Holders. No representation is made as to the
accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

(17)    GOVERNING LAW. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THE
NOTES. EACH OF THE PARTIES TO THE INDENTURE, AND EACH HOLDER OF A NOTE BY ITS ACCEPTANCE THEREOF HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT
OF OR RELATING TO THE INDENTURE OR THE NOTES OR THE TRANSACTIONS CONTEMPLATED THEREBY OR HEREBY. 
 Olin shall furnish to any Holder upon
written request and without charge a copy of the Indenture. Requests may be made to: 
 Olin Corporation 

190 Carondelet Plaza 
 Suite 1530

 Clayton, Missouri 63105 

Facsimile: (314) 862-7406 

Attention: Eric Blanchard, Esq. 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to 

 

	
	   

 (Insert assignee’s soc. sec. or tax I.D. no.) 

	
	 
	 
	 

 (Print or type assignee’s name, address and zip code) 

and irrevocably appoint
                                         
                            to transfer this Note on the books of Olin. The agent may substitute another to act
for him. 
  

			
	Date:	 	 

  

			
	Your Signature:	 	 
	(Sign exactly as your name appears on the face of this Note)

  

			
	
	Signature guarantee:	 	 

 (Signature must be guaranteed by a participant in a recognized signature guarantee medallion program) 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by Olin Corporation pursuant to Section 4.1 of the Sixth Supplemental Indenture (Change
of Control Repurchase Event), check the box below: 
 [    ] 

If you want to elect to have only part of the Note purchased by Olin Corporation pursuant to Section 4.1 of the Sixth Supplemental
Indenture (Change of Control Repurchase Event), state the amount you elect to have purchased: 

$                     
        
  

			
	Date:	 	 

  

			
	Your Signature:	 	 
	(Sign exactly as your name appears on the Note)

  

			
	Tax Identification Number:	 	 

  

			
	Signature guarantee:	 	 

 (Signature must be guaranteed by a participant in a recognized signature guarantee medallion program) 

 SCHEDULE A 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for other 5.625% Senior Notes due 2029 have been made: 

 

									
	 Date of

Exchange
	 	 Amount of

Decrease in
 Principal

Amount of this

Global Note
	 	 Amount of

Increase in
 Principal

Amount of this

Global Note
	 	 Principal

Amount of this
 Global Note

Following
 Such Decrease

(or Increase)
	 	 Signature of

Authorized
 Officer of

Trustee or
 Note

Custodian

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00297-of-00352.parquet"}]]