Document:

Amended and Restated Trust Agreement

 Exhibit 4.14 
 AMENDED AND RESTATED 
 TRUST AGREEMENT 
 Among 
 GAINSCO, INC. 
 as Depositor, 
 U.S. BANK NATIONAL
ASSOCIATION 
 as Property Trustee, 
 and 
 Glenn W. Anderson 
 and 
 Daniel J. Coots 
 as Administrators 
 Dated as of
December 21, 2006 
  

 GAINSCO STATUTORY TRUST II 
  

 GAINSCO STATUTORY TRUST II 
 Certain Sections of this Trust Agreement relating to Sections 310 through 318 
 of the
Trust Indenture Act of 1939: 
  

							
	 Trust Indenture Act Section
	  	Trust Agreement Section
	 Section
	  	310	  	(a)(1)	  	8.7
		  		  	(a)(2)	  	8.7
		  		  	(a)(3)	  	8.9
		  		  	(a)(4)	  	2.7(a)(ii)
		  		  	(b)	  	8.8, 10.10(b)
	 Section
	  	311	  	(a)	  	8.13, 10.10(b)
		  		  	(b)	  	8.13, 10.10(b)
	 Section
	  	312	  	(a)	  	10.10(b)
		  		  	(b)	  	10.10(b), (f)
		  		  	(c)	  	5.7
	 Section
	  	313	  	(a)	  	8.15(a)
		  		  	(a)(4)	  	10.10(c)
		  		  	(b)	  	8.15(c), 10.10(c)
		  		  	(c)	  	10.8, 10.10(c)
		  		  	(d)	  	10.10(c)
	 Section
	  	314	  	(a)	  	8.16, 10.10(d)
		  		  	(b)	  	Not Applicable
		  		  	(c)(1)	  	8.17, 10.10(d), (e)
		  		  	(c)(2)	  	8.17, 10.10(d), (e)
		  		  	(c)(3)	  	8.17, 10.10(d), (e)
		  		  	(e)	  	8.17, 10.10(e)
	 Section
	  	315	  	(a)	  	8.1(d)
		  		  	(b)	  	8.2
		  		  	(c)	  	8.1(c)
		  		  	(d)	  	8.1(d)
		  		  	(e)	  	Not Applicable
	 Section
	  	316	  	(a)	  	Not Applicable
		  		  	(a)(1)(A)	  	Not Applicable
		  		  	(a)(1)(B)	  	Not Applicable
		  		  	(a)(2)	  	Not Applicable
		  		  	(b)	  	5.13
		  		  	(c)	  	6.7
	 Section
	  	317	  	(a)(1)	  	Not Applicable
		  		  	(a)(2)	  	8.14
		  		  	(b)	  	5.10
	 Section
	  	318	  	(a)	  	10.10(a)

 Note: This reconciliation and tie shall not, for any purpose, be deemed to be a part of the Trust Agreement.

  

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 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I
	  	DEFINED TERMS	  	1
	      SECTION 1.1.
	  	Definitions	  	1
			
	 ARTICLE II
	  	CONTINUATION OF THE ISSUER TRUST	  	12
	      SECTION 2.1.
	  	Name	  	12
	      SECTION 2.2.
	  	Office of the Property Trustee; Principal Place of Business	  	12
	      SECTION 2.3.
	  	Initial Contribution of Trust Property; Organizational Expenses	  	12
	      SECTION 2.4.
	  	Issuance of the Restricted Capital Securities	  	13
	      SECTION 2.5.
	  	Issuance of the Common Securities; Subscription and Purchase of Junior Subordinated Debentures	  	13
	      SECTION 2.6.
	  	Authorization to Issue Additional Trust Securities; Authorization to Subscribe and Purchase Additional Junior Subordinated Debentures	  	13
	      SECTION 2.7.
	  	Declaration of Trust	  	14
	      SECTION 2.8.
	  	Authorization to Enter into Certain Transactions	  	14
	      SECTION 2.9.
	  	Assets of Trust	  	17
	      SECTION 2.10.
	  	Title to Trust Property	  	17
			
	 ARTICLE III
	  	PAYMENT ACCOUNT	  	17
	      SECTION 3.1.
	  	Payment Account	  	17
			
	 ARTICLE IV
	  	DISTRIBUTIONS; REDEMPTION	  	18
	      SECTION 4.1.
	  	Distributions	  	18
	      SECTION 4.2.
	  	Redemption	  	19
	      SECTION 4.3.
	  	Subordination of Common Securities	  	21
	      SECTION 4.4.
	  	Payment Procedures	  	22
	      SECTION 4.5.
	  	Tax Returns and Reports	  	22
	      SECTION 4.6.
	  	Payment of Taxes, Duties, Etc. of the Issuer Trust	  	23
	      SECTION 4.7.
	  	Payments under Indenture or Pursuant to Direct Actions	  	23
	      SECTION 4.8.
	  	Liability of the Holder of Common Securities	  	23
			
	 ARTICLE V
	  	TRUST SECURITIES CERTIFICATES	  	23
	      SECTION 5.1.
	  	Initial Ownership	  	23
	      SECTION 5.2.
	  	The Trust Securities Certificates	  	23
	      SECTION 5.3.
	  	Execution and Delivery of Trust Securities Certificates	  	24
	      SECTION 5.4.
	  	Global Capital Securities	  	24
	      SECTION 5.5.
	  	Registration of Transfer and Exchange Generally; Certain Transfers and Exchanges; Capital Securities Certificates; Securities Act Legends	  	26
	      SECTION 5.6.
	  	Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates	  	30
	      SECTION 5.7.
	  	Persons Deemed Holders	  	30
	      SECTION 5.8.
	  	Access to List of Holders’ Names and Addresses	  	30
	      SECTION 5.9.
	  	Maintenance of Office or Agency	  	30
	      SECTION 5.10.
	  	Appointment of Paying Agent	  	31
	      SECTION 5.11.
	  	Ownership of Common Securities by Depositor	  	31
	      SECTION 5.12.
	  	Notices to Clearing Agency	  	32

  

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	 SECTION 5.13.
	  	Rights of Holders	  	32
			
	 ARTICLE VI
	  	ACTS OF HOLDERS; MEETINGS; VOTING	  	34
	      SECTION 6.1.
	  	Limitations on Holders’ Voting Rights	  	34
	      SECTION 6.2.
	  	Notice of Meetings	  	35
	      SECTION 6.3.
	  	Meetings of Holders	  	35
	      SECTION 6.4.
	  	Voting Rights	  	36
	      SECTION 6.5.
	  	Proxies, etc.	  	36
	      SECTION 6.6.
	  	Holder Action by Written Consent	  	36
	      SECTION 6.7.
	  	Record Date for Voting and Other Purposes	  	37
	      SECTION 6.8.
	  	Acts of Holders	  	37
	      SECTION 6.9.
	  	Inspection of Records	  	38
			
	 ARTICLE VII
	  	REPRESENTATIONS AND WARRANTIES	  	38
	      SECTION 7.1.
	  	Representations and Warranties of the Property Trustee	  	38
	      SECTION 7.2.
	  	Representations and Warranties of Depositor	  	39
			
	 ARTICLE VIII
	  	THE PROPERTY TRUSTEE; THE ADMINISTRATORS	  	39
	      SECTION 8.1.
	  	Certain Duties and Responsibilities	  	39
	      SECTION 8.2.
	  	Certain Notices	  	42
	      SECTION 8.3.
	  	Certain Rights of Property Trustee	  	42
	      SECTION 8.4.
	  	Not Responsible for Recitals or Issuance of Securities	  	43
	      SECTION 8.5.
	  	May Hold Securities	  	43
	      SECTION 8.6.
	  	Compensation; Indemnity; Fees	  	44
	      SECTION 8.7.
	  	Corporate Property Trustee Required; Eligibility of Trustee and Administrators	  	45
	      SECTION 8.8.
	  	Conflicting Interests	  	45
	      SECTION 8.9.
	  	Co-Trustees and Separate Trustee	  	46
	      SECTION 8.10.
	  	Resignation and Removal; Appointment of Successor	  	47
	      SECTION 8.11.
	  	Acceptance of Appointment by Successor	  	48
	      SECTION 8.12.
	  	Merger, Conversion, Consolidation or Succession to Business	  	49
	      SECTION 8.13.
	  	Preferential Collection of Claims Against Depositor or Issuer Trust	  	49
	      SECTION 8.14.
	  	Trustee May File Proofs of Claim	  	49
	      SECTION 8.15.
	  	Reports by Property Trustee	  	50
	      SECTION 8.16.
	  	Reports to the Property Trustee	  	50
	      SECTION 8.17.
	  	Evidence of Compliance with Conditions Precedent	  	50
	      SECTION 8.18.
	  	Number of Trustees	  	51
	      SECTION 8.19.
	  	Delegation of Power	  	51
	      SECTION 8.20.
	  	Appointment of Administrators	  	51
			
	 ARTICLE IX
	  	DISSOLUTION, LIQUIDATION AND MERGER	  	52
	      SECTION 9.1.
	  	Dissolution Upon Expiration Date	  	52
	      SECTION 9.2.
	  	Early Dissolution	  	52
	      SECTION 9.3.
	  	Termination	  	52
	      SECTION 9.4.
	  	Liquidation	  	53
	      SECTION 9.5.
	  	Mergers, Consolidations, Amalgamations or Replacements of the Issuer Trust	  	54

  

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	 ARTICLE X
	  	MISCELLANEOUS PROVISIONS	  	55
	      SECTION 10.1.
	  	Limitation of Rights of Holders	  	55
	      SECTION 10.2.
	  	Amendment	  	55
	      SECTION 10.3.
	  	Separability	  	57
	      SECTION 10.4.
	  	Governing Law	  	57
	      SECTION 10.5.
	  	Payments Due on Non-Business Day	  	57
	      SECTION 10.6.
	  	Successors	  	58
	      SECTION 10.7.
	  	Headings	  	58
	      SECTION 10.8.
	  	Reports, Notices and Demands	  	58
	      SECTION 10.9.
	  	Agreement Not to Petition	  	59
	      SECTION 10.10.
	  	Trust Indenture Act; Conflict with Trust Indenture Act	  	59
	      SECTION 10.11.
	  	Acceptance of Terms of Trust Agreement, Guarantee and Indenture	  	60
			
	 Exhibit A.
	  	Certificate of Trust	  	A-1
			
	 Exhibit B.
	  	Form of Restricted Securities Certificate	  	B-1
			
	 Exhibit C.
	  	Form of Common Securities Certificate	  	C-1
			
	 Exhibit D.
	  	Form of Capital Securities Certificate	  	D-1
			
	 Exhibit E.
	  	Form of Placement Agreement	  	E-1

  

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 AMENDED AND RESTATED TRUST AGREEMENT 
 THIS AMENDED AND RESTATED TRUST AGREEMENT, dated as of December 21, 2006, is by and among (i) GAINSCO, INC., a Texas corporation (including any
successors or assigns, the “Depositor”), (ii) U.S. Bank National Association, a national banking association, as property trustee (in such capacity, the “Property Trustee” and, in its separate corporate
capacity and not in its capacity as Property Trustee, the “Bank”), (iii) the Administrators, as hereinafter defined, and (iv) the several Holders, as hereinafter defined. 
 WITNESSETH 
 WHEREAS, the Depositor
and the Property Trustee have heretofore duly declared and established a statutory trust pursuant to the Statutory Trust Act by entering into a certain Trust Agreement, dated as of December 13, 2006 (the “Original Trust
Agreement”), and by the execution and filing by the Property Trustee with the Secretary of State of the State of Connecticut of the Certificate of Trust, filed on December 13, 2006 (the “Certificate of Trust”),
attached as Exhibit A; and 
 WHEREAS, the Depositor and the Property Trustee desire to amend and restate the Original Trust Agreement
in its entirety as set forth herein to provide for, among other things, (i) the issuance of the Common Securities by the Issuer Trust to the Depositor, (ii) the issuance and sale of the Capital Securities by the Issuer Trust pursuant to
the Placement Agreement, (iii) the acquisition by the Issuer Trust from the Depositor of all of the right, title and interest in the Junior Subordinated Debentures, (iv) the appointment of the Administrators and (v) the addition of
the Property Trustee as a party to this Trust Agreement. 
 NOW THEREFORE, in consideration of the agreements and obligations set forth
herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each party, intending to be legally bound, for the benefit of the other parties and for the benefit of the Holders, hereby amends and
restates the Original Trust Agreement in its entirety and agrees, as follows: 
 ARTICLE I 
 DEFINED TERMS 
 SECTION 1.1.
Definitions. 
 For all purposes of this Trust Agreement, except as otherwise expressly provided or unless the context otherwise requires:

 (1) The terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular;

 (2) All other terms used herein that are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings
assigned to them therein; 
  

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 (3) The words “include,” “includes” and “including” shall be deemed to be
followed by the phrase “without limitation”; 
 (4) All accounting terms used but not defined herein have the meanings assigned to
them in accordance with United States generally accepted accounting principles as in effect at the time of determination; 
 (5) Unless the
context otherwise requires, any reference to an “Article” or a “Section” refers to an Article or a Section, as the case may be, of this Trust Agreement; 
 (6) The words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Trust Agreement as a whole
and not to any particular Article, Section or other subdivision; and 
 (7) All references to the date the Capital Securities were originally
issued shall refer to the date hereof. 
 “Act” has the meaning specified in Section 6.8. 
 “Additional Amounts” means, with respect to Trust Securities of a given Liquidation Amount and/or a given period, the amount of any
Additional Interest (as defined in the Indenture) paid by the Depositor on a Like Amount of Junior Subordinated Debentures for such period. 
 “Additional Sums” has the meaning specified in Section 10.6 of the Indenture. 
 “Administrators” means each Person appointed in accordance with Section 8.20 solely in such Person’s capacity as Administrator of the Issuer Trust continued hereunder and not in such Person’s individual
capacity, or any successor Administrator appointed as herein provided; with the initial Administrators being Glenn W. Anderson and Daniel J. Coots. 
 “Affiliate” means with respect to any specified Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this
definition, “control” means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. 
 “Applicable Procedures” mean, with respect to any
transfer or transaction involving a Global Capital Security or beneficial interest therein, the rules and procedures of the Clearing Agency for such Global Capital Security, in each case to the extent applicable to such transaction and as in effect
from time to time. 
 “Bank” has the meaning specified in the preamble to this Trust Agreement. 
  

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 “Bankruptcy Event” means, with respect to any Person: 
 (1) the entry of a decree or order by a court having jurisdiction in the premises judging such Person a bankrupt or insolvent, or approving as properly
filed a petition seeking reorganization, arrangement, adjudication or composition of or in respect of such Person under any applicable Federal or state bankruptcy, insolvency, reorganization or other similar law, or appointing a receiver,
conservator, liquidator, assignee, trustee, sequestrator (or other similar official) of such Person or of any substantial part of its property or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order
unstayed and in effect for a period of 60 consecutive days; or 
 (2) the institution by such Person of proceedings to be adjudicated a
bankrupt or insolvent, or the consent by it to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or state
bankruptcy, insolvency, reorganization or other similar law, or the consent by it to the filing of any such petition or to the appointment of a receiver, conservator, liquidator, assignee, trustee, sequestrator (or similar official) of such Person
or of any substantial part of its property or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due and its willingness to be adjudicated a
bankrupt, or the taking of corporate action by such Person in furtherance of any such action. 
 “Bankruptcy Laws” has the
meaning specified in Section 10.9. 
 “Board of Directors” means the board of directors of the Depositor or the
Executive Committee of the board of directors of the Depositor (or any other committee of the board of directors of the Depositor performing similar functions) or a committee designated by the board of directors of the Depositor (or any such
committee), comprised of two or more members of the board of directors of the Depositor or officers of the Depositor, or both. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Depositor to have been duly adopted by the Depositor’s Board of Directors, or such committee of the Board of
Directors or officers of the Depositor to which authority to act on behalf of the Board of Directors has been delegated, and to be in full force and effect on the date of such certification, and delivered to the Property Trustee. 
 “Business Day” means a day other than (a) a Saturday or Sunday, (b) a day on which banking institutions in the City of New
York, New York or the City of Boston, Massachusetts are authorized or required by law or executive order to remain closed or (c) a day on which either the Corporate Trust Office or the Indenture Trustee’s corporate trust office is closed
for business. 
 “Capital Securities Certificate” means a certificate evidencing ownership of Capital Securities,
substantially in the form attached as Exhibit D, and shall, unless specified otherwise herein, include a Restricted Securities Certificates, substantially in the form attached hereto as Exhibit B. The Capital Securities
Certificate shall be issued initially with a Restricted Capital 

  

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Securities Legend, which shall remain on such certificate until the Depositor and the Issuer Trust receive an Opinion of Counsel that such legend can be
removed consistent with the Securities Act. 
 “Capital Security” means a preferred undivided beneficial interest in the
assets of the Issuer Trust, having a Liquidation Amount of $1,000 or an integral multiple in excess of such amount and having the rights provided therefor in this Trust Agreement, including the right to receive Distributions and a Liquidation
Distribution as provided herein. 
 “Cede” means Cede & Co., as the nominee of the Depositary. 
 “Certificate of Trust” has the meaning specified in the preamble to this Trust Agreement. 
 “Clearing Agency” means an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act.
The Depositary shall be the initial Clearing Agency. 
 “Clearing Agency Participant” means a broker, dealer, bank, other
financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency. 
 “Closing” and “Closing Date” have the respective meanings specified in the Placement Agreement. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Commission” means the United States Securities and Exchange Commission, or, if at any time after the execution of this instrument such
Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 
 “Common Securities Certificate” means a certificate evidencing ownership of Common Securities, substantially in the form attached as Exhibit C. 
 “Common Security” means an undivided beneficial interest in the assets of the Issuer Trust, having a Liquidation Amount of $1,000 and
integral multiples in excess thereof and having the rights provided therefor in this Trust Agreement, including the right to receive Distributions and a Liquidation Distribution as provided herein. 
 “Corporate Trust Office” means the principal office of the Property Trustee located in the City of Hartford, Connecticut, which at the
time of the execution of this Trust Agreement is located at 225 Asylum Street, 23rd Floor, Hartford, Connecticut 06103, Attention: Corporate Trust Services – GAINSCO Statutory Trust II. 
  

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 “Debenture Event of Default” means an “Event of Default” as defined in the
Indenture. 
 “Debenture Redemption Date” means, with respect to any Junior Subordinated Debentures to be redeemed under the
Indenture, the date fixed for redemption of such Debentures under the Indenture. 
 “Depositary” means The Depository Trust
Company or any successor thereto. 
 “Depositor” has the meaning specified in the preamble to this Trust Agreement.

 “Direct Action” has the meaning specified in Section 5.13(c). 
 “Distribution Date” has the meaning specified in Section 4.1(a). 
 “Distributions” means amounts payable in respect of the Trust Securities as provided in Section 4.1. 
 “Early Termination Event” has the meaning specified in Section 9.2. 
 “Event of Default” means any one of the following events (whatever the reason for such event and whether it shall be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 
 (1) the occurrence of a Debenture Event of Default; or 
 (2) default by the Issuer Trust in the payment of any Distribution when it becomes due and payable, and continuation of such default for a period of 30 days; or 
 (3) default by the Issuer Trust in the payment of any Redemption Price of any Trust Security when it becomes due and payable; or 
 (4) default in the performance, or breach, in any material respect, of any covenant or warranty of the Property Trustee in this Trust Agreement (other
than a covenant or warranty a default in the performance of which or the breach of which is dealt with in clause (2) or (3) above) and continuation of such default or breach for a period of 60 days after there has been given, by
registered or certified mail, to the Property Trustee and the Depositor by the Holders of at least 25% in aggregate Liquidation Amount of the Outstanding Capital Securities, a written notice specifying such default or breach and requiring it to be
remedied and stating that such notice is a “Notice of Default” hereunder; or 
 (5) the occurrence of any Bankruptcy Event with
respect to the Property Trustee or all or substantially all of its property if a successor Property Trustee has not been appointed within a period of 90 days thereof. 
  

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 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and any
successor statute thereto, as amended from time to time. 
 “Expiration Date” has the meaning specified in Section 9.1.

 “Global Capital Securities Certificate” means a Capital Securities Certificate or Restricted Securities Certificate, as
the case may be, evidencing ownership of Capital Securities, the ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.4. 
 “Global Capital Security” means those Capital Securities evidenced by the Global Capital Securities Certificate. 
 “Guarantee” means the Guarantee Agreement executed and delivered by the Depositor and the Guarantee Trustee, contemporaneously with the
execution and delivery of this Trust Agreement, for the benefit of the Holders of the Capital Securities, as amended from time to time. 
 “Guarantee Trustee” means U.S. Bank National Association, solely in its capacity as the trustee that holds the Guarantee for the benefit of the Holders and not in its individual capacity, or its successor in interest in
such capacity, or any successor trustee appointed as herein provided. 
 “Holder” means a Person in whose name a Trust
Security or Trust Securities is registered in the Securities Register; any such Person shall be deemed to be a beneficial owner within the meaning of the Statutory Trust Act. 
 “Indemnified Person” has the meaning provided in Section 8.6. 
 “Indenture” means the Junior Subordinated Indenture, dated of even date herewith, between the Depositor and the Indenture Trustee (as
amended or supplemented from time to time) relating to the issuance of the Junior Subordinated Debentures. 
 “Indenture
Trustee” means U.S. Bank National Association, a national banking association and any successor. 
 “Investment Company
Act” means the Investment Company Act of 1940 or any successor statute thereto, in each case as may be amended from time to time. 
 “Investment Company Event” means the receipt by the Issuer Trust of an Opinion of Counsel experienced in such matters to the effect that, as a result of the occurrence of a change in law or regulation or a written change
(including any announced prospective change) in interpretation or application of law or regulation by any legislative body, court, governmental agency or regulatory authority, there is more than an insubstantial risk that the Issuer Trust is or will
be considered an “investment company” that is required to be registered under the Investment Company Act, which change or prospective change becomes effective or would 
 become effective, as the case may be, on or after the date of the issuance of the Capital Securities. 
  

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 “Issuer Trust” means GAINSCO Statutory Trust II, a Connecticut statutory trust created
under the Statutory Trust Act. 
 “Junior Subordinated Debentures” means the Depositor’s Floating Rate Junior
Subordinated Deferrable Interest Debentures, due March 15, 2037, issued pursuant to the Indenture. 
 “Lien” means any
lien, pledge, charge, encumbrance, mortgage, deed of trust, adverse ownership interest, hypothecation, assignment, security interest or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever.

 “Like Amount” means (a) with respect to a redemption of Trust Securities, Trust Securities having a Liquidation
Amount equal to the principal amount of Junior Subordinated Debentures to be contemporaneously redeemed in accordance with the Indenture, allocated to the Common Securities and to the Capital Securities pro rata based upon the relative Liquidation
Amounts of such classes and (b) with respect to a distribution of Junior Subordinated Debentures to Holders of Trust Securities in connection with a dissolution or liquidation of the Issuer Trust, Junior Subordinated Debentures having a
principal amount equal to the Liquidation Amount of the Trust Securities of the Holder to whom such Junior Subordinated Debentures are distributed. 
 “Liquidation Amount” means the stated amount of $1,000.00 per Capital Security and $1,000.00 per Common Security. 
 “Liquidation Date” means the date on which Junior Subordinated Debentures are to be distributed to Holders of Trust Securities in connection with a dissolution and liquidation of the Issuer Trust pursuant to
Section 9.4. 
 “Liquidation Distribution” has the meaning specified in Section 9.4(d). 
 “Majority in Liquidation Amount of the Capital Securities” or “Majority in Liquidation Amount of the Common Securities”
means, except as provided by the Trust Indenture Act, Capital Securities or Common Securities, as the case may be, representing more than 50% of the aggregate Liquidation Amount of all then Outstanding Capital Securities or Common Securities, as the
case may be. 
 “Majority in Liquidation Amount of all Trust Securities” means, except as provided by the Trust Indenture
Act, Trust Securities representing more than 50% of the aggregate Liquidation Amount of all then-outstanding Trust Securities. 
 “Officers’ Certificate” means a certificate signed by the Chairman of the Board, Vice Chairman of the Board, Chief Executive Officer, President or an Executive Vice President, a Senior Vice President or Vice President,
and by the Treasurer, an Assistant Treasurer, the Chief Financial Officer, the Secretary or an Assistant Secretary, of the Depositor, and delivered to the party provided herein. Any Officers’ Certificate delivered with respect to compliance
with a condition or covenant provided for in this Trust Agreement shall include: 
 (1) a statement by each officer signing the Officers’
Certificate that such officer has read the covenant or condition and the definitions relating thereto; 
  

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 (2) a brief statement of the nature and scope of the examination or investigation undertaken by such
officer in rendering the Officers’ Certificate; 
 (3) a statement that such officer has made such examination or investigation as, in
such officer’s opinion, is necessary to enable such officer to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (4) a statement as to whether, in the opinion of each such officer, such condition or covenant has been complied with. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for or an employee of the Depositor or any Affiliate of the
Depositor. 
 “Original Trust Agreement” has the meaning specified in the preamble to this Trust Agreement. 
 “Outstanding,” with respect to Trust Securities, means, as of the date of determination, all Trust Securities theretofore executed and
delivered under this Trust Agreement, except: 
 (1) Trust Securities theretofore canceled by the Property Trustee or delivered to the
Property Trustee for cancellation; 
 (2) Trust Securities for whose payment or redemption cash in the necessary amount has been theretofore
deposited with the Property Trustee or any Paying Agent for the Holders of such Trust Securities, provided that if such Trust Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Trust Agreement; and

 (3) Trust Securities that have been paid or for which other Trust Securities have been executed and delivered in exchange therefor or in
lieu thereof pursuant to Sections 5.4, 5.5 and 5.6; provided, however, that in determining whether the Holders of the requisite Liquidation Amount of the Outstanding Capital Securities have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, Capital Securities owned by the Depositor, the Property Trustee, any Administrator or any Affiliate of the Depositor, shall be disregarded and deemed not to be Outstanding, except that (a) in determining
whether the Property Trustee or any Administrator shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Capital Securities that such Property Trustee or such Administrator, as the case
may be, knows to be so owned shall be so disregarded and (b) the foregoing shall not apply at any time when all of the Outstanding Capital Securities are owned by the Depositor, the Property Trustee, one or more of the Administrators 

  

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and/or any such Affiliate. Capital Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Administrators the pledgee’s right so to act with respect to such Capital Securities and that the pledgee is not the Depositor or any Affiliate of the Depositor. 
 “Owner” means each Person who is the beneficial owner of Global Capital Securities as reflected in the records of the Clearing Agency
or, if a Clearing Agency Participant is not the Owner, then as reflected in the records of a Person maintaining an account with such Clearing Agency (directly or indirectly), in accordance with the rules of such Clearing Agency. 
 “Paying Agent” means any paying agent or co-paying agent appointed pursuant to Section 5.10 and shall initially be the Property
Trustee. 
 “Payment Account” means a segregated non-interest-bearing corporate trust account maintained with the Property
Trustee in its trust department for the benefit of the Holders in which all amounts paid in respect of the Junior Subordinated Debentures will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders
in accordance with Sections 4.1, 4.2 and 9.4. 
 “Person” means a legal person, including any individual, corporation,
estate, partnership, joint venture, association, joint stock company, company, limited liability company, trust, unincorporated organization or government or any agency or political subdivision thereof, or any other entity of whatever nature.

 “Placement Agent” means Cohen & Company. 
 “Placement Agreement” means the Placement Agreement among the Depositor, the Issuer Trust and the Placement Agent. 
 “Property Trustee” means the Person identified as the “Property Trustee” in the preamble to this Trust Agreement solely in its
capacity as Property Trustee of the Issuer Trust and not in its individual capacity, or its successor in interest in such capacity, or any successor property trustee appointed as herein provided. 
 “Redemption Date” means, with respect to any Trust Security to be redeemed, the date fixed for such redemption by or pursuant to this
Trust Agreement; provided that each Debenture Redemption Date and the stated maturity of the Junior Subordinated Debentures shall be a Redemption Date for a Like Amount of Trust Securities, including but not limited to any date of redemption
pursuant to the occurrence of any Special Event. 
 “Redemption Price” means a price equal to the Liquidation Amount,
together with accumulated Distributions to, but excluding, the Redemption Date. 
 “Responsible Officer” when used with
respect to the Property Trustee means any officer assigned to the Corporate Trust Office, including any managing director, vice president, principal, assistant vice president, assistant treasurer, assistant secretary or any other officer of 

  

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the Property Trustee customarily performing functions similar to those performed by any of the above designated officers and having direct responsibility for
the administration of the Indenture, and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 
 “Restricted Capital Securities” means all Capital Securities, including those represented by a Capital Securities Certificate, that are
required pursuant to Section 5.5(c) to bear a Restricted Capital Securities Legend. Such term includes the Global Capital Securities Certificate. 
 “Restricted Capital Securities Legend” means a legend substantially in the form of the legend required in the form of a Capital Securities Certificate set forth in Exhibit D to be placed upon a
Restricted Securities Certificate. 
 “Restricted Securities Certificate” means a certificate substantially in the form set
forth in Exhibit B. 
 “Securities” has the meaning specified in the recitals to the Indenture. 
 “Securities Act” means the Securities Act of 1933, as amended, and any successor statute thereto, in each case as amended from time to
time. 
 “Securities Register” and “Securities Registrar” have the respective meanings specified in
Section 5.5. 
 “Senior Indebtedness” has the meaning specified in the Indenture. 
 “Special Event” means any Tax Event or Investment Company Event. 
 “Statutory Trust Act” means Chapter 615 of Title 34 of the Connecticut General Statutes, 34 C.G.S. § 500 et
seq., as it may be amended from time to time, or any successor legislation. 
 “Successor Capital Securities” has the
meaning specified in Section 9.5. 
 “Tax Event” means the receipt by the Issuer Trust of an Opinion of Counsel
experienced in such matters to the effect that, as a result of any amendment to, or change (including any announced prospective change) in, the laws (or any regulations thereunder) of the United States or any political subdivision or taxing
authority thereof or therein, or as a result of any official or administrative pronouncement or action or judicial decision interpreting or applying such laws or regulations, which amendment or change is effective or which pronouncement, action or
decision is announced on or after the date of issuance of the Capital Securities (including, without limitation, any of the foregoing arising with respect to, or resulting from, any proceeding or other action commencing on or before such date),
there is more than an insubstantial risk that (i) the Issuer Trust is, or will be within 90 days of the delivery of such Opinion of Counsel, subject to United States federal income tax with respect to income received 

  

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or accrued on the Junior Subordinated Debentures, (ii) interest payable by the Depositor on the Junior Subordinated Debentures is not, or within
90 days of the delivery of such Opinion of Counsel will not be, deductible by the Depositor, in whole or in part, for United States federal income tax purposes, or (iii) the Issuer Trust is, or will be within 90 days of the delivery
of such Opinion of Counsel, subject to more than a de minimis amount of other taxes, duties or other governmental charges. 
 “3-Month LIBOR” means the London interbank offered rate for three-month, U.S. dollar deposits determined by the Indenture Trustee, with respect to the particular quarterly period, in the following order of priority:

 (i) the rate (expressed as a percentage per annum) for U.S. dollar deposits of an amount equal or comparable to the aggregate liquidation
amount of the Securities having a three-month maturity that appears on Telerate Page 3750 as of 11:00 a.m. (London time) on the particular Determination Date. “Telerate Page 3750” means the display designated as “Page 3750” on
the Dow Jones Telerate Service or such other page as may replace Page 3750 on that service or such other service or services as may be nominated by the British Bankers’ Association as the information vendor for the purpose of displaying London
interbank offered rates for U.S. dollar deposits; 
 (ii) if such rate cannot be identified on the related Determination Date, the Indenture
Trustee will request the principal London offices of four leading banks in the London interbank market to provide such banks’ offered quotations (expressed as percentages per annum) to prime banks in the London interbank market for U.S. dollar
deposits of an amount equal or comparable to the aggregate liquidation amount of the Securities having a three-month maturity as of 11:00 a.m. (London time) on such Determination Date. If at least two quotations are provided, 3-Month LIBOR will be
the arithmetic mean of such quotations; 
 (iii) if fewer than two such quotations are provided as requested in clause (ii) above, the
Indenture Trustee will request four major New York City banks to provide such banks’ offered quotations (expressed as percentages per annum) to leading European banks for loans in U.S. dollars of an amount equal or comparable to the aggregate
liquidation amount of the Securities as of 11:00 a.m. (London time) on such Determination Date. If at least two such quotations are provided, 3-Month LIBOR will be the arithmetic mean of such quotations; and 
 (iv) if fewer than two such quotations are provided as requested in clause (iii) above, 3-Month LIBOR will be a 3-Month LIBOR determined with
respect to the quarterly period immediately preceding such current quarterly period. 
 If the rate for U.S. dollar deposits having a
three-month maturity that initially appears on Telerate Page 3750 or Reuters Page LIBO, as the case may be, as of 11:00 a.m. (London time) on the related Determination Date is superseded on the Telerate page 3750 or Reuters Page LIBO, as the case
may be, by a corrected rate by 12:00 noon (London time) on such Determination Date, then the corrected rate as so substituted on the applicable page will be the applicable 3-Month LIBOR for such Determination Date. 
  

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 “Trust Agreement” means this Amended and Restated Trust Agreement, as the same may be
modified, amended or supplemented in accordance with the applicable provisions hereof, including (i) all exhibits hereto, and (ii) for all purposes of this Amended and Restated Trust Agreement and any such modification, amendment or
supplement, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this Amended and Restated Trust Agreement and any such modification, amendment or supplement, respectively. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939 or any successor statute thereto, in each case as amended from time to time.

 “Trust Property” means (a) the Junior Subordinated Debentures, (b) any cash on deposit in, or owing to, the
Payment Account, (c) all proceeds and rights in respect of the foregoing and (d) any other property and assets for the time being held or deemed to be held by the Property Trustee pursuant to the trusts of this Trust Agreement. 

“Trust Securities Certificate” means any one of the Common Securities Certificates or the Capital Securities Certificates.

 “Trust Security” means any one of the Common Securities or the Capital Securities. 
 ARTICLE II 
 CONTINUATION OF THE
ISSUER TRUST 
 SECTION 2.1. Name. 
 The Issuer Trust continued hereby shall be known as “GAINSCO Statutory Trust II”, as such name may be modified from time to time by the Administrators following written notice to the Holders of Trust
Securities and the Property Trustee, in which name the Administrators and the Property Trustee may engage in the transactions contemplated hereby, make and execute contracts and other instruments on behalf of the Issuer Trust and sue and be sued.

 SECTION 2.2. Office of the Property Trustee; Principal Place of Business. 
 The address of the Property Trustee is U.S. Bank National Association, One Federal Street,
3rd Floor, Boston, Massachusetts 02110, Attention: Corporate Trust Services, or such other address as the Property
Trustee may designate by written notice to the Holders and the Depositor. The principal executive office of the Issuer Trust is in care of GAINSCO, INC. 3333 Lee Parkway, Suite 1200, Dallas, Texas 75219, Attention: Chief Financial Officer.

 SECTION 2.3. Initial Contribution of Trust Property; Organizational Expenses. 
 The Property Trustee acknowledges receipt in trust from the Depositor in connection with the Original Trust Agreement of the sum of $10.00, which
constitutes the initial 

  

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Trust Property. The Depositor shall pay all organizational expenses of the Issuer Trust as they arise or shall, upon request of the Property Trustee,
promptly reimburse such Property Trustee for any such expenses paid by such Property Trustee. The Depositor shall make no claim upon the Trust Property for the payment of such expenses. 
 SECTION 2.4. Issuance of the Restricted Capital Securities. 
 The Depositor, the Issuer Trust, and the Placement Agent executed and delivered the Placement Agreement pursuant to the Original Trust Agreement. Contemporaneously with the execution and delivery of this Trust
Agreement, an Administrator, on behalf of the Issuer Trust, shall manually execute in accordance with Section 5.3 and the Property Trustee shall authenticate in accordance with Section 5.3 and deliver to the Clearing Agency or its
custodian, a Global Capital Securities Certificate, registered in the name of Cede & Co., in an aggregate amount of 18,000 Capital Securities having an aggregate Liquidation Amount of $18,000,000.00, against receipt of the aggregate
purchase price of such Capital Securities of $18,000,000.00 by the Property Trustee, subject to any discounts extended to the purchasers of the Capital. 
 SECTION 2.5. Issuance of the Common Securities; Subscription and Purchase of Junior Subordinated Debentures. 
 Contemporaneously with the execution and delivery of this Trust Agreement, an Administrator, on behalf of the Issuer Trust, shall execute in accordance with Section 5.3 and the Property Trustee shall authenticate and shall deliver to
the Depositor, Common Securities Certificates, registered in the name of the Depositor, having an aggregate Liquidation Amount of $557,000 against receipt of the aggregate purchase price of such Common Securities of $557,000 by the Property Trustee.
Contemporaneously therewith, an Administrator, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor the Junior Subordinated Debentures, registered in the name of the Property Trustee for the Issuer Trust, and having an
aggregate principal amount equal to $18,557,000, and, in satisfaction of the purchase price for such Junior Subordinated Debentures, the Property Trustee, on behalf of the Issuer Trust, shall deliver to the Depositor the sum of $18,557,000 (being
the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 2.4, and (ii) the first sentence of this Section 2.5) and receive on behalf of the Issuer Trust the Junior Subordinated
Debentures. 
 SECTION 2.6. Authorization to Issue Additional Trust Securities; Authorization to Subscribe and Purchase Additional Junior
Subordinated Debentures. 
 During the period ending 90 days following December 21, 2006, the Administrators, acting unanimously on
behalf of the Issuer Trust, with the prior written consent of the Depositor, may cause the Issuer Trust to issue additional Capital Securities and Common Securities on the same terms and in the manner and relative proportions set forth in Sections
2.4 and 2.5; provided, however, that any such additional issuance of Trust Securities shall occur contemporaneously with the issuance by the Depositor of additional Junior Subordinated Debentures on the same terms and in the manner set forth
in Section 2.5, which shall be subscribed for and purchased by an Administrator on behalf of the Issuer Trust, having an aggregate Liquidation Amount equal to the aggregate Liquidation Amount of the additional Trust Securities to be issued.

  

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 SECTION 2.7. Declaration of Trust. 
 The exclusive purposes and functions of the Issuer Trust are to (a) issue and sell Trust Securities and use the proceeds from such sale to acquire
the Junior Subordinated Debentures, and (b) engage in only those other activities necessary, convenient or incidental thereto. The Depositor hereby appoints the Property Trustee as trustee of the Issuer Trust, to have all the rights, powers and
duties to the extent set forth herein, and the Property Trustee hereby accepts such appointment. The Property Trustee hereby declares that it will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit
of the Issuer Trust and the Holders. The Depositor hereby appoints the Administrators, with such Administrators having all rights, powers and duties set forth herein with respect to accomplishing the purposes of the Issuer Trust, and the
Administrators hereby accept such appointment; provided, however, that it is the intent of the parties hereto that such Administrators shall not be trustees or, to the fullest extent permitted by law, fiduciaries with respect to the Issuer
Trust and this Trust Agreement shall be construed in a manner consistent with such intent. The Property Trustee shall have the right and power (but shall not be obligated) to perform those duties assigned to the Administrators. 
 SECTION 2.8. Authorization to Enter into Certain Transactions. 
 (a) The Property Trustee and the Administrators shall conduct the affairs of the Issuer Trust in accordance with the terms of this Trust Agreement. Subject to the limitations set forth in paragraph (b) of this
Section and in accordance with the following provisions (i) and (ii), the Property Trustee and the Administrators shall act as follows: 
 (i) each Administrator, acting jointly or singly, shall: 
 (A) comply with the Placement
Agreement regarding the issuance and sale of the Trust Securities; 
 (B) assist in compliance with the Securities Act,
applicable state securities or blue sky laws, and the Trust Indenture Act; 
 (C) assist in the listing of the Capital
Securities upon such securities exchange or exchanges, if any, as shall be determined by the Depositor, with the registration of the Capital Securities under the Exchange Act, if required or if requested by the Depositor, and the preparation and
filing of all periodic and other reports and other documents pursuant to the foregoing; 
 (D) execute the Trust Securities
on behalf of the Issuer Trust in accordance with this Trust Agreement; 
  

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 (E) execute and deliver an application for a taxpayer identification number for the
Issuer Trust; 
 (F) assist in the filing with the Commission, at such time as determined by the Depositor, any registration
statement, if any, under the Securities Act relating to the Trust Securities, including any amendments thereto; 
 (G) unless
otherwise required by the Trust Indenture Act, execute on behalf of the Issuer Trust any documents that the Administrators have the power to execute pursuant to this Trust Agreement; and 
 (H) take any action incidental to the foregoing as necessary or advisable to give effect to the terms of this Trust Agreement.

 (ii) The Property Trustee shall have the power and authority to act on behalf of the Issuer Trust with respect to the
following matters: 
 (A) the establishment of the Payment Account; 
 (B) the receipt of the Junior Subordinated Debentures; 
 (C) the receipt and collection of interest, principal and any other payments made in respect of the Junior Subordinated Debentures in the
Payment Account; 
 (D) the distribution through the Paying Agent of amounts owed to the Holders in respect of the Trust
Securities; 
 (E) the exercise of all of the rights, powers and privileges of a holder of the Junior Subordinated
Debentures; 
 (F) the sending of notices of default and other information regarding the Trust Securities and the Junior
Subordinated Debentures to the Holders thereof in accordance with this Trust Agreement; 
 (G) the distribution of the Trust
Property in accordance with the terms of this Trust Agreement; 
 (H) to the extent provided in this Trust Agreement, the
winding-up of the affairs of and liquidation of the Issuer Trust and the preparation, execution and filing of the certificate of cancellation with the Secretary of State of the State of Connecticut; and 
 (I) after an Event of Default (other than under paragraph (2), (3), (4), or (5) of the definition of such term if such Event of
Default is by or with respect to the Property Trustee), comply with the provisions of this Trust 

  

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Agreement and take any action to give effect to the terms of this Trust Agreement and protect and conserve the Trust Property for the benefit of the Holders
(without consideration of the effect of any such action on any particular Holder); 
 provided, however, that nothing in this
Section 2.8(a)(ii) shall require the Property Trustee to take any action that is not otherwise required in this Trust Agreement. 
 (iii) The Administrators shall comply with the listing requirements of the Capital Securities upon such securities exchange or exchanges, if any, as shall be determined by the Depositor, the registration of the
Capital Securities under the Exchange Act, if required or if requested by the Depositor, and the preparation and filing of all periodic and other reports and other documents pursuant to the foregoing. 
 (b) So long as this Trust Agreement remains in effect, the Issuer Trust (or the Property Trustee or Administrators acting on behalf of the Issuer Trust)
shall not undertake any business, activity or transaction except as expressly provided herein or contemplated hereby. In particular, neither the Property Trustee nor the Administrators shall (i) acquire any investments or engage in any
activities not authorized by this Trust Agreement, (ii) sell, assign, transfer, exchange, mortgage, pledge, set-off or otherwise dispose of any of the Trust Property or interests therein, including to Holders, except as expressly provided
herein, (iii) take any action that would cause the Issuer Trust to become taxable other than as a grantor trust for United States Federal income tax purposes, (iv) incur any indebtedness for borrowed money or issue any other debt,
(v) take or consent to any action that would result in the placement of a Lien on any of the Trust Property, except as expressly provided herein, (vi) invest any proceeds received by the Issuer Trust from holding the Junior Subordinated
Debentures, but shall distribute all such proceeds to Holders of Trust Securities pursuant to the terms of this Trust Agreement and of the Trust Securities, (vii) acquire any assets other than the Trust Property, (viii) possess any power
or otherwise act in such a way as to vary the Trust Property, (ix) possess any power or otherwise act in such a way as to vary the terms of the Trust Securities in any way whatsoever (except to the extent expressly authorized in this Trust
Agreement or by the terms of the Trust Securities) or (x) to issue any securities or other evidence of beneficial ownership of, or beneficial interest in, the Issuer Trust other than the Trust Securities. The Property Trustee shall defend all
claims and demands of all Persons at any time claiming any Lien on any of the Trust Property adverse to the interest of the Issuer Trust or the Holders in their capacity as Holders. 
 (c) In connection with the issue and sale of the Capital Securities, the Depositor shall have the right and responsibility to assist the Issuer Trust
with respect to, or effect on behalf of the Issuer Trust, the following (and any actions taken by the Depositor in furtherance of the following prior to the date of this Trust Agreement are hereby ratified and confirmed in all respects): 

(i) the preparation, execution and filing with the Commission of a registration statement on the appropriate form under the Securities
Act or the preparation of offering documents in reliance on one or more exemptions from registration under the Securities Act with respect to the Capital Securities; 
  

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 (ii) the determination of the states in which to take appropriate action to qualify or
register for sale or necessary to obtain any exemption from such qualification or registration of all or part of the Capital Securities and the determination of any and all such acts, other than actions that must be taken by or on behalf of the
Issuer Trust, and the advice to the Property Trustee of actions they must take on behalf of the Issuer Trust, and the preparation for execution and filing of any documents to be executed and filed by the Issuer Trust or on behalf of the Issuer
Trust, as the Depositor deems necessary or advisable in order to comply with the applicable laws of any such States in connection with the offer and sale of the Capital Securities; and 
 (iii) the taking of any other actions necessary or desirable to carry out any of the foregoing activities. 
 (d) Notwithstanding anything herein to the contrary, the Administrators and the Property Trustee are authorized and directed to conduct the affairs of
the Issuer Trust and to operate the Issuer Trust so that the Issuer Trust will not be deemed to be an “investment company” required to be registered under the Investment Company Act, and will not be taxable other than as a grantor trust
for United States Federal income tax purposes and so that the Junior Subordinated Debentures will be treated as indebtedness of the Depositor for United States Federal income tax purposes. In this connection, the Property Trustee and the Holders of
Common Securities are authorized to take any action, not inconsistent with applicable law, the Certificate of Trust or this Trust Agreement, that the Property Trustee and Holders of Common Securities determine in their discretion to be necessary or
desirable for such purposes, as long as such action does not adversely affect in any material respect the interests of the Holders of the Outstanding Capital Securities. In no event shall the Administrators or the Property Trustee be liable to the
Issuer Trust or the Holders for any failure to comply with this Section that results from a change in law or regulations or in the interpretation thereof. 
 SECTION 2.9. Assets of Trust. 
 The assets of the Issuer Trust shall consist solely of the Trust
Property. 
 SECTION 2.10. Title to Trust Property. 
 Legal title to all Trust Property shall be vested at all times in the Property Trustee (in its capacity as such) and shall be held and administered by the Property Trustee for the benefit of the Issuer Trust and the
Holders in accordance with this Trust Agreement. 
 ARTICLE III 
 PAYMENT ACCOUNT 
 SECTION 3.1. Payment Account. 
 (a) At or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and its agents shall have exclusive
control and sole 

  

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right of withdrawal with respect to the Payment Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with
this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property Trustee in the Payment Account for the exclusive benefit of the Holders and for distribution as herein
provided, including (and subject to) any priority of payments provided for herein. 
 (b) The Property Trustee shall deposit in the Payment
Account, promptly upon receipt, all payments of principal of or interest on, and any other payments or proceeds with respect to, the Junior Subordinated Debentures. Amounts held in the Payment Account shall not be invested by the Property Trustee
pending distribution thereof. 
 ARTICLE IV 
 DISTRIBUTIONS; REDEMPTION 
 SECTION 4.1. Distributions. 
 (a) The Trust Securities represent undivided beneficial interests in the Trust Property, and Distributions (including of Additional Amounts) will be made
on the Trust Securities at the rate and on the dates that payments of interest (including of Additional Interest, as defined in the Indenture) are made on the Junior Subordinated Debentures. Accordingly: 
 (i) Distributions on the Trust Securities shall be cumulative and will accumulate whether or not there are funds of the Issuer Trust
available for the payment of Distributions. Distributions shall accumulate from the date of issue of the Trust Securities, and, except in the event (and to the extent) that the Depositor exercises its right to defer the payment of interest on the
Junior Subordinated Debentures pursuant to the Indenture, shall be payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, commencing on March 15, 2007. If any date on which a
Distribution is otherwise payable on the Trust Securities is not a Business Day, then the payment of such Distribution shall be made on the next succeeding day that is a Business Day (without any interest, additional Distributions or other payment
in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date on
which such payment was originally payable (each date on which distributions are payable in accordance with this Section 4.1(a), a “Distribution Date”). 
 (ii) The Trust Securities shall be entitled to Distributions payable at a floating rate, reset quarterly on each Distribution Date for the
next succeeding quarter, equal to 3-Month LIBOR rate of interest for the last London Banking Day (which is any day on which dealings in deposits in U.S. dollars are transacted in the London interbank market) of each of March, June, September and
December, as applicable, plus 3.75% on the liquidation amount of each Trust Security (“Floating Rate”). The amount of Distributions payable for any full quarterly period shall be computed on the basis of a 

  

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360-day year of twelve 30-day months. The amount of Distributions for any period less than a full quarter shall be computed on the basis of a 360-day year
and the actual number of days elapsed during that period. The amount of Distributions payable for any period shall include any Additional Amounts in respect of such period. 
 (iii) So long as no Debenture Event of Default has occurred and is continuing, the Depositor has the right under the Indenture to defer
the payment of interest on the Junior Subordinated Debentures at any time and from time to time for a period not exceeding 20 consecutive quarterly periods (an “Extension Period”), provided that no Extension Period may
extend beyond March 15, 2037, or end on a date that is not a scheduled interest payment date. As a consequence of any such deferral, quarterly Distributions on the Trust Securities by the Issuer Trust will also be deferred and the amount of
Distributions to which Holders of the Trust Securities are entitled will accumulate additional Distributions thereon at the Floating Rate, compounded quarterly, to the extent permitted by applicable law, from the relevant payment date for such
Distributions, computed in the same manner as set forth for Distributions in subsection 4.1(a)(ii) immediately above. The term “Distributions” as used in Section 4.1 shall include any such additional Distributions provided pursuant to
this Section 4.1(a)(iii). 
 (iv) Distributions on the Trust Securities shall be made by the Property Trustee from the
Payment Account and shall be payable on each Distribution Date only to the extent that the Issuer Trust has funds then on hand and available in the Payment Account for the payment of such Distributions. 
 (b) Distributions on the Trust Securities with respect to a Distribution Date shall be payable to the Holders thereof as they appear on the Securities
Register for the Trust Securities at the close of business on the relevant record date, which shall be at the close of business on the fifteenth day prior to the relevant Distribution Date (whether or not a Business Day). 
 SECTION 4.2. Redemption. 
 (a) On each
Debenture Redemption Date and on the stated maturity of the Junior Subordinated Debentures, the Issuer Trust will be required to redeem a Like Amount of Trust Securities at the Redemption Price. 
 (b) Notice of redemption shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior
to the Redemption Date to each Holder of Trust Securities to be redeemed, at such Holder’s address appearing in the Securities Register. All notices of redemption shall state: 
 (i) the Redemption Date; 
 (ii) the Redemption Price, or if the Redemption Price cannot be calculated prior to the time the notice is required to be sent, the estimate of the Redemption Price provided pursuant to the Indenture together with a
statement that it is 

  

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an estimate and that the actual Redemption Price will be calculated on the third Business Day prior to the Redemption Date (and if an estimate is provided, a
further notice shall be sent of the actual Redemption Price on the date, or as soon as practicable thereafter, that notice of such actual Redemption Price is received pursuant to the Indenture); 
 (iii) the CUSIP number or CUSIP numbers of the Capital Securities affected; 
 (iv) if less than all the Outstanding Trust Securities are to be redeemed, the identification and the aggregate Liquidation Amount of the
particular Trust Securities to be redeemed; 
 (v) that on the Redemption Date the Redemption Price will become due and
payable upon each such Trust Security to be redeemed and that Distributions thereon will cease to accumulate on and after said date, except as provided in Section 4.2(d) below; and 
 (vi) the place or places where Trust Securities are to be surrendered for the payment of the Redemption Price. 
 The Issuer Trust in issuing the Trust Securities may use “CUSIP” or “private placement” numbers (if then generally in use), and, if
so, the Property Trustee shall indicate the “CUSIP” or “private placement” numbers of the Trust Securities in notices of redemption and related materials as a convenience to Holders; provided, that any such notice may
state that no representation is made as to the correctness of such numbers either as printed on the Trust Securities or as contained in any notice of redemption and related material. 
 (c) The Trust Securities redeemed on each Redemption Date shall be redeemed at the Redemption Price with the proceeds from the contemporaneous redemption
of Junior Subordinated Debentures. Redemptions of the Trust Securities shall be made and the Redemption Price shall be payable on each Redemption Date only to the extent that the Issuer Trust has funds then on hand and available in the Payment
Account for the payment of such Redemption Price. 
 (d) If the Issuer Trust gives a notice of redemption in respect of any Capital
Securities, then, by 12:00 noon, Eastern Time, on the Redemption Date, subject to Section 4.2(c), the Property Trustee will, with respect to Global Securities, irrevocably deposit with the Clearing Agency for such Global Capital
Securities, to the extent available therefor, funds sufficient to pay the applicable Redemption Price and will give such Clearing Agency irrevocable instructions and authority to pay the Redemption Price to the Holders of the Global Capital
Securities. With respect to Capital Securities that are not held in global form, if any, the Property Trustee, subject to Section 4.2(c), will irrevocably deposit with the Paying Agent, to the extent available therefor, funds sufficient to pay
the applicable Redemption Price and will give the Paying Agent irrevocable instructions and authority to pay the Redemption Price to the Holders of the Capital Securities upon surrender of their Capital Securities Certificates or Restricted
Securities Certificates, as applicable. Notwithstanding the foregoing, Distributions 

  

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payable on or prior to the Redemption Date for any Trust Securities called for redemption shall be payable to the Holders of such Trust Securities as they
appear on the Securities Register for the Trust Securities on the relevant record dates for the related Distribution Dates. If notice of redemption shall have been given and funds deposited as required, then, upon the date of such deposit, all
rights of Holders holding Trust Securities so called for redemption will cease, except the right of such Holders to receive the Redemption Price, but without interest, and such Trust Securities will cease to be Outstanding. In the event that any
date on which any applicable Redemption Price is payable is not a Business Day, then payment of the applicable Redemption Price payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other
payment in respect of any such delay), except that, if such Business Day falls in the next calendar year, such payment will be made on the immediately preceding Business Day, in each case, with the same force and effect as if made on such date. In
the event that payment of the Redemption Price in respect of any Trust Securities called for redemption is improperly withheld or refused and not paid either by the Issuer Trust or by the Depositor pursuant to the Guarantee, Distributions on such
Trust Securities will continue to accumulate, as set forth in Section 4.1, from the Redemption Date originally established by the Issuer Trust for such Trust Securities to the date such applicable Redemption Price is actually paid, in which
case the actual payment date will be the date fixed for redemption for purposes of calculating the applicable Redemption Price. 
 (e)
Subject to Section 4.3(a), if less than all the Outstanding Trust Securities are to be redeemed on a Redemption Date, then the aggregate Liquidation Amount of such Trust Securities to be redeemed shall be allocated pro rata to the Common
Securities and the Capital Securities based on the relative aggregate Liquidation Amounts of such classes. The particular Capital Securities to be redeemed shall be selected on a pro rata basis based on their respective Liquidation Amounts
not more than 60 days prior to the Redemption Date by the Property Trustee from the Outstanding Capital Securities not previously called for redemption, or if the Capital Securities are then held in the form of a Global Preferred Security in
accordance with the customary procedures for the Clearing Agency. The Property Trustee shall promptly notify the Securities Registrar in writing of the aggregate Liquidation Amount of Capital Securities to be redeemed and the particular Capital
Securities selected for redemption. For all purposes of this Trust Agreement, unless the context otherwise requires, all provisions relating to the redemption of Capital Securities shall relate, in the case of any Capital Securities redeemed, to the
portion of the aggregate Liquidation Amount of Capital Securities that has been or is to be redeemed. 
 SECTION 4.3. Subordination of
Common Securities. 
 (a) Payment of Distributions (including Additional Amounts, if applicable) on, the Redemption Price of, and the
Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, as set forth in Section 4.2(e), pro rata among the Common Securities and the Capital Securities based on the Liquidation Amount of such Trust
Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date any Event of Default resulting from a Debenture Event of Default in Sections 5.1(1) or 5.1(2) of the Indenture shall have occurred and be
continuing, no payment of any Distribution (including any Additional Amounts) on, Redemption Price of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other 

  

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acquisition of Common Securities, shall be made, unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional
Amounts) on all Outstanding Capital Securities for all Distribution periods terminating on or prior thereto, or, in the case of payment of the Redemption Price, the full amount of such Redemption Price on all Outstanding Capital Securities then
called for redemption, or in the case of payment of the Liquidation Distribution, the full amount of such Liquidation Distribution on all Outstanding Capital Securities, shall have been made or provided for, and all funds immediately available to
the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Amounts) on, or the Redemption Price of, or Liquidation Distribution in respect of, Capital Securities then due and payable.
The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof. 
 (b) In the
case of the occurrence of any Event of Default resulting from any Debenture Event of Default, the Holder of the Common Securities shall be deemed to have waived any right to act with respect to any such Event of Default under this Trust Agreement
until the effects of all such Events of Default with respect to the Capital Securities have been cured, waived or otherwise eliminated. Until all such Events of Default under this Trust Agreement with respect to the Capital Securities have been so
cured, waived or otherwise eliminated, the Property Trustee shall act solely on behalf of the Holders of the Capital Securities and not on behalf of the Holder of the Common Securities, and only the Holders of the Capital Securities will have the
right to direct the Property Trustee to act on their behalf. 
 SECTION 4.4. Payment Procedures. 
 Payments of Distributions (including any Additional Amounts) in respect of the Capital Securities shall be made by check mailed to the address of the
Person entitled thereto as such address shall appear on the Securities Register or, if the Capital Securities are held by a Clearing Agency, such Distributions shall be made to the Clearing Agency in immediately available funds, which will credit
the relevant accounts on the applicable Distribution Dates. Payments in respect of the Common Securities shall be made in such manner as shall be mutually agreed between the Property Trustee and the Holder of the Common Securities. 
 SECTION 4.5. Tax Returns and Reports. 
 The Administrators shall prepare (or cause to be prepared), at the Depositor’s expense, and file all United States federal, state and local tax and information returns and reports required to be filed by or in respect of the Issuer
Trust. In this regard, the Administrators shall (a) prepare and file (or cause to be prepared and filed) all Internal Revenue Service forms required to be filed in respect of the Issuer Trust in each taxable year of the Issuer Trust and
(b) prepare and furnish (or cause to be prepared and furnished) to each Holder all Internal Revenue Service forms required to be provided by the Issuer Trust. The Administrators shall provide the Depositor and the Property Trustee with a copy
of all such returns and reports promptly after such filing or furnishing. The Property Trustee shall comply with United States Federal withholding and backup withholding tax laws and information reporting requirements with respect to any payments to
Holders under the Trust Securities. 
  

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 On or before December 15 of each year during which any Capital Securities are Outstanding, the
Administrators shall furnish to the Paying Agent such information as may be reasonably requested by the Property Trustee in order that the Property Trustee may prepare the information which it is required to report for such year on Internal Revenue
Service Forms 1096 and 1099 pursuant to Section 6049 of the Code. Such information shall include the amount of original issue discount includable in income for each Outstanding Capital Security during such year, if any. 
 SECTION 4.6. Payment of Taxes, Duties, Etc. of the Issuer Trust. 
 Upon receipt under the Junior Subordinated Debentures of Additional Sums, the Property Trustee shall promptly pay any taxes, duties or governmental charges of whatsoever nature (other than withholding taxes) imposed
on the Issuer Trust by the United States or any other taxing authority out of the proceeds of the Additional Sums. 
 SECTION 4.7.
Payments under Indenture or Pursuant to Direct Actions. 
 Any amount payable hereunder to any Holder of Capital Securities (or Owner with
respect thereof) shall be reduced by the amount of any corresponding payment such Holder (or Owner) has directly received pursuant to Section 5.8 of the Indenture or Section 5.13 of this Trust Agreement. 
 SECTION 4.8. Payment of Costs and Expenses by the Holder of Common Securities. 
 The Holder of Common Securities shall be liable for the debts and obligations of the Issuer Trust (including, without limitation, the fees and expenses of
the trustees) as set forth in Section 6.7 of the Indenture regarding allocation of expenses. 
 ARTICLE V 
 TRUST SECURITIES CERTIFICATES 
 SECTION 5.1. Initial Ownership. 
 Upon the creation of the Issuer Trust and the contribution by the Depositor pursuant to
Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are Outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust. 
 SECTION 5.2. The Trust Securities Certificates. 
 (a) The Trust Securities Certificates shall be issued in fully registered form. The Trust Securities Certificates shall be executed on behalf of the Issuer Trust by manual or facsimile signature of at least one
Administrator. Trust Securities Certificates bearing the manual or facsimile signatures of individuals who were, at the time when such signatures shall 

  

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have been affixed, authorized to sign on behalf of the Issuer Trust, shall be validly issued and entitled to the benefits of this Trust Agreement,
notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the delivery of such Trust Securities Certificates or did not hold such offices at the date of delivery of such Trust Securities Certificates. A
transferee of a Trust Securities Certificate shall become a Holder, and shall be entitled to the rights and subject to the obligations of a Holder hereunder, upon due registration of such Trust Securities Certificate in such transferee’s name
pursuant to Section 5.5. 
 (b) Upon their original issuance, Capital Securities Certificates shall be issued in the form of one or more
Global Capital Securities Certificates which initially shall bear a Restricted Capital Securities Legend, registered in the name of Cede as the Depositary’s nominee and deposited with or on behalf of Depositary for credit by Depositary to the
respective accounts of the Owners thereof (or such other accounts as they may direct). Except as set forth herein, record ownership of the Global Capital Securities may be transferred, in whole or in part, only to another nominee of Depositary or to
a successor of the Depository or its nominee. 
 (c) A single Common Securities Certificate representing the Common Securities shall be
issued to the Depositor in the form of a definitive Common Securities Certificate. 
 SECTION 5.3. Execution and Delivery of Trust
Securities Certificates. 
 At the Closing, an Administrator shall execute, on behalf of the Trust, Trust Securities Certificates, in an
aggregate Liquidation Amount as provided in Sections 2.4 and 2.5, and deliver such Trust Securities Certificates to the Property Trustee for authentication. Upon such delivery, the Property Trustee shall authenticate such Trust Securities
Certificates and deliver such Trust Securities Certificates in authorized denominations upon the written order of the Trust, executed by an Administrator thereof, without further corporate action by the Depositor. 
 SECTION 5.4. Global Capital Securities. 
 (a) The Global Capital Securities Certificates issued under this Trust Agreement shall be registered in the name of Cede, as the nominee of the Clearing Agency and delivered to such custodian therefor, and such Global Capital Securities
Certificate shall constitute a single Capital Security for all purposes of this Trust Agreement, and it shall initially bear a Restricted Capital Securities Legend. 
 (b) Notwithstanding any other provision in this Trust Agreement, the Global Capital Security may not be exchanged in whole or in part for registered Capital Securities, and no transfer of the Global Capital Security
in whole or in part may be registered, in the name of any Person other than the Clearing Agency for such Global Capital Security, Cede, or other nominee thereof unless: (i) such Clearing Agency advises the Depositor and the Property Trustee in
writing that such Clearing Agency is no longer willing or able to properly discharge its responsibilities as the Clearing Agency with respect to such Global Capital Security, and the Depositor is unable to locate a qualified successor within 90
days, (ii) at any time the Depositary 

  

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ceases to be a Clearing Agency registered as such under the Exchange Act, or (iii) the Issuer Trust at its option advises the Depositary in writing that
it elects to terminate the book-entry system through the Clearing Agency. 
 (c) If the Global Capital Security is to be exchanged or
canceled in whole, it shall be surrendered by or on behalf of the Clearing Agency or its nominee to the Securities Registrar for exchange or cancellation as provided in this Article V. If the Global Capital Security is to be exchanged or canceled in
part, or if another Capital Security is to be exchanged in whole or in part for a beneficial interest in the Global Capital Security, then either: (i) the Global Capital Securities Certificate representing such Global Capital Security shall be
so surrendered for exchange or cancellation as provided in this Article V, or (ii) the Liquidation Amount thereof shall be reduced or increased by an amount equal to the portion thereof to be so exchanged or canceled or equal to the Liquidation
Amount of such other Capital Security to be so exchanged for a beneficial interest therein, as the case may be, by means of an appropriate adjustment made on the Securities Register, whereupon the Property Trustee, in accordance with the Applicable
Procedures, shall instruct the Clearing Agency or its authorized representative to make a corresponding adjustment to its records. Upon any such surrender or adjustment of the Global Capital Security by the Clearing Agency, accompanied by
registration instructions, the Property Trustee shall, subject to Section 5.4(b) and as otherwise provided in this Article V, authenticate and deliver any Capital Securities or Restricted Capital Securities, as applicable and as instructed by
the Administrators, issuable in exchange for such Global Capital Security (or any portion thereof) in accordance with the instructions of the Clearing Agency. The Property Trustee shall not be liable for any delay in delivery of such instructions
and may conclusively rely on, and shall be fully protected in relying on, such instructions. 
 (d) Every Capital Security or Restricted
Capital Security authenticated and delivered upon registration of, transfer of, or in exchange for or in lieu of, the Global Capital Security or any portion thereof, whether pursuant to this Article V or Article IV or otherwise, shall be
authenticated and delivered in the form of, and shall be, a Global Capital Security, unless such Global Capital Security is registered in the name of a Person other than the Clearing Agency for such Global Capital Security or a nominee thereof.

 (e) The Clearing Agency or its nominee, as the registered owner of the Global Capital Security, shall be considered the Holder of the
Capital Securities or the Restricted Capital Securities represented by the Global Capital Security for all purposes under this Trust Agreement and the Capital Securities, and owners of beneficial interests in the Global Capital Security shall hold
such interests pursuant to the Applicable Procedures and, except as otherwise provided herein, shall not be entitled to have any of the individual Capital Securities or the Restricted Capital Securities represented by the Global Capital Security
registered in their names, shall not receive nor be entitled to receive physical delivery of any such Capital Securities or the Restricted Capital Securities in definitive form and shall not be considered the Holders thereof under this Trust
Agreement. Accordingly, any such owner’s beneficial interest in the Global Capital Security shall be shown only on, and the transfer of such interest shall be effected only through, records maintained by the Clearing Agency or its nominee.
Neither the Property Trustee nor the Securities Registrar shall have any liability in respect of any transfers effected by the Clearing Agency. 
  

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 (f) The rights of owners of beneficial interests in the Global Capital Security shall be exercised only
through the Clearing Agency and shall be limited to those established by law and agreements between such owners and the Clearing Agency. 
 SECTION 5.5. Registration of Transfer and Exchange Generally; Certain Transfers and Exchanges; Capital Securities Certificates; Securities Act Legends. 
 (a) The Property Trustee shall keep or cause to be kept at its Corporate Trust Office a register or registers (the “Securities Register”) for the purpose of registering Capital Securities Certificates
and Common Securities Certificates and transfers and exchanges of Capital Securities Certificates and Common Securities Certificates and acting as the registrar and transfer agent with respect to the Capital Securities Certificates and Common
Securities Certificates (the “Securities Registrar”), subject to such reasonable regulations as it may prescribe, and shall provide for the registration of Capital Securities Certificates and Common Securities Certificates (subject
to Section 5.11 in the case of Common Securities Certificates) in the Securities Register. The Property Trustee is hereby appointed Securities Registrar. The Securities Registrar shall maintain stop transfer instructions in the Securities
Register and as it otherwise deems appropriate to restrict the transfer of Restricted Capital Securities consistent with the terms of this Agreement. 
 Upon surrender for registration of transfer of any Capital Securities Certificate at the offices or agencies of the Property Trustee designated for that purpose, the Administrators shall execute, and the Property
Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Capital Securities Certificates of the same series of any authorized denominations of like tenor and aggregate principal amount and
bearing such restrictive legends (including the Restricted Capital Securities Legend) as may be required by this Trust Agreement. 
 At the
option of the Holder, Capital Securities Certificates may be exchanged for other Capital Securities Certificates of any authorized denominations, of like tenor and aggregate Liquidation Amount and bearing such restrictive legends (including the
Restricted Capital Securities Legend) as may be required by this Trust Agreement, upon surrender of the Capital Securities Certificates to be exchanged at such office or agency of the Property Trustee. Whenever any securities are so surrendered for
exchange, the Administrators shall execute and the Property Trustee shall authenticate and deliver the Capital Securities Certificates that the Holder making the exchange is entitled to receive. 
 All Capital Securities issued upon any transfer or exchange of Capital Securities shall be the valid obligations of the Issuer Trust, evidencing the same
obligations, and entitled to the same benefits under this Trust Agreement, as the Capital Securities surrendered upon such transfer or exchange. 
 Every Capital Securities Certificate presented or surrendered for transfer or exchange shall (if so required by the Property Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the
Property Trustee and the Securities Registrar, duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing. 
  

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 No service charge shall be made to a Holder for any transfer or exchange of Capital Securities
Certificates, but the Property Trustee may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Capital Securities Certificates. 
 Neither the Issuer Trust nor the Property Trustee shall be required, pursuant to the provisions of this Section: (i) to issue, register the transfer
of, or exchange any Capital Securities Certificates during a period beginning 15 Business Days before the day of selection for redemption of Capital Securities pursuant to Article IV and ending at the close of business on the day of mailing of the
notice of redemption, or (ii) to register the transfer of or exchange any Capital Security so selected for redemption in whole or in part, except, in the case of any such Capital Security to be redeemed in part, any portion thereof not to be
redeemed. 
 (b) Certain Transfers and Exchanges. Notwithstanding any other provision of this Trust Agreement, transfers and exchanges
of Capital Securities and beneficial interests in a Global Capital Security shall be made only in accordance with this Section 5.5(b). 
 (i) Non-Global Restricted Capital Security to Global Capital Security. If the Holder of a Restricted Capital Security (other than the Global Capital Security) wishes at any time to transfer all or any portion
of such Restricted Capital Security to a Person who wishes to take delivery thereof in the form of a beneficial interest in the Global Capital Security, such transfer may be effected only in accordance with the provisions of this clause (b)(i) and
subject to the Applicable Procedures. Upon receipt by the Securities Registrar of (A) such Restricted Capital Security as provided in Section 5.5(a) and instructions satisfactory to the Securities Registrar directing that a beneficial
interest in the Global Capital Security in a specified Liquidation Amount not greater than the Liquidation Amount of such Restricted Capital Security to be credited to a specified Clearing Agency Participant’s account, and (B) a Restricted
Securities Certificate duly executed for transfer by such Holder or such Holder’s attorney duly authorized in writing, then the Securities Registrar shall cancel such Restricted Capital Security (and issue a new Restricted Capital Security in
respect of any untransferred portion thereof) as provided in Section 5.5(a) and increase the aggregate Liquidation Amount of the Global Capital Security by the specified Liquidation Amount as provided in Section 5.4(c). 
 (ii) Non-Global Capital Security to Non-Global Capital Security. A Capital Security that is not a Global Capital Security may be
transferred, in whole or in part, to a Person who takes delivery in the form of another Capital Security that is not a Global Capital Security as provided in Section 5.5(a), provided that if the Capital Security to be transferred in
whole or in part is a Restricted Capital Security, the Securities Registrar shall have received a Restricted Securities Certificate duly executed by the transferor Holder or such Holder’s attorney duly 

  

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authorized in writing and the Securities Registrar shall only be required to register the transfer of such Restricted Securities Certificate upon direction
from the Depositor that such transfer is permissible. 
 (iii) Exchanges Between Global Capital Security and Non-Global
Capital Security. A beneficial interest in the Global Capital Security may be exchanged for a Capital Security that is not a Global Capital Security only as provided in Section 5.4. 
 (iv) Certain Initial Transfers of Non-Global Capital Securities. In the case of Capital Securities initially issued other than in
global form, an initial transfer or exchange of such Capital Securities that does not involve any change in beneficial ownership may be made to an institutional accredited investor or investors as if such transfer or exchange were not an initial
transfer or exchange; provided that written certification shall be provided by the transferee and transferor of such Capital Securities to the Securities Registrar that such transfer or exchange does not involve a change in beneficial
ownership. 
 (v) Limitations Relating to Principal Amount. Notwithstanding any other provision of this Trust Agreement
and unless otherwise specified as permitted by this Trust Agreement, Capital Securities or portions thereof may be transferred or exchanged only in principal amounts of not less than $1,000.00. Any transfer, exchange or other disposition of Capital
Securities in contravention of this Section 5.5(b)(v) shall be deemed to be void and of no legal effect whatsoever, any such transferee shall be deemed not to be the Holder or Owner of any beneficial interest in such Capital Securities for any
purpose, including but not limited to the receipt of Distributions payable on such Capital Securities, such transferee shall be deemed to have no interest whatsoever in such Capital Securities, and the Securities Registrar shall not record any such
transfer in the Securities Register. 
 (c) Restricted Securities Legend. Except as set forth below, all Capital Securities shall bear
a Restricted Capital Securities Legend: 
 (i) subject to the following Clauses of this Section 5.5(c), a Capital
Security or any portion thereof that is exchanged, upon transfer or otherwise, for a Global Capital Security or any portion thereof shall bear the Restricted Capital Securities Legend while represented thereby; 
 (ii) subject to the following Clauses of this Section 5.5(c), a new Capital Security which is not a Global Capital Security and is
issued in exchange for another Capital Security (including a Global Capital Security) or any portion thereof, upon transfer or otherwise, shall, if such new Capital Security is required to be issued in the form of a Restricted Capital Security, bear
a Restricted Capital Securities Legend; 
  

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 (iii) a new Capital Security (other than a Global Capital Security) that does not bear a
Restricted Capital Securities Legend may be issued in exchange for or in lieu of a Restricted Capital Security or any portion thereof that bears such a legend if, in the Depositor’s judgment, placing such a legend upon such new Capital Security
is not necessary to ensure compliance with the requirements of the Securities Act and is permissible under Commission Rule 144(k), and the Property Trustee, at the written direction of the Administrator of the Issuer Trust in the form of an
Officers’ Certificate, shall authenticate and deliver such new Capital Security as provided in this Article V; 
 (iv)
notwithstanding the foregoing provisions of this Section 5.5(c), a Successor Capital Security of a Capital Security that does not bear a Restricted Capital Securities Legend shall not bear such form of legend, unless the Depositor has
reasonable cause to believe that such Successor Capital Security is a “restricted security” within the meaning of Rule 144 under the Securities Act, in which case the Property Trustee, at the written direction of any Administrator of the
Issuer Trust in the form of an Officers’ Certificate, shall authenticate and deliver a new Capital Security bearing a Restricted Capital Securities Legend in exchange for such Successor Capital Security as provided in this Article V; and

 (v) Junior Subordinated Debentures distributed to a Holder of Capital Securities upon dissolution of the Issuer Trust shall
bear a Restricted Capital Securities Legend, if the Capital Securities bear a similar legend, absent instructions from the Depositor that such legend can be removed consistent with the requirements of the Securities Act, and Commission Rule 144
thereunder. 
  

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 SECTION 5.6. Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates. 
 If (a) any mutilated Trust Securities Certificate shall be surrendered to the Securities Registrar, or if the Securities Registrar shall receive
evidence to its satisfaction of the destruction, loss or theft of any Trust Securities Certificate and (b) there shall be delivered to the Securities Registrar and the Administrators such security, indemnity and/or other assurance as may be
required by them, in their discretion, to save each of them harmless, then in the absence of notice that such Trust Securities Certificate shall have been acquired by a bona fide purchaser, the Administrators, or any one of them, on behalf of
the Issuer Trust shall execute and make available for delivery, and the Property Trustee shall authenticate, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Trust Securities Certificate, a new Trust Securities Certificate
of like class, tenor and denomination. In connection with the issuance of any new Trust Securities Certificate under this Section, the Administrators or the Securities Registrar may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection therewith. Any duplicate Trust Securities Certificate issued pursuant to this Section 5.6 shall constitute conclusive evidence of an undivided beneficial interest in the assets of the Issuer
Trust corresponding to that evidenced by the lost, stolen or destroyed Trust Securities Certificate, as if originally issued, whether or not the lost, stolen or destroyed Trust Securities Certificate shall be found at any time. 
 SECTION 5.7. Persons Deemed Holders. 
 The Property Trustee and the Securities Registrar shall treat each Person in whose name any Trust Securities Certificate shall be registered in the Securities Register are issued as the sole owner of such Trust Securities for the purpose of
receiving Distributions and for all other purposes whatsoever, and none of the Property Trustee, the Administrators or the Securities Registrar shall be bound by any notice to the contrary. 
 SECTION 5.8. Access to List of Holders’ Names and Addresses. 
 Each Holder and each Owner shall be deemed to have agreed not to hold the Depositor, the Property Trustee, or the Administrators accountable by reason of the disclosure of its name and address, regardless of the
source from which such information was derived. 
 SECTION 5.9. Maintenance of Office or Agency. 
 The Property Trustee shall designate, with the consent of the Administrators, which consent shall not be unreasonably withheld, an office or offices or
agency or agencies where Capital Securities Certificates may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Property Trustee in respect of the Trust Securities Certificates may be served. The
Property Trustee initially designates its Corporate Trust Office as its corporate trust office for such purposes. The Property Trustee shall give prompt written notice to the Depositor, the Administrators and to the Holders of any change in the
location of the Securities Register or any such office or agency. 
  

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 SECTION 5.10. Appointment of Paying Agent. 
 The Paying Agent shall make Distributions to Holders from the Payment Account and shall report the amounts of such Distributions to the Property Trustee,
the Administrators and the Depositor. Any Paying Agent shall have the revocable power to withdraw funds from the Payment Account solely for the purpose of making the Distributions referred to above. The Property Trustee may revoke such power and
remove any Paying Agent in its sole discretion. The Paying Agent shall initially be the Property Trustee. Any Person acting as Paying Agent shall be permitted to resign as Paying Agent upon 30 days’ written notice to the Administrators and
the Property Trustee. In the event that the Property Trustee shall no longer be the Paying Agent or a successor Paying Agent shall resign or its authority to act be revoked, the Property Trustee shall appoint a successor (which shall be a bank or
trust company) that is reasonably acceptable to the Administrators to act as Paying Agent. Such successor Paying Agent or any additional Paying Agent appointed by the Administrators shall execute and deliver to the Property Trustee an instrument in
which such successor Paying Agent or additional Paying Agent shall agree with the Property Trustee that as Paying Agent, such successor Paying Agent or additional Paying Agent will hold all sums, if any, held by it for payment to the Holders in
trust for the benefit of the Holders entitled thereto until such sums shall be paid to such Holders. The Paying Agent shall return all unclaimed funds to the Property Trustee and upon removal of a Paying Agent such Paying Agent shall also return all
funds in its possession to the Property Trustee. The provisions of Sections 8.1, 8.3 and 8.6 herein shall apply to the Bank also in its role as Paying Agent, for so long as the Bank shall act as Paying Agent and, to the extent applicable, to any
other paying agent appointed hereunder. Any reference in this Trust Agreement to the Paying Agent shall include any co-paying agent chosen by the Property Trustee, unless the context requires otherwise. 
 SECTION 5.11. Ownership of Common Securities by Depositor. 
 At Closing, the Depositor shall acquire and retain beneficial and record ownership of the Common Securities. Neither the Depositor nor any successor Holder of the Common Securities may transfer less than all the
Common Securities, and the Depositor or any such successor Holder may transfer the Common Securities only (i) in connection with a consolidation or merger of the Depositor into another Person or any conveyance, transfer or lease by the
Depositor of its properties and assets substantially as an entirety to any Person, pursuant to Section 8.1 of the Indenture, or (ii) to an Affiliate of the Depositor in compliance with applicable law (including the Securities Act and
applicable state securities and blue sky laws); provided that, any such transfer pursuant to clause (ii) shall be subject to the condition that the transferor shall have obtained (A) either a ruling from the Internal Revenue Service
or an unqualified written Opinion of Counsel by a firm experienced in such matters addressed to the Issuer Trust and delivered to the Property Trustee to the effect that such transfer will not (1) cause the Issuer Trust to be treated as issuing
a class of interests in the Issuer Trust differing from the class of interests represented by the Common Securities originally issued to the Depositor, (2) result in the Issuer Trust acquiring or disposing of, or being deemed to have acquired
or disposed of, an asset, or (3) result in or cause the Issuer Trust to be treated as anything other than a grantor trust for United States Federal income tax purposes and (B) an unqualified written Opinion of Counsel by a firm experienced
in such matters addressed to the 

  

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Issuer Trust and delivered to the Property Trustee to the effect that such transfer will not cause the Issuer Trust to be an “investment company”
or controlled by an “investment company” that is required to be registered under the Investment Company Act. To the fullest extent permitted by law, any attempted transfer of the Common Securities, other than as set forth in the
immediately preceding sentence, shall be void. The Administrators shall cause each Common Securities Certificate issued to the Depositor to contain a legend stating “THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT IN COMPLIANCE WITH APPLICABLE LAW
AND SECTION 5.11 OF THE TRUST AGREEMENT.” 
 SECTION 5.12. Notices to Clearing Agency. 
 To the extent that a notice or other communication to the Holders is required under this Trust Agreement, with respect to Capital Securities represented
by Global Capital Securities Certificates, the Administrators and the Property Trustee shall give all such notices and communications specified herein to be given to the Clearing Agency, and shall have no obligations to give such notice or other
communication to the Owners. 
 SECTION 5.13. Rights of Holders. 
 (a) The legal title to the Trust Property is vested exclusively in the Property Trustee (in its capacity as such) in accordance with Section 2.10,
and the Holders shall not have any right or title therein other than the undivided beneficial ownership interest in the assets of the Issuer Trust conferred by their Trust Securities and they shall have no right to call for any partition or division
of property, profits or rights of the Issuer Trust, except as described below. The Trust Securities shall be personal property giving only the rights specifically set forth therein and in this Trust Agreement. The Trust Securities shall have no
preemptive or similar rights, and when issued and delivered to Holders against payment of the purchase price therefor, as provided herein, will be fully paid and nonassessable by the Issuer Trust. The Holders of the Trust Securities, in their
capacities as such, shall be entitled to the same limitation of personal liability extended to stockholders of private corporations for profit organized under the Connecticut Business Corporation Act. 
 (b) For so long as any Capital Securities remain Outstanding, if, upon a Debenture Event of Default, the Indenture Trustee fails or the holders of not
less than 25% in principal amount of the outstanding Junior Subordinated Debentures fail to declare the principal of all of the Junior Subordinated Debentures to be immediately due and payable, the Holders of at least 25% in Liquidation Amount of
the Capital Securities then Outstanding shall have such right to make such declaration by a notice in writing to the Property Trustee, the Depositor and the Indenture Trustee. 
 At any time after such a declaration of acceleration with respect to the Junior Subordinated Debentures has been made and before a judgment or decree for
payment of the money due has been obtained by the Indenture Trustee as provided in the Indenture, the Holders of a Majority in Liquidation Amount of the Capital Securities, by written notice to the Property Trustee, the Depositor and the Indenture
Trustee, may rescind and annul such declaration and its consequences if: 
 (i) the Depositor has paid or deposited with the
Indenture Trustee a sum sufficient to pay 
  

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 (A) all overdue installments of interest on all of the Junior Subordinated Debentures,

 (B) any accrued Additional Interest on all of the Junior Subordinated Debentures, 
 (C) the principal of (and premium, if any, on) any Junior Subordinated Debentures which have become due otherwise than by such
declaration of acceleration and interest and any Additional Interest thereon at the rate borne by the Junior Subordinated Debentures, and 
 (D) all sums paid or advanced by the Indenture Trustee under the Indenture and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and the Property Trustee, their agents and
counsel; and 
 (ii) all Events of Default with respect to the Junior Subordinated Debentures, other than the non-payment of
the principal of the Junior Subordinated Debentures that has become due solely by such acceleration, have been cured or waived as provided in Section 5.13 of the Indenture. 
 If the Property Trustee fails to annul any such declaration and waive such default, the Holders of at least a Majority in Liquidation Amount of the
Capital Securities shall also have the right to rescind and annul such declaration and its consequences by written notice to the Depositor, the Property Trustee and the Indenture Trustee, subject to the satisfaction of the conditions set forth in
clauses (i) and (ii) of this Section 5.13(b). 
 The Holders of at least a Majority in Liquidation Amount of the Capital
Securities may, on behalf of the Holders of all the Capital Securities, waive any past default under the Indenture, except a default in the payment of principal or interest (unless such default has been cured and a sum sufficient to pay all matured
installments of interest and principal due otherwise than by acceleration has been deposited with the Indenture Trustee) or a default in respect of a covenant or provision which under the Indenture cannot be modified or amended without the consent
of the holder of each outstanding Junior Subordinated Debenture. No such rescission shall affect any subsequent default or impair any right consequent thereon. 
 Upon receipt by the Property Trustee of written notice declaring such an acceleration, or rescission and annulment thereof, by Holders of the Capital Securities, all or part of which is represented by the Global
Capital Securities Certificate, a record date shall be established for determining Holders of Outstanding Capital Securities entitled to join in such notice, which record date shall be at the close of business on the day the Property Trustee
receives such notice. The Holders on such record date, or their duly designated proxies, and only 

  

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such Persons, shall be entitled to join in such notice, whether or not such Holders remain Holders after such record date; provided that, unless such
declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having joined in such notice prior to the day which is 90 days after such record date, such notice
of declaration of acceleration, or rescission and annulment, as the case may be, shall automatically and without further action by any Holder be canceled and of no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a
Holder, from giving, after expiration of such 90-day period, a new written notice of declaration of acceleration, or rescission and annulment thereof, as the case may be, that is identical to a written notice which has been canceled pursuant to the
proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 5.13(b). 
 (c) For so long as any Capital Securities remain Outstanding, to the fullest extent permitted by law and subject to the terms of this Trust Agreement and the Indenture, upon a Debenture Event of Default specified in Section 5.1(1) or
5.1(2) of the Indenture, any Holder of Capital Securities shall have the right to institute a proceeding directly against the Depositor, pursuant to Section 5.8 of the Indenture, for enforcement of payment to such Holder of the principal amount
of or interest on Junior Subordinated Debentures having an aggregate principal amount equal to the aggregate Liquidation Amount of the Capital Securities of such Holder (a “Direct Action”). Except as set forth in Sections 5.13(b)
and 5.13(c), the Holders of Capital Securities shall have no right to exercise directly any right or remedy available to the holders of, or in respect of, the Junior Subordinated Debentures. 
 ARTICLE VI 
 ACTS OF HOLDERS; MEETINGS; VOTING 
 SECTION 6.1. Limitations on Holders’ Voting Rights. 
 (a) Except as provided in this Trust Agreement and in the Indenture and as otherwise required by law, no Holder of Capital Securities shall have any right to vote or in any manner otherwise control the administration,
operation and management of the Issuer Trust or the obligations of the parties hereto, nor shall anything herein set forth or contained in the terms of the Trust Securities Certificates be construed so as to constitute the Holders from time to time
as members of an association. 
 (b) So long as any Junior Subordinated Debentures are held by the Property Trustee on behalf of the Issuer
Trust, the Property Trustee shall not (i) direct the time, method and place of conducting any proceeding for any remedy available to the Indenture Trustee, or execute any trust or power conferred on the Property Trustee with respect to such
Junior Subordinated Debentures, (ii) waive any past default that may be waived under Section 5.13 of the Indenture, (iii) exercise any right to rescind or annul a declaration that the principal of all the Junior Subordinated
Debentures shall be due and payable or (iv) consent to any amendment, modification or termination of the Indenture or the Junior Subordinated Debentures, where such consent shall be required, without, in each case, obtaining the prior approval
of the Holders of at least a Majority in Liquidation Amount of the Capital Securities, provided, however, that where a 

  

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consent under the Indenture would require the consent of each holder of Junior Subordinated Debentures affected thereby, no such consent shall be given by
the Property Trustee without the prior written consent of each Holder of Capital Securities. The Property Trustee shall not revoke any action previously authorized or approved by a vote of the Holders of Capital Securities, except by a subsequent
vote of the Holders of Capital Securities. The Property Trustee shall notify all Holders of the Capital Securities of any notice of default received with respect to the Junior Subordinated Debentures. In addition to obtaining the foregoing approvals
of the Holders of the Capital Securities, prior to taking any of the foregoing actions, the Property Trustee shall, at the expense of the Depositor, obtain an Opinion of Counsel experienced in such matters to the effect that such action will not
cause the Issuer Trust to be taxable other than as a grantor trust for United States Federal income tax purposes. 
 (c) If any proposed
amendment to the Trust Agreement provides for, or the Issuer Trust otherwise proposes to effect, (i) any action that would adversely affect in any material respect the interests, powers, preferences or special rights of the Capital Securities,
whether by way of amendment to the Trust Agreement or otherwise, or (ii) the dissolution, winding-up or termination of the Issuer Trust, other than pursuant to the terms of this Trust Agreement, then the Holders of Outstanding Trust Securities
as a class will be entitled to vote on such amendment or proposal and such amendment or proposal shall not be effective except with the approval of the Holders of at least a Majority in Liquidation Amount of the Capital Securities. Notwithstanding
any other provision of this Trust Agreement, no amendment to this Trust Agreement may be made if, as a result of such amendment, it would cause the Issuer Trust to be taxable other than as a grantor trust for United States Federal income tax
purposes. 
 SECTION 6.2. Notice of Meetings. 
 Notice of all meetings of the Holders, stating the time, place and purpose of the meeting, shall be given by the Property Trustee pursuant to Section 10.8 to each Holder of record, at his registered address, at
least 15 days and not more than 90 days before the meeting. At any such meeting, any business properly before the meeting may be so considered whether or not stated in the notice of the meeting. Any adjourned meeting may be held as
adjourned without further notice. 
 SECTION 6.3. Meetings of Holders. 
 No annual meeting of Holders is required to be held. The Property Trustee, however, shall call a meeting of Holders to vote on any matter upon the written
request of the Holders of record of 25% of the aggregate Liquidation Amount of the Capital Securities and the Administrators or the Property Trustee may, at any time in their discretion, call a meeting of Holders of Capital Securities to vote on any
matters as to which Holders are entitled to vote. 
 Holders of at least a Majority in Liquidation Amount of the Capital Securities, present
in person or represented by proxy, shall constitute a quorum at any meeting of Holders of the Capital Securities. 
  

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 If a quorum is present at a meeting, an affirmative vote by the Holders of record present, in person or
by proxy, holding Capital Securities representing at least a Majority in Liquidation Amount of the Capital Securities held by the Holders present, either in person or by proxy, at such meeting shall constitute the action of the Holders of Capital
Securities, unless this Trust Agreement requires a greater number of affirmative votes. 
 SECTION 6.4. Voting Rights. 
 Holders shall be entitled to one vote for each $1,000.00 of Liquidation Amount represented by their Outstanding Trust Securities in respect of any matter
as to which such Holders are entitled to vote. 
 SECTION 6.5. Proxies, etc. 
 At any meeting of Holders, any Holder entitled to vote at such meeting may vote by proxy, provided that no proxy shall be voted at any meeting unless it
shall have been placed on file with the Property Trustee, or with such other officer or agent of the Issuer Trust as the Property Trustee may direct, for verification prior to the time at which such vote shall be taken. Pursuant to a resolution of
the Property Trustee, proxies may be solicited in the name of the Property Trustee or one or more officers of the Property Trustee. Only Holders of record shall be entitled to vote. When Trust Securities are held jointly by several persons, any one
of them may vote at any meeting in person or by proxy in respect of such Trust Securities, but if more than one of them shall be present at such meeting in person or by proxy, and such joint owners or their proxies so present disagree as to any vote
to be cast, such vote shall not be received in respect of such Trust Securities. A proxy purporting to be executed by or on behalf of a Holder shall be deemed valid unless challenged at or prior to its exercise, and the burden of proving invalidity
shall rest on the challenger. No proxy shall be valid more than three years after its date of execution. 
 SECTION 6.6. Holder Action by
Written Consent. 
 Any action that may be taken by Holders at a meeting may be taken without a meeting and without prior notice if
Holders holding at least a Majority in Liquidation Amount of all Trust Securities entitled to vote in respect of such action (or such larger proportion thereof as shall be required by any other provision of this Trust Agreement) shall consent to the
action in writing. 
  

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 SECTION 6.7. Record Date for Voting and Other Purposes. 
 For the purposes of determining the Holders who are entitled to notice of and to vote at any meeting or by written consent, or to participate in any
distribution on the Trust Securities in respect of which a record date is not otherwise provided for in this Trust Agreement, or for the purpose of any other action, the Administrators or Property Trustee may from time to time fix a date, not more
than 90 days prior to the date of any meeting of Holders or the payment of a Distribution or other action, as the case may be, as a record date for the determination of the identity of the Holders of record for such purposes. 
 SECTION 6.8. Acts of Holders. 
 Any
request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Trust Agreement to be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as otherwise expressly provided herein, such action shall become effective when such instrument or instruments are delivered to the Property
Trustee. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as an “Act” of the Holders signing such instrument or instruments. Proof of execution of any such
instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Trust Agreement and (subject to Section 8.1) conclusive in favor of the Property Trustee, if made in the manner provided in this Section.

 The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of
the Person executing the same, may also be proved in any other manner which the Property Trustee or Administrator receiving the same deems sufficient. 
 The ownership of Trust Securities shall be proved by the Securities Register. 
 Any request, demand,
authorization, direction, notice, consent, waiver or other Act of the Holder of any Trust Security shall bind every future Holder of the same Trust Security and the Holder of every Trust Security issued upon the registration of transfer thereof or
in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Property Trustee, the Administrators or the Issuer Trust in reliance thereon, whether or not notation of such action is made upon such Trust
Security. 
 Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Trust
Security may do so with regard to all or any part of the Liquidation Amount of such Trust Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any part of such Liquidation
Amount. 
  

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 If any dispute shall arise among the Holders, the Administrators or the Property Trustee with respect to
the authenticity, validity or binding nature of any request, demand, authorization, direction, consent, waiver or other Act of such Holder or Property Trustee under this Article VI, then the determination of such matter by the Property Trustee
shall be conclusive with respect to such matter. 
 SECTION 6.9. Inspection of Records. 
 Upon reasonable notice to the Administrators and the Property Trustee, the records of the Issuer Trust shall be open to inspection by Holders during
normal business hours for any purpose reasonably related to such Holder’s interest as a Holder. 
 ARTICLE VII 
 REPRESENTATIONS AND WARRANTIES 
 SECTION 7.1. Representations and Warranties of the Property Trustee. 
 The Property Trustee, on behalf of and as to
itself, hereby represents and warrants for the benefit of the Depositor and the Holders that: 
 (a) The Property Trustee is a national
banking association with trust powers, duly organized, validly existing and in good standing under the laws of the United States of America with the trust powers and authority to execute and deliver, and to carry out and perform its obligations
under the terms of this Trust Agreement. 
 (b) The execution, delivery and performance by the Property Trustee of this Trust Agreement have
been duly authorized by all necessary corporate action on the part of the Property Trustee; and this Trust Agreement has been duly executed and delivered by the Property Trustee, and constitutes a legal, valid and binding obligation of the Property
Trustee, enforceable against it in accordance with its terms, subject to applicable bankruptcy, reorganization, receivership, conservatorship, moratorium, insolvency, and other similar laws affecting creditors’ rights generally and to general
principles of equity and the discretion of the court (regardless of whether the enforcement of such remedies is considered in a proceeding in equity or at law). 
 (c) The execution, delivery and performance of this Trust Agreement by the Property Trustee: (i) do not conflict with or constitute a breach of the certificate of incorporation or by-laws of the Property Trustee;
(ii) will not violate any provision of, or constitute, with or without notice or lapse of time, a default under, or result in the creation or imposition of, any Lien on any of the Trust Property pursuant to the provisions of, any indenture,
mortgage, credit agreement, license or other agreement or instrument to which the Property Trustee is a party or by which it is bound, or (iii) violate any law, governmental rule or regulation of the United States or the State of Connecticut,
as the case may be, governing the banking and trust powers of the Property Trustee or any order, judgment or decree applicable to the Property Trustee. 
  

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 (d) No consent, approval or authorization of, or registration with or notice to, any state or federal
banking authority is required for the execution, delivery or performance by the Property Trustee, of this Trust Agreement. 
 SECTION 7.2.
Representations and Warranties of Depositor. 
 The Depositor hereby represents and warrants for the benefit of the Holders that:

 (a) The Trust Securities Certificates issued at Closing on behalf of the Issuer Trust have been duly authorized and will have been duly and
validly executed, and, subject to payment therefor, issued and delivered by the Property Trustee pursuant to the terms and provisions of, and in accordance with the requirements of, this Trust Agreement, and the Holders will be, as of each such
date, entitled to the benefits of this Trust Agreement; and 
 (b) There are no taxes, fees or other governmental charges payable by the
Issuer Trust (or the Property Trustee on behalf of the Issuer Trust) under the laws of the State of Connecticut or any political subdivision thereof in connection with the execution, delivery and performance by the Property Trustee of this Trust
Agreement. 
 ARTICLE VIII 
 THE PROPERTY TRUSTEE; THE ADMINISTRATORS 
 SECTION 8.1. Certain Duties and Responsibilities. 
 (a) The duties and responsibilities of the Property Trustee and the Administrators shall be as provided by this Trust Agreement and, in the case of the
Property Trustee, by the Trust Indenture Act. Notwithstanding the foregoing, no provision of this Trust Agreement shall require the Property Trustee or the Administrators to expend or risk their own funds or otherwise incur any financial liability
in the performance of any of their duties hereunder, or in the exercise of any of their rights or powers, if they shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not
reasonably assured to it. Whether or not herein expressly so provided, every provision of this Trust Agreement relating to the conduct or affecting the liability of or affording protection to the Property Trustee or the Administrators shall be
subject to the provisions of this Section. Nothing in this Trust Agreement shall be construed to release an Administrator or the Property Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful
misconduct. To the extent that, at law or in equity, the Property Trustee or Administrator has duties and liabilities relating to the Issuer Trust or to the Holders, such Property Trustee or Administrator shall not be liable to the Issuer Trust or
to any Holder for such Property Trustee’s or Administrator’s good faith reliance on the provisions of this Trust Agreement. The provisions of this Trust Agreement, to the extent that they restrict the duties and liabilities of the Property
Trustee and Administrators otherwise existing at law or in equity, are agreed by the Depositor and the Holders to replace such other duties and liabilities of the Property Trustee and Administrators. 
  

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 (b) All payments made by the Property Trustee or a Paying Agent in respect of the Trust Securities shall
be made only from the revenue and proceeds from the Trust Property and only to the extent that there shall be sufficient revenue or proceeds from the Trust Property to enable the Property Trustee or a Paying Agent to make payments in accordance with
the terms hereof. Each Holder, by its acceptance of a Trust Security, agrees that it will look solely to the revenue and proceeds from the Trust Property to the extent legally available for distribution to it as herein provided and that neither the
Property Trustee nor the Administrators are personally liable to it for any amount distributable in respect of any Trust Security or for any other liability in respect of any Trust Security. This Section 8.1(b) does not limit the liability of
the Property Trustee expressly set forth elsewhere in this Trust Agreement or, in the case of the Property Trustee, in the Trust Indenture Act. 
 (c) The Property Trustee, before the occurrence of any Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform only such duties as are specifically set forth in this Trust Agreement
(including pursuant to Section 10.10), and no implied covenants shall be read into this Trust Agreement against the Property Trustee. If an Event of Default has occurred (that has not been cured or waived pursuant to Section 5.13 of the
Indenture), the Property Trustee shall enforce this Trust Agreement for the benefit of the Holders and shall exercise such of the rights and powers vested in it by this Trust Agreement, and use the same degree of care and skill in its exercise
thereof, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (d) No provision of
this Trust Agreement shall be construed to relieve the Property Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (i) prior to the occurrence of any Event of Default and after the curing or waiving of all such Events of Default that may have occurred:

 (A) the duties and obligations of the Property Trustee shall be determined solely by the express provisions of this Trust
Agreement (including pursuant to Section 10.10), and the Property Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Trust Agreement (including pursuant to
Section 10.10); and 
 (B) in the absence of bad faith on the part of the Property Trustee, the Property Trustee may
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Property Trustee and conforming to the requirements of this Trust Agreement; but in the
case of any such certificates or opinions that by any provision hereof or of the Trust Indenture Act are specifically required to be furnished to the Property Trustee, the Property Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Trust Agreement; 
  

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 (ii) the Property Trustee shall not be liable for any error of judgment made in good
faith by an authorized officer of the Property Trustee, unless it shall be proved that the Property Trustee was negligent in ascertaining the pertinent facts; 
 (iii) the Property Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with the direction of the Holders of at least a Majority in Liquidation Amount of the Capital Securities relating to the time, method and place of conducting any proceeding for any remedy available to the Property Trustee, or exercising any trust or
power conferred upon the Property Trustee under this Trust Agreement; 
 (iv) the Property Trustee’s sole duty with
respect to the custody, safe keeping and physical preservation of the Junior Subordinated Debentures and the Payment Account shall be to deal with such property in a similar manner as the Property Trustee deals with similar property for its own
account, subject to the protections and limitations on liability afforded to the Property Trustee under this Trust Agreement and the Trust Indenture Act; 
 (v) the Property Trustee shall not be liable for any interest on any money received by it except as it may otherwise agree with the Depositor; and money held by the Property Trustee need not be segregated from other
funds held by it except in relation to the Payment Account maintained by the Property Trustee pursuant to Section 3.1 and except to the extent otherwise required by law; 
 (vi) the Property Trustee shall not be responsible for monitoring the compliance by the Administrators or the Depositor with their
respective duties under this Trust Agreement, nor shall the Property Trustee be liable for the default or misconduct of the Administrators or the Depositor; and 
 (vii) no provision of this Trust Agreement shall require the Property Trustee to expend or risk its own funds or otherwise incur personal
financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if the Property Trustee shall have reasonable grounds for believing that the repayment of such funds or liability is not reasonably
assured to it under the terms of this Trust Agreement or adequate indemnity against such risk or liability is not reasonably assured to it. 
 (e) The Administrators shall not be responsible for monitoring the compliance by the Property Trustee or the Depositor with their respective duties under this Trust Agreement, nor shall any Administrator be liable for the default or
misconduct of any other Administrator, the Property Trustee or the Depositor. 
  

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 SECTION 8.2. Certain Notices. 
 (a) Within 15 Business Days after the occurrence of any Event of Default actually known to the Property Trustee or a Responsible Officer of the Property
Trustee, the Property Trustee shall transmit, in the manner and to the extent provided in Section 10.8, notice of such Event of Default to the Holders and the Administrators, unless such Event of Default shall have been cured or waived.

 (b) Within five Business Days after the receipt of notice of the Depositor’s exercise of its right to defer the payment of interest
on the Junior Subordinated Debentures pursuant to the Indenture, the Property Trustee shall transmit, in the manner and to the extent provided in Section 10.8, notice of such exercise to the Holders and the Administrators, unless such exercise
shall have been revoked. 
 SECTION 8.3. Certain Rights of Property Trustee. 
 Subject to the provisions of Section 8.1: 
 (a) the Property Trustee may conclusively rely and shall be fully protected in acting or refraining from acting in good faith upon any resolution, Opinion of Counsel, certificate, written representation of a Holder or transferee,
certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, appraisal, bond, debenture, note, other evidence of indebtedness or other paper or document reasonably believed by it to be
genuine and to have been signed or presented by the proper party or parties; 
 (b) any direction or act of the Depositor contemplated by
this Trust Agreement shall be sufficiently evidenced by an Officers’ Certificate; 
 (c) the Property Trustee shall have no duty to see
to any recording, filing or registration of any instrument (including any financing or continuation statement or any filing under tax or securities laws) or any re-recording, refiling or re-registration thereof; 
 (d) the Property Trustee may consult with counsel of its own choosing (which counsel may be counsel to the Depositor or any of its Affiliates, and may
include any of its employees) and the written advice of such counsel shall be protection and the Property Trustee shall incur no personal liability in respect of any action taken suffered or omitted by it hereunder in good faith and in reliance
thereon and in accordance with such advice; the Property Trustee shall have the right at any time to seek instructions concerning the administration of this Trust Agreement from any court of competent jurisdiction; 
 (e) the Property Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Trust Agreement at the request or
direction of any of the Holders pursuant to this Trust Agreement, unless such Holders shall have offered to the Property Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction; provided that nothing contained in this Section 8.3(e) shall be taken to relieve the Property Trustee, upon the occurrence of an Event of Default, of its obligation to exercise the rights and
powers vested in it by this Trust Agreement; 
  

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 (f) the Property Trustee shall not be bound to make any investigation into the facts or matters stated in
any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other evidence of indebtedness or other paper or document, unless requested in writing to do so by one or more
Holders, but the Property Trustee may make such further inquiry or investigation into such facts or matters as it may see fit; 
 (g) the
Property Trustee may execute any of the trusts or powers hereunder or perform any of its duties hereunder either directly or by or through its agents or attorneys, provided that the Property Trustee shall not be responsible for any misconduct or
negligence on the part of any agent or attorney appointed with due care by it hereunder; 
 (h) whenever in the administration of this Trust
Agreement the Property Trustee shall deem it desirable to receive instructions with respect to enforcing any remedy or right or taking any other action hereunder, the Property Trustee (i) may request instructions from the Holders (which
instructions may only be given by the Holders of the same proportion in Liquidation Amount of the Trust Securities as would be entitled to direct the Property Trustee under the terms of the Trust Securities in respect of such remedy, right or
action), (ii) may refrain from enforcing such remedy or right or taking such other action until such instructions are received, and (iii) shall be fully protected in acting in accordance with such instructions; and 
 (i) except as otherwise expressly provided by this Trust Agreement, the Property Trustee shall not be under any obligation to take any action that is
discretionary under the provisions of this Trust Agreement. 
 No provision of this Trust Agreement shall be deemed to impose any duty or
obligation on the Property Trustee or Administrator to perform any act or acts or exercise any right, power, duty or obligation conferred or imposed on it, in any jurisdiction in which it shall be illegal, or in which the Property Trustee shall be
unqualified or incompetent in accordance with applicable law, to perform any such act or acts, or to exercise any such right, power, duty or obligation. No permissive power or authority available to the Property Trustee or Administrator shall be
construed to be a duty. 
 SECTION 8.4. Not Responsible for Recitals or Issuance of Securities. 
 The recitals contained herein and in the Trust Securities Certificates shall be taken as the statements of the Issuer Trust, and neither the Property
Trustee nor the Administrators assume any responsibility for their correctness. The Property Trustee and the Administrators shall not be accountable for the use or application by the Depositor of the proceeds of the Junior Subordinated Debentures.

 SECTION 8.5. May Hold Securities. 
 The Depositor, the Administrators, the Property Trustee or any other agent of the Property Trustee or the Issuer Trust, in its individual or any other capacity, may become the 

  

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owner or pledgee of Trust Securities and, subject to Sections 5.5(c), 8.8 and 8.13 and except as provided in the definition of the term
“Outstanding” in Article I, may otherwise deal with the Issuer Trust with the same rights it would have if it were not the Depositor, an Administrator, Property Trustee or such other agent. 
 SECTION 8.6. Compensation; Indemnity; Fees. 
 The Depositor agrees: 
 (a) to pay to the Property Trustee from time to time such reasonable compensation for all services rendered
by them hereunder as may be agreed upon by the Depositor and the Property Trustee from time to time (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (b) to reimburse the Property Trustee upon request for all reasonable expenses, disbursements and advances incurred or made by the Property Trustee in
accordance with any provision of this Trust Agreement (including the reasonable compensation, expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to their negligence, bad
faith or willful misconduct; and 
 (c) to the fullest extent permitted by applicable law, to indemnify and hold harmless (i) the
Property Trustee, (ii) each Administrator, (iii) any Affiliate of the Property Trustee, (iv) any officer, director, shareholder, employee, representative or agent of the Property Trustee, and (v) any employee or agent of the
Issuer Trust, (referred to herein as an “Indemnified Person”) from and against any loss, damage, liability, tax, penalty, expense or claim of any kind or nature whatsoever incurred by such Indemnified Person arising out of or in
connection with the creation, operation or dissolution of the Issuer Trust or any act or omission performed or omitted by such Indemnified Person in good faith on behalf of the Issuer Trust and in a manner such Indemnified Person reasonably believed
to be within the scope of authority conferred on such Indemnified Person by this Trust Agreement, except that no Indemnified Person shall be entitled to be indemnified in respect of any loss, damage or claim incurred by such Indemnified Person by
reason of negligence, bad faith or willful misconduct with respect to such acts or omissions. 
 The provisions of this Section 8.6
shall survive the termination of this Trust Agreement and the resignation or removal of the Indemnified Persons. 
 The obligation of the
Depositor under this Section 8.6 to compensate, reimburse and indemnify the Property Trustee shall be secured by a Lien upon all Trust Property (except funds held in trust for the benefit of Holders of particular Trust Securities), but only to
the extent of the interest of the Holder of the Common Securities therein. 
 The Depositor, any Administrator and the Property Trustee may
engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Issuer Trust, and the Issuer Trust and the Holders of Trust Securities shall have no
rights by virtue of this Trust Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such 

  

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venture, even if competitive with the business of the Issuer Trust, shall not be deemed wrongful or improper. Neither the Depositor, any Administrator, nor
the Property Trustee shall be obligated to present any particular investment or other opportunity to the Issuer Trust even if such opportunity is of a character that, if presented to the Issuer Trust, could be taken by the Issuer Trust, and the
Depositor, any Administrator or the Property Trustee shall have the right to take for its own account (individually or as a partner or fiduciary) or to recommend to others any such particular investment or other opportunity. The Property Trustee may
engage or be interested in any financial or other transaction with the Depositor or any Affiliate of the Depositor, or may act as depository for, trustee or agent for, or act on any committee or body of holders of, securities or other obligations of
the Depositor or its Affiliates. 
 SECTION 8.7. Corporate Property Trustee Required; Eligibility of Trustee and Administrators.

 (a) There shall at all times be a Property Trustee hereunder with respect to the Trust Securities. The Property Trustee shall be a Person
that is a national or state chartered bank and eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $100,000,000. If any such Person publishes reports of condition at least annually, pursuant
to law or to the requirements of its supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. If at any time the Property Trustee with respect to the Trust Securities shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article VIII. At the time of appointment, the Property Trustee must have securities rated in one of the three highest rating categories by a nationally recognized statistical rating organization. 
 (b) There shall at all times be one or more Administrators hereunder. Each Administrator shall be either a natural person who is at least 21 years of age
or a legal entity that shall act through one or more persons authorized to bind that entity. An employee, officer or Affiliate of the Depositor may serve as an Administrator. 
 SECTION 8.8. Conflicting Interests. 
 (a) If the Property Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Property Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and
subject to the provisions of, the Trust Indenture Act and this Trust Agreement. 
 (b) The Guarantee and the Indenture shall be deemed to be
sufficiently described in this Trust Agreement for the purposes of clause (i) of the first proviso contained in Section 310(b) of the Trust Indenture Act. 
  

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 SECTION 8.9. Co-Trustees and Separate Trustee. 
 Unless and until a Debenture Event of Default shall have occurred and be continuing, at any time or times, for the purpose of meeting the legal
requirements of the Trust Indenture Act or of any jurisdiction in which any part of the Trust Property may at the time be located, the Holder of the Common Securities and the Administrators shall have power to appoint one or more Persons either to
act as co-trustee, jointly with the Property Trustee, of all or any part of such Trust Property, or to the extent required by law to act as separate trustee of any such property, in either case with such powers as may be provided in the instrument
of appointment, and to vest in such Person or Persons in the capacity aforesaid, any property, title, right or power deemed necessary or desirable, subject to the other provisions of this Section. If a Debenture Event of Default shall have occurred
and be continuing, the Property Trustee shall have the power with the consent of the Holders to appoint such a co-trustee or separate trustee, and upon the written request of the Property Trustee, the Depositor and the Administrators shall for such
purpose join with the Property Trustee in the execution, delivery and performance of all instruments and agreements necessary or proper to appoint such co-trustee or separate trustee. Any co-trustee or separate trustee appointed pursuant to this
Section shall either be (i) a natural person who is at least 21 years of age and a resident of the United States or (ii) a legal entity with its principal place of business in the United States that shall act through one or more persons
authorized to bind such entity. 
 Should any written instrument from the Depositor be required by any co-trustee or separate trustee so
appointed for more fully confirming to such co-trustee or separate trustee such property, title, right, or power, any and all such instruments shall, on request, be executed, acknowledged and delivered by the Depositor. 
 Every co-trustee or separate trustee shall, to the extent permitted by law, but to such extent only, be appointed subject to the following terms, namely:

 (a) The Trust Securities shall be executed by one or more Administrators, and the Trust Securities shall be authenticated and delivered by
the Property Trustee and all rights, powers, duties, and obligations hereunder in respect of the custody of securities, cash and other personal property held by, or required to be deposited or pledged with, the Property Trustee specified hereunder,
shall be exercised, solely by the Property Trustee and not by such co-trustee or separate trustee. 
 (b) The rights, powers, duties, and
obligations hereby conferred or imposed upon the Property Trustee in respect of any property covered by such appointment shall be conferred or imposed upon and exercised or performed by the Property Trustee and such co-trustee or separate trustee
jointly, as shall be provided in the instrument appointing such co-trustee or separate trustee, except to the extent that under any law of any jurisdiction in which any particular act is to be performed, the Property Trustee shall be incompetent or
unqualified to perform such act, in which event such rights, powers, duties and obligations shall be exercised and performed by such co-trustee or separate trustee. 
 (c) The Property Trustee at any time, by an instrument in writing executed by it, with the written concurrence of the Depositor, may accept the resignation of or remove any co-trustee or separate trustee appointed
under this Section, and, in case a Debenture Event of 

  

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Default has occurred and is continuing, the Property Trustee shall have power to accept the resignation of, or remove, any such co-trustee or separate
trustee without the concurrence of the Depositor. Upon the written request of the Property Trustee, the Depositor shall join with the Property Trustee in the execution, delivery and performance of all instruments and agreements necessary or proper
to effectuate such resignation or removal. A successor to any co-trustee or separate trustee so resigned or removed may be appointed in the manner provided in this Section 8.9. 
 (d) No co-trustee or separate trustee hereunder shall be personally liable by reason of any act or omission of the Property Trustee or any other trustee
hereunder. 
 (e) The Property Trustee shall not be liable by reason of any act of a co-trustee or separate trustee. 
 (f) Any Act of Holders delivered to the Property Trustee shall be deemed to have been delivered to each such co-trustee and separate trustee. 

SECTION 8.10. Resignation and Removal; Appointment of Successor. 
 (a) No resignation or removal of the Property Trustee and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor trustee in
accordance with the applicable requirements of Section 8.11. 
 (b) Subject to the immediately preceding paragraph, the Property Trustee
may resign at any time by giving written notice thereof to the Holders and the Depositors. The Holder of the Common Securities shall appoint a successor by requesting from at least three Persons meeting the eligibility requirements of
Section 8.7 such Persons’ expenses and charges to serve as the successor trustee on a form provided by the Administrators, and selecting the Person who agrees to the lowest expenses and charges. If the instrument of acceptance by the
successor trustee required by Section 8.11 shall not have been delivered to the Property Trustee within 60 days after the giving of such notice of resignation, the Property Trustee may petition, at the expense of the Issuer Trust, any
court of the State of Connecticut for the appointment of a successor Property Trustee. 
 (c) The Property Trustee may be removed (i) at
any time without cause by the holder of the Common Securities or (ii) for cause or if a Debenture Event of Default shall have occurred and be continuing at any time, by Act of the Holders of at least a Majority in Liquidation Amount of the
Capital Securities, delivered to the Property Trustee (in its individual capacity and on behalf of the Issuer Trust). 
 (d) If the Property
Trustee shall be removed or become incapable of acting as Property Trustee, or if any vacancy shall occur in the office of the Property Trustee for any cause, the Holder of the Common Securities shall promptly appoint a successor Property Trustee or
Trustees, and such successor Property Trustee shall comply with the applicable requirements of Section 8.11, provided, however, if a Debenture Event of Default shall have occurred and be 

  

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continuing at such time, the Holders of the Capital Securities, by Act of the Holders of record of not less than 25% in aggregate Liquidation Amount of the
Capital Securities then Outstanding delivered to such Property Trustee, shall appoint such successor trustee. If no successor trustee shall have been so appointed by the Holder of the Common Securities or the Holders of the Capital Securities, as
applicable, or shall not have accepted appointment in the manner required by Section 8.11 hereof, any Holder, on behalf of himself and all others similarly situated, may petition any court in the State of Connecticut for the appointment of a
successor trustee. 
 (e) The Property Trustee shall give notice of the resignation and the removal of the Property Trustee and the
appointment of a successor trustee to all Holders in the manner provided in Section 10.8 and shall give notice to the Depositor and to the Administrators. Each notice shall include the name of the Property Trustee and the address of its
Corporate Trust Office. 
 SECTION 8.11. Acceptance of Appointment by Successor. 
 In case of the appointment hereunder of a successor Property Trustee, the retiring Property Trustee and such successor Property Trustee (if requested by
the Depositor) with respect to the Trust Securities shall execute, acknowledge and deliver an amendment hereto wherein such successor Property Trustee shall accept such appointment and which (a) shall contain such provisions as shall be
necessary or desirable to transfer and confirm to, and to vest in, such successor Property Trustee all the rights, powers, trusts and duties of the retiring Property Trustee with respect to the Trust Securities and the Issuer Trust, and
(b) shall add to or change any of the provisions of this Trust Agreement as shall be necessary to provide for or facilitate the administration of the Issuer Trust by more than one Property Trustee, it being understood that nothing herein or in
such amendment shall constitute such Property Trustee a co-trustee, and upon the execution and delivery of such amendment, the resignation or removal of the retiring Property Trustee shall become effective to the extent provided therein and each
such successor Property Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Property Trustee; but, on request of the Issuer Trust or any successor Property Trustee
such retiring Property Trustee shall duly assign, transfer and deliver to such successor Property Trustee all Trust Property, all proceeds thereof and money held by such retiring Property Trustee hereunder with respect to the Trust Securities and
the Issuer Trust. 
 Upon request of any such successor Property Trustee, the Issuer Trust shall execute any and all instruments for more
fully and certainly vesting in and confirming to such successor Property Trustee all such rights, powers and trusts referred to in the preceding paragraph. 
 No successor Property Trustee shall accept its appointment unless at the time of such acceptance such successor Property Trustee shall be qualified and eligible under this Article VIII. 
  

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 SECTION 8.12. Merger, Conversion, Consolidation or Succession to Business. 
 Any Person into which the Property Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger,
conversion or consolidation to which such Property Trustee shall be a party, or any Person succeeding to all or substantially all the corporate trust business of such Property Trustee, shall be the successor of such Property Trustee hereunder,
provided that such Person shall be otherwise qualified and eligible under this Article VIII, without the execution or filing of any paper or any further act on the part of any of the parties hereto. 
 SECTION 8.13. Preferential Collection of Claims Against Depositor or Issuer Trust. 
 If and when the Property Trustee shall be or become a creditor of the Depositor (or any other obligor upon the Trust Securities), the Property Trustee
shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor (or any such other obligor). 
 SECTION 8.14. Trustee May File Proofs of Claim. 
 In case of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other similar judicial proceeding relative to the Issuer Trust or any other obligor upon the Trust Securities or the property of the Issuer Trust or of such other obligor, the Property Trustee
(irrespective of whether any Distributions on the Trust Securities shall then be due and payable and irrespective of whether the Property Trustee shall have made any demand on the Issuer Trust for the payment of any past due Distributions) shall be
entitled and empowered, to the fullest extent permitted by law, by intervention in such proceeding or otherwise: 
 (a) to file and prove a
claim for the whole amount of any Distributions owing and unpaid in respect of the Trust Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Property Trustee (including any claim
for the reasonable compensation, expenses, disbursements and advances of the Property Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding; and 
 (b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; and any custodian,
receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Property Trustee and, in the event the Property Trustee shall consent to
the making of such payments directly to the Holders, to pay to the Property Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Property Trustee, its agents and counsel, and any other amounts due
the Property Trustee. 
 Nothing contained herein shall be deemed to authorize the Property Trustee to authorize or consent to or accept or
adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or compensation affecting the Trust Securities or the rights of any Holder thereof or to authorize the Property Trustee to vote in respect of the claim of any Holder
in any such proceeding. 
  

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 SECTION 8.15. Reports by Property Trustee. 
 (a) Not later than January 31 of each year commencing with January 31, 2007, the Property Trustee shall transmit to all Holders in accordance
with Section 10.8, and to the Depositor, a brief report dated as of the immediately preceding December 31 with respect to: 
 (i) its eligibility under Section 8.7 or, in lieu thereof, if to the best of its knowledge it has continued to be eligible under said Section, a written statement to such effect; and 
 (ii) any change in the property and funds in its possession as Property Trustee since the date of its last report and any action taken by
the Property Trustee in the performance of its duties hereunder which it has not previously reported and which in its opinion materially affects the Trust Securities. 
 (b) In addition the Property Trustee shall transmit to Holders such reports concerning the Property Trustee and its actions under this Trust Agreement as may be required pursuant to the Trust Indenture Act at the
times and in the manner provided pursuant thereto. 
 (c) A copy of each such report shall, at the time of such transmission to Holders, be
filed by the Property Trustee with the Depositor. 
 SECTION 8.16. Reports to the Property Trustee. 
 The Depositor and the Administrators on behalf of the Issuer Trust shall provide to the Property Trustee such documents, reports and information as
required or specified by Section 314 of the Trust Indenture Act (if any and to the extent applicable) and the compliance certificate required or specified by Section 314(a) of the Trust Indenture Act in the form, in the manner and at the
times set forth in Section 314 of the Trust Indenture Act. The Depositor and the Administrators shall annually file with the Property Trustee a certificate specifying whether such Person is in compliance with all the terms and covenants
applicable to such Person hereunder. 
 SECTION 8.17. Evidence of Compliance with Conditions Precedent. 
 Each of the Depositor and the Administrators on behalf of the Issuer Trust shall provide to the Property Trustee such evidence of compliance with any
conditions precedent, if any, provided for in this Trust Agreement that relate to any of the matters set forth in Section 314(c) of the Trust Indenture Act. Any certificate or opinion required to be given by an officer pursuant to
Section 314(c)(1) of the Trust Indenture Act shall be given in the form of an Officers’ Certificate. 
  

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 SECTION 8.18. Number of Trustees. 
 (a) The number of Trustees shall be one, which shall be the Property Trustee. 
 (b) If the Property Trustee ceases to hold office for any reason, a vacancy shall occur. The vacancy shall be filled with a Property Trustee appointed in
accordance with Section 8.10. 
 (c) The death, resignation, retirement, removal, bankruptcy, incompetence or incapacity to perform the
duties of the Property Trustee shall not operate to dissolve, terminate or annul the Issuer Trust or terminate this Trust Agreement. 
 SECTION 8.19. Delegation of Power. 
 (a) Any Administrator may, by power of attorney consistent with applicable law, delegate
to any other natural person over the age of 21 his or her power for the purpose of executing any documents contemplated in Section 2.8(a) or making any governmental filing; and 
 (b) The Administrators shall have power to delegate from time to time to such of their number the doing of such things and the execution of such
instruments either in the name of the Issuer Trust or the names of the Administrators or otherwise as the Administrators may deem expedient, to the extent such delegation is not prohibited by applicable law or contrary to the provisions of this
Trust Agreement. 
 SECTION 8.20. Appointment of Administrators. 
 (a) The Administrators shall be appointed by the Holder of the Common Securities and may be removed by the Holder of the Common Securities or may resign
at any time. Upon any resignation or removal, the Holder of the Common Securities shall appoint a successor Administrator. Each Administrator shall execute this Trust Agreement thereby agreeing to comply with, and be legally bound by, all of the
terms, conditions and provisions of this Trust Agreement. If at any time there is no Administrator, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction
for the appointment of one or more Administrators. 
 (b) Whenever a vacancy in the number of Administrators shall occur, until such vacancy
is filled by the appointment of an Administrator in accordance with this Section 8.20, the Administrators in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to
the Administrators and shall discharge all the duties imposed upon the Administrators by this Trust Agreement. 
 (c) Notwithstanding the
foregoing, or any other provision of this Trust Agreement, in the event any Administrator who is a natural person dies or becomes, in the opinion of the Holder of the Common Securities, incompetent, or incapacitated, the vacancy created by such
death, incompetence or incapacity may be filled by the Holder of the Common Securities (with the successor being a Person who satisfies the eligibility requirement for Administrators, as the case may be, set forth in Section 8.7). 

 

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 Except as otherwise provided in this Trust Agreement, or by applicable law, any one Administrator may
execute any document or otherwise take any action that the Administrators are authorized to take under this Trust Agreement. 
 ARTICLE IX

 DISSOLUTION, LIQUIDATION AND MERGER 
 SECTION 9.1. Dissolution Upon Expiration Date. 
 Unless earlier dissolved, the Issuer Trust shall
automatically dissolve on March 15, 2042 (the “Expiration Date”), and thereafter the Trust Property shall be distributed in accordance with Section 9.4. 
 SECTION 9.2. Early Dissolution. 
 The
first to occur of any of the following events is an “Early Termination Event,” upon the occurrence of which the Issuer Trust shall dissolve: 
 (a) the occurrence of the appointment of a receiver or other similar official in any liquidation, insolvency or similar proceeding with respect to the Depositor or all or substantially all of its property, or entry by
a court or other governmental agency of a decree or order and such decree or order shall remain unstayed and undischarged for a period of 60 days, unless the Depositor shall transfer the Common Securities as provided by Section 5.11, in
which case this provision shall refer instead to any such successor Holder of the Common Securities; 
 (b) the written direction to the
Property Trustee from the Holder of the Common Securities at any time to dissolve the Issuer Trust and, after paying or making reasonable provision to pay all charges and obligations of the Issuer Trust in accordance with Section 34-503 of the
Statutory Trust Act, to distribute the Junior Subordinated Debentures to Holders in exchange for the Trust Securities (which direction, subject to Section 9.4(a), is optional and wholly within the discretion of the Holder of the Common
Securities); 
 (c) the repayment of all of the Capital Securities in connection with the repayment at maturity or redemption of all the
Junior Subordinated Debentures; and 
 (d) the entry of an order for dissolution of the Issuer Trust by a court of competent jurisdiction.

 SECTION 9.3. Termination. 
 As soon as is practicable after the occurrence of an event referred to in Section 9.1 or 9.2, and upon the completion of the winding-up and liquidation of the Issuer Trust, the Administrators and the Property Trustee (each of whom is
hereby authorized to take such action) shall file a certificate of cancellation with the Secretary of State of the State of Connecticut terminating the Issuer Trust and, upon such filing, the respective obligations and responsibilities of the
Property Trustee, the Administrators and the Issuer Trust created and continued hereby shall terminate. 
  

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 SECTION 9.4. Liquidation. 
 (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer
Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in
accordance with Section 34-503 of the Statutory Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage
prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder’s address appearing in the Securities Register. All notices of liquidation shall: 
 (i) state the Liquidation Date; 
 (ii) state that, from and after the Liquidation Date, the Trust Securities will no longer be deemed to be Outstanding and any Trust Securities Certificates not surrendered for exchange will be deemed to represent a
Like Amount of Junior Subordinated Debentures; and 
 (iii) provide such information with respect to the mechanics by which
Holders may exchange Trust Securities Certificates for Junior Subordinated Debentures, or if Section 9.4(d) applies receive a Liquidation Distribution, as the Administrators or the Property Trustee shall deem appropriate. 
 (b) Except where Section 9.2(c) or 9.4(d) applies, in order to effect the liquidation of the Issuer Trust and distribution of the Junior
Subordinated Debentures to Holders, the Property Trustee shall establish a record date for such distribution (which shall be not more than 30 days prior to the Liquidation Date) and, either itself acting as exchange agent or through the
appointment of a separate exchange agent, shall establish such procedures as it shall deem appropriate to effect the distribution of Junior Subordinated Debentures in exchange for the Outstanding Trust Securities Certificates. 
 (c) Except where Section 9.2(c) or 9.4(d) applies, after the Liquidation Date, (i) the Trust Securities will no longer be deemed to be
Outstanding, (ii) the Clearing Agency for the Global Capital Securities or its nominee, as the registered Holder of the Global Capital Securities Certificates, shall receive a registered global certificate or certificates representing the
Junior Subordinated Debentures to be delivered upon such distribution with respect to Capital Securities held by the Clearing Agency or its nominee, and (iii) any Trust Securities Certificates not held by the Clearing Agency for the Global
Capital Securities or its nominee as specified in clause (ii) above will be deemed to represent Junior Subordinated Debentures having a principal amount equal to the stated Liquidation Amount of the Trust Securities represented thereby and
bearing accrued and unpaid interest in an amount equal to the accumulated and unpaid Distributions on such Trust Securities until such certificates are presented to the Securities Registrar for transfer or reissuance. 
  

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 (d) If, notwithstanding the other provisions of this Section 9.4, whether because of an order for
dissolution entered by a court of competent jurisdiction or otherwise, distribution of the Junior Subordinated Debentures is not practical, or if any Early Termination Event specified in clause (c) of Section 9.2 occurs, the Issuer Trust
shall be dissolved, and the Trust Property shall be liquidated, by the Property Trustee in such manner as the Property Trustee determines. In such event, on the date of the dissolution of the Issuer Trust, Holders will be entitled to receive out of
the assets of the Issuer Trust available for distribution to Holders, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 34-503 of the Statutory Trust Act, an amount
equal to the aggregate of Liquidation Amount per Trust Security plus accumulated and unpaid Distributions thereon to the date of payment (such amount being the “Liquidation Distribution”). If, upon any such dissolution, the
Liquidation Distribution can be paid only in part because the Issuer Trust has insufficient assets available to pay in full the aggregate Liquidation Distribution, then, subject to the next succeeding sentence, the amounts payable by the Issuer
Trust on the Trust Securities shall be paid on a pro rata basis (based upon Liquidation Amounts). The Holder of the Common Securities will be entitled to receive Liquidation Distributions upon any such dissolution, pro rata (determined as aforesaid)
with Holders of Capital Securities, except that, if a Debenture Event of Default in Sections 5.1(1) or 5.1(2) of the Indenture has occurred and is continuing, the Capital Securities shall have a priority over the Common Securities as provided in
Section 4.3. 
 SECTION 9.5. Mergers, Consolidations, Amalgamations or Replacements of the Issuer Trust. 
 The Issuer Trust may not merge with or into, consolidate, amalgamate, or be replaced by, or convey, transfer or lease its properties and assets
substantially as an entirety to, any entity, except pursuant to this Section 9.5 or Section 9.4. At the request of the Holder of the Common Securities, and with the consent of the Holders of at least a Majority in Liquidation Amount of the
Capital Securities, but without the consent of the Property Trustee, the Issuer Trust may merge with or into, consolidate, amalgamate, or be replaced by or convey, transfer or lease its properties and assets substantially as an entirety to a trust
organized as such under the laws of any state; provided that (i) such successor entity either (a) expressly assumes all of the obligations of the Issuer Trust with respect to the Capital Securities or (b) substitutes for the
Capital Securities other securities having substantially the same terms as the Capital Securities (the “Successor Capital Securities”) so long as the Successor Capital Securities have the same priority as the Capital Securities with
respect to distributions and payments upon liquidation, redemption and otherwise, (ii) a trustee of such successor entity possessing the same powers and duties as the Property Trustee is appointed to hold the Junior Subordinated Debentures,
(iii) such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease does not cause the Capital Securities (including any Successor Capital Securities) to be downgraded by any nationally recognized statistical rating
organization, if such Capital Securities have been rated by such nationally recognized statistical rating organization, (iv) such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease does not adversely affect the
rights, preferences and privileges of the holders of the Capital Securities (including any Successor 

  

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Capital Securities) in any material respect, (v) such successor entity has a purpose substantially identical to that of the Issuer Trust,
(vi) prior to such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease, the Issuer Trust has received an Opinion of Counsel from a firm experienced in such matters to the effect that (a) such merger,
consolidation, amalgamation, replacement, conveyance, transfer or lease does not adversely affect the rights preferences and privileges of the holders of the Capital Securities (including any Successor Capital Securities) in any material respect,
and (b) following such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease, neither the Issuer Trust nor such successor entity will be required to register as an “investment company” under the Investment
Company Act and (vii) the Depositor or any permitted transferee to whom it has transferred the Common Securities hereunder owns all of the common securities of such successor entity and guarantees the obligations of such successor entity under
the Capital Securities or Successor Capital Securities at least to the extent provided by the Guarantee. Notwithstanding the foregoing, the Issuer Trust shall not, except with the consent of Holders of 100% in Liquidation Amount of the Capital
Securities, consolidate, amalgamate, merge with or into, or be replaced by or convey, transfer or lease its properties and assets substantially as an entirety to, any other entity or permit any other entity to consolidate, amalgamate, merge with or
into, or replace it if such consolidation, amalgamation, merger, replacement, conveyance, transfer or lease would cause the Issuer Trust or the successor entity to be taxable other than as a grantor trust for United States Federal income tax
purposes. 
 ARTICLE X 
 MISCELLANEOUS PROVISIONS 
 SECTION 10.1. Limitation of Rights of Holders. 
 Except as set forth in Section 9.2, the bankruptcy, dissolution, termination, death or incapacity of any Person having an interest, beneficial or
otherwise, in Trust Securities shall not operate to terminate this Trust Agreement, nor entitle the legal or personal representatives or heirs of such Person or any Holder for such Person, to claim an accounting, take any action or bring any
proceeding in any court for a partition or winding-up of the arrangements contemplated hereby, nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them. Any merger or similar agreement shall be executed by
the Administrators on behalf of the Issuer Trust. 
 SECTION 10.2. Amendment. 
 (a) This Trust Agreement may be amended from time to time by the Holder of the Common Securities, without the consent of any Holder of the Capital
Securities (i) to cure any ambiguity, correct or supplement any provision herein which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Trust Agreement,
provided, however, such amendment shall not adversely affect in any material respect the interests of any Holder or (ii) to modify, eliminate or add to any provisions of this Trust Agreement to such extent as shall be necessary to ensure
that the Issuer Trust will not be taxable other than as a grantor trust for United States Federal income tax purposes at any time that any Trust Securities are Outstanding or to ensure that the Issuer Trust will not be required to register as an
investment company under the Investment Company Act. 
  

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 (b) Except as provided in Section 10.2(c) hereof, any provision of this Trust Agreement may be
amended by the Holder of the Common Securities with (i) the consent of Holders of at least a Majority in Liquidation Amount of the Capital Securities and (ii) receipt by the Property Trustee of an Opinion of Counsel to the effect that such
amendment or the exercise of any power granted to the Property Trustee in accordance with such amendment will not affect the Issuer Trust’s being taxable as a grantor trust for United States Federal income tax purposes or the Issuer
Trust’s exemption from status of an “investment company” under the Investment Company Act. 
 (c) In addition to and
notwithstanding any other provision in this Trust Agreement, without the consent of each affected Holder, this Trust Agreement may not be amended to (i) change the amount or timing of any Distribution on the Trust Securities or otherwise
adversely affect the amount of any Distribution required to be made in respect of the Trust Securities as of a specified date or (ii) restrict the right of a Holder to institute suit for the enforcement of any such payment on or after such
date. 
 (d) Notwithstanding any other provisions of this Trust Agreement, the Property Trustee shall enter into or consent to any amendment
to this Trust Agreement which would cause the Issuer Trust to fail or cease to qualify for the exemption from status as an “investment company” under the Investment Company Act or be taxable other than as a grantor trust for United States
Federal income tax purposes. 
 (e) Notwithstanding anything in this Trust Agreement to the contrary, without the consent of the Depositor
and the Administrators, this Trust Agreement may not be amended in a manner that imposes any additional obligation on the Depositor or the Administrators. 
 (f) In the event that any amendment to this Trust Agreement is made, the Administrators or the Property Trustee shall promptly provide to the Depositor a copy of such amendment. 
 (g) No amendment to this Trust Agreement may be adopted that adversely affects the Property Trustee’s rights, duties or immunities under this Trust
Agreement, except with the consent of such Property Trustee. The Property Trustee shall be entitled to receive an Opinion of Counsel and an Officers’ Certificate stating that any amendment to this Trust Agreement is in compliance with this
Trust Agreement. 
 (h) Any amendments to this Trust Agreement made pursuant to Section 10.2(a) shall become effective when notice of
such amendment is given to the Holders of the Trust Securities. 
  

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 SECTION 10.3. Separability. 
 In case any provision in this Trust Agreement or in the Trust Securities Certificates shall be determined to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 10.4.
Governing Law. 
 THIS TRUST AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF EACH OF THE HOLDERS, THE ISSUER TRUST, THE DEPOSITOR, THE
PROPERTY TRUSTEE AND THE ADMINISTRATORS SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CONNECTICUT AND ALL RIGHTS AND REMEDIES SHALL BE GOVERNED BY SUCH LAWS WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS OF
THE STATE OF CONNECTICUT OR ANY OTHER JURISDICTION THAT WOULD CALL FOR THE APPLICATION OF THE LAW OF ANY JURISDICTION OTHER THAN THE STATE OF CONNECTICUT; PROVIDED, HOWEVER, THAT THERE SHALL NOT BE APPLICABLE TO THE HOLDERS, THE ISSUER TRUST, THE
DEPOSITOR, THE PROPERTY TRUSTEE, THE ADMINISTRATORS OR THIS TRUST AGREEMENT ANY PROVISION OF THE LAWS (STATUTORY OR COMMON) OF THE STATE OF CONNECTICUT PERTAINING TO TRUSTS OTHER THAN THE STATUTORY TRUST ACT THAT RELATE TO OR REGULATE, IN A MANNER
INCONSISTENT WITH THE TERMS HEREOF (A) THE FILING WITH ANY COURT OR GOVERNMENTAL BODY OR AGENCY OF TRUSTEE ACCOUNTS OR SCHEDULES OF TRUSTEE FEES AND CHARGES, (B) AFFIRMATIVE REQUIREMENTS TO POST BONDS FOR TRUSTEES, OFFICERS, AGENTS OR
EMPLOYEES OF A TRUST, (C) THE NECESSITY FOR OBTAINING COURT OR OTHER GOVERNMENTAL APPROVAL CONCERNING THE ACQUISITION, HOLDING OR DISPOSITION OF REAL OR PERSONAL PROPERTY, (D) FEES OR OTHER SUMS PAYABLE TO TRUSTEES, OFFICERS, AGENTS OR
EMPLOYEES OF A TRUST, (E) THE ALLOCATION OF RECEIPTS AND EXPENDITURES TO INCOME OR PRINCIPAL, (F) RESTRICTIONS OR LIMITATIONS ON THE PERMISSIBLE NATURE, AMOUNT OR CONCENTRATION OF TRUST INVESTMENTS OR REQUIREMENTS RELATING TO THE TITLING,
STORAGE OR OTHER MANNER OF HOLDING OR INVESTING TRUST ASSETS OR (G) THE ESTABLISHMENT OF FIDUCIARY OR OTHER STANDARDS OF RESPONSIBILITY OR LIMITATIONS ON THE ACTS OR POWERS OF TRUSTEES THAT ARE INCONSISTENT WITH THE LIMITATIONS OR LIABILITIES
OR AUTHORITIES AND POWERS OF THE PROPERTY TRUSTEE OR THE ADMINISTRATOR AS SET FORTH OR REFERENCED IN THIS TRUST AGREEMENT. 
 SECTION
10.5. Payments Due on Non-Business Day. 
 If the date fixed for any payment on any Trust Security shall be a day that is not a Business
Day, then such payment need not be made on such date but may be made on the next succeeding day that is a Business Day except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding
Business Day, in each case, with the same force and effect as though made on the date fixed for such payment, and no Distributions or interest shall accumulate on such unpaid amount for the period after such date. 
  

 - 57 - 

 SECTION 10.6. Successors. 
 This Trust Agreement shall be binding upon and shall inure to the benefit of any successor to the Depositor, the Issuer Trust, the Administrators and the
Property Trustee, including any successor by operation of law. Except in connection with a consolidation, merger or sale involving the Depositor that is permitted under Article VIII of the Indenture and pursuant to which the assignee agrees in
writing to perform the Depositor’s obligations hereunder, the Depositor shall not assign its obligations hereunder. 
 SECTION 10.7.
Headings. 
 The Article and Section headings are for convenience only and shall not affect the construction of this Trust Agreement.

 SECTION 10.8. Reports, Notices and Demands. 
 Any report, notice, demand or other communication that by any provision of this Trust Agreement is required or permitted to be given or served to or upon any Holder or the Depositor may be given or served in writing
by deposit thereof, first class postage prepaid, in the United States mail, hand delivery or facsimile transmission, in each case, addressed, (a) in the case of a Holder of Capital Securities, to such Holder as such Holder’s name and
address may appear on the Securities Register; and (b) in the case of the Holder of Common Securities or the Depositor, to GAINSCO, INC., 3333 Lee Parkway, Suite 1200, Dallas, Texas 75219, Attention: Chief Financial Officer, facsimile no.:
(972) 629-4401 or to such other address as may be specified in a written notice by the Depositor to the Property Trustee. Such notice, demand or other communication to or upon a Holder shall be deemed to have been sufficiently given or made,
for all purposes, upon hand delivery, mailing or transmission. Such notice, demand or other communication to or upon the Depositor shall be deemed to have been sufficiently given or made only upon actual receipt of the writing by the Depositor.

 Any notice, demand or other communication which by any provision of this Trust Agreement is required or permitted to be given or served to
or upon the Issuer Trust, the Property Trustee, the Administrators, or the Issuer Trust shall be given in writing addressed (until another address is published by the Issuer Trust) as follows: (a) with respect to the Property Trustee to U.S.
Bank National Association, 225 Asylum Street, 23rd Floor Hartford, Connecticut 06103, Attention: Corporate Trust Services – GAINSCO Statutory Trust II ; with a copy to U.S. Bank National Association, One Federal Street, 3rd Floor, Boston
Massachusetts 02110; and (b) with respect to the Administrators, to them at the address above for notices to the Depositor, marked “Attention: GAINSCO Statutory Trust II Administrators.” Such notice, demand or other communication to
or upon the Issuer Trust or the Property Trustee shall be deemed to have been sufficiently given or made only upon actual receipt of the writing by the Issuer Trust, the Property Trustee, or such Administrator. 
  

 - 58 - 

 SECTION 10.9. Agreement Not to Petition. 
 Each of the Property Trustee, the Administrators and the Depositor agree for the benefit of the Holders that, until at least one year and one day after
the Issuer Trust has been terminated in accordance with Article IX, they shall not file, or join in the filing of, a petition against the Issuer Trust under any bankruptcy, insolvency, reorganization or other similar law (including, without
limitation, the United States Bankruptcy Code) (collectively, “Bankruptcy Laws”) or otherwise join in the commencement of any proceeding against the Issuer Trust under any Bankruptcy Law. In the event the Depositor takes action in
violation of this Section 10.9, the Property Trustee agrees, for the benefit of Holders, that at the expense of the Depositor, it shall file an answer with the bankruptcy court or other court or otherwise properly contest the filing of such
petition by the Depositor against the Issuer Trust or the commencement of such action and raise the defense that the Depositor has agreed in writing not to take such action and should be estopped and precluded therefrom and such other defenses, if
any, as counsel for the Property Trustee or the Issuer Trust may assert. If the Property Trustee or Administrator takes action in violation of this Section 10.9, the Depositor agrees, for the benefit of the Holders, that at the expense of the
Depositor, it shall file an answer with the bankruptcy court or otherwise properly contest the filing of such petition by such Person against the Depositor or the commencement of such action and raise the defense that such Person has agreed in
writing not to take such action and should be estopped and precluded therefrom and such other defenses, if any, as counsel for the Property Trustee or the Issuer Trust may assert. The provisions of this Section 10.9 shall survive the
termination of this Trust Agreement. 
 SECTION 10.10. Trust Indenture Act; Conflict with Trust Indenture Act. 
 (a) Trust Indenture Act; Application. (i) This Trust Agreement is subject to the provisions of the Trust Indenture Act that are required to be
a part of this Trust Agreement and shall, to the extent applicable, be governed by such provisions; (ii) if and to the extent that any provision of this Trust Agreement limits, qualifies or conflicts with the duties imposed by Sections 310 to
317, inclusive, of the Trust Indenture Act, such imposed duties shall control; (iii) for purposes of this Trust Agreement, the Property Trustee, to the extent permitted by applicable law and/or the rules and regulations of the Commission, shall
be the only Trustee which is a trustee for the purposes of the Trust Indenture Act; and (iv) the application of the Trust Indenture Act to this Trust Agreement shall not affect the nature of the Capital Securities and the Common Securities as
equity securities representing undivided beneficial interests in the assets of the Issuer Trust. 
 (b) Lists of Holders of Capital
Securities. (i) Each of the Depositor and the Administrators on behalf of the Trust shall provide the Property Trustee with such information as is required under Section 312(a) of the Trust Indenture Act at the times and in the manner
provided in Section 312(a) and (ii) the Property Trustee shall comply with its obligations under Sections 310(b), 311 and 312(b) of the Trust Indenture Act. 
 (c) Reports by the Property Trustee. Within 60 days after January 31 of each year commencing January 31, 2008, the Property Trustee shall provide to the Holders of the Trust Securities such reports as
are required by Section 313 of the Trust Indenture Act, if any, in 

  

 - 59 - 

 
the form, in the manner and at the times provided by Section 313 of the Trust Indenture Act. The Property Trustee shall also comply with the
requirements of Section 313(d) of the Trust Indenture Act. 
 (d) Periodic Reports to the Property Trustee. Each of the Depositor
and the Administrators on behalf of the Issuer Trust shall provide to the Property Trustee, the Commission and the Holders of the Trust Securities, as applicable, such documents, reports and information as may be required by Section 315(a)(1)
– (3) (if any) of the Trust Indenture Act and the compliance certificates required by Section 314(a)(4) and (c) of the Trust Indenture Act (provided that any certificate to be provided pursuant to Section 314(a)(4) of the
Trust Indenture Act shall be provided within 120 days of the end of each fiscal year of the Issuer Trust. 
 (e) Evidence of Compliance
with Conditions Precedent. Each of the Depositor and the Administrators on behalf of the Issuer Trust shall provide to the Property Trustee such evidence of compliance with any conditions precedent, if any, provided for in this Trust Agreement
which relate to any of the matters set forth in Section 314(c) of the Trust Indenture Act. Any certificate or opinion required to be given pursuant to Section 314(c) shall comply with Section 314(e) of the Trust Indenture Act.

 (f) Disclosure Information. The disclosure of information as to the names and addresses of the Holders of Trust Securities in
accordance with Section 312 of the Trust Indenture Act, regardless of the source from which such information was derived, shall not be deemed to be a violation of any existing law or any law hereafter enacted which does not specifically refer
to Section 312 of the Trust Indenture Act, nor shall the Property Trustee be held accountable by reason of mailing any material pursuant to a request made under Section 312(b) of the Trust Indenture Act. 
 SECTION 10.11. Acceptance of Terms of Trust Agreement, Guarantee and Indenture. 
 THE RECEIPT AND ACCEPTANCE OF A TRUST SECURITY OR ANY INTEREST THEREIN BY OR ON BEHALF OF A HOLDER OR ANY BENEFICIAL OWNER, WITHOUT ANY SIGNATURE OR
FURTHER MANIFESTATION OF ASSENT, SHALL CONSTITUTE THE UNCONDITIONAL ACCEPTANCE BY THE HOLDER AND ALL OTHERS HAVING A BENEFICIAL INTEREST IN SUCH TRUST SECURITY OF ALL THE TERMS AND PROVISIONS OF THIS TRUST AGREEMENT, THE GUARANTEE THE INDENTURE, AND
AGREEMENT TO THE SUBORDINATION PROVISIONS AND OTHER TERMS OF THE GUARANTEE AND THE INDENTURE, AND SHALL CONSTITUTE THE AGREEMENT OF THE ISSUER TRUST, SUCH HOLDER AND SUCH OTHERS THAT THE TERMS AND PROVISIONS OF THIS TRUST AGREEMENT SHALL BE BINDING,
OPERATIVE AND EFFECTIVE AS BETWEEN THE ISSUER TRUST AND SUCH HOLDER AND SUCH OTHERS. 
 * * * * 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts
shall together constitute but 

  

 - 60 - 

 
one and the same instrument. The exchange of copies of this Trust Agreement and of signature pages by facsimile or electronic transmission shall constitute
effective execution and delivery of this Trust Agreement as to the parties hereto, and may be used in lieu of the original signature pages to this Trust Agreement for all purposes. 
 [Signatures on Next Page] 
  

 - 61 - 

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

			
	 GAINSCO, INC.,
 as Depositor

		
	 By:
	 	 /s/ Glenn W. Anderson

	 Name:
	 	Glenn W. Anderson
	 Title:
	 	President and Chief Executive Officer
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as Property Trustee

		
	 By:
	 	 /s/ Paul D. Allen

	 Name:
	 	Paul D. Allen
	 Title:
	 	Vice President
	
	 /s/ Glenn W. Anderson

	 Name:
	 	Glenn W. Anderson
	 Title:
	 	Administrator
	
	 /s/ Daniel J. Coots

	 Name:
	 	Daniel J. Coots
	 Title:
	 	Administrator

  

 - 62 - 

 EXHIBIT A 
 CERTIFICATE OF TRUST 
 OF 
 GAINSCO STATUTORY TRUST II 
  

 - A-1 - 

 EXHIBIT B 
 RESTRICTED SECURITIES CERTIFICATE 
 (For transfers pursuant to § 5.5(b) 

of the Trust Agreement) 
 U.S. Bank National
Association, 
 as Securities Registrar 
 One Federal Street, 3rd Floor 
 Boston, Massachusetts 02110 
 Attention: Corporate Trust Services 

 

	 	Re:	Floating Rate Capital Securities (“Capital Securities”) 

 of GAINSCO Statutory Trust II (the “Trust”) 
 Reference is made to the Amended and Restated
Trust Agreement, dated as of December 21, 2006 (the “Trust Agreement”), among GAINSCO, Inc., as Depositor, U.S. Bank National Association, as Property Trustee, the Administrators named therein, and the Holders (as defined
therein) from time to time. Terms used herein and defined in the Trust Agreement or in Regulation D, Rule 144A or Rule 144 under the U.S. Securities Act of 1933 (the “Securities Act”) are used herein as so defined. 
 This certificate relates to $             aggregate Liquidation Amount of Capital
Securities, which are evidenced by the following certificate(s) (the “Specified Securities”): 
 CUSIP No(s).
                                       

CERTIFICATE No(s).
                         
 CURRENTLY IN BOOK-ENTRY FORM:         Yes         No (check one) 
 The person in whose name this certificate is executed below (the “Undersigned”) hereby certifies that either (i) it is the sole beneficial owner of
the Specified Securities or (ii) it is acting on behalf of all the beneficial owners of the Specified Securities and is duly authorized by them to do so. Such beneficial owner or owners are referred to herein collectively as the
“Owner.” If the Specified Securities are represented by a Global Capital Securities Certificate, they are held through the Clearing Agency or a Clearing Agency Participant in the name of the Undersigned, as or on behalf of the Owner. If
the Specified Securities are not represented by a Global Capital Securities Certificate, they are registered in the name of the Undersigned, as or on behalf of the Owner. 
 The Owner has requested that the Specified Securities be transferred to a person (the “Transferee”) who will take delivery in the form of a Restricted Capital Security. In 

  

 - B-1 - 

 
connection with such transfer, the Owner hereby certifies that, unless such transfer is being effected pursuant to an effective registration statement under
the Securities Act, it is being effected in accordance with Rule 144A, Rule 904 or Rule 144 under the Securities Act or other exemption from registration under the Securities Act, and all applicable securities laws of the states of the United States
and other jurisdictions. Accordingly, the Owner hereby further certifies as follows: 
 1. Rule 144A Transfers. If the transfer is
being effected in accordance with Rule 144A: 
 (A) the Specified Securities are being transferred to a person that the Owner and any person
acting on its behalf reasonably believe is a “qualified institutional buyer” within the meaning of Rule 144A, acquiring for its own account or for the account of a qualified institutional buyer; and 
 (B) the Owner and any person acting on its behalf have taken reasonable steps to ensure that the Transferee is aware that the Owner may be relying on
Rule 144A in connection with the transfer. 
 2. Rule 904 Transfers. If the transfer is being effected in accordance with Rule 904:

 (A) the Owner is not a distributor of the Capital Securities, an affiliate of the Depositor or the Trust or any such distributor or a
person acting on behalf of any of the foregoing; 
 (B) the offer of the Specified Securities was not made to a person in the United States;

 (C) either: 
  

	 	(i)	at the time the buy order was originated, the Transferee was outside the United States or the Owner and any person acting on its behalf reasonably believed that the Transferee was
outside the United States, or 

  

	 	(ii)	the transaction is being executed in, on or through the facilities of the Eurobond market, as regulated by the Association of International Bond Dealers, or another designated
offshore securities market and neither the Owner nor any person acting on its behalf knows that the transaction has been prearranged with a buyer in the United States; 

 (D) no directed selling efforts within the meaning of Rule 902 of Regulation S have been made in the United States by or on behalf of the Owner or any
affiliate thereof; and 
  

 - B-2 - 

 (E) the transaction is not part of a plan or scheme to evade the registration requirements of the
Securities Act. 
 3. Rule 144 Transfers. If the transfer is being effected pursuant to Rule 144: 
 (A) the transfer is occurring after a holding period of at least one year (computed in accordance with paragraph (d) of Rule 144 or such shorter time
as may be provided therein) has elapsed since the date the Specified Securities were acquired from the Depositor or the Trust or from an affiliate (as such term is defined in Rule 144) of the Depositor or the Trust, with the full amount of the
purchase price paid at the date of purchase, whichever is later, and is being effected in accordance with the applicable amount, manner of sale and notice requirements of paragraphs (c), (e), (f) and (h) of Rule 144; or 
 (B) the transfer is occurring after a holding period of at least two years (or such shorter time as may be provided in Rule 144(k) has elapsed since the
date the Specified Securities were acquired from the Depositor or the Trust or from an affiliate (as such term is defined in Rule 144) of the Depositor or the Trust, with the full amount of the purchase price paid at the date of purchase, whichever
is later, and the Owner is not, and during the preceding three months has not been, an affiliate of the Depositor or the Trust. 
 4.
Other Transfers. If the Owner seeks to make a transfer in reliance on any other exemption under the Securities Act, it shall attach hereto a letter stating the exemption relied upon and the facts under which such exemption is available for the
requested transfer, and shall attach an opinion of counsel satisfactory to the Depositor stating that such exemption is available and is being properly used. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Depositor, the Trust and the Holders. 
  

							
	 Dated:
                    
	 		 	  

		 		 	(Print the name of the Undersigned, as such term is defined in the second paragraph of this certificate.)
				
		 		 	By:	  	  

		 		 	Title:	  	  

		 		 	Name:	  	  

			
		 		 	(If the Undersigned is a corporation, partnership, fiduciary or entity, the correct name of the entity, and the name and title of the person signing on behalf of the Undersigned
must be stated.)

  

 - B-3 - 

 EXHIBIT C 
 FORM OF COMMON SECURITIES CERTIFICATE 
  

 - C-1 - 

 EXHIBIT D 
 FORM OF CAPITAL SECURITIES CERTIFICATE 
  

 - D-1 - 

 EXHIBIT E 
 FORM OF PLACEMENT AGREEMENT 
  

 - E-1 -Junior Subordinated Indenture

 Exhibit 4.15 
 JUNIOR SUBORDINATED INDENTURE 
 Between 
 GAINSCO, INC. 
 (as Company)

 and 
 U.S. BANK
NATIONAL ASSOCIATION 
 (as Trustee) 
 dated as of December 21, 2006 

 GAINSCO STATUTORY TRUST II 
 Certain Sections of this Junior Subordinated Indenture relating 
 to Sections 310 through
318 of the 
 Trust Indenture Act of 1939: 
  

					
	 Trust Indenture
 Act Section
	  	 Junior Subordinated
 Indenture Section

	 Section 310
	  	(a)(1)	  	6.9
		  	(a)(2)	  	6.9
		  	(a)(3)	  	Not Applicable
		  	(a)(4)	  	Not Applicable
		  	(a)(5)	  	6.9
		  	(b)	  	6.8, 6.10
	 Section 311
	  	(a)	  	6.13
		  	(b)	  	6.13
		  	(b)(2)	  	7.3(a)
	 Section 312
	  	(a)	  	7.1, 7.2(a)
		  	(b)	  	7.2(b)
		  	(c)	  	7.2(c)
	 Section 313
	  	(a)	  	7.3(a)
		  	(a)(4)	  	7.3(a)
		  	(b)	  	7.3(b)
		  	(c)	  	7.3(a)
		  	(d)	  	7.3(c)
	 Section 314
	  	(a)	  	7.4
		  	(b)	  	7.4
		  	(c)(1)	  	1.2
		  	(c)(2)	  	1.2
		  	(c)(3)	  	Not Applicable
		  	(e)	  	1.2
	 Section 315
	  	(a)	  	6.1(a)
		  	(b)	  	6.2, 7.3
		  	(c)	  	6.1(b)
		  	(d)	  	6.1(c)
		  	(e)	  	5.14
	 Section 316
	  	(a)	  	5.12
		  	(a)(1)(A)	  	5.12
		  	(a)(1)(B)	  	5.13
		  	(a)(2)	  	Not Applicable
		  	(b)	  	5.8
		  	(c)	  	1.4(f)
	 Section 317
	  	(a)(1)	  	5.3
		  	(a)(2)	  	5.4

  

 - i - 

					
	 	  	(b)	  	10.3
	 Section 318
	  	(a)	  	1.7

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

 

 - ii - 

 TABLE OF CONTENTS 
  

					
	 ARTICLE I
	  	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  	1
			
	 SECTION 1.1.
	  	Definitions	  	1
	 SECTION 1.2.
	  	Compliance Certificate and Opinions	  	11
	 SECTION 1.3.
	  	Forms of Documents Delivered to Trustee	  	11
	 SECTION 1.4.
	  	Acts of Holders	  	12
	 SECTION 1.5.
	  	Notices, Etc. to Trustee and Company	  	14
	 SECTION 1.6.
	  	Notice to Holders; Waiver	  	14
	 SECTION 1.7.
	  	Conflict with Trust Indenture Act	  	15
	 SECTION 1.8.
	  	Effect of Headings and Table of Contents	  	15
	 SECTION 1.9.
	  	Successors and Assigns	  	15
	 SECTION 1.10.
	  	Separability Clause	  	15
	 SECTION 1.11.
	  	Benefits of Indenture	  	15
	 SECTION 1.12.
	  	Governing Law	  	15
	 SECTION 1.13.
	  	Non-Business Days	  	16
			
	 ARTICLE II
	  	SECURITY FORMS	  	16
			
	 SECTION 2.1.
	  	Forms Generally	  	16
	 SECTION 2.2.
	  	Form of Face of Security	  	17
	 SECTION 2.3.
	  	Additional Provisions Required in Global Security	  	17
	 SECTION 2.4.
	  	Form of Trustee’s Certificate of Authentication	  	17
			
	 ARTICLE III
	  	THE SECURITIES	  	18
			
	 SECTION 3.1.
	  	Title and Terms	  	18
	 SECTION 3.2.
	  	Denominations	  	21
	 SECTION 3.3.
	  	Execution, Authentication, Delivery and Dating	  	21
	 SECTION 3.4.
	  	Temporary Securities	  	22
	 SECTION 3.5.
	  	Global Securities	  	23
	 SECTION 3.6.
	  	Registration, Transfer and Exchange Generally; Certain Transfers and Exchanges	  	24
	 SECTION 3.7.
	  	Mutilated, Lost and Stolen Securities	  	26
	 SECTION 3.8.
	  	Payment of Interest and Additional Interest; Interest Rights Preserved	  	27
	 SECTION 3.9.
	  	Persons Deemed Owners	  	28
	 SECTION 3.10.
	  	Cancellation	  	29
	 SECTION 3.11.
	  	Computation of Interest	  	29
	 SECTION 3.12.
	  	Deferrals of Interest Payment Dates	  	29
	 SECTION 3.13.
	  	Right of Set-Off	  	31
	 SECTION 3.14.
	  	Agreed Tax Treatment	  	31
	 SECTION 3.15.
	  	Shortening or Extension of Stated Maturity	  	31
	 SECTION 3.16.
	  	CUSIP Numbers	  	31

  

 - iii - 

					
	 ARTICLE IV
	  	SATISFACTION AND DISCHARGE	  	31
			
	 SECTION 4.1.
	  	Satisfaction and Discharge of Indenture	  	31
	 SECTION 4.2
	  	Application of Trust Money	  	33
			
	 ARTICLE V
	  	REMEDIES	  	33
			
	 SECTION 5.1.
	  	Events of Default	  	33
	 SECTION 5.2.
	  	Acceleration of Maturity; Rescission and Annulment	  	34
	 SECTION 5.3.
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	36
	 SECTION 5.4.
	  	Trustee May File Proofs of Claim	  	36
	 SECTION 5.5.
	  	Trustee May Enforce Claim Without Possession of Securities	  	37
	 SECTION 5.6
	  	Application of Money Collected	  	37
	 SECTION 5.7
	  	Limitation on Suits	  	38
	 SECTION 5.8.
	  	Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Capital Securities	  	39
	 SECTION 5.9.
	  	Restoration of Rights and Remedies	  	39
	 SECTION 5.10.
	  	Rights and Remedies Cumulative	  	39
	 SECTION 5.11.
	  	Delay or Omission Not Waiver	  	39
	 SECTION 5.12.
	  	Control by Holders	  	40
	 SECTION 5.13.
	  	Waiver of Past Defaults	  	40
	 SECTION 5.14.
	  	Undertaking for Costs	  	41
	 SECTION 5.15.
	  	Waiver of Usury, Stay or Extension Laws	  	41
			
	 ARTICLE VI
	  	THE TRUSTEE	  	42
			
	 SECTION 6.1.
	  	Certain Duties and Responsibilities	  	42
	 SECTION 6.2.
	  	Notice of Defaults	  	43
	 SECTION 6.3.
	  	Certain Rights of Trustee	  	43
	 SECTION 6.4.
	  	Not Responsible for Recitals or Issuance of Securities	  	44
	 SECTION 6.5.
	  	May Hold Securities	  	44
	 SECTION 6.6.
	  	Money Held in Trust	  	44
	 SECTION 6.7.
	  	Compensation and Reimbursement	  	44
	 SECTION 6.8.
	  	Disqualification; Conflicting Interests	  	45
	 SECTION 6.9.
	  	Corporate Trustee Required; Eligibility	  	46
	 SECTION 6.10.
	  	Resignation and Removal; Appointment of Successor	  	46
	 SECTION 6.11.
	  	Acceptance of Appointment by Successor	  	48
	 SECTION 6.12.
	  	Merger, Conversion, Consolidation or Succession to Business	  	49
	 SECTION 6.13.
	  	Preferential Collection of Claims Against Company	  	49
	 SECTION 6.14.
	  	Appointment of Authenticating Agent	  	49
			
	 ARTICLE VII
	  	HOLDER’S LISTS AND REPORTS BY TRUSTEE, PAYING AGENT AND COMPANY	  	51
			
	 SECTION 7.1.
	  	Company to Furnish Trustee Names and Addresses of Holders	  	51
	 SECTION 7.2.
	  	Preservation of Information; Communications to Holders	  	51

  

 - iv - 

					
	 SECTION 7.3.
	  	Reports by Trustee and Paying Agent	  	52
	 SECTION 7.4.
	  	Reports by Company	  	52
			
	 ARTICLE VIII
	  	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  	53
			
	 SECTION 8.1.
	  	Company May Consolidate, Etc., Only on Certain Terms	  	53
	 SECTION 8.2.
	  	Successor Company Substituted	  	53
			
	 ARTICLE IX
	  	SUPPLEMENTAL INDENTURES	  	54
			
	 SECTION 9.1.
	  	Supplemental Indentures Without Consent of Holders	  	54
	 SECTION 9.2.
	  	Supplemental Indentures with Consent of Holders	  	55
	 SECTION 9.3.
	  	Execution of Supplemental Indentures	  	57
	 SECTION 9.4.
	  	Effect of Supplemental Indentures	  	57
	 SECTION 9.5.
	  	Conformity with Trust Indenture Act	  	57
	 SECTION 9.6.
	  	Reference in Securities to Supplemental Indentures	  	57
			
	 ARTICLE X
	  	COVENANTS	  	57
			
	 SECTION 10.1.
	  	Payment of Principal, Premium and Interest	  	57
	 SECTION 10.2.
	  	Maintenance of Office or Agency	  	58
	 SECTION 10.3.
	  	Money for Security Payments to be Held in Trust	  	58
	 SECTION 10.4.
	  	Statement as to Compliance	  	59
	 SECTION 10.5.
	  	Waiver of Certain Covenants	  	60
	 SECTION 10.6.
	  	Additional Sums	  	60
	 SECTION 10.7.
	  	Additional Covenants	  	60
	 SECTION 10.8.
	  	Furnishing Information	  	62
			
	 ARTICLE XI
	  	REDEMPTION OF SECURITIES	  	62
			
	 SECTION 11.1.
	  	Applicability of This Article	  	62
	 SECTION 11.2.
	  	Election to Redeem; Notice to Trustee	  	62
	 SECTION 11.3.
	  	Selection of Securities to be Redeemed	  	63
	 SECTION 11.4.
	  	Notice of Redemption	  	63
	 SECTION 11.5.
	  	Deposit of Redemption Price	  	64
	 SECTION 11.6.
	  	Payment of Securities Called for Redemption	  	64
	 SECTION 11.7.
	  	Right of Redemption of Securities Initially Issued to an Issuer Trust	  	65
			
	 ARTICLE XII
	  	SINKING FUNDS	  	65
			
	 ARTICLE XIII
	  	SUBORDINATION OF SECURITIES	  	66
			
	 SECTION 13.1.
	  	Securities Subordinate to Senior Indebtedness	  	66
	 SECTION 13.2.
	  	No Payment When Senior Indebtedness in Default; Payment Over of Proceeds Upon Dissolution, Etc.	  	66

  

 - v - 

					
	SECTION 13.3.	  	Payment Permitted If No Default	  	68
	 SECTION 13.4.
	  	Subrogation to Rights of Holders of Senior Indebtedness; Etc.	  	68
	 SECTION 13.5.
	  	Provisions Solely to Define Relative Rights	  	69
	 SECTION 13.6.
	  	Trustee to Effectuate Subordination	  	69
	 SECTION 13.7.
	  	No Waiver of Subordination Provisions	  	69
	 SECTION 13.8.
	  	Notice to Trustee	  	70
	 SECTION 13.9.
	  	Reliance on Judicial Order or Certificate of Liquidating Agent	  	71
	 SECTION 13.10.
	  	Trustee Not Fiduciary for Holders of Senior Indebtedness	  	71
	 SECTION 13.11.
	  	Rights of Trustee as Holder of Senior Indebtedness; Preservation of Trustee’s Rights	  	71
	 SECTION 13.12.
	  	Article Applicable to Paying Agents	  	71
	 SECTION 13.13.
	  	Certain Conversions or Exchanges Deemed Payment	  	72
			
	 EXHIBIT A.
	  	FORM OF DEBENTURE	  	A-1
			
	 EXHIBIT B.
	  	FORM OF RESTRICTED SECURITIES CERTIFICATE	  	B-1

  

 - vi - 

 JUNIOR SUBORDINATED INDENTURE 
 THIS JUNIOR SUBORDINATED INDENTURE, dated as of December 21, 2006, is between GAINSCO, INC.,
a Texas corporation, having its principal office at 3333 Lee Parkway, Suite 1200, Dallas, Texas 75219, and U.S. BANK NATIONAL ASSOCIATION, as Trustee, having its principal office at One Federal Street, 3rd Floor, Boston, Massachusetts 02110 (the “Trustee”). 
 RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to
provide for the issuance from time to time of its unsecured junior subordinated debt securities in one or more series (hereinafter called the “Securities”) of substantially the tenor hereinafter provided, including Securities issued
to evidence loans made to the Company from the proceeds from the issuance from time to time by one or more statutory trusts (each an “Issuer Trust”) of undivided preferred beneficial interests in the assets of such Issuer Trusts,
which shall be issued in book entry form, registered in the name of Cede & Co., as nominee on behalf of the Depository Trust Company, without coupons, and held by the Trustee as custodian for the Depository Trust Company (the
“Capital Securities”), and undivided common interests in the assets of such Issuer Trusts (the “Common Securities” and, collectively with the Capital Securities, the “Trust Securities”), and to
provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered; and 
 All things necessary to make
this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 NOW THEREFORE, THIS INDENTURE WITNESSETH:

 For and in consideration of the premises and the purchase of the Securities by the Holders (as such term is defined in Section 1.1
hereof) thereof, the parties hereto, intending to be legally bound, mutually covenant and agree, for the equal and proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 
 ARTICLE I 
 DEFINITIONS AND OTHER
PROVISIONS 
 OF GENERAL APPLICATION 
 SECTION 1.1. Definitions. 
 For all purposes of this Indenture, except as otherwise expressly provided or unless the context
otherwise requires: 
 (1) The terms defined in this Article have the meanings assigned to them in this Article, and include the plural as
well as the singular; 
  

 - 1 - 

 (2) All other terms used herein that are defined in the Trust Indenture Act, either directly or by
reference therein, have the meanings assigned to them therein; 
 (3) The words “include,” “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”; 
 (4) All accounting terms not otherwise
defined herein have the meanings assigned to them in accordance with generally accepted accounting principles as in effect at the time of determination; 
 (5) Whenever the context may require, any gender shall be deemed to include the other; 
 (6) Unless the
context otherwise requires, any reference to an “Article” or a “Section” refers to an Article or a Section, as the case may be, of this Indenture; and 
 (7) The words “hereby,” “herein,” “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or
other subdivision. 
 “Act” when used with respect to any Holder has the meaning specified in Section 1.4(a).

 “Additional Interest” means the interest, if any, that shall accrue on any interest on the Securities of any series the
payment of which has not been made on the applicable Interest Payment Date and which shall accrue at the rate per annum specified or determined as specified in such Security, to the extent permitted by applicable law. 
 “Additional Sums” has the meaning specified in Section 10.6. 
 “Additional Taxes” means any additional taxes, duties and other governmental charges to which an Issuer Trust has become subject from
time to time as a result of a Tax Event. 
 “Administrator” means, in respect of any Issuer Trust, each Person appointed in
accordance with the related Trust Agreement, solely in such Person’s capacity as Administrator of such Issuer Trust and not in such Person’s individual capacity, or any successor Administrator appointed as therein provided. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 
 “Agent Member” means any member of, or participant in, the Depositary. 
  

 - 2 - 

 “Applicable Procedures” means, with respect to any transfer or transaction involving a
Global Security or beneficial interest therein, the rules and procedures of the Depositary for such Global Security, in each case to the extent applicable to such transaction and as in effect from time to time. 
 “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 6.14 to act on behalf of the Trustee to
authenticate Securities of one or more series. 
 “Bankruptcy Code” means the United States Bankruptcy Code, 11 U.S.C. 101,
et seq., and any successor provisions thereto, in each case as may be amended from time to time. 
 “Board of
Directors” means the board of directors of the Company or the Executive Committee of the board of directors of the Company (or any other committee of the board of directors of the Company performing similar functions) or, for purposes of
this Indenture, a committee designated by the board of directors of the Company (or such committee), comprised of two or more members of the board of directors of the Company or officers of the Company, or both. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or any Assistant Secretary of the Company to have been duly
adopted by the Board of Directors, or such committee of the Board of Directors or officers of the Company to which authority to act on behalf of the Board of Directors has been delegated, and to be in full force and effect on the date of such
certification, and delivered to the Trustee. 
 “Business Day” means any day other than (i) a Saturday or Sunday,
(ii) a day on which banking institutions in the City of New York, New York or the City of Boston, Massachusetts are authorized or required by law or executive order to remain closed, or (iii) a day on which the Corporate Trust Office of
the Trustee, or, with respect to the Securities of a series initially issued to an Issuer Trust, the “Corporate Trust Office” (as defined in the related Trust Agreement) of the Property Trustee under the related Trust Agreement, is closed
for business. 
 “Capital Securities” has the meaning specified in the first recital of this Indenture. 
 “Clearing Agency” means an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act.

 “Clearing Agency Participant” means a broker, dealer, bank, other financial institution or other Person for whom from
time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Commission” means the United
States Securities and Exchange Commission, or any successor thereto. 
 “Common Securities” has the meaning specified in the
first recital of this Indenture. 
  

 - 3 - 

 “Common Stock” means the Company’s common stock, $0.01 par value per share.

 “Company” means the Person named as the “Company” in the first paragraph of this instrument until a
successor entity shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor entity. 
 “Company Request” and “Company Order” mean, respectively, the written request or order signed in the name of the
Company by its Chairman of the Board of Directors, any Vice Chairman of the Board of Directors, its President, Chief Executive Officer or a Senior Vice President or Vice President, and by its Chief Financial Officer, its Treasurer or an Assistant
Treasurer, or its Secretary or an Assistant Secretary, and delivered to the Trustee. 
 “Corporate Trust Office” means the
principal office of the Trustee at which at any particular time its corporate trust business shall be administered. 
 “Creditor” has the meaning specified in Section 6.7(c). 
 “Defaulted Interest” has the
meaning specified in Section 3.8. 
 “Depositary” means, with respect to the Securities of any series issuable or
issued in whole or in part in the form of one or more Global Securities, the Person designated as Depositary by the Company pursuant to Section 3.1 with respect to such series (or any successor thereto). 
 “Depositor” means GAINSCO, INC., a Texas corporation. 
 “Discount Security” means any security that provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to
Section 5.2. 
 “Dollar” or “$” means the currency of the United States of America that, as at the
time of payment, is legal tender for the payment of public and private debts. 
 “Entity” includes a bank, corporation,
partnership, association, company, limited liability company, joint-stock company or business trust. 
 “Event of Default,”
unless otherwise specified in the supplemental indenture creating a series of Securities, has the meaning specified in Article V. 
 “Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended from time to time. 
 “Expiration Date” has the meaning specified in Section 1.4(f). 
 “Extension
Period” has the meaning specified in Section 3.12. 
  

 - 4 - 

 “Global Security” means a Security in the form prescribed in Article II evidencing all
or part of a series of Securities, issued to the Depositary or its nominee for such series, and registered in the name of such Depositary or its nominee. 
 “Guarantee” means, with respect to any Issuer Trust, the obligations of the Company under the Guarantee Agreement. 
 “Guarantee Agreement” means any Guarantee Agreement executed by the Company for the benefit of the Holders of the Capital Securities issued by each Issuer Trust, as modified, amended or supplemented
from time to time. 
 “Holder” means a Person in whose name a Security is registered in the Securities Register. 

“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more
indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of each particular series of Securities established as contemplated by Section 3.1. 
 “Interest Payment Date” means, as to each series of Securities, the Stated Maturity of an installment of interest on such Securities.

 “Investment Company Act” means the Investment Company Act of 1940 and any statute successor thereto, in each case as
amended from time to time. 
 “Investment Company Event” means the receipt by an Issuer Trust of an Opinion of Counsel (as
defined in the relevant Trust Agreement) experienced in such matters to the effect that, as a result of the occurrence of a change in law or regulation or a written change (including any announced prospective change) in interpretation or application
of law or regulation by any legislative body, court, governmental agency or regulatory authority, there is more than an insubstantial risk that such Issuer Trust is or will be considered an “investment company” that is required to be
registered under the Investment Company Act, which change or prospective change becomes effective or would become effective, as the case may be, on or after the date of the issuance of the Capital Securities of such Issuer Trust. 
 “Issuer Trust” has the meaning specified in the first recital of this Indenture. 
 “Liquidation Amount” shall have the meaning assigned in the applicable related Trust Agreement. 
 “Maturity” when used with respect to any Security means the date on which the principal of such Security becomes due and payable as
therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
 “Notice of Default” means a written notice of the kind specified in Section 5.1(3). 
  

 - 5 - 

 “Officers’ Certificate” means a certificate signed by the Chairman of the Board of
Directors, Vice Chairman of the Board of Directors, Chief Executive Officer, the President or any Vice President, and by the Chief Financial Officer, the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Company, and
delivered to the party provided herein. Any Officers’ Certificate delivered with respect to compliance with a condition or covenant provided for in this Indenture (other than the certificates provided pursuant to Section 10.4) shall
include: 
 (a) a statement by each officer signing the Officers’ Certificate that such officer has read the covenant or condition and
the definitions relating thereto; 
 (b) a brief statement of the nature and scope of the examination or investigation undertaken by such
officer in rendering the Officers’ Certificate; 
 (c) a statement that such officer has made such examination or investigation as, in
such officer’s opinion, is necessary to enable such officer to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (d) a statement as to whether, in the opinion of each such officer, such condition or covenant has been complied with. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for or an employee of the Company or any Affiliate of the Company. 
 “Original Issue Date” means the date of issuance specified as such in each Security. 
 “Outstanding” means, when used in reference to any Securities, as of the date of determination, all Securities theretofore authenticated
and delivered under this Indenture, except: 
 (i) Securities theretofore canceled by the Trustee or delivered to the Trustee for
cancellation; 
 (ii) Securities for whose payment money in the necessary amount has been theretofore deposited with the Trustee or any Paying
Agent in trust for the Holders of such Securities; and 
 (iii) Securities in substitution for or in lieu of which other Securities have been
authenticated and delivered or that have been paid pursuant to Section 3.6, unless proof satisfactory to the Trustee is presented that any such Securities are held by Holders in whose hands such Securities are valid, binding and legal
obligations of the Company; provided, however, in determining whether the Holders of the requisite principal amount of Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder,
Securities owned by the Company or any other obligor upon the Securities or any Affiliate 

  

 - 6 - 

 
of the Company or such other obligor (other than the Issuer Trust to which Securities of the applicable series were initially issued) shall be disregarded
and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities that the Trustee knows to be so owned
shall be so disregarded. Securities so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and
that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor (other than such Issuer Trust). Upon the written request of the Trustee, the Company shall furnish to the Trustee
promptly an Officers’ Certificate listing and identifying all Securities, if any, known by the Company to be owned or held by or for the account of the Company, or any other obligor on the Securities or any Affiliate of the Company or such
obligor (other than, for the avoidance of doubt, such Issuer Trust), and, subject to the provisions of Section 6.1, the Trustee shall be entitled to accept such Officers’ Certificate as conclusive evidence of the facts therein set forth
and of the fact that all Securities not listed therein are Outstanding for the purpose of any such determination. 
 “Paying
Agent” means the Trustee or any Person authorized by the Company to pay the principal of (or premium, if any) or interest on, or other amounts in respect of any Securities on behalf of the Company. 
 “Person” means any individual, corporation, partnership, limited liability company, joint venture, trust, unincorporated organization or
government or any agency or political subdivision thereof. 
 “Place of Payment” means, with respect to the Securities of
any series, the place or places where the principal of (and premium, if any) and interest on the Securities of such series are payable pursuant to Section 3.1. 
 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security. For the purposes of this
definition, any security authenticated and delivered under Section 3.7 in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Principal Subsidiary” means (i) either of (A) General Agents Insurance Company of America, Inc., an Oklahoma insurance
company, and (B) MGA Insurance Company, Inc., a Texas insurance company, (ii) any other subsidiary of the Company the consolidated assets of which constitute 20% or more of the consolidated assets of the Company and its consolidated
subsidiaries, (iii) any other subsidiary designated as a Principal Subsidiary pursuant to a Board Resolution and set forth in an Officers’ Certificate delivered to the Trustee, and (iv) any subsidiary of the Company that owns,
directly or indirectly, any voting securities, or options, warrants or rights to subscribe for or purchase voting securities, of any Principal Subsidiary 

  

 - 7 - 

 
under clause (i), (ii), (iii) or (iv), and in the case of clause (i), (ii), (iii), (iv) or (v), their respective successors (whether by
consolidation, merger, conversion, transfer of substantially all their assets and business or otherwise) so long as any such successor is a banking subsidiary (in the case of clause (i), (ii), (iii) or (iv) or a subsidiary (in the case of
clause (v)) of the Company. 
 “Proceeding” has the meaning specified in Section 13.2. 
 “Property Trustee” means, with respect to any Issuer Trust, the Person identified as the “Property Trustee” in the related
Trust Agreement, solely in its capacity as Property Trustee of such Issuer Trust under such Trust Agreement and not in its individual capacity, or its successor in interest in such capacity, or any successor property trustee appointed as therein
provided. 
 “Redemption Date,” when used with respect to any Security to be redeemed, means the date fixed for such
redemption by or pursuant to this Indenture or the terms of such Security. 
 “Redemption Price,” when used with respect to
any Security to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture or the terms of such Security. 
 “Regular Record Date” for the interest payable on any Interest Payment Date with respect to the Securities of a series means, unless otherwise provided pursuant to Section 3.1 with respect to Securities of such series,
the close of business on the fifteenth day prior to each Interest Payment Date (whether or not a Business Day). 
 “Responsible
Officer,” when used with respect to the Trustee means any officer assigned to the Corporate Trust Office, including any managing director, vice president, principal, assistant vice president, assistant treasurer, assistant secretary or any
other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and having direct responsibility for the administration of this Indenture, and also, with respect to a particular
matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 
 “Restricted Security” means all Securities including those represented by the debenture attached hereto as Exhibit A or those represented by the Restricted Securities Certificate attached hereto as Exhibit B.

 “Restricted Securities Certificate” means a certificate substantially in the form set forth in Exhibit B.

 “Rights Plan” means any plan of the Company providing for the issuance by the Company to all holders of its Common Stock,
of rights entitling the holders thereof to subscribe for or purchase shares of any class or series of capital stock of the Company which rights (i) are deemed to be transferred with such shares of such Common Stock, (ii) are not
exercisable, and (iii) are also issued in respect of future issuances of such Common Stock, in each case until the occurrence of a specified event or events. 
  

 - 8 - 

 “Securities” or “Security” means any debt securities or debt security,
as the case may be, authenticated and delivered under this Indenture. 
 “Securities Act” means the Securities Act of 1933
and any successor statute thereto, in each case as modified, amended or supplemented from time to time. 
 “Securities
Register” and “Securities Registrar” have the respective meanings specified in Section 3.6(a). 
 “Senior Indebtedness” means, whether recourse is to all or a portion of the assets of the Company and whether or not contingent: (i) every obligation of the Company for borrowed money; (ii) every obligation of the
Company evidenced by bonds, debentures, notes and related credit agreements or other similar instruments, including obligations incurred in connection with the acquisition of property, assets or businesses; (iii) every reimbursement obligation
of the Company with respect to letters of credit, bankers’ acceptances or similar facilities issued for the account of the Company; (iv) every obligation of the Company issued or assumed as the deferred purchase price of property or
services (but excluding trade accounts payable or accrued liabilities arising in the ordinary course of business); (v) every capital lease obligation of the Company; (vi) every obligation of the Company for claims (as defined in
Section 101(4) of the Bankruptcy Code) in respect of derivative products such as interest and foreign exchange rate contracts, commodity contracts, swaps, options, caps, collars and similar arrangements; (vii) every obligation of the type
referred to in clauses (i) through (vi) of another Person the payment of which the Company has guaranteed or is responsible or liable, directly or indirectly, as obligor or otherwise. “Senior Indebtedness” excludes (i) any
obligations which, by their terms, are expressly stated to rank pari passu in right of payment with, or to not be superior in right of payment to, the Securities, (ii) any indebtedness of the Company which when incurred and without
respect to any election under Section 1111(b) of the Bankruptcy Code was without recourse to the Company, (iii) any indebtedness of the Company to any of its subsidiaries, (iv) indebtedness to any executive officer or director of the
Company for funds borrowed pursuant to any bond, debenture, note or other similar instrument, or (v) any indebtedness in respect of debt securities issued to any trust, or a trustee of such trust, partnership or other entity affiliated with the
Company that is a financing entity of the Company in connection with the issuance of such financing entity of securities that are similar to the Capital Securities. 
 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.8. 
 “Stated Maturity,” when used with respect to any Security or any installment of principal thereof or interest thereon, means the date
specified pursuant to the terms of such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable, as such date may, in the case of such principal, be shortened or extended as
provided pursuant to the terms of such Security and this Indenture. 
 “Subsidiary” means an entity more than 50% of the
outstanding voting stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For purposes of this definition, “voting stock” means stock that
ordinarily has voting power for the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 
  

 - 9 - 

 “Successor Security” of any particular Security means every Security issued after, and
evidencing all or a portion of the same debt as that evidenced by, such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.7 in exchange for or in lieu of a mutilated,
destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Tax Event” means the receipt by an Issuer Trust of an Opinion of Counsel (as defined in the relevant Trust Agreement) experienced in such matters to the effect that, as a result of any amendment to, or change (including
any announced prospective change) in, the laws (or any regulations thereunder) of the United States or any political subdivision or taxing authority thereof or therein, or as a result of any official or administrative pronouncement or action or
judicial decision interpreting or applying such laws or regulations, which amendment or change is effective or which pronouncement or decision is announced on or after the date of issuance of the Capital Securities of such Issuer Trust (including,
without limitation, any of the foregoing arising with respect to, or resulting from, any proposal, proceeding or other action commencing on or before such date), there is more than an insubstantial risk that (i) such Issuer Trust is, or will be
within 90 days of the delivery of such Opinion of Counsel, subject to United States Federal income tax with respect to income received or accrued on the corresponding series of Securities issued by the Company to such Issuer Trust,
(ii) interest payable by the Company on such corresponding series of Securities is not, or within 90 days of the delivery of such Opinion of Counsel will not be, deductible by the Company, in whole or in part, for United States Federal income
tax purposes, or (iii) such Issuer Trust is, or will be within 90 days of the delivery of such Opinion of Counsel, subject to more than a de minimis amount of other taxes, duties or other governmental charges. 
 “Trust Agreement” means, with respect to any Issuer Trust, the trust agreement or other governing instrument of such Issuer Trust, as
amended from time to time. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this
Indenture, solely in its capacity as such and not in its individual capacity, until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each
Person who is then a Trustee hereunder and, if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939 and any successor statute thereto, in each case as modified, amended or
supplemented from time to time. 
 “Trust Securities” has the meaning specified in the first recital of this Indenture.

 “Vice President,” when used with respect to the Company, means any duly appointed vice president, whether or not
designated by a number or a word or words added before or after the title “vice president.” 
  

 - 10 - 

 SECTION 1.2. Compliance Certificate and Opinions. 
 Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the
Trustee an Officers’ Certificate stating that all conditions precedent (including covenants, the compliance with which constitutes a condition precedent), if any, provided for in this Indenture relating to the proposed action have been complied
with and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent (including covenants compliance with which constitutes a condition precedent), if any, have been complied with, except that in the case of any
such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished.

 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than the
certificates provided pursuant to Section 10.4) shall include: 
  

	 	(1)	a statement by each individual signing such certificate or opinion that such individual has read such covenant or condition and the definitions herein relating thereto;

  

	 	(2)	a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions of such individual contained in such certificate or opinion
are based; 

  

	 	(3)	a statement that, in the opinion of such individual, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to
whether or not such covenant or condition has been complied with; and 

  

	 	(4)	a statement as to whether, in the opinion of such individual, such condition or covenant has been complied with. 

 SECTION 1.3. Forms of Documents Delivered to Trustee. 
 In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that
they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents. 
 Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or 

  

 - 11 - 

 
representations with respect to matters upon which his or her certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel may
be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company,
unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions, or other
instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 SECTION 1.4. Acts of Holders. 
 (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given to or taken by Holders
may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments is or are delivered to the Trustee, and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes
referred to as an “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and
(subject to Section 6.1) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 
 (b) The
fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of
deeds, certifying that the individual signing such instrument or writing acknowledged to him or her the execution thereof. Where such execution is by a Person acting in other than his or her individual capacity, such certificate or affidavit shall
also constitute sufficient proof of his or her authority. 
 (c) The fact and date of the execution by any Person of any such instrument or
writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient and in accordance with such reasonable rules as the Trustee may determine. 
 (d) The ownership of Securities shall be proved conclusively by the Securities Register. 
 (e) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Security shall bind every future Holder
of the same Security and the Holder of every Security issued upon the transfer thereof or in exchange therefor or in lieu thereof in respect of anything done or suffered to be done by the Trustee or the Company in reliance thereon, whether or not
notation of such action is made upon such Security. 
  

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 (f) The Company may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Securities of
such series, provided that the Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to in the next succeeding
paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders
remain Holders after such record date, provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date (as defined below) by Holders of the requisite principal amount of Outstanding Securities of
such series on such record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date previously has been set pursuant to this paragraph (whereupon the record date
previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding
Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed action by Holders and the
applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 1.6. 
 The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to join in the giving or making of (i) any Notice of Default, (ii) any
declaration of acceleration referred to in Section 5.2, (iii) any request to institute proceedings referred to in Section 5.7(3), or (iv) any direction referred to in Section 5.12, in each case with respect to Securities of
such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether
or not such Holders remain Holders after such record date, provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of
such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date
previously set shall automatically and with no action by any Person be cancelled and of no effect) and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding
Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders
and the applicable Expiration Date to be given to the Company in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 1.6. 
 With respect to any record date set pursuant to this Section, the party hereto that sets such record date may designate any day as the
“Expiration Date” and from time to time may change the Expiration Date to any earlier or later day, provided that no such change shall be effective 

  

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unless notice of the proposed new Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in
the manner set forth in Section 1.6 on or prior to the existing Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section, the party hereto that set such record date shall be deemed to
have initially designated the 180th day after such record date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be
later than the 180th day after the applicable record date. 
 (g) Without limiting the foregoing, a Holder entitled hereunder to take any
action hereunder with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all
or any part of such principal amount. 
 SECTION 1.5. Notices, Etc. to Trustee and Company. 
 Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be
made upon, given or furnished to, or filed with, 
 (1) the Trustee by any Holder, any holder of Capital Securities or the Company shall be
sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, or 
 (2) the Company by the Trustee, any Holder, any holder of Capital Securities or the holder of any Senior Indebtedness shall be sufficient for every purpose (except as otherwise provided in Section 5.1) hereunder if in writing and
mailed, first class, postage prepaid, to the Company addressed to it at the address of its principal office specified in the first paragraph of this instrument or at any other address previously furnished in writing to the Trustee by the Company.

 SECTION 1.6. Notice to Holders; Waiver. 
 Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first class postage prepaid, to each Holder affected by such
event, at the address of such Holder as it appears in the Securities Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. If, by reason of the suspension of or irregularities in
regular mail services or for any other reason, it shall be impossible or impracticable to mail notice of any event to Holders when said notice is required to be given pursuant to any provision of this Indenture or of the relevant Securities, then
any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any
notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such
notice, either before or after the 

  

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event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a
condition precedent to the validity of any action taken in reliance upon such waiver. 
 SECTION 1.7. Conflict with Trust Indenture Act. 

If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under such Act to be a part of and
govern this Indenture, the provision of the Trust Indenture Act shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed
to apply to this Indenture as so modified or to be excluded, as the case may be. 
 SECTION 1.8. Effect of Headings and Table of Contents. 

The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
 SECTION 1.9. Successors and Assigns. 
 All covenants
and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
 SECTION 1.10. Separability
Clause. 
 If any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 1.11. Benefits of Indenture. 

Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their successors and
assigns, the holders of Senior Indebtedness, the Holders of the Securities and, to the extent expressly provided in Sections 5.2, 5.7, 5.8, 5.9, 5.11, 5.12, 5.13, 9.1 and 9.2, the holders of Capital Securities, any benefit or any legal or equitable
right, remedy or claim under this Indenture. 
 SECTION 1.12. Governing Law. 
 THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
  

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 SECTION 1.13. Non-Business Days. 
 If any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be a Business Day, then (notwithstanding any other provision of this Indenture or the Securities) payment of interest or
principal (and premium, if any) or other amounts in respect of such Security need not be made on such date, but may be made on the next succeeding Business Day (and no interest shall accrue in respect of the amounts whose payment is so delayed for
the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be, until such next succeeding Business Day), except that, if such Business Day is in the next succeeding calendar year, such payment shall be
made on the immediately preceding Business Day (in each case with the same force and effect as if made on the Interest Payment Date or Redemption Date or at the Stated Maturity). 
 ARTICLE II 
 SECURITY FORMS 
 SECTION 2.1. Forms Generally. 
 The Securities of each
series and the Trustee’s certificate of authentication shall be in substantially the forms set forth in this Article, or in such other form or forms as shall be established by or pursuant to a Board Resolution or in one or more indentures
supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture and may have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with applicable tax laws, banking laws, or the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such securities, as evidenced by their
execution of the Securities. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the
Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 3.3 with respect to the authentication and delivery of such Securities. 
 The Trustee’s certificates of authentication shall be substantially in the form set forth in this Article. 
 The definitive Securities shall be printed, lithographed or engraved or produced by any combination of these methods, if required by any securities
exchange on which the Securities may be listed, on a steel engraved border or steel engraved borders or may be produced in any other manner permitted by the rules of any securities exchange, if any, on which the Securities may be listed, all as
determined by the officers executing such Securities, as evidenced by their execution of such Securities. 
 Securities distributed to
holders of Global Capital Securities (as defined in the applicable Trust Agreement) upon the dissolution of an Issuer Trust shall be distributed in the form of one or more Global Securities registered in the name of a Depositary or its nominee, and
deposited with the Securities Registrar, as custodian for such Depositary, or with such Depositary, for 

  

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credit by the Depositary to the respective accounts of the beneficial owners of the Securities represented thereby (or such other accounts as they may
direct). Securities distributed to holders of Capital Securities other than Global Capital Securities upon the dissolution of an Issuer Trust shall not be issued in the form of a Global Security or any other form intended to facilitate book-entry
trading in beneficial interests in such Securities. 
 SECTION 2.2. Form of Face of Security. The Securities shall be generally in the form of
Exhibit A hereto. 
 SECTION 2.3. Additional Provisions Required in Global Security. 
 Unless otherwise specified as contemplated by Section 3.1, any Global Security issued hereunder shall, in addition to the provisions contained in
Sections 2.1 and 2.2, bear a legend in substantially the following form: 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE
ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY,
EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 SECTION 2.4. Form of Trustee’s Certificate of Authentication.

 The Trustee’s certificate of authentication shall be in substantially the following form: 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

					
	Dated:                     	 	U.S. BANK NATIONAL ASSOCIATION,
not in its individual capacity, but solely as Trustee
			
		 	By:	 	  

		 		 	Authorized signatory

  

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 ARTICLE III 
 THE SECURITIES 
 SECTION 3.1. Title and Terms. 
 The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution and, subject to Section 3.3, set
forth or determined in the manner provided, in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities as a series: 
 (a) the title of the Securities of such series, which shall distinguish the Securities of the series from all other Securities; 
 (b) the limit, if any, upon the aggregate principal amount of the Securities of such series that may be authenticated and delivered under this Indenture
(except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Sections 3.4, 3.5, 3.6, 3.7, 9.6 or 11.6 and except for any Securities that,
pursuant to Section 3.3, are deemed never to have been authenticated and delivered hereunder); provided, however, the authorized aggregate principal amount of such series may be increased above such amount by a Board Resolution to such
effect; 
 (c) the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name that
Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 
 (d)
the Stated Maturity or Maturities on which the principal of the Securities of such series is payable or the method of determination thereof, and any dates on which or circumstances under which, the Company shall have the right to extend or shorten
such Stated Maturity or Maturities; 
 (e) the rate or rates, if any, at which the Securities of such series shall bear interest, if any, the
rate or rates and extent to which Additional Interest, if any, shall be payable with respect to any Securities of such series, the date or dates from which any such interest or Additional Interest shall accrue, the Interest Payment Dates on which
such interest shall be payable, the right, pursuant to Section 3.12 or as otherwise set forth therein, of the Company to defer or extend an Interest Payment Date, and the Regular Record Date for the interest payable on any Interest Payment
Date, or the method by which any of the foregoing shall be determined; 
 (f) the place or places where the principal of (and premium, if
any), interest or Additional Interest on the Securities of such series shall be payable, the place or places where the Securities of such series may be presented for registration of transfer or exchange, any restrictions that may be applicable to
any such transfer or exchange in addition to or in lieu of those set forth herein and the place or places where notices and demands to or upon the Company in respect of the Securities of such series may be made; 
  

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 (g) the period or periods within or the date or dates on which, if any, the price or prices at which and
the terms and conditions upon which the Securities of such series may be redeemed, in whole or in part, at the option of the Company, and if other than by a Board Resolution, the manner in which any election by the Company to redeem such Securities
shall be evidenced; 
 (h) the obligation or the right, if any, of the Company to redeem, repay or purchase the Securities of such series
pursuant to any sinking fund, amortization or analogous provisions, or at the option of a Holder thereof, and the period or periods within which, the price or prices at which, the currency or currencies (including currency unit or units) in which
and the other terms and conditions upon which Securities of the series shall be redeemed, repaid or purchased, in whole or in part, pursuant to such obligation; 
 (i) the denominations in which any Securities of such series shall be issuable, if other than integral multiples of $1,000; 
 (j) if other than Dollars, the currency or currencies (including any currency unit or units) in which the principal of (and premium, if any) and interest and Additional Interest, if any, on the Securities of the
series shall be payable, or in which the Securities of the series shall be denominated and the manner of determining the equivalent thereof in Dollars for purposes of the definition of Outstanding; 
 (k) the additions, modifications or deletions, if any, in the Events of Default or covenants of the Company set forth herein with respect to the
Securities of such series; 
 (l) if other than the principal amount thereof, the portion of the principal amount of Securities of such
series that shall be payable upon declaration of acceleration of the Maturity thereof; 
 (m) if the principal amount payable at the Stated
Maturity of any Securities of the series will not be determinable as of any one or more dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder
or hereunder, including the principal amount thereof which shall be due and payable upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the
manner in which such amount deemed to be the principal amount shall be determined); 
 (n) if applicable, that the Securities of the series,
in whole or in any specified part, shall be defeasible and, if other than by a Board Resolution, the manner in which any election by the Company to defease such Securities shall be evidenced; 
 (o) the additions or changes, if any, to this Indenture with respect to the Securities of such series as shall be necessary to permit or facilitate the
issuance of the Securities of such series in bearer form, registrable or not registrable as to principal, and with or without interest coupons; 
  

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 (p) any index or indices used to determine the amount of payments of principal of and premium, if any, on
the Securities of such series or the manner in which such amounts will be determined; 
 (q) if applicable, that any Securities of the series
shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends that shall be borne by any such Global Security in
addition to or in lieu of that set forth in Section 2.4 and any circumstances in addition to or in lieu of those set forth in Section 3.5 in which any such Global Security may be exchanged in whole or in part for Securities registered, and
any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof; 
 (r) the appointment of any Paying Agent or agents for the Securities of such series; 
 (s) the terms of any right to convert or exchange Securities of such series into any other securities or property of the Company, and the additions or
changes, if any, to this Indenture with respect to the Securities of such series to permit or facilitate such conversion or exchange; 
 (t)
if such Securities are to be issued to an Issuer Trust, the form or forms of the Trust Agreement and Guarantee relating thereto; 
 (u) if
other than as set forth herein, the relative degree, if any, to which the Securities or the series shall be senior to or be subordinated to other series of Securities in right of payment, whether such other series of Securities are Outstanding or
not; 
 (v) any addition to or change in the Events of Default which applies to any Securities of the series and any change in the right of
the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 5.2; 
 (w) any addition to or change in the covenants set forth in Article X which applies to Securities of the series; and 
 (x) any
other terms of the Securities of such series (which terms shall not be inconsistent with the provisions of this Indenture, except as permitted by Section 9.1(3)). 
 All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided herein or in or pursuant to such Board Resolution and set forth, or determined in the
manner provided, in such Officers’ Certificate or in any indenture supplemental hereto. 
  

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 If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy
of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series.

 The Securities shall be subordinated in right of payment to Senior Indebtedness as provided in Article XIII. 
 SECTION 3.2 Denominations. 
 The Securities of
each series shall be in registered form without coupons and shall be issuable in integral multiples of $1,000, unless otherwise specified as contemplated by Section 3.1(i). 
 SECTION 3.3. Execution, Authentication, Delivery and Dating. 
 The Securities shall be executed
on behalf of the Company by its Chairman of the Board of Directors, its Vice Chairman of the Board of Directors, its President, its Chief Executive Officer, its Chief Financial Officer or one of its Vice Presidents, under its corporate seal
reproduced or impressed thereon and attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual or facsimile. 
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company,
notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. At any time and from time to time after
the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the
Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If the form or terms of the Securities of the series have been established by or pursuant to one or more Board Resolutions as permitted by Sections 2.1
and 3.1, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 6.1) shall be fully protected in
relying upon, an Opinion of Counsel stating, 
 (1) if the form of such Securities has been established by or pursuant to
Board Resolution as permitted by Section 2.1, that such form has been established in conformity with the provisions of this Indenture; 
 (2) if the terms of such Securities have been established by or pursuant to Board Resolution as permitted by Section 3.1, that such terms have been established in conformity with the provisions of this Indenture;
and 
 (3) that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and
subject to any conditions specified 

  

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in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company enforceable in accordance with their terms, subject to
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. 
 If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this
Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 
 Notwithstanding the provisions of Section 3.1 and the preceding paragraph, if all Securities of a series are not to be originally issued at one
time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to Section 3.1 or the Company Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior to the
authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 
 Each Security shall be dated the date of its authentication. 
 No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Security a certificate of authentication substantially in the form provided for
herein executed by the Trustee by the manual signature of one of its authorized officers or signatories, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and
delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as
provided in Section 3.10, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 
 SECTION 3.4. Temporary Securities. 
 Pending
the preparation of definitive Securities of any series, the Company may execute, and upon receipt of a Company Order the Trustee shall authenticate and deliver, temporary Securities that are printed, lithographed, typewritten, mimeographed or
otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities of such series in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the
officers executing such Securities may determine, as evidenced by their execution of such Securities. 
 If temporary Securities of any
series are issued, the Company will cause definitive Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities, the temporary Securities shall be exchangeable for definitive Securities upon
surrender of the temporary Securities at the office or agency of the Company designated for that purpose without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities, the Company shall execute and the Trustee
shall authenticate and deliver in 

  

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exchange therefor one or more definitive securities of the same series, of any authorized denominations having the same Original Issue Date and Stated
Maturity and having the same terms as such temporary Securities. Until so exchanged, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series.

 SECTION 3.5. Global Securities. 
 (a) Each Global Security issued under this Indenture shall be registered in the name of the Depositary designated by the Company for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or
custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture. 
 (b)
Notwithstanding any other provision in this Indenture, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other
than the Depositary for such Global Security or a nominee thereof unless (i) such Depositary advises the Trustee in writing that such Depositary is no longer willing or able to properly discharge its responsibilities as Depositary with respect
to such Global Security, and the Company is unable to locate a qualified successor, (ii) the Company executes and delivers to the Trustee a Company Order stating that the Company elects to terminate the book-entry system through the Depositary,
or (iii) there shall have occurred and be continuing an Event of Default or any event which after notice or lapse of time or both would be an Event of Default. 
 (c) If any Global Security is to be exchanged for other Securities or cancelled in whole, it shall be surrendered by or on behalf of the Depositary or its nominee to the Securities Registrar for exchange or
cancellation as provided in this Article III. If any Global Security is to be exchanged for other Securities or cancelled in part, or if another Security is to be exchanged in whole or in part for a beneficial interest in any Global Security,
then either (i) such Global Security shall be so surrendered for exchange or cancellation as provided in this Article III or (ii) the principal amount thereof shall be reduced, subject to Section 3.6(b)(iii), or increased by an
amount equal to the portion thereof to be so exchanged or cancelled, or equal to the principal amount of such other Security to be so exchanged for a beneficial interest therein, as the case may be, by means of an appropriate adjustment made on the
records of the Securities Registrar, whereupon the Trustee, in accordance with the Applicable Procedures, shall instruct the Depositary or its authorized representative to make a corresponding adjustment to its records. Upon any such surrender or
adjustment of a Global Security by the Depositary, accompanied by registration instructions, the Trustee shall, subject to Section 3.6(b) and as otherwise provided in this Article III, authenticate and deliver any Securities issuable in
exchange for such Global Security (or any portion thereof) in accordance with the instructions of the Depositary. The Trustee shall not be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully
protected in relying on, such instructions. 
 (d) Every Security authenticated and delivered upon registration of transfer of, or in
exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this Article III, Section 9.6 or 11.6 or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such
Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof. 
  

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 (e) Securities distributed to holders of Global Capital Securities (as defined in the applicable Trust
Agreement) upon the dissolution of an Issuer Trust shall be distributed in the form of one or more Global Securities registered in the name of a Depository or its nominee, and deposited with the Securities Registrar, as custodian for such
Depository, or with such Depository, for credit by the Depository to the respective accounts of the beneficial owners of the Securities represented thereby (or such other accounts as they may direct). Securities distributed to holders of Capital
Securities other than Global Capital Securities upon the dissolution of an Issuer Trust shall not be issued in the form of a Global Security or any other form intended to facilitate book-entry trading in beneficial interests in such Securities.

 (f) The Depositary or its nominee, as the registered owner of a Global Security, shall be the Holder of such Global Security for all
purposes under this Indenture and the Securities, and owners of beneficial interests in a Global Security shall hold such interests pursuant to the Applicable Procedures. Accordingly, any such owner’s beneficial interest in a Global Security
shall be shown only on, and the transfer of such interest shall be effected only through, records maintained by the Depositary or its nominee or agent. Neither the Trustee nor the Securities Registrar shall have any liability in respect of any
transfers effected by the Depositary. 
 (g) The rights of owners of beneficial interests in a Global Security shall be exercised only
through the Depositary and shall be limited to those established by law and agreements between such owners and the Depositary and/or its Agent Members. 
 SECTION 3.6. Registration, Transfer and Exchange Generally; Certain Transfers and Exchanges. 
 (a) The Company shall
cause to be kept at the Corporate Trust Office of the Trustee a register in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities and transfers of Securities. Such register is
herein sometimes referred to as the “Securities Register.” The Trustee is hereby appointed “Securities Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. 

Upon surrender for registration of transfer of any Security at the offices or agencies of the Company designated for that purpose, the Company shall
execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series of any authorized denominations of like tenor and principal amount and bearing such
restrictive legends as may be required by this Indenture. 
 At the option of the Holder, Securities may be exchanged for other Securities of
the same series in any authorized denominations, of like tenor and aggregate principal amount and bearing such restrictive legends as may be required by this Indenture, upon surrender of the Securities to be exchanged at such office or agency.
Whenever any securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities that the Holder making the exchange is entitled to receive. 
  

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 All Securities issued upon any transfer or exchange of Securities shall be the valid obligations of the
Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange. 
 Every Security presented or surrendered for transfer or exchange shall (if so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the
Company and the Securities Registrar, duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing. 
 No
service charge shall be made to a Holder for any transfer or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or
exchange of Securities. 
 Neither the Company nor the Trustee shall be required, pursuant to the provisions of this Section, (i) to
issue, register the transfer of or exchange any Security of any series during a period beginning at the opening of business 15 days before the day of selection for redemption of Securities of that series pursuant to Article XI and ending at the
close of business on the day of mailing of the notice of redemption, or (ii) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except, in the case of any such Security to be redeemed in part,
any portion thereof not to be redeemed. 
 (b) Certain Transfers and Exchanges. Notwithstanding any other provision of this Indenture,
transfers and exchanges of Securities and beneficial interests in a Global Security shall be made only in accordance with this Section 3.6(b). 
 (i) Restricted Non-Global Security to Global Security. If the Holder of a Restricted Security (other than a Global Security) wishes at any time to transfer all or any portion of such Security to a Person who wishes to take delivery thereof
in the form of a beneficial interest in a Global Security, such transfer may be effected only in accordance with the provisions of this clause (b)(i) and subject to the Applicable Procedures. Upon receipt by the Securities Registrar of (A) such
Security as provided in Section 3.6(a) and instructions satisfactory to the Securities Registrar directing that a beneficial interest in the Global Security in a specified principal amount not greater than the principal amount of such Security
be credited to a specified Agent Member’s account and (B) a Restricted Securities Certificate duly executed by such Holder or such Holder’s attorney duly authorized in writing, then the Securities Registrar shall cancel such Security
(and issue a new Security in respect of any untransferred portion thereof) as provided in Section 3.10 and increase the aggregate principal amount of the Global Security by the specified principal amount as provided in Section 3.5(c).

 (ii) Non-Global Security to Non-Global Security. A Security that is not a Global Security may be transferred, in whole or in part, to a
Person who takes delivery in the form of another Security that is not a Global Security as provided in Section 3.6(a), provided that if the Security to be transferred in whole or in part is a Restricted Security, 

  

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the Securities Registrar shall have received a Restricted Securities Certificate duly executed by the transferor Holder or such Holder’s attorney duly
authorized in writing and the Securities Registrar shall only be required to register the transfer of such Restricted Securities Certificate upon direction from the Company that such transfer is permissible. 
 (iii) Exchanges Between Global Security and Non-Global Security. A beneficial interest in a Global Security may be exchanged for a Security that is not a
Global Security as provided in Section 3.5. 
 (iv) Certain Initial Transfers of Non-Global Securities. In the case of Securities
initially issued other than in global form, an initial transfer or exchange of such Securities that does not involve any change in beneficial ownership may be made to an institutional accredited investor or investors as if such transfer or exchange
were not an initial transfer or exchange; provided that written certification shall be provided by the transferee and transferor of such Securities to the Securities Registrar that such transfer or exchange does not involve a change in
beneficial ownership. 
 (v) Limitations Relating to Principal Amount. Notwithstanding any other provision of this Indenture and unless
otherwise specified as permitted by Section 3.1; Securities or portions thereof may be transferred or exchanged only in principal amounts of not less than $1,000. To the fullest extent permitted by applicable law, any transfer, exchange or
other disposition of Securities in contravention of this Section 3.6(b)(v) shall be deemed to be void and of no legal effect whatsoever, any such transferee shall be deemed not to be the Holder or owner of any beneficial interest in such
Securities for any purpose, including but not limited to the receipt of interest payable on such Securities, and such transferee shall be deemed to have no interest whatsoever in such Securities and, the Securities Registrar shall not record any
such transfer in the Securities Registrar. 
 SECTION 3.7. Mutilated, Lost and Stolen Securities. 
 If any mutilated Security is surrendered to the Trustee together with such security, or indemnity, and/or other assurance as may be required by the
Company or the Trustee, in their discretion, to save each of them harmless, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series, of like tenor and aggregate principal
amount, bearing the same legends, and bearing a number not contemporaneously outstanding. 
 If there shall be delivered to the Company and
to the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security, and (ii) such security, indemnity and/or other assurance as may be required by them, in their discretion, to save each of them harmless,
then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate and deliver, in lieu of any such
destroyed, lost or stolen Security, a new Security of the same series, of like tenor and principal amount and bearing the same legends as such destroyed, lost or stolen Security, and bearing a number not contemporaneously Outstanding. 
  

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 If any such mutilated, destroyed, lost or stolen Security has become or is about to become due and
payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new Security
under this Section 3.7, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee)
connected therewith. 
 Every new Security issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute
an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately
with any and all other Securities of such series duly issued hereunder. 
 The provisions of this Section are exclusive and shall preclude
(to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 SECTION 3.8. Payment of Interest and Additional Interest; Interest Rights Preserved. 
 Interest and Additional
Interest on any Security of any series that is payable, and is punctually paid or duly provided for, on any Interest Payment Date, shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest in respect of Securities of such series, except that, unless otherwise provided in the Securities of such series, interest payable on the Stated Maturity of the principal of a Security
shall be paid to the Person to whom principal is paid. The initial payment of interest on any Security of any series that is issued between a Regular Record Date and the related Interest Payment Date shall be payable as provided in such Security or
in the Board Resolution pursuant to Section 3.1 with respect to the related series of Securities. 
 Any interest on any Security that
is due and payable, but is not timely paid or duly provided for, on any Interest Payment Date for Securities of such series (herein called “Defaulted Interest”), shall forthwith cease to be payable to the registered Holder on the
relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: 
 (1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series in respect
of which interest is in default (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which 

  

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shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each
Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon, the
Trustee shall fix a Special Record Date for the payment of such Defaulted Interest, which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the
Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and
the Special Record Date therefor to be mailed, first class, postage prepaid, to each Holder of a Security of such series at the address of such Holder as it appears in the Securities Register not less than 10 days prior to such Special Record Date.
The Trustee may, in its discretion, in the name and at the expense of the Company, cause a similar notice to be published at least once in a newspaper, customarily published in the English language on each Business Day and of general circulation in
the Borough of Manhattan, The City of New York, New York, but such publication shall not be a condition precedent to the establishment of such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered on such Special Record Date and shall no longer
be payable pursuant to the following clause (2). 
 (2) The Company may make payment of any Defaulted Interest in any other
lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of the series in respect of which interest is in default may be listed and, upon such notice as may be required by such exchange (or by the
Trustee if the Securities are not listed), if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause (2), such payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue interest, that were carried by such other Security. 
 SECTION 3.9. Persons Deemed
Owners. 
 The Company, the Trustee and any agent of the Company or the Trustee shall treat the Person in whose name any Security
is registered as the owner of such Security for the purpose of receiving payment of principal of and (subject to Section 3.8) any interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and
neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 
  

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 No holder of any beneficial interest in any Global Security held on its behalf by a Depositary shall have
any rights under this Indenture with respect to such Global Security, and such Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the owner of such Global Security for all purposes. Notwithstanding
the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by a Depositary or impair, as between a
Depositary and such holders of beneficial interests, the operation of customary practices governing the exercise of the rights of the Depositary (or its nominee) as Holder of any Security. 
 SECTION 3.10. Cancellation. 
 All Securities
surrendered for payment, redemption, transfer or exchange shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and Securities surrendered directly to the Trustee for any such purpose shall
be promptly canceled by it. Notwithstanding any other provisions of this Indenture, the Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder that the Company may have
acquired in any manner whatsoever, and all Securities so delivered shall be promptly canceled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided in this Section, except as expressly
permitted by this Indenture. All canceled Securities shall be destroyed by the Trustee and the Trustee shall deliver to the Company a certificate of such destruction. 
 SECTION 3.11. Computation of Interest. 
 Except as otherwise specified as contemplated by
Section 3.1 for Securities of any series, interest on the Securities of each series for any full quarterly period shall be computed on the basis of a 360-day year of twelve 30-day months. Interest on the Securities of each series for any period
less than a full quarter shall be computed on the basis of a 360-day year and the actual number of days elapsed during that period. 
 SECTION 3.12.
Deferrals of Interest Payment Dates. 
 If specified as contemplated by Section 2.1 or Section 3.1 with respect to the
Securities of a particular series, so long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time during the term of such series, from time to time to defer the payment of interest on such Securities for
such period or periods (each an “Extension Period”) not to exceed twenty consecutive quarterly periods with respect to each Extension Period, during which Extension Periods the Company shall, if so specified as contemplated by
Section 3.1, have the right to make no payments or partial payments of interest on any Interest Payment Date. No Extension Period shall end on a date other than an Interest Payment Date. At the end of any such Extension Period, the Company
shall pay all interest then accrued and unpaid on the Securities (together with Additional Interest thereon, if any, at the rate specified for the Securities of such series to the extent permitted by applicable law); provided, however, that
no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities of such series; and 

  

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provided further, however, that, during any such Extension Period, the Company shall not (i) declare or pay any dividends or distributions on, or
redeem, purchase, acquire or make a liquidation payment with respect to, any of the Company’s capital stock, or (ii) make any payment of principal of or interest or premium, if any, on or repay, repurchase or redeem any debt securities of
the Company that rank pari passu in all respects with or junior in interest to the Securities of such series (in each case, other than (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company in
connection with any employment contract, benefit or incentive plan or other similar arrangement with or for the benefit of any one or more employees, officers, directors or consultants of the Company or its Subsidiaries, in connection with a
dividend reinvestment or stock purchase plan or in connection with capital stock of the Company (or securities convertible into or exercisable for such capital stock) issued as consideration in an acquisition transaction entered into prior to the
applicable Extension Period, (b) as a result of an exchange or conversion of any class or series of the Company’s capital stock (or any capital stock of a Subsidiary of the Company) for any class or series of the Company’s capital
stock or of any class or series of the Company’s indebtedness for any class or series of the Company’s capital stock, (c) the purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or
exchange provisions of such capital stock or the security being converted or exchanged, (d) any declaration of a dividend in connection with any Rights Plan, or the issuance of rights, stock or other property under any Rights Plan, or the
redemption or repurchase of rights pursuant thereto, (e) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same
stock as that on which the dividend is being paid or ranks pari passu with or junior to such stock or (f) payments by the Company under the Guarantee). Prior to the termination of any such Extension Period, the Company may further defer
the payment of interest, provided that no Event of Default has occurred and is continuing and provided further, that no Extension Period shall exceed the period or periods specified in such Securities, extend beyond the Stated Maturity
of the principal of such Securities or end on a date other than an Interest Payment Date. Upon the termination of any such Extension Period and upon the payment of all accrued and unpaid interest and any Additional Interest then due on any Interest
Payment Date, the Company may elect to begin a new Extension Period, subject to the above conditions. No interest or Additional Interest shall be due and payable during an Extension Period, except at the end thereof, but each installment of interest
that would otherwise have been due and payable during such Extension Period and is not paid by the Company shall bear Additional Interest as and to the extent specified by Section 3.1. The Company shall give the Holders of the Securities of
such series and the Trustee notice of its election to begin any such Extension Period at least one Business Day prior to the next succeeding Interest Payment Date on which interest on Securities of such series would be payable but for such deferral
or, with respect to any Securities of a series issued to an Issuer Trust, so long as any such Securities are held by such Issuer Trust, at least one Business Day prior to the earlier of (i) the next succeeding date on which Distributions on the
Capital Securities of such Issuer Trust would be payable but for such deferral, and (ii) the record date for determining the holders of such Capital Securities entitled to such Distributions on the Capital Securities. 
 The Trustee shall promptly give notice of the Company’s election to begin any such Extension Period to the Holders of the Outstanding Securities of
such series. 
  

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 SECTION 3.13. Right of Set-Off. 
 With respect to the Securities of a series initially issued to an Issuer Trust, notwithstanding anything to the contrary herein, the Company shall have the right to set off any payment it is otherwise required to make
in respect of any such Security to the extent the Company has theretofore made, or is concurrently on the date of such payment making, a payment under the Guarantee relating to such Security or to a holder of Capital Securities pursuant to an action
undertaken under Section 5.8 of this Indenture. 
 SECTION 3.14. Agreed Tax Treatment. 
 Each Security issued hereunder shall provide that the Company and, by its acceptance of a Security or a beneficial interest therein, the Holder of, and
any Person that acquires a beneficial interest in, such Security agree that for United States Federal, state and local tax purposes it is intended that such Security constitutes indebtedness. 
 SECTION 3.15. Shortening or Extension of Stated Maturity. 
 As provided by Section 2.1 or Section 3.1 with respect to the Securities of a particular series, the Company shall have the right to (i) shorten the Stated Maturity of the principal of the Securities of
such series at any time to any date and (ii) extend the Stated Maturity of the principal of the Securities of such series at any time at its election for one or more periods, provided that, if the Company elects to exercise its right to
extend the Stated Maturity of the principal of the Securities of such series pursuant to clause (ii) above, at the time such election is made and at the time of extension, such conditions as may be specified in such Securities shall have been
satisfied. 
 SECTION 3.16. CUSIP Numbers. 
 The Company, in issuing the Securities, may use “CUSIP” numbers (if then generally in use or if a CUSIP number has been obtained for the Securities), and, if so, the Trustee shall use “CUSIP” numbers in notice of
redemption and other similar or related materials as a convenience to Holders; provided that any such notice or other materials may state that no representation is made as to the correctness of such numbers either as printed on the Securities
or as contained in any notice of redemption or other materials and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such
numbers. 
 ARTICLE IV 
 SATISFACTION AND DISCHARGE 
 SECTION 4.1. Satisfaction and Discharge of Indenture. 
 This Indenture shall, upon Company Request, cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of
Securities herein expressly provided for and as otherwise provided in this Section 4.1) and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture, when 
  

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 (1) either 
 (A) all Securities theretofore authenticated and delivered (other than (i) Securities that have been destroyed, lost or stolen and
that have been replaced or paid as provided in Section 3.7 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 10.3) have been delivered to the Trustee for cancellation; or 
 (B)
all such Securities not theretofore delivered to the Trustee for cancellation 
 (i) have become due and payable, or

 (ii) will become due and payable at their Stated Maturity within one year of the date of deposit, or 
 (iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the case of subclause (B)(i), (ii) or
(iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose an amount in the currency or currencies in which the Securities of such series are payable sufficient to pay and discharge the entire
indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for the principal (and premium, if any) and interest (including Additional Interest, if any) to the date of such deposit (in the case of Securities that have
become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 
 (2) the Company has paid or
caused to be paid all other sums payable hereunder by the Company; and 
 (3) the Company has delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel each stating that all conditions precedent herein provided relating to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.7, the obligations of
the Trustee to any Authenticating Agent under Section 6.14 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of the Trustee under Section 4.2 and the
last paragraph of Section 10.3 shall survive. 
  

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 Notwithstanding the foregoing, in any case where the Securities are not due and payable and have not been called for
redemption, such Securities shall remain recourse obligations of the Company. 
 SECTION 4.2 Application of Trust Money. 
 Subject to the provisions of the last paragraph of Section 10.3, all money deposited with the Trustee pursuant to Section 4.1 shall be held in
trust and applied by the Trustee, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest (including Additional Interest, if any) for the payment of which such money or obligations have been deposited with or received by the Trustee.

 ARTICLE V 
 REMEDIES

 SECTION 5.1. Events of Default. 
 “Event of Default,” wherever used herein with respect to the Securities of any series, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or
be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 
 (1) default in the payment of any interest upon any Security of that series, including any Additional Interest in respect thereof, when it
becomes due and payable, and continuance of such default for a period of 30 days (subject to the deferral of any due date in the case of any Extension Period); or 
 (2) default in the payment of the principal of (or premium, if any, on) any Security of that series at its Maturity, upon redemption, by
declaration of acceleration or otherwise; or 
 (3) failure on the part of the Company duly to observe or perform in any
material respect any other of the covenants or agreements on the part of the Company in the Securities of that series or in this Indenture for a period of 90 days after the date on which written notice of such failure, requiring the Company to
remedy the same, shall have been received by the Company from (i) the Trustee by registered or certified mail or (ii) Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series; or 
 (4) entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company in an
involuntary case or proceeding under the Bankruptcy Code, or any applicable federal or state bankruptcy, insolvency, 

  

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reorganization or other similar law or (B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable federal or state law appointing a custodian, receiver, conservator, liquidator, assignee, trustee, sequestrator or other similar
official of the Company or of substantially all of the property of the Company, or ordering the winding-up or liquidation of its affairs, and in the case of (A) or (B) the continuance of any such decree of order for relief or any such
other decree or order unstayed and in effect for a period of 60 consecutive days; or 
 (5) (A) the commencement by the
Company of a voluntary case or proceeding under the Bankruptcy Code, or any applicable federal or state bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or
(B) the consent by the Company to the entry of a decree of order for relief in respect of itself in an involuntary case or proceeding under the Bankruptcy Code or any applicable federal or state bankruptcy, insolvency, reorganization or other
similar law or to the commencement of any bankruptcy or insolvency case or proceeding against the Company, or (C) the filing by the Company of a petition or answer or consent seeking reorganization or relief under any applicable federal or
state law or (D) the consent by the Company to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, conservator, liquidator, assignee, trustee, sequestrator or other similar official of the Company
or of all or substantially all of the property of the Company, or (E) the making by the Company of an assignment for the benefit of creditors; or 
 (6) any other Event of Default provided with respect to Securities of that series. 
 SECTION 5.2. Acceleration of
Maturity; Rescission and Annulment. 
 If an Event of Default (other than an Event of Default specified in Section 5.1(4) or 5.1(5))
with respect to Securities of any series at the time Outstanding 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 Securities of that series may
declare the principal amount (or, if the Securities of that series are Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable immediately,
by a notice in writing to the Company (and to the Trustee if given by Holders), provided that, in the case of the Securities of a series issued to an Issuer Trust, if, upon an Event of Default, the Trustee or the Holders of not less than 25%
in aggregate principal amount of the Outstanding Securities of such series fail to declare the principal of all the Outstanding Securities of such series to be immediately due and payable, the holders of at least 25% in aggregate Liquidation Amount
of the related series of Capital Securities issued by such Issuer Trust then outstanding shall have the right to make such declaration by a notice in writing to the Company and the Trustee; and upon any such declaration such principal amount (or
specified portion thereof) of and the accrued interest (including Additional Interest, if any) on all the Securities of such series shall become immediately due and payable. If an Event of Default 

  

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specified in Sections 5.1(4) or 5.1(5) with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of
such series (or, if the Securities of such series are Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms of that series) shall automatically, and without any declaration or other action on
the part of the Trustee or any Holder, become immediately due and payable. Payment of principal and interest (including any Additional Interest) on such Securities shall remain subordinated to the extent provided in Article XIII notwithstanding that
such amount shall become immediately due and payable as herein provided. 
 At any time after such a declaration of acceleration with respect
to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article, the Holders of a majority in aggregate principal amount of the
Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences and waive the Event of Default if: 
 (1) the Company has paid or deposited with the Trustee a sum sufficient to pay: 
 (A) all overdue installments of interest on all Securities of such series; 
 (B) any accrued Additional Interest, if any, on all Securities of such series; 
 (C) the principal of (and premium, if any, on) any Securities of such series that have become due otherwise than by such declaration of
acceleration and interest and Additional Interest, if any, thereon at the rate borne by the Securities; and 
 (D) all sums
paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 
 (2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series that has become due solely by such acceleration, have been cured or waived
as provided in Section 5.13. 
 In the case of Securities of a series initially issued to an Issuer Trust, if the Holders of such
Securities fail to annul such declaration and waive such default, the holders of a majority in aggregate Liquidation Amount of the related series of Capital Securities issued by such Issuer Trust then outstanding shall also have the right to rescind
and annul such declaration and its consequences by written notice to the Company and the Trustee, subject to the satisfaction of the conditions set forth in the immediately preceding clauses (1) and (2) above of this Section 5.2.

 No such rescission or waiver shall affect or apply to any subsequent default or Event of Default or impair any right consequent thereon. 
  

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 SECTION 5.3. Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company covenants that if: 
 (1) default is made in the payment of any installment of interest (including Additional Interest, if any) on any Security of any series when such interest becomes due and payable and such default continues for a period of 30 days other than
a deferral of interest payments during an Extension Period, or 
 (2) default is made in the payment of the principal of (and
premium, if any, on) any Security at the Maturity thereof, 
 the Company will, upon demand of the Trustee, pay to the Trustee, for the
benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and premium, if any) and interest (including Additional Interest, if any), and, in addition thereto, all amounts owing the Trustee
under Section 6.7. 
 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee
of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon such
Securities and collect the monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. 
 If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and
enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any
covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 SECTION 5.4.
Trustee May File Proofs of Claim. 
 In case of any receivership, conservatorship, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial or administrative proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors,

 (a) the Trustee (irrespective of whether the principal of the Securities of any series shall then be due and payable as therein expressed
or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal (and premium, if any) or interest (including Additional Interest, if any)) shall be entitled and
empowered, by intervention in such proceeding or otherwise, 
  

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 (i) to file and prove a claim for the whole amount of principal (and premium, if any) and
interest (including Additional Interest, if any) owing and unpaid in respect to the Securities and to file such other papers or documents as may be necessary or advisable and to take any and all actions as are authorized under the Trust Indenture
Act in order to have the claims of the Holders, the Trustee and any predecessor to the Trustee under Section 6.7 allowed in any such judicial or administrative proceedings; and 
 (ii) in particular, the Trustee shall be authorized to collect and receive any monies or other property payable or deliverable on any such
claims and to distribute the same in accordance with Section 5.6; and 
 (b) any custodian, receiver, conservator, assignee, trustee,
liquidator, sequestrator, (or other similar official) in any such judicial or administrative proceeding is hereby authorized by each Holder to make such payments to the Trustee for distribution in accordance with Section 5.6, and in the event
that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it and any predecessor Trustee under Section 6.7. 
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided, however, the
Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 
 SECTION 5.5. Trustee May Enforce Claim Without Possession of Securities. 
 All rights of action
and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, subject to Article XIII and after provision for the payment of all the amounts owing the Trustee and any predecessor Trustee under
Section 6.7, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 
 SECTION 5.6 Application of Money Collected. 
 Any money or property collected or to be applied by the Trustee with
respect to a series of Securities pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money or property on account of principal (or premium, if any) or
interest (including Additional Interest, if any), upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 
 FIRST: To the payment of all amounts due the Trustee and any predecessor Trustee under Section 6.7; 
  

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 SECOND: Subject to Article XIII, to the payment of all amounts then due and unpaid upon Securities
of such series for principal (and premium, if any) and interest (including Additional Interest, if any) in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to
the amounts due and payable on such series of Securities for principal (and premium, if any) and interest (including Additional Interest, if any), respectively; and 
 THIRD: The balance, if any, to the Person or Persons entitled thereto. 
 SECTION 5.7 Limitation on Suits.

 Subject to Section 5.8, no Holder of any Securities of any series shall have any right to institute any proceeding, judicial or
otherwise, with respect to this Indenture or for the appointment of a receiver, conservator, assignee, trustee, liquidator, sequestrator (or other similar official) or for any other remedy hereunder, unless: 
 (1) an Event of Default with respect to Securities of any series has occurred and is continuing, and the Company has not paid or deposited
with the Trustee all amounts then payable; 
 (2) such Holder has previously given written notice to the Trustee of a
continuing Event of Default with respect to the Securities of that series; 
 (3) the Holders of not less than 25% in
aggregate principal amount of the Outstanding Securities of that series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (4) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in
compliance with such request; 
 (5) the Trustee for 60 days after its receipt of such notice, request and offer of
indemnity has failed to institute any such proceeding; and 
 (6) no direction inconsistent with such written request has been
given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series; 
 it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing itself of, any provision of this Indenture to affect, disturb or prejudice
the rights of any other Holders of Securities, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable
benefit of all such Holders. 
  

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 SECTION 5.8. Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of
Capital Securities. 
 Notwithstanding any other provision in this Indenture, but subject to Article XIII, the Holder of any
Security of any series shall have the right, which is absolute and unconditional, to receive payment of the principal of (and premium, if any) and (subject to Sections 3.8 and 3.12) interest (including Additional Interest, if any) on such Security
on the respective Stated Maturities expressed in such Security (or in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such
Holder. In the case of Securities of a series issued to an Issuer Trust, any registered holder of Capital Securities issued by such Issuer Trust shall, to the fullest extent permitted by applicable law, have the right, upon the occurrence of an
Event of Default described in Sections 5.1(1) or 5.1(2) and subject to the same terms and conditions as provided in Section 5.7 above, provided the term “Holder” used therein shall be changed for purposes of this sentence
to “holder of Capital Securities” to institute a suit directly against the Company for enforcement of payment to such holder of principal of (and premium, if any) and (subject to Sections 3.8 and 3.12) interest (including Additional
Interest, if any) on the Securities having a principal amount equal to the aggregate Liquidation Amount of such Capital Securities held by such holder. 
 SECTION 5.9. Restoration of Rights and Remedies. 
 If the Trustee, any Holder or any holder of Capital Securities
issued by any Issuer Trust has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee, such Holder or such
holder of Capital Securities, then, and in every such case, the Company, the Trustee, such Holders and such holder of Capital Securities shall, subject to any determination in such proceeding, be restored severally and respectively to their former
positions hereunder, and thereafter all rights and remedies of the Trustee, such Holder and such holder of Capital Securities shall continue as though no such proceeding had been instituted. 
 SECTION 5.10. Rights and Remedies Cumulative. 
 Except as otherwise provided in the last paragraph of Section 3.7, no right or remedy herein conferred upon or reserved to the Trustee or the Holders is intended to be exclusive of any other right or remedy, and every right and remedy
shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 SECTION 5.11. Delay or Omission Not
Waiver. 
 No delay or omission of the Trustee, any Holder of any Security with respect to the Securities of the related series or
any holder of any Capital Security to exercise any right or 

  

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remedy accruing upon any Event of Default with respect to the Securities of the related series shall impair any such right or remedy or constitute a waiver
of any such Event of Default or an acquiescence therein. 
 Every right and remedy given by this Article, or by law to the Trustee or to the
Holders and the right and remedy given to the holders of Capital Securities by Sections 5.2 and 5.8 may be exercised from time to time, and as often as may be deemed expedient, by the Trustee, the Holders or the holders of Capital Securities,
as the case may be. 
 SECTION 5.12. Control by Holders. 
 The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series, provided that: 
 (1) such direction shall not be in conflict with any rule of law or with this Indenture; 
 (2) the Trustee
may take any other action deemed proper by the Trustee that is not inconsistent with such direction; and 
 (3) subject to the provisions of
Section 6.1, the Trustee shall have the right to decline to follow such direction if a Responsible Officer or Officers of the Trustee shall, in good faith, determine that the proceeding so directed would be unjustly prejudicial to the Holders
not joining in any such direction or would involve the Trustee in personal liability. 
 SECTION 5.13. Waiver of Past Defaults. 
 The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series affected thereby and, in the case of any
Securities of a series initially issued to an Issuer Trust, the holders of a majority in aggregate Liquidation Amount of the Capital Securities issued by such Issuer Trust, may waive any past default hereunder and its consequences with respect to
such series, except a default: 
 (1) in the payment of the principal of (and premium, if any) or interest (including
Additional Interest, if any) on any Security of such series (unless such default has been cured and the Company has paid to or deposited with the Trustee a sum sufficient to pay all matured installments of interest (including Additional Interest, if
any) and all principal of (and premium, if any, on) all Securities of that series due otherwise than by acceleration unless the Company has deferred payments of interest during and Extension Period); or 
 (2) in respect of a covenant or provision hereof that under Article IX cannot be modified or amended without the consent of each
Holder of any Outstanding Security of such series affected. 
  

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 Any such waiver shall be deemed to be on behalf of the Holders of all the Securities of such series, or
in the case of any Securities of a series initially issued to an Issuer Trust, shall be deemed to be a waiver by holders of Capital Securities issued by such Issuer Trust, by all holders of Capital Securities issued by such Issuer Trust. 

Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every
purpose of this Indenture, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. 
 SECTION 5.14. Undertaking for Costs. 
 All parties to this Indenture agree, and each Holder of any Security by his
acceptance thereof shall be deemed to have agreed, that any court may, in its discretion, require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it
as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may, in its discretion, assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in
such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant, but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group
of Holders, holding in the aggregate more than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of (and premium, if any) or
interest (including Additional Interest, if any) on any Security on or after the respective Stated Maturities expressed in such Security, or in the case of any redemption, on or after the Redemption Date for the enforcement of the payment of the
Redemption Price or the right to exchange such Securities for Capital Securities, as provided herein or in the related Trust Agreement. 
 SECTION 5.15.
Waiver of Usury, Stay or Extension Laws. 
 The Company covenants (to the extent that it may lawfully do so) that it will not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee,
but will suffer and permit the execution of every such power as though no such law had been enacted. 
  

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 ARTICLE VI 
 THE TRUSTEE 
 SECTION 6.1. Certain Duties and Responsibilities. 
 (a) Except during the continuance of an Event of Default, 
 (1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee;
and 
 (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture, but in the case of any such certificates or opinions that by any provisions hereof are
specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture. 
 (b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture,
and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (c) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct except that 
 (1) this subsection shall not be construed to limit the effect of subsection (a) of this Section; 
 (2) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that
the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee shall not be liable with respect to any
action taken or omitted to be taken by it in good faith in accordance with the direction of Holders pursuant to Section 5.12 relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of a series. 
 (d) No
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if there shall be
reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
  

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 (e) Whether or not therein expressly so provided, every provision of this Indenture relating to the
conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 
 SECTION 6.2. Notice of
Defaults. 
 Within 90 days after actual knowledge by a Responsible Officer of the Trustee of the occurrence of any default
hereunder with respect to the Securities of any series, the Trustee shall transmit by mail to all Holders of Securities of such series, as their names and addresses appear in the Securities Register, notice of such default, unless such default shall
have been cured or waived; provided, however, except in the case of a default in the payment of the principal of (and premium, if any) or interest (including Additional Interest, if any) on any Security of such series, the Trustee shall be
protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determines that the Company has properly deferred
interest payments during an Extension Period, or that the withholding of such notice is in the interests of the Holders of Securities of such series; and provided further, in the case of any default of the character specified in
Section 5.1(3), no such notice to Holders of Securities of such series shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event that is, or
after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series. 
 SECTION 6.3. Certain Rights of
Trustee. 
 Subject to the provisions of Section 6.1: 
 (a) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion,
report, notice, request, direction, consent, order, bond, debenture, Security or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (b) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of
the Board of Directors may be sufficiently evidenced by a Board Resolution; 
 (c) whenever in the administration of this Indenture the
Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part,
rely upon an Officers’ Certificate; 
 (d) the Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel
shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
  

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 (e) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that might be incurred by it
in compliance with such request or direction; 
 (f) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, indenture, Security or other paper or document, but the Trustee in its discretion may make such inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall determine to make such inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney; and

 (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents
or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. 
 SECTION 6.4. Not Responsible for Recitals or Issuance of Securities. 
 The recitals contained herein
and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee
makes no representations as to the validity or sufficiency of this Indenture or of the Securities of any series or of the Capital Securities. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the
Company of the Securities or the proceeds thereof. 
 SECTION 6.5. May Hold Securities. 
 The Trustee, any Authenticating Agent, any Paying Agent, any Securities Registrar or any other agent of the Company, in its individual or any other
capacity, may become the owner or pledgee of Securities and, subject to Sections 6.8 and 6.13, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Securities
Registrar or such other agent. 
 SECTION 6.6. Money Held in Trust. 
 Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no
liability for interest on any money received by it hereunder except as otherwise agreed with the Company. 
 SECTION 6.7. Compensation and
Reimbursement. 
 (a) The Company agrees to pay to the Trustee from time to time reasonable compensation for all services rendered
by it hereunder in such amounts as the Company and the Trustee shall agree from time to time (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust). 
  

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 (b) The Company agrees to reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement
or advance as may be attributable to its negligence, bad faith, or willful misconduct. 
 (c) Since the Issuer Trust is being formed solely
to facilitate an investment in the Trust Securities, the Company, as Depositor of the Issuer Trust under the Trust Agreement, hereby covenants to pay all debts and obligations (other than with respect to the Capital Securities and the Common
Securities) and all reasonable costs and expenses of the Issuer Trust (including without limitation all relating to the organization and operation of the Issuer Trust (including, without limitation, the fees and expenses of the trustees)) and any
and all taxes, duties, assessments or governmental charges of whatever nature (other than withholding taxes) imposed on the Issuer Trust by the United States, or any taxing authority, so that the net amounts received and retained by the Issuer Trust
and the Property Trustee after paying such expenses will be equal to the amounts the Issuer Trust and the Property Trustee would have received had no such costs or expenses been incurred by or imposed on the Issuer Trust. The foregoing obligations
of the Company are for the benefit of, and shall be enforceable by, any person to whom any such debts, obligations, costs, expenses and taxes are owed (each, a “Creditor”), whether or not such Creditor has received notice thereof.
Any such Creditor may enforce such obligations directly against the Company, and the Company irrevocably waives any right or remedy to require that any such Creditor take any action against the Issuer Trust or any other person before proceeding
against the Company. The Company shall execute such additional agreements as may be necessary or desirable to give full effect to the foregoing. 
 (d) The Company shall indemnify the Trustee for, and hold it harmless against, any loss, liability or expense (including the reasonable compensation and the expenses and disbursements of its agents and counsel) incurred without negligence
or bad faith, arising out of or in connection with the acceptance or administration of this trust or the performance of its duties hereunder, including the reasonable costs and expenses of defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties hereunder. This indemnification shall survive the termination of this Indenture or the resignation or removal of the Trustee. 
 When the Trustee incurs expenses or renders services after an Event of Default specified in Section 5.1(4) or 5.1(5) occurs, the expenses and the
compensation for the services are intended to constitute expenses of administration under the Bankruptcy Code. 
 SECTION 6.8. Disqualification;
Conflicting Interests. 
 The Trustee for the Securities of any series issued hereunder shall be subject to the provisions of
Section 310(b) of the Trust Indenture Act. Nothing herein shall prevent the Trustee from filing with the Commission the application referred to in the second to last paragraph of 

  

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said Section 310(b). To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest with respect to
Securities of any series by virtue of being a trustee under this Indenture with respect to any other series hereunder. The Trust Agreement and the Guarantee Agreement shall be deemed to be specifically described in this Indenture for purposes of
clause (i) of the first proviso contained in Section 310(b) of the Trust Indenture Act. 
 SECTION 6.9. Corporate Trustee Required;
Eligibility. 
 There shall at all times be a Trustee hereunder which shall be: 
 (a) an entity organized and doing business under the laws of the United States of America or of any state or territory thereof or of the District of
Columbia, authorized under such laws to exercise corporate trust powers and subject to supervision or examination by Federal, state, territorial or District of Columbia authority; or 
 (b) an entity or other Person organized and doing business under the laws of a foreign government that is permitted to act as Trustee pursuant to a rule,
regulation or order of the Commission, authorized under such laws to exercise corporate trust powers, and subject to supervision or examination by authority of such foreign government or a political subdivision thereof substantially equivalent to
supervision or examination applicable to United States institutional trustees; 
 in either case having a combined capital and surplus of at least
$100,000,000 and subject to supervision or examination by Federal or state authority. If such entity publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then,
for the purposes of this Section, the combined capital and surplus of such entity shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. Neither the Company nor any Person directly or indirectly controlling, controlled by or
under common control with the Company shall serve as Trustee for the Securities of any series issued hereunder. 
 SECTION 6.10. Resignation and Removal;
Appointment of Successor. 
 (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this
Article shall become effective until the acceptance of appointment by the successor Trustee under Section 6.11. 
 (b) The Trustee may
resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the
giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
  

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 (c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the
Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. 
 (d) If at any time: 
 (1) the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company or by
any Holder who has been a bona fide Holder of a Security for at least six months; or 
 (2) the Trustee shall cease to be eligible
under Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder; or 
 (3) the Trustee
shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver, conservator, liquidator or similar official of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the
Trustee or of its property or affairs for the purpose of rehabilitation, receivership, conservation, winding up or liquidation; 
 then, in any such case,
(i) the Company, acting pursuant to the authority of a Board Resolution, may remove the Trustee with respect to the Securities of all series issued hereunder, or (ii) subject to Section 5.14, any Holder who has been a bona fide
Holder of a Security for at least six months may, on behalf of such Holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to the Securities of all series issued
hereunder and the appointment of a successor Trustee or Trustees. 
 (e) If the Trustee shall resign, be removed or become incapable of
acting, or if a vacancy shall occur in the office of Trustee for any cause with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee with respect to the Securities of that or
those series. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in
aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the successor Trustee with
respect to the Securities of such series and supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted
appointment in the manner hereinafter provided, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 5.14, on behalf of such Holder and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 (f)
The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such
event by first-class mail, postage prepaid, to the Holders of Securities of such series as their names and addresses appear in the Securities Register. Each notice shall include the name of the successor Trustee with respect to the Securities of
such series and the address of its Corporate Trust Office. 
  

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 SECTION 6.11. Acceptance of Appointment by Successor. 
 (a) In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute,
acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and
deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder. 
 (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all)
series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and
which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to
or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall
constitute such Trustees or co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution
and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each removal of the retiring Trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts, and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor
Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such
successor Trustee relates. 
 (c) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more
fully and certainly vesting in and confirming to such successor Trustee all rights, powers and trusts referred to in paragraphs (a) or (b) of this Section 6.11, as the case may be. 
  

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 (d) No successor Trustee shall accept its appointment unless, at the time of such acceptance, such
successor Trustee shall be qualified and eligible under this Article VI. 
 SECTION 6.12. Merger, Conversion, Consolidation or Succession to Business.

 Any entity into which the Trustee may be merged or converted or with which it may be consolidated, or any entity resulting from any merger,
conversion or consolidation to which the Trustee shall be a party, or any entity succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such entity
shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not delivered, by the
Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated, and in case any Securities shall not have been authenticated, any
successor to the Trustee may authenticate such Securities either in the name of any predecessor Trustee or in the name of such successor Trustee, and in all cases the certificate of authentication shall have the full force which it is provided
anywhere in the Securities or in this Indenture that the certificate of the Trustee shall have. 
 SECTION 6.13. Preferential Collection of Claims Against
Company. 
 If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Securities), the Trustee
shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor). 
 SECTION 6.14. Appointment of Authenticating Agent. 
 The Trustee may appoint an Authenticating Agent or Agents with respect
to one or more series of Securities, which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon original issue and upon exchange, registration of transfer or partial redemption thereof or pursuant
to Section 3.6, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to
the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Company and shall at all times be an entity organized and doing business under the laws of the United States of America, or of any state or territory thereof or of the District of Columbia, authorized
under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $100,000,000 and subject to supervision or examination by Federal or state authority. If such Authenticating Agent publishes reports of condition
at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the
manner and with the effect specified in this Section. 
  

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 Any entity into which an Authenticating Agent may be merged or converted or with which it may be
consolidated, or any entity resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any entity succeeding to all or substantially all of the corporate trust business of an Authenticating Agent
shall be the successor Authenticating Agent hereunder, provided such entity shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent.

 An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any
time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent, which shall be acceptable to the Company and shall give notice of such appointment in the manner provided
in Section 1.6 to all Holders of Securities of the series with respect to which such Authenticating Agent will serve. Any successor Authenticating Agent upon acceptance hereunder shall become vested with all the rights, powers and duties of its
predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provision of this Section. 
 The Company agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section, and the Trustee
shall be entitled to be reimbursed for such payment, subject to the provisions of Section 6.7. 
 If an appointment with respect to one
or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication in the following form:

  

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 This is one of the Securities referred to in the within mentioned Indenture. 
  

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

		 	As Authenticating Agent for the Trustee
			
		 	By:	 	  

		 	Name of Authorized Officer:
		 	Title:	 	

 ARTICLE VII 
 HOLDER LISTS AND REPORTS BY TRUSTEE, 
 PAYING AGENT AND COMPANY 
 SECTION 7.1. Company to Furnish Trustee Names and Addresses of Holders. 
 The Company will furnish or cause to be furnished to the Trustee with respect to Securities of each series for which it acts as Trustee hereunder: 
 (a) quarterly, not more than 15 days after each regular record date for each Interest Payment Date, a list, in such form as the Trustee may reasonably
require, of the names and addresses of the Holders as of such record date; and 
 (b) at such other times as the Trustee may request in
writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, no such list need be furnished,
if and so long as the Trustee is the Securities Registrar. 
 SECTION 7.2. Preservation of Information; Communications to Holders. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list
furnished to the Trustee as provided in Section 7.1 and the names and addresses of Holders received by the Trustee in its capacity as Securities Registrar. The Trustee may destroy any list furnished to it as provided in Section 7.1 upon
receipt of a new list so furnished. 
 (b) The rights of Holders to communicate with other Holders with respect to their rights under this
Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided in the Trust Indenture Act. 
  

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 (c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held accountable by reason of the disclosure of information as to the names and addresses of the Holders made pursuant to the Trust Indenture Act. 

SECTION 7.3. Reports by Trustee and Paying Agent. 
 (a) The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act, at the times and in the manner provided pursuant thereto. 

(b) Reports so required to be transmitted at stated intervals of not more than 12 months shall be transmitted no later than January 31 in
each calendar year, commencing with the first January 31 after the first issuance of Securities under this Indenture. 
 (c) A copy of
each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each securities exchange, if any, upon which any Securities are listed, and also with the Commission, if and to the extent then required by the
Commission’s rules and regulations. The Company will notify the Trustee when any Securities are listed on any securities exchange. 
 (d) The Paying Agent shall comply with all withholding, backup withholding, tax and information reporting requirements under the Internal Revenue Code of 1986, as amended, and the Treasury Regulations issued thereunder with respect to
payments on, or with respect to, the Securities. 
 SECTION 7.4. Reports by Company. 
 The Company shall file or cause to be filed with the Trustee and with the Commission, if and to the extent then required by the Commission’s rules
and regulations, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the manner provided in the Trust Indenture Act, if this
Indenture is then qualified under and subject to the Trust Indenture Act. In the case of information, documents or reports required to be filed with the Commission pursuant to Section 13(a) or Section 15(d) of the Exchange Act, the Company
shall file or cause the filing of such information documents or reports with the Trustee within 15 days after the same are required to be filed with the Commission. Annually, by April 30 of each year, the Company will file with the Trustee
a certificate of compliance with all conditions and covenants applicable to the Company hereunder. 
  

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 ARTICLE VIII 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 SECTION 8.1. Company May Consolidate, Etc., Only on Certain
Terms. 
 The Company shall not consolidate with or merge into any other Person or convey, transfer or lease its properties and assets
substantially as an entirety to any Person, unless: 
 (1) the Person resulting from such consolidation or merger or the
Person to which the Company conveys, transfers or leases its properties and assets substantially as an entirety shall be an entity organized and existing under the laws of the United States of America or any state thereof or the District of Columbia
and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of (and premium, if any), interest (including Additional
Interest, if any) and Additional Sums, if any, on all the Securities of every series and the performance of every covenant of this Indenture on the part of the Company to be performed or observed; 
 (2) immediately after giving effect to such transaction, no Event of Default, and no event that, after notice or lapse of time, or both,
would constitute an Event of Default, shall have occurred and be continuing; and 
 (3) the Company has delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and any such supplemental indenture comply with this Article and that all conditions precedent herein
provided for relating to such transaction have been complied with and met. The Trustee, subject to Section 6.1, may rely upon such Officers’ Certificates and Opinions of Counsel as conclusive evidence that such transaction complies with
this Section 8.1. 
 SECTION 8.2. Successor Company Substituted. 
 Upon any consolidation or merger by the Company with or into any other Person, or any conveyance, transfer or lease by the Company of its properties and assets substantially as an entirety to any Person in accordance
with Section 8.1, the successor entity formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of,
the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein; and in the event of any conveyance, transfer or lease of the Company’s properties and assets substantially as an entirety
and not as part of a merger or consolidation, the Company shall be discharged from all obligations and covenants under the Indenture and the Securities. 
 Such successor Person may cause to be executed, and may issue either in its own name or in the name of the Company, any or all of the Securities issuable hereunder that theretofore shall not have been signed by the
Company and delivered to the Trustee; and, upon the order of such 

  

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successor Person instead of the Company and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate
and shall deliver any Securities that previously shall have been signed and delivered by the officers of the Company to the Trustee for authentication pursuant to such provisions and any Securities that such successor Person thereafter shall cause
to be executed and delivered to the Trustee on its behalf for the purpose pursuant to such provisions. All the Securities so issued shall in all respects have the same legal rank and benefit under this Indenture as the Securities theretofore or
thereafter issued in accordance with the terms of this Indenture. 
 In case of any such consolidation, merger, sale, conveyance or lease,
such changes in phraseology and form may be made in the Securities thereafter to be issued as may be appropriate. 
 ARTICLE IX

 SUPPLEMENTAL INDENTURES 
 SECTION
9.1. Supplemental Indentures Without Consent of Holders. 
 Without the consent of any Holders, the Company, when authorized by a Board
Resolution, and the Trustee, at any time and from time to time, may amend or waive any provision of this Indenture or may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes:

 (1) to evidence the succession of another Person to the Company, and the assumption by any such successor of the covenants
of the Company herein and in the Securities contained; or 
 (2) to convey, transfer, assign, mortgage or pledge any property
to or with the Trustee, or to surrender any right or power herein conferred upon the Company; or 
 (3) to establish the form
or terms of Securities of any series as permitted by Sections 2.1 or 3.1; or 
 (4) to facilitate the issuance of
Securities of any series in certificated or other definitive form; or 
 (5) to add to the covenants of the Company for the
benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of the series
specified), or to surrender any right or power herein conferred upon the Company; or 
 (6) to add any additional Events of
Default for the benefit of the Holders of all or any series of Securities (and if such additional Events of Defaults are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being
included solely for the benefit of the series specified); or 
  

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 (7) to change or eliminate any of the provisions of this Indenture, provided that
any such change or elimination shall (a) become effective only when there is no Security Outstanding of any series created prior to the execution of such supplemental indenture that is entitled to the benefit of such provision or
(b) not apply to any Outstanding Securities; or 
 (8) to cure any ambiguity, to correct or supplement any provision
herein that may be defective or inconsistent with any other provision herein or in any Trust Agreement establishing an Issuer Trust to which Securities have been or are to be issued, or to make any other provisions with respect to matters or
questions arising under this Indenture, provided that such action pursuant to this clause (8) shall not adversely affect the (i) interests of the Holders of Securities of any series in any material respect or, (ii) in the case
of the Securities of a series issued to an Issuer Trust and for so long as any of the corresponding series of Capital Securities issued by such Issuer Trust shall remain outstanding, the interests of holders of such Capital Securities; or

 (9) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the
Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of
Section 6.11(b); or 
 (10) to comply with the requirements of the Commission in order to effect or maintain the
qualification of this Indenture under the Trust Indenture Act. 
 SECTION 9.2. Supplemental Indentures with Consent of Holders. 
 With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of each series affected by such
supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided no such supplemental indenture
shall, without the consent of the Holder of each Outstanding Security of each series affected thereby, 
 (1) change the
Stated Maturity of the principal of, or any installment of interest (including any Additional Interest) on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or
reduce the amount of principal of a Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2, change any obligation of the Company to pay Additional Sums pursuant to
Section 10.6 hereof (except as contemplated by Section 8.1 and permitted by Section 9.1(1)), or change the place of payment where, or the coin or currency in which, any Security or interest thereon or any other sum is payable, or
impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or 
  

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 (2) reduce the percentage in aggregate principal amount of the Outstanding Securities of
any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their
consequences) provided for in this Indenture, or 
 (3) modify any of the provisions of this Section, Section 5.13 or
Section 10.5, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Security affected thereby; 
 provided, further, that, in the case of the Securities of a series issued to an Issuer Trust, so long as any of the corresponding series of Capital
Securities issued by such Issuer Trust remains outstanding, (i) no such amendment shall be made that adversely affects the holders of such Capital Securities in any material respect, and no termination of this Indenture shall occur, and no
waiver of any Event of Default or compliance with any covenant under this Indenture shall be effective, without the prior consent of the holders of at least a majority of the aggregate Liquidation Amount of such Capital Securities then outstanding,
unless and until the principal of (and premium, if any, on) the Securities of such series and all accrued and (subject to Section 3.8) unpaid interest (including Additional Interest, if any) thereon have been paid in full, and (ii) no
amendment shall be made to Section 5.8 of this Indenture that would impair the rights of the holders of Capital Securities issued by an Issuer Trust provided therein without the prior consent of the holders of each such Capital Security then
outstanding unless and until the principal of (and premium, if any, on) the Securities of such series and all accrued and (subject to Section 3.8) unpaid interest (including Additional Interest, if any) thereon have been paid in full.

 A supplemental indenture that changes or eliminates any covenant or other provision of this Indenture that has expressly been included
solely for the benefit of one or more particular series of Securities or any corresponding series of Capital Securities of an Issuer Trust that holds the Securities of any series, or that modifies the rights of the Holders of Securities of such
series or the holders of such Capital Securities of such corresponding series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series or the
holders of Capital Securities of any other such corresponding series. 
 It shall not be necessary for any Act of Holders under this Section
to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
  

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 SECTION 9.3. Execution of Supplemental Indentures. 
 In executing or accepting the additional trusts created by any supplemental indenture permitted by this Article or the modifications thereby of the trusts
created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 6.1) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such supplemental
indenture is authorized or permitted by this Indenture, and that all conditions precedent herein provided for relating to such action have been complied with. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture
that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 SECTION 9.4. Effect of Supplemental Indentures.

 Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 
 SECTION 9.5. Conformity with Trust Indenture Act. 
 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect. 
 SECTION 9.6. Reference in Securities to Supplemental Indentures. 
 Securities of any series authenticated and delivered after
the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Company, bear a notation in form approved by the Company as to any matter provided for in such supplemental indenture. If the Company shall so
determine, new Securities of any series so modified as to conform, in the opinion of the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for
Outstanding Securities of such series. 
 ARTICLE X 
 COVENANTS 
 SECTION 10.1. Payment of Principal, Premium and Interest. 
 The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of (and premium, if any)
and interest (including Additional Interest, if any) on the Securities of that series in accordance with the terms of such Securities and this Indenture. 
  

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 SECTION 10.2. Maintenance of Office or Agency. 
 The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be presented or
surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served.
The Company initially appoints the Trustee, acting through its Corporate Trust Office, as its agent for said purposes. The Company will give prompt written notice to the Trustee of any change in the location of any such office or agency. If at any
time the Company shall fail to maintain such office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and
the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company may
also from time to time designate one or more other offices or agencies where the Securities may be presented or surrendered for any or all of such purposes, and may from time to time rescind such designations; provided, however, no such
designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee
of any such designation and any change in the location of any such office or agency. 
 SECTION 10.3. Money for Security Payments to be Held in Trust.

 If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date
of the principal of (and premium, if any) or interest (including Additional Interest, if any) on any of the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal
(and premium, if any) or interest (including Additional Interest) so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its failure so to act. 

Whenever the Company shall have one or more Paying Agents, it will, prior to 10:00 A.M. Eastern Time, on each due date of the principal of (or
premium, if any) or interest, including Additional Interest on any Securities, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest, including Additional Interest so becoming due, such sum to be held in
trust for the benefit of the Persons entitled to such principal (and premium, if any) or interest, including Additional Interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its failure so to act.

 The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying
Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
 (1) hold all sums held by it
for the payment of the principal of (and premium, if any) or interest (including Additional Interest) on the Securities of a series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise
disposed of as herein provided; 
  

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 (2) give the Trustee notice of any default by the Company (or any other obligor upon such Securities) in
the making of any payment of principal (and premium, if any) or interest (or Additional Interest) in respect of any Security of any series; 
 (3) at any time during the continuance of any default with respect to a series of Securities, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent with respect to such series;
and 
 (4) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent. 
 The Company may, at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company
Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent;
and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 
 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 (and premium, if any), and/or interest (including Additional Interest) on, any
Security and remaining unclaimed for two years after such principal (and premium, if any), and/or interest (including Additional Interest) has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or
abandoned or unclaimed property law) be paid on Company Request to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from
such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Company as trustee thereof, shall thereupon cease; provided, the Trustee or such Paying Agent, before being required to make any such repayment, may, at the expense of the Company, cause to be published once, in a newspaper published
in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan, the City of New York and in each Place of Payment, notice that such money remains unclaimed and that, after a date specified
therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
 SECTION 10.4. Statement as to Compliance. 
 The Company shall deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company ending after the date hereof, an Officers’ Certificate covering the preceding calendar year, stating whether or not to the best knowledge of the signers thereof the Company is 

  

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in default in the performance, observance or fulfillment of or compliance with any of the terms, provisions, covenants and conditions of this Indenture, and
if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. For the purpose of this Section 10.4, compliance shall be determined without regard to any grace period or
requirement of notice provided pursuant to the terms of this Indenture. 
 SECTION 10.5. Waiver of Certain Covenants. 
 Subject to the rights of holders of Capital Securities specified in Section 9.2, if any, the Company may omit in any particular instance to comply
with any covenant or condition provided pursuant to Section 3.1 with respect to the Securities of any series, if before or after the time for such compliance the Holders of at least a majority in aggregate principal amount of the Outstanding
Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant or condition except to
the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company in respect of any such covenant or condition shall remain in full force and effect. 
 SECTION 10.6. Additional Sums. 
 In the case of the
Securities of a series initially issued to an Issuer Trust, so long as no Event of Default has occurred and is continuing and except as otherwise specified as contemplated by Section 2.1 or Section 3.1, if (i) an Issuer Trust is the
Holder of all of the Outstanding Securities of such series, and (ii) a Tax Event has occurred and is continuing in respect of such Issuer Trust, the Company shall pay to such Issuer Trust (and its permitted successors or assigns under the
related Trust Agreement) for so long as such Issuer Trust (or its permitted successors or assigns) is the registered holder of the Outstanding Securities of such series, such additional sums as may be necessary in order that the amount of
Distributions (including any Additional Amounts (as defined in such Trust Agreement)) then due and payable by such Issuer Trust on its Capital Securities and Common Securities that at any time remain outstanding in accordance with the terms thereof
shall not be reduced as a result of such Additional Taxes (the “Additional Sums”). Whenever in this Indenture or the Securities there is a reference in any context to the payment of principal of or interest on the Securities, such
mention shall be deemed to include mention of the payments of the Additional Sums provided for in this paragraph to the extent that, in such context, Additional Sums are, were or would be payable in respect thereof pursuant to the provisions of this
paragraph and express mention of the payment of Additional Sums (if applicable) in any provisions hereof shall not be construed as excluding Additional Sums in those provisions hereof where such express mention is not made; provided, however, that
the deferral of the payment of interest pursuant to Section 3.12 on the Securities shall not defer the payment of any Additional Sums that may be due and payable. 
 SECTION 10.7. Additional Covenants. 
 The Company covenants and agrees with each Holder of Securities
of each series that it shall not (x) declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any shares of the Company’s capital stock, or (y)

  

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make any payment of principal of or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank pari
passu in all respects with or junior in interest to the Securities of such series (other than (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company in connection with any employment contract, benefit,
or incentive plan or other similar arrangement with or for the benefit of any one or more employees, officers, directors or consultants of the Company or its Subsidiaries, in connection with a dividend reinvestment or stock purchase plan or in
connection with capital stock of the Company (or securities convertible into or exercisable for such capital stock) issued as consideration in an acquisition transaction entered into prior to the applicable Extension Period or other event referred
to below, (b) as a result of an exchange or conversion of any class or series of the Company’s capital stock (or any capital stock of a Subsidiary of the Company) for any class or series of the Company’s capital stock or of any class
or series of the Company’s indebtedness for any class or series of the Company’s capital stock, (c) the purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions
of such capital stock or the security being converted or exchanged, (d) any declaration of a dividend in connection with any Rights Plan, or the issuance of rights, stock or other property under any Rights Plan, or the redemption or repurchase
of rights pursuant thereto, (e) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the
dividend is being paid or ranks pari passu with or junior to such stock or (f) payments by the Company under the Guarantee), if at such time (i) there shall have occurred any event (A) of which the Company has actual knowledge
that with the giving of notice or the lapse of time, or both, would constitute an Event of Default under Sections 5.1(1), (2), (3), (4) or (5) with respect to the Securities of such series, and (B) which the Company shall not have
taken reasonable steps to cure, (ii) if the Securities of such series are held by an Issuer Trust, the Company shall be in default with respect to its payment of any obligations under the Guarantee relating to the Capital Securities issued by
such Issuer Trust, (iii) the Company shall have given notice of its election to begin an Extension Period with respect to the Securities of such series as provided herein and shall not have rescinded such notice or shall not have paid all
interest then accrued and unpaid on the Securities (together with Additional Interest thereon, if any), in accordance with Section 3.12, or (iv) an Extension Period or any extension thereof shall be continuing. 
 The Company also covenants with each Holder of Securities of a series issued to an Issuer Trust (i) to hold, directly or indirectly, 100% of the
Common Securities of such Issuer Trust, provided that any permitted successor of the Company as provided under Section 8.2 may succeed to the Company’s ownership of such Common Securities, (ii) as holder of such Common
Securities, not to voluntarily terminate, wind up or liquidate such Issuer Trust, other than (a) in connection with a distribution of the Securities of such series to the holders of the related Capital Securities in liquidation of such Issuer
Trust, or (b) in connection with certain mergers, consolidations or amalgamations permitted by the related Trust Agreement, and (iii) to use its reasonable efforts, consistent with the terms and provisions of such Trust Agreement, to cause
such Issuer Trust to continue to be taxable as a grantor trust for United States Federal income tax purposes. 
  

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 SECTION 10.8. Furnishing Information. 
 The Company shall deliver to each Holder (1) each Report on Form 10-K and Form 10-Q prepared by the Company and filed with the Commission in
accordance with the Exchange Act within 7 days after the filing thereof, (2) if the Company is not then (y) subject to Section 13 or 15(d) of the Exchange Act or (z) exempt from reporting pursuant to Rule 12g3-2(b) thereunder,
the Company shall be required to provide within 45 days of the end of each calendar quarterly period and 90 days after the end of each calendar year, the information required to be provided by Rule 144A(d)(4) under the Securities Act and
(3) within 30 days after the end of the fiscal year of the Company, Form 1099 or such other annual U.S. federal income tax information statement required by the Code containing such information with regard to the Securities held by such Holder
as is required by the Code and the income tax regulations of the U.S. Treasury thereunder. 
 ARTICLE XI 
 REDEMPTION OF SECURITIES 
 SECTION 11.1.
Applicability of This Article. 
 Redemption of Securities of any series as permitted or required by the terms of any form of Security
issued pursuant to this Indenture shall be made in accordance with the terms of such form of Security and this Article; provided, however, if any provision of any such form of Security shall conflict with any provision of this Article, the
provision of such form of Security shall govern. Any redemption of any Security prior to its Stated Maturity shall also be subject to prior notice, and approval of (or notice of intent not to disapprove of) the redemption, if then required by the
capital adequacy rules or otherwise by the Texas or Oklahoma Departments of Insurance or any other applicable regulatory authority. 
 SECTION 11.2.
Election to Redeem; Notice to Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by or pursuant to a
Board Resolution. In case of any redemption at the election of the Company, the Company shall, not less than 30 nor more than 60 days prior to the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee
and, in the case of Securities of a series held by an Issuer Trust, the Property Trustee under the related Trust Agreement, of such date and of the principal amount of Securities of the applicable series to be redeemed and provide the additional
information required to be included in the notice or notices contemplated by Section 11.4; provided that, in the case of any series of Securities initially issued to an Issuer Trust, for so long as such Securities are held by such Issuer
Trust, such notice shall be given not less than 45 nor more than 75 days prior to such Redemption Date (unless a shorter notice shall be satisfactory to the Property Trustee under the related Trust Agreement). In the case of any redemption of
Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities, the Company shall furnish the Trustee with an Officers’ Certificate and an Opinion of Counsel evidencing compliance with such
restriction. 
  

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 SECTION 11.3. Selection of Securities to be Redeemed. 
 If less than all the Securities of any series are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior
to the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of a
portion of the principal amount of any Security of such series, provided that the unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be less than the minimum authorized
denomination) for such Security. 
 The Trustee shall promptly notify the Company in writing of the Securities selected for partial
redemption and the principal amount thereof to be redeemed. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Security redeemed or to
be redeemed only in part, to the portion of the principal amount of such Security that has been or is to be redeemed. 
 SECTION 11.4. Notice of
Redemption. 
 Notice of redemption shall be given by first-class mail, postage prepaid, mailed not later than 30 days, and not earlier
than 60 days, prior to the Redemption Date, to each Holder of Securities to be redeemed, at the address of such Holder as it appears in the Securities Register. 
 With respect to Securities of such series to be redeemed, each notice of redemption shall state: 
 (a) the
Redemption Date; 
 (b) the Redemption Price or, if the Redemption Price cannot be calculated prior to the time the notice is required to be
sent, the estimate of the Redemption Price provided pursuant to the Indenture together with a statement that it is an estimate and that the actual Redemption Price will be calculated on the third Business Day prior to the Redemption Date (if such an
estimate of the Redemption Price is given, a subsequent notice shall be given as set forth above setting forth the Redemption Price promptly following the calculation thereof); 
 (c) if less than all Outstanding Securities of such particular series are to be redeemed, the identification (and, in the case of partial redemption, the
respective principal amounts) of the particular Securities to be redeemed; 
 (d) that, on the Redemption Date, the Redemption Price will
become due and payable upon each such Security or portion thereof, and that interest thereon (including Additional Interest, if any), if any, shall cease to accrue on and after said date; 
 (e) the Place or Places of Payment where such Securities are to be surrendered for payment of the Redemption Price; 
 (f) such other provisions as may be required in respect of the terms of a particular series of Securities; 
  

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 (g) that the redemption is for a sinking fund, if such is the case; and 
 (h) the CUSIP number, if any. 
 Notice of
redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company and shall be irrevocable. The notice, if mailed in
the manner provided above, shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, a failure to give such notice by mail or any defect in the notice to the Holder of any Security
designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Security. 
 SECTION
11.5. Deposit of Redemption Price. 
 Prior to 10:00 A.M. Eastern Time, on the Redemption Date specified in the notice of redemption given
as provided in Section 11.4, the Company will deposit with the Trustee or with one or more Paying Agents (or if the Company is acting as its own Paying Agent, the Company will segregate and hold in trust as provided in Section 10.3) an
amount of money sufficient to pay the Redemption Price of, and any accrued interest (including Additional Interest) on, all the Securities (or portions thereof) that are to be redeemed on that date. 
 SECTION 11.6. Payment of Securities Called for Redemption. 
 If any notice of redemption has been given as provided in Section 11.4, the Securities or portion of Securities with respect to which such notice has been given shall become due and payable on the date and at each Place of Payment
stated in such notice at the applicable Redemption Price, together with accrued interest (including Additional Interest, if any) to the Redemption Date. On presentation and surrender of such Securities duly endorsed or accompanied by written
instruments of transfer executed by the Holder or its duly authorized attorney, in form satisfactory to the Company, the Trustee and the Securities Registrar, at a Place of Payment in said notice specified, the said Securities or the specified
portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price, together with accrued interest (including Additional Interest, if any) to the Redemption Date; provided, however, unless otherwise specified as
contemplated by Section 3.1, installments of interest (including Additional Interest) whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant record dates according to their terms and the provisions of Section 3.8. 
 Upon presentation of any Security redeemed in part only, duly endorsed or accompanied by written instrument of transfer executed by the Holder or its duly authorized attorney, in form satisfactory to the Company, the Trustee and the
Securities Registrar, the Company shall execute and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Security or Securities of the same series, of authorized denominations, in an aggregate
principal amount equal to the unredeemed portion of the Security so presented and having the same Original Issue Date, Stated Maturity and terms. 
  

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 Unless the Company fails to deposit or pay the Redemption Price, together with accrued interest
(including Additional Interest, if any), upon the Redemption Date the Securities to be redeemed shall no longer be Outstanding and no interest (including Additional Interest, if any) shall accrue thereon, and upon receipt of any certification
representing the redeemed Securities shall be cancelled as provided in Section 3.10. If any Security called for redemption shall not be so paid under surrender thereof for redemption, the principal of and premium, if any, on such Security
shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
 SECTION 11.7. Right of Redemption of
Securities Initially Issued to an Issuer Trust. 
 In the case of the Securities of a series initially issued to an Issuer Trust, except
as otherwise specified by Section 3.1, the Company, at its option, may redeem such Securities (i) on or after the date specified in such Security, in whole at any time or in part from time to time, or (ii) upon the occurrence and
during the continuation of a Tax Event or an Investment Company Event, at any time within 120 days following the occurrence and during the continuation of such Tax Event or Investment Company Event, in whole (but not in part), in each case at a
Redemption Price specified in such Security, together with accrued interest (including Additional Interest, if any) to the Redemption Date. 
 If less than all the Securities of any such series are to be redeemed, the aggregate principal amount of such Securities remaining Outstanding after giving effect to such redemption shall be sufficient to satisfy any provisions of the Trust
Agreement related to the Issuer Trust to which such Securities were issued, including any requirement in such Trust Agreement as to the minimum Liquidation Amount (as defined in such Trust Agreement), if any, of Capital Securities that may be held
by a holder under such Trust Agreement. 
 Notwithstanding any provision of this Article XI or any other provision of this Indenture, each
redemption of any Security is subject to Article XIII. 
 ARTICLE XII 
 SINKING FUNDS 
 Except as may be provided in any supplemental or amended
indenture, no sinking fund shall be established or maintained for the retirement of Securities of any series. 
  

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 ARTICLE XIII 
 SUBORDINATION OF SECURITIES 
 SECTION 13.1. Securities Subordinate to Senior Indebtedness.

 The Company covenants and agrees, and each Holder of a Security, by its acceptance thereof, likewise covenants and agrees, that, to the
extent and in the manner hereinafter set forth in this Article, the payment of the principal of (and premium, if any) and interest (including Additional Interest, if any) on each and all of the Securities of each and every series are hereby
expressly made subordinate and junior to and subject in right of payment to the prior payment in full of all Senior Indebtedness, and the Securities of each and every series issued initially to an Issuer Trust shall be pari passu with all
other Securities issued initially hereunder to Issuer Trusts. 
 SECTION 13.2. No Payment When Senior Indebtedness in Default; Payment Over of Proceeds
Upon Dissolution, Etc. 
 If the Company shall default in the payment of any principal of (or premium, if any) or interest on any
Senior Indebtedness when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration of acceleration or otherwise, then, upon written notice of such default to the Company by the holders of Senior
Indebtedness or any trustee therefor, unless and until such default shall have been cured or waived or shall have ceased to exist, no direct or indirect payment (in cash, property, securities, by set-off or otherwise) shall be made or agreed to be
made on account of the principal of (or premium, if any) or interest (including Additional Interest, if any) on any of the Securities, or in respect of any redemption, repayment, retirement, purchase or other acquisition of any of the Securities.

 In the event of (i) any insolvency, bankruptcy, receivership, conservatorship, liquidation, reorganization, readjustment, composition
or other similar proceeding relating to the Company, its creditors or its property, (ii) any proceeding for the liquidation, dissolution or other winding-up of the Company, voluntary or involuntary, whether or not involving insolvency or
bankruptcy proceedings, (iii) any assignment by the Company for the benefit of creditors or (iv) any other marshalling of the assets of the Company (each such event, if any, herein sometimes referred to as a “Proceeding”),
all Senior Indebtedness (including any interest thereon accruing after the commencement of any such proceedings) shall first be paid in full in accordance with the terms of the agreements governing such Senior Indebtedness and all commitments to
extend or create Senior Indebtedness shall be terminated before any payment or distribution, whether in cash, securities or other property, shall be made to any Holder of any of the Securities on account thereof. Any payment or distribution, whether
in cash, securities or other property (other than securities of the Company or any other entity provided for by a plan of reorganization or readjustment, the payment of which is subordinate, at least to the extent provided in these subordination
provisions with respect to the indebtedness evidenced by the Securities, to the payment of all Senior Indebtedness at the time outstanding and to any securities issued in respect thereof under any such plan of reorganization or readjustment), which
would otherwise (but for these subordination provisions) be payable or deliverable in respect of the Securities of any series shall be paid or delivered directly to the holders of Senior Indebtedness in accordance with 

  

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the priorities then existing among such holders until all Senior Indebtedness (including any interest thereon accruing after the commencement of any
Proceeding) shall have been paid in full. 
 In the event of any Proceeding, after payment in full of all sums owing with respect to Senior
Indebtedness in accordance with the terms of the agreements governing such Senior Indebtedness and the termination of all commitments to extend or create Senior Indebtedness, the Holders of the Securities, together with the holders of any
obligations of the Company ranking on a parity with the Securities, shall be entitled to be paid from the remaining assets of the Company the amounts at the time due and owing on account of unpaid principal of (and premium, if any) and interest
(including Additional Interest, if any) on the Securities and such other obligations before any payment or other distribution, whether in cash, property or otherwise, shall be made on account of any capital stock or any obligations of the Company
ranking junior to the Securities and such other obligations. 
 If, notwithstanding the foregoing, any payment or distribution of any
character or any security, whether in cash, securities or other property (other than securities of the Company or any other entity provided for by a plan of reorganization or readjustment, the payment of which is subordinate, at least to the extent
provided in these subordination provisions with respect to the indebtedness evidenced by the Securities, to the payment of all Senior Indebtedness at the time outstanding and to any securities issued in respect thereof under any plan of
reorganization or readjustment), shall be received by the Trustee or any Holder in contravention of any of the terms hereof and before all Senior Indebtedness shall have been paid in full in accordance with the terms of the agreements governing such
Senior Indebtedness and all commitments to extend or create Senior Indebtedness shall be terminated, such payment or distribution or security shall be received in trust for the benefit of, and shall be paid over or delivered and transferred to, the
holders of the Senior Indebtedness at the time outstanding in accordance with the priorities then existing among such holders for application to the payment of all Senior Indebtedness remaining unpaid, to the extent necessary to pay all such Senior
Indebtedness in full. In the event of the failure of the Trustee or any Holder to endorse or assign any such payment, distribution or security, each holder of Senior Indebtedness is hereby irrevocably authorized to endorse or assign the same.

 No present or future holder of any Senior Indebtedness shall be prejudiced in the right to enforce subordination of the indebtedness
evidenced by the Securities by any act or failure to act on the part of the Company, the Trustee or any Holder. Nothing contained herein shall impair, as between the Company and the Holders of Securities of each series, the obligation of the Company
to pay to such Holders the principal of (and premium, if any) and interest (including Additional Interest) on such Securities or prevent the Trustee or the Holder (or to the extent expressly provided herein, the holder of any Capital Securities)
from exercising all rights, powers and remedies otherwise permitted by applicable law or hereunder upon a default or Event of Default hereunder, all subject to the rights of the holders of the Senior Indebtedness to receive cash, securities or other
property otherwise payable or deliverable to the Holders. 
 Senior Indebtedness shall not be deemed to have been paid in full unless the
holders thereof shall have received cash, securities or other property equal to the amount of such Senior Indebtedness then outstanding in accordance with the terms of the agreements governing such Senior Indebtedness. 
  

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 The Company, the Trustee and the Holders shall take such action (including, without limitation, the
delivery of this Indenture to an agent for the holders of Senior Indebtedness or consent to the filing of a financing statement with respect hereto and acts and filings with respect to any Proceeding) as may, in the opinion of counsel designated by
the holders of a majority in principal amount of the Senior Indebtedness at the time outstanding, be necessary or appropriate to assure the effectiveness of the subordination effected by these provisions. 
 The provisions of this Section 13.2 shall not impair any rights, interests, remedies or powers of any secured creditor of the Company in respect of
any security interest the creation of which is not prohibited by the provisions of this Indenture. 
 The securing of any obligations of the
Company, otherwise ranking on a parity with the Securities or ranking junior to the Securities shall not be deemed to prevent such obligations from constituting, respectively, obligations ranking on a parity with the Securities or ranking junior to
the Securities. 
 SECTION 13.3. Payment Permitted If No Default. 
 Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any time, except during the pendency of the conditions described in the first
paragraph of Section 13.2 or of any Proceeding referred to in Section 13.2, from making payments at any time of principal of (and premium, if any) or interest (including Additional Interest) on the Securities, or (b) the application
by the Trustee of any monies deposited with it hereunder to the payment of or on account of the principal of (and premium, if any) or interest (including any Additional Interest) on the Securities or the retention of such payment by the Holders, if,
at the time of such application by the Trustee, the Trustee did not have knowledge that such payment would have been prohibited by the provisions of this Article. 
 SECTION 13.4. Subrogation to Rights of Holders of Senior Indebtedness; Etc. 
 Upon and following the payment in full of all
amounts due or to become due on all Senior Indebtedness in accordance with the terms of the agreements governing the Senior Indebtedness, or the provision for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the
holders of the applicable Senior Indebtedness and the termination of all commitments to extend or create Senior Indebtedness, the Holders of the Securities of each series shall be subrogated to all rights of the holders of such Senior Indebtedness
(equally and ratably with the holders of all indebtedness of the Company that by its express terms is subordinated to Senior Indebtedness of the Company to substantially the same extent as the Securities of such series are subordinated to the Senior
Indebtedness and is entitled to like rights of subrogation by reason of any payments or distributions made to holders of such Senior Indebtedness) to receive any further payments and distributions of cash, property and securities applicable to the
Senior Indebtedness until the principal of (and premium if any) and interest (including Additional Interest) on the Securities of such series, if any, shall be paid in full. No 

  

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payments or distributions to the holders of the Senior Indebtedness of any cash, property or securities to which the Holders of the Securities of each series
or the Trustee would be entitled except for the provisions of this Article XIII, and no payments over pursuant to the provisions of this Article XIII to or for the benefit of the holders of Senior Indebtedness by Holders of the Securities or the
Trustee, shall, as among the Company, its creditors other than holders of Senior Indebtedness, and the Holders of the Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Indebtedness. 
 SECTION 13.5. Provisions Solely to Define Relative Rights. 
 The provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this
Article or elsewhere in this Indenture or in the Securities is intended to or shall: (a) impair, as between the Company and the Holders of the Securities, the obligations of the Company, which are absolute and unconditional, to pay to the
Holders of the Securities the principal of (and premium, if any) and interest (including any Additional Interest) on the Securities as and when the same shall become due and payable in accordance with their terms; or (b) affect the relative
rights against the Company of the Holders of the Securities and creditors of the Company other than their rights in relation to the holders of Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security (or to the extent
expressly provided herein, the holder of any Capital Security) from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, including filing and voting claims in any Proceeding, subject to the rights, if any,
under this Article of the holders of Senior Indebtedness to receive cash, property and securities otherwise payable or deliverable to the Trustee or such Holder. 
 SECTION 13.6. Trustee to Effectuate Subordination. 
 Each Holder of a Security by his or her acceptance thereof authorizes
and directs the Trustee on his or her behalf to take such action (including any act or filing with respect to any Proceeding) as may be necessary or appropriate to acknowledge or effectuate the subordination provided in this Article and appoints the
Trustee his or her attorney-in-fact for any and all such purposes. 
 SECTION 13.7. No Waiver of Subordination Provisions. 
 No right of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be prejudiced
or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms, provisions and covenants of this Indenture, regardless of
any knowledge thereof that any such holder may have or be otherwise charged with. 
 Without in any way limiting the generality of the
immediately preceding paragraph, the holders of Senior Indebtedness may, at any time and from time to time, without the consent of or notice to the Company, the Trustee or the Holders of the Securities of any series, without 

  

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incurring responsibility to the Company, the Trustee or such Holders of the Securities and without impairing or releasing the subordination provided in this
Article or the obligations hereunder of the Company, the Trustee or such Holders of the Securities to the holders of Senior Indebtedness, do any one or more of the following: (i) create Senior Indebtedness, (ii) change the manner, place or
terms of payment or extend the time of payment of, or renew or alter, Senior Indebtedness, or otherwise amend or supplement in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness is
outstanding, (iii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness, (iv) release any Person liable in any manner for the collection of Senior Indebtedness, and
(v) exercise or refrain from exercising any rights against the Company and any other Person; and Senior Indebtedness shall continue to be Senior Indebtedness entitled to the benefits of the subordination provisions of this Article XIII. The
Company, the Trustee and each Holder waive notice of each event described in the preceding sentence. 
 SECTION 13.8. Notice to Trustee. 

The Company shall give prompt written notice to a Responsible Officer of the Trustee of any fact known to the Company that would prohibit the making of
any payment to or by the Trustee in respect of the Securities. Notwithstanding the provisions of this Article or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit
the making of any payment to or by the Trustee in respect of the Securities, unless and until a Responsible Officer of the Trustee shall have received written notice thereof from the Company or a holder of Senior Indebtedness or from any trustee,
agent or representative therefor; provided, however, if the Trustee shall not have received the notice provided for in this Section at least two Business Days prior to the date upon which by the terms hereof any monies may become payable for
any purpose (including, the payment of the principal of (and premium, if any, on) or interest (including any Additional Interest) on any Security), then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power
and authority to receive such monies and to apply the same to the purpose for which they were received and shall not be affected by any notice to the contrary that may be received by it within two Business Days prior to such date. 
 Subject to the provisions of Section 6.1, the Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing
himself or herself to be a holder of Senior Indebtedness (or a trustee or attorney-in-fact therefor) to establish that such notice has been given by a holder of Senior Indebtedness (or a trustee or attorney-in-fact therefor). The Trustee shall
immediately notify the Company by telephone of the receipt of any such notice. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to
participate in any payment or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to
which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article, and if such evidence is not furnished, the Trustee may defer any payment to such Person
pending judicial determination as to the right of such Person to receive such payment or receipt by the Trustee of information reasonably satisfactory to the Trustee evidencing the right of such Person to receive such payment. 
  

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 SECTION 13.9. Reliance on Judicial Order or Certificate of Liquidating Agent. 
 Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee, subject to the provisions of Section 6.1, and the
Holders of the Securities shall be entitled to rely upon any order or decree entered by any court of competent jurisdiction in which such Proceeding is pending, or a certificate of the trustee in bankruptcy, receiver, conservator, liquidating
trustee, custodian, assignee for the benefit of creditors, agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of Securities, for the purpose of ascertaining the Persons entitled to participate in
such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this
Article. 
 SECTION 13.10. Trustee Not Fiduciary for Holders of Senior Indebtedness. 
 The Trustee, in its capacity as trustee under this Indenture, shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and
shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute to Holders of Securities or to the Company or to any other Person cash, property or securities to which any holders of Senior Indebtedness shall be
entitled by virtue of this Article or otherwise; provided that, this Section 13.10 shall not relieve any Holder of Securities of its obligation to turn over to the holders of Senior Indebtedness any payments made to any such Holder of
Securities in violation of this Indenture. 
 SECTION 13.11. Rights of Trustee as Holder of Senior Indebtedness; Preservation of Trustee’s
Rights. 
 The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article with respect to any Senior
Indebtedness that may at any time be held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder. 
 SECTION 13.12. Article Applicable to Paying Agents. 
 In case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the term “Trustee” as used in this Article shall in such case (unless the context otherwise
requires) be construed as extending to and including such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent were named in this Article in addition to or in place of the Trustee. 
  

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 SECTION 13.13. Certain Conversions or Exchanges Deemed Payment. 
 For purposes of this Article only, (a) the issuance and delivery of junior securities upon conversion or exchange of Securities of any series shall
not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any, on) or interest (including any Additional Interest) on such Securities or on account of the purchase or other acquisition of such Securities,
and (b) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security of any series shall be deemed to constitute payment on account of the principal of such security.
For the purposes of this Section, the term “junior securities” means (i) shares of capital stock of any class of the Company, and (ii) securities of the Company that are subordinated in right of payment to all Senior
Indebtedness that may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article. 
 * * * * 
 This instrument may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Indenture and of signature pages by facsimile or
electronic transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto, and may be used in lieu of the original signature pages to this Indenture for all purposes. 
 [Remainder of page left intentionally blank; signatures appear on following page.] 
  

 - 72 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, and their
respective corporate seals to be hereunto affixed and attested, all as of the day and year first above written. 
  

			
	 GAINSCO, INC.

		
	By:	 	 /s/ Glenn W. Anderson

	Name:	 	Glenn W. Anderson
	Title:	 	President and Chief Executive Officer

  

	
	 ATTEST:

	
	 /s/ John S. Daniels

	 John S. Daniels

	 Secretary

	
	 [CORPORATE SEAL]

  

			
	 U.S. BANK NATIONAL ASSOCIATION, individually and as Trustee,

		
	By:	 	 /s/ Paul D. Allen

	Name:	 	Paul D. Allen
	Title:	 	Vice President

  

 - 73 - 

 EXHIBIT A 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE OR OTHER JURISDICTION’S
SECURITIES OR BLUE SKY LAWS, AND NO SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, ASSIGNED, PLEDGED, HYPOTHECATED OR DISPOSED OF ABSENT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH OTHER
APPLICABLE SECURITIES OR BLUE SKY LAWS COVERING SUCH SECURITIES OR UNLESS SUCH TRANSFER IS MADE IN ACCORDANCE WITH AN AVAILABLE EXEMPTION UNDER THE SECURITIES ACT, WHICH MAY INCLUDE EXEMPTIONS UNDER REGULATION S, RULE 144A, RULE 144 OR ANY OTHER
AVAILABLE EXEMPTION UNDER THE SECURITIES ACT, AND ANY OTHER APPLICABLE SECURITIES OR BLUE SKY LAWS, AND THE COMPANY RECEIVES AN OPINION OF COUNSEL FROM THE HOLDER OF THESE SECURITIES REASONABLY SATISFACTORY TO THE COMPANY STATING THAT SUCH OFFER,
SALE, TRANSFER, ASSIGNMENT, PLEDGE, HYPOTHECATION, OR DISPOSITION IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ANY OTHER APPLICABLE SECURITIES OR BLUE SKY LAWS. 
 THIS SECURITY IS NOT A DEPOSIT OR AN OBLIGATION OF ANY DEPOSITORY INSTITUTION, IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY
GOVERNMENT AGENCY, AND IS NOT SECURED. 
 GAINSCO, INC. 
 FLOATING RATE 
 JUNIOR SUBORDINATED DEBENTURES 
 DUE MARCH 15, 2037 
  

							
		  		  		  	Aggregate Principal Amount
	Certificate No. -001-	  		  		  	 $18,557,000

 GAINSCO, INC., a Texas corporation (the “Company,” which term includes any
successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Property Trustee of GAINSCO STATUTORY TRUST II, a statutory
trust created under the laws of the State of Connecticut, or registered assigns, the principal sum of EIGHTEEN MILLION FIVE HUNDRED FIFTY-SEVEN THOUSAND AND NO/100 DOLLARS ($18,557,000) on March 15, 2037; provided that the Company
may shorten the Stated Maturity of the principal of this Security to a date not earlier than March 15, 2012, 

  

 - A-1 - 

 
subject to redemption by the Company as provided in Section 11.7 of the Indenture, but in no event shall the Stated Maturity be a date later than
March 15, 2037. The Company further promises to pay interest on said principal from the date of issuance, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly (subject to deferral as set
forth herein) in arrears on March 15, June 15, September 15, and December 15 of each year, except that if any such date falls on a day that is not a Business Day, the Company promises to pay interest on the next
succeeding Business Day, unless such Business Day is in the next succeeding calendar year, in which case the Company promises to pay interest on the immediately preceding Business Day (each, a “Distribution Date”), commencing
March 15, 2007, at the floating rate per annum, reset quarterly on each Distribution Date for the next succeeding quarter, equal to the 3-Month LIBOR for the last London banking day (which is any day in which dealings in deposits in U.S.
dollars are transacted in the London interbank market) of each of March, June, September and December, as applicable (each, a “Determination Date”), plus 3.75% (the “Floating Rate”) on the principal amount
outstanding hereunder, together with Additional Sums, if any, as provided in Section 10.6 of the Indenture, until the principal hereof is paid or duly provided for or made available for payment. Any principal, premium or Additional Sums and any
overdue installment of interest not paid when due shall bear Additional Interest at the Floating Rate (to the extent that the payment of such interest shall be legally enforceable), compounded quarterly, from the dates such amounts are due until
they are paid or made available for payment. The amount of interest payable for any full quarterly period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of interest payable for any period less than a
full quarter shall be computed on the basis of a 360-day year and the actual number of days elapsed during that period. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the
Indenture, be paid to the Holder at the close of business on the Regular Record Date for such interest installment. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Holder registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee (notice whereof shall be given to Holders of Securities of this
series not less than 10 days prior to such Special Record Date) or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, on which the Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
 “3-Month LIBOR”
means the London interbank offered rate for three-month, U.S. dollar deposits determined by the Indenture Trustee, with respect to the particular quarterly period, in the following order of priority: 
 (i) the rate (expressed as a percentage per annum) for U.S. dollar deposits of an amount equal or comparable to the aggregate liquidation amount of the
Securities having a three-month maturity that appears on Telerate Page 3750 as of 11:00 a.m. (London time) on the particular Determination Date. “Telerate Page 3750” means the display designated as “Page 3750” on the Dow Jones
Telerate Service or such other page as may replace Page 3750 on that service or such other service or services as may be nominated by the British Bankers’ Association as the information vendor for the purpose of displaying London interbank
offered rates for U.S. dollar deposits; 
 (ii) if such rate cannot be identified on the related Determination Date, the Indenture Trustee
will request the principal London offices of four leading banks in the London interbank market to provide such banks’ offered quotations (expressed as percentages per annum) to prime banks in the London interbank market for U.S. dollar deposits
of an amount equal or comparable to the aggregate liquidation amount of the Securities having a three-month maturity as of 11:00 a.m. (London time) on such Determination Date. If at least two quotations are provided, 3-Month LIBOR will be the
arithmetic mean of such quotations; 
  

 - A-2 - 

 (iii) if fewer than two such quotations are provided as requested in clause (ii) above, the
Indenture Trustee will request four major New York City banks to provide such banks’ offered quotations (expressed as percentages per annum) to leading European banks for loans in U.S. dollars of an amount equal or comparable to the aggregate
liquidation amount of the Securities as of 11:00 a.m. (London time) on such Determination Date. If at least two such quotations are provided, 3-Month LIBOR will be the arithmetic mean of such quotations; and 
 (iv) if fewer than two such quotations are provided as requested in clause (iii) above, 3-Month LIBOR will be a 3-Month LIBOR determined with
respect to the quarterly period immediately preceding such current quarterly period. 
 If the rate for U.S. dollar deposits having a
three-month maturity that initially appears on Telerate Page 3750 or Reuters Page LIBO, as the case may be, as of 11:00 a.m. (London time) on the related Determination Date is superseded on the Telerate page 3750 or Reuters Page LIBO, as the case
may be, by a corrected rate by 12:00 noon (London time) on such Determination Date, then the corrected rate as so substituted on the applicable page will be the applicable 3-Month LIBOR for such Determination Date. 
 So long as no Event of Default has occurred and is continuing, the Company shall have the right as provided in Section 3.12 of the Indenture, at any
time during the term of this Security, from time to time to defer the payment of interest on this Security for up to 20 consecutive quarterly interest payment periods with respect to each deferral period (each, an “Extension
Period”), during which Extension Periods the Company shall have the right to make no payments or partial payments of interest on any Interest Payment Date, and at the end of which the Company shall pay all interest then accrued and unpaid
including Additional Interest, as provided below; provided, however, that no Extension Period shall extend beyond the Stated Maturity of the principal of this Security and no such Extension Period may end on a date other than an Interest
Payment Date; and provided, further, however, that during any such Extension Period, the Company shall not (i) declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to,
any of the Company’s capital stock, or (ii) make any payment of principal or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank pari passu in all respects with or junior in
interest to this Security (other than (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company in connection with any employment contract, benefit or incentive plan or other similar arrangement with or for
the benefit of any one or more employees, officers, directors or consultants of the Company or any of its subsidiaries, in connection with a dividend reinvestment or stock purchase plan or in connection with capital stock of the Company (or
securities convertible into or exercisable for such capital stock) issued as consideration in an acquisition transaction entered into prior to the applicable Extension Period, (b) as a result of an exchange or conversion of any class or series
of the Company’s capital stock (or any capital stock of a Subsidiary of the Company) for any class or series of the Company’s capital stock or of any class or series of the Company’s indebtedness for any class or series of the
Company’s capital stock, (c) the purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged,
(d) any declaration of a dividend in connection with any Rights Plan, or the issuance of rights, stock or other property under any Rights Plan, or the redemption or repurchase of rights pursuant thereto, (e) any dividend in the form of
stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks pari passu with or junior
to such stock or (f) payments by the Company under the Guarantee). Prior to the termination of any such Extension Period, the Company may further defer the payment of interest, provided that no Event of Default has 

  

 - A-3 - 

 
occurred and is continuing and provided further, that no Extension Period shall exceed 20 consecutive quarterly interest payment periods, extend
beyond the Stated Maturity of the principal of this Security or end on a date other than an Interest Payment Date. Upon the termination of any such Extension Period and upon the payment of all accrued and unpaid interest and any Additional Interest
then due on any Interest Payment Date, the Company may elect to begin a new Extension Period, subject to the above conditions. No interest shall be due and payable during an Extension Period, except at the end thereof, but each installment of
interest that would otherwise have been due and payable during such Extension Period shall bear Additional Interest (to the extent that the payment of such interest shall be legally permissible) at the Floating Rate per annum, compounded quarterly
and calculated as set forth in the first paragraph of this Security, from the date on which such amounts would otherwise have been due and payable until paid or made available for payment. The Company shall give the Holders of this Security and the
Trustee notice of its election to begin any Extension Period at least one Business Day prior to the next succeeding Interest Payment Date on which interest on this Security would be payable but for such deferral, or so long as Capital Securities are
held by the Issuer Trust, at least one Business Day prior to the earlier of (i) the next succeeding date on which Distributions on the Capital Securities of such Issuer Trust would be payable but for such deferral, and (ii) the record date
for determining the holders of such Capital Securities entitled to such Distributions on the Capital Securities. 
 Payment of the principal
of (and premium, if any) and interest on this Security will be made at the office or agency of the Company maintained for that purpose in the United States, 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, which unless otherwise changed by the Company shall be the Corporate Trust Office. 
 The
indebtedness evidenced by this Security is, to the extent provided in the Indenture, subordinate and subject in right of payments to the prior payment in full of all Senior Indebtedness, and this Security is issued subject to the provisions of the
Indenture with respect thereto. Each Holder of this Security, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on his or her behalf to take such actions as may be necessary
or appropriate to effectuate the subordination so provided, and (c) appoints the Trustee his or her attorney-in-fact for any and all such purposes. Each Holder hereof, by his or her acceptance hereof, waives all notice of the acceptance of the
subordination provisions contained herein and in the Indenture by each holder of Senior Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have
the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred
to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  

 - A-4 - 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

  

					
		 	GAINSCO, INC.
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	President and Chief Executive Officer

  

	
	Attest:
	
	  

	Secretary
	
	[CORPORATE SEAL]

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

  

					
	Dated:                     	 	U.S. BANK NATIONAL ASSOCIATION
not in its individual capacity, but solely as Trustee
			
		 	By:	 	  

		 		 	Authorized Signatory

  

 - A-5 - 

 Reverse of Security 
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under the Junior Subordinated Indenture,
dated as of December 21, 2006 (herein called the “Indenture”), between the Company and U.S. Bank National Association, as Trustee (herein called the “Trustee,” which term includes any successor trustee under
the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee, the holders of Senior
Indebtedness and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, and is limited to the aggregate principal
amount of $18,557,000. 
 All terms used but not defined in this Security, shall have the respective meanings provided in the Indenture or in
the Amended and Restated Trust Agreement, dated as of December 21, 2006 (as modified, amended or supplemented from time to time the “Trust Agreement”), relating to GAINSCO Statutory Trust II (“Issuer Trust”),
among the Company, as Depositor, the Issuer Trustees named therein, the Administrators named therein, and the Holders from time to time of the Trust Securities issued pursuant thereto. 
 The Company has the right to redeem this Security (i) on or after March 15, 2012 in whole at any time or in part from time to time, or
(ii) in whole (but not in part), at any time within 120 days following the occurrence and during the continuation of a Tax Event or Investment Company Event, in each case at the Redemption Price described below. The redemption of Securities of
any series as permitted or required by the terms of this Certificate or the Indenture shall be made in accordance with the terms of this Certificate and Article XI of the Indenture; provided, however, that if any provision of this Certificate
shall conflict with any provision of such Article XI, the provision of this Certificate shall govern. Any redemption of any Security prior to its Stated Maturity shall also be subject to prior notice, and approval of (or notice of intent not to
disapprove) the redemption, if then required by the capital adequacy rules or otherwise by the Texas or Oklahoma Departments of Insurance or any other applicable regulatory agency. 
 The Redemption Price in the case of redemption under clause (i) or (ii) in the preceding paragraph shall mean a price equal to the Liquidation
Amount of the Securities to be redeemed, together with accumulated Distributions to, but excluding, the Redemption Date. 
 In the event of
redemption of this Security in part only, a new Security or Securities of this series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 The Indenture permits, with certain exceptions as provided therein, the Company and the Trustee at any time to enter into a supplemental indenture or
indentures for the purpose of modifying in any manner the rights and obligations of the Company and of the Holders of the Securities, with the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding
Securities of each series to be affected by such supplemental indenture. The Indenture also contains provisions permitting Holders of specified percentages in aggregate principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of
this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Security. 
  

 - A-6 - 

 As provided in and subject to the provisions of the Indenture, if an Event of Default with respect to the
Securities of this series at the time Outstanding 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 Securities of this series may declare the
principal amount of all the Securities of this series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), provided that, if the Outstanding Securities have been issued to and are
held by an Issuer Trust, and if upon an Event of Default, the Trustee or such Holders fail to declare the principal of all the Outstanding Securities of this series to be immediately due and payable, the Holders of at least 25% in aggregate
Liquidation Amount of the related series of Capital Securities issued by the Issuer Trust then outstanding shall have the right to make such declaration by a notice in writing to the Company and the Trustee; and upon any such declaration, the
principal amount of and the accrued interest (including Additional Interest, if any) on all the Securities of this series shall become immediately due and payable, provided that the payment of principal and interest (including any Additional
Interest) on such Securities shall remain subordinated to the extent provided in Article XIII of the Indenture. 
 No reference herein
to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest (including Additional
Interest) on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and
subject to certain limitations set forth therein, the transfer of this Security is registrable in the Securities Register, upon surrender of this Security for registration of transfer at the office or agency of the Company maintained under
Section 10.2 of the Indenture for such purpose, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Securities Registrar duly executed by, the Holder hereof or such Holder’s
attorney duly authorized in writing, and thereupon one or more new Securities of this series, of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

 The Securities of this series are issuable only in registered form without coupons in minimum denominations of $1,000 and integral
multiples of $1,000 in excess thereof. To the fullest extent permitted by applicable law, any transfer, exchange or other disposition of Securities in contravention of Section 3.6(b)(v) of the Indenture shall be deemed to be void and of no
legal effect whatsoever, any such transferee shall be deemed not to be the Holder or owner of any beneficial interest in such Securities for any purpose, including but not limited to the receipt of interest payable on such Securities, and such
transferee shall be deemed to have no interest whatsoever in such Securities. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of
Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 In
the event of a distribution of the Securities to holders of the Trust Securities, as provided in Section 9.4 of the Trust Agreement, the Securities will be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess
thereof to holders of the Common Securities issued by the Issuer Trust, and in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof to holders of the Capital Securities issued by the Issuer Trust. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith. 
  

 - A-7 - 

 Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any
agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be
affected by notice to the contrary. 
 The Company and, by its acceptance of this Security or a beneficial interest therein, the Holder of,
and any Person that acquires a beneficial interest in, this Security, each agrees that for United States Federal, state and local tax purposes it is intended that this Security constitute indebtedness and shall be treated as such. 
 THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS. 
  

 - A-8 - 

 EXHIBIT B 
 RESTRICTED SECURITIES CERTIFICATE 
 (For transfers pursuant to § 3.6(b) of the Indenture)

 U.S. Bank National Association, 
 as Security Registrar

 One Federal Street, 3rd Floor 
 Boston, Massachusetts 02110 
 Attention: Corporate Trust Services 
  

			
	 Re:
	  	Floating Rate Junior Subordinated Debentures Due March 15, 2037 (“Junior Subordinated Debentures”) of Gainsco, Inc. (the “Company”)

 Reference is made to the Junior Subordinated Indenture, dated as of December 21, 2006 (the
“Indenture”), among the Company and U.S. Bank National Association, as Trustee (as defined therein). Terms used herein and defined in the Junior Subordinated Indenture or in Regulation D, Rule 144A or Rule 144 under the U.S.
Securities Act of 1933 (the “Securities Act”) are used herein as so defined. 
 This certificate relates to
$             aggregate Liquidation Amount of Junior Subordinated Debentures, which are evidenced by the following certificate(s) (the “Specified Securities”):

 CUSIP No(s). 
 CERTIFICATE
No(s).                                  
 CURRENTLY IN BOOK-ENTRY FORM:         Yes         No (check
one) 
 The person in whose name this certificate is executed below (the “Undersigned”) hereby certifies that either (i) it is the sole
beneficial owner of the Specified Securities or (ii) it is acting on behalf of all the beneficial owners of the Specified Securities and is duly authorized by them to do so. Such beneficial owner or owners are referred to herein collectively as
the “Owner.” If the Specified Securities are represented by a Global Security, they are held through the Clearing Agency or a Clearing Agency Participant in the name of the Undersigned, as or on behalf of the Owner. If the Specified
Securities are not represented by a Global Security, they are registered in the name of the Undersigned, as or on behalf of the Owner. 
 The
Owner has requested that the Specified Securities be transferred to a person (the “Transferee”) who will take delivery in the form of a Restricted Security. In connection with such transfer, the Owner hereby certifies that, unless
such transfer is being effected pursuant to an effective registration statement under the Securities Act, it 

  

 - B-1 - 

 
is being effected in accordance with Rule 144A, Rule 904 or Rule 144 under the Securities Act or other exemption from registration under the Securities Act,
and all applicable securities laws of the states of the United States and other jurisdictions. Accordingly, the Owner hereby further certifies as follows: 
 1. Rule 144A Transfers. If the transfer is being effected in accordance with Rule 144A: 
 (A) the
Specified Securities are being transferred to a person that the Owner and any person acting on its behalf reasonably believe is a “qualified institutional buyer” within the meaning of Rule 144A, acquiring for its own account or for the
account of a qualified institutional buyer; and 
 (B) the Owner and any person acting on its behalf have taken reasonable steps to ensure
that the Transferee is aware that the Owner may be relying on Rule 144A in connection with the transfer; and 
 2. Rule 904 Transfers.
If the transfer is being effected in accordance with Rule 904: 
 (A) the Owner is not a distributor of the Securities, an affiliate of the
Company or the Issuer Trust or any such distributor or a person acting on behalf of any of the foregoing; 
 (B) the offer of the Specified
Securities was not made to a person in the United States; 
 (C) either: 
  

	 	(i)	at the time the buy order was originated, the Transferee was outside the United States or the Owner and any person acting on its behalf reasonably believed that the Transferee was
outside the United States, or 

  

	 	(ii)	the transaction is being executed in, on or through the facilities of the Eurobond market, as regulated by the Association of International Bond Dealers, or another designated
offshore securities market and neither the Owner nor any person acting on its behalf knows that the transaction has been prearranged with a buyer in the United States; 

 (D) no directed selling efforts within the meaning of Rule 902 of Regulation S have been made in the United States by or on behalf of the Owner or any
affiliate thereof; and 
  

 - B-2 - 

 (E) the transaction is not part of a plan or scheme to evade the registration requirements of the
Securities Act. 
 3. Rule 144 Transfers. If the transfer is being effected pursuant to Rule 144: 
 (A) the transfer is occurring after a holding period of at least one year (computed in accordance with paragraph (d) of Rule 144 or such shorter time
as may be provided therein) has elapsed since the date the Specified Securities were acquired from the Company or the Issuer Trust or from an affiliate (as such term is defined in Rule 144) of the Company or the Issuer Trust, with the full amount of
the purchase price paid at the date of purchase, whichever is later, and is being effected in accordance with the applicable amount, manner of sale and notice requirements of paragraphs (c), (e), (f) and (h) of Rule 144; or 
 (B) the transfer is occurring after a holding period of at least two years (or such shorter time as may be provided in Rule 144(k) has elapsed since the
date the Specified Securities were acquired from the Company or the Issuer Trust or from an affiliate (as such term is defined in Rule 144) of the Company or the Issuer Trust, with the full amount of the purchase price paid at the date of purchase,
whichever is later, and the Owner is not, and during the preceding three months has not been, an affiliate of the Company or the Issuer Trust. 
 4. Other Transfers. If the Owner seeks to make a transfer in reliance of any other exemption under the Securities Act, it shall attach hereto a letter stating the exemption relied upon and the facts under which such exemption is
available for the requested transfer, and shall attach an opinion of counsel satisfactory to the Company stating that such exemption is available and is being properly used. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company, the Issuer Trust and the Holders.

  

					
	Dated:                     	 	  

		 	(Print the name of the Undersigned, as such term is defined in the
second paragraph of this certificate.)
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

		
		 	(If the Undersigned is a corporation, partnership, fiduciary or entity,
the correct name of the entity, and the name and title of the person
signing on behalf of the
Undersigned must be stated.)

  

 - B-3 -

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