Document:

Amended and Restated Declaration of Trust

 Exhibit 4.2 
 AMENDED AND RESTATED DECLARATION OF TRUST 
 AMONG 
 REGIONS FINANCIAL CORPORATION 
 AS
DEPOSITOR, 
 DEUTSCHE BANK TRUST COMPANY AMERICAS 
 AS PROPERTY TRUSTEE, 
 DEUTSCHE BANK TRUST COMPANY DELAWARE 
 AS DELAWARE TRUSTEE, 
 AND

 THE ADMINISTRATIVE TRUSTEES NAMED HEREIN 
 NEW REGIONS FINANCING TRUST II 
 (TO BE KNOWN AS REGIONS FINANCING TRUST II) 
 DATED AS OF JUNE 22, 2009 

 NEW REGIONS FINANCING TRUST II 
 Certain Sections of this Declaration relating to Sections 310 through 318 of the Trust Indenture Act of 1939: 
  

					
	 Trust Indenture Act
              Section
	  	 Declaration
Section

	310	  	(a)(1)	  	8.7
		  	(a)(2)	  	8.7
		  	(a)(3)	  	8.9
		  	(a)(4)	  	2.7(a)(ii)
	311	  	(a)(b)	  	8.8
	312	  	(a)	  	5.7
		  	(b)	  	5.7
		  	(c)	  	5.7
	313	  	(a)	  	8.14
		  	(a)(4)	  	8.14
		  	(b)	  	8.14
		  	(c)	  	10.8
		  	(d)	  	8.14(c)
	314	  	(a)	  	8.15
		  	(b)	  	Not Applicable
		  	(c)(1)	  	8.16
		  	(c)(2)	  	8.16
		  	(c)(3)	  	Not Applicable
		  	(d)	  	Not Applicable
		  	(e)	  	1.1, 8.16
	315	  	(a)	  	8.1(a)
		  	(b)	  	8.2, 10.8
		  	(c)	  	8.1(a)
		  	(d)	  	8.1, 8.3
		  	(e)	  	Not Applicable
	316	  	(a)	  	Not Applicable
		  	(a)(1)(A)	  	Not Applicable
		  	(a)(1)(B)	  	Not Applicable
		  	(a)(2)	  	Not Applicable
		  	(b)	  	5.14
		  	(c)	  	6.7
	317	  	(a)(1)	  	Not Applicable
		  	(a)(2)	  	Not Applicable
		  	(b)	  	5.9
	318	  	(a)	  	10.11

  

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

 Table of Contents 
  

					
	 	    	 	  	Page
	ARTICLE I
	
	INTERPRETATION AND DEFINITIONS
			
	 Section 1.1
	    	Interpretation.	  	1
	 Section 1.2
	    	Certain Definitions.	  	2
	
	ARTICLE II
	
	CONTINUATION OF THE TRUST
			
	 Section 2.1
	    	Name.	  	10
	 Section 2.2
	    	Office of the Delaware Trustee; Principal Place of Business.	  	10
	 Section 2.3
	    	Initial Contribution of Trust Property; Organizational Expenses.	  	11
	 Section 2.4
	    	Issuance of the Preferred Securities.	  	11
	 Section 2.5
	    	Issuance of the Common Securities.	  	11
	 Section 2.6
	    	Declaration of Trust.	  	11
	 Section 2.7
	    	Authorization to Enter into Certain Transactions.	  	12
	 Section 2.8
	    	Assets of Trust.	  	14
	 Section 2.9
	    	Title to Trust Property.	  	15
	
	ARTICLE III
	
	PAYMENT ACCOUNT
			
	 Section 3.1
	    	Payment Account.	  	15
	
	ARTICLE IV
	
	DISTRIBUTIONS; REDEMPTION
			
	 Section 4.1
	    	Distributions.	  	15
	 Section 4.2
	    	Redemption.	  	16
	 Section 4.3
	    	Subordination of Common Securities.	  	18
	 Section 4.4
	    	Payment Procedures.	  	19
	 Section 4.5
	    	Tax Returns and Reports.	  	19
	 Section 4.6
	    	Payment of Taxes, Duties, Etc. of the Trust.	  	19
	 Section 4.7
	    	Payments under Indenture or Pursuant to Direct Actions.	  	19
	 Section 4.8
	    	Liability of the Holder of Common Securities.	  	19
	 Section 4.9
	    	Exchanges.	  	20
	
	ARTICLE V
	
	TRUST SECURITIES CERTIFICATES
			
	 Section 5.1
	    	Initial Ownership.	  	20
	 Section 5.2
	    	The Trust Securities Certificates.	  	20

  

 -i- 

					
	 Section 5.3
	    	Authentication of Preferred Securities Certificates.	  	21
	 Section 5.4
	    	Registration of Transfer and Exchange of Trust Securities Certificates.	  	21
	 Section 5.5
	    	Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates.	  	22
	 Section 5.6
	    	Persons Deemed Holders.	  	22
	 Section 5.7
	    	Access to List of Holders’ Names and Addresses.	  	22
	 Section 5.8
	    	Maintenance of Office or Agency.	  	23
	 Section 5.9
	    	Appointment of Paying Agent.	  	23
	 Section 5.10
	    	Ownership of Common Securities by Depositor.	  	23
	 Section 5.11
	    	Global Preferred Securities Certificates; Common Securities Certificate.	  	24
	 Section 5.12
	    	Notices to Clearing Agency.	  	24
	 Section 5.13
	    	Definitive Preferred Securities Certificates.	  	24
	 Section 5.14
	    	Rights of Holders.	  	25
	
	ARTICLE VI
	
	ACTS OF HOLDERS; MEETINGS; VOTING
			
	 Section 6.1
	    	Limitations on Voting Rights.	  	27
	 Section 6.2
	    	Notice of Meetings.	  	28
	 Section 6.3
	    	Meetings of Holders of Preferred Securities.	  	28
	 Section 6.4
	    	Voting Rights.	  	28
	 Section 6.5
	    	Proxies, etc.	  	28
	 Section 6.6
	    	Holder Action by Written Consent.	  	28
	 Section 6.7
	    	Record Date for Voting and Other Purposes.	  	29
	 Section 6.8
	    	Acts of Holders.	  	29
	 Section 6.9
	    	Inspection of Records.	  	30
	
	ARTICLE VII
	
	REPRESENTATIONS AND WARRANTIES
			
	 Section 7.1
	    	Representations and Warranties of the Property Trustee and the Delaware Trustee.	  	30
	 Section 7.2
	    	Representations and Warranties of Depositor.	  	31
	
	ARTICLE VIII
	
	THE TRUSTEES
			
	 Section 8.1
	    	Certain Duties and Responsibilities.	  	31
	 Section 8.2
	    	Certain Notices.	  	32
	 Section 8.3
	    	Certain Rights of Property Trustee.	  	33
	 Section 8.4
	    	Not Responsible for Recitals or Issuance of Securities.	  	35
	 Section 8.5
	    	May Hold Securities.	  	35
	 Section 8.6
	    	Compensation; Indemnity; Fees.	  	35
	 Section 8.7
	    	Corporate Property Trustee Required; Eligibility of Trustees.	  	36
	 Section 8.8
	    	Conflicting Interests.	  	36
	 Section 8.9
	    	Co-Trustees and Separate Trustee.	  	36
	 Section 8.10
	    	Resignation and Removal; Appointment of Successor.	  	38
	 Section 8.11
	    	Acceptance of Appointment by Successor.	  	39
	 Section 8.12
	    	Merger, Conversion, Consolidation or Succession to Business.	  	39
	 Section 8.13
	    	Preferential Collection of Claims against Depositor or Trust.	  	39

  

 ii 

					
	 Section 8.14
	    	Reports by Property Trustee.	  	40
	 Section 8.15
	    	Reports to the Property Trustee.	  	40
	 Section 8.16
	    	Evidence of Compliance with Conditions Precedent.	  	40
	 Section 8.17
	    	Number of Administrative Trustees.	  	41
	 Section 8.18
	    	Delegation of Power.	  	41
	 Section 8.19
	    	Delaware Trustee.	  	41
	
	ARTICLE IX
	
	TERMINATION, LIQUIDATION AND MERGER
			
	 Section 9.1
	    	Dissolution upon Expiration Date.	  	42
	 Section 9.2
	    	Early Termination.	  	42
	 Section 9.3
	    	Termination.	  	42
	 Section 9.4
	    	Liquidation.	  	43
	 Section 9.5
	    	Mergers, Consolidations, Amalgamations or Replacements of the Trust.	  	44
	
	ARTICLE X
	
	MISCELLANEOUS PROVISIONS
			
	 Section 10.1
	    	Limitation of Rights of Holders.	  	45
	 Section 10.2
	    	Amendment.	  	45
	 Section 10.3
	    	Separability.	  	46
	 Section 10.4
	    	Governing Law.	  	46
	 Section 10.5
	    	Payments Due on Non-Business Day.	  	46
	 Section 10.6
	    	Successors.	  	46
	 Section 10.7
	    	Headings.	  	47
	 Section 10.8
	    	Reports, Notices and Demands.	  	47
	 Section 10.9
	    	Agreement Not to Petition.	  	47
	 Section 10.10
	    	Agreed Tax Treatment of Trust and Trust Securities.	  	48
	 Section 10.11
	    	Application of Trust Indenture Act.	  	48
	 Section 10.12
	    	Acceptance of Terms of Declaration, Guarantee and Indenture.	  	48
	 Section 10.13
	    	Counterparts.	  	48
	
	 EXHIBIT A    Certificate of Trust

	 EXHIBIT B    Form of Common Securities Certificate

	 EXHIBIT C    Form of Amended and Restated Agreement as to Expenses and Liabilities

	 EXHIBIT D    Form of Preferred Securities Certificate

  

 -iii- 

 AMENDED AND RESTATED DECLARATION
OF TRUST, dated as of June 22, 2009, among (i) REGIONS FINANCIAL CORPORATION, a Delaware corporation (including any
successors or assigns, the “Depositor”), (ii) DEUTSCHE BANK TRUST COMPANY AMERICAS, a banking corporation organized under the laws of the
State of New York, as property trustee, (in each such capacity, the “Property Trustee” and, in its separate corporate capacity and not in its capacity as Property Trustee, the “Bank”),
(iii) DEUTSCHE BANK TRUST COMPANY DELAWARE, a banking corporation organized under the laws of the State of Delaware, as Delaware trustee (the
“Delaware Trustee”), (iv) CARL L. GORDAY, an individual, and DANA W. NOLAN, an individual, each of whose address is c/o REGIONS
FINANCIAL CORPORATION, 1900 Fifth Avenue North, Birmingham, Alabama 35203 (each an “Administrative Trustee” and collectively the “Administrative Trustees”) and (v) the several HOLDERS, as
hereinafter defined. This Declaration shall be deemed effective immediately prior to the Effective Time. 
 WITNESSETH: 

 WHEREAS, the Depositor, Deutsche Bank Trust Company Delaware, as Delaware Trustee, Deutsche Bank
Trust Company Americas, as Property Trustee, and the Administrative Trustees have heretofore duly declared and established a statutory trust pursuant to the Delaware Statutory Trust Act by the entering into that certain Declaration of Trust, dated
as of June 19, 2009 (the “Original Declaration”), and by executing and filing the Certificate of Trust, filed on June 19, 2009, attached as Exhibit A (the “Certificate of Trust”), with the Secretary of
State of the State of Delaware; and 
 WHEREAS, the parties hereto desire to amend and restate the
Original Declaration in its entirety as set forth herein to provide for, among other things, (i) the change of the Trust’s name to “Regions Financing Trust II”, with effect at and from the Effective Time; (ii) the issuance
of the Common Securities by the Trust to the Depositor pursuant to the Agreement of Merger at the Effective Time, (iii) the issuance of the Preferred Securities by the Trust pursuant to the Agreement of Merger at the Effective Time and
(iv) the confirmation of appointment of the Property Trustee, the Delaware Trustee and Administrative Trustees; 
 NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, each
party, for the benefit of the other parties and for the benefit of the Holders, hereby amends and restates the Original Declaration in its entirety and agrees as follows: 
 ARTICLE I 
 INTERPRETATION AND DEFINITIONS 
 Section 1.1 Interpretation. 
 For all
purposes of this Declaration, except as otherwise expressly provided or unless the context otherwise requires: 
 (a) the terms defined in
this Article have the meanings assigned to them in this Article and include the plural as well as the singular; 
 (b) all 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; 
 (c) 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 Declaration; 

 (d) the words “herein”, “hereof” and “hereunder” and other words of similar
import refer to this Declaration as a whole and not to any particular Article, Section or other subdivision; and 
 (e) the words
“include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. 
 Section 1.2 Certain Definitions. 
 For all purposes of this Declaration, the following terms shall have the meanings
assigned below: 
 “Act” has the meaning specified in Section 6.8. 
 “Additional Amount” means, with respect to Trust Securities of a given Liquidation Amount and/or a given period, the amount of
Additional Interest paid by the Depositor on a Like Amount of Debentures for such period. 
 “Additional Interest” has the
meaning specified in Section 101 of the Indenture. 
 “Additional Sums” has the meaning specified in Section 1013
of the Indenture. 
 “Administrative Trustee” means each of the Persons identified as an “Administrative Trustee”
in the preamble to this Declaration, solely in such Person’s capacity as Administrative Trustee of the Trust and not in such Person’s individual capacity, or such Administrative Trustee’s successor in interest in such capacity, or any
successor trustee appointed as herein 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; provided, however, that the Trust shall not be deemed an Affiliate of the Depositor. 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. 
 “Agreement of
Merger” means the Agreement of Merger, dated as of June 22, 2009, between the 2007 Trust and the Trust. 
 “Authorized
Officer” of any Person means any officer of such Person or any Person authorized by or pursuant to a resolution of the Board of Directors of such Person. 
 “Bank” has the meaning specified in the preamble to this Declaration. 
 “Bankruptcy
Event” means, with respect to any Person: 
 (a) 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, 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- 

 (b) the institution by such Person of proceedings to be adjudicated a bankrupt or insolvent, or the
consent by it to the institution of proceedings against it under any bankruptcy, insolvency, reorganization or other similar laws, 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, 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 or authorization of corporate action by such Person in furtherance of any such action. 
 “Bankruptcy
Laws” has the meaning specified in Section 10.9. 
 “Board Resolution” means (i) 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 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, or (ii) a certificate signed by the authorized officer or officers of the Depositor to whom the Board of Directors or a committee thereof has
delegated its authority and, in each case, delivered to the Trustees. 
 “Book-Entry Preferred Securities” means a Preferred
Security, the ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11. 
 “Book-Entry Preferred Securities Certificates” means Preferred Securities Certificates, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11. 

“Business Day” means a day other than 
 (a) a Saturday or Sunday, 
 (b) a day on which banking institutions in New York, New York, Birmingham,
Alabama or Wilmington, Delaware are authorized or required by law or executive order to remain closed, or on or after May 15, 2027, a day that is not a day on which commercial banks are open for general business (including dealings in deposits
in U.S. dollars) in London, England, or 
 (c) a day on which the Property Trustee’s Corporate Trust Office or the Corporate Trust
Office of the Debenture Trustee is closed for business. 
 “Capital Treatment Event” means the reasonable determination by
the Depositor that, as a result of the occurrence of any amendment to, or change (including any announced proposed change) in, the laws (or any regulations thereunder) of the United States or any political subdivision thereof or therein or any
rules, guidelines or policies of the Federal Reserve Board, or as a result of any official or administrative pronouncement or action or judicial decision interpreting or applying such laws, regulations, rules, guidelines or policies, which amendment
or change is effective or which proposed change, pronouncement, action or decision is announced on or after the date of issuance of the Preferred Securities under this Declaration, there is more than an insubstantial risk that the Depositor will not
be entitled to treat an amount equal to the liquidation amount of the Preferred Securities as “Tier I Capital” (or the then equivalent thereof) for purposes of the risk-based capital adequacy guidelines of the Federal Reserve Board, as
then in effect and applicable to the Depositor. 
  

 -3- 

 “Certificate Depository Agreement” means the Trust Blanket Issuer Letter of
Representations between the Trust and The Depository Trust Company, as the initial Clearing Agency, dated as of the Effective Time. 
 “Certificate of Trust” has the meaning set forth in the recitals to this Declaration. 
 “Clearing
Agency” means an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act. The Depository Trust Company will be the initial Clearing Agency with respect to Trust Securities Certificates.

 “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 Securities
and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this Declaration 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 Holder” means the holder of all or
substantially all of the Common Securities. 
 “Common Securities Certificate” means a certificate evidencing Common
Securities, substantially in the form attached as Exhibit B. 
 “Common Security” means an undivided beneficial interest in
the assets of the Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Declaration, including the right to receive Distributions and a Liquidation Distribution as provided herein. 
 “Corporate Trust Office” means (i) when used with respect to the Property Trustee, the principal office of the Property Trustee
located in New York, New York, and (ii) when used with respect to the Debenture Trustee, the principal office of the Debenture Trustee located in New York, New York. 
 “Debenture Event of Default” means an “Event of Default” specified in Section 2.9(a) of the Supplemental Indenture. 
 “Debenture Redemption Date” means, with respect to any Debentures to be redeemed under the Indenture, the date fixed for redemption
under the Indenture including any date fixed for redemption pursuant to the exercise by the Depositor of its optional right to redeem the Debentures prior to their stated maturity either (i) in whole or in part after a certain date specified in
the applicable prospectus supplement and in any supplemental indenture or Board Resolution or (ii) in whole but not in part after the occurrence of a Debenture Tax Event, an Investment Company Event or a Capital Treatment Event. 
 “Debenture Repayment Date” means a Repayment Date as defined in the Supplemental Indenture. 
 “Debenture Tax Event” means a “Tax Event” as defined in the Indenture. 
  

 -4- 

 “Debenture Trustee” means Deutsche Bank Trust Company Americas, a banking corporation
organized under the laws of the State of New York, solely in its capacity as Debenture Trustee of the Debentures and not in its individual capacity and any successor thereto. 
 “Debentures” means the aggregate principal amount of the Depositor’s 6.625% Junior Subordinated Notes due 2077, issued pursuant to
the Indenture, as supplemented by the Supplemental Indenture. 
 “Declaration” means this Amended and Restated Declaration
of Trust, 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 Declaration 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 Declaration and any such modification, amendment or supplement, respectively. 
 “Definitive Preferred Securities Certificates” means either or both (as the context requires) of (a) Preferred Securities
Certificates that are not Global Preferred Securities as provided in Section 5.11 and (b) Preferred Securities Certificates issued in certificated, fully registered form as provided in Section 5.13. 
 “Delaware Statutory Trust Act” means Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. (ss.) 3801, et seq., as it may be amended
from time to time. 
 “Delaware Trustee” means the Person identified as the “Delaware Trustee” in the preamble to
this Declaration, solely in its capacity as Delaware Trustee of the Trust and not in its individual capacity, or its successor in interest in such capacity, or any successor trustee appointed as herein provided. 
 “Depositor” has the meaning specified in the preamble to this Declaration. 
 “Depositor Affiliated Owner” has the meaning specified in Section 4.9. 
 “Distribution Date” has the meaning specified in Section 4.1(a). 
 “Distributions” means amounts payable in respect of Trust Securities as provided in Section 4.1. 
 “Early Termination Event” has the meaning specified in Section 9.2. 
 “Effective Time” has the meaning specified in the Agreement of Merger. 
 “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): 
 (a) the occurrence of a Debenture Event of Default; or 
 (b) default by the 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 
 (c) default by the Trust in the payment of any Redemption Price of any Trust Security when it becomes due and payable; or 
  

 -5- 

 (d) default in the performance, or breach, in any material respect, of any covenant or warranty of the
Administrative Trustees in this Declaration (other than those specified in clause (b) or (c) 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
defaulting Trustee or Trustees by the Holders of at least 25% in aggregate Liquidation Amount of the Outstanding Preferred 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 
 (e) the occurrence of a Bankruptcy Event with respect to the Property Trustee and the
failure by the Depositor to appoint a successor Property Trustee within 90 days thereof. 
 “Exchange Act” means the
Securities Exchange Act of 1934, as amended from time to time and the rules and regulations promulgated thereunder by the Commission. 
 “Expense Agreement” means the Amended and Restated Agreement as to Expenses and Liabilities between the Depositor and the Trust, substantially in the form attached as Exhibit C, as amended from time to time. 
 “Expiration Date” has the meaning specified in Section 9.1. 
 “Final Repayment Date” means the Final Repayment Date as specified in the Supplemental Indenture. 
 “Global Preferred Security” means a Preferred Securities Certificate evidencing ownership of Book-Entry Preferred Securities.

 “Guarantee” means the Guarantee Agreement executed and delivered by the Depositor and Deutsche Bank Trust Company
Americas, as trustee, contemporaneously with the execution and delivery of this Declaration, for the benefit of the holders of the Preferred Securities, as amended from time to time. 
 “Holder” means a Person in whose name a Trust Security is registered in the Securities Register; any such Person shall be deemed to be a
beneficial owner within the meaning of the Delaware Statutory Trust Act. 
 “Indenture” means the Indenture, dated as of
May 15, 2002, between the Depositor and the Debenture Trustee, as trustee, as amended or supplemented from time to time. 
 “Investment Company Act” or “1940 Act” means the Investment Company Act of 1940, as amended. 
 “Investment Company Event” means the receipt by the Trust of an opinion of counsel experienced in such matters (which may be counsel to the Depositor or the Trust) 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 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 Preferred Securities. 
  

 -6- 

 “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 an aggregate Liquidation Amount
equal to the principal amount of Debentures to be contemporaneously redeemed in accordance with the Indenture and the Supplemental Indenture, the proceeds of which will be used to pay the aggregate Redemption Price of such Trust Securities,
(b) with respect to a distribution of Debentures to Holders in connection with a dissolution or liquidation of the Trust or an exchange of Debentures for Trust Securities pursuant to Section 4.9, Debentures having an aggregate principal
amount equal to the aggregate Liquidation Amount of the Trust Securities of the Holder to whom such Debentures are distributed and (c) with respect to any distribution of Additional Amounts to Holders of Trust Securities, Debentures having an
aggregate principal amount equal to the aggregate Liquidation Amount of the Trust Securities in respect of which such distribution is made. 
 “Liquidation Amount” means the stated amount of $1,000 per Trust Security. 
 “Liquidation Date”
means the date on which Debentures are to be distributed to Holders of Trust Securities in connection with a dissolution and liquidation of the Trust pursuant to Section 9.4(a). 
 “Liquidation Distribution” has the meaning specified in Section 9.4(d). 
 “Majority in Liquidation Amount of the Preferred Securities” or “Majority in Liquidation Amount of the Common
Securities” means, except as provided by the Trust Indenture Act, Preferred Securities or Common Securities, as the case may be, representing more than 50% of the aggregate Liquidation Amount of all then Outstanding Preferred Securities or
all then Outstanding Common Securities, as the case may be. 
 “Merger” means the merger of the 2007 Trust with and into the
Trust pursuant to the Agreement of Merger. 
 “Officers’ Certificate” means a certificate signed by the President or a
Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Depositor, and delivered to the appropriate Trustee. One of the officers signing an Officers’ Certificate given pursuant to
Section 8.16 shall be the principal executive, financial or accounting officer of the Depositor. Any Officers’ Certificate delivered with respect to compliance with a covenant or condition provided for in this Declaration 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 by each 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 such officer, such condition or covenant has been complied with. 
  

 -7- 

 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for or an
employee of the Trust or the Depositor or any Affiliate of either and who shall be reasonably acceptable to the Property Trustee. 
 “Original Declaration” has the meaning specified in the recitals to this Declaration. 
 “Outstanding”, when used with respect to Trust Securities, means, as of the date of determination, all Trust Securities theretofore executed and delivered under this Declaration, except: 
 (a) Trust Securities theretofore canceled by the Securities Registrar or delivered to the Securities Registrar for cancellation; 
 (b) Trust Securities for whose payment or redemption money 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 Declaration; 
 (c) Trust Securities that have been paid or in exchange for or in lieu of which other Preferred Securities have been executed and delivered pursuant to
Sections 5.4, 5.5, 5.11 and 5.13; provided, however, that in determining whether the Holders of the requisite aggregate Liquidation Amount of Outstanding Preferred Securities have given any request, demand, authorization, direction, notice,
consent or waiver hereunder, Preferred Securities owned by the Depositor, any Trustee or any Affiliate of the Depositor or any Trustee shall be disregarded and deemed not to be Outstanding, except that in determining whether any Trustee shall be
protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Preferred Securities that a Responsible Officer of such Trustee actually knows to be so owned shall be so disregarded; and 
 (d) the foregoing shall not apply at any time when all the Outstanding Preferred Securities are owned by the Depositor, one or more of the Trustees
and/or any such Affiliate, other than any Preferred Securities acquired by the Depositor or any of its Affiliates in connection with transactions effected by or for the account of customers of the Depositor or any of its Affiliates in connection
with the distribution, trading or market-making in respect of Preferred Securities. Preferred Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the
Administrative Trustees the pledgee’s right so to act with respect to such Preferred Securities and that the pledgee is not the Depositor or any Affiliate of the Depositor. 
 “Owner” means (i) with respect to a Book-Entry Preferred Security, each Person who is the beneficial owner of such Book-Entry
Preferred Security 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) and (ii) with respect to any definitive Preferred Securities Certificate or any Common Security Certificate, the record owner reflected in the Securities Register therefor. 
 “Paying Agent” means any paying agent or co-paying agent appointed pursuant to Section 5.9 and shall initially be the Bank.

 “Payment Account” means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with
the Bank in its trust department for the benefit of the Holders in which all amounts paid in respect of the 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 and 4.2. 
  

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 “Person” means any individual, corporation, association, partnership, joint venture,
trust, limited liability company or corporation, unincorporated organization or government or any agency or political subdivision thereof. 
 “Predecessor Common Securities” means the issued and outstanding common securities of the 2007 Trust. 
 “Predecessor Common Securities Certificate” means a certificate evidencing Predecessor Common Securities, substantially in the form attached as Exhibit B to the 2007 Declaration. 
 “Predecessor Preferred Securities” means the issued and outstanding preferred securities of the 2007 Trust. 
 “Predecessor Preferred Securities Certificate” means a certificate evidencing Predecessor Preferred Securities, substantially in the
form attached as Exhibit D to the 2007 Declaration. 
 “Preferred Security” means an undivided beneficial interest in the
assets of the Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Declaration, including the right to receive Distributions and a Liquidation Distribution as provided herein. 
 “Preferred Securities Certificate” means (i) a Predecessor Preferred Securities Certificate issued prior to the Effective Time
pursuant to the 2007 Declaration or (ii) a certificate evidencing Preferred Securities, substantially in the form attached as Exhibit D. 
 “Property Trustee” means the Person identified as the “Property Trustee” in the preamble to this Declaration, solely in its capacity as Property Trustee of the 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 redemption thereof; provided that each Debenture Redemption Date, Debenture Repayment Date and the stated maturity of the Debentures shall be a Redemption Date for a Like
Amount of Trust Securities. 
 “Redemption Price” means, with respect to any Trust Security, the Liquidation Amount thereof,
plus accumulated and unpaid Distributions to the Redemption Date, plus the related amount of the premium, if any, paid by the Sponsor upon the concurrent redemption or repayment of a Like Amount of Debentures or Debentures having a principal amount
equal to the Liquidation Amount of such Trust Security. 
 “Relevant Trustee” has the meaning specified in
Section 8.10. 
 “Responsible Officer” means, with respect to the Guarantee Trustee, any officer within the Corporate
Trust Office including any vice president, any assistant vice president, managing director, assistant treasurer, secretary, assistant secretary, associate or any other officer of the Guarantee Trustee customarily performing functions similar to
those performed by any of the above designated officers and having direct responsibility for the administration of this Guarantee Agreement, and also any other officer to whom such matter is referred because of such officer’s knowledge of and
familiarity with the particular subject. 
 “Securities Register” and “Securities Registrar” have the
respective meanings specified in Section 5.4. 
  

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 “Supplemental Indenture” means the Second Supplemental Indenture, dated as of
April 27, 2007, between the Depositor and the Debenture Trustee, as trustee, as amended or supplemented from time to time. 
 “Trust” means the Delaware statutory trust heretofore created, and continued hereby, and identified on the cover page to this Declaration. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of which this Declaration is executed; provided, however, that in the event the Trust Indenture Act of
1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended. 
 “Trust Property” means following the Merger (a) the Debentures, (b) the rights of the Trust under the Expense Agreement, (c) any cash on deposit in, or owing to, the Payment Account and
(d) all proceeds and rights in respect of the foregoing and 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 Declaration. 
 “Trust Securities Certificate” means any one of the Common Securities Certificates or the Preferred Securities Certificates. 

“Trust Security” means any one of the Common Securities or the Preferred Securities. 
 “Trustees” means, collectively, the Property Trustee, the Delaware Trustee and the Administrative Trustees. 
 “2007 Trust” means Regions Financing Trust II, a Delaware statutory trust created pursuant to the Delaware Statutory Trust Act by the
entering into that certain Declaration of Trust, dated as of January 26, 2001, as amended by Amendment No. 1 thereto, dated as of March 16, 2007, and as amended and restated by the Amended and Restated Declaration of Trust, dated as
of April 27, 2007 (the “2007 Declaration”), and by the execution and filing by Deutsche Bank Trust Company Delaware, as Trustee, and Deutsche Bank Trust Company Americas, as Trustee, with the Secretary of State of the State of
Delaware of the Certificate of Trust, filed on January 26, 2001. 
 ARTICLE II 
 CONTINUATION OF THE TRUST 
 Section
2.1 Name. 
 The Trust was originally known as “New Regions Financing Trust II” at all times prior to the Effective Time.
With effect from the Effective Time, the Trust continued hereby shall be known as “Regions Financing Trust II”, as such name may be modified from time to time by the Administrative Trustees following written notice to the Holders of
Trust Securities and the other Trustees, in which name the Trustees may conduct the business of the Trust, make and execute contracts and other instruments on behalf of the Trust and sue and be sued. 
 Section 2.2 Office of the Delaware Trustee; Principal Place of Business. 
 The name and address of the Delaware Trustee, with a principal place of business in the State of Delaware, is Deutsche Bank Trust Company Delaware, 1011
Centre Road, Suite 200, Wilmington, Delaware 19805, Attention: Corporate Trust Administration, or such other address in the State of 

  

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Delaware as the Delaware Trustee may designate by written notice to the Holders and the Depositor. The principal executive office of the Trust is in care of
Regions Financial Corporation, 1900 Fifth Avenue North, Birmingham, Alabama 35203. 
 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
Declaration of the sum of $10, which constituted the initial Trust Property. The Depositor shall pay organizational expenses of the Trust as they arise or shall, upon request of any Trustee, promptly reimburse such Trustee for any such expenses paid
by such Trustee. The Depositor shall make no claim upon the Trust Property for the payment of such expenses. 
 Section 2.4 Issuance of
the Preferred Securities. 
 The Depositor, on behalf of the Trust and pursuant to the Original Declaration, executed and delivered the
Agreement of Merger. As provided in the Agreement of Merger, at the Effective Time each of the Predecessor Preferred Securities will be converted in the Merger into one Preferred Security, as a result of which 700,000 Preferred Securities, having an
aggregate Liquidation Amount of $700,000,000, shall be issued and outstanding immediately following the Merger. Each certificate that immediately prior to the Merger evidenced Predecessor Preferred Securities shall thereafter evidence the Preferred
Securities into which such Predecessor Preferred Securities shall have been converted. 
 Section 2.5 Issuance of the Common Securities.

 As provided in the Agreement of Merger, at the Effective Time each of the Predecessor Common Securities will be converted in the
Merger into one Common Security, as a result of which 10 Common Securities, having an aggregate Liquidation Amount of $10,000, shall be issued and outstanding immediately following the Merger. Each certificate that immediately prior to the Merger
evidenced Predecessor Common Securities shall thereafter evidence the Common Securities into which such Predecessor Common Securities shall have been converted. 
 Section 2.6 Declaration of Trust. 
 The exclusive purposes and functions of the Trust are (a) to
issue the Trust Securities pursuant to the Agreement of Merger, (b) to hold the Debentures acquired pursuant to the Agreement of Merger, (b) to make distributions to the Holders of Trust Securities, and (c) to engage in those
activities necessary, convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, each to have all the rights, powers and duties of such Trustee set forth herein, and the Trustees hereby accept 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 Trust and the Holders. The Administrative Trustees shall have all rights,
powers and duties set forth herein and in accordance with applicable law with respect to accomplishing the purposes of the Trust. Notwithstanding anything in this Declaration to the contrary, the Delaware Trustee shall not be entitled to exercise
any powers or authority (except to the extent required under the Delaware Statutory Trust Act), nor shall the Delaware Trustee have any of the duties and responsibilities, of the Trustees collectively, the Property Trustee or the Administrative
Trustees set forth herein. Notwithstanding any provision to the contrary in this Declaration or elsewhere, the Delaware Trustee shall be one of the trustees of the Trust for the sole and limited purpose of fulfilling the requirements of
Section 3807(a) of the Delaware Statutory Trust Act and (except for such duties of the Delaware Trustee as may be expressly set forth herein) the Delaware Trustee (both as such and in its individual capacity) shall have no duties or liabilities
to any Person under this Declaration or otherwise in respect of or in connection with the Trust, the Trust Securities, or its 

  

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serving as a trustee of the Trust. The Merger, the Agreement of Merger and the Certificate of Merger referenced in the Agreement of Merger, have been fully
authorized by the Original Declaration and are hereby approved and ratified in all respects. Without the need for consent or action of any person, the Merger may be consummated, and the Trust may execute, deliver, perform and file, if applicable,
the Agreement of Merger and Certificate of Merger. 
 Section 2.7 Authorization to Enter into Certain Transactions. 
 (a) The Trustees shall conduct the affairs of the Trust in accordance with the terms of this Declaration. Subject to the limitations set forth in
Section 2.7(b), and in accordance with the following clauses (i) and (ii), the Trustees shall have the authority to enter into all transactions and agreements determined by the Trustees to be appropriate in exercising the authority,
express or implied, otherwise granted to the Trustees under this Declaration, and to perform all acts in furtherance thereof, including without limitation the following: 
 (i) As among the Trustees, each Administrative Trustee shall have the power and authority to act on behalf of the Trust with respect to
the following matters: 
 (A) the issuance of the Trust Securities; 
 (B) to cause the Trust to enter into, and to execute, deliver and perform on behalf of the Trust, the Expense Agreement and the
Certificate Depository Agreement and such other agreements as may be necessary or desirable in connection with the purposes and function of the Trust; 
 (C) assisting in the registration of the Preferred Securities under the Securities Act of 1933, as amended, and under applicable state securities or blue sky laws, and the qualification of this Declaration as a trust
indenture under the Trust Indenture Act; 
 (D) assisting in the listing of the Preferred Securities upon such securities
exchange or exchanges as shall be determined by the Depositor and with the registration of the Preferred Securities under the Securities Exchange Act of 1934, as amended, and with the preparation and filing of all periodic and other reports and
other documents pursuant to the foregoing; 
 (E) assisting in the sending of notices (other than notices of default) and
other information regarding the Trust Securities and the Debentures to the Holders in accordance with this Declaration; 
 (F)
the appointment of a Paying Agent and Securities Registrar in accordance with this Declaration; 
 (G) execution of the Trust
Securities in accordance with this Declaration; 
 (H) registering transfer of the Trust Securities in accordance with this
Declaration; 
 (I) to the extent provided in this Declaration, the winding up of the affairs of and liquidation of the Trust
and the preparation, execution and filing of the certificate of cancellation with the Secretary of State of the State of Delaware; 
  

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 (J) unless otherwise required by the Trust Indenture Act or the Delaware Statutory Trust
Act, to execute on behalf of the Trust (either acting alone or together with any or all of the Administrative Trustees) any documents that the Administrative Trustees have the power to execute pursuant to this Declaration; and 
 (K) the taking of any action incidental or convenient to the foregoing as the Trustees may from time to time determine is necessary or
advisable to give effect to the terms of this Declaration for the benefit of the Holders (without consideration of the effect of any such action on any particular Holder). 
 (ii) As among the Trustees, the Property Trustee shall have the power, duty and authority to act on behalf of the Trust with respect to
the following matters: 
 (A) the establishment of the Payment Account; 
 (B) the receipt of the Debentures; 
 (C) the collection of interest, principal and any other payments made in respect of the 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 Debentures; 
 (F) the sending of notices of default and other information regarding the Trust Securities and the Debentures to the Holders in accordance with this Declaration; 
 (G) the distribution of the Trust Property in accordance with the terms of this Declaration; 
 (H) to the extent provided in this Declaration, the winding up of the affairs of and liquidation of the Trust and the preparation,
execution and filing of the certificate of cancellation with the Secretary of State of the State of Delaware; 
 (I) after an
Event of Default (other than under paragraph (b), (c), (d) or (e) of the definition of such term if such Event of Default is by or with respect to the Property Trustee) the taking of any action incidental or convenient to the foregoing as
the Property Trustee may from time to time determine is necessary or advisable to give effect to the terms of this Declaration 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); and 
 (J) except as otherwise provided in this Section 2.7(a)(ii), the Property
Trustee shall have none of the duties, liabilities, powers or the authority of the Administrative Trustees set forth in Section 2.7(a)(i). 
 (b) So long as this Declaration remains in effect, the Trust (or the Trustees acting on behalf of the Trust) shall not undertake any business, activities or transaction except as expressly provided herein or contemplated hereby. In
particular, the Trustees shall not (i) acquire any investments or engage in any 

  

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activities not authorized by this Declaration, (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, or would reasonably be expected to cause, the Trust to become taxable as a corporation or classified as other than
a grantor trust for United States federal income tax purposes, (iv) incur any indebtedness for borrowed money or issue any other debt or (v) take or consent to any action that would (1) cause the Debentures or any security succeeding
such Debentures to be treated as other than indebtedness of the Depositor for United States federal income tax purposes unless the Trust first obtains the consent of all Holders of Outstanding Preferred Securities or (2) result in the granting
or creation of a Lien on any of the Trust Property. The Administrative Trustees 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 Trust or the Holders in
their capacity as Holders. 
 (c) In connection with the issue of the Preferred Securities, the Depositor shall have the right and
responsibility to assist the Trust with respect to, or effect on behalf of the Trust, the following (and any actions taken by the Depositor in furtherance of the following prior to the date of this Declaration are hereby ratified and confirmed in
all respects): (i) the preparation and filing by the Trust with the Commission and the execution on behalf of the Trust of a registration statement on the appropriate form in relation to the Preferred Securities, including any amendments
thereto and the taking of any action necessary or desirable to sell the Preferred Securities in a transaction or series of transactions pursuant thereto; (ii) the determination of the states or other jurisdictions (if any) in which to take
appropriate action to qualify or register for sale all or part of the Preferred Securities and the determination of any and all such acts, other than actions which must be taken by or on behalf of the Trust, and the advice to the Trustees of actions
they must take on behalf of the Trust, and the preparation for execution and filing of any documents to be executed and filed by the Trust or on behalf of the Trust, as the Depositor deems necessary or advisable in order to comply with the
applicable laws of any such States; (iii) the preparation for filing by the Trust and execution on behalf of the Trust of an application to the New York Stock Exchange or any other national stock exchange or the Nasdaq National Market for
listing, upon notice of issuance, of any Preferred Securities; (iv) the preparation for filing by the Trust with the Commission and the execution on behalf of the Trust of a registration statement on Form 8-A relating to the registration of the
Preferred Securities under Section 12(b) or 12(g) of the Exchange Act, including any amendments thereto; (v) the negotiation of the terms of, and the execution and delivery of, the Agreement of Merger; and (vi) 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
Administrative Trustees are authorized and directed to conduct the affairs of the Trust and to operate the Trust so that the Trust will not be deemed to be an “investment company” required to be registered under the 1940 Act, or to be
classified other than a grantor trust for United States federal, state and local income tax purposes and so that the Debentures will be treated as indebtedness of the Depositor for United States federal income tax purposes. In this connection, the
Depositor and the Administrative Trustees are authorized to take any action, not inconsistent with applicable law, the Certificate of Trust or this Declaration, that each of the Depositor and any Administrative Trustee determines in its 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 Preferred Securities. 
 Section 2.8 Assets of Trust. 
 The
assets of the Trust shall consist of the Trust Property. 
  

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 Section 2.9 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 Trust and the Holders in accordance with this Declaration. 
 ARTICLE III 
 PAYMENT ACCOUNT 
 Section 3.1
Payment Account. 
 (a) On or prior to the Effective Time, the Property Trustee shall establish the Payment Account with the Bank. The
Property Trustee and any agent of the Property Trustee shall have exclusive control and sole 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 Declaration. 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 in respect of, the Debentures. 
 (c)
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 Additional Amounts) will be made on the Trust Securities at the rate and on the dates that payments of interest (including Additional Interest) are made on the Debentures. Accordingly: 
 (i) Distributions on the Trust Securities shall be cumulative, and will accumulate whether or not there are funds of
the Trust available for the payment of Distributions. Distributions shall accumulate from May 15, 2009, and, except to the extent that the Depositor exercises its right to defer the payment of interest on the Debentures in accordance with the
Indenture, as supplemented by the Supplemental Indenture, shall be payable (i) semi-annually in arrears on May 15 and November 15 of each year, commencing on November 15, 2009 until May 15, 2027, (ii) quarterly in
arrears on February 15, May 15, August 15 and November 15 of each year, commencing on August 15, 2027 until May 15, 2047, and (iii) monthly in arrears thereafter on the 15th of each month, commencing on June 15, 2047. If any date prior to May 15, 2027 on
which a Distribution would otherwise be 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 (and, so long as such payment is made on the next
succeeding Business Day (and, in the case of dates prior to May 15, 2027, without any interest or other payment in respect of any such delay), with the same force and effect as if made on the date on which such 

  

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payment was originally payable (each date on which Distributions are payable in accordance with this Section 4.1(a), a “Distribution
Date”). 
 (ii) In the event (and to the extent) that the Depositor exercises its right under the Indenture, as
supplemented by the Supplemental Indenture to defer the payment of interest on the Debentures, Distributions on the Preferred Securities shall be deferred but shall continue to accumulate. Distributions on the Trust Securities shall be payable on
the Liquidation Amount of such Preferred Securities at the rate per annum equal to the then applicable rate of interest on the Debentures. The amount of Distributions payable for any period from May 15, 2009 until May 15, 2027, shall be
computed on the basis of a 360-day year comprised of twelve 30-day months. The amount of Distributions payable for any period thereafter shall be computed on the basis of a 360-day year and the actual number of days elapsed. The amount of
Distributions payable for any period shall include any Additional Amounts in respect of such period. 
 (iii) 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 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 for such Distribution Date, which shall be one Business Day prior to such Distribution Date; provided, however, that in the
event that the Preferred Securities do not remain in book-entry-only form, the relevant record date for a Distribution Date shall be the date 15 days prior to such Distribution Date. Distributions payable on any Trust Securities that are not
punctually paid on any Distribution Date as a result of the Depositor having failed to make an interest payment under the Debentures will cease to be payable to the Person in whose name such Trust Securities are registered on the relevant record
date, and such defaulted Distribution will instead be payable to the Person in whose name such Trust Securities are registered on the special record date or other specified date for determining Holders entitled to such defaulted interest established
in accordance with the Indenture. 
 Section 4.2 Redemption. 
 (a) On each Debenture Redemption Date and each Debenture Repayment Date and upon the stated maturity of the Debentures, the 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 (or, in the case of a Debenture Repayment Date, not less than 10 nor more than 15 days prior to the Redemption Date) to each Holder of
Trust Securities to be redeemed, at such Holder’s address appearing in the Security 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, an 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 (and if an estimate is provided, a further notice shall be sent of the actual Redemption Price on the date that such Redemption Price is calculated); 
  

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 (iii) the CUSIP number or numbers of the Preferred Securities affected; 
 (iv) if less than all the Outstanding Trust Securities are to be redeemed, the identification and the aggregate Liquidation Amount of the
Trust Securities to be redeemed; 
 (v) that on the Redemption Date the Redemption Price in respect of each such Trust
Security to be redeemed will be due and payable and that Distributions thereon will cease to accrue on and after said date (except as provided in the last sentence of Section 4.2(d)); and 
 (vi) the place or places of business where the Trust Securities are to be surrendered for the payment of the Redemption Price. 

The Trust in issuing the Trust Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Property Trustee shall
indicate the “CUSIP” 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 materials. 
 (c) The Trust Securities
redeemed on each Redemption Date shall be redeemed at the Redemption Price with the proceeds from the contemporaneous redemption of Debentures. Redemptions of the Trust Securities shall be made and the Redemption Price shall be due and payable on
each Redemption Date only to the extent that the Trust has funds then on hand and available in the Payment Account for the payment of such Redemption Price. 
 (d) If the Property Trustee gives a notice of redemption in respect of any Preferred Securities, then, by 10:00 A.M., New York City time, on the Redemption Date, the Depositor shall deposit sufficient funds with the
Property Trustee to pay the Redemption Price. If such deposit has been made by such time, then by 2:00 P.M., New York City time, on the Redemption Date, subject to Section 4.2(c), the Property Trustee will, so long as the Preferred Securities
are in book-entry-only form, irrevocably deposit with the Clearing Agency for the Preferred Securities funds sufficient to pay the applicable Redemption Price. If the Preferred Securities are no longer in book- entry-only form, the Property Trustee,
subject to Section 4.2(c), will irrevocably deposit with the Paying Agent 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
thereof upon surrender of their Preferred Securities Certificates. Notwithstanding the foregoing, any Distribution 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 on the relevant record date for such Distribution Date. If notice of redemption shall have been given and funds deposited as required, then upon the date of such deposit, all rights of
Holders of Trust Securities so called for redemption will cease, except the right of such Holders to receive the Redemption Price therefor and any Distribution payable in respect of the Trust Securities on or prior to the Redemption Date, but
without interest, and such Trust Securities will cease to be outstanding. In the event that any date on which any Redemption Price is payable is not a Business Day, then payment of the 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), or, if such Business Day falls in the next calendar year, 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 for any Trust Securities called for redemption is improperly withheld or refused and not paid either by the Trust or by the Depositor pursuant to the Guarantee,
Distributions on such Trust Securities will continue to accumulate, at the then applicable rate, from the Redemption Date originally established by the Trust for such Trust Securities to the date such Redemption Price is actually paid, in 

  

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which case the actual payment date will be the date fixed for redemption for purposes of calculating the Redemption Price. 
 (e) Payment of the Redemption Price for Trust Securities shall be made to the recordholders thereof as they appear on the Securities Register on the
relevant record date for the Redemption Date, which shall be one Business Day prior to such Redemption Date; provided, however, that in the event that the Preferred Securities do not remain in book-entry-only form, the relevant record date
for a Redemption Date shall be the date 15 days prior to such Redemption Date. 
 (f) 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 Trust Securities to be redeemed shall be allocated pro rata (based on Liquidation Amounts) among the Common Securities and the
Preferred Securities. The particular Preferred Securities to be redeemed shall be selected pro rata (based upon Liquidation Amounts) not more than 60 days prior to the Redemption Date by the Property Trustee from the Outstanding Preferred
Securities not previously called for redemption, by such method (including, without limitation, by lot) as the Property Trustee shall deem fair and appropriate; provided, however, that so long as the Preferred Securities are in
book-entry-only form, such selection shall be made in accordance with the customary procedures for the Clearing Agency for the Preferred Securities by such Clearing Agency. The Property Trustee shall promptly notify the Security Registrar in writing
of the Preferred Securities selected for redemption and, in the case of any Preferred Securities selected for partial redemption, the Liquidation Amount thereof to be redeemed. For all purposes of this Declaration, unless the context otherwise
requires, all provisions relating to the redemption of Preferred Securities shall relate, in the case of any Preferred Securities redeemed or to be redeemed only in part, to the portion of the Liquidation Amount of Preferred Securities that has been
or is to be redeemed. The Property Trustee shall also have the right in such a case to distribute the Debentures intended to be redeemed to the Holders in redemption of their Preferred Securities. 
 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, subject to
Section 4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Preferred 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 specified in Section 2.9(a)(i) of the Supplemental Indenture shall have occurred and be continuing, no payment of any Distribution (including Additional Amounts, if applicable) 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 acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid
Distributions (including Additional Amounts, if applicable) on all Outstanding Preferred 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 Preferred Securities, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities then called for redemption, 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 Additional Amounts, if applicable) on, or the Redemption Price of, Preferred Securities
then due. 
 (b) In the event of the occurrence of any Event of Default resulting from any Debenture Event of Default, the Holder of Common
Securities will be deemed to have waived any right to act with respect to any such Event of Default under this Declaration until the effect of all such Events of Default with respect to the Preferred Securities have been cured, waived or otherwise
eliminated. Until any such 

  

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Event of Default under this Declaration with respect to the Preferred Securities has been so cured, waived or otherwise eliminated, the Property Trustee
shall act solely on behalf of the Holders of the Preferred Securities and not on behalf of the Holder of the Common Securities, and only the Holders of all the Preferred Securities will have the right to direct the Property Trustee to act on their
behalf. 
 Section 4.4 Payment Procedures. 
 Payments of Distributions (including Additional Amounts, if applicable) in respect of the Preferred Securities, subject to the next succeeding sentence, shall be made by wire transfer or check mailed to the address of
the Person entitled thereto as such address shall appear on the Securities Register or, if the Preferred Securities are held by a Clearing Agency, such Distributions shall be made to such 
 Clearing Agency in immediately available funds. A Holder of $1,000,000 or more in aggregate Liquidation Amount of Preferred
Securities may receive payments of cash Distributions (including any Additional Amounts) by wire transfer of immediately available funds upon written request to the Property Trustee not later than the 15th calendar day, whether or not a Business Day, before the relevant Distribution Date. Payments in respect of the Common
Securities shall be made in such manner as shall be mutually agreed between the Property Trustee and the Common Holder. 
 Section 4.5 Tax
Returns and Reports. 
 The Administrative Trustees 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 Trust. In this regard, the Administrative Trustees shall (a) prepare and file (or cause to be prepared and filed)
the appropriate Internal Revenue Service forms and returns required to be filed in respect of the Trust in each taxable year of the Trust and (b) prepare and furnish (or cause to be prepared and furnished) to each Holder the appropriate
Internal Revenue Service form required to be provided on such form. The Administrative Trustees shall provide the Depositor and the Property Trustee with a copy of all such returns and reports promptly after such filing or furnishing. The Trustees
and the Trust 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. 
 Section 4.6 Payment of Taxes, Duties, Etc. of the Trust. 
 Upon receipt under the 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 Trust by the
United States or any other taxing authority which were included in such Additional Sums. 
 Section 4.7 Payments under Indenture or
Pursuant to Direct Actions. 
 Any amount payable hereunder to any Holder of Preferred Securities shall be reduced by the amount of any
corresponding payment such Holder (or an Owner with respect to the Holder’s Preferred Securities) has directly received pursuant to Section 508 of the Indenture or Section 5.14 of this Declaration. 
 Section 4.8 Liability of the Holder of Common Securities. 
 The Holder of the Common Securities shall be liable for the debts and obligations of the Trust in the manner and to the extent set forth in the Expense Agreement. 
  

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 Section 4.9 Exchanges. 
 (a) If at any time the Depositor or any of its Affiliates (in either case, a “Depositor Affiliated Owner”) is the Owner of any Preferred
Securities, such Depositor Affiliated Owner shall have the right to deliver to the Property Trustee all or such portion of its Preferred Securities as it elects and receive, in exchange therefor, a Like Amount of Debentures. Such election
(i) shall be exercisable by such Depositor Affiliated Owner delivering to the Property Trustee a written notice of such election (a) specifying the Liquidation Amount of the Preferred Securities with respect to which such election is being
made, (b) containing the broker participant number through which such Preferred Securities will be delivered to the Property Trustee via DTC and (c) specifying the date on which such exchange shall occur, which may be any date other than
the record date for any Distribution or a date from such record date to and including the Distribution Date for such Distribution and (ii) shall be conditioned upon such Depositor Affiliated Owner having delivered or caused to be delivered to
the Property Trustee or its designee the Preferred Securities which are the subject of such election by 10:00 A.M. New York time, on the date on which such exchange is to occur. After the exchange, such Preferred Securities will be cancelled
and will no longer be deemed to be Outstanding and all rights of the Depositor or its Affiliate(s) with respect to such Preferred Securities will cease, including accumulated but unpaid Distributions thereon. In the event such Preferred Securities
are Book-Entry Preferred Securities, upon such exchange the Property Trustee, in its capacity as Securities Registrar, shall cause an annotation to be made on the Book-Entry Preferred Securities Certificate or Certificates evidencing such Book-Entry
Preferred Securities to evidence the reduction in the liquidation amount thereof resulting from such cancellation. 
 (b) Notwithstanding
anything else in this Declaration to the contrary, in order to effectuate the exchanges contemplated by Section 4.9(a) above, the Trust is hereby authorized to execute, deliver and perform, and the Depositor or any Administrative Trustee on
behalf of the Trust, acting singly or collectively, is hereby authorized to execute and deliver on behalf of the Trust, an exchange agreement, cancellation letter, and any and all other documents, agreements, or certificates
contemplated by or related to the exchanges made pursuant to Section 4.9(a) above, in each case without further vote or approval of any other Person. 
 ARTICLE V 
 TRUST SECURITIES CERTIFICATES 
 Section 5.1 Initial Ownership. 
 Upon
the creation of the 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 Trust. 
 Section 5.2 The Trust Securities Certificates. 
 The Trust Securities Certificates shall be issued in minimum denominations of $1,000 Liquidation Amount and integral multiples of $1,000 in excess
thereof. The Trust Securities Certificates (other than Predecessor Preferred Securities Certificates and Predecessor Common Securities Certificates) shall be executed on behalf of the Trust by manual or facsimile signature of at least one
Administrative Trustee. Trust Securities Certificates bearing the manual or facsimile signatures of individuals who were, at the time when such signatures shall have been affixed, authorized to sign on behalf of the Trust, shall be validly issued
and entitled to the benefits of this Declaration, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the delivery of such Trust Securities 

  

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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 Sections 5.4, 5.11 and 5.13. 

Section 5.3 Authentication of Preferred Securities Certificates. 
 Each Preferred Securities Certificate (other than a Predecessor Preferred Securities Certificate) shall be dated the date of its authentication. No Preferred Securities Certificate (other than a Predecessor Preferred
Securities Certificate) shall be entitled to any benefit under this Declaration of Trust or be valid or obligatory for any purpose, unless there appears on such Preferred Securities Certificate a certificate of authentication substantially in the
form provided for in the form attached as Exhibit D executed by the Property Trustee by the manual signature of one of its Authorized Officers, and such certificate upon any Preferred Securities Certificate shall be conclusive evidence, and the only
evidence, that such Preferred Securities Certificate has been duly authenticated and delivered hereunder. No Predecessor Preferred Securities Certificate shall be entitled to any benefit under this Declaration of Trust or be valid or obligatory for
any purpose, unless it shall have been executed and authenticated in the manner required by the 2007 Declaration. 
 Section 5.4
Registration of Transfer and Exchange of Trust Securities Certificates. 
 The Property Trustee shall keep or cause to be kept, at its
Corporate Trust Office, a register or registers for the purpose of registering Trust Securities Certificates and transfers and exchanges of Trust Securities Certificates (the “Securities Register”), in which the registrar and
transfer agent with respect to the Trust Securities designated by the Depositor (the “Securities Registrar”), subject to such reasonable regulations as it may prescribe, shall provide for the registration of Preferred Securities
Certificates and Common Securities Certificates (subject to Section 5.10 in the case of the Common Securities Certificates) and registration of transfers and exchanges of Trust Securities Certificates as herein provided. The Property Trustee
shall be the initial Securities Registrar. The provisions of Sections 8.1, 8.3 and 8.6 shall apply to the Property Trustee also in its role as Securities Registrar, for so long as the Property Trustee shall act as Securities Registrar.

 Upon surrender for registration of transfer of any Trust Securities Certificate at the office or agency maintained pursuant to
Section 5.8, the Administrative Trustees or any one of them shall execute and deliver, in the name of the designated transferee or transferees, one or more new Trust Securities Certificates in authorized denominations of a like aggregate
Liquidation Amount dated the date of execution by such Administrative Trustee or Trustees. 
 The Securities Registrar shall not be required,
(i) to issue, register the transfer of or exchange any Preferred Security during a period beginning at the opening of business 15 days before the day of selection for redemption of such Preferred 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 Preferred Security so selected for redemption in whole or in part, except, in the case of any such Preferred Security
to be redeemed in part, any portion thereof not to be redeemed. At the option of a Holder, Preferred Securities Certificates may be exchanged for other Preferred Securities Certificates in authorized denominations of the same class and of a like
aggregate Liquidation Amount upon surrender of the Preferred Securities Certificates to be exchanged at the office or agency maintained pursuant to Section 5.8. 
 Every Trust Securities Certificate presented or surrendered for registration of transfer or exchange shall be duly endorsed and accompanied by a written instrument of transfer in form satisfactory to an 

  

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Administrative Trustee and the Securities Registrar duly executed by the Holder or his attorney duly authorized in writing. Each Trust Securities Certificate
surrendered for registration of transfer or exchange or for payment shall be canceled and subsequently disposed of by an Administrative Trustee or Securities Registrar in accordance with such Person’s customary practice. 
 No service charge shall be made for any registration of transfer or exchange of Trust Securities Certificates, but the Securities Registrar may require
payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or exchange of Trust Securities Certificates. 
 The Property Trustee shall not be required to ensure or verify compliance with securities laws, including the Securities Act, the Exchange Act and 1940 Act, in connection with transfers and exchanges of Preferred
Securities Certificates. 
 Section 5.5 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 Administrative Trustees such security or indemnity as may be required by
them to save each of them harmless, then in the absence of notice that such Trust Securities Certificate shall have been acquired by a protected purchaser, the Administrative Trustees, or any one of them, on behalf of the Trust shall execute and
make available for delivery, 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 Administrative Trustees 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 shall constitute conclusive evidence of an undivided beneficial interest in the Trust Property, as if originally issued, whether or not the lost, stolen or destroyed Trust
Securities Certificate shall be found at any time. 
 If any such mutilated, destroyed, lost or stolen Trust Securities Certificate has
become or is about to become due and payable, the Administrative Trustees in their discretion may, instead of issuing a new Trust Securities Certificate, pay such Trust Securities Certificate. 
 The provisions of this Section 5.5 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the
replacement of mutilated, destroyed, lost or stolen Trust Securities Certificates. 
 Section 5.6 Persons Deemed Holders. 

The Trustees or the Securities Registrar shall treat the Person in whose name any Trust Securities Certificate shall be registered in the Securities
Register as the owner of such Trust Securities Certificate for the purpose of receiving Distributions and for all other purposes whatsoever, and neither the Trustees nor the Securities Registrar shall be bound by any notice to the contrary.

 Section 5.7 Access to List of Holders’ Names and Addresses. 
 Each Holder and each Owner shall be deemed to have agreed not to hold the Depositor, or any of the Trustees, accountable by reason of the disclosure of
its name and address, regardless of the source from which such information was derived. 
  

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 Section 5.8 Maintenance of Office or Agency. 
 The Administrative Trustees shall maintain an office or offices or agency or agencies where Preferred Securities Certificates may be surrendered for
registration of transfer or exchange and where notices and demands to or upon the Trustees in respect of the Trust Securities Certificates may be served. The Administrative Trustees initially designate Deutsche Bank Trust Company Americas, 60 Wall
Street, New York, New York 10005 Attention: Trust and Securities Services, as their principal corporate trust office for such purposes. The Administrative Trustees shall give prompt written notice to the Depositor and to the Holders of any change in
the location of the Securities Register or any such office or agency. 
 Section 5.9 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
and the Administrative Trustees. Any Paying Agent shall have the power to receive funds (and if the Paying Agent shall also be the Property Trustee, such Paying Agent shall have the power to withdraw funds) from the Payment Account solely for the
purpose of making the Distributions referred to above. The Administrative Trustees may revoke such power and remove the Paying Agent if such Trustees determine in their sole discretion that the Paying Agent shall have failed to perform its
obligations under this Declaration in any material respect. The Paying Agent shall initially be the Bank, and any co-paying agent chosen by the Bank, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Paying Agent
shall be permitted to resign as Paying Agent upon 30 days’ written notice to the Administrative Trustees, the Property Trustee and the Depositor. In the event that the Bank shall no longer be the Paying Agent or a successor Paying Agent shall
resign or its authority to act be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Property Trustee and the Depositor to act as Paying Agent (which shall be a bank or trust company). The Administrative
Trustees shall cause such successor Paying Agent or any additional Paying Agent appointed by the Administrative Trustees to execute and deliver to the Trustees an instrument in which such successor Paying Agent or additional Paying Agent shall agree
with the Trustees 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 shall apply to the Bank also in its capacity 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 Declaration to the Paying
Agent shall include any co-paying agent unless the context requires otherwise. 
 Section 5.10 Ownership of Common Securities by
Depositor. 
 At the Effective Time and pursuant to the Agreement of Merger, the Depositor shall acquire and retain beneficial and record
ownership of the Common Securities. To the fullest extent permitted by law, other than a transfer to an Affiliate of the Depositor or in connection with a transaction permitted pursuant to Article Eight of the Indenture (and in either case only upon
an effective assignment and delegation by the Holder of all the Common Securities to its transferee of all of its rights and obligations under the Expense Agreement), any attempted transfer of the Common Securities shall be void provided,
however, that any transfer of the Common Securities to an Affiliate of the Depositor shall be conditioned upon satisfaction of both of the following: (a) the Depositor shall continue to maintain, directly or indirectly, 100% ownership of
the Common Securities and (b) the Trust shall not be required to register as an investment company under the 1940 Act as a result of such transfer. The Administrative Trustees shall cause each Common Securities Certificate issued to the
Depositor to contain a legend stating “THIS 

  

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CERTIFICATE IS NOT TRANSFERABLE OTHER THAN IN ACCORDANCE WITH SECTION 5.10 
 OF THE DECLARATION.” 
 Section 5.11 Global Preferred Securities Certificates. 
 Pursuant to the 2007 Declaration, the Predecessor Preferred Securities Certificates, upon original issuance, were issued in the form of a Preferred
Securities Certificate or Certificates representing Global Preferred Securities, and delivered to, or as instructed by, The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Trust. Such Preferred Securities Certificate
or Certificates were registered on the Securities Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Owner will receive a Definitive Preferred Securities Certificate representing such Owner’s
interest in such Preferred Securities and no transfer of the certificate representing the Book-Entry Preferred Security in whole or in part may be registered, in the name of any Person other than the Clearing Agency for such Book-Entry Preferred
Security or a nominee thereof, except as provided in Section 5.13. Unless and until Definitive Preferred Securities Certificates have been issued to Owners pursuant to Section 5.13: 
 (i) the Securities Registrar and the Trustees shall be entitled to deal with the Clearing Agency for all purposes of this Declaration
relating to the Global Preferred Securities (including the payment of the Liquidation Amount of and Distributions on the Preferred Securities evidenced by Book-Entry Preferred Securities Certificates and the giving of instructions or directions to
Owners of Preferred Securities evidenced by Book-Entry Preferred Securities Certificates) as the sole Holder of Preferred Securities and shall have no obligations to the Owners thereof; 
 (ii) to the extent that the provisions of this Section 5.11 conflict with any other provisions of this Declaration, the provisions of
this Section 5.11 shall control; and 
 (iii) the rights of the Owners of the Book-Entry Preferred Securities
Certificates 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 and/or the Clearing Agency Participants. Pursuant to the Certificate
Depository Agreement, unless and until Definitive Preferred Securities Certificates are issued pursuant to Section 5.13, the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit
payments on the Preferred Securities to such Clearing Agency Participants. 
 Section 5.12 Notices to Clearing Agency. 
 To the extent that a notice or other communication to the Holders or Owners is required under this Declaration, unless and until Definitive Preferred
Securities Certificates shall have been issued to Owners pursuant to Section 5.13, the Trustees shall give all such notices and communications specified herein to be given to Holders and Owners to the Clearing Agency, and shall have no
obligations to the Owners. 
 Section 5.13 Definitive Preferred Securities Certificates. 
 If (a) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its
responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, (b) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry
system through the Clearing Agency, (c) the Clearing Agency ceases to be a clearing agency registered under the Exchange Act and no qualified successor is 

  

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appointed by the Administrative Trustees within 90 days after its receipt of such notice or its becoming aware of such cessation, or (d) there shall
have occurred and be continuing a Debenture Event of Default, then an Administrative Trustee shall notify the Clearing Agency and the Clearing Agency shall notify all Owners of Book-Entry Preferred Securities Certificates and the other Trustees of
the occurrence of any such event and of the availability of the Definitive Preferred Securities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Property Trustee or Registrar of the
typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees, or any one of them, shall
execute the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall 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. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as
Holders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the
Administrative Trustees or any one of them. 
 Section 5.14 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 2.9,
and the Holders shall not have any right or title therein other than the undivided beneficial interest in the assets of the 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 Trust except as described below. The Trust Securities shall be personal property giving only the rights specifically set forth therein and in this Declaration. The Trust Securities shall have no preemptive or similar rights.
When issued and delivered to Holders of Preferred Securities against payment of the purchase price therefor, the Preferred Securities will be fully paid and nonassessable undivided beneficial interests in the Trust Property. The Holders, 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 General Corporation Law of the State of Delaware. 
 (b) For so long as any Preferred Securities remain Outstanding, if, upon a Debenture Event of Default, the Debenture Trustee fails or the holders of not
less than 25% in aggregate principal amount of the outstanding Debentures fail to declare the principal of all of the Debentures to be immediately due, the Holders of at least 25% in aggregate Liquidation Amount of the Preferred Securities then
Outstanding shall have such right by a notice in writing to the Depositor, the Property Trustee and the Debenture Trustee; and upon any such declaration such principal amount of and the accrued interest on all of the Debentures shall become
immediately due, provided that the payment of principal and interest on such Debentures shall remain subordinated to the extent provided in the Indenture. 
 At any time after such a declaration of acceleration with respect to the Debentures has been made and before a judgment or decree for payment of the money due has been obtained by the Debenture Trustee as in the
Indenture provided, the Holders of at least a Majority in Liquidation Amount of the Preferred Securities, by written notice to the Property Trustee, the Depositor and the Debenture Trustee, may rescind and annul such declaration and its consequences
if: 
 (i) the Depositor has paid or deposited with the Debenture Trustee a sum sufficient to pay 
 (A) all overdue installments of interest (including any Additional Interest) on all of the Debentures, 
  

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 (B) the principal of (and premium, if any, on) any Debentures which have become due
otherwise than by such declaration of acceleration and interest thereon at the rate borne by the Debentures, and 
 (C) all
sums paid or advanced by the Debenture Trustee under the Indenture and the reasonable compensation, expenses, disbursements and advances of the Debenture Trustee and the Property Trustee, their agents and counsel; and 
 (ii) all Events of Default with respect to the Debentures, other than the non- payment of the principal of the Debentures which has
become due solely by such acceleration, have been cured or waived as provided in Section 513 of the Indenture. 
 The Holders of at
least a Majority in Liquidation Amount of the Preferred Securities may, on behalf of the Holders of all the Preferred Securities, waive any past default under the Indenture or Debenture Event of Default with respect to the Debentures, 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 Debenture 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 Debenture. Upon any such waiver, such default or Debenture Event of Default shall cease to
exist and any default or Debenture Event of Default arising therefrom shall be deemed to have been cured for every purpose of the Indenture, but no such waiver 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 any part of
the Preferred Securities, a record date shall be established for determining Holders of Outstanding Preferred 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 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 5.14(b). 
 (c) For so long as any Preferred Securities remain Outstanding, to the fullest extent permitted by law and subject to the terms of this Declaration and the Indenture, upon a Debenture Event of Default specified in Section 2.9(a) of the
Supplemental Indenture, any Holder of Preferred Securities shall have the right to institute a proceeding directly against the Depositor, pursuant to Section 508 of the Indenture, for enforcement of payment to such Holder of any amounts payable
in respect of Debentures having an aggregate principal amount equal to the Liquidation Amount of the Preferred Securities of such Holder (a “Direct Action”). Except as set forth in Section 5.14(b) and this Section 5.14(c),
Holders of Preferred Securities shall have no right to exercise directly any right or remedy available to holders of, or in respect of, Debentures. 
 (d) Except as otherwise provided in paragraphs (a), (b) and (c) of this Section 5.13, the Holders of at least a Majority in Liquidation Amount of the Preferred Securities may, on behalf of the 

  

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Holders of all the Preferred Securities, waive any past default or Event of Default and its consequences. Upon such waiver, any such default or Event of
Default shall cease to exist, and any default or Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Declaration, but no such waiver shall extend to any subsequent or other default or Event of Default or
impair any right consequent thereon. 
 ARTICLE VI 
 ACTS OF HOLDERS; MEETINGS; VOTING 
 Section 6.1 Limitations on Voting Rights. 
 (a) Except as provided in this Declaration and in the Indenture, and as otherwise required by law, no Holder of Preferred Securities shall have any right
to vote or in any manner otherwise control the administration, operation and management of the 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 partners or members of an association. 
 (b) So long as any Debentures are
held by the Property Trustee, the Trustees shall not (i) direct the time, method or place of conducting any proceeding for any remedy available to the Debenture Trustee, or executing any trust or power conferred on the Debenture Trustee with
respect to such Debentures, (ii) waive any past default which is waivable under Section 513 of the Indenture, (iii) exercise any right to rescind or annul a declaration that the principal of all the Debentures shall be due and payable
or (iv) consent to any amendment, modification or termination of the Indenture or the 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 Preferred Securities; provided, however, that where a consent under the Indenture would require the consent of each holder of Debentures affected thereby, no such consent shall be given by the Property Trustee without the prior
written consent of each Holder of Preferred Securities. The Trustees shall not revoke any action previously authorized or approved by a vote of the Holders of Preferred Securities, except by a subsequent vote of the Holders of Preferred Securities.
The Property Trustee shall notify all Holders of Preferred Securities of any notice of default received from the Debenture Trustee with respect to the Debentures. In addition to obtaining the foregoing approvals of Holders of Preferred Securities,
prior to taking any of the foregoing actions, the Trustees shall, at the expense of the Depositor, obtain an Opinion of Counsel experienced in such matters to the effect that such action shall not cause the Trust to be classified as other than a
grantor trust or taxable as a corporation for United States federal income tax purposes. 
 (c) If any proposed amendment to the Declaration
provides for, or the Trustees otherwise propose to effect, (i) any action that would adversely affect in any material respect the powers, preferences or special rights of the Preferred Securities, whether by way of amendment to this Declaration
or otherwise, or (ii) the dissolution, winding-up or termination of the Trust, other than pursuant to the terms of this Declaration, then the Holders of Outstanding Preferred 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 Preferred Securities. Notwithstanding any other provision of this Declaration, no amendment to
this Declaration may be made if, as a result of such amendment, it would cause the Trust to be classified as other than a grantor trust or taxable as a corporation for United States federal income tax purposes. 
  

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 Section 6.2 Notice of Meetings. 
 Notice of all meetings of Holders of Preferred Securities, stating the time, place and purpose of the meeting, shall be given by the Property Trustee
pursuant to Section 10.8 to each such Holder at such Holder’s address as it appears in the Securities Register as of the record date for such meeting. Such notice shall be sent, first-class mail, 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 of Preferred Securities. 
 No annual meeting of Holders is required to be held. The Administrative Trustees, however, shall call a meeting of Holders of Preferred Securities to vote on any matter upon the written request of the Holders of
record of at least 25% in aggregate Liquidation Amount of Outstanding Preferred Securities and the Administrative Trustees or the Property Trustee may, at any time in their discretion, call a meeting of Holders of Preferred Securities to vote on any
matters as to which Holders of Preferred Securities are entitled to vote. Holders of at least a Majority in Liquidation Amount of the Preferred Securities, present in person or by proxy, shall constitute a quorum at any meeting of Holders of
Preferred Securities. 
 If a quorum is present at a meeting, an affirmative vote by the Holders of record present, in person or by proxy,
holding at least a Majority in Liquidation Amount of the Preferred Securities held by the Holders of record present, either in person or by proxy, at such meeting shall constitute the action of the Holders of Preferred Securities, unless this
Declaration requires a lesser or greater number of affirmative votes. 
 Section 6.4 Voting Rights. 
 In respect of any matter as to which a Holder is entitled to vote, such Holder shall be entitled to one vote for each $1,000 of Liquidation Amount Trust
Securities held of record by such Holder. 
 Section 6.5 Proxies, etc. 
 At any meeting of Holders, any Holder entitled to vote thereat may vote by proxy, provided that no proxy shall be voted at any meeting unless it shall
have been placed on file with the Administrative Trustees, or with such other officer or agent of the Trust as the Administrative Trustees 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 which may be taken by Holders at a meeting may be taken without a meeting and without prior notice if
Holders holding a Majority in Liquidation Amount of the Preferred Securities 

  

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entitled to vote in respect of such action (or such lesser or greater proportion thereof as shall be required by any express provision of this Declaration)
shall consent to the action in writing. Any action that may be taken by the Holders of all the Common Securities may be taken if such Holders shall consent to the action in writing. 
 Section 6.7 Record Date for Voting and Other Purposes. 
 Except as provided in Section 5.14(b), for the purpose of determining the Holders who are entitled to notice of and to vote at any meeting or to act 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 Declaration, or for the purpose of any other action, the Administrative Trustees 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 Declaration to be given, made or taken by Holders or Owners may be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such Holders or Owners 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 an
Administrative Trustee and the Property Trustee. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders or Owners 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 Declaration and (subject to Section 8.1) conclusive in favor of the Trustees, if made in the manner
provided in this Section 6.8. 
 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 to 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 any Trustee 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 Trustees or the 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 between the Holders and the Administrative Trustees or among such Holders or
Trustees with respect to the authenticity, validity or binding nature of any request, demand, authorization, direction, consent, waiver or other Act of such Holder or 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 prior written notice to the Administrative Trustees and the Property Trustee, the records of the Trust shall be open to inspection by any
Holder 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 and the Delaware Trustee. 
 The
Property Trustee and the Delaware Trustee, each severally on behalf of and as to itself alone, hereby represents and warrants for the benefit of the Depositor and the Holders that: 
 (a) the Property Trustee is a banking corporation, duly organized, validly existing and in good standing under the laws of the State of New York;

 (b) the Property Trustee has full corporate power, authority and legal right to execute, deliver and perform its obligations under this
Declaration and has taken all necessary action to authorize the execution, delivery and performance by it of this Declaration; 
 (c) the
Delaware Trustee is a banking corporation duly organized, validly existing and in good standing under the laws of the State of Delaware; 
 (d) the Delaware Trustee has full corporate power, authority and legal right to execute, deliver and perform its obligations under this Declaration and has taken all necessary action to authorize the execution, delivery and performance by
it of this Declaration; 
 (e) this Declaration has been duly authorized, executed and delivered by the Property Trustee and the Delaware
Trustee and constitutes the valid and legally binding agreement of each of the Property Trustee and the Delaware Trustee enforceable against each of them in accordance with its 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; 
 (f) the execution, delivery and performance of this Declaration have been duly authorized by all necessary corporate or other action on the part of the Property Trustee and the Delaware Trustee and do not require any
approval of stockholders of the Property Trustee or the Delaware Trustee and such execution, delivery and performance will not (i) violate the Charter or By-laws of the Property Trustee or the Delaware Trustee, (ii) 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 properties included in the Trust Property pursuant to the provisions of, any indenture, mortgage, credit
agreement, license or other agreement or instrument to which the Property Trustee or the Delaware Trustee is a party or by which it is bound, or (iii) violate any law, governmental rule or regulation of the United States, the State of Delaware
or the State of New York, as the case may be, governing the banking, trust or general powers of the 

  

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Property Trustee or the Delaware Trustee (as appropriate in context) or any order, judgment or decree applicable to the Property Trustee or the Delaware
Trustee; 
 (g) neither the authorization, execution or delivery by the Property Trustee or the Delaware Trustee of this Declaration nor the
consummation of any of the transactions by the Property Trustee or the Delaware Trustee (as appropriate in context) contemplated herein requires the consent or approval of, the giving of notice to, the registration with or the taking of any other
action with respect to any governmental authority or agency under any existing federal law governing the banking, trust or general powers of the Property Trustee or the Delaware Trustee, as the case may be, under the laws of the United States, the
State of Delaware or the State of New York (other than the filing of appropriate certificates in accordance with the Delaware Statutory Trust Act); 
 (h) there are no proceedings pending or, to the best of each of the Property Trustee’s and the Delaware Trustee’s knowledge, threatened against or affecting the Property Trustee or the Delaware Trustee in any court or before any
governmental authority, agency or arbitration board or tribunal which, individually or in the aggregate, would materially and adversely affect the Trust or would question the right, power and authority of the Property Trustee or the Delaware
Trustee, as the case may be, to enter into or perform its obligations as one of the Trustees under this Declaration. 
 Section 7.2
Representations and Warranties of Depositor. 
 The Depositor hereby represents and warrants for the benefit of the Holders that the
Trust Securities Certificates issued on behalf of the Trust have been duly authorized and will have been, duly and validly executed, issued and delivered by an Administrative Trustee pursuant to the terms and provisions of, and in accordance with
the requirements of, this Declaration (or, in the case of the Predecessor Preferred Securities Certificates and Predecessor Common Securities Certificates, by an administrative trustee of the 2007 Trust pursuant to the terms and provisions of, and
in accordance with the requirements of, the 2007 Declaration) and the Holders will be, as of each such date, entitled to the benefits of this Declaration. 
 ARTICLE VIII 
 THE TRUSTEES 
 Section 8.1 Certain Duties and Responsibilities. 
 (a) The duties and responsibilities of the Trustees shall be as expressly provided by this Declaration and, in addition, in the case of the Property Trustee, by the Trust Indenture Act. Notwithstanding the foregoing,
no provision of this Declaration shall require the Trustees to expend or risk their own funds or otherwise to 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 therein expressly so provided, every provision of this Declaration
relating to the conduct or affecting the liability of or affording protection to the Trustees shall be subject to the provisions of this Section 8.1. 
 (b) No provision in this Declaration shall be construed to release a Trustee from liability for his own negligent action, his own negligent failure to act, or his own willful misconduct. To the extent that, at law or
in equity, a Trustee has duties (including fiduciary duties) to the Trust or to the Holders, and liabilities relating thereto, such Trustee shall not be liable to the Trust or to any Holder for such Trustee’s good faith reliance on the
provisions of this Declaration. The provisions of this Declaration, to 

  

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the extent that they restrict the duties and liabilities of the Trustees otherwise existing at law or in equity, are agreed by the Depositor and the Holders
to replace such other duties and liabilities of the Trustees. 
 (c) 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 the Trustees are not 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(c) does not limit the liability of
the Trustees expressly set forth elsewhere in this Declaration or, in the case of the Property Trustee, in the Trust Indenture Act. 
 (d) No
provision of this Declaration 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) 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; 
 (ii) 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 not less than a Majority in Liquidation Amount of the Preferred 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 Declaration; 
 (iii) the Property Trustee’s sole duty with respect to the custody, safe keeping and physical preservation of the 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
Declaration and the Trust Indenture Act; 
 (iv) 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; and 
 (v) the Property Trustee shall not be responsible
for monitoring the compliance by the Administrative Trustees or the Depositor with their respective duties under this Declaration, nor shall the Property Trustee be liable for the default or misconduct of the Administrative Trustees or the
Depositor. 
 Section 8.2 Certain Notices. 
 Within five Business Days after the occurrence of any Event of Default actually known to 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, the Administrative Trustees and the Depositor, unless such Event of Default shall have been cured or waived. 
  

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 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 Debentures pursuant to the Indenture, as supplemented by the Supplemental Indenture, the Administrative Trustee shall transmit, in the manner and to the extent provided in Section 10.8, written notice of
such exercise to the Holders and the Property Trustee, 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 believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (b) if (i) in performing its duties under this Declaration the Property Trustee is required to decide between alternative courses of action or (ii) in construing any of the provisions of this Declaration the Property Trustee finds
the same ambiguous or inconsistent with any other provisions contained herein or (iii) the Property Trustee is unsure of the application of any provision of this Declaration, then, except as to any matter as to which the Holders of Preferred
Securities are entitled to vote under the terms of this Declaration, the Property Trustee shall deliver a notice to the Depositor requesting written instructions of the Depositor as to the course of action to be taken and the Property Trustee shall
take such action, or refrain from taking such action, as the Property Trustee shall be instructed in writing to take, or to refrain from taking, by the Depositor; provided, however, that if the Property Trustee does not receive such
instructions of the Depositor within ten Business Days after it has delivered such notice, or such reasonably shorter period of time set forth in such notice (which to the extent practicable shall not be less than two Business Days), it may, but
shall be under no duty to, take or refrain from taking such action not inconsistent with this Declaration as it shall deem advisable and in the best interests of the Holders, in which event the Property Trustee shall have no liability except for its
own bad faith, negligence or willful misconduct; 
 (c) any direction or act of the Depositor or the Administrative Trustees contemplated by
this Declaration shall be sufficiently evidenced by an Officers’ Certificate; 
 (d) whenever in the administration of this Declaration,
the Property Trustee shall deem it desirable that a matter be established before undertaking, suffering or omitting any action hereunder, the Property Trustee (unless other evidence is herein specifically prescribed) may, in the absence of bad faith
on its part, request and rely upon an Officers’ Certificate which, upon receipt of such request, shall be promptly delivered by the Depositor or the Administrative Trustees; 
 (e) 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 rerecording, refiling or reregistration thereof; 
 (f) the Property Trustee may
consult with counsel (which counsel may be counsel to the Depositor or any of its Affiliates, and may include any of its employees) and the advice of such 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 and in accordance with such advice; the Property 

  

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Trustee shall have the right at any time to seek instructions concerning the administration of this Declaration from any court of competent jurisdiction;

 (g) the Property Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Declaration at the
request or direction of any of the Holders pursuant to this Declaration, unless such Holders shall have offered to the Property Trustee reasonable 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, however, that, nothing contained in this Section 8.3(g) 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 Declaration; 
 (h) 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; 
 (i) the Property Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through its agents, attorneys, custodians or nominees provided that the Property
Trustee shall be responsible for its own misconduct or negligence with respect to selection of any agent, attorney, custodian or nominee appointed by it hereunder; 
 (j) whenever in the administration of this Declaration 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 of the Trust Securities 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; 
 (k) except as otherwise expressly provided by this Declaration, the
Property Trustee shall not be under any obligation to take any action that is discretionary under the provisions of this Declaration; and 
 (l) without prejudice to any other rights available to the Property Trustee under applicable law, when the Property Trustee incurs expenses or renders services in connection with a Bankruptcy Event, such expenses (including legal fees and
expenses of its counsel) and the compensation for such services are intended to constitute expenses of administration under any bankruptcy law or law relating to creditors rights generally. 
 No provision of this Declaration shall be deemed to impose any duty or obligation on the Property Trustee 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 shall be construed to be a duty. The Delaware Trustee shall have the same rights and benefits as the Property Trustee under
this paragraph and paragraphs (a) through (l) of this Section 8.3. 
 Whether or not therein expressly so provided, every
provision of this Declaration relating to the conduct or affecting the liability of or affording protection to the Property Trustee shall extend to each of 

  

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the Security Registrar, the Paying Agent and the Delaware Trustee and shall be subject to the provisions of this Article VIII. 
 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 Trust, and the Trustees do not assume any responsibility for their correctness. The Trustees shall not be
accountable for the use or application by the Depositor of the proceeds of the Debentures. 
 Section 8.5 May Hold Securities.

 Any Trustee or any other agent of any Trustee or the Trust, in its individual or any other capacity, may become the owner or pledgee
of Trust Securities and, subject to Sections 8.8 and 8.13 and except as provided in the definition of the term “Outstanding” in Article I, may otherwise deal with the Trust with the same rights it would have if it were not a Trustee or
such other agent. 
 Section 8.6 Compensation; Indemnity; Fees. 
 The Depositor agrees: 
 (a) to pay to the
Trustees from time to time reasonable compensation for all services rendered by them hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (b) except as otherwise expressly provided herein, to reimburse the Trustees upon request for all reasonable expenses, disbursements and advances
incurred or made by the Trustees in accordance with any provision of this Declaration (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be
attributable to its negligence or bad faith; and 
 (c) to the fullest extent permitted by applicable law, to indemnify, defend and hold
harmless (i) each Trustee in its individual capacity, (ii) any Affiliate of any Trustee, (iii) any officer, director, shareholder, employee, representative or agent of any Trustee, and (iv) any employee or agent of the Trust or
its Affiliates, (referred to herein as an “Indemnified Person”) from and against any loss, damage, liability, tax (other than income, franchise or other taxes imposed on amounts paid pursuant to (a) or (b) hereof),
penalty, expense or claim of any kind or nature whatsoever incurred by such Indemnified Person by reason of or in connection with the creation, existence, operation or termination of the Trust or any act or omission performed or omitted by such
Indemnified Person in good faith on behalf of the Trust and in a manner such Indemnified Person reasonably believed to be within the scope of authority conferred on such Indemnified Person by this Declaration, except that no Indemnified Person shall
be entitled to be indemnified pursuant to this Section 8.6 in respect of any loss, damage or claim incurred by such Indemnified Person by reason of negligence or willful misconduct with respect to such acts or omissions. 
 The provisions of this Section 8.6 shall survive the termination of this Declaration. No Trustee may claim any Lien on any Trust Property as a
result of any amount due pursuant to this Section 8.6. 
 The Depositor and any Trustee (in the case of the Property Trustee, subject to
Section 8.8) 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 Trust, and the Trust and the Holders of Trust 

  

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Securities shall have no rights by virtue of this Declaration in and to such independent ventures or the income or profits derived therefrom, and the pursuit
of any such venture, even if competitive with the business of the Trust, shall not be deemed wrongful or improper. Neither the Depositor, nor any Trustee, shall be obligated to present any particular investment or other opportunity to the Trust even
if such opportunity is of a character that, if presented to the Trust, could be taken by the Trust, and the Depositor or any 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. Any 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 Trustees. 
 (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 eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000. 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. 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 Administrative Trustees hereunder with respect to the Trust Securities. Each Administrative Trustee 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 or officer of the Depositor or a subsidiary of the Depositor may serve as an
Administrative Trustee. 
 (c) There shall at all times be a Delaware Trustee with respect to the Trust Securities. The Delaware Trustee
shall either be (i) a natural person who is at least 21 years of age and a resident of the State of Delaware or (ii) a legal entity with its principal place of business in the State of Delaware and that otherwise meets the requirements of
applicable Delaware law, as the same now exists or as may hereafter be amended, and that shall act through one or more persons authorized to bind such entity. 
 Section 8.8 Conflicting Interests. 
 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 Declaration.
The Guarantee and the Indenture shall be deemed to be specifically described in this Declaration for the purposes of clause (i) of the first proviso contained in Section 310(b) of the Trust Indenture Act. 
 Section 8.9 Co-Trustees and Separate Trustee. 
 Unless an 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 Depositor and the Administrative Trustees, by agreed action of the majority of such Trustees, shall have power to appoint, and upon the written request 

  

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of the Administrative Trustees, the Depositor shall for such purpose join with the Administrative Trustees in the execution, delivery, and performance of all
instruments and agreements necessary or proper to appoint, one or more Persons approved by the Property Trustee 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 the Depositor does not join in such appointment within 15 days after the receipt by it of a request so to do, or in case a Debenture Event of Default shall have occurred and
be continuing, the Property Trustee alone shall have power to make such appointment. 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 and delivered 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 Trustees specified hereunder shall be exercised solely by such Trustees 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 or 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 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 resigning or removed may be appointed in the manner provided in this Section. 
 (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. 
  

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 (e) The Property Trustee shall not be liable by reason of any act or omission 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. 
 No resignation or removal of any Trustee (the “Relevant 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. 
 Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by giving written notice thereof to the Holders, except that no such notice shall be required in the case of resignation of
an Administrative Trustee. If the instrument of acceptance by the successor Trustee required by Section 8.11 shall not have been delivered to the Relevant Trustee within 30 days after the giving of such notice of resignation, the Relevant
Trustee may petition, at the expense of the Trust, any court of competent jurisdiction for the appointment of a successor Relevant Trustee. 
 Unless a Debenture Event of Default shall have occurred and be continuing, any Trustee may be removed at any time by Act of the Common Holder. If a Debenture Event of Default shall have occurred and be continuing, the Property Trustee or
the Delaware Trustee, or both of them, may be removed at such time by Act of the Holders of a Majority in Liquidation Amount of the Preferred Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Trust). An
Administrative Trustee may be removed by the Common Holder at any time. If any Trustee shall resign, be removed or become incapable of acting as Trustee, or if a vacancy shall occur in the office of any Trustee for any cause, at a time when no
Debenture Event of Default shall have occurred and be continuing, the Common Holder, by Act of the Common Holder delivered to the retiring Relevant Trustee, shall promptly appoint a successor Relevant Trustee or Trustees, and the retiring Relevant
Trustee shall comply with the applicable requirements of Section 8.11. If the Property Trustee or the Delaware Trustee shall resign, be removed or become incapable of continuing to act as the Property Trustee or the Delaware Trustee, as the
case may be, at a time when a Debenture Event of Default shall have occurred and be continuing, the Preferred Holders, by Act of the Holders of a Majority in Liquidation Amount of the Preferred Securities delivered to the retiring Relevant Trustee,
shall promptly appoint a successor Relevant Trustee or Trustees, and such successor Relevant Trustee shall comply with the applicable requirements of Section 8.11. If an Administrative Trustee shall resign, be removed or become incapable of
acting as Administrative Trustee, at a time when a Debenture Event of Default shall have occurred and be continuing, the Common Holder by Act of the Common Holder delivered to the Administrative Trustee shall promptly appoint a successor
Administrative Trustee or Administrative Trustees and such successor Administrative Trustee or Trustees shall comply with the applicable requirements of Section 8.11. If no successor Relevant Trustee shall have been so appointed by the Common
Holder or the Preferred Holders and accepted appointment in the manner required by Section 8.11, any Holder who has been a Holder of Trust Securities for at least six months may, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the appointment of a successor Relevant Trustee. 
 The Property Trustee shall give notice of each
resignation and each removal of a Trustee (other than an Administrative Trustee) and each appointment of a successor Trustee (other than an Administrative Trustee) known to it to all Holders in the manner provided in Section 10.8 and shall give
notice to the Depositor. Each notice shall include the name of the successor Relevant Trustee and the address of its Corporate Trust Office if it is the Property Trustee. 
  

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 Notwithstanding the foregoing or any other provision of this Declaration, in the event any Administrative
Trustee or a Delaware Trustee who is a natural person dies or becomes, in the opinion of the Depositor, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by (a) the unanimous act of the
remaining Administrative Trustees if there are at least two of them or (b) otherwise by the Depositor (with the successor in each case being a Person who satisfies the eligibility requirement for Administrative Trustees or Delaware Trustee, as
the case may be, set forth in Section 8.7). 
 Section 8.11 Acceptance of Appointment by Successor. 
 In case of the appointment hereunder of a successor Relevant Trustee, the retiring Relevant Trustee (if, in the case of a Trustee other than the Property
Trustee, requested by the Depositor) and each successor Relevant Trustee with respect to the Trust Securities shall execute and deliver an amendment hereto wherein each successor Relevant 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, each successor Relevant Trustee all the rights, powers, trusts and duties of the retiring Relevant Trustee with respect to the
Trust Securities and the Trust and (b) shall add to or change any of the provisions of this Declaration as shall be necessary to provide for or facilitate the administration of the Trust by more than one Relevant Trustee, it being understood
that nothing herein or in such amendment shall constitute such Relevant Trustees co-trustees. Upon the execution and delivery of such amendment, the resignation or removal of the retiring Relevant Trustee shall become effective to the extent
provided therein and each such successor Relevant Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Relevant Trustee; but, on request of the Trust or any
successor Relevant Trustee and upon payment in full of all undisputed amounts then due and owing to such retiring Relevant Trustee, such retiring Relevant Trustee shall duly assign, transfer and deliver to such successor Relevant Trustee all Trust
Property, all proceeds thereof and money held by such retiring Relevant Trustee hereunder with respect to the Trust Securities and the Trust. 
 Upon request of any such successor Relevant Trustee, the Trust shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Relevant Trustee all such rights, powers and trusts referred to in
the first or second preceding paragraph, as the case may be. 
 No successor Relevant Trustee shall accept its appointment unless at the time
of such acceptance such successor Relevant Trustee shall be qualified and eligible under this Article. 
 Section 8.12 Merger, Conversion,
Consolidation or Succession to Business. 
 Any Person into which the Property Trustee or the Delaware 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 Relevant Trustee shall be a party, or any Person succeeding to all or substantially all the corporate trust business of such
Relevant Trustee, shall be the successor of such Relevant Trustee hereunder, provided 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 other than the filing of an amendment to the Certificate of Trust to the extent required under the Delaware Statutory Trust Act. 
 Section 8.13 Preferential Collection of Claims against Depositor or Trust. 
 If and when the Property
Trustee shall be or become a creditor of the Depositor or the Trust (or any other obligor upon the Preferred Securities), the Property Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against
the Depositor or the Trust (or any such 

  

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other obligor). In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other similar judicial proceeding relative to the Trust or any other obligor upon the Trust Securities or the Trust Property or of such other obligor or their creditors, the Property Trustee (irrespective of whether any Distributions on the Trust
Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Property Trustee shall have made any demand on the 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 moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the 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 herein contained 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. 
 Section 8.14 Reports by Property Trustee. 
 Within 60 days after March 15 of each year commencing with the first March 15 after the first issuance of Trust Securities pursuant to this Declaration, the Property Trustee shall transmit by mail to all Holders of Trust
Securities as provided in Section 313(c) of the Trust Indenture Act a brief report dated as of such March 15 if and to the extent required by Section 313(a) of the Trust Indenture Act. 
 Section 8.15 Reports to the Property Trustee. 
 The Depositor and the Administrative Trustees on behalf of the Trust shall provide to the Property Trustee such documents, reports and information as required by Section 314 of the Trust Indenture Act (if any)
and the compliance certificate required by Section 314(a) of the Trust Indenture Act in the form, in the manner and at the times required by Section 314 of the Trust Indenture Act. 
 Section 8.16 Evidence of Compliance with Conditions Precedent. 
 Each of the Depositor and the Administrative Trustees on behalf of the Trust shall provide to the Property Trustee such evidence of compliance with any conditions precedent, if any, provided for in this Declaration
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 8.17 Number of Administrative Trustees. 
 (a) The number of Administrative Trustees shall be two, provided that the Holder of all the Outstanding Common Securities by written instrument may
increase or decrease the number of Administrative Trustees. The Property Trustee and the Delaware Trustee may be the same Person. No Holder of Preferred Securities may remove any Administrative Trustee. 
 (b) If an Administrative Trustee ceases to hold office for any reason and the number of Administrative Trustees is not reduced pursuant to
Section 8.17(a), or if the number of Administrative Trustees is increased pursuant to Section 8.17(a), a vacancy shall occur. The vacancy shall be filled with a Trustee appointed in accordance with Sections 8.10 and 8.11. 
 (c) The death, resignation, retirement, removal, bankruptcy, incompetence or incapacity to perform the duties of an Administrative Trustee shall not
operate to dissolve, terminate or annul the Trust. Whenever a vacancy in the number of Administrative Trustees shall occur, until such vacancy is filled by the appointment of an Administrative Trustee in accordance with Sections 8.10 and 8.11, the
Administrative Trustees in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to the Administrative Trustees and shall discharge all the duties imposed upon the
Administrative Trustees by this Declaration. 
 (d) The initial Administrative Trustees shall be Carl L. Gorday and Dana W. Nolan. Except
where a requirement for action by a specific number of Administrative Trustees is expressly set forth in this Declaration, any act required or permitted to be taken by, and any power of the Administrative Trustees may be exercised by, or with the
consent of, any one such Administrative Trustee. 
 Section 8.18 Delegation of Power. 
 (a) Any Administrative Trustee 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 2.7(a), including any registration statement or amendment thereto filed with the Commission, or making any other governmental filing; and 
 (b) The Administrative Trustees shall have power to delegate from time to time to such of their number or to the Depositor the doing of such things and
the execution of such instruments either in the name of the Trust or the names of the Administrative Trustees or otherwise as the Administrative Trustees may deem expedient, to the extent such delegation is not prohibited by applicable law or
contrary to the provisions of this Declaration, as set forth herein. 
 Section 8.19 Delaware Trustee. 
 (a) Notwithstanding any other provision of this Trust Agreement, the Delaware Trustee shall not be entitled to exercise any powers, nor shall the Delaware
Trustee have any of the duties and responsibilities of the Administrative Trustees or the Property Trustee described in this Declaration. The Delaware Trustee shall be a trustee for the sole and limited purpose of fulfilling the requirements of
Section 3807 of the Delaware Statutory Trust Act. 
 (b) It is expressly understood and agreed by the parties hereto that in fulfilling
its obligations as Delaware Trustee hereunder on behalf of the Trust (i) any agreements or instruments executed and delivered by Deutsche Bank Trust Company Delaware are executed and delivered not in its individual capacity but solely as
Delaware Trustee under this Declaration in the exercise of the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein made on 

  

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the part of the Trust is made and intended not as representations, warranties, covenants, undertakings and agreements by Deutsche Bank Trust Company Delaware
in its individual capacity but is made and intended for the purpose of binding only the Trust, and (iii) under no circumstances shall Deutsche Bank Trust Company Delaware in its individual capacity be personally liable for the payment of any
indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Trust Agreement, except if such breach or failure is due to any gross
negligence or willful misconduct of the Delaware Trustee. 
 ARTICLE IX 
 TERMINATION, LIQUIDATION AND MERGER 
 Section 9.1 Dissolution upon Expiration
Date. 
 Unless earlier dissolved, the Trust shall automatically dissolve on the Final Repayment Date (the “Expiration
Date”), following the distribution of the Trust Property in accordance with Section 9.4. 
 Section 9.2 Early Termination.

 The Trust shall dissolve upon the first to occur of any of the following events (an “Early Termination Event”):

 (a) the occurrence of a Bankruptcy Event in respect of, or the dissolution or liquidation of, the 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 Trust and, after
satisfaction of liabilities to creditors of the Trust as provided by applicable law, to distribute Debentures to Holders in exchange for the Preferred Securities (which direction is optional and wholly within the discretion of the Holder of the
Common Securities); 
 (c) the redemption of all of the Preferred Securities in connection with the redemption of all the Debentures; and

 (d) the entry of an order for dissolution of the Trust by a court of competent jurisdiction. 
 If an Early Termination Event occurs, Section 9.4 shall apply. 
 Section 9.3 Termination. 
 The respective obligations and responsibilities of the Trustees and the
Trust shall terminate upon the latest to occur of the following: 
 (a) the distribution by the Property Trustee to Holders upon the
liquidation of the Trust pursuant to Section 9.4, or upon the redemption of all of the Trust Securities pursuant to Section 4.2, of all amounts required to be distributed hereunder upon the final payment of the Trust Securities;

 (b) the payment of any expenses owed by the Trust; and 
 (c) the discharge of all administrative duties of the Administrative Trustees, including the performance of any tax reporting obligations with respect to the Trust or the Holders. 
  

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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 Trust shall
be liquidated by the Administrative Trustees as expeditiously as the Administrative Trustees determine to be possible by distributing, after satisfaction of liabilities to creditors of the Trust as provided by applicable law, to each Holder a Like
Amount of 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 30 nor more than 60 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 Debentures; 
 (iii) provide such information with respect to the mechanics by which Holders may exchange Trust Securities Certificates for Debentures, or if Section 9.4(d) applies receive a Liquidation Distribution, as the
Administrative Trustees or the Property Trustee shall deem appropriate; and 
 (iv) state the CUSIP Number of the Trust
Securities. 
 (b) Unless Section 9.2(c) or 9.4(d) applies, in order to effect the liquidation of the Trust and the distribution of
Debentures to Holders, the Property Trustee shall establish a record date for such distribution (which shall be not more than 45 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 Debentures in exchange for the Outstanding Trust Securities Certificates. 
 (c) Unless 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) certificates representing a Like Amount of Debentures will be issued to Holders of Trust Securities Certificates, upon surrender of such certificates to the Administrative Trustees or their agent for exchange, (iii) the Depositor
shall use its best efforts to have the Debentures listed on the New York Stock Exchange or on such other exchange, interdealer quotation system or self- regulatory organization on which the Preferred Securities are then listed, (iv) any Trust
Securities Certificates not so surrendered for exchange will be deemed to represent a Like Amount of Debentures, accruing interest at the rate provided for in the Debentures from the last Distribution Date on which a Distribution was made on such
Trust Securities Certificates until such certificates are so surrendered (and until such certificates are so surrendered, no payments of interest or principal will be made to Holders of Trust Securities Certificates with respect to such Debentures)
and (v) all rights of Holders holding Trust Securities will cease, except the right of such Holders to receive Debentures upon surrender of Trust Securities Certificates. 
 (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 Debentures in the manner provided herein is determined by the Property Trustee not to be practical, or if an Early Termination Event specified in clause (c) of Section 9.2 occurs, then the
Trust Property shall be liquidated, and the Trust shall be dissolved and wound up by the Property Trustee in such manner as the Property Trustee determines subject to applicable law. In such event, on the date of the dissolution of the 

  

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Trust except with respect to an Early Termination Event specified in clause (c) of 9.2, Holders will be entitled to receive out of the assets of the
Trust available for distribution to Holders, after satisfaction of liabilities to creditors of the Trust as provided by applicable law, an amount equal to the 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 winding up, the Liquidation Distribution can be paid only in part because the 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 Trust on the Trust Securities shall be paid pro rata based upon Liquidation Amounts. The Holder of the Outstanding Common Securities
will be entitled to receive Liquidation Distributions upon any such winding up pro rata, based upon Liquidation Amount, with Holders of Preferred Securities, except that the Preferred Securities shall have a priority over the Common
Securities under the circumstances provided in Section 4.3. 
 (e) Following the Expiration Date or an Early Termination Event and after
the completion of the winding up of the affairs of the Trust pursuant to this Section 9.4, one of the Trustees shall file a certificate of cancellation with the Delaware Secretary of State. 
 Section 9.5 Mergers, Consolidations, Amalgamations or Replacements of the Trust. 
 The 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 Person, except pursuant to this Article IX or as contemplated by the Agreement of Merger (the Merger having been already fully authorized, approved and ratified in all respects and with no other action being needed to authorize
such Merger). At the request of the Holder of the Common Securities, with the consent of the Administrative Trustees and without the consent of the Holders of the Preferred Securities, the Property Trustee or the Delaware Trustee, the 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 Trust with respect to the Preferred Securities or (b) substitutes for the Preferred Securities other securities having substantially the same terms as the Preferred
Securities (“Successor Securities”) so long as the Successor Securities rank the same as the Preferred Securities in priority with respect to distributions and payments upon liquidation, redemption and otherwise, (ii) the
Depositor expressly appoints a trustee of such successor entity possessing the same powers and duties as the Property Trustee as the holder of the Debentures, (iii) the Successor Securities are listed or traded, or any Successor Securities will
be listed upon notification of issuance, on any national securities exchange or other organization on which the Preferred Securities are then listed or traded, if any, (iv) such merger, consolidation, amalgamation, replacement, conveyance,
transfer or lease does not cause the Preferred Securities (including any Successor Securities) to be downgraded by any nationally recognized statistical rating organization, (v) such merger, consolidation, amalgamation, replacement, conveyance,
transfer or lease does not adversely affect the rights, preferences and privileges of the Holders of the Preferred Securities (including any Successor Securities) in any material respect, (vi) such successor entity has a purpose substantially
identical to that of the Trust, (vii) prior to such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease, the Property Trustee has received an Opinion of Counsel 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 Preferred Securities (including any Successor Securities) in any material respect, and (b) following
such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease, neither the Trust nor such successor entity will be required to register as an investment company under the 1940 Act and (viii) the Depositor or its permitted
transferee owns all of the common securities of such successor entity and guarantees the obligations of such successor entity under the Successor Securities at least to the extent provided by the Guarantee. Notwithstanding the foregoing, the Trust
shall not, except with the 

  

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consent of Holders of all Outstanding Preferred 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 Person or permit any other Person to consolidate, amalgamate, merge with or into, or replace it if such consolidation, amalgamation, merger, replacement, conveyance, transfer or lease
would cause the Trust or the successor Person to be taxable as a corporation or classified as other than 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 death or incapacity, or the dissolution, liquidation, termination, or the bankruptcy of any Person having an interest, beneficial or otherwise, in Trust Securities shall
not operate to terminate this Declaration, nor entitle the legal representatives, successors 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. 
 Section 10.2 Amendment. 
 (a) This Declaration may be amended from time to time by the Property
Trustee, Administrative Trustees and the Holder of all the Common Securities, without the consent of any Holders of Preferred 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 Declaration, which shall not be inconsistent with the other provisions of this Declaration, or (ii) to modify, eliminate or add to
any provisions of this Declaration to such extent as shall be necessary to ensure that the Debentures are treated as indebtedness of the Depositor for United States federal income tax purposes, or to ensure that the Trust will not be taxable as a
corporation or will be classified for United States federal income tax purposes other than a grantor trust at any times that any Trust Securities are outstanding or to ensure that the Trust will not be required to register as an investment company
under the 1940 Act; provided, however, that in the case of clause (i), such action shall not adversely affect in any material respect the interests of any Holder of Preferred Securities, and any such amendments of this Declaration shall
become effective when notice thereof is given to the Holders. 
 (b) Except as provided in Section 10.2(c) hereof, any provision of this
Declaration may be amended by the Trustees and the Holder of all the Common Securities with (i) the consent of Holders representing not less than a Majority in Liquidation Amount of the Preferred Securities and (ii) receipt by the Trustees
of an Opinion of Counsel to the effect that such amendment or the exercise of any power granted to the Trustees in accordance with such amendment will not cause the Trust to be taxable as a corporation for United States federal income tax purposes
or would require the Trust to register as an investment company under the 1940 Act or affect the treatment of the Debentures as indebtedness of the Depositor for United States federal income tax purposes. 
 (c) In addition to and notwithstanding any other provision in this Declaration, without the consent of each affected Holder, this Declaration may not be
amended to (i) change the amount or timing of any Distribution or otherwise adversely affect the amount of any Distribution required to be made 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; and notwithstanding any other provision herein, without the unanimous consent of the Holders, this paragraph (c) of this Section 10.2 may not be amended. 
  

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 (d) Notwithstanding any other provision of this Declaration, no Trustee shall enter into or consent to
any amendment to this Declaration which would cause the Trust to be taxable as a corporation or classified for United States federal income tax purposes as other than a grantor trust or require the Trust to register as an investment company under
the 1940 Act or that would cause the Debentures to fail or cease to be treated as indebtedness of the Depositor for United States federal income tax purposes. 
 (e) Notwithstanding anything in this Declaration to the contrary, without the consent of the Depositor, this Declaration may not be amended in a manner which imposes any additional obligation or liability on the
Depositor. 
 (f) If any amendment to this Declaration is made, the Administrative Trustees shall promptly provide to the Depositor a copy of
such amendment. 
 (g) Neither the Property Trustee nor the Delaware Trustee shall be required to enter into any amendment to this
Declaration which affects its own rights, duties or immunities under this Declaration. The Property Trustee shall be entitled to receive an Opinion of Counsel and an Officers’ Certificate stating that any amendment to this Declaration is in
compliance with this Declaration and all conditions precedent herein provided for relating to such action have been met. 
 Section 10.3
Separability. 
 If any provision in this Declaration or in the Trust Securities Certificates 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
10.4 Governing Law. 
 THIS DECLARATION AND THE RIGHTS AND OBLIGATIONS OF EACH OF THE HOLDERS, THE TRUST AND THE TRUSTEES WITH RESPECT TO
THIS DECLARATION AND THE TRUST SECURITIES SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS CONFLICTS OF LAWS PROVISIONS; PROVIDED, HOWEVER, THAT THE IMMUNITIES AND STANDARD OF
CARE OF THE PROPERTY TRUSTEE IN CONNECTION WITH THE ADMINISTRATION OF ITS TRUSTS AND DUTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK. THE PROVISIONS OF SECTION 3540 OF TITLE 12
OF THE DELAWARE CODE SHALL NOT APPLY TO THIS TRUST. 
 Section 10.5 Payments Due on Non-Business Day. 
 Except as otherwise expressly provided in Article IV hereof, 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, with the same force and effect as though made on the date fixed for such payment, and no interest shall accrue thereon
for the period after such date. 
 Section 10.6 Successors. 
 This Declaration shall be binding upon and shall inure to the benefit of any successor to the Depositor, the Trust or the Relevant Trustee, including any
successor by operation of law. Except in connection with a transaction that is permitted under Article Eight of the Indenture and pursuant to which the assignee agrees in writing to perform the Depositor’s obligations hereunder, the Depositor
shall not 

  

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assign its obligations hereunder (any purported assignment in contravention of this Section 10.6 being null and void). 
 Section 10.7 Headings. 
 The Article
and Section headings are for convenience only and shall not affect the construction of this Declaration. 
 Section 10.8 Reports,
Notices and Demands. 
 Any report, notice, demand or other communication which by any provision of this Declaration 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 Preferred Securities, to such Holder as such Holder’s name and address may appear on the Securities Register; and (b) in the case of the Common Holder or the Depositor, to Regions Financial Corporation,
1900 Fifth Avenue North, Birmingham, Alabama 35203, Attention: General Counsel, facsimile no.: (205) 581-7629. 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. 
 Any notice, demand or other communication which by any provision of this
Declaration is required or permitted to be given or served to or upon the Trust, the Property Trustee, the Delaware Trustee or the Administrative Trustees shall be given in writing by deposit thereof, first-class postage prepaid, in the United
States mail, or by hand delivery, in each case, addressed (until another address is published by the Trust) as follows: (a) with respect to the Property Trustee to Deutsche Bank Trust Company Americas, 60 Wall Street, 27th Floor, New York, New
York 10005, Attention: Trust and Securities Services; (b) with respect to the Delaware Trustee, to Deutsche Bank Trust Company Delaware, 1011 Centre Road, Suite 200, Wilmington, Delaware 19805, Attention: Corporate Trust Administration; and
(c) with respect to the Administrative Trustees, to them at the address above for notices to the Depositor, marked “Attention Administrative Trustees of Regions Financing Trust II”. Such notice, demand or other communication to or
upon the Trust or the Property Trustee shall be deemed to have been sufficiently given or made only upon actual receipt of the writing by the Trust or the Property Trustee. 
 Section 10.9 Agreement Not to Petition. 
 Each of the Trustees and the Depositor agree for the benefit of the Holders that, until at least one year and one day after the Trust has been terminated in accordance with Article IX, they shall not file, or join in the filing of, a
petition against the 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 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 otherwise properly contest the filing of such petition by the Depositor against the 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 Trustee or the Trust may assert. The provisions of this Section 10.9 shall survive the termination of this
Declaration. 
  

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 Section 10.10 Agreed Tax Treatment of Trust and Trust Securities 
 The parties hereto and, by its acceptance or acquisition of a Trust Security or a beneficial interest therein the Holder of, and any Person that acquires
a beneficial interest in, such Trust Security intend and agree to treat the Trust as a grantor trust for United States federal, state and local tax purposes, and to treat the Trust Securities (including all payments and proceeds with respect to such
Trust Securities) as undivided beneficial ownership interests in the Trust Property (and payments and proceeds therefrom, respectively) for United States federal, state and local tax purposes. The provisions of this Declaration shall be interpreted
to further this intention and agreement of the parties. 
 Section 10.11 Application of Trust Indenture Act. 
 (a) This Declaration is subject to the provisions of the Trust Indenture Act that are required to be part of this Declaration and shall, to the extent
applicable, be governed by such provisions. 
 (b) The Property Trustee shall be the only Trustee which is a trustee for the purposes of the
Trust Indenture Act. 
 (c) If any provision hereof limits, qualifies or conflicts with another provision hereof which is required to be
included in this Declaration by any of the provisions of the Trust Indenture Act, such required provision shall control. If any provision of this Declaration modifies or excludes any provision of the Trust Indenture Act which may be so modified or
excluded, the latter provision shall be deemed to apply to this Declaration as so modified or excluded, as the case may be. 
 (d) The
application of the Trust Indenture Act to this Declaration shall not affect the nature of the Trust Securities as equity securities representing undivided beneficial interests in the assets of the Trust. 
 Section 10.12 Acceptance of Terms of Declaration, 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 DECLARATION AND AGREEMENT TO THE SUBORDINATION
PROVISIONS AND OTHER TERMS OF THE GUARANTEE AND THE INDENTURE, AS SUPPLEMENTED BY THE SUPPLEMENTAL INDENTURE, AND SHALL CONSTITUTE THE AGREEMENT OF THE TRUST, SUCH HOLDER AND SUCH OTHERS THAT THE TERMS AND PROVISIONS OF THIS DECLARATION SHALL BE
BINDING, OPERATIVE AND EFFECTIVE AS BETWEEN THE TRUST AND SUCH HOLDER AND SUCH OTHERS. 
 Section 10.13 Counterparts. 
 This Declaration 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 agreement. 
 [Signatures on Next Page] 
  

 -48- 

 IN WITNESS WHEREOF, the undersigned
have executed this Amended and Restated Declaration as of the date first above written. 
  

			
	REGIONS FINANCIAL CORPORATION, as Depositor
		
	By:	 	/s/ M. Deron Smithy
		 	 Name: M. Deron Smithy
 Title: Executive Vice President and Treasurer

  

					
	DEUTSCHE BANK NATIONAL TRUST COMPANY
	For:	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity, but solely in
its capacity as Property Trustee, Paying Agent and Securities Registrar
			
		 	By:	 	/s/ Kenneth R. Ring
		 		 	 Name: Kenneth R. Ring
 Title: Vice
President

			
		 	By:	 	/s/ Irina Golovashchuk
		 		 	 Name: Irina Golovashchuk
 Title: Assistant Vice
President

  

									
		 		 	DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity, but solely in its capacity as
Delaware Trustee
					
	By:	 	/s/ David Dwyer	 		 	By:	 	/s/ Elizabeth B. Ferry
		 	 Name: David Dwyer
 Title: Vice President
	 		 		 	 Name: Elizabeth B. Ferry
 Title: Vice
President

  

	
	
	/s/ Dana Nolan
	        Name: Dana Nolan
                    as Administrative Trustee

  

	
	
	/s/ Carl L. Gorday
	        Name: Carl L. Gorday
                    as Administrative Trustee

 EXHIBIT A 
 CERTIFICATE OF TRUST OF NEW REGIONS FINANCING TRUST II 

 EXHIBIT B 
 THIS CERTIFICATE IS NOT TRANSFERABLE OTHER THAN IN ACCORDANCE WITH SECTION 5.10 OF THE DECLARATION (AS DEFINED BELOW) 
  

	 CERTIFICATE NUMBER 
	 NUMBER OF COMMON SECURITIES 

	 C-1 
	 [                            ] 

 CERTIFICATE EVIDENCING COMMON SECURITIES 
 OF 
 REGIONS FINANCING TRUST II 
 6.625% COMMON SECURITIES 
 (LIQUIDATION AMOUNT $1,000 PER COMMON SECURITY) 
 Regions Financing Trust II, a statutory trust created under the laws of the State of Delaware (the “Trust”), hereby certifies that REGIONS
FINANCIAL CORPORATION, a Delaware corporation (the “Holder”), is the registered owner of ( ) common securities of the Trust, representing undivided common beneficial interests of the Trust and designated the 6.625% Common Securities
(Liquidation Amount $1,000 per Common Security) (the “Common Securities”). Except as provided in Section 5.10 of the Declaration (as defined below) the Common Securities are not transferable and any attempted transfer hereof other
than in accordance therewith shall be null and void. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Common Securities are set forth in, and this certificate and the Common Securities represented
hereby are issued and shall in all respects be subject to the terms and provisions of, the Amended and Restated Declaration of the Trust, dated as of
                        , 2009, as the same may be amended from time to time (the “Declaration”), including the
designation of the terms of the Common Securities as set forth therein. The Trust will furnish a copy of the Declaration to the Holder without charge upon written request to the Trust at its principal place of business or registered office.

 BY RECEIPT AND ACCEPTANCE OF THIS CERTIFICATE, THE HOLDER AGREES TO BE BOUND BY THE DECLARATION AND IS ENTITLED TO THE BENEFITS
THEREUNDER. 
 This Common Securities Certificate shall be governed by and construed in accordance with the laws of the State of Delaware.

 Terms used but not defined herein have the meanings set forth in the Declaration. 
 IN WITNESS WHEREOF, the undersigned Administrative Trustee of the Trust has executed this certificate as of the
         day of                         , 2009. 
  

			
	Regions Financing Trust II
		
	By:	 	 
		 	 Name:    
 Title:
     Administrative Trustee

 EXHIBIT C 
 [Form of Expense Agreement] 
 AMENDED AND RESTATED AGREEMENT AS TO EXPENSES AND LIABILITIES 

 AMENDED AND RESTATED AGREEMENT, dated as of
June 22, 2009, between REGIONS FINANCIAL CORPORATION, a Delaware corporation (the “Corporation”), and REGIONS FINANCING
TRUST II (formerly known as New Regions Financing Trust II), a Delaware statutory trust (the “Trust”). 
 WITNESSETH: 
 WHEREAS, as a result of the merger (the “Merger”) of the
Trust with Regions Financing Trust II, a Delaware statutory trust created pursuant to the Delaware Statutory Trust Act by the entering into that certain Declaration of Trust, dated as of January 26, 2001, as amended by Amendment No. 1
thereto, dated as of March 16, 2007, and as amended and restated by the Amended and Restated Declaration of Trust, dated as of April 27, 2007, and by the execution and filing by Deutsche Bank Trust Company Delaware, as Trustee, and
Deutsche Bank Trust Company Americas, as Trustee, with the Secretary of State of the State of Delaware of the Certificate of Trust, filed on January 26, 2007 (the “2007 Trust”), the Trust succeeded to all rights and obligations
of the 2007 Trust pursuant to that certain Expense Agreement, dated as of April 27, 2007, between the Corporation and the 2007 Trust (the “2007 Agreement”). 
 WHEREAS, in connection with the Merger the Trust has issued its Common Securities (the “Common
Securities”) and its 6.625% Trust Preferred Securities (the “Preferred Securities”) with such powers, preferences and special rights and restrictions as are set forth in the Amended and Restated Declaration of the Trust,
dated as of June 22, 2009, as the same may be amended from time to time (the “Declaration”; capitalized terms used herein and not defined herein have the meanings ascribed to them in the Declaration) and the Debentures issued
by the Corporation have become property of the Trust; and 
 WHEREAS, the parties hereto desire to amend
and restate the 2007 Agreement in its entirety as set forth herein; 
 NOW, THEREFORE,
the 2007 Agreement is hereby amended and restated in its entirety as set forth below: 
 ARTICLE I 
 SECTION 1.1. Guarantee by the Corporation. 
 Subject to the terms and conditions hereof, the Corporation hereby irrevocably and unconditionally guarantees to each person or entity to whom the Trust is now or hereafter becomes indebted or liable (the
“Beneficiaries”) the full payment, when and as due, of any and all Obligations (as hereinafter defined) to such Beneficiaries. As used herein, “Obligations” means any costs, expenses or liabilities of the Trust,
other than obligations of the Trust to pay to holders of any Preferred Securities or other similar interests in the Trust the amounts due such holders pursuant to the terms of the Preferred Securities or such other similar interests, as the case may
be. This Agreement is intended to be for the benefit of, and to be enforceable by, all such Beneficiaries, whether or not such Beneficiaries have received notice hereof. 

 SECTION 1.2. Term of Agreement. 
 This Agreement shall terminate and be of no further force or effect upon the later of (a) the date on which full payment has been made of all
amounts payable to all holders of all the Preferred Securities (whether upon redemption, liquidation, exchange or otherwise) and (b) the date on which the Debentures shall have been distributed to the Holders of the Trust Securities as provided
in Article IX of the Declaration; provided, however, that this Agreement shall continue to be effective or shall be reinstated, as the case may be, if at any time any holder of Preferred Securities or any Beneficiary must restore payment of any sums
paid in respect of the Preferred Securities, under any Obligation, under the Guarantee Agreement dated the date hereof between the Corporation and Deutsche Bank Trust Company Americas, as guarantee trustee or under this Agreement for any reason
whatsoever. 
 SECTION 1.3. Subordination. 
 The guarantee and other liabilities and obligations of the Corporation under this Agreement shall constitute unsecured obligations of the Corporation and shall rank subordinate and junior in right of payment to all
Senior Debt (as defined in the Supplemental Indenture) of the Corporation to the extent and in the manner set forth in the Indenture with respect to the Debentures, and the provisions of Article Fourteen of the Indenture will apply, mutatis
mutandis, to the obligations of the Corporation hereunder. The obligations of the Corporation hereunder do not constitute Senior Debt (as defined in the Supplemental Indenture) of the Corporation. 
 This Agreement shall be continuing, irrevocable, unconditional and absolute. 
 SECTION 1.4. Waiver of Notice. 
 The Corporation hereby waives notice of acceptance of this Agreement and of any Obligation to which it applies or may apply, and the Corporation hereby waives presentment, demand for payment, protest, notice of nonpayment, notice of
dishonor, notice of redemption and all other notices and demands. 
 SECTION 1.5. No Impairment. 
 The obligations, covenants, agreements and duties of the Corporation under this Agreement shall in no way be affected or impaired by reason of the
happening from time to time of any of the following: 
 (a) the extension of time for the payment by the Trust of all or any portion of the
Obligations or for the performance of any other obligation under, arising out of, or in connection with, the Obligations; 
 (b) any failure,
omission, delay or lack of diligence on the part of the Beneficiaries to enforce, assert or exercise any right, privilege, power or remedy conferred on the Beneficiaries with respect to the Obligations or any action on the part of the Trust granting
indulgence or extension of any kind; or 
 (c) the voluntary or involuntary liquidation, dissolution, sale of any collateral, receivership,
insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition or readjustment of debt of, or other similar proceedings affecting, the Trust or any of the assets of the Trust. There shall be no obligation
of the Beneficiaries to give notice to, or obtain the consent of, the Corporation with respect to the happening of any of the foregoing. 
  

 C-2 

 SECTION 1.6. Enforcement. 
 A Beneficiary may enforce this Agreement directly against the Corporation and the Corporation waives any right or remedy to require that any action be
brought against the Trust or any other person or entity before proceeding against the Corporation. 
 SECTION 1.7. Subrogation. 

 The Corporation shall be subrogated to all rights (if any) of the Trust in respect of any amounts paid to the Beneficiaries by the
Corporation under this Agreement; provided, however, that the Corporation shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any rights which it may acquire by way of subrogation or any
indemnity, reimbursement or other agreement, in all cases as a result of payment under this Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Agreement. 
 ARTICLE II 
 SECTION 2.1. Assignment. 
 This Agreement may not be assigned by either party hereto without the consent of the other, and any purported assignment without such consent shall be
void; provided, however, that, upon any transfer of the Common Securities, this Agreement shall be assigned and delegated by the Corporation to its successor with such transfer without any action by either party hereto. 
 SECTION 2.2. Binding Effect. 
 This Agreement shall bind the successors, assigns, receivers, trustees and representatives of the Corporation and shall inure to the benefit of the Beneficiaries. 
 SECTION 2.3. Amendment. 
 So
long as there shall remain any Beneficiary or any Preferred Securities of any series shall be outstanding, this Agreement may not be modified or amended in any manner adverse to such Beneficiary or to the holders of the Preferred Securities without
the consent of such Beneficiary or the holders of the Preferred Securities, as the case may be. 
 SECTION 2.4. Notices.

 Any notice, request or other communication required or permitted to be given hereunder shall be given in writing by delivering the
same against receipt therefor by facsimile transmission (confirmed by mail), telex or by registered or certified mail, addressed as follows (and if so given, shall be deemed given when mailed or upon receipt of an answer-back, if sent by telex):

 Regions Financing Trust II 
 c/o Regions Financial Corporation 
 1900 Fifth Avenue North 
 Birmingham, Alabama 35203 
 Facsimile No.:
(205) 581-7629 
 Attention: General Counsel 
 Regions Financial Corporation 
 1900 Fifth Avenue North 
  

 C-3 

 Birmingham, Alabama 35203 
 Facsimile No.: (205) 581-7629 
 Attention: General Counsel 
 SECTION 2.4. Governing Law. 
 THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
  

 C-4 

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

			
	REGIONS FINANCIAL CORPORATION
		
	By:	 	 
		 	 Name:
 Title:

  

			
	REGIONS FINANCING TRUST II
		
	By:	 	 
		 	 Name:
 Title: Administrative
Trustee

  

 C-5 

 EXHIBIT D 
 [Form of Preferred Securities Certificate] 
 [IF THE PREFERRED SECURITY IS TO BE A GLOBAL PREFERRED
SECURITIES INSERT— This Preferred Security is a Global Preferred Security, New York within the meaning of the Declaration hereinafter referred to and is registered in the name of The Depository Trust Company (the “Depository”) or a
nominee of the Depository. This Preferred Security is exchangeable for Preferred Securities registered in the name of a person other than the Depository or its nominee only in the limited circumstances described in the Declaration and no transfer of
this Preferred Security (other than a transfer of this Preferred Security as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository) may be registered except
in limited circumstances. 
 Unless this Preferred Security is presented by an authorized representative of The Depository Trust Company (55
Water Street, New York) to Regions Financing Trust II or its agent for registration of transfer, exchange or payment, and any Preferred Security issued is registered in the name of Cede & Co. or such other name as is requested by an
authorized representative of The Depository Trust Company and any payment hereon is made to Cede & Co. or to such other entity as is requested by an authorized representative of The Depository Trust Company, ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
 NO EMPLOYEE BENEFIT PLAN OR OTHER PLAN OR ARRANGEMENT THAT IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE
“CODE”), OR ANY PROVISIONS OF ANY APPLICABLE FEDERAL, STATE, LOCAL OR FOREIGN LAW THAT ARE SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY AND PROHIBITED TRANSACTION PROVISIONS OF TITLE I OF ERISA AND SECTION 4975 OF THE CODE
(“SIMILAR LAWS”, AND EACH SUCH PLAN OR ARRANGEMENT, A “PLAN”), NO ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY (A “PLAN ASSET ENTITY”), AND NO
PERSON INVESTING “PLAN ASSETS” OF ANY PLAN, MAY PURCHASE OR HOLD THIS PREFERRED SECURITIES CERTIFICATE OR ANY INTEREST HEREIN, UNLESS SUCH PURCHASE OR HOLDING WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406
OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. ANY PURCHASER OR HOLDER OF THIS PREFERRED SECURITIES CERTIFICATE OR ANY INTEREST HEREIN WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING HEREOF
THAT IT EITHER (A) IS NOT A PLAN OR A PLAN ASSET ENTITY AND IS NOT PURCHASING SUCH SECURITIES ON BEHALF OF OR WITH “PLAN ASSETS” OF ANY PLAN, OR (B) SUCH PURCHASE OR HOLDING WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION
UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 
  

	 CERTIFICATE NUMBER 
	 NUMBER OF PREFERRED SECURITIES 

	 P-[            ] 
	 CUSIP NO.              

  

 D-1 

 CERTIFICATE EVIDENCING PREFERRED SECURITIES 
 OF 
 REGIONS FINANCING TRUST II 

 6.625% TRUST PREFERRED SECURITIES 
 (LIQUIDATION AMOUNT $1,000 PER PREFERRED SECURITY) 
 Regions Financing Trust II, a statutory trust
created under the laws of the State of Delaware (the “Trust”), hereby certifies that
                             (the “Holder”) is the registered owner of
(            ) preferred securities of the Trust representing an undivided preferred beneficial interest in the assets of the Trust and designated the Regions Financing Trust II 6.625%
Trust Preferred Securities (Liquidation Amount $1,000 per Preferred Security) (the “Preferred Securities”). The Preferred Securities are transferable on the books and records of the Trust, in person or by a duly authorized attorney, upon
surrender of this certificate duly endorsed and in proper form for transfer as provided in Section 5.4 of the Declaration (as defined below). The designations, rights, privileges, restrictions, preferences and other terms and provisions of the
Preferred Securities are set forth in, and this certificate and the Preferred Securities represented hereby are issued and shall in all respects be subject to the terms and provisions of, the Amended and Restated Declaration of the Trust, dated as
of                         , 2009, as the same may be amended from time to time (the “Declaration”), including the
designation of the terms of Preferred Securities as set forth therein. The Holder is entitled to the benefits of the Guarantee Agreement entered into by Regions Financial Corporation, a Delaware corporation, and Deutsche Bank Trust Company Americas,
as guarantee trustee, dated as of                         , 2009 (the “Guarantee”), to the extent provided therein. The
Trust will furnish a copy of the Declaration and the Guarantee to the Holder without charge upon written request to the Trust at its principal place of business or registered office. 
 This Preferred Securities Certificate shall be governed by and construed in accordance with the laws of the State of Delaware. 
 All capitalized terms used but not defined in this Preferred Securities Certificate are used with the meanings specified in the Declaration, including
the Exhibits thereto. 
 BY RECEIPT AND ACCEPTANCE OF THIS CERTIFICATE, THE HOLDER AGREES TO BE BOUND BY THE DECLARATION AND IS ENTITLED TO
THE BENEFITS THEREUNDER. 
 IN WITNESS WHEREOF, the undersigned Administrative Trustee of the Trust has executed this certificate as of the
     day of                         , 2009. 
  

			
	REGIONS FINANCING TRUST II
		
	By:	 	 
		 	 Name:
 Title: Administrative
Trustee

 This is one of the Preferred Securities referred to in the within-mentioned Declaration of Trust.

  

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS
		
	By:	 	 
		 	 Name:
 Title: Authorized officer

 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Preferred Security to: 
  
  
  
 (Insert assignee’s social security or tax identification number) 
 (Insert address and zip code of
assignee) 
 and irrevocably appoints                                  
                                         
                                         
                                         
                                         
             
 agent to transfer this Preferred Security on the books of the Trust.

 The agent may substitute another to act for him or her. 
 Date:                          
 Signature: 
  
  
  
 (Sign exactly as your name appears on the other
side of this Preferred Security) 
 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings
and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15.Exhibit 4.1

 Exhibit 4.1 
 GENERAL DYNAMICS CORPORATION 
 Debt Securities 
 UNDERWRITING AGREEMENT 
 June 19, 2009 
 To the Representatives named in 
 Schedule I hereto of the 
 Underwriters named in 
 Schedule II hereto 
 Ladies and Gentlemen: 
 1. Introduction. General Dynamics Corporation, a Delaware corporation (the “Company”), proposes, subject to the terms and conditions stated herein, to issue and sell to the Underwriters named in Schedule II hereto
(the “Underwriters”), for whom you are acting as representatives (the “Representatives”), the principal amount of its debt securities identified in Schedule I hereto (the “Notes”), to be
unconditionally guaranteed by the subsidiaries of the Company identified on Schedule IV hereto (collectively, the “Guarantors” and, together with the Company, the “Issuers”). The Securities will be issued pursuant
to the indenture dated as of August 27, 2001, by and among the Company, the Guarantors thereunder and The Bank of New York Mellon (formerly The Bank of New York), as trustee (the “Indenture”). The obligations of the Company
under the Indenture and the Notes will be unconditionally guaranteed (the “Guarantees” and together with the Notes, the “Securities”), on a joint and several basis, by each of the Guarantors in accordance with the
terms of the Indenture. 
 The Issuers have prepared and filed with the Securities and Exchange Commission (the
“Commission”) under the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder (collectively, the “Securities Act”) a registration statement on Form S-3 (File
No. 333-155980), including a prospectus (the “Basic Prospectus”), relating to debt securities and guarantees thereof to be issued from time to time by the Issuers. The Issuers have also filed with, or transmitted for filing to,
or shall promptly hereafter file with or transmit for filing to, the Commission a prospectus supplement specifically relating to the Securities pursuant to Rule 424 under the Securities Act (the “Prospectus Supplement”). The term
“Registration Statement” means the registration statement, as amended at the time it becomes effective, including the information, if any, deemed pursuant to Rule 430A, 430B or 430C under the Securities Act to be part of the
registration statement at the time of its effectiveness (“Rule 430 Information”). The term “Prospectus” means the Basic Prospectus as supplemented by the prospectus supplement specifically relating to 

 
the Securities in the form first used (or made available upon request of purchasers pursuant to Rule 173 under the Securities Act) in connection with
confirmation of sales of the Securities. The term “Preliminary Prospectus” means the preliminary prospectus supplement specifically relating to the Securities together with the Basic Prospectus. As used herein, the terms “Basic
Prospectus,” “Prospectus” and “Preliminary Prospectus” shall include in each case the documents, if any, incorporated by reference therein. The terms “supplement,” “amendment” and “amend” as
used herein with respect to the Registration Statement, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include any documents filed by the Company under the Securities and Exchange Act of 1934, as amended, and the rules
and regulations of the Commission thereunder (the “Exchange Act”) subsequent to the date of the Underwriting Agreement which are deemed to be incorporated by reference therein. For purposes of this Agreement, the term
“Effective Time” means the effective date of the Registration Statement with respect to the offering of Securities, as determined for the Company pursuant to Section 11 of the Securities Act and Item 512 of Regulation S-K,
as applicable. 
 At or prior to the time when sales of the Securities will be first made (the “Time of Sale”), the Company
will prepare certain information (collectively, the “Time of Sale Information”) which information will be identified in Schedule III to the Underwriting Agreement for such offering of Securities as constituting part of the Time of
Sale Information. 
 The Issuers hereby agree with the Underwriters as follows: 
 2. Representations and Warranties of the Issuers. 
 (a) The Company represents and warrants to and agrees with each of the Underwriters that: 
 (i) The Registration Statement is an “automatic shelf registration statement” as defined under Rule 405 of the Securities Act that has been filed with the Commission not earlier than three years prior to the date hereof; and no
notice of objection of the Commission to the use of such registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act has been received by the Company. No order suspending the effectiveness of
the Registration Statement has been issued by the Commission and no proceeding for that purpose or pursuant to Section 8A of the Securities Act against the Company or related to the offering has been initiated or threatened by the Commission;
as of the Effective Time, the Registration Statement complied in all material respects with the Securities Act and the Trust Indenture Act of 1939, as amended, and the rules 

  

 2 

 
and regulations of the Commission thereunder (collectively, the “Trust Indenture Act”), and did not or will not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and as of the date of the Prospectus and any amendment or supplement thereto and as of the Closing
Date, the Prospectus complied in all material respects with the Securities Act and did not and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company makes no representation and warranty with respect to (i) that part of the Registration Statement that constitutes
the Statement of Eligibility and Qualification (Form T-1) of the Trustee under the Trust Indenture Act or (ii) any statements or omissions in the Registration Statement and the Prospectus and any amendment or supplement thereto made in reliance
upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use therein. 
 (ii) The Time of Sale Information, at the Time of Sale and at the Closing Date did not and will not, contain any untrue statement of a
material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company makes no representation and warranty with
respect to any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in such Time of Sale
Information. 
 (iii) The Issuers (including their agents and representatives, other than the Underwriters in their capacity
as such) have not prepared, made, used, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any “written communication” (as defined in Rule 405 under the Securities Act) that constitutes an
offer to sell or solicitation of an offer to buy the Securities (each such communication by the Company or its agents and representatives (other than a communication referred to in clauses (i), (ii) and (iii) below) an “Issuer Free
Writing Prospectus”) other than (i) any document not constituting a prospectus pursuant to Section 

  

 3 

 
2(a)(10)(a) of the Securities Act or Rule 134 under the Securities Act, (ii) the Preliminary Prospectus, (iii) the Prospectus, (iv) the
documents, other than the Preliminary Prospectus, listed on Schedule III to the Underwriting Agreement as constituting part of the Time of Sale Information and (v) any electronic road show or other written communications, in each case approved
in writing in advance by the Representatives. Each Issuer Free Writing Prospectus complied in all material respects with the Securities Act, has been or will be (within the time period specified in Rule 433) filed in accordance with the Securities
Act (to the extent required thereby) and, when taken together with the Preliminary Prospectus accompanying, or delivered prior to delivery of, or filed prior to the first use of such Issuer Free Writing Prospectus, did not, and at the Closing Date
will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company
makes no representation and warranty with respect to any statements or omissions made in each such Issuer Free Writing Prospectus in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by
such Underwriter through the Representatives expressly for use in any Issuer Free Writing Prospectus. 
 (iv) The documents
incorporated by reference in the Registration Statement, the Prospectus and the Time of Sale Information when filed with the Commission, conformed or will conform, as the case may be, in all material respects with the requirements of the Exchange
Act, and did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading; 
 (v) The Securities have been duly authorized by the Company; the Guarantees have been duly authorized by
the applicable Guarantors; and when the Securities are delivered and paid for pursuant to this Agreement on the Closing Date (as defined below) assuming due authentication by the trustee under the Indenture, such Securities will have been duly
executed, issued and delivered by the Issuers and will conform in all material respects to the description thereof contained in the Registration Statement, the Time of Sale Information and the Prospectus and the provisions of the Indenture and will
constitute 

  

 4 

 
valid and legally binding obligations of the Issuers, in each case enforceable in accordance with their respective 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. 
 (vi) Since the date as of which information is given in the Registration Statement, the Time of Sale Information and the Prospectus,
(a) there has not been any material adverse change, or any development reasonably likely to have a material adverse change, in the condition (financial or otherwise), financial position, stockholders’ equity or results of operations of the
Company and its subsidiaries, considered as one enterprise, whether or not arising in the ordinary course of business, and (b) there have been no transactions entered into by the Company or any of its subsidiaries which, individually or in the
aggregate, are material to the Company and its subsidiaries, considered as one enterprise, other than those transactions in the ordinary course of business, except, in each case, as otherwise set forth or contemplated in the Registration Statement,
the Time of Sale Information and the Prospectus. 
 (vii) The Company has been duly incorporated and is validly existing as a
corporation in good standing under the laws of its jurisdiction of incorporation, with power and authority (corporate and other) to own its properties and conduct its business as described in the Registration Statement, the Time of Sale Information
and the Prospectus, and has been duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so as to
require such qualification, except where the failure to be so qualified is not reasonably likely to have a material adverse change in the condition (financial or otherwise), financial position, stockholders’ equity or results of operations of
the Company and its subsidiaries, considered as one enterprise. 
 (viii) Each Guarantor has been duly incorporated and is
validly existing as a corporation in good standing under the laws of its jurisdiction of incorporation, with power and authority (corporate and other) to own its properties and conduct its business as described in the Registration Statement, the
Time of Sale Information and the Prospectus, and has been duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each other jurisdiction in which it 

  

 5 

 
owns or leases properties or conducts any business so as to require such qualification, except where the failure to be so qualified is not reasonably likely
to have a material adverse change in the condition (financial or otherwise), financial position, or results of operations of the applicable Guarantor and its subsidiaries, considered as one enterprise. 
 (ix) The Company has an authorized capitalization as set forth in the Registration Statement, the Time of Sale Information and the
Prospectus, and all of the issued shares of capital stock of the Company have been duly and validly authorized and issued, are fully paid and non-assessable; and all of the issued shares of capital stock of each Guarantor have been duly and validly
authorized and issued, are fully paid and non-assessable and (except for directors’ qualifying shares) are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims. 
 (x) The execution, delivery and performance of the Indenture and this Agreement and the issuance and sale of the Securities and the
compliance by the Company with all of the provisions thereof and the consummation by the Company of the transactions contemplated herein will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a
default under, any material indenture, mortgage, deed of trust, loan agreement or other material agreement or instrument to which the Company is a party or by which the Company is bound or to which any of the property or assets of the Company is
subject, nor will such actions result in any violation of the provisions of the Certificate of Incorporation or By-laws of the Company or, to the best of its knowledge, any statute or any order, rule or regulation of any court or governmental agency
or body having jurisdiction over the Company or any of its properties; and no consent, approval, authorization, order, decree, registration or qualification of or with any such court or governmental agency or body is required for the issuance and
sale of the Securities or the consummation by the Company of the transactions contemplated by this Agreement, except such consents, approvals, authorizations, registrations or qualifications as may be required under state or foreign securities or
“blue sky” laws or as have been obtained under the Securities Act or the Trust Indenture Act in connection with the issuance and sale of the Securities by the Issuers; and each of the Issuers has full power and authority to authorize,
issue and sell the Securities as contemplated by this Agreement. 
  

 6 

 (xi) The execution, delivery and performance of the Indenture and this Agreement and the
issuance and sale of the Securities and the compliance by each of the Guarantors with all of the provisions thereof and the consummation by each of the Guarantors of the transactions contemplated herein will not conflict with or result in a breach
or violation of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which any of the Guarantors are a party or by which any of the Guarantors
are bound or to which any of the property or assets of any of the Guarantors are subject, except where such conflict, breach, violation or default is not reasonably likely to result in a material adverse change in the condition (financial or
otherwise), financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, considered as one enterprise, nor will such actions result in any violation of the provisions of the Certificate of Incorporation
or By-laws of any of the Guarantors or, to the best of the Company’s knowledge, any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Guarantors or any of their respective
properties; and no consent, approval, authorization, order, decree, registration or qualification of or with any such court or governmental agency or body is required for the issuance of any of the Guarantees or the consummation by any of the
Guarantors of the transactions contemplated by this Agreement, except such consents, approvals, authorizations, registrations or qualifications as may be required under state or foreign securities or “blue sky” laws or as have been
obtained under the Securities Act or the Trust Indenture Act in connection with the issuance of the Guarantees. 
 (xii) This
Agreement has been duly authorized, executed and delivered by each of the Issuers. 
 (xiii) The Indenture has been duly
qualified under the Trust Indenture Act and has been duly authorized, executed and delivered by each of the Issuers and is a valid and legally binding obligation of the Issuers, enforceable in accordance with its 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. 
 (xiv) None of the Issuers is (A) in violation of its Certificate of Incorporation or By-laws or (B) in default in the 

  

 7 

 
performance or observance of any obligation, agreement, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement, lease or
other agreement or instrument to which it is a party or by which it or any of its properties may be bound, where such default is reasonably likely to result in a material adverse change in the condition (financial or otherwise), financial position,
stockholders’ equity or results of operations of the Company and its subsidiaries, considered as one enterprise. 
 (xv)
Other than as set forth in the Registration Statement, the Time of Sale Information and the Prospectus, there are no legal or governmental proceedings pending to which the Company or any of its subsidiaries is a party or of which any property of the
Company or any of its subsidiaries is the subject which is reasonably likely by the Company to have, individually or in the aggregate, a material adverse change in the condition (financial or otherwise), financial position, stockholders’ equity
or results of operations of the Company and its subsidiaries, considered as one enterprise; and, to the best of the Company’s knowledge, no such proceedings are threatened or contemplated by governmental authorities or threatened by others.

 (xvi) The Company is not and, after giving effect to the offering and sale of the Securities, will not be an
“investment company,” as such term is defined in the Investment Company Act of 1940, as amended (the “Investment Company Act”). 
 (xvii) The financial statements included or incorporated by reference in the Registration Statement, the Time of Sale Information and Prospectus present fairly, in all material respects, the financial position of the
Company and its consolidated subsidiaries as of the dates shown and their results of operations and cash flows for the periods shown, and, except as otherwise disclosed in the Registration Statement, the Time of Sale Information and the Prospectus,
such financial statements have been prepared in conformity with accounting principles generally accepted in the United States; any schedules included in the Registration Statement, the Time of Sale Information and the Prospectus present fairly, in
all material respects, the information required to be stated therein. 
 (xviii) Except as disclosed in the Registration
Statement, the Time of Sale Information and the Prospectus, since the date of the latest audited financial statements included in the Registration Statement, the Time of Sale Information and the Prospectus, there 

  

 8 

 
has been no material adverse change, nor any development reasonably likely to have a material adverse change, in the condition (financial or otherwise),
financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, considered as one enterprise. 
 (xix) KPMG LLP, who has certified certain financial statements of the Company and its subsidiaries, is, to the best of the Company’s knowledge, an independent registered public accounting firm with respect to the
Company and its subsidiaries within the applicable rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board (United States) and as required by the Securities Act. 
 (xx) The Company is not an “ineligible issuer” and is a “well-known seasoned issuer”, in each case as defined under
the Securities Act, in each case at the times specified in the Securities Act in connection with the offering of the Securities. 
 (xxi) The Company and its subsidiaries maintain an effective system of “disclosure controls and procedures” (as defined in Rule 13a-15(e) of the Exchange Act) and have carried out evaluations of the effectiveness of their
disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act. 
 (xxii) The Company and its subsidiaries
maintain systems of “internal control over financial reporting” (as defined in Rule 13a-15(f) of the Exchange Act) that comply with the requirements of the Exchange Act. Except as disclosed in the Registration Statement, the Time of Sale
Information and the Prospectus, there are no material weaknesses in the Company’s internal controls. 
 (b) Each
Guarantor, severally, and not jointly, represents and warrants to and agrees with the Underwriters that: 
 (i) The
Registration Statement is an “automatic shelf registration statement” as defined under Rule 405 of the Securities Act that has been filed with the Commission not earlier than three years prior to the date hereof; and no notice of objection
of the Commission to the use of such registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act has been received by the Company. No order suspending the effectiveness of the Registration
Statement has been issued by the Commission and no proceeding for that 

  

 9 

 
purpose or pursuant to Section 8A of the Securities Act against the Company or related to the offering has been initiated or threatened by the
Commission; as of the Effective Time, the Registration Statement complied in all material respects with the Securities Act and the Trust Indenture Act, and did not or will not contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary in order to make the statements therein not misleading; and as of the date of the Prospectus and any amendment or supplement thereto and as of the Closing Date, the Prospectus did not and will
not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading;
provided that such Guarantor makes no representation and warranty with respect to (i) that part of the Registration Statement that constitutes the Statement of Eligibility and Qualification (Form T-1) of the Trustee under the Trust
Indenture Act or (ii) any statements or omissions in the Registration Statement and the Prospectus and any amendment or supplement thereto made in reliance upon and in conformity with information relating to any Underwriter furnished to the
Company in writing by such Underwriter through the Representatives expressly for use therein. 
 (ii) The Time of Sale
Information, at the Time of Sale and at the Closing Date did not and will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading; provided that the applicable Guarantor makes no representation and warranty with respect to any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter
furnished to the applicable Guarantor in writing by such Underwriter through the Representatives expressly for use in such Time of Sale Information. 
 (iii) Each Guarantor (including its agents and representatives, other than the Underwriters in their capacity as such) has not prepared, made, used, authorized, approved or referred to and will not prepare, make, use,
authorize, approve or refer to any “written communication” (as defined in Rule 405 under the Securities Act) that constitutes an offer to sell or solicitation of an offer to buy the Securities other than (i) any document not
constituting a prospectus pursuant to Section 2(a)(10)(a) of the Securities Act or Rule 134 under the Securities 

  

 10 

 
Act, (ii) the Preliminary Prospectus, (iii) the Prospectus, (iv) the documents, other than the Preliminary Prospectus, listed on Schedule III
to the Underwriting Agreement as constituting the Time of Sale Information and (v) any electronic road show or other written communications, in each case approved in writing in advance by the Representatives. Each Issuer Free Writing Prospectus
complied in all material respects with the Securities Act, has been or will be (within the time period specified in Rule 433) filed in accordance with the Securities Act (to the extent required thereby) and, when taken together with the Preliminary
Prospectus accompanying, or delivered prior to delivery of, or filed prior to the first use of such Issuer Free Writing Prospectus, did not, and at the Closing Date will not, contain any untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that such Guarantor makes no representation and warranty with respect to any statements or
omissions made in each such Issuer Free Writing Prospectus in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in any
Issuer Free Writing Prospectus. 
 (iv) The applicable Guarantee has been duly authorized by the Guarantor; and when such
Guarantee is delivered pursuant to this Agreement on the Closing Date, such Guarantee will have been duly executed, issued and delivered and will conform in all material respects to the description thereof contained in the Registration Statement,
the Time of Sale Information and the Prospectus and the provisions of the Indenture and will constitute a valid and legally binding obligation of the Guarantor, enforceable in accordance with its 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. 
 (v) The Guarantor has been duly incorporated and is validly existing as a corporation in good standing under the laws of its jurisdiction
of incorporation, with power and authority (corporate and other) to own its properties and conduct its business as described in the Registration Statement, the Time of Sale Information and the Prospectus, and has been duly qualified as a foreign
corporation for the transaction of business and is in good standing under the laws of each other jurisdiction in which it 

  

 11 

 
owns or leases properties or conducts any business so as to require such qualification, except where the failure to be so qualified is not reasonably likely
to have a material adverse change, in the condition (financial or otherwise), financial position or results of operations of the Guarantor and its subsidiaries, considered as one enterprise. 
 (vi) The execution, delivery and performance of the Indenture and this Agreement and the issuance of the applicable Guarantee and the
compliance by the Guarantor with all of the provisions thereof and the consummation by the Guarantor of the transactions contemplated herein will not conflict with or result in a breach or violation of any of the terms or provisions of, or
constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Guarantor is a party or by which the Guarantor is bound or to which any of the property or assets of the Guarantor is
subject, except where such conflict, breach, violation or default is not reasonably likely to result in a material adverse change in the condition (financial or otherwise), financial position, stockholders’ equity or results of operations of
the Company and its subsidiaries, considered as one enterprise, nor will such action result in any violation of the provisions of the Certificate of Incorporation or By-laws of the Guarantor or, to the best of its knowledge, any statute or any
order, rule or regulation of any court or governmental agency or body having jurisdiction over the Guarantor or any of its properties; and no consent, approval, authorization, order, decree, registration or qualification of or with any such court or
governmental agency or body is required for the issuance of the applicable Guarantee or the consummation by the Guarantor of the transactions contemplated by this Agreement, except such consents, approvals, authorizations, registrations or
qualifications as may be required under state or foreign securities or “blue sky” laws or as have been obtained under the Securities Act or the Trust Indenture Act in connection with the issuance and sale of the Securities by the Issuers;
and the Guarantor has full power and authority to authorize and issue the Guarantee as contemplated by this Agreement. 
 (vii) This Agreement has been duly authorized, executed and delivered by the Guarantor. 
 (viii) The Indenture has
been duly qualified under the Trust Indenture Act and has been duly authorized, executed and delivered by the Guarantor and is a valid and legally binding 

  

 12 

 
obligation of the Guarantor, enforceable in accordance with its 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. 
 (ix) The Guarantor is not an “ineligible issuer” as defined under the Securities Act at the times specified in the Securities Act in connection with the offering of the Securities. 
 3. Purchase, Sale and Delivery of Initial Securities. On the basis of the representations, warranties and agreements herein contained, but subject
to the terms and conditions herein set forth, the Company agrees to sell to the several Underwriters, and each Underwriter agrees to purchase, severally and not jointly, from the Company, the respective principal amount of Securities set forth
opposite such Underwriter’s name on Schedule II hereto at the purchase price set forth thereon, plus accrued interest, if any, from the date specified in Schedule I hereto to the date of payment and delivery, and the Guarantors agree to issue
the Guarantees with respect to the Securities. 
 The Company understands that the several Underwriters intend (i) to make a public
offering of their respective portions of the Securities and (ii) initially to offer the Securities upon the terms set forth in the Registration Statement, the Time of Sale Information and the Prospectus. 
 The Issuers will deliver, against payment of the purchase price, the Securities in the form of one or more permanent global securities in definitive form
(the “Global Securities”) deposited with the Trustee as custodian for The Depository Trust Company (“DTC”) and registered in the name of Cede & Co. as nominee for DTC. Interests in any permanent Global
Securities will be held only in book-entry form through DTC, except in the limited circumstances described in the Registration Statement, the Time of Sale Information and the Prospectus. Payment for the Securities shall be made by the Underwriters
by wire transfer in immediately available funds to an account specified by the Company on the date and at the time set forth in Schedule I hereto, or at such other time not later than five full business days thereafter as the Underwriters and the
Company may agree in writing, such time being herein referred to as the “Closing Date,” against delivery to the Trustee as custodian for DTC of the Global Securities representing all of the Securities. The Global Securities will be
made available for checking by the Representatives at such place as the Representatives and the Company agree not later than 1:00 P.M. New York City Time, on the Business Day prior to the Closing Date. 
 The Company acknowledges and agrees that the Underwriters are acting solely in the capacity of an arm’s length contractual counterparty to the
Company 

  

 13 

 
and not as a financial advisor or a fiduciary to, or an agent of, the Company or any other person, in each case, with respect to the offering of Securities
contemplated hereby (including in connection with determining the terms of the offering). Additionally, no such Underwriter is advising the Company or any other person as to any legal, tax, investment, accounting or regulatory matters in any
jurisdiction with respect to the offering of Securities contemplated hereby. The Company shall consult with its own advisors concerning such matters and shall be responsible for making its own independent investigation and appraisal of the offering
of Securities contemplated hereby, and such Underwriters shall have no responsibility or liability to the Company with respect to any information or advice received by the Company from its own advisors concerning such matters or arising out of its
own independent investigation and appraisal of the offering of Securities contemplated herby. Any review by such Underwriters named in the Underwriting Agreement of the Company, the transactions contemplated thereby or other matters relating to such
transactions will be performed solely for the benefit of the Underwriters and shall not be on behalf of the Company. 
 4. Certain
Agreements of the Issuers. The Issuers, jointly and severally, agree with each of the several Underwriters that: 
 (a)
The Issuers will (i) pay the registration fees for this offering within the time period required by Rule 456(b)(1)(i) under the Securities Act (without giving effect to the proviso therein) and in any event prior to the Closing Date and (ii) file
the Prospectus in a form approved by the Representatives pursuant to Rule 424 under the Securities Act not later than the Commission’s close of business on the second Business Day following the date of determination of the offering price of the
Securities or, if applicable, such earlier time as may be required by Rule 424(b) and Rule 430A, 430B or 430C under the Securities Act. The Company will file any Issuer Free Writing Prospectus (including the Term Sheet in the form of Schedule VII to
the Underwriting Agreement) to the extent required by Rule 433 under the Securities Act; and the Company will furnish copies of the Prospectus and each Issuer Free Writing Prospectus (to the extent not previously delivered) to the Underwriters in
New York City prior to 10:00 A.M., New York City time, on the business day next succeeding the date of this Agreement in such quantities as the Representatives may reasonably request. 
 (b) The Issuers will advise the Representatives promptly after obtaining knowledge, and, if requested by the Representatives, confirm in
writing, (i) when any amendment to the Registration Statement has been filed or becomes effective; (ii) when any supplement to the Prospectus or any amendment to the Prospectus or any Issuer Free Writing Prospectus has been filed; (iii) of any
request by the Commission for any amendment to the Registration Statement or any amendment or supplement to the 

  

 14 

 
Prospectus or the receipt of any comments from the Commission relating to the Registration Statement or any other request by the Commission for any
additional information; (iv) of the issuance by the Commission of any order suspending the effectiveness of the Registration Statement or preventing or suspending the use of any Preliminary Prospectus or the Prospectus or the initiation or
threatening of any proceeding for that purpose or pursuant to Section 8A of the Securities Act; (v) of the occurrence of any event within the Prospectus Delivery Period (as defined below in Section 4(c)) as a result of which (A) the
Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances
existing when the Prospectus is delivered to a Purchaser, not misleading, or (B) the Time of Sale Information or any Issuer Free Writing Prospectus as then amended and supplemented would include any untrue statement of a material fact or omit
to state a material necessary in order to make the statements therein, in the light of the circumstances existing when the Time of Sale Information or any Issuer Free Writing Prospectus is delivered to a Purchaser, not misleading; (vi) of the
receipt by the Company of any notice of objection of the Commission to the use of the Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act and (vii) of the receipt by the Company of any
notice with respect to any suspension of the qualification of the Securities for offer and sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and the Company will use its reasonable best efforts to prevent
the issuance of any such order suspending the effectiveness of the Registration Statement (as described in clause (iv) above), preventing or suspending the use of any Preliminary Prospectus or the Prospectus (as described in clause
(iv) above) or suspending any such qualification of the Securities (as described in clause (iv) above) and, if any such order is issued, will obtain as soon as possible the withdrawal thereof. 
 (c) The Company will deliver, without charge, to each Underwriter during the Prospectus Delivery Period (as defined below), as many copies
of the Prospectus (including all amendments and supplements thereto) and each Issuer Free Writing Prospectus (if applicable) as the Representatives may reasonably request. As used herein, the term “Prospectus Delivery Period” means
such period of time after the first date of the public offering of the Securities as in the opinion of counsel for the Underwriters a prospectus relating to the Securities is required by law to be delivered (or required to be delivered but for Rule
172 under the Securities Act) in connection with sales of the Securities by any Underwriter or dealer. 
  

 15 

 (d) Before making, preparing, using, authorizing, approving, referring to or filing any
Issuer Free Writing Prospectus during the Prospectus Delivery Period, and before filing any amendment or supplement to the Registration Statement or the Prospectus, the Company will furnish to the Representatives and counsel for the Underwriters,
within a reasonable time prior to the filing thereof with the Commission, a copy of the proposed Issuer Free Writing Prospectus, amendment or supplement for review and will not during the Prospectus Delivery Period make, prepare, use, authorize,
approve, refer to or file any such Issuer Free Writing Prospectus or file any such proposed amendment or supplement (other than any document required to be filed with the Commission under the Exchange Act and incorporated by reference into the
Registration Statement or Prospectus) to which the Representatives reasonably objects. 
 (e) If at any time prior to the
Closing Date (i) any event shall occur or condition shall exist as a result of which the Time of Sale Information as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in
order to make the statements therein, in the light of the circumstances then prevailing, not misleading or (ii) it is necessary to amend or supplement the Time of Sale Information to comply with law, the Company will promptly notify the Underwriters
thereof and forthwith prepare and, subject to paragraph (c) above, file with the Commission (to the extent required) and furnish to the Underwriters and to such dealers as the Representatives may designate, such amendments or supplements to the
Time of Sale Information as may be necessary so that the statements in the Time of Sale Information as so amended or supplemented will not, in the light of the circumstances then prevailing, be misleading or so that the Time of Sale Information will
comply with law. 
 (f) If during the Prospectus Delivery Period (i) any event shall occur or condition shall exist as a
result of which the Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein, in the light
of the circumstances existing when the Prospectus is delivered to a purchaser, not misleading or (ii) it is necessary to amend or supplement the Prospectus to comply with law, the Company will immediately notify the Underwriters thereof and
forthwith prepare and, subject to paragraph (c) above, file with the Commission and furnish to the Underwriters and to such dealers as the Representatives may designate, such amendments or supplements to the Prospectus as may be necessary so
that the statements in the Prospectus as so amended or supplemented will not, in the light of the circumstances existing when the Prospectus is delivered to a purchaser, be misleading or so that the Prospectus will comply with law. 
  

 16 

 (g) The Issuers will arrange for the qualification of the Securities for sale and the
determination of their eligibility for investment under the laws of such states in the United States as the Representatives may reasonably designate and will continue such qualifications in effect so long as reasonably required for the distribution
of the Securities by the Underwriters; provided that in connection therewith none of the Issuers will be required to qualify as a foreign corporation or to file a general consent to service of process in any such state. 
 (h) The Company will make generally available to its security holders and the Representatives an earnings statement that satisfies the
provisions of Section 11(a) of the Securities Act and Rule 158 of the Commission promulgated thereunder covering a period of at least twelve months beginning with the first fiscal quarter of the Company occurring after the “effective
date” (as defined in Rule 158) of the Registration Statement. 
 (i) During the period of two years after the Closing
Date, none of the Issuers will be or become, an open-end investment company, unit investment trust or face-amount certificate company that is or is required to be registered under Section 8 of the Investment Company Act. 
 (j) The Company will pay all expenses incidental to the performance of the Issuers’ obligations under this Agreement and the
Indenture including (i) the fees and expenses of the Trustee and its professional advisers; (ii) all expenses in connection with the execution, issue, authentication, packaging and delivery of the Securities, the preparation and printing of this
Agreement, the Securities, the Indenture, the Registration Statement, the Preliminary Prospectus, any Issuer Free Writing Prospectus, any Time of Sale Information and the Prospectus and amendments and supplements thereto, and any other document
relating to the issuance, offer, sale and delivery of the Securities; (iii) the cost of any advertising approved by the Company in connection with the issue of the Securities, (iv) any expenses (including the reasonable fees and disbursements of
counsel) incurred in connection with qualification of the Securities for sale under the laws of such jurisdictions as the Representatives designate (subject to the limitations set forth in paragraph (g) above) and the printing of memoranda
relating thereto, (v) any fees charged by investment rating agencies for the rating of the Securities, and (vi) expenses incurred in distributing the Time of Sale Information and the Prospectus (including any amendments and supplements thereto) to
the Representatives. Unless this Agreement is terminated pursuant to Section 10, the Company will reimburse the Underwriters for all travel expenses of the Underwriters and the Company’s officers and employees and any other expenses of the
Underwriters and the Company in connection with attending or hosting meetings with prospective purchasers of the Securities. 
  

 17 

 (k) In connection with the offering, until and including the Business Day following the
Closing Date, neither the Issuers nor any of their affiliates have or will, either alone or with one or more other persons, bid for or purchase for any account in which they or any of their affiliates have a beneficial interest in any Securities or
attempt to induce any person to purchase any Securities; and neither they nor any of their affiliates will make bids or purchases for the purpose of creating actual, or apparent, active trading in, or of raising the price of, the Securities.

 (l) The Company will not offer, sell, contract to sell, or otherwise dispose of, directly or indirectly, or file with the
Commission a registration statement under the Securities Act relating to, United States dollar-denominated debt securities issued or guaranteed by the Company and having a maturity of more than one year from the date of issue, other than under any
credit facility of the Company, without the prior written consent of the Representatives, which shall not be unreasonably withheld or delayed, for a period beginning at the time of execution of this Agreement and ending on the Closing Date or the
failure of the consummation of the purchase and sale of the Securities as contemplated by Section 3 hereof. 
 (m) The
Company will file all reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act during the Prospectus Delivery Period.

 (n) The Company will retain copies of each Issuer Free Writing Prospectus it has used that is not filed with the Commission
in accordance with, and to the extent provided in Rule 433 under the Securities Act. 
 5. Certain Agreements of the Underwriters.
Each Underwriter represents and agrees that: 
 (a) It has not and will not use, authorize use of, refer to, or participate in
the planning for use of, any “free writing prospectus”, as defined in Rule 405 under the Securities Act (which term includes use of any written information furnished to the Commission by the Company and not incorporated by reference into
the Registration Statement and any press release issued by the Company) other than (i) a free writing prospectus that, solely as a result of use by such Underwriter, would not trigger an obligation to file such free writing prospectus with the

  

 18 

 
Commission pursuant to Rule 433, (ii) any Issuer Free Writing Prospectus listed on Schedule III to the Underwriting Agreement or prepared pursuant to
Sections 2(a)(iii), 2(b)(iii) or Section 4(d) above (including any electronic road show), or (iii) any free writing prospectus prepared by such Underwriter and approved by the Company in advance in writing. 
 (b) Notwithstanding the foregoing the Underwriters may use a term sheet substantially in the form of Schedule VII to the Underwriting
Agreement without the consent of the Company. 
 (c) It will abide by the offering restrictions as set forth on Schedule VIII
hereto. 
 6. Conditions of the Obligations of the Underwriters. The several obligations of the Underwriters to purchase and pay for
the Securities will be subject to the performance by the Issuers of their respective obligations hereunder and to the following additional conditions precedent: 
 (a) If a post-effective amendment to the Registration Statement is required to be filed under the Securities Act, such post-effective
amendment shall have become effective, and the Representatives shall have received notice thereof, not later than 5:00 P.M., New York City time, on the date of the Underwriting Agreement; if applicable, the Rule 462(b) Registration Statement shall
have become effective by 10:00 a.m. New York City time on the business day following the date of the Underwriting Agreement; no order suspending the effectiveness of the Registration Statement shall be in effect, and no proceeding for such purpose,
pursuant to Rule 401(g)(2) or pursuant to Section 8A under the Securities Act shall be pending before or threatened by the Commission; the Prospectus and each Issuer Free Writing Prospectus shall have been timely filed with the Commission under
the Securities Act (in the case of an Issuer Free Writing Prospectus, to the extent required by Rule 433 under the Securities Act) and in accordance with Section 4(a) hereof; and all requests by the Commission for additional information shall
have been complied with to the reasonable satisfaction of the Representatives. 
 (b) The representations and warranties of
the Issuers contained herein shall be true and correct on the date hereof and on and as of the Closing Date; and the statements of the Issuers and their officers made in any certificates delivered pursuant to this Agreement shall be true and correct
on and as of the Closing Date. 
 (c) Subsequent to the earlier of (A) the Time of Sale and (B) the execution and
delivery of this Agreement, (i) no downgrading shall have occurred in the rating accorded the Securities or any other debt 

  

 19 

 
securities or preferred stock of or guaranteed by the Company or the Guarantors by any “nationally recognized statistical rating organization”, as
such term is defined by the Commission for purposes of Rule 436(g)(2) under the Securities Act and (ii) no such organization shall have publicly announced that it has under surveillance or review, or has changed its outlook with respect to, its
rating of the Securities or of any other debt securities or preferred stock of or guaranteed by the Company or the Guarantors, in each case with respect to the Company and the Guarantors, with negative implications of a possible downgrading.

 (d) No event or condition of a type described in Section 2(a)(vi)(a) hereof shall have occurred or shall exist, which
event or condition is not described in the Time of Sale Information (excluding any amendment or supplement thereto) and the Prospectus (excluding any amendment or supplement thereto) and the effect of which in the judgment of the Representatives
makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the Prospectus. 
 (e) Jenner & Block LLP, counsel for the Issuers, shall have furnished to the Representatives, at the request of the Company,
their written opinion and 10b-5 Statement, dated the Closing Date and addressed to the Underwriters, in form and substance reasonably satisfactory to the Representatives, to the effect set forth in Schedule V attached hereto. 
 (f) The Representatives shall have received an opinion, dated the Closing Date, from David A. Savner, Senior Vice President and General
Counsel of the Company, in the form of Schedule VI attached hereto. 
 (g) The Representatives shall have received on and as
of the Closing Date an opinion and 10b-5 Statement of Davis Polk & Wardwell, counsel for the Underwriters, with respect to such matters as the Representatives may reasonably request, and such counsel shall have received such documents and
information as they may reasonably request from the Company to enable them to pass upon such matters. 
 (h) No action shall
have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date, prevent the issuance or sale of the
Securities; and no injunction or order of any federal, state or foreign court shall have been issued that would, as of the Closing Date, prevent the issuance or sale of the Securities. 
  

 20 

 (i) The Representatives shall have received on and as of the Closing Date satisfactory
evidence of the good standing of the Issuers in their respective jurisdictions of organization and their good standing in such other jurisdictions as the Representatives may reasonably request, in each case in writing or any standard form of
telecommunication from the appropriate governmental authorities of such jurisdictions. 
 (j) The Representatives shall have
received on and as of the Closing Date a certificate of an executive officer of the Company (which certificate shall be executed on behalf of the Company, and not in such officer’s personal capacity) who has specific knowledge of the
Company’s financial matters and is reasonably satisfactory to the Representatives in which such officer, to the best of his or her knowledge after reasonable investigation, shall (i) confirm that such officer has carefully reviewed the
Registration Statement, the Time of Sale Information and the Prospectus and, to the best knowledge of such officer, the representations set forth in Sections 2(a)(i) and 2(a)(ii) hereof are true and correct, (ii) confirm that the other
representations and warranties of the Company in this Agreement are true and correct and that the Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Closing
Date and (iii) certify to the effect set forth in paragraphs (a) and (c) above. 
 (k) The Representatives shall
have received a certificate, dated the Closing Date, of an executive officer of each of the Guarantors (which certificate shall be executed on behalf of the Company, and not in such officer’s personal capacity) in which such officer, to the
best of his or her knowledge after reasonable investigation, shall state that the representations and warranties of such Guarantor in this Agreement are true and correct in all material respects, and that such Guarantor has, in all material
respects, complied with all agreements and satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date. 
 (l) On the date of this Agreement and on the Closing Date, KPMG LLP shall have furnished to the Representatives, at the request of the Company, letters, dated the respective dates of delivery thereof and addressed to
the Underwriters, in form and substance reasonably satisfactory to the Representatives, containing statements and information of the type customarily included in accountants’ “comfort letters” to underwriters with respect to the
financial statements and certain financial information contained or incorporated by reference in the Registration 

  

 21 

 
Statement, the Time of Sale Information and the Prospectus; provided that the letter delivered on the Closing Date shall use a “cut-off”
date no more than three business days prior to the Closing Date. 
 The Issuers will furnish the Representatives with such conformed copies
of such opinions, certificates, letters and documents as the Representatives reasonably request. The Representatives may in their sole discretion waive on behalf of the Representatives compliance with any conditions to the obligations of the
Representatives hereunder. 
 7. Indemnification. 
 (a) The Issuers agree to indemnify and hold harmless the Underwriters and each person, if any, who controls the Underwriters within the
meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act against any and all losses, liabilities, claims, damages and expenses as incurred (including but not limited to reasonable attorneys’ fees and any and
all reasonable expenses incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim, and subject to subsection (c) of this Section 7, any and all amounts paid in settlement of any claim
or litigation), to which they or any of them may become subject under the Securities Act, the Exchange Act or any other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, liabilities, claims, damages or
expenses (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, or caused by any omission or alleged omission to state therein a
material fact required to be stated therein or necessary in order to make the statements therein, not misleading, or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement
thereto), any Issuer Free Writing Prospectus or any Time of Sale Information, or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading, in each case under clause (i) or (ii) except insofar as such losses, claims, damages liabilities or expenses arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with any information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use therein. 
 (b) Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Issuers, their respective directors and
officers and each person, if any, who controls any of the Issuers within the 

  

 22 

 
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act against any and all losses, liabilities, claims, damages and expenses
as incurred (including but not limited to reasonable attorney’s fees and any and all reasonable expenses incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim, and subject to subsection
(c) of this Section 7, any and all amounts paid in settlement of any claim or litigation), to which they or any of them may become subject under the Securities Act, the Exchange Act or any other federal or state statutory law or
regulation, at common law or otherwise, insofar as such losses, liabilities, claims, damages or expenses (or action in respect thereof) arise out of or are based upon, any untrue statement or omission or alleged untrue statement or omission made in
reliance upon and in conformity with any information relating to such Underwriter furnished to the Issuers in writing by such Underwriter through the Representatives expressly for use in the Registration Statement, the Prospectus (or any amendment
or supplement thereto), any Issuer Free Writing Prospectus or any Time of Sale Information, it being understood and agreed that the only such information consists of the information identified in the Underwriting Agreement as being provided by the
Underwriters. The Issuers acknowledge that the information identified as “Underwriter Information” on Schedule I hereto constitutes the only information furnished in writing by the Underwriters or the Representatives expressly for
use in the Prospectus, or any amendment or supplement thereto, as the case may be. 
 (c) Promptly after receipt by an
indemnified party under subsection (a) or (b) above of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify each
party against whom indemnification is to be sought in writing of the commencement of such action (but the failure so to notify an indemnifying party shall not relieve it from any liability which it may have under this Section 7). In case any
such action is brought against any indemnified party, and it notifies an indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and to the extent it may elect by written notice delivered to
the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof with counsel reasonably satisfactory to such indemnified party. Notwithstanding the foregoing, the indemnified party or
parties shall have the right to employ its or their own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless (i) the employment of such counsel shall have been
authorized in writing by one of the indemnifying parties in connection with the defense of such action, (ii) the indemnifying parties shall not have 

  

 23 

 
employed counsel to have charge of the defense of such action within a reasonable time after notice of commencement of the action, or (iii) such indemnified
party or parties shall have been advised by counsel that there may be defenses available to it or them which are different from or additional to those available to one or all of the indemnifying parties (in which case the indemnifying parties shall
not have the right to direct the defense of such action on behalf of the indemnified party or parties), in any of which events such fees and expenses shall be borne by the indemnifying parties. In no event shall the indemnifying party or parties be
liable for fees and expenses of more than one counsel (in addition to any local counsel) separate from their own counsel for all indemnified parties in connection with any one action or separate but similar or related actions in the same
jurisdiction arising out of the same general allegations or circumstances. The indemnifying party shall indemnify and hold harmless the indemnified party from and against any and all losses, claims, damages, liabilities and judgments by reason of
any settlement of any action (iv) effected with its written consent or (v) effected without its written consent if (1) the settlement is entered into more than 20 business days after the indemnifying party shall have received a request from the
indemnified party for reimbursement for the fees and expenses of counsel (in any case where such fees and expenses are at the expense of the indemnifying party), (2) such indemnifying party shall have received notice of the terms of such
settlement at least 20 business days prior to such settlement being entered into and (3) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement.
Notwithstanding the immediately preceding sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel (in any case where such fees and expenses are at
the expense of the indemnifying party), an indemnifying party shall not be liable for any settlement of the nature contemplated by this Section 7(c) effected without its consent if such indemnifying party (vi) reimburses such indemnified party
in accordance with such request to the extent that it considers such request to be reasonable and (vii) provides written notice to the indemnified party substantiating the unpaid balance as unreasonable, in each case prior to the date of such
settlement. 
 8. Contribution. In order to provide for contribution in circumstances in which the indemnification provided for in
Section 7 hereof is for any reason held to be unavailable from any indemnifying party or is insufficient to hold harmless a party indemnified thereunder, the Issuers and the Underwriters shall contribute to the aggregate losses, claims,
damages, liabilities and expenses of the nature contemplated by such indemnification provision (including any reasonable investigation, legal and other expenses incurred in connection with, and, subject to the last sentence of this Section 8,
any amount paid settlement of, any action, 

  

 24 

 
suit or proceeding or any claims asserted, but after deducting in the case of losses, claims, damages, liabilities and expenses suffered by the Issuers any
contribution received by the Issuers from persons, other than the Underwriters, who may also be liable for contribution, including persons who control any of the Issuers within the meaning of Section 15 of the Securities Act or
Section 20(a) of the Exchange Act) as incurred to which the Issuers and the Underwriters may be subject, in such proportions as is appropriate to reflect the relative benefits received by the Issuers and the Underwriters from the offering of
the Securities or, if such allocation is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to above but also the relative fault of the Issuers and the Underwriters in connection
with the statements or omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Issuers and the Underwriters shall be deemed to
be in the same proportion as (x) the total proceeds from the offering (net of discounts and commissions but before deducting expenses) received by the Company and (y) the discounts and commissions received by the Underwriters,
respectively, in each case as set forth in the table on the cover page of the Prospectus. The relative fault of the Issuers and of the Underwriters shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Issuers or the Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission or any violation of the nature referred to in Section 7(a). The Issuers and the Underwriters agree that it would not be just and equitable if contribution pursuant to this Section 8 were
determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to above. Notwithstanding the provisions of this Section 8, (a) in no case shall the Underwriters be
liable or responsible for any amount in excess of the discount applicable to the Securities purchased by the Underwriters hereunder, and (b) no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. Notwithstanding the provisions of this Section 8 and the preceding sentence, the Underwriters shall not be required to contribute
any amount in excess of the amount by which the total price at which the Securities purchased by it and resold exceeds the amount of any damages that it has otherwise been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. For purposes of this Section 8, each person, if any, who controls the Underwriters within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act shall have the same rights to
contribution as the Underwriters, and each person, if any, who controls any of the Issuers within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act, shall have the same rights to contribution as the
Issuers, subject in each case to clauses (a) and (b) of this Section 8. Any party entitled to contribution will, promptly after receipt of notice 

  

 25 

 
of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against another party or
parties, notify each party or parties from whom contribution may be sought, but the omission to so notify such party or parties shall not relieve the party or parties from whom contribution may be sought from any obligation it or they may have under
this Section 8 or otherwise. No party shall be liable for contribution with respect to any action or claim settled without its written consent; provided, however, that such consent was not unreasonably withheld. 
 9. Termination. This Agreement may be terminated in the absolute discretion of the Representatives, by written notice to the Company, if after the
execution and delivery of this Agreement and prior to the Closing Date (a) trading generally shall have been suspended or materially limited on the New York Stock Exchange or the over-the-counter market; (b) trading of any securities issued or
guaranteed by the Company shall have been suspended on the New York Stock Exchange; (c) a general moratorium on commercial banking activities shall have been declared by federal or New York State authorities; (d) there shall have occurred a
material disruption in commercial banking or securities settlement or clearing services; or (e) there shall have occurred any outbreak or escalation of hostilities or any change in financial markets or any calamity or crisis, either within or
outside the United States; provided that, in the case of clauses (d) and (e) above, the occurrence of such event is, in the judgment of the Representatives, material and adverse and makes it impracticable or inadvisable to proceed
with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the Prospectus. 
 10. Defaulting Underwriter. (a) If, on the Closing Date, any Underwriter defaults on its obligation to purchase the Securities that it has agreed to purchase hereunder, the non-defaulting Underwriters may in
their discretion arrange for the purchase of such Securities by other persons satisfactory to the Company on the terms contained in this Agreement. If, within 36 hours after any such default by any Underwriter, the non-defaulting Underwriters do not
arrange for the purchase of such Securities, then the Company shall be entitled to a further period of 36 hours within which to procure other persons satisfactory to the non-defaulting Underwriters to purchase such Securities on such terms. If other
persons become obligated or agree to purchase the Securities of a defaulting Underwriter, either the non defaulting Underwriters or the Company may postpone the Closing Date for up to five full business days in order to effect any changes that in
the opinion of counsel for the Company or counsel for the Underwriters may be necessary in the Registration Statement and the Prospectus or in any other document or arrangement, and the Company agrees to promptly prepare any amendment or supplement
to the Registration Statement and the Prospectus that effects any such changes. 
  

 26 

 (b) If, after giving effect to any arrangements for the purchase of the Securities of a
defaulting Underwriter or Underwriters by the non-defaulting Underwriters and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains unpurchased does not exceed 10% of the aggregate
principal amount of all the Securities, then the Company shall have the right to require each non-defaulting Underwriter to purchase the principal amount of Securities that such Underwriter agreed to purchase hereunder plus such Underwriter’s
pro rata share (based on the principal amount of Securities that such Underwriter agreed to purchase hereunder) of the Securities of such defaulting Underwriter or Underwriters for which such arrangements have not been made. 
 (c) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Underwriter or Underwriters by the
non-defaulting Underwriters and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains unpurchased exceeds 10% of the aggregate principal amount of all the Securities, or if the Company
shall not exercise the right described in paragraph (b) above, then this Agreement shall terminate without liability on the part of the non-defaulting Underwriters. Any termination of this Agreement pursuant to this Section 10 shall be
without liability on the part of the Company, except that the Company will continue to be liable for the payment of expenses as set forth in Section 4(j) hereof and except that the provisions of Section 7 and Section 8 hereof shall
not terminate and shall remain in effect. 
 (d) Nothing contained herein shall relieve a defaulting Underwriter of any
liability it may have to the Company or any non-defaulting Underwriter for damages caused by its default. 
 (e) As used in
this Agreement, the term “Underwriter” includes, for all purposes of this Agreement unless the context otherwise requires, any person not listed in the Underwriting Agreement that, pursuant to this Section 10, purchases Securities
that a defaulting Underwriter agreed but failed to purchase. 
 11. Survival of Certain Representations and Obligations. The
respective indemnities, agreements, representations, warranties and other statements of the Issuers or their officers and of the Underwriters set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any
investigation, or statement as to the results thereof, made by or on behalf of the Underwriters, the Issuers or any of their respective representatives, officers or directors or any controlling person, and will survive delivery of and payment for
the Securities. If for any reason the purchase of the Securities by the Underwriters is not 

  

 27 

 
consummated, the Issuers shall remain responsible for their own expenses to be paid or reimbursed by it pursuant to Section 4(j) and the respective
obligations of the Issuers and the Underwriters pursuant to Sections 7 and 8 shall remain in effect. If the purchase of the Securities by the Underwriters is not consummated for any reason other than solely because of the occurrence of any event
specified in clause (a), (c), (d) or (e) of Section 9, and other than as a result of the termination of this Agreement pursuant to Section 10, the Company will reimburse the Underwriters for all out-of-pocket expenses (including
fees and disbursements of counsel) reasonably incurred by it in connection with the offering of the Securities. 
 12. Notices. All
communications hereunder will be in writing and, if sent to the Underwriters will be mailed, delivered or telegraphed and confirmed to the Representatives at the address appearing in Schedule I hereto, or, if sent to the Issuers, will be mailed,
delivered or telegraphed and confirmed to the Company at 2941 Fairview Park Drive, Suite 100, Falls Church, VA 22042-4513, Attention: General Counsel; provided, however, that any notice to the Representatives pursuant to Sections 7 and
8 will be mailed, delivered or telegraphed and confirmed to the Representatives. 
 13. Successors. This Agreement shall inure to the
benefit of and be binding upon the parties hereto and their respective successors and the controlling persons referred to in Section 7 hereof. Nothing in this Agreement is intended or shall be construed to give any other person any legal or
equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. No purchaser of Securities from any Underwriter shall be deemed to be a successor merely by reason of such purchase. 
 14. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such
counterparts shall together constitute one and the same Agreement. 
 15. Applicable Law. This Agreement shall be governed by, and
construed in accordance with, the laws of the State of New York without regard to principles of conflicts of laws. 
  

 28 

 If the foregoing is in accordance with your understanding of our agreement, kindly sign and return to the
Company one of the counterparts hereof, whereupon it will become a binding agreement among the Issuers and the Underwriters in accordance with its terms. 
  

			
	Very truly yours,
	
	GENERAL DYNAMICS CORPORATION
		
	By:	 	 /s/ David H. Fogg

	Name:	 	David H. Fogg
	Title:	 	Vice President and Treasurer
	
	 AMERICAN OVERSEAS MARINE CORPORATION

		
	By:	 	 /s/ David A. Savner

	Name:	 	David A. Savner
	Title:	 	Vice President
	
	BATH IRON WORKS CORPORATION
		
	By:	 	 /s/ David A. Savner

	Name:	 	David A. Savner
	Title:	 	Vice President
	
	ELECTRIC BOAT CORPORATION
		
	By:	 	 /s/ David A. Savner

	Name:	 	David A. Savner
	Title:	 	Vice President
	
	 GENERAL DYNAMICS ARMAMENT AND TECHNICAL PRODUCTS, INC.

		
	By:	 	 /s/ David A. Savner

	Name:	 	David A. Savner
	Title:	 	Vice President

			
	 GENERAL DYNAMICS GOVERNMENT SYSTEMS CORPORATION

		
	By:	 	 /s/ David A. Savner

	Name:	 	David A. Savner
	Title:	 	Vice President
	
	GENERAL DYNAMICS LAND SYSTEMS INC.
		
	By:	 	 /s/ David A. Savner

	Name:	 	David A. Savner
	Title:	 	Vice President
	
	 GENERAL DYNAMICS ORDNANCE AND TACTICAL SYSTEMS, INC.

		
	By:	 	 /s/ David A. Savner

	Name:	 	David A. Savner
	Title:	 	Vice President
	
	GULFSTREAM AEROSPACE CORPORATION
		
	By:	 	 /s/ David A. Savner

	Name:	 	David A. Savner
	Title:	 	Vice President
	
	 NATIONAL STEEL AND SHIPBUILDING COMPANY

		
	By:	 	 /s/ David A. Savner

	Name:	 	David A. Savner
	Title:	 	Senior Vice President

			
	The foregoing Underwriting Agreement is hereby confirmed and accepted as of the date first above written.
	
	Banc of America Securities LLC
		
	By:	 	 /s/ Jay Johnston

	Name:	 	Jay Johnston
	Title:	 	Managing Director
	
	J.P. Morgan Securities Inc.
		
	By:	 	 /s/ Stephen L. Sheiner

	Name:	 	Stephen L. Sheiner
	Title:	 	Vice President
	
	RBS Securities Inc.
		
	By:	 	 /s/ Steven B. Fitzpatrick

	Name:	 	Steve Fitzpatrick
	Title:	 	Managing Director

 SCHEDULE I 
  

			
	Representatives:	 	 Banc of America Securities LLC
 J.P. Morgan Securities
Inc.
 RBS Securities Inc.

		
	Underwriting Agreement dated:	 	June 19, 2009
		
	Registration Statement No.:	 	333-155980
		
	Title of Securities:	 	1.800% Notes due 2011
		
	Aggregate principal amount:	 	$750,000,000
		
	Indenture:	 	The Indenture dated as of August 27, 2001, by and among the Company, the Guarantors and The Bank of New York Mellon, as trustee, as supplemented by the Fifth Supplemental Indenture to be dated
as of June 24, 2009 among the Company, the Guarantors and The Bank of New York Mellon
		
	Purchase Price:	 	$745,155,000
		
	Price to Public:	 	99.554% of the principal amount of the Securities, plus accrued interest, if any, from June 24, 2009 to the Closing Date
		
	Maturity:	 	July 15, 2011
		
	Interest Rate:	 	1.800%
		
	Interest Payment Dates:	 	 January 15 and July 15 beginning
 January 15,
2010

		
	Closing Date:	 	June 24, 2009
		
	Closing Location:	 	 Davis Polk & Wardwell, 450 Lexington
 Avenue, New
York, New York 10017

		
	Address for Notices to Underwriters:	 	 Banc of America Securities LLC
 One Bryant Park
NY1-100-18-03, New
 York, New York 10036, Attention:
 High Grade
Transaction
 Management/Legal, Fax: (646) 855-5958

  

 I-1 

			
		 	 J.P. Morgan Securities Inc.
 270 Park Avenue, New York,
New
 York, Attention: Investment Grade
 Syndicate Desk; fax (212)
834-6081
  
 RBS Securities Inc.
 600 Washington Boulevard
 Stamford, CT 06901
 Fax: 203-873-4534
 Attention: Debt Capital Markets
Syndicate

		
	Underwriter Information in the Prospectus:	 	 a)      The third paragraph of text under the caption “Underwriting”
in the Preliminary Prospectus Supplement and the Prospectus Supplement concerning the terms of offering, including the concession and reallowance to certain dealers, by the Underwriters;
  
 b)      The third and fourth
sentences of the fifth paragraph of text under the caption “Underwriting” in the Preliminary Prospectus Supplement and the Prospectus Supplement relating to market making by the Underwriters; and
  
 c)      The sixth and seventh
paragraphs of text under the caption “Underwriting” in the Preliminary Prospectus Supplement and the Prospectus Supplement relating to over-allotment and stabilization by the Underwriters and penalty bids that may be imposed by the
Underwriters.

  

 I-2 

 SCHEDULE II 
  

							
	 Underwriter
	  	Purchase Price	  	Aggregate Principal
Amount of Securities
	 Banc of America Securities LLC
	  	$	126,676,350	  	$	127,500,000
	 J.P. Morgan Securities Inc.
	  	$	126,676,350	  	$	127,500,000
	 RBS Securities Inc.
	  	$	126,676,350	  	$	127,500,000
	 BBVA Securities Inc.
	  	$	52,160,850	  	$	52,500,000
	 Lloyds TSB Bank plc
	  	$	52,160,850	  	$	52,500,000
	 Wachovia Capital Markets, LLC
	  	$	52,160,850	  	$	52,500,000
	 Banca IMI S.p.A
	  	$	33,531,975	  	$	33,750,000
	 SunTrust Robinson Humphrey, Inc.
	  	$	33,531,975	  	$	33,750,000
	 The Williams Capital Group, L.P.
	  	$	29,806,200	  	$	30,000,000
	 ANZ Securities, Inc.
	  	$	18,628,875	  	$	18,750,000
	 BMO Capital Markets Corp.
	  	$	18,628,875	  	$	18,750,000
	 BNY Mellon Capital Markets, LLC
	  	$	18,628,875	  	$	18,750,000
	 Mitsubishi UFJ Securities (USA) Inc.
	  	$	18,628,875	  	$	18,750,000
	 PNC Capital Markets LLC
	  	$	18,628,875	  	$	18,750,000
	 U.S. Bancorp Investments, Inc.
	  	$	18,628,875	  	$	18,750,000
	 Total:
	  	$	745,155,000	  	$	750,000,000

  

 II-1 

 SCHEDULE III 
 Time of Sale Information 
  

	1.	Preliminary Prospectus dated June 19, 2009 

  

	2.	Pricing Term Sheet dated June 19, 2009 

  

 III-1 

 SCHEDULE IV 
 GUARANTORS 
 American Overseas Marine Corporation, a Delaware corporation 
 Bath Iron Works Corporation, a Maine corporation 
 Electric Boat
Corporation, a Delaware corporation 
 General Dynamics Armament and Technical Products, Inc., a Delaware corporation 
 General Dynamics Government Systems Corporation, a Delaware corporation 
 General Dynamics Land Systems Inc., a Delaware corporation 
 General Dynamics Ordnance and Tactical Systems, Inc., a Virginia corporation

 Gulfstream Aerospace Corporation, a Delaware corporation 
 National Steel and Shipbuilding Company, a Nevada corporation 
  

 IV-1 

 SCHEDULE V 
 OPINION OF JENNER & BLOCK LLP 
 [            
    ], 20[    ] 
 [The Representatives] 
 as representatives of the several Underwriters 
 party to the Underwriting Agreement 
 Ladies and Gentlemen: 
 We are issuing this letter in our
capacity as special counsel for General Dynamics Corporation (the “Corporation”) in response to the requirement of Section 6(e) of the Underwriting Agreement dated
[                 ], 20[    ] (the “Underwriting Agreement”) by and among the Corporation, the guarantors named therein (the
“Guarantors” and, together with the Corporation, the “Issuers”) and [the Representatives], as representatives of the several Underwriters party thereto (the “Representatives”). The Underwriting
Agreement relates to the offering (the “Offering”) of certain [Title of Debt Securities], including the guarantees of the Guarantors related thereto (the “Securities”). Every term which is defined or given a special
meaning in the Underwriting Agreement and which is not given a different meaning in this letter has the same meaning whenever it is used in this letter as the meaning it is given in the Underwriting Agreement. 
 In connection with the preparation of this letter, we have among other things read: 
 (a) the Registration Statement on Form S-3 (Registration No. 333-155980) filed by the Corporation with the Securities and Exchange Commission (the
“Commission”) for the purpose of registering the Offering under the Securities Act of 1933, as amended (the “Securities Act”) (which registration statement, as amended and including the information incorporated
therein by reference and the information deemed to be part of the registration statement at the time of effectiveness pursuant to Rule 430B under the Securities Act, and as constituted at the Effective Time, is herein called the
“Registration Statement”); 
 (b) the Prospectus of the Corporation dated December 8, 2008 (the “Basic
Prospectus”) and the Preliminary Prospectus Supplement thereto dated [                 ], 20[    ] (which Basic Prospectus and Preliminary
Prospectus Supplement, including the information incorporated therein by reference, are herein collectively called the “Preliminary Prospectus”); 
 (c) the Basic Prospectus and the Prospectus Supplement thereto dated [                 ], 20[    ] (which Basic
Prospectus and Prospectus Supplement, including the information incorporated therein by reference, are herein collectively called the “Prospectus”); 
  

 V-1 

 (d) the reports filed by the Corporation pursuant to the Exchange Act and incorporated by reference into
the Preliminary Prospectus and the Prospectus; 
 (e) the Indenture, dated as of August 27, 2001 (the “Indenture”) by
and among the Corporation, the Guarantors and The Bank of New York Mellon (formerly The Bank of New York), as trustee (the “Trustee”), and the [            ] Supplemental
Indenture thereto, dated as of [                 ], 20[    ] (the “[            ]
Supplemental Indenture”); 
 (f) an executed copy of the Underwriting Agreement; 
 (g) a specimen of the Securities; 
 (h) a
copy of the resolutions of the Board of Directors of the Corporation adopted on [                    ] 
 (i) a copy of the resolutions of the Board of Directors of each of the Guarantors adopted on
[                    ]; 
 (j) a copy of
the Restated Certificate of Incorporation of the Corporation, as amended, certified as of a recent date by the Secretary of State of Delaware; 
 (k) a copy of the Amended and Restated By-laws of the Corporation, as amended; and 
 (l) copies of all certificates and other
documents delivered today in connection with the consummation of the Offering. 
 Subject to the assumptions, qualifications and limitations
which are identified in this letter, we advise you that: 
 (i) (A) The Registration Statement is an “automatic shelf
registration statement” as defined under Rule 405 of the Securities Act that has been filed with the Commission not earlier than three years prior to the date hereof; (B) (i) to our knowledge no notice of objection of the Commission
to the use of such registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act has been received by the Company and (ii) the Indenture was qualified under the Trust Indenture Act;
(C) each of the Preliminary Prospectus and the Prospectus was filed with the Commission pursuant to Rule 424(b) under the Securities Act; and (D) to our knowledge no order suspending the effectiveness of the Registration Statement has been
issued, no notice 

  

 V-2 

 
of objection of the Commission to the use of such registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the
Securities Act has been received by the Company and no proceeding for that purpose or pursuant to Section 8A of the Securities Act against the Company or in connection with the offering has been initiated or threatened by the Commission.

 (ii) the Corporation is validly existing as a corporation in good standing under the laws of the State of Delaware, with
corporate power and authority to own its properties and conduct its business as described in the Registration Statement, the Time of Sale Information and the Prospectus; 
 (iii) (A) (1) the Indenture has been duly authorized, executed and delivered by the Issuers; (2) the Securities have been duly
authorized, executed and delivered by the Issuers; (3) the Indenture and the Securities, assuming due authentication, execution and delivery thereof by the Trustee and receipt of consideration by the Corporation therefore as contemplated by the
Underwriting Agreement, constitute valid and legally binding obligations of the Issuers 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 (regardless of whether such enforceability is considered in a proceeding in equity or at law), including, without limitation, concepts of materiality,
reasonableness, good faith and fair dealing; and (B) the Indenture and the Securities conform in all material respects to the description thereof contained in the Time of Sale Information and the Prospectus; 
 (iv) the Underwriting Agreement has been duly authorized, executed and delivered by the Issuers; 
 (v) the execution, delivery and performance of the Indenture and the Underwriting Agreement and the issuance and sale of the Securities
and the compliance by the Corporation with all of the provisions thereof and the consummation by the Corporation of the transactions contemplated therein on the Closing Date will not conflict with or result in a breach or violation of any of the
terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument set forth on Schedule A attached hereto (but no opinion is expressed as to compliance with any financial
tests or cross default provisions in any such agreement or other document), except where such conflict, breach, violation or default is not reasonably likely to have a material adverse change in the condition (financial or otherwise), financial
position, stockholders’ equity or results 

  

 V-3 

 
of operations of the Corporation and its subsidiaries, considered as one enterprise, nor will such action result in any violation of the provisions of the
Certificate of Incorporation or By-laws (each as amended) of any of the Issuers or any statute or any order, rule or regulation known to such counsel of any court or governmental agency or body having jurisdiction over the Issuers or any of their
properties (but no opinion is expressed in this paragraph as to compliance with any disclosure requirement or any prohibition against fraud or misrepresentation or as to whether performance of the indemnification or contribution provisions in the
Underwriting Agreement would be permitted); and each of the Issuers has the corporate power and authority to authorize, issue and sell the Securities as contemplated by the Underwriting Agreement; 
 (vi) the execution, delivery and performance of the Indenture and the Underwriting Agreement on the Closing Date and the issuance and sale
of the Securities and the compliance by the Guarantors with all of the provisions thereof and the consummation by the Guarantors of the transactions contemplated therein on the Closing Date will not conflict with or result in a breach or violation
of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument set forth on Schedule A attached hereto (but no opinion is expressed as to compliance with
any financial tests or cross default provisions in any such agreement or other document), except where such conflict, breach, violation or default is not reasonably likely to have a material adverse change in the condition (financial or otherwise),
financial position, stockholders’ equity or results of operations of the Corporation and its subsidiaries, considered as one enterprise; 
 (vii) no consent, approval, authorization, order, decree, registration or qualification of or with any such court or governmental agency or body is required for the issuance and sale of the Securities or the
consummation by the Issuers of the transactions contemplated by the Underwriting Agreement, except for the qualification of the Indenture under the Trust Indenture Act; 
 (viii) the statements set forth in the Basic Prospectus under the caption “Description of the Debt Securities” and the
statements set forth in the Preliminary Prospectus Supplement and the Prospectus Supplement under the caption “Description of the Notes and Guarantees” and “Certain U.S. Federal Tax Consequences,” in each case insofar as such
statements constitute summaries of the legal matters, documents or proceedings referred to therein, fairly present in all material respects the information called for with respect to such legal matters, documents and proceedings; 
  

 V-4 

 (ix) the documents incorporated by reference in the Registration Statement, the Time of
Sale Information and the Prospectus or any further amendment or supplement thereto made by the Issuers prior to the Closing Date (other than the financial statements and related notes and schedules and other financial and statistical data included
or incorporated by reference therein or omitted therefrom, as to which we express no opinion), when they became effective or were filed with the Commission, as the case may be, and as amended if such a document has been amended, appeared on their
face to be responsive in all material respects with the requirements of the Exchange Act and the rules and regulations thereunder; 
 (x) the Registration Statement, as of the Effective Time, and each Issuer Free Writing Prospectus included in the Time of Sale Information and the Prospectus, as of the date of the Prospectus Supplement and as of the date of this letter
(other than the financial statements and related notes and schedules and other financial data included or incorporated by reference therein or omitted therefrom, as to which we express no opinion), appeared on their face to be responsive in all
material respects to the requirements of Form S-3; and 
 (xi) none of the Issuers is an “investment company,” as
such term is defined in the Investment Company Act. 
 ••••••••• 
 The purpose of our professional engagement was not to establish factual matters, and the preparation of the Registration Statement, the Time of Sale
Information and the Prospectus involved many determinations of a wholly or partially nonlegal character. Except to the extent otherwise explicitly indicated in numbered paragraph (viii) above, we make no representation that we have
independently verified the accuracy, completeness or fairness of the Registration Statement, the Time of Sale Information or the Prospectus or that the actions taken in connection with the preparation of the Registration Statement, the Time of Sale
Information or the Prospectus (including the actions described in the next paragraph) were sufficient to cause the Prospectus, the Time of Sale Information or the Registration Statement to be accurate, complete or fair. We are not passing upon and
do not assume any responsibility for the accuracy, completeness or fairness of the Time of Sale Information, the Prospectus or the Registration Statement, except to the extent otherwise explicitly indicated in numbered paragraph (viii) above.

 We have participated in the preparation of the Registration Statement, the Time of Sale Information and the Prospectus. During the course
of such preparation, we examined various documents, including those listed at the beginning of our letter, and participated in various conferences with 

  

 V-5 

 
representatives and counsel of the Corporation, with representatives of the independent accountants for the Corporation and representatives of and counsel to
the Underwriters, at which conferences the contents of the Registration Statement, the Time of Sale Information and the Prospectus (and the documents incorporated therein by reference) were reviewed and discussed. 
 Based on our participation in the conferences and discussions identified above, our understanding of applicable law and the experience that we have
gained in the practice thereunder and relying as to factual matters to the extent we deem appropriate upon the representations and statements of officers and other representatives of the Corporation, we advise you that no fact came to our attention
to cause us to conclude that (i) the Registration Statement, as of the Effective Time, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements
therein not misleading, (ii) the Time of Sale Information, at the Time of Sale, contained an untrue statement of a material fact or omitted to state a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading or (iii) the Prospectus, as of its date, or as of the date of this letter, contained or contains an untrue statement of a material fact or omitted or omits to state a material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, except for, in each case, financial statements and schedules and other financial and statistical and similar data and
information included therein or incorporated by reference therein or omitted therefrom, as to which we express no opinion. 
 ••••••••• 
 Except for the activities described in the immediately preceding section
of this letter, we have not undertaken any investigation to determine the facts upon which the advice in this letter is based. 
 We have
assumed for purposes of this letter: each document we have reviewed for purposes of this letter is accurate and complete, each such document that is an original is authentic, each such document that is a copy conforms to an authentic original, and
all signatures on each such document are genuine; that the Underwriting Agreement and every other agreement we have examined for purposes of this letter constitutes a valid and binding obligation of each party to that document and that each such
party has satisfied all legal requirements that are applicable to such party to the extent necessary to entitle such party to enforce such agreement (except that we make no such assumption with respect to the Corporation or the Guarantors); and that
you have acted in good faith and without notice of any fact which has caused you to reach any conclusion contrary to any of the advice provided in this letter. We have also made other assumptions which we believe to be appropriate for purposes of
this letter. 
  

 V-6 

 In preparing this letter we have relied without independent verification upon: (i) information
contained in certificates obtained from governmental authorities; (ii) factual information represented to be true in the Underwriting Agreement, in the other documents specifically identified at the beginning of this letter as having been read
by us and in the certificates and other documents executed by the Corporation and the Guarantors and delivered to you or to the trustee under the Indenture in connection with the consummation of the Offering; (iii) numbered paragraphs 1 and 5
of the opinion of David A. Savner, Senior Vice President and General Counsel of the Corporation, with respect to the Offering; (iv) factual information provided to us by the Corporation or its representatives; and (v) factual information
we have obtained from such other sources as we have deemed reasonable. We have assumed that there has been no relevant change or development between the dates as of which the information cited in the preceding sentence was given and the date of this
letter and that the information upon which we have relied is accurate and does not omit disclosures necessary to prevent such information from being misleading. 
 We confirm that we do not have knowledge that has caused us to conclude that our reliance and assumptions cited in the two immediately preceding paragraphs are unwarranted. Whenever this letter provides advice about
(or based upon) our knowledge of any particular information or about any information which has or has not come to our attention such advice is based entirely on the conscious awareness at the time this letter is delivered on the date it bears by the
lawyers with Jenner & Block LLP at that time who have engaged in substantive representation of the Corporation in connection with (i) the Offering and (ii) the preparation and filing of reports required to be filed with the
Commission by the Corporation pursuant to the Exchange Act and incorporated by reference into the Registration Statement or the Prospectus. 
 Our advice on every legal issue addressed in this letter is based exclusively on the internal law of New York, the General Corporation Law of the State of Delaware or the federal law of the United States, and represents our opinion as to
how that issue would be resolved were it to be considered by the highest court in the jurisdiction which enacted such law. With respect to our opinions above, we have assumed, with your permission, that the laws of Maine, Nevada and Virginia are the
same as the laws of Delaware. Our opinions are limited to the specific issues addressed. None of the opinions or other advice contained in this letter considers or covers: (i) any foreign or state securities (or “blue sky”)
laws or regulations; (ii) any financial statements or supporting schedules (or any notes to any such statements or schedules) or other financial information set forth or incorporated by reference in (or omitted from) the Registration Statement,
the Time of Sale Information or the Prospectus; (iii) any rules and regulations of the Financial Institutions Regulatory Authority, Inc. relating to the compensation of Underwriters; or (iv) the rules and regulations of the New York Stock
Exchange, Inc. or any other relevant exchange. This letter 

  

 V-7 

 
does not cover any other laws, statutes, governmental rules or regulations or decisions which in our experience are not usually considered for or covered by
opinions like those contained in this letter or are not generally applicable to transactions of the kind covered by the Underwriting Agreement. 
 This letter speaks as of the time of its delivery on the date it bears. We do not assume any obligation to provide you with any subsequent opinion or advice by reason of any fact about which we did not have knowledge at that time, by reason
of any change subsequent to that time in any law, other governmental requirement or interpretation thereof covered by any of our opinions or advice, or for any other reason. 
 This letter may be relied upon by the Underwriters only for the purpose served by the provision in the Underwriting Agreement cited in the initial
paragraph of this letter in response to which it has been delivered. Without our written consent: (i) no person other than the Underwriters may rely on this letter for any purpose (except that the Trustee may rely upon paragraph (ii) of
this letter in connection with the performance of its obligations under the Indenture to the same extent as if this letter had been addressed to the Trustee); (ii) this letter may not be cited or quoted in any financial statement, prospectus,
private placement memorandum or other similar document; (iii) this letter may not be cited or quoted in any other document or communication which might encourage reliance upon this letter by any person or for any purpose excluded by the
restrictions in this paragraph; and (iv) copies of this letter may not be furnished to anyone for purposes of encouraging such reliance. 
  

 V-8 

 SCHEDULE A 
  

 A-1 

 SCHEDULE VI 
 [                 ], 20[    ] 
 [The
Representatives] 
 as representatives of the several Underwriters party 
 to the Underwriting Agreement 
 Ladies and Gentlemen: 
 I am the Senior Vice President and General Counsel of General Dynamics Corporation, a Delaware corporation (the “Company”), and I have acted as legal counsel in connection with that Underwriting
Agreement by and among the Company, the Guarantors named therein and [Name of Representatives] dated [                 ], 20[    ] (the
“Underwriting Agreement”). This opinion is being delivered pursuant to Section 6(f) of the Underwriting Agreement. Initially capitalized terms not defined herein have the meanings assigned to them in the Underwriting Agreement.

 In arriving at the opinions expressed below, I am familiar with, and either I or those under my supervision have examined the following
documents, in each case including the documents incorporated by reference therein: the Registration Statement, the Time of Sale Information and the Prospectus. 
 I have also made such investigations of law, relied as to factual matters on such other documents and instruments and reviewed information or held such conferences with officers and employees of the Company, as I have
deemed appropriate. As to any fact material to my opinion, I have (with your permission and without any investigation or independent confirmation) assumed the accuracy of such instruments, certificates and documents with respect to the facts stated
therein. In rendering the opinion that follows, I have assumed and not verified (i) the genuineness of the signatures of persons signing all documents and instruments in connection with which this opinion is rendered other than on behalf of the
Company and the Guarantors, (ii) the authority of such persons signing all documents on behalf of the parties thereto other than the Company and the Guarantors, (iii) the authenticity of all documents submitted to us as originals,
(iv) the conformity to the original documents of all documents submitted to us as copies, (v) that all documents which must be executed and delivered by parties other than the Company and the Guarantors to be effective have been duly
authorized, executed and delivered by such other parties and (vi) that the Notes have been fully paid for. 
 In clauses 1, 3 and 4
below, I have relied exclusively upon certificates or other documents from public officials as to the matters stated in such documents and certificates and such opinion is not intended to provide any conclusion or assurance beyond that conveyed by
such document or certificate. 
  

 VI-1 

 Based on the foregoing and subject to the assumptions, qualifications and limitations as may be set forth
below, it is my opinion that: 
 1. each of the Guarantors has been duly incorporated and is validly existing and in good standing under the
laws of its jurisdiction of incorporation; 
 2. all of the issued shares of capital stock of each Guarantor have been duly and validly
authorized and issued, are fully paid and non-assessable and (except for directors’ qualifying shares) are owned directly or indirectly by the Company, free and clear of all encumbrances, equities or claims; 
 3. the Company has been duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each
jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification, except where the failure to be so qualified would not result in a material adverse change in the condition (financial or otherwise),
financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, considered as one enterprise; 
 4. each of the Guarantors has been duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each jurisdiction in which it owns or leases properties or conducts any business so as to
require such qualification, except where the failure to be so qualified would not result in a material adverse change in the condition (financial or otherwise), financial position or results of operations of the applicable Guarantor; and 

5. to the best of my knowledge after reasonable investigation, neither the Company nor any Guarantor is (a) in violation of its Certificate of
Incorporation or By-laws, as amended, or (b) in default in the performance or observance of any obligation, agreement, covenant or condition contained in any material indenture, mortgage, deed of trust, loan agreement, or lease or agreement or
other material instrument to which it is a party or by which it or any of its properties may be bound, where such default is reasonably expected by the Company to have a material adverse change in the condition (financial or otherwise), financial
position, stockholders’ equity or results of operations of the Company and its subsidiaries, considered as one enterprise. 
 Although I
have not independently verified and am not passing upon and do not assume any responsibility for the accuracy, completeness or fairness of the statements contained in the Registration Statement, the Time of Sale Information and the Prospectus, no
information has come to my attention that leads me to believe that (i) the Registration Statement, as of the Effective Time, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or
necessary to make the statements therein not misleading, (ii) the 

  

 VI-2 

 
Time of Sale Information, at the Time of Sale, contained an untrue statement of a material fact or omitted to state a material fact necessary in order to
make the statements therein, in light of the circumstances under which they were made, not misleading, or (iii) the Prospectus, as of its date, or as of the date of this letter, contained or contains an untrue statement of a material fact or
omitted or omits to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, except for, in each case, financial statements and schedules and other financial
and statistical and similar data and information included therein or incorporated by reference therein or omitted therefrom, as to which I express no opinion. 
 This opinion is limited to the Delaware General Corporation Law and the federal securities laws of the United States, and I express no opinion as to the laws of any other jurisdiction. My opinions are limited to the
specific issues addressed and are limited in all respects to laws and facts existing on the date hereof. By rendering my opinions, I do not undertake to advise you of any changes in such laws, or facts that may occur after the date hereof.

 This opinion is furnished only for your benefit and may not be relied upon by any other person or entity, nor may copies be delivered or
disclosed to any other person or entity, without my prior written consent. 
  

	
	Very truly yours,
	
	David A. Savner
	Senior Vice President and General Counsel

  

 VI-3 

 SCHEDULE VII 
 General Dynamics Corporation 
 Pricing Term Sheet 
 1.800% Notes due 2011 
  

			
	Issuer:	  	General Dynamics Corporation
	Guarantors:	  	American Overseas Marine Corporation; Bath Iron Works Corporation; Electric Boat Corporation; General Dynamics Armament and Technical Products, Inc.; General Dynamics Government Systems
Corporation; General Dynamics Land Systems Inc.; General Dynamics Ordnance and Tactical Systems, Inc.; Gulfstream Aerospace Corporation; and National Steel and Shipbuilding Company
	Principal Amount:	  	$750,000,000
	Security Type:	  	Senior Unsecured Notes
	Maturity:	  	July 15, 2011
	Coupon:	  	1.800%
	Price to Public:	  	99.554%
	Yield to Maturity:	  	2.022%
	Spread to Benchmark Treasury:	  	T+80 bps
	Benchmark Treasury:	  	0.875% Notes due May 31, 2011
	Benchmark Treasury Spot and Yield:	  	99-10 3/4 / 1.222%
	Interest Payment Dates:	  	January 15 and July 15, commencing January 15, 2010
	Make-Whole Call:	  	T+12.5 bps
	Trade Date:	  	June 19, 2009
	Settlement Date:	  	June 24, 2009 (T+3)
	Denominations:	  	$2,000 x $1,000
	CUSIP / ISIN:	  	369550 AP3 / US369550AP38
	Ratings:	  	A2/A (stable/stable)
	Joint Bookrunners:	  	Banc of America Securities LLC
		  	J.P. Morgan Securities Inc.
		  	RBS Securities Inc.
	Senior Co-Managers:	  	BBVA Securities Inc.
		  	Lloyds TSB Bank plc
		  	Wachovia Capital Markets, LLC
	Co-Managers:	  	Banca IMI S.p.A.
		  	SunTrust Robinson Humphrey, Inc.
		  	The Williams Capital Group, L.P.
		  	ANZ Securities, Inc.
		  	BMO Capital Markets Corp.
		  	BNY Mellon Capital Markets, LLC
		  	Mitsubishi UFJ Securities (USA), Inc.
		  	PNC Capital Markets LLC
		  	U.S. Bancorp Investments, Inc.

 Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to
revision or withdrawal at any time. 
  

 VII-1 

 The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Banc of America
Securities LLC at 1-800-294-1322, J.P. Morgan Securities Inc. collect at 212-834-4533 or RBS Securities Inc. toll free at 1-866-884-2071. 
 This
pricing term sheet supplements the preliminary form of prospectus supplement issued by General Dynamics Corporation on June 19, 2009 relating to their Prospectus dated December 8, 2008. 
 Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically
generated as a result of this communication being sent by Bloomberg or another email system. 
  

 VII-2 

 SCHEDULE VIII 
 European Economic Area 
 In relation to each member state of the European Economic Area that has implemented the
Prospectus Directive (each, a “Relevant Member State”), each Underwriter represents and agrees with effect from and including the date on which the Prospectus Directive is implemented in that Relevant Member State, that it has not made and
will not make an offer of Securities to the public in that Relevant Member State other than: 
 (a) to any legal entity that is authorized or
regulated to operate in the financial markets or, if not so authorized or regulated, whose corporate purpose is solely to invest in securities; 
 (b) to any legal entity that has two or more of (1) an average of at least 250 employees during the last financial year; (2) a total balance sheet of more than €43,000,000 and (3) an annual net turnover of more than
€50,000,000, as shown in its last annual or consolidated accounts; 
 (c) to fewer than 100 natural or legal persons (other than
qualified investors as defined in the Prospectus Directive) subject to obtaining the prior consent of the representatives; or 
 (d) in any
other circumstances that do not require the publication of a prospectus pursuant to Article 3 of the Prospectus Directive, 
 provided that
no such offer of Securities shall require the Company or any Underwriter to publish a prospectus pursuant to Article 3 of the Prospectus Directive. 
 For purposes of this provision, the expression an “offer of securities to the public” in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the offer and the
Securities to be offered so as to enable an investor to decide to purchase or subscribe the Securities, as the expression may be varied in that Relevant Member State by any measure implementing the Prospectus Directive in that Relevant Member State,
and the expression “Prospectus Directive” means Directive 2003/71/EC and includes any relevant implementing measure in each Relevant Member State. 
  

 VIII-1 

 United Kingdom 
 Each Underwriter has represented and agreed that it and each of its affiliates: 
 (a) has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in
investment activity (within the meaning of section 21 of the Financial Services and Markets Act of 2000 (the “FSMA”) to persons who have professional experience in matters relating to investments falling within Article 19(5) of the
FSMA (Financial Promotion) Order 2005 or in circumstances in which section 21 of FSMA does not apply to the Company or the Guarantors; and 
 (b) has complied with, and will comply with, all applicable provisions of FSMA with respect to anything done by it in relation to the Securities in, from or otherwise involving the United Kingdom. 
  

 VIII-2

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