Document:

EX-10.1

 Exhibit 10.1 
  

	To:	Jones Lang LaSalle Income Property Trust, Inc. 

 200 East Randolph Drive 
 Chicago, Illinois 60601 

 

	 	Re:	Subscription Agreement for the Purchase of Undesignated Shares of Common Stock 

The undersigned, LIC II Solstice Holdings, LLC, as of the 8th day of August 2012 (the “Purchase Date”), subscribes for and agrees to purchase $50,000,000 of the
currently undesignated shares of the common stock, $0.01 par value (the “Existing Shares”), of Jones Lang LaSalle Income Property Trust, Inc. (the “Corporation”), pursuant to the terms and conditions of this
Subscription Agreement. Upon the proper filing with the Maryland State Department of Assessments and Taxation (“SDAT”) of the Second Articles of Amendment and Restatement of the Corporation (the “Second Amended and Restated
Charter”), in the form filed as Appendix A to the Definitive Proxy Statement filed with the Securities and Exchange Commission (the “SEC”) on May 29, 2012, the Existing Shares will change into Class E shares of
common stock, $0.01 par value (the “Class E Shares”, and together with the Existing Shares, the “Shares”). The Class E Shares shall subsequently convert into Class M shares of common stock, $0.01 par value (the
“Class M Shares”), pursuant to the terms of the Second Amended and Restated Charter. The Corporation is externally managed and advised by LaSalle Investment Management, Inc. (the “Advisor”), an affiliate of the
undersigned. 
 The undersigned acknowledges that the Corporation will not register the issuance of the Shares under the
Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws (the “State Acts”) in reliance upon exemptions from registration contained in the Securities Act and the State Acts, and that
the Corporation relies upon these exemptions, in part, because of the undersigned’s representations, warranties and agreements contained in this Subscription Agreement. 
 The undersigned acknowledges that, prior to executing this Subscription Agreement, it has had the opportunity to ask questions of and receive answers or obtain additional information from a representative
of the Corporation concerning the financial and other affairs of the Corporation and the terms and conditions of the offering of the Shares to which this Subscription Agreement relates, and, to the extent it believes necessary in light of its
knowledge of the Corporation’s affairs, it has asked these questions and received satisfactory answers. 
 The undersigned
represents, warrants and agrees as follows: 
 1. The undersigned hereby subscribes for $50,000,000 of Existing Shares at a
price per share equal to the net asset value (“NAV”) per share as of June 30, 2012, as will be disclosed in the Corporation’s public filings with the SEC. The undersigned hereby delivers in United States dollars the
aggregate purchase price of $50,000,000 in cash. The Corporation will issue the shares subscribed for by the undersigned on a date that is after the date on which the Corporation’s NAV per share is disclosed in its public filings with the SEC
and not more than five business days following the date of execution of this Subscription Agreement. 
 2. In the event that the
Second Amended and Restated Charter is not filed with SDAT, the undersigned’s ability to have Shares repurchased by the Corporation will be the same as provided for under those agreements and side letters between the Corporation and LaSalle
Investment Management, Inc. and LaSalle US Holdings Inc. (“LUSHI”) regarding LUSHI’s $10,000,000 investment in the Corporation. Provided that the Second Amended and Restated Charter is filed with SDAT, the undersigned shall not submit
any request for repurchase pursuant to the Corporation’s share repurchase 

  
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plan of the Class M Shares issued to it as a result of its purchase of Existing Shares on the Purchase Date (excluding any shares issued pursuant to the Corporation’s distribution
reinvestment plan) for five years after the Purchase Date. The undersigned may, at its option, request the Corporation to repurchase for cash up to 3/5th of its Class M Shares that it owns as a result of its purchase of Existing Shares on the Purchase Date (excluding
any shares issued pursuant to the Corporation’s distribution reinvestment plan) on or after the fifth anniversary of the Purchase Date. In addition, the undersigned may, at its option, request the Corporation to repurchase for cash up to an
additional 1/5th of its Class M Shares that it owns as a
result of its purchase of Existing Shares on the Purchase Date (excluding any shares issued pursuant to the Corporation’s distribution reinvestment plan) on or after the seventh anniversary of the Purchase Date. For so long as the Corporation
is externally managed and advised by the Advisor or an affiliate of Jones Lang LaSalle Incorporated, the undersigned shall not, without the prior written consent of the Corporation, submit any request for the repurchase of any Class M Shares
that it owns as a result of its purchase of Existing Shares on the Purchase Date (excluding any shares issued pursuant to the Corporation’s distribution reinvestment plan) or sell, transfer, pledge, assign or otherwise dispose of such shares to
any person or entity, other than to a subsidiary, parent company or company under common control with the undersigned, to the extent that any such repurchase, sale, transfer, assignment or disposition would cause the undersigned to be the beneficial
owner (as such term is defined in Rule 13d-3 of the Securities Exchange Act of 1934, as amended) of less than
1/5th of the Class M Shares that it owns as a result of
its purchase of Existing Shares on the Purchase Date (excluding any shares issued pursuant to the Corporation’s distribution reinvestment plan). All requests for repurchases submitted to the Corporation pursuant to this Section 2 shall be
subject to the terms of the Corporation’s share repurchase plan, as described in the Corporation’s registration statement for its continuous public offering as amended from time to time. The undersigned acknowledges that (1) the share
repurchase plan is subject to certain limitations as to the amount of shares that may be repurchased during each calendar quarter, and may be modified or suspended by the Corporation’s board of directors, and (2) the undersigned will be
treated pari passu with all other stockholders requesting repurchases pursuant to the share repurchase plan. The Corporation agrees that if the undersigned’s repurchase request pursuant to this Section 2 is not fulfilled due to the
limitations or suspension of the share repurchase plan in effect when the request is submitted, the Corporation will cause its board of directors to determine at its next regularly scheduled meeting whether to authorize the repurchase, in full or in
part, through a separate privately negotiated transaction outside of the share repurchase plan, but the Corporation shall have no obligation to authorize any such repurchase. 
 3. Notwithstanding anything to the contrary in Section 2 above, in the event that the Advisor is terminated without Cause (as such term is defined in the Advisory Agreement between the Corporation
and the Advisor, as amended from time to time), the undersigned may, at its option, require the Corporation to repurchase for cash at the then-current NAV per share any remaining Existing Shares, Class E Shares or Class M Shares issued upon
conversion of its Class E Shares; provided, however, that in the event that the Corporation does not have sufficient liquid assets available to pay the full repurchase price for such shares, the Corporation may issue to the undersigned, the Advisor
or any of their affiliates a promissory note that has a term of one-year and that bears interest at the prime rate (as published in the Wall Street Journal) plus 500 basis points. 

4. The undersigned agrees that it will not vote any of the Shares that it owns regarding (i) the removal of the Advisor, any of the
Corporation’s directors or any of their affiliates, or (ii) any transaction between the Corporation and the Advisor, and of the Corporation’s directors or any of their affiliates, including the undersigned. 

  
 2 

 5. The undersigned has carefully read this Subscription Agreement and, to the extent it
believes necessary, has discussed with its counsel the representations, warranties, and agreements that it makes by signing this Subscription Agreement and the limitations that apply to its resale of the Shares. 

6. The undersigned is purchasing the Shares for its own account, with the intention of holding the Shares for investment and with no
present intention of dividing or allowing others to participate in this investment or of reselling or otherwise participating, directly or indirectly, in a distribution of the Shares, and it will not make any sale, transfer or other disposition of
the Shares without registration under the Securities Act and the State Acts unless an exemption from registration is available under the Securities Act and the State Acts. 
 7. The undersigned is familiar with the business in which the Corporation is or will be engaged, and based upon its knowledge and experience in financial and business matters, it is familiar with the
investments of the type that it is undertaking to purchase pursuant to this Subscription Agreement; it is fully aware of the problems and risks involved in making an investment of this type; and it is capable of evaluating the merits and risks of
this investment. 
 8. The investment that the undersigned is undertaking in this Subscription Agreement corresponds with the
nature and size of its present investments and net worth, and the undersigned can financially bear the economic risk of this investment, including the ability to afford holding the Shares for an indefinite period or to afford a complete loss of its
investment. 
 9. The principal office of the undersigned is at the address shown under the signature on the signature page of
this Subscription Agreement. 
 10. The undersigned understands as follows: 

10.1 The current facts surrounding this investment do not satisfy conditions under Rule 144 under the Securities Act (“Rule
144”) that would permit the undersigned to resell the Shares under Rule 144; the nature of the Corporation’s business and the conditions under Rule 144 make it unlikely that facts will ever exist to satisfy the conditions that would
permit the undersigned to resell the Shares under Rule 144; even if satisfaction of the conditions under Rule 144 should occur, the undersigned could resell the Shares in reliance upon the provisions of Rule 144 only in limited amounts and in
accordance with the other terms and conditions of Rule 144; and in connection with any resale of the Shares by the undersigned that Rule 144 does not permit, the undersigned must comply with some other registration exemption. 

10.2 The Corporation has no obligation to register the Shares or to comply with the conditions of Rule 144 or to take any other action
necessary in order to make available any exemption for the resale of the Shares without registration. 
 10.3 The Corporation
will give stop transfer instructions to its transfer agent or the officer in charge of its stock records who will note on the Corporation’s appropriate records words to the effect that the Shares may not be transferred out of the
undersigned’s name unless the undersigned first obtains approval from the Corporation. 
 10.4 The Corporation will not
issue physical certificates for the Shares. Instead, the Shares will be recorded on the books and records of the Corporation or the Corporation’s transfer agent. The form of Notice to Stockholders of Issuance of Uncertificated Shares of Common
Stock, as mandated by Maryland General Corporation Law, is attached hereto as Exhibit A. 

  
 3 

 11. The parties hereto agree as follows: 

11.1 This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of Maryland without giving
effect to the conflict of laws provisions therein. 
 11.2 This Subscription Agreement contains the entire agreement between the
parties with respect to the subject matter hereof. The provisions of this Subscription Agreement may not be modified or waived except in a writing signed by both parties. 
 11.3 The headings of this Subscription Agreement are for convenience of reference only, and they shall not limit or otherwise effect the interpretation of any term or provision hereof. 

11.4 This Subscription Agreement and the rights, powers and duties set forth herein shall, except as set forth herein, bind and inure to
the benefit of the heirs, executors, administrators, legal representatives, successors and assigns of the parties hereto. The parties hereto may not assign any of their respective rights or interests in and under this Subscription Agreement without
the prior written consent of the other party, and any attempted assignment without such consent shall be void and without effect. 
 11.5 If any part of this Subscription Agreement is held by a court of competent jurisdiction to be unenforceable, illegal or invalid, the balance of this Subscription Agreement shall remain in effect and
unaffected by such unenforceability, illegality or invalidity. 
 [Signatures on following page.] 

  
 4 

 IN WITNESS WHEREOF, the undersigned has executed this Subscription Agreement as of the day
and year first above written. 
  

			
	LIC II Solstice Holdings, LLC
		
	By:	 	/s/Julie Manning
	Name: 	 	Julie Manning
	Title:	 	Vice President

  

	
	200 East Randolph Drive
	Principal Office: Number and Street

  

	
	Chicago            Illinois         
   60601
	City                  State
              Zip Code

  

	
	
	  
	Employer Identification Number

 ACCEPTED, as of the 8th day of August, 2012, on behalf of Jones Lang LaSalle Income Property Trust, Inc. 

 

			
	By:	 	/s/Gregory A. Falk
	Name:	 	Gregory A. Falk
	Title:	 	Chief Financial Officer

  
  

 

  
 5 

 EXHIBIT A 
 Notice to Stockholders of Issuance of Uncertificated Shares of Common Stock 

(See Attached) 

 Jones Lang LaSalle Income Property Trust, Inc., 

a Maryland corporation 
 NOTICE TO STOCKHOLDER OF ISSUANCE 
 OF UNCERTIFICATED SHARES OF COMMON
STOCK 
 Containing the Information Required by Section 2-211 of the 

Maryland General Corporation Law 
  

	To:	Stockholder 

	From:	Chief Executive Officer 

Shares of common stock, $0.01 par value per share 
 Jones Lange LaSalle Income Property Trust, Inc., a Maryland corporation (the “Corporation”), is issuing to you, subject to acceptance by the Corporation, the number of shares of its
common stock (the “Existing Shares”) set forth in your subscription agreement with the Corporation. Upon the proper filing by the Corporation of the Second Articles of Amendment and Restatement (the “Second Amended and
Restated Charter”) with the Maryland State Department of Assessments and Taxation, the Existing Shares will change in to Class E shares of common stock (the “Class E Shares”), which will subsequently convert into Class M
shares of common stock (the “Class M Shares”, and together with the Existing Shares and the Class E Shares, the “Shares”) pursuant to the terms of the Second Amended and Restated Charter. The Shares do not, and will
not, have physical certificates. Instead, the Shares are, and will be, recorded on the books and records of the Corporation or the Corporation’s transfer agent, and this notice is given to you of certain information relating to such shares. All
capitalized terms not defined herein have the meanings defined in the Corporation’s charter, as the same may be amended from time to time, a copy of which, including the restrictions on transfer and ownership, will be furnished to each holder
of shares of stock of the Corporation on request and without charge. Requests for such a copy may be directed to the Secretary of the Corporation at its principal office. 
 The Corporation has the authority to issue shares of stock of more than one class. Upon the request of any stockholder, and without charge, the Corporation will furnish a full statement of the information
required by Section 2-211 of the Maryland General Corporation Law with respect to certain restrictions on ownership and transferability, the designations and any preferences, conversion and other rights, voting powers, restrictions, limitations
as to dividends and other distributions, qualifications, and terms and conditions of redemption of the shares of each class of stock which the Corporation has authority to issue, the differences in the relative rights and preferences between the
shares of each series to the extent set, and the authority of the Board of Directors to set such rights and preferences of subsequent series. Such requests must be made to the Secretary of the Corporation at its principal office.Second Supplemental Indenture

 Exhibit 4.1 
 OLIN CORPORATION, 
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 

As Original Trustee, 
 and 
 U.S. BANK NATIONAL ASSOCIATION, 

As Separate Trustee 
 —————————————————————— 

SECOND SUPPLEMENTAL INDENTURE 
 Dated as of August 9, 2012 
 To Indenture 

dated as of August 19, 2009 
 between 
 OLIN CORPORATION 

and 
 THE BANK OF
NEW YORK MELLON TRUST COMPANY, N.A., 
 As Trustee 
 —————————————————————— 

Debt Securities 

 SECOND SUPPLEMENTAL INDENTURE (this “Second Supplemental Indenture) dated as of August
9, 2012, among OLIN CORPORATION, a corporation duly organized and existing under the laws of the Commonwealth of Virginia (the “Company”), THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association (the “Original
Trustee”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the “Separate Trustee”). 

RECITALS 

WHEREAS, the Company entered into an Indenture (the “Base Indenture”) and a Supplemental Indenture (the “First
Supplemental Indenture” and, together with the Base Indenture and this Second Supplemental Indenture, the “Indenture”) each dated as of August 19, 2009 with the Original Trustee pursuant to which the Company issued on said date
$150,000,000 aggregate principal amount of 8.875% Senior Notes due 2019 (the “2009 Notes”); 
 WHEREAS,
Section 10.01(c) of the Base Indenture permits the Company and the Original Trustee to enter into indentures supplemental thereto, without the consent of Holders, for the purpose of making such provisions in regard to matters or questions
arising under the Base Indenture as shall not adversely affect the interests of any Holders in any material respect; 

WHEREAS, the Company desires to supplement and amend the Base Indenture pursuant to Section 10.01(c) thereof, among other things,
to permit the Company to designate and appoint the Separate Trustee to serve as trustee under the Base Indenture with respect to any one or more series of Debt Securities that may be issued from time to time after the date hereof, all as further
described herein (any such series of Debt Securities in respect of which the Separate Trustee is so designated and appointed as provided for herein is referred to as a “Designated Series”); and 

WHEREAS, all conditions necessary to authorize the execution and delivery of this Second Supplemental Indenture and to make it a valid
and binding obligation of the parties hereto have been done or performed. 
 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, the parties hereto hereby agree as follows: 
 ARTICLE I 
 DEFINED TERMS 

SECTION 101. Definitions. For the purpose of this Second Supplemental Indenture, all capitalized terms used herein, unless
otherwise defined herein, shall have the meaning assigned to them in the Base Indenture. 

 SECTION 102. Separate Trustee. Section 1.01 (Certain Terms Defined) of
the Base Indenture is hereby amended by adding the following definition in appropriate alphabetical order: 
 “Separate
Trustee: The term “Separate Trustee” shall mean U.S. Bank National Association, and, subject to the provisions of Article Seven, shall also include its successors and assigns.” 

SECTION 103. Corporate Trust Office of the Trustee. The definition of “Corporate Trust Office of the Trustee”
set forth in Section 1.01 (Certain Terms Defined) of the Base Indenture is hereby amended and restated in its entirety as follows: 
 “Corporate Trust Office of the Trustee: The term “corporate trust office of the Trustee,” or other similar term, shall mean (i) with respect to any series of Debt Securities
other than any Designated Series, the office of the Trustee, at which at any particular time its corporate trust business and this Indenture shall be administered, which at the date of this Indenture is Global Corporate Trust, 2 North LaSalle
Street, Suite 1020, Chicago, Illinois 60602, and for purposes of Section 4.02 is also located c/o The Bank of New York Mellon, 101 Barclay Street, New York, New York 10286 and (ii) with respect to any Designated Series, the office of the
Separate Trustee, at which at any particular time its corporate trust business and this Indenture shall be administered, which at the date of this Indenture is Global Corporate Trust Services, One U.S. Bank Plaza, Mail Code: SL-MO-T3CT, St. Louis,
MO 63101, and for purposes of Section 4.02 is also located c/o U.S. Bank, 100 Wall Street, New York, New York 10005, Attention Corporate Trust Services, or, in the case of any of such offices or agencies referred to in clauses (i) or (ii),
such other address as the Trustee or the Separate Trustee may designate from time to time by notice to the Company, or the principal corporate trust office of any successor Trustee or Separate Trustee (or such other address as a successor Trustee or
Separate Trustee may designate from time to time by notice to the Company).” 
 SECTION 104. Designated Series.
Section 1.01 (Certain Terms Defined) of the Base Indenture is hereby amended by adding the following definition in appropriate alphabetical order: 
 “Designated Series: The term “Designated Series” shall mean any series of Debt Securities in respect of which the Separate Trustee is designated and appointed to serve as Trustee
hereunder in the Officers’ Certificate or indenture supplemental hereto providing for the establishment of said series of Debt Securities.” 
 SECTION 105. Trustee. The definition of “Trustee” contained in Section 1.01 (Certain Terms Defined) of the Base Indenture is hereby amended and restated in its entirety as
follows: 
 “Trustee: The term “Trustee” shall mean (i) with respect to any series of Debt
Securities other than any Designated Series, The Bank of New York Mellon Trust Company, N.A., and, 

 
subject to the provisions of Article Seven, shall also include its successors and assigns, and (ii) with respect to any Designated Series, the Separate Trustee.” 

ARTICLE II 

THE SEPARATE TRUSTEE 
 SECTION 201. Appointment of the Separate Trustee. The Company hereby appoints the Separate Trustee to serve as Trustee under the Indenture with respect to, and only with respect to, any series of
Debt Securities in respect of which the Separate Trustee is designated and appointed to serve as Trustee in the Officers’ Certificate or supplemental indenture providing for the establishment of said series of Debt Securities. The Separate
Trustee hereby accepts, and the Original Trustee hereby agrees to, any such appointment and designation. Without further act, deed or conveyance, all the rights, powers, trusts, obligations and duties of the Trustee under the Base Indenture shall
apply to, be vested in, inure to the benefit of and otherwise obligate, as the case may be, the Separate Trustee with respect to, and only with respect to, any Designated Series with like effect in each case as if originally named as Trustee with
respect thereto in the Base Indenture. Nothing in this Second Supplemental Indenture shall be construed to amend in any respect the rights, powers, trusts, obligations and duties of the Original Trustee under the Base Indenture and the First
Supplemental Indenture with respect to the 2009 Notes or any other series of Debt Securities that is not a Designated Series, and all the rights, powers, trusts, obligations and duties of the Trustee under the Base Indenture and the First
Supplemental Indenture with respect to the 2009 Notes and any such other series of Debt Securities shall apply to, be vested in, inure to the benefit of and otherwise obligate, as the case may be, the Original Trustee without prejudice, diminution
or limitation of any kind. The Original Trustee shall have no rights, powers, trusts, obligations or duties with respect to any Designated Series, and the Separate Trustee shall have no rights, powers, trusts, obligations or duties with respect to
the 2009 Notes or any other series of Debt Securities that is not a Designated Series. 
 SECTION 202. Further
Assurances. The Original Trustee and the Separate Trustee hereby agree, at the reasonable request of the Company with respect to the specific action to be taken, to cooperate in good faith to further the intent and purpose of each of the
provisions of the Base Indenture (as amended and supplemented hereby) to the fullest extent permitted by applicable law. Without limiting the generality of the foregoing, from and after the date hereof the Company, the Original Trustee, at the
reasonable request of the Company with respect to the specific action to be taken, and the Separate Trustee shall take, or cause to be taken, all reasonable actions, and do, or cause to be done, and assist and cooperate with any other party in
doing, all things reasonably necessary, proper or advisable to effect the intent and purpose of this Second Supplemental Indenture and to otherwise provide for or facilitate the administration of the trusts under the Base Indenture and the
indentures supplemental thereto by more than one trustee (but only one trustee with respect to each series). 
 SECTION 203.
Eligibility of the Separate Trustee. The Separate Trustee hereby represents that it is qualified and eligible under the provisions of the Trust Indenture Act and 

 
Section 7.09 of the Base Indenture to accept an appointment and designation as Trustee with respect to any Designated Series. 

SECTION 204. Security Registrar and Paying Agent. The Company hereby appoints and designates the Separate Trustee as
“Registrar” and “paying agent” with respect to any Designated Series and as the agency of the Company in the Borough of Manhattan, the City and State of New York, where notices and demands to or upon the Company in respect of the
Debt Securities of any Designated Series or of the Indenture (to the extent relating to such Debt Securities) may be served, and the Separate Trustee accepts such appointment and designation. Unless and until otherwise determined by the Company by
resolution of its Board of Directors, the register of the Company for purpose of registration, exchange or registration of transfer of the Debt Securities of any Designated Series shall be kept at the Corporate Trust Office of the Separate Trustee.

 SECTION 205. Concerning the Trustees. In carrying out any of its responsibilities under the Base Indenture, the
Separate Trustee shall have all of the rights, powers, privileges, protections, duties, immunities and obligations applicable to the Trustee under the Base Indenture with respect to, and only with respect to, any Designated Series. The Original
Trustee and the Separate Trustee shall not constitute co-trustees of the same trust, and each of the Original Trustee and the Separate Trustee shall be trustee of a trust or trusts under the Base Indenture and indentures supplemental thereto
separate and apart from any trust or trusts administered thereunder by the other trustee. Nothing in this Second Supplemental Indenture shall be construed to create or impose (i) any liability on the Original Trustee for any acts or omissions
of the Separate Trustee or (ii) any liability on the Separate Trustee for any acts or omissions of the Original Trustee. Matters arising under the Base Indenture and indentures supplemental thereto that purport to require or permit action by
the Original Trustee with respect to any Designated Series shall be deemed to require or permit action only by the Separate Trustee, and the Original Trustee shall have no responsibility therefor (except to the extent, if any, that any such matter
requires action of multiple trustees or necessarily pertains to multiple series of Debt Securities, in which case the provisions of Section 202 hereof shall apply). For avoidance of doubt, references in any supplemental indenture or
Officers’ Certificate providing for the establishment of the Debt Securities of a Designated Series to sections of the Base Indenture that would otherwise purport to require or permit actions by the Original Trustee with respect to Debt
Securities of such Designated Series shall be deemed to require or permit actions only by the Separate Trustee and the Original Trustee shall have no responsibility therefor. Matters arising under the Base Indenture and indentures supplemental
thereto that purport to require or permit action by the Separate Trustee with respect to any Debt Securities other than those of a Designated Series shall be deemed to require or permit action only by the Original Trustee, and the Separate Trustee
shall have no responsibility therefor (except to the extent, if any, that any such matter requires action of multiple trustees or necessarily pertains to multiple series of Debt Securities, in which case the provisions of Section 202 hereof
shall apply). For avoidance of doubt, references in any supplemental indenture or Officers’ Certificate providing for the establishment of Debt Securities other than those of a Designated Series to sections of the Base Indenture that would
otherwise purport to require or permit actions by the Separate Trustee with respect to such Debt Securities shall be deemed to require or permit actions only by the Original Trustee and the Separate Trustee shall have no responsibility therefor.

 ARTICLE III 
 MISCELLANEOUS PROVISIONS 
 SECTION 301. Ratification and Incorporation
of Base Indenture. The Base Indenture (as amended and supplemented hereby) and the First Supplemental Indenture are in all respects ratified and confirmed, and from and after the date hereof references to the Base Indenture shall be read, taken
and construed as references to the Base Indenture as amended and supplemented hereby. Notwithstanding anything to the contrary, none of the provisions of this Second Supplemental Indenture are intended to be adverse to the interests of the holders
of the 2009 Notes in any material respect, and this Second Supplemental Indenture shall be construed and enforced to give effect to said intent. 
 SECTION 302. Governing Law. This Second Supplemental Indenture shall be deemed to be a New York contract, and for all purposes shall be construed in accordance with the laws of said State.

 SECTION 303. Executed in Counterparts. This Second Supplemental Indenture may be executed in several counterparts,
each of which shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Second Supplemental Indenture and of signature pages by facsimile or electronic
format (i.e., “pdf” or “tif”) transmission shall constitute effective execution and delivery of this Second Supplemental Indenture as to the parties hereto and may be used in lieu of the original Second Supplemental
Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format (i.e., “pdf” or “tif”) shall be deemed to be their original signatures for all purposes. 

SECTION 304. No Recitals, etc. Neither the Original Trustee nor the Separate Trustee shall be responsible in any manner
whatsoever for or in respect of the recitals contained herein, all of which are made solely by the Company. Neither the Original Trustee nor the Separate Trustee makes any representations as to the validity or sufficiency of this Second Supplemental
Indenture, except, in the case of the Separate Trustee with respect to the statements contained in Section 203. 

[Remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name
and on its behalf by a duly authorized officer, all as of the day and year first above written. 
  

					
	OLIN CORPORATION,
	 as Issuer

		
	By:	 	/s/ Stephen C. Curley
		 	Name: 	 	Stephen C. Curley
		 	Title:	 	Vice President and Treasurer
		
	By:	 	/s/ Todd A. Slater
		 	Name:	 	Todd A. Slater
		 	Title:	 	Vice President, Finance and Controller
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
	 as Original Trustee

		
	By:	 	/s/ Linda Garcia
		 	Name:	 	Linda Garcia
		 	Title:	 	Vice President
	
	U.S. BANK NATIONAL ASSOCIATION,
	 as Separate Trustee

		
	By:	 	/s/ Rebekah A. Foltz
		 	Name:	 	Rebekah A. Foltz
		 	Title:	 	Vice President

 [Signature Page to Second Supplemental Indenture]

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