Document:

EX-10.1

 Exhibit 10.1 

SECOND AMENDMENT 
 TO

 LOAN AND SECURITY AGREEMENT 

THIS SECOND AMENDMENT to Loan and Security Agreement (this “Amendment”) is entered into as of June 18, 2020 (the
“Second Amendment Date”), by and among CATHAY BANK (“Bank”) and TAIWAN LIPOSOME COMPANY, LTD., a Taiwan registered company (“Parent”), and TLC BIOPHARMACEUTICALS, INC., a Delaware corporation (“TLC,” and
together with Parent, each a “Borrower” and collectively, “Borrowers”). 
 RECITALS 

A. Bank and Borrowers have entered into that certain Loan and Security Agreement dated as of December 27, 2018 (as the same may
from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”). 
 B. Bank has extended
credit to Borrowers for the purposes permitted in the Loan Agreement. 
 C. Borrowers have requested that Bank amend the Loan
Agreement to extend the maturity date, increase amounts available to be borrowed, and modify certain covenants, as more fully set forth herein. 

D. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject
to the conditions and in reliance upon the representations and warranties set forth below. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the
receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 1.
Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement. 

2. Amendments to Loan Agreement. As of the date hereof, certain sections of the Loan Agreement are hereby amended as set forth on
Exhibit A hereto. Any language being inserted into the applicable section of the Loan Agreement is evidenced by bold and underline formatting. Any language being deleted from the applicable section of the Loan Agreement is evidenced by
strike-through formatting. The Loan Agreement, as amended by this Amendment, is set forth on Exhibit B hereto. 
 3. Continuing
Validity. Except as expressly modified pursuant to this Amendment, the terms of the Loan Agreement remain unchanged and in full force and effect. The Loan Agreement, as amended hereby, and the other Loan Documents shall be and remain in full
force and effect in accordance with its terms as to each Borrower. Bank’s agreement to modifications to the Loan Agreement pursuant to this Amendment in no way shall obligate Bank to make any future modifications to the Loan Agreement. Except
as otherwise provided, nothing in this Amendment shall constitute a satisfaction of the Obligations. It is the intention of Bank and Borrowers to retain as liable parties all makers and endorsers of the Loan Documents, unless the party is expressly
released by Bank in writing. No maker, endorser, or guarantor will be released by virtue of this Amendment. Bank shall return the original of the Taiwan Promissory Note dated December 27, 2018, in the amount of $12,000,000 to Parent within
three (3) Business Days after all of the Obligations existing as of the Second Amendment Date have been fully repaid and performed. 

  
 1 

 4. Limitation of Amendment. 

4.1 The amendments described in Section 2, above, and reflected in Exhibit A hereto, are effective for the
purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any
right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document. 
 4.2 This Amendment
shall be construed in connection with and as part of the Loan Documents, and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed
and shall remain in full force and effect. 
 5. Representations and Warranties. To induce Bank to enter into this Amendment,
Borrowers hereby represent and warrant to Bank as follows: 
 5.1 Immediately after giving effect to this Amendment (a) the
representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are
true and correct as of such date), and (b) no Event of Default has occurred and is continuing; 
 5.2 Borrowers have the power
and authority to execute and deliver this Amendment and to perform their obligations under the Loan Agreement, as amended by this Amendment; 

5.3 The Operating Documents of TLC and Parent delivered to Bank on the Closing Date remain true, accurate and complete and have not been
amended, supplemented or restated and are and continue to be in full force and effect; 
 5.4 The execution and delivery by Borrowers
of this Amendment and the performance by Borrowers of their obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized; 

5.5 The execution and delivery by Borrowers of this Amendment and the performance by Borrowers of their obligations under the Loan
Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrowers, (b) any contractual restriction with a Person binding on Borrowers, (c) any order, judgment or decree
of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrowers, or (d) the Operating Documents of Borrowers; 

5.6 The execution and delivery by Borrowers of this Amendment and the performance by Borrowers of their obligations under the Loan
Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on either Borrower, except as already has been obtained or made; and 

  
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 5.7 This Amendment has been duly executed and delivered by Borrowers and is the
binding obligation of each Borrower, enforceable against each Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general
application and equitable principles relating to or affecting creditors’ rights. 
 6. Integration. This Amendment and the
Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter
of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents. 
 7. Loan Document. This Amendment
shall constitute a Loan Document under the Loan Agreement. 
 8. Governing Law. This Amendment and the rights and obligations
of the parties hereto shall be governed by and construed in accordance with the laws of the State of California. 
 9.
Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment
by facsimile or in electronic (i.e., “pdf” or “tif” format) shall be effective as delivery of a manually executed counterpart of this Amendment. 

10. Effectiveness. This Amendment shall be deemed effective upon Bank’s receipt of the following, in form and substance
satisfactory to Bank: 
 (a) the due execution and delivery to Bank of this Amendment by Borrowers; 

(b) the Promissory Note in the amount of $12,000,000, duly executed by Borrowers; 

(c) a Taiwan Promissory Note in the amount of $12,000,000 and Taiwan Promissory Note Authorization, each duly executed by Borrowers;

 (d) a completed, duly executed Corporate Borrowing Certificate of each Borrower; 

(e) a legal opinion of Borrowers’ counsel dated as of the Second Amendment Date together with the duly executed original signature
thereto; and 
 (f) Borrowers’ payment of the facility fee and Bank Expenses due and owing in connection with this Amendment.

 [Signature page follows.] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto
have caused this Second Amendment to be duly executed and delivered as of the date first written above. 
  

									
	BORROWERS	  		  		 	
			
	TAIWAN LIPOSOME COMPANY, LTD.	  	            	  	TLC BIOPHARMACEUTICALS, INC.
					
	By:	 	 /s/ Keelung Hong
	  	            	  	By:	 	 /s/ Keelung Hong

	Name: Keelung Hong	  	            	  	Name: Keelung Hong
	Title: Chairman	  	            	  	Title: Chief Executive Officer
				
	BANK	  		  		 	
				
	CATHAY BANK	  		  		 	
					
	By:	 	 /s/ Yu-Fu Lin
	  		  		 	
	Name: Yu-Fu Lin	  		  		 	
	Title: Relationship Manager & First Vice President	 	

 Exhibit B 

LOAN AND SECURITY AGREEMENT 

This LOAN AND SECURITY AGREEMENT (this “Agreement”) is entered into as of December 27, 2018, by and between
CATHAY BANK (“Bank”) and TAIWAN LIPOSOME COMPANY, LTD., a Taiwan registered company (“Parent”), and TLC BIOPHARMACEUTICALS, INC., a Delaware corporation (“TLC,” and together with Parent, each a
“Borrower” and collectively, “Borrowers”). 
 RECITALS 

Borrowers wish to obtain credit from time to time from Bank, and Bank desires to extend credit to Borrowers. This Agreement sets forth the
terms on which Bank will advance credit to Borrowers, and Borrowers will repay the amounts owing to Bank. 
 AGREEMENT 

The parties agree as follows: 
  

	 	1.	 DEFINITIONS AND CONSTRUCTION 

As used in this Agreement, all capitalized terms shall have the following definitions. Any term used in the Code and not defined herein shall have the meaning
given to the term in the Code. Any accounting term not specifically defined in this Section shall be construed in accordance with IFRS or TIFRS, as applicable, and all calculations shall be made in accordance with IFRS or TIFRS, as applicable. The
term “financial statements” shall include the accompanying notes and schedules. 
 “Accounts” means all presently existing and
hereafter arising accounts, contract rights, payment intangibles and all other forms of obligations owing to a Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other technology) or the
rendering of services by a Borrower and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by a Borrower and such Borrower’s Books relating to any of the foregoing. 

“Adjusted Tangible Net Worth” means at any date as of which the amount thereof shall be determined, the difference between the value of the
capital stock, partnership interests, or limited liability company interests of Borrowers and their respective Subsidiaries minus intangible assets, determined in accordance with IFRS or TIFRS, as applicable, plus Deferred Revenue.

 “Advance” or “Advances” means a cash advance or cash advances under Section 2.1. 

“Affiliate” means, with respect to any Person, any Person that owns or controls directly or indirectly such Person, any Person that controls
or is controlled by or is under common control with such Person, and each of such Person’s senior executive officers, directors, and partners. 

“Availability End Date” means June 30, 2021. 

“Bank Expenses” means all reasonable, documented,
out-of-pocket costs or expenses (including reasonable attorneys’ fees and expenses) incurred in connection with the preparation, negotiation, administration, and
enforcement of the Loan Documents, performing the inspections described in Section 4.3, and amending, enforcing or defending the Loan Documents (including fees and expenses of appeal), incurred before, during and after an Insolvency Proceeding,
whether or not suit is brought. 
 “Books” means all of any Borrower’s books and records including: ledgers; records concerning any
Borrower’s assets or liabilities, the Collateral, business operations or financial condition; and all computer programs, or tape files, and the equipment, containing such information. 

“Business Day” means any day that is not a Saturday, Sunday, or other day on which banks in the State of California or Taiwan are authorized
or required to close. 

  
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 “Cash” means unrestricted cash and cash equivalents. 

“Change in Control” means a transaction in which (i) TLC ceases to be a 100% Subsidiary of Parent or (ii) any “person” or
“group” (within the meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange
Act of 1934), directly or indirectly, of a sufficient number of shares of all classes of stock then outstanding of Borrower ordinarily entitled to vote in the election of directors, empowering such “person” or “group” to elect a
majority of the Board of Directors of Borrower, who did not have such power before such transaction. 
 “Closing Date” means the date of
this Agreement. 
 “Code” means the California Uniform Commercial Code as amended or supplemented from time to time. 

“Collateral” means the property described on Exhibit A. 

“Compliance Certificate” means a Compliance Certificate in the form of Exhibit D. 

“Contingent Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with
respect to (i) any indebtedness, lease, dividend, letter of credit or other obligation of another, including, without limitation, any such obligation directly or indirectly guaranteed, endorsed, co-made
or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant services
issued for the account of that Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designated to
protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for collection or deposit in the ordinary course
of business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the
maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support
arrangement. 
 “Copyrights” means any and all copyright rights, copyright applications, copyright registrations and like protections in
each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret, now or hereafter existing, created, acquired or held. 

“Credit Extension” means each Advance or any other extension of credit by Bank to or for the benefit of Borrower hereunder. 

“Current Liabilities” means, as of any applicable date, all amounts that should, in accordance with IFRS or TIFRS, as applicable, be included
as current liabilities on the consolidated balance sheet of Borrowers, as at such date. 
 “Deferred Revenue” is all amounts received or
invoiced by Borrowers in advance of performance under contracts and not yet recognized as revenue. 
 “Environmental Laws” means all laws,
rules, regulations, orders and the like issued by any federal state, local foreign or other governmental or quasi-governmental authority or any agency pertaining to the environment or to any hazardous materials or wastes, toxic substances,
flammable, explosive or radioactive materials, asbestos or other similar materials. 
 “Equipment” means all present and future machinery,
equipment, tenant improvements, furniture, fixtures, vehicles, tools, parts and attachments in which Borrower has any interest. 
 “ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder. 

  
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 “Event of Default” has the meaning assigned in Article 8. 

“Funding Date” means the Business Day on which an Advance is made to or on account of a Borrower. 

“IFRS” means the International Financial Reporting Standards, a collection of guidelines and rules set by the International Accounting
Standards Board (www.iasb.org) that are applicable to the circumstances as of the date of determination. 
 “Indebtedness” means
(a) all indebtedness for borrowed money or the deferred purchase price of property or services, including without limitation reimbursement and other obligations with respect to surety bonds and letters of credit, (b) all obligations
evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations, and (d) all Contingent Obligations. 

“Insolvency Proceeding” means any proceeding commenced by or against any Person or entity under any provision of the United States
Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, including assignments for the benefit of creditors, formal or informal moratoria, compositions, extension generally with its creditors, or proceedings seeking
reorganization, arrangement, or other relief. 
 “Intellectual Property” means all Copyrights, Trademarks and Patents, as amended,
renewed and extended from time to time. 
 “Inventory” means all present and future inventory in which TLC has any interest. 

“Investment” means any beneficial ownership of (including stock, partnership or limited liability company interest or other securities) any
Person, or any loan, advance or capital contribution to any Person. 
 “IRC” means the Internal Revenue Code of 1986, as amended, and the
regulations thereunder. 
 “Lien” means any mortgage, lien, deed of trust, charge, pledge, security interest or other encumbrance. 

“Loan Documents” means, collectively, this Agreement, any note or notes executed by any Borrower, and any other document, instrument
or agreement entered into in connection with this Agreement, all as amended or extended from time to time. 
 “Loan Service Request Form”
means is a form in substantially the form of Exhibit E. 
 “Material Adverse Effect” means (i) a material
impairment in the perfection or priority of Bank’s Lien in the Collateral or in the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of the Borrowers, taken as a
whole; or (c) a material impairment of the prospect of repayment of the Obligations. 
 “Maturity Date” means June 30, 2023. 

“Negotiable Collateral” means, as to any Person, any letters of credit of which such Person is a beneficiary, drafts, instruments (including
promissory notes), securities, documents of title, and chattel paper, and all Books relating to any of the foregoing. 
 “Obligations”
means all debt, principal, interest, Bank Expenses and other amounts owed to Bank by a Borrower pursuant to this Agreement or any other agreement, whether absolute or contingent, due or to become due, now existing or hereafter arising, including any
interest that accrues after the commencement of an Insolvency Proceeding. 
 “Operating Documents” are, for any Person, such Person’s
formation documents, as certified by the Secretary of State (or equivalent agency) of such Person’s jurisdiction of organization, and, (a) if such Person is a corporation, its articles of incorporation in current form, (b) if such
Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with all current amendments
or modifications thereto. 

  
 3 

 “Patents” means all patents, patent applications and like protections including without
limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 

“Permitted Indebtedness” means: 
  

	(a)	 Indebtedness of Borrowers in favor of Bank arising under this Agreement or any other Loan Document;

  

	(b)	 Indebtedness existing on the Closing Date and disclosed in the Schedule; 

 

	(c)	 Indebtedness not to exceed One Hundred Thousand Dollars ($100,000) in the aggregate in any fiscal year of a
Borrower secured by a lien described in clause (c) of the defined term “Permitted Liens,” provided such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed with such Indebtedness;

  

	(d)	 Subordinated Debt; 

  

	(e)	 Indebtedness to trade creditors incurred in the ordinary course of business; and 

 

	(f)	 Extensions, refinancings and renewals of any items of Permitted Indebtedness, provided that the principal
amount is not increased or the terms modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. 

“Permitted Investment” means: 
  

	(a)	 Investments existing on the Closing Date disclosed in the Schedule; 

 

	(b)	 Repurchases of stock from former employees or directors of a Borrower under the terms of applicable equity
incentive plans, provided that no Event of Default has occurred, is continuing or would exist after giving effect to the repurchases; 

  

	(c)	 Investments of Subsidiaries in or to other Subsidiaries or a Borrower and Investments by a Borrower in
Subsidiaries; 

  

	(d)	 Joint ventures or strategic alliances in the ordinary course of a Borrower’s business consisting of the non-exclusive or exclusive licensing of technology for particular territories, the development of technology or the providing of technical support. 

“Permitted Liens” means the following: 
  

	(a)	 Any Liens existing on the Closing Date and disclosed in the Schedule or arising under this Agreement;

  

	(b)	 Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being
contested in good faith by appropriate proceedings and for which a Borrower maintains adequate reserves, provided the same have no priority over any of Bank’s security interests; 

 

	(c)	 Liens securing the Indebtedness described in clause (c) of the defined term “Permitted
Indebtedness”; 

  

	(d)	 Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default
under Sections 8.5 (attachment) or 8.9 (judgments); and 

  

	(e)	 Liens in favor of other financial institutions arising in connection with a Borrower’s deposit accounts
held at such institutions to secured standard fees for deposit services charged by, but not financing made available by such institutions, provided that Bank has a perfected security interest in the amounts held in such deposit accounts.

  
 4 

 “Permitted Transfer” means the conveyance, sale, lease, transfer or disposition by a
Borrower or any Subsidiary of: 
  

	(a)	 Inventory in the ordinary course of business; 

 

	(b)	 Non-exclusive licenses, exclusive licenses for particular territories
and similar arrangements for the use of the property of a Borrower or its Subsidiaries in the ordinary course of business; 

  

	(c)	 The sale of equity securities of TLC Biopharmaceuticals (H.K.) Limited; and 

 

	(d)	 Worn-out or obsolete Equipment. 

“Person” means any individual, sole proprietorship, partnership, limited liability company, joint venture, trust, unincorporated
organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or governmental agency. 

“Prime Rate” means the greater of (i) four percent (4.0%) and (ii) the rate of interest per annum from time to time published in
the money rates section of The Wall Street Journal or any successor publication thereto as the “prime rate” then in effect; provided that if such rate of interest, as set forth from time to time in the money rates section of The
Wall Street Journal, becomes unavailable for any reason as determined by Bank, the “Prime Rate” shall mean the greater of (i) four percent (4.0%) and (ii) the rate of interest per annum announced by Bank as its prime rate
(such Bank announced Prime Rate not being intended to be the lowest rate of interest charged by Bank in connection with extensions of credit). 

“Prohibited Territory” means any person or country listed by the Office of Foreign Assets Control of the United States Department of
Treasury as to which transactions between a United States Person and that territory are prohibited. 
 “Responsible Officer” means
each of the Chairman, President and the Chief Executive Officer of a Borrower. 
 “Promissory Note” means each promissory note in the form
of Exhibit C hereto issued by Borrowers evidencing the Indebtedness of Borrowers hereunder and any promissory notes subsequently issued in replacement thereof. 

“Promissory Note Record” means a record maintained by Bank with respect to the outstanding Obligations owed by Borrowers to Bank and credits
made thereto. 
 “Schedule” means the schedule of exceptions attached hereto and approved by Bank, if any. 

“Second Amendment Date” means June 18, 2020. 

“Subordinated Debt” means any debt incurred by a Borrower that is subordinated in writing to the debt owing by such Borrower to Bank on terms
reasonably acceptable to Bank. 
 “Subsidiary” means any corporation, partnership or limited liability company or joint venture in which
(i) any general partnership interest or (ii) more than fifty percent (50%) of the stock, limited liability company interest or joint venture of which by the terms thereof ordinary voting power to elect a majority of the members of the
Board of Directors, managers or trustees of the entity, at the time as of which any determination is being made, is owned by a Borrower, either directly or through an Affiliate. 

“TIFRS” means the following, as endorsed by the Taiwan Financial Supervisory Commission: International Financial Reporting Standards (IFRS),
International Accounting Standards (IAS), and Interpretations developed by the International Financial Reporting Interpretations Committee (IFRIC) or the former Standing Interpretations Committee (SIC). 

  
 5 

 “Taiwan Promissory Note” means each promissory note in the form of Exhibit E hereto
issued by Borrowers in accordance with the laws of Taiwan (Republic of China) evidencing the Indebtedness of Borrowers hereunder and any promissory notes subsequently issued in replacement thereof. 

“Taiwan Promissory Note Authorization” means the written authorization issued by Borrowers in the form of Exhibit F hereto authorizing
Bank to complete the Taiwan Promissory Note as provided therein. 
 “Total Liabilities” means at any date as of which the amount thereof
shall be determined, all obligations that should, in accordance with IFRS or TIFRS, as applicable, be classified as liabilities on the consolidated balance sheet of Borrowers and their respective Subsidiaries, including in any event, to the extent
not already included, all Indebtedness. 
 “Trademarks” means any trademark and servicemark rights, whether registered or not, applications
to register and registrations of the same and like protections, and the entire goodwill of the business connected with and symbolized by such trademarks. 

“Trade Receivables” means amounts billed by Borrowers to their customers upon delivery of goods or services to such customers in the ordinary
course of Borrowers’ business. 
  

	 	2.	 LOAN AND TERMS OF PAYMENT 

2.1 Credit Extensions. 

(a) Term Loan. 
 (i)
Subject to and upon the terms and conditions of this Agreement, from the Second Amendment Date through the Availability End Date, Bank shall make Advances to Borrowers in an aggregate amount not to exceed Twelve Million Dollars ($12,000,000). On the
Second Amendment Date, subject to and upon the terms and conditions of this Agreement, Bank agrees to make an Advance to Borrowers in an aggregate amount of Eight Million Dollars ($8,000,000) which Borrowers agree shall be applied to repay all
outstanding Obligations in their entirety with any amount remaining to be used by Borrowers for general business requirements. Upon receipt of evidence satisfactory to Bank of the closing of the sale of equity securities of Parent of at least Twenty
Million Dollars ($20,000,000) prior to the Availability End Date, subject to and upon the terms and conditions of this Agreement, Bank agrees to make an Advance to Borrowers in an aggregate amount of Four Million Dollars ($4,000,000). 

(ii) When a Borrower desires to obtain an Advance, such Borrower shall notify Bank (which notice shall be irrevocable) by electronic
transmission of a Loan Service Request Form not later than 2:00 p.m. Pacific Time at least three (3) Business Days before the Funding Date of such Advance. The notice shall be signed by a Responsible Officer or its designee. Bank may rely on
any notice given by a person whom Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrowers shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. 

(iii) Interest shall accrue from the Funding Date of each Advance at the rate specified in Section 2.2(a), and shall be payable monthly
on the last day of each month, beginning the last day of the month after such Funding Date. Any Advances that are outstanding on the Availability End Date shall be payable in twenty-four (24) equal monthly installments of principal, plus all
accrued interest, each installment to be equal to such outstanding balance divided by thirty-six (36). The first such payment is due on July 31, 2021. Borrowers shall make subsequent payments on the last
day of each month thereafter through the Maturity Date, at which time the entire unpaid principal balance and all accrued but unpaid interest shall be immediately due and payable. Borrowers may prepay the Advances in whole or in part without penalty
or premium, but no Advance may be reborrowed. Partial prepayments shall be applied first to interest, then to principal installments in reverse order of maturity. 

  
 6 

 2.2 Interest Rates, Payments, and Calculations. 

(a) Interest. Except as set forth in Section 2.2(b), the Advances shall bear interest, on the outstanding daily balance thereof,
at a floating rate per annum equal to the Prime Rate. 
 (b) Late Fee; Default Rate. If any payment is not made within ten
(10) days after the date such payment is due, Borrowers shall pay Bank a late fee equal to the lesser of (i) five percent (5%) of the amount of such unpaid amount or (ii) the maximum amount permitted to be charged under applicable
law. All Obligations shall bear interest, from and after the occurrence and during the continuance of an Event of Default, at a rate equal to five (5) percentage points above the interest rate applicable immediately prior to the occurrence of
the Event of Default. 
 (c) Payments. Each Borrower authorizes Bank, at its option, to charge all principal and interest payments
and other amounts outstanding under this Agreement against any of either Borrower’s deposit accounts. Any interest not paid when due shall be compounded by becoming a part of the Obligations, and such interest shall thereafter accrue interest
at the rate then applicable hereunder. 
 (d) Withholding. Borrowers shall make all payments due under this Agreement free and clear
of and without deduction for any and all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any governmental authority (including any interest, additions to tax or penalties
applicable thereto). If at any time any governmental authority, applicable law or regulation requires a Borrower to make any withholding or deduction from any such payment or other sum payable hereunder to Bank, such Borrower shall increase such
payment to the extent necessary to ensure that, after the making of such required withholding or deduction, Bank receives a net sum equal to the sum that it would have received had no withholding or deduction been required, and such Borrower shall
pay the full amount withheld or deducted to the relevant governmental authority. Each Borrower will, upon request, furnish Bank with proof reasonably satisfactory to Bank indicating that Borrower has made such withholding payment. The obligations of
Borrowers under this Section shall survive the termination of this Agreement. 
 (e) Computation. In the event the Prime Rate is
changed from time to time, the applicable rate of interest shall be changed, effective as of the day such rate is changed, by an amount equal to such change in such rate. All interest chargeable under the Loan Documents shall be computed on the
basis of a three hundred sixty (360) day year for the actual number of days elapsed. In computing interest on any Advance, the Funding Date shall be included and the date of payment shall be excluded; provided, however, that if any Advance is
repaid on the same day on which it is made, such day shall be included in computing interest on such Advance. 
 2.3 Crediting
Payments. Before the occurrence of an Event of Default, Bank shall credit a wire transfer of funds, check or other item of payment to such deposit account or Obligation as Borrower specifies. After the occurrence and during the continuation of
an Event of Default, Bank may, in its sole discretion, immediately apply any wire transfer of funds, check, or other item of payment Bank may receive to conditionally reduce Obligations, but such applications of funds shall not be considered a
payment on account unless such payment is of immediately available federal funds or unless and until such check or other item of payment is honored when presented for payment. Notwithstanding anything to the contrary contained herein, any wire
transfer or payment received by Bank after 2:00 p.m. Pacific Time shall be deemed to have been received by Bank as of the opening of business on the immediately following Business Day. Whenever any payment to Bank under the Loan Documents would
otherwise be due (except by reason of acceleration) on a date that is not a Business Day, such payment shall instead be due on the next Business Day, and additional fees or interest, as the case may be, shall accrue and be payable for the period of
such extension. 
 2.4 Fees. Borrowers shall pay to Bank the following: 

(a) Facility Fee. On the Second Amendment Date, a fee equal to Thirty-six Thousand Dollars
($36,000), which shall be nonrefundable; and 
 (b) Bank Expenses. On the Second Amendment Date, all Bank Expenses incurred and
billed through the Second Amendment Date, and, after the Second Amendment Date, all Bank Expenses, as and when they become due. 

  
 7 

 2.5 Promissory Notes. The Term Loan shall be evidenced by a Promissory Note.
Borrowers irrevocably authorize Bank to make or cause to be made, on or about the Funding Date of any Advance or at the time of receipt of any payment of principal on such Promissory Note, an appropriate notation on the Promissory Note Record
reflecting the making of such Advance or (as the case may be) the receipt of such payment. The outstanding amount of each Advance set forth on the Promissory Note Record shall be evidence of the principal amount owing to Bank, but the failure to
record, or any error in so recording, any such amount on the Promissory Note Record shall not limit or otherwise affect the obligations of Borrowers under the Promissory Note or this Agreement. Upon receipt of an affidavit of an officer of Bank as
to the loss, theft, destruction, or mutilation of the Promissory Note containing a customary indemnification of Borrowers, Borrowers shall issue, in lieu thereof, a replacement of such note in the same principal amount thereof and of like
tenor. The original of any Promissory Note shall be returned to the Parent within three (3) Business Days after all of the Obligations of Borrowers have been fully repaid and performed. 

2.6 Term. This Agreement shall become effective on the Closing Date and, subject to Section 12.8, shall continue in full force and
effect for so long as any Obligations remain outstanding or Bank has any right or obligation to make Advances under this Agreement. 
  

	 	3.	 CONDITIONS OF LOANS 

3.1 Conditions Precedent to Initial Advance. The obligation of Bank to make the initial Advance is subject to the condition precedent
that Bank shall have received, in form and substance satisfactory to Bank, the following: 
 (a) this Agreement; 

(b) the Promissory Note; 
 (c)
the Taiwan Promissory Note and Taiwan Promissory Note Authorization; 
 (d) an officer’s certificate of each Borrower; 

(e) the Operating Documents of each Borrower and its Subsidiaries and a good standing certificate of TLC; 

(f) payment of the fees and Bank Expenses then due specified in Section 2.4; 

(g) evidence satisfactory to Bank that the insurance policies required by Section 6.5 hereof are in full force and effect; 

(h) certified copies, dated as of a recent date, of financing statement searches, as Bank may request, accompanied by written evidence
(including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have been or, in connection with the initial Advance, will be terminated or released; 

(i) current financial statements of Parent and such other updated financial information as Bank may reasonably request; 

(j) current Compliance Certificate in accordance with Section 6.2; 

(k) the Perfection Certificate of Borrowers together with the duly executed original signatures thereto; 

(l) a legal opinion of Borrowers’ counsel dated as of the Closing Date together with the duly executed original signature thereto; and

  
 8 

 (m) such other documents or certificates, and completion of such other matters, as Bank may
reasonably deem necessary or appropriate. 
 3.2 Conditions Precedent to all Credit Extensions. The obligation of Bank to make each
Advance, including the initial Advance, is further subject to the following conditions: 
 (a) timely receipt by Bank of the Loan Service
Request Form as provided in Section 2.1; and 
 (b) the representations and warranties contained in Article 5 shall be true and correct
in all material respects on and as of the date of such Loan Service Request Form and on the effective date of each Advance as though made at and as of each such date, and no Event of Default shall have occurred and be continuing, or would exist
after giving effect to such Credit Extension. The making of each Advance shall be deemed to be a representation and warranty by Borrowers on the date of such Advance as to the accuracy of the facts referred to in this Section 3.2. 

 

	 	4.	 CREATION OF SECURITY INTEREST 

4.1 Grant of Security Interest. Each Borrower grants Bank a continuing security interest in all of its right, title and interest in and
to the Collateral to secure prompt repayment of any and all Obligations and to secure prompt performance by Borrowers of each of their covenants and duties under the Loan Documents. Notwithstanding any termination of this Agreement, Bank’s Lien
on the Collateral shall remain in effect for so long as any Obligations are outstanding. 
 4.2 Perfection of Security Interest. Each
Borrower authorizes Bank to file financing statements, continuation statements, and amendments to perfect or continue the perfection of Bank’s Lien. Each Borrower shall from time to time endorse and deliver to Bank, at the request of Bank, all
Negotiable Collateral. Where any material portion of the Collateral is in possession of a third party, a Borrower shall take such steps as Bank reasonably requests for Bank to (i) obtain an acknowledgment, in form and substance satisfactory to
Bank, of the bailee that the bailee holds such Collateral for the benefit of Bank, and (ii) obtain “control” of any Collateral consisting of investment property, deposit accounts, letter-of-credit rights or electronic chattel paper (as such items and the term “control” are defined in Revised Article 9 of the Code) by causing the securities intermediary or depositary
institution or issuing bank to execute a control agreement in form and substance satisfactory to Bank. No Borrower will create any chattel paper without placing a legend on the chattel paper acceptable to Bank indicating that Bank has a security
interest in the chattel paper. 
 4.3 Right to Inspect. Bank (through any of its officers, employees, or agents) shall have the right,
upon reasonable prior notice, from time to time during a Borrower’s usual business hours but no more than twice a year (unless an Event of Default has occurred and is continuing), to inspect such Borrower’s Books and to make copies thereof
and to check, test, and appraise the Collateral in order to verify a Borrower’s financial condition or the amount, condition of, or any other matter relating to, the Collateral. 

4.4 Security Support. In order to secure the performance of the Obligations, Borrowers, as a condition precedent to the Advance on the
Second Amendment Date, execute and deliver: (i) a Taiwan Promissory Note in an amount of Twelve Million Dollars ($12,000,000) (except that the due date, the date from which interest is to accrue and the interest rate thereon shall be left
blank) (in form of Exhibit E) and (ii) a Taiwan Note Authorization (in form of Exhibit F). The original(s) of the Taiwan Promissory Note shall be returned to the Parent within three (3) Business Days after all of the
Obligations of Borrowers have been fully repaid and performed. 
 4.5 Replacement of Taiwan Promissory Note. With respect to the
Taiwan Promissory Note being issued, Borrowers shall, upon the written notice of Bank, issue and deliver to Bank, on the next Business Day of receipt of such notice, another Taiwan Promissory Note identical in all substantive respects to the Taiwan
Promissory Note it is to replace (save that the date of new Taiwan Promissory Note shall be the date of delivery thereof to Bank). 

  
 9 

	 	5.	 REPRESENTATIONS AND WARRANTIES 

Each Borrower represents and warrants as follows: 

5.1 Due Organization and Qualification. Such Borrower and each Subsidiary thereof is an entity duly existing under the laws of the
jurisdiction in which it is organized and qualified and licensed to do business in any state in which the conduct of its business or its ownership of property requires that it be so qualified, except where the failure to do so could not reasonably
be expected to cause a Material Adverse Effect. 
 5.2 Due Authorization; No Conflict. The execution, delivery, and performance of the
Loan Documents are within such Borrower’s powers, have been duly authorized, and are not in conflict with nor constitute a breach of any provision contained in Borrower’s Organizational Documents, nor will they constitute an event of
default under any material agreement by which Borrower is bound. Borrower is not in default in any material respect under any material agreement by which it is bound. 

5.3 Collateral. Except as set forth in the Schedule, Bank’s Lien constitutes a valid, first priority security interest in the
Collateral other than the personal property of Parent located outside of the United States. TLC has rights in or the power to transfer its portion of the Collateral, and its title thereof is free and clear of Liens, adverse claims, and restrictions
on transfer or pledge except for Permitted Liens. All Accounts are bona fide obligations of account debtors of a Borrower, and all Inventory is in all material respects of good and merchantable quality, free from all material defects, except for
Inventory for which adequate reserves have been made. Except as set forth in the Schedule, no depository, operating, or investment account of TLC that is part of the Collateral is maintained or invested with a Person other than Bank or Bank’s
Affiliates. 
 5.4 Intellectual Property. Parent is the sole owner of the Intellectual Property, except for licenses granted by
Parent to its customers in the ordinary course of business. Each of the Copyrights, Trademarks and Patents in which Parent has an interest is valid and enforceable, no part of the Intellectual Property has been judged invalid or unenforceable, in
whole or in part, and no claim has been made to Parent that any part of the Intellectual Property violates the rights of any third party, except to the extent such claim could not reasonably be expected to cause a Material Adverse Effect. 

5.5 Name; Location of Chief Executive Office. Except as disclosed in the Schedule, such Borrower has not done business under any name
other than that specified on the signature page hereof, and its exact legal name is as set forth in the first paragraph of this Agreement. The chief executive office of such Borrower is located at the address indicated in Section 10 hereof.

 5.6 Actions, Suits, Litigation, or Proceedings. There are no actions, suits, litigation or proceedings, at law or in equity,
pending by or against such Borrower or any Subsidiary before any court, administrative agency, or arbitrator in which a likely adverse decision could reasonably be expected to have a Material Adverse Effect. 

5.7 No Material Adverse Change in Financial Statements. All consolidated and consolidating financial statements related to such Borrower
and any Subsidiary that are delivered by such Borrower to Bank fairly present in all material respects such Borrower’s consolidated and consolidating financial condition as of the date thereof and such Borrower’s consolidated and
consolidating results of operations for the period then ended. There has not been a material adverse change in the consolidated or in the consolidating financial condition of Borrower since the date of the most recent of such financial statements
submitted to Bank. 
 5.8 Solvency, Payment of Debts. Such Borrower and each Subsidiary thereof is able to pay its debts (including
trade debts) as they mature; the fair saleable value of such Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; and such Borrower is not left with unreasonably small capital after the
transactions contemplated by this Agreement. 
 5.9 OFAC; Patriot Act Compliance. Neither such Borrower nor any Subsidiary thereof is
a Person (i) whose property or interest in property is blocked or subject to blocking pursuant to Section 1 of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit,
Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)), (ii) who engages in any dealings or transactions prohibited by Section 2 of such executive order, or is otherwise associated with any such Person in any manner violative of
such Section 2, or (iii) who is on the list of Specially Designated Nationals and Blocked Persons or subject to the limitations or prohibitions under any other U.S. Department of Treasury’s Office of Foreign Assets Control regulation
or executive order (“OFAC”). Such Borrower and each Subsidiary is in compliance with the Patriot Act. No Advances will be used, directly or indirectly, for payments to any governmental official or employee, political party or its
officials, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as
amended. 

  
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 5.10 Compliance with Laws and Regulations. Such Borrower and each Subsidiary thereof
has met the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. No event has occurred resulting from such Borrower’s or Subsidiary’s failure to comply with ERISA that is reasonably likely to
result in such Borrower’s or Subsidiary’s incurring any liability that could reasonably be expected to have a Material Adverse Effect. Neither such Borrower nor any such Subsidiary is an “investment company” or a company
“controlled” by an “investment company” within the meaning of the Investment Company Act of 1940. Neither such Borrower nor any Subsidiary is engaged principally, or as one of the important activities, in the business of
extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations T and U of the Board of Governors of the Federal Reserve System). Such Borrower and each Subsidiary has complied in all material respects with
all the provisions of the Federal Fair Labor Standards Act to the extent that they are applicable to them. Such Borrower and each Subsidiary is in compliance in all material respects with all environmental laws, regulations and ordinances. Neither
such Borrower nor any such Subsidiary is in violation in any material respect with any material statutes, laws, ordinances or rules applicable to it. Such Borrower and each Subsidiary has filed or caused to be filed all material tax returns required
to be filed, and have paid, or have made adequate provision for the payment of, all taxes reflected therein except those being contested in good faith with adequate reserves under IFRS or TIFRS, as applicable. 

5.11 Investments. Neither such Borrower nor any Subsidiary owns any stock, partnership interest or other equity securities of any
Person, except for Permitted Investments. 
 5.12 Government Consents. Such Borrower and each Subsidiary have obtained all consents,
approvals and authorizations of, made all declarations or filings with, and given all notices to, all governmental authorities that are necessary for the continued operation of its business as currently conducted, except where the failure to do so
could not reasonably be expected to cause a Material Adverse Effect. 
 5.13 Inbound Licenses. Except as disclosed on the Schedule,
such Borrower is not a party to, nor is bound by, any inbound license or other agreement, the failure, breach, or termination of which could reasonably be expected to cause a Material Adverse Effect. 

5.14 Full Disclosure. No representation, warranty or other statement made by such Borrower in any certificate or written statement
furnished to Bank taken together with all such certificates and written statements furnished to Bank contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained in such
certificates or statements not materially misleading, it being recognized by Bank that the projections and forecasts provided by such Borrower in good faith and based upon reasonable assumptions are not to be viewed as facts and that actual results
during the period or periods covered by any such projections and forecasts may differ from the projected or forecasted results. 
  

	 	6.	 AFFIRMATIVE COVENANTS 

Each Borrower shall do all of the following: 

6.1 Good Standing and Government Compliance. TLC shall maintain its and to the extent applicable with respect to a jurisdiction, each of
its Subsidiaries’ organizational existence and good standing in their respective jurisdictions of formation and its qualification and good standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to
have a Material Adverse Effect; Parent shall maintain (a) its organizational existence in its jurisdiction of formation and its qualification in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a
Material Adverse Effect, and (b) to the extent applicable with respect to a jurisdiction, each of its Subsidiaries’ organizational existence and good standing in their respective jurisdictions of formation and their qualification and good
standing in each other jurisdiction in which the failure to so qualify could reasonably be expected to have a Material Adverse Effect 

  
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 6.2 Financial Statements, Reports, Certificates. 

(a) Parent shall deliver to Bank: (i) as soon as available, but in any event within forty-five (45) days after the end of each
quarter ending March 31, June 30, and September 30, company prepared consolidated financial statements of Parent prepared in accordance with TIFRS, in a form reasonably acceptable to Bank, and reviewed by an independent certified
public accounting firm reasonably acceptable to Bank; (ii) as soon as available, but in any event within one hundred twenty (120) days after the end of its fiscal year, audited consolidated financial statements of Parent prepared in
accordance with IFRS, consistently applied, together with an unqualified opinion of an independent certified public accounting firm reasonably acceptable to Bank; (iii) together with the information set forth in clauses (i) and (ii), a
Compliance Certificate signed by a Responsible Officer; 
 (b) Parent shall deliver to Bank (i) promptly upon receipt of notice
thereof, a report of any legal actions pending or threatened against a Borrower or any Subsidiary that could reasonably be expected to result in damages or costs to Borrower or any Subsidiary thereof of Twenty Five Thousand Dollars ($25,000) or
more; and 
 (c) Borrowers may deliver to Bank on an electronic basis any certificates, reports or information required pursuant to this
Section 6.2, and Bank shall be entitled to rely on the information contained in the electronic files, provided that Bank in good faith believes that the files were delivered by a Responsible Officer. If Borrowers deliver the information
described in clause (a) electronically, they shall also deliver to Bank by first-class mail, reputable overnight courier service, hand delivery, facsimile or .pdf file within five (5) Business Days of submission of the unsigned electronic
copy the certification of quarterly and annual financial statements. 
 6.3 Inventory; Returns. Borrowers shall keep all Inventory in
good and merchantable condition, free from all material defects except for Inventory for which adequate reserves have been made. Returns and allowances, if any, as between Borrowers and its account debtors shall be on the same basis and in
accordance with the usual customary practices of Borrowers, as they exist on the Closing Date. Borrowers shall promptly notify Bank of all returns and recoveries and of all disputes and claims which could reasonably be expected to result in a loss
of more than One Hundred Thousand Dollars ($100,000). 
 6.4 Taxes. Make, and cause each Subsidiary to make, due and timely payment or
deposit of all material federal, state, and local taxes, assessments, or contributions required of it by law, including, but not limited to, those laws concerning income taxes, F.I.C.A., F.U.T.A. and state disability, and will execute and deliver to
Bank, on demand, proof satisfactory to Bank indicating that Borrower or a Subsidiary has made such payments or deposits and any appropriate certificates attesting to the payment or deposit thereof; provided that Borrower or a Subsidiary need not
make any payment if the amount or validity of such payment is contested in good faith by appropriate proceedings and is reserved against (to the extent required by IFRS or TIFRS, as applicable) by Borrower. 

6.5 Insurance. 
 (a)
Insurance requirement shall be waived for TLC. 
 (b) Keep the Collateral insured against loss or damage by fire, theft, explosion,
sprinklers, and all other hazards and risks, and in such amounts, as ordinarily insured against by other owners in similar businesses conducted in the locations where Borrowers’ business is conducted on the date hereof; maintain liability and
other insurance in amounts and of a type that are customary to businesses similar to Borrowers’ businesses. All such policies of insurance shall be in such form, with such companies, and in such amounts as reasonably satisfactory to Bank. 

6.6 Bank Accounts. TLC shall maintain its primary depository and operating accounts with Bank and its primary investment accounts with
Bank or Bank’s Affiliates (covered by satisfactory control agreements). Parent shall keep the balance of the unused Advances in the depository and operating accounts maintained with Bank. Any accounts of TLC (other than payroll accounts, trust
accounts or accounts with de minimis balances) permitted hereunder to be maintained outside Bank shall be subject to control agreements in form and content reasonably acceptable to Bank. 

  
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 6.7 Financial Covenants. Commencing on the Second Amendment Date, maintain as of the
last day of each quarter on a consolidated basis, each of the financial covenants set forth below, such covenants also to be reported and tested as of the last day of each quarter beginning on the Second Amendment Date: 

(a) Adjusted Quick Ratio. A ratio of Cash plus Borrowers’ net Trade Receivables to Current Liabilities, including without
duplication, seventy percent (70.0%) of the amount of principal payments owing to Bank under this Agreement for the next twelve (12) months (the amount of such principal payments up to Four Million Dollars ($4,000,000)) but excluding Current
Liabilities due to IFRS 16 of at least 1.50 to 1.00. 
 (b) Adjusted Tangible Net Worth. Adjusted Tangible Net Worth of not less than
$12,000,000. 
 6.8 [Reserved.] 

6.9 [Reserved.] 
 6.10
Further Assurances. At any time and from time to time, execute and deliver such further instruments and take such further action as may reasonably be requested by Bank to effect the purposes of this Agreement. 

 

	 	7.	 NEGATIVE COVENANTS 

No Borrower shall do any of the following, except with Bank’s prior written consent: 

7.1 Dispositions. Convey, sell, lease, license, transfer or otherwise dispose of all or any part of its business or property, other than
Permitted Transfers, or permit any Subsidiary to do so. 
 7.2 Change in Name, Location, Executive Office, or Executive Management; Change
in Business; Change in Fiscal Year; Change in Control. Change its name or change its jurisdiction of organization or relocate its chief executive office without thirty (30) days prior written notification to Bank; replace its chief
executive officer or chief financial officer, other than for cause, without thirty (30) days prior written notification to Bank; engage in any business, or permit any of its Subsidiaries to engage in any business, other than or reasonably
related or incidental to the businesses currently engaged in by such Borrower; change its fiscal year end; or have a Change in Control. 

7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other
business organization (other than mergers or consolidations of a Subsidiary into another Subsidiary or into Borrower), or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another
Person, or enter into any agreement to do any of the same. 
 7.4 Indebtedness. Create, incur, assume, guarantee or be or remain
liable with respect to any Indebtedness, or permit any Subsidiary so to do, other than Permitted Indebtedness. 
 7.5 Encumbrances.
Create, incur, assume or allow any Lien with respect to any of its property, or assign or otherwise convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries so to do, except for Permitted Liens, or
agree with any other Person to refrain from creating, or allowing any Lien on any of Borrower’s property. 
 7.6 Distributions.
Pay any dividends or make any other distribution or payment on account of or in redemption, retirement or purchase of any capital stock, except that Parent may pay dividends or Borrower may repurchase the stock of former employees pursuant to equity
incentive plans as long as an Event of Default does not exist prior to such repurchase or would not exist after giving effect to such repurchase. 

  
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 7.7 Investments. Directly or indirectly acquire or own, or make any Investment in or
to any Person, or permit any of its Subsidiaries to do so, other than Permitted Investments, or maintain or invest any of its property with a Person other than Bank or Bank’s Affiliates or permit any Subsidiary to do so unless such Person has
entered into a control agreement with Bank, in form and substance satisfactory to Bank, or suffer or permit any Subsidiary to be a party to, or be bound by, an agreement that restricts such Subsidiary from paying dividends or otherwise distributing
property to Borrower. 
 7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material
transaction with any Affiliate of Borrower except for transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length
transaction with a non-affiliated Person. 
 7.9 Subordinated Debt. Make any payment in
respect of any Subordinated Debt, or permit any of its Subsidiaries to make any such payment, except in compliance with the terms of such Subordinated Debt and the terms of the subordination agreement relating to such Subordinated Debt, or amend any
provision of any document evidencing such Subordinated Debt, except in compliance with the terms of the subordination agreement relating to such Subordinated Debt, or amend any provision affecting Bank’s rights contained in any documentation
relating to the Subordinated Debt. 
 7.10 Inventory and Equipment. Store any material portion of the Inventory or the Equipment with
a bailee, warehouseman, or similar third party unless the third party has been notified of Bank’s security interest and Bank (a) has received an acknowledgment from the third party that it is holding or will hold the Inventory or Equipment
for Bank’s benefit or (b) is in possession of the warehouse receipt, where negotiable, covering such Inventory or Equipment. Except for Inventory sold in the ordinary course of business and except for such other locations as Bank may
approve in writing, TLC shall keep the Inventory and Equipment only at the location set forth in Section 10 and such other locations of which TLC gives Bank prior written notice and as to which Bank files a financing statement where needed to
perfect its security interest. 
 7.11 Legal Compliance. Fail to meet, or permit any Subsidiary thereof to fail to meet, the minimum
funding requirements of ERISA with respect to any employee benefit plans subject to ERISA, or fail to comply in all material respects with all applicable Environmental Laws, or fail to maintain all material permits, licenses and approvals required
thereunder, or fail to comply in all material respects with all material statutes, laws, ordinances and government rules and regulations to which it is subject, or fail to maintain, or cause each of its Subsidiaries to maintain, in force all
material licenses, approvals and agreements. 
 7.12 No Investment Company; Margin Regulation. Become or be controlled by an
“investment company,” within the meaning of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of its important activities, the business of extending credit for the purpose of purchasing or carrying
margin stock, or use the proceeds of any Credit Extension for such purpose. 
  

	 	8.	 EVENTS OF DEFAULT 

Any one or more of the following events shall constitute an Event of Default by Borrowers under this Agreement: 

8.1 Payment Default. If a Borrower fails to pay any of the Obligations when due; 

8.2 Covenant Default. 

(a) If a Borrower fails to perform any obligation under Sections 6.1, 6.2, 6.5, or 6.7 or violates any of the covenants contained in Article 7
of this Agreement; or 

  
 14 

 (b) If a Borrower fails or neglects to perform or observe any other material term,
provision, condition, covenant contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between such Borrower and Bank and as to any default under such other term, provision, condition or covenant that
can be cured, has failed to cure such default within thirty (30) days after either Borrower receives notice thereof or any Responsible Officer of such Borrower becomes aware thereof; provided, however, that if the default cannot by its nature
be cured within the thirty (30) day period or cannot after diligent attempts by such Borrower be cured within such thirty (30) day period, and such default is likely to be cured within a reasonable time, then such Borrower shall have an
additional reasonable period (which shall not in any case exceed sixty (60) days) to attempt to cure such default, so long as such Borrower continues to diligently attempt to cure such default, and within such reasonable time period the failure
to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made; 
 8.3 Material Adverse
Change. If there occurs any circumstance or circumstances that results in a Material Adverse Effect. 
 8.4 Attachment. If any
material portion of any Borrower’s assets is attached, seized, subjected to a writ or distress warrant, or is levied upon, or comes into the possession of any trustee, receiver or person acting in a similar capacity and such attachment,
seizure, writ or distress warrant or levy has not been removed, discharged or rescinded within five (5) days, or if any Borrower is enjoined, restrained, or in any way prevented by court order from continuing to conduct all or any material part
of its business affairs, or if a judgment or other claim becomes a lien or encumbrance upon any material portion of any Borrower’s assets, or if a notice of lien, levy, or assessment is filed of record with respect to any of a Borrower’s
assets by the United States Government, or any department, agency, or instrumentality thereof, or by any state, county, municipal, or governmental agency, and the same is not paid within five (5) days after such Borrower receives notice
thereof, provided that none of the foregoing shall constitute an Event of Default where such action or event is stayed or an adequate bond has been posted pending a good faith contest by such Borrower (provided that no Advances will be made during
such cure period); 
 8.5 Insolvency. If any Borrower becomes insolvent, or if an Insolvency Proceeding is commenced by any Borrower,
or if an Insolvency Proceeding is commenced against any Borrower and is not dismissed or stayed within thirty (30) days (provided that no Advances will be made prior to the dismissal of such Insolvency Proceeding); 

8.6 Other Agreements. If there is a default or other failure to perform in any agreement to which Borrower is a party with a third party
or parties resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of One Hundred Thousand Dollars ($100,000); 

8.7 Judgments. If one or more final judgments, orders, or decrees for the payment of money in an amount, individually or in the
aggregate, of at least One Hundred Thousand Dollars ($100,000) shall be rendered against any Borrower or any of its Subsidiaries and the same are not, within ten (10) days after the entry thereof, discharged or execution thereof stayed or
bonded pending appeal, or such judgments are not discharged prior to the expiration of any such stay (provided that no Advances will be made prior to the discharge, stay, or bonding of such judgment, order, or decree). 

8.8 Misrepresentations. If any material misrepresentation or misstatement exists now or hereafter in any warranty or representation set
forth herein or in any certificate delivered to Bank by any Responsible Officer pursuant to this Agreement or to induce Bank to enter into this Agreement or any other Loan Document. 

 

	 	9.	 BANK’S RIGHTS AND REMEDIES 

9.1 Rights and Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank may, at its election, without
notice of its election and without demand, do any one or more of the following, all of which are authorized by each Borrower: 
 (a) Declare
all Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or otherwise, immediately due and payable (provided that upon the occurrence of an Event of Default described in Section 8.5 (insolvency), all Obligations
shall become immediately due and payable without any action by Bank); 

  
 15 

 (b) Cease advancing money or extending credit to or for the benefit of any Borrower under
this Agreement or under any other agreement between any Borrower and Bank; 
 (c) Settle or adjust disputes and claims directly with account
debtors for amounts, upon terms and in whatever order that Bank reasonably considers advisable; 
 (d) Make such payments and do such acts
as Bank considers necessary or reasonable to protect its security interest in the Collateral. Borrowers shall assemble the Collateral if Bank so requires, and to make the Collateral available to Bank as Bank may reasonably designate. Borrowers
authorize Bank to enter the premises where the Collateral is located, to take and maintain possession of the Collateral, or any part of it, and to pay, purchase, contest, or compromise any encumbrance, charge, or lien that in Bank’s
determination appears to be prior or superior to its security interest and to pay all expenses incurred in connection therewith. With respect to any of a Borrower’s owned premises, such Borrower grants Bank a license to enter into possession of
such premises and to occupy the same, without charge, in order to exercise any of Bank’s rights or remedies provided herein, at law, in equity, or otherwise; 

(e) Set off and apply to the Obligations any and all (i) balances and deposits of a Borrower held by Bank, and (ii) indebtedness at
any time owing to or for the credit or the account of a Borrower held by Bank; 
 (f) Ship, reclaim, recover, store, finish, maintain,
repair, prepare for sale, advertise for sale, and dispose of the Collateral. Each Borrower grants Bank a license to use, without charge, each Borrower’s labels, patents, copyrights, rights of use of any name, trade secrets, trade names,
trademarks, service marks, and advertising matter, or any property of a similar nature, as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of
its rights under this Section, each Borrower’s rights under all licenses and all franchise agreements shall inure to Bank’s benefit; 

(g) Dispose of the Collateral in accordance with the Code; and 

(h) Apply for the appointment of a receiver, trustee, liquidator or conservator of the Collateral, without notice and without regard to the
adequacy of the security for the Obligations and without regard to the solvency of Borrower, any guarantor or any other Person liable for any of the Obligations. 

Any deficiency that exists after disposition of the Collateral as provided above will be paid immediately by Borrowers. 

Bank may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will not be considered
adversely to affect the commercial reasonableness of any sale of the Collateral. 
 9.2 Power of Attorney. Effective only upon the
occurrence and during the continuance of an Event of Default, TLC irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as TLC’s true and lawful attorney to: (a) send requests for verification of Accounts or
notify account debtors of Bank’s security interest in the Accounts; (b) endorse TLC’s name on any checks or other forms of payment or security that may come into Bank’s possession; (c) sign name on any invoice or bill of
lading relating to any Account, drafts against account debtors, schedules and assignments of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of any Collateral; (e) make, settle, and adjust all claims under
and decisions with respect to policies of insurance; (f) settle and adjust disputes and claims respecting the accounts directly with account debtors, for amounts and upon terms which Bank determines to be reasonable; and (g) file, in its
sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of the Collateral without the signature of TLC where permitted by law; provided Bank may exercise such power of attorney to sign the name of
TLC on any of the documents described in clause (g) above, regardless of whether an Event of Default has occurred. The appointment of Bank TLC’s attorney in fact, and each and every one of Bank’s rights and powers, being coupled with
an interest, is irrevocable until all of the Obligations have been fully repaid and performed and Bank’s obligation to provide advances hereunder is terminated. 

  
 16 

 9.3 Accounts Collection. At any time after the occurrence and during the continuation
of an Event of Default, Bank may notify any Person owing funds to Borrowers of Bank’s security interest in such funds and verify the amount of such Account. Borrowers shall collect all amounts owing to Borrowers for Bank, receive in trust all
payments as Bank’s trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit. 

9.4 Bank Expenses. If any Borrower fails to pay any amounts or furnish any required proof of payment due to third persons or entities,
as required under the terms of this Agreement, then Bank may do any or all of the following after reasonable notice to Borrowers: (a) make payment of the same or any part thereof; or (b) obtain and maintain insurance policies of the type
discussed in Section 6.5 of this Agreement, and take any action with respect to such policies as Bank deems prudent. Any amounts so paid or deposited by Bank shall constitute Bank Expenses, shall be immediately due and payable, and shall bear
interest at the then applicable rate hereinabove provided, and shall be secured by the Collateral. Any payments made by Bank shall not constitute an agreement by Bank to make similar payments in the future or a waiver by Bank of any Event of Default
under this Agreement. 
 9.5 Bank’s Liability for Collateral. Bank has no obligation to clean up or otherwise prepare the
Collateral for sale. All risk of loss, damage or destruction of the Collateral shall be borne by Borrowers. 
 9.6 Remedies
Cumulative. Bank’s rights and remedies under this Agreement, the Loan Documents, and all other agreements shall be cumulative. Bank shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or in
equity. No exercise by Bank of one right or remedy shall be deemed an election, and no waiver by Bank of any Event of Default on either Borrower’s part shall be deemed a continuing waiver. No delay by Bank shall constitute a waiver, election,
or acquiescence by it. No waiver by Bank shall be effective unless made in a written document signed on behalf of Bank and then shall be effective only in the specific instance and for the specific purpose for which it was given. Borrowers expressly
agree that this Section 9.7 may not be waived or modified by Bank by course of performance, conduct, estoppel or otherwise. 
 9.7
Demand; Protest. Except as otherwise provided in this Agreement, each Borrower waives demand, protest, notice of protest, notice of default or dishonor, notice of payment and nonpayment and any other notices relating to the Obligations. 

 

	 	10.	 NOTICES 

Unless otherwise provided in this Agreement, all notices or demands by any party relating to this Agreement or any other agreement entered into in connection
herewith shall be in writing and (except for financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be personally delivered or sent by a recognized overnight delivery service, certified
mail, postage prepaid, return receipt requested, or by email to Borrowers or to Bank, as the case may be, at the addresses set forth below: 

If to Borrowers:                TLC Biopharmaceuticals, Inc.

 432 N. Canal Street, #20 

South San Francisco, CA 94080 

Attn: Chih-Heng Yeh 
 Email:
george@tlcbio.com 
 If to
Bank:                        Cathay Bank 

2855 Kifer Road, Suite 245 

Santa Clara, CA 95051 
 Attn: Yu-Fu Lin 
 Email: Yu-Fu.Lin@cathaybank.com 

The parties hereto may change the address at which they are to receive notices hereunder, by notice in writing in the foregoing manner given
to the other. 

  
 17 

	 	11.	 CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER; JUDICIAL REFERENCE 

California law governs the Loan Documents without regard to principles of conflicts of law, except for the Taiwan Promissory Note and Taiwan
Promissory Note Authorization, which shall be governed by and construed and interpreted in accordance with the laws of Taiwan (Republic of China). Each Borrower and Bank submit to the exclusive jurisdiction of the State and Federal courts in Santa
Clara County, California, except for the Taiwan Promissory Note and Taiwan Promissory Note Authorization, which shall only be enforced in the Taipei District Court and the applicable appellate courts in Taiwan (Republic of China); provided, however,
that nothing in this Agreement shall be deemed to operate to preclude Bank from bringing suit or taking other legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to enforce a judgment or
other court order in favor of Bank. Each Borrower submits and consents in advance to such jurisdiction in any action or suit commenced in any such court, and each Borrower waives any objection that it may have based upon lack of personal
jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by such court. Each Borrower waives personal service of the summons, complaints, and other process
issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by registered or certified mail addressed to TLC at the address set forth in, or subsequently provided by TLC in accordance with,
Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of TLC’s actual receipt thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid. 

EACH BORROWER AND BANK WAIVES THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS
AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER
WITH ITS COUNSEL. 
 WITHOUT INTENDING IN ANY WAY TO LIMIT THE PARTIES’ AGREEMENT TO WAIVE THEIR RESPECTIVE RIGHT TO A TRIAL BY
JURY, if the above waiver of the right to a trial by jury is not enforceable, the parties hereto agree that any and all disputes or controversies of any nature between them arising at any time shall be decided by a reference to a private judge,
mutually selected by the parties (or, if they cannot agree, by the Presiding Judge of the Santa Clara County, California Superior Court) appointed in accordance with California Code of Civil Procedure Section 638 (or pursuant to comparable
provisions of federal law if the dispute falls within the exclusive jurisdiction of the federal courts), sitting without a jury, in Santa Clara County, California; and the parties hereby submit to the jurisdiction of such court. The reference
proceedings shall be conducted pursuant to and in accordance with the provisions of California Code of Civil Procedure §§ 638 through 645.1, inclusive. The private judge shall have the power, among others, to grant provisional relief,
including without limitation, entering temporary restraining orders, issuing preliminary and permanent injunctions and appointing receivers. All such proceedings shall be closed to the public and confidential and all records relating thereto shall
be permanently sealed. If during the course of any dispute, a party desires to seek provisional relief, but a judge has not been appointed at that point pursuant to the judicial reference procedures, then such party may apply to the Santa Clara
County, California Superior Court for such relief. The proceeding before the private judge shall be conducted in the same manner as it would be before a court under the rules of evidence applicable to judicial proceedings. The parties shall be
entitled to discovery which shall be conducted in the same manner as it would be before a court under the rules of discovery applicable to judicial proceedings. The private judge shall oversee discovery and may enforce all discovery rules and orders
applicable to judicial proceedings in the same manner as a trial court judge. The parties agree that the selected or appointed private judge shall have the power to decide all issues in the action or proceeding, whether of fact or of law, and shall
report a statement of decision thereon pursuant to California Code of Civil Procedure § 644(a). Nothing in this paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose against collateral, or obtain
provisional remedies. The private judge shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph. 
  

	 	12.	 GENERAL PROVISIONS 

12.1 Successors and Assigns. This Agreement shall bind and inure to the benefit of the respective successors and permitted assigns of
each of the parties and shall bind all persons who become bound as a debtor to this Agreement; provided, however, that neither this Agreement nor any rights hereunder may be assigned by either Borrower without Bank’s prior written consent,
which consent may be granted or withheld in Bank’s sole discretion. Unless an Event of Default has occurred and is continuing, Bank may not without the consent of Borrowers sell, transfer, negotiate, or grant participation in all or any part
of, or any interest in, Bank’s obligations, rights and benefits hereunder, such consents not to be unreasonably withheld. 

  
 18 

 12.2 Indemnification. Borrowers shall defend, indemnify and hold harmless Bank and
its officers, employees, and agents against: (a) all obligations, demands, claims, and liabilities claimed or asserted by any other party in connection with the transactions contemplated by this Agreement and/or the Loan Documents; and
(b) all losses or Bank Expenses in any way suffered, incurred, or paid by Bank, its officers, employees and agents as a result of or in any way arising out of, following, or consequential to transactions between Bank and any Borrower whether
under this Agreement, or otherwise (including without limitation reasonable attorneys’ fees and expenses), except for losses caused by Bank’s gross negligence or willful misconduct. No Borrower shall be liable hereunder for any indirect,
punitive, exemplary or consequential damages (including lost profits) unless they arise from claims asserted by third parties against the Bank. Neither party hereunder shall be liable to the other for any special, indirect, consequential or punitive
damages, or lost profits. 
 12.3 Time of Essence. Time is of the essence for the performance of all obligations set forth in this
Agreement. 
 12.4 Severability of Provisions. Each provision of this Agreement shall be severable from every other provision
of this Agreement for the purpose of determining the legal enforceability of any specific provision. 
 12.5 Amendments in Writing,
Integration. All amendments to or terminations of this Agreement or the other Loan Documents must be in writing signed by the parties. All prior agreements, understandings, representations, warranties, and negotiations between the parties hereto
with respect to the subject matter of this Agreement and the other Loan Documents, if any, are merged into this Agreement and the Loan Documents. 

12.6 Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each
of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. 

12.7 Survival. All covenants, representations and warranties made in this Agreement shall continue in full force and effect so long as
any Obligations remain outstanding or Bank has any obligation to make any Credit Extension to any Borrower. The obligations of Borrowers to indemnify Bank with respect to the expenses, damages, losses, costs and liabilities described in
Section 12.2 shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Bank have run. 

12.8 Confidentiality. In handling any confidential information, Bank and all employees and agents of Bank shall exercise the same degree
of care that Bank exercises with respect to its own proprietary information of the same types to maintain the confidentiality of any non-public information thereby received or received pursuant to this
Agreement except that disclosure of such information may be made (i) to the subsidiaries or Affiliates of Bank in connection with their present or prospective business relations with Borrower, (ii) to prospective transferees or purchasers
of any interest in the Loans, (iii) as required by law, regulations, rule or order, subpoena, judicial order or similar order, (iv) as may be required in connection with the examination, audit or similar investigation of Bank, (v) to
Bank’s accountants, auditors and regulators, and (vi) as Bank may determine in connection with the enforcement of any remedies hereunder. Confidential information hereunder shall not include information that either: (a) is in the
public domain or in the knowledge or possession of Bank when disclosed to Bank, or becomes part of the public domain after disclosure to Bank through no fault of Bank; or (b) is disclosed to Bank by a third party, provided Bank does not have
actual knowledge that such third party is prohibited from disclosing such information. 

  
 19 

 12.9 Compliance with Anti-Terrorism Laws.
Bank notifies each Borrower and each of its Subsidiaries that pursuant to the requirements of Anti-Terrorism Laws, and Bank’s policies and practices, Bank is required to obtain, verify and record
certain information and documentation that identifies each Borrower and each of its Subsidiaries and their principals, which information includes the name and address of such Borrower and each of its Subsidiaries and their principals and such other
information that will allow Bank to identify such party in accordance with Anti-Terrorism Laws. No Borrower nor any of its Subsidiaries shall, nor shall any Borrower or any of its Subsidiaries permit any
Affiliate to, directly or indirectly, knowingly enter into any documents, instruments, agreements or contracts with any Person listed on the OFAC Lists. A Borrower and each of its Subsidiaries shall immediately notify Bank if such Borrower or such
Subsidiary has knowledge that such Borrower, or any Subsidiary or Affiliate of such Borrower, is listed on the OFAC Lists or (a) is convicted on, (b) pleads nolo contendere to, (c) is indicted on, or (d) is arraigned and
held over on charges involving money laundering or predicate crimes to money laundering. No Borrower or any of its Subsidiaries shall, nor shall a Borrower or any of its Subsidiaries, permit any Affiliate to, directly or indirectly, (i) conduct
any business or engage in any transaction or dealing with any Blocked Person, including, without limitation, the making or receiving of any contribution of funds, goods or services to or for the benefit of any Blocked Person, (ii) deal in, or
otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to Executive Order No. 13224 or any similar executive order or other Anti-Terrorism Law, or
(iii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in Executive Order No. 13224 or other Anti-Terrorism Law. 
 13. BORROWER LIABILITY. Either Borrower may, acting singly, request
advances hereunder. Each Borrower appoints the other as agent for the other for all purposes hereunder, including with respect to requesting advances hereunder. Each Borrower shall be jointly and severally obligated to repay all advances made
hereunder, regardless of which Borrower actually receives said advance, as if each Borrower hereunder directly received all advances. Each Borrower waives (a) any suretyship defenses available to it under the code or any other applicable law,
including, without limitation, the benefit of California Civil Code section 2815 permitting revocation as to future transactions and the benefit of California Civil Code sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850, and 2899
and 3433, and (b) any right to require Bank to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Bank may exercise or not exercise any right or
remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other
provision of this agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Bank under this agreement) to seek
contribution, indemnification or any other form of reimbursement from any other Borrower, or any other person now or hereafter primarily or secondarily liable for any of the obligations, for any payment made by Borrower with respect to the
obligations in connection with this agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the obligations as a result of any payment made by Borrower with respect to the obligations in
connection with this agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this section shall be null and void. If any payment is made to a Borrower in contravention of this
section, such Borrower shall hold such payment in trust for Bank and such payment shall be promptly delivered to Bank for application to the obligations, whether matured or unmatured. 

[Remainder of Page Intentionally Left Blank] 

  
 20 

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

									
				
	BORROWERS	  		  		 	
			
	TAIWAN LIPOSOME COMPANY, LTD.	  	            	  	 TLC BIOPHARMACEUTICALS, INC.

									
					
	By:	 	
                     
    
	  	            	  	By:	 	
                     
    

	Name: Keelung Hong	  	            	  	Name: Keelung Hong
	Title: Chairman	  	            	  	Title: Chief Executive Officer

									
				
	BANK	  		  		 	
				
	CATHAY BANK	  		  		 	
					
	By:	 	
                 
	  		  		 	
	Name: Yu-Fu Lin	  		  		 	
	Title: Relationship Manager & First Vice President	 	

 [Signature Page to Loan and Security Agreement] 

					
			
	DEBTOR	  		  	TLC BIOPHARMACEUTICALS, INC. (“TLC”) and
		  		  	TAIWAN LIPOSOME COMPANY, LTD. (“Parent”)
			
	SECURED PARTY:	  		  	CATHAY BANK

 EXHIBIT A 

COLLATERAL DESCRIPTION ATTACHMENT TO LOAN AND SECURITY AGREEMENT 

All personal property of TLC and Parent whether presently existing or hereafter created or acquired, and wherever located, including, but not
limited to: 
 (a) all accounts (including health-care-insurance receivables), chattel paper (including tangible and electronic chattel
paper), deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), general intangibles (including payment intangibles and software), goods (including fixtures), instruments (including
promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of service, and including returns and repossessions), investment property (including securities and securities entitlements), letter of
credit rights, money, all other personal property and all of TLC’s and Parent’s books and records with respect to any of the foregoing, and the computers and equipment containing said books and records; and (b) any and all cash
proceeds and/or noncash proceeds thereof, including, without limitation, insurance proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the California
Uniform Commercial Code, as amended or supplemented from time to time. 
 Notwithstanding the foregoing, the Collateral shall not include
any copyrights, patents, trademarks, servicemarks and applications therefor, technology, trade secret, know-how, information and proprietary rights and processes, now owned or hereafter acquired, or any claims
for damages by way of any past, present and future infringement of any of the foregoing (collectively, the “Intellectual Property”); provided, however, that the Collateral shall include all accounts and general intangibles that
consist of rights to payment from the sale, licensing or disposition of all or any part of, or rights in, the Intellectual Property (the “Rights to Payment”). Notwithstanding the foregoing, if a judicial authority (including a U.S.
Bankruptcy Court) holds that a security interest in the underlying Intellectual Property is necessary to have a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as of December 27, 2018, include
the Intellectual Property to the extent necessary to permit perfection of Bank’s security interest in the Rights to Payment. 

 EXHIBIT B 

[Provided separately.] 

 Exhibit C 

PROMISSORY NOTE 
 (Term
Loan) 
  

			
	$12,000,000	  	Dated: June 18, 2020

 FOR VALUE RECEIVED, the undersigned, TAIWAN LIPOSOME COMPANY, LTD., a Taiwan registered company
(“Parent”), and TLC BIOPHARMACEUTICALS, INC., a Delaware corporation (“TLC,” and together with Parent, each a “Borrower” and collectively, “Borrowers”) PROMISE TO PAY to the order
of CATHAY BANK (“Bank”) the principal amount of TWELVE MILLION DOLLARS ($12,000,000.00) or such lesser amount as shall equal the outstanding principal balance of the Advances made to Borrowers by Bank, plus interest on the aggregate
unpaid principal amount of such Advances, at the rates and in accordance with the terms of the Loan and Security Agreement dated December 27, 2018, among Borrowers and Bank (as amended, restated, supplemented or otherwise modified from time to
time, the “Loan Agreement”). If not sooner paid, the entire principal amount and all accrued and unpaid interest hereunder shall be due and payable on the Maturity Date as set forth in the Loan Agreement. Any capitalized term not
otherwise defined herein shall have the meaning attributed to such term in the Loan Agreement. 
 Principal, interest, and all other amounts due with
respect to the Advances, are payable in lawful money of the United States of America to Bank as set forth in the Loan Agreement and this Promissory Note (this “Note”). 

This Note may not be prepaid except as set forth in the Loan Agreement. 

This Note and the obligation of Borrowers to repay the unpaid principal amount of the Advances, interest thereon, all other amounts due Lender under the Loan
Agreement are secured under the Loan Agreement. 
 Borrowers waive presentment for payment, demand, notice of protest and all other demands and notices of
any kind in connection with the execution, delivery, performance and enforcement of this Note. 
 Borrowers shall pay all fees and expenses payable pursuant
to the Loan Agreement, including, without limitation, reasonable attorneys’ fees and costs, incurred by Bank in the enforcement or attempt to enforce any of Borrowers’ obligations hereunder not performed when due. 

This Note shall be governed by, and construed and interpreted in accordance with, the internal laws of the State of California. 

The ownership of an interest in this Note shall be registered on a record of ownership maintained by Bank or its agent. Notwithstanding anything else in this
Note to the contrary, the right to the principal of, and stated interest on, this Note may be transferred only if the transfer is registered on such record of ownership and the transferee is identified as the owner of an interest in the obligation.
Borrowers shall be entitled to treat the registered holder of this Note (as recorded on such record of ownership) as the owner in fact thereof for all purposes and shall not be bound to recognize any equitable or other claim to or interest in this
Note on the part of any other person or entity. 
 [Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, each Borrower has caused this Note to be duly executed
by one of its officers thereunto duly authorized on the date hereof. 
  

											
	BORROWER:	  		  	BORROWER:	  	
				
	TAIWAN LIPOSOME COMPANY, LTD.	  		  	TLC BIOPHARMACEUTICAL, INC.	  	

											
						
	By:	 	
                     
    
	  		  	By:	  	
                     
        
	  	
	Name: Keelung Hong	  		  	Name: Keelung Hong	  	
	Title: Chairman	  		  	Title:    Chief Executive Officer	  	

 (Seal) 

 EXHIBIT D 

COMPLIANCE CERTIFICATE 
 To: Cathay Bank

 Email: ________________ 
 FROM: Taiwan Liposome Company,
Ltd. and TLC Biopharmaceuticals, Inc. (collectively, “Borrower”) 
 The undersigned authorized Officer of a Borrower certifies that in accordance
with the terms and conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in compliance for the period ending with all provisions of the Agreement, except as noted below and
(ii) all representations and warranties of Borrower stated in the Agreement are true and correct in all material respects as of the date hereof. The Officer further certifies that these are prepared in accordance with IFRS or TIFRS, as
applicable, and are consistently applied from one period to the next except as explained in an accompanying letter or footnotes. 
 Please indicate
compliance status by circling Yes/No under “Complies” or “Applicable” column. 
  

									
				
	 	 	 REPORTING COVENANTS
	  	 REQUIRED
	  	 COMPLIES

	 	Company Prepared Quarterly F/S	  	Quarterly, within 45 days after end of 3/31, 6/30, and 9/30	  	YES	  	NO
	 	Compliance Certificate	  	Quarterly, within 45 days after end of 3/31, 6/30, and 9/30	  	YES	  	NO
	 	CPA Audited, Unqualified F/S	  	Annually, within 120 days of FYE	  	YES	  	NO

  

													
	 	 	 FINANCIAL COVENANTS
	  	REQUIRED	 	  	ACTUAL	  	 COMPLIES

	 	Beginning on the Second Amendment Date, and each quarter thereafter:	  	
	 	    Minimum Adjusted Quick Ratio (§6.7(a))	  	 	1.50:1:00	 	  	                          :1.00	  	YES	  	NO
	 	    Minimum Adjusted Tangible Net Worth (§6.7(b))	  	 	$12,000,000	 	  	$________________	  	YES	  	NO

 Please Enter Below Comments Regarding Violations: 
  

	
	Very truly yours,
	
	  

	Authorized Signer
	
	 Name:

	
	 Title:

 EXHIBIT E 

TAIWAN PROMISSORY NOTE 

本票 
 Date:
June 18, 2020 
 日期:西元 2020 年 6 月 18 日 

Place of Payment: Taipei, Taiwan 

付款地:中華民國台北市 

Amount: US$12,000,000 
 美金 12,000,000 

FOR VALUE RECEIVED, we hereby unconditionally and jointly and severally promise to pay to the order of CATHAY BANK on
                         (“Due Date”), in Taipei, Taiwan, U.S. Dollars Twelve Million (US$12,000,000) and
interest thereon from the Due Date to the date of actual payment hereon at the rate of                  percent
(            %) per annum, demand, protest and/or other notice of any kind being hereby expressly waived. This Promissory Note shall be governed by and construed and interpreted in
accordance with the laws of Taiwan (Republic of China). This Promissory Note is made pursuant to the Law of Negotiable Instruments of Taiwan (Republic of China). 

憑票准予西元______年______月______日(到期日),無條件於中華民國台北市支付CATHAY
 BANK美金12,000,000元整,暨到期日起至實際付款日以年利率______%計算之利息。發票人同意免除此票提示及作成拒絕證書之義務。此票以中華民國法律為準據法,並依中華民國票據法作成。
 
  

									
	 CO-MAKERS:
	  		  		  	
	 共同發票人:
	  		  		  	
		
	TAIWAN LIPOSOME COMPANY, LTD.	  	TLC BIOPHARMACEUTICAL, INC.
	 (台灣微脂體股份有限公司)
	  		  	

									
					
	By: 	  	 	  		  	             By: 	  	 

									
	Name: Keelung Hong	  		  	Name: Keelung Hong
	Title:    Chairman	  		  	Title: Chief Executive Officer

 EXHIBIT F 

TAIWAN PROMISSORY NOTE AUTHORIZATION 

Date: June 18, 2020 
 CATHAY BANK 

(the “Bank”) 
 Re: LOAN AND
SECURITY AGREEMENT dated as of December 27, 2018 
 among 

TAIWAN LIPOSOME COMPANY, LTD., TLC BIOPHARMACEUTICAL, INC. and Bank 

(the “Agreement”) 

Gentlemen: 
 With reference to the
Agreement, TAIWAN LIPOSOME COMPANY, LTD. and TLC BIOPHARMACEUTICAL, INC. (collectively, the “Debtors”), in accordance with the laws of Taiwan (Republic of China), have delivered and/or will deliver to Bank promissory note(s) duly co-issued by the Debtors (the “Taiwan Promissory Notes”) in favor of Bank as evidence of the obligations of the Debtors under the Agreement. 

Each of the Debtors agrees that, in addition to and not limited by the authorizations contained herein, Bank shall have the right to treat the
Taiwan Promissory Notes and any promissory notes hereafter delivered to Bank in replacement thereof or substitution therefor (“Subsequent Notes”) in all respects, including but not limited to presentation for payment, in the manner
contemplated by the Agreement. 
 Each of the Debtors hereby irrevocably and specifically authorizes and empowers Bank and any of its agents
or employees, with full rights of substitution, in Bank’s sole discretion and at any time after the occurrence of an Event of Default under and as defined in the Agreement, to complete the Taiwan Promissory Notes and/or any Subsequent Notes, as
applicable, by inserting therein the due date, the date from which interest thereon is to accrue and the interest rate all in accordance with the terms of the Agreement and any other items required to make the Taiwan Promissory Notes and/or any
Subsequent Notes, as applicable, valid and enforceable under the Law of Negotiable Instruments of Taiwan (Republic of China). 
 Each of the
Debtors acknowledges and agrees that any action taken by Bank pursuant to this authorization and the terms of the Agreement shall be binding, final and conclusive on the Debtors absent manifest error. 

This authorization is governed by the laws of Taiwan (Republic of China), is irrevocable and may not be limited in any manner whatsoever save
as expressly provided herein and the Agreement. This authorization shall expire on the date that all sums owing or which shall become owing under the Agreement have been fully paid. 

 

									
	DEBTORS (CO-MAKERS):	 		  	
			
	TAIWAN LIPOSOME COMPANY, LTD.	 		  	TLC BIOPHARMACEUTICAL, INC.
					
	By:	 	          
	 		  	By:	  	
                     
                

	Name: Keelung Hong	 		  	Name: Keelung Hong
	Title:    Chairman	 		  	Title: Chief Executive Officer

 SCHEDULE OF EXCEPTIONS 

Permitted Indebtedness (Exhibit A) 
 Permitted
Investments (Exhibit A) 
 Permitted Liens (Exhibit A) 

Prior Names (Section 5.5) 
 None 

Litigation (Section 5.6) 
 None 

Inbound Licenses (Section 5.12) 

 CORPORATE BORROWING CERTIFICATE 

 

							
	 BORROWER:
	  	 TLC Biopharmaceuticals, Inc. (“Borrower”)
	  	 DATE: June 18, 2020

	 BANK:
	  	 Cathay Bank
	  		  	

 I hereby certify as follows, as of the date set forth above: 

1. I am the Secretary, Assistant Secretary or other officer of the Borrower. My title is as set forth below. 

2. Borrower’s legal name is set forth above. Borrower is a corporation existing under the laws of the State of Delaware. 

3. Borrower previously delivered to Bank true, correct and complete copies of Borrower’s Certificate of Incorporation (including amendments), as filed
with the Secretary of State of Delaware. Such Certificate of Incorporation has not been amended, annulled, rescinded, revoked or supplemented since the Closing Date, and remains in full force and effect as of the date hereof. 

4. The attached resolutions were duly and validly adopted by Borrower’s Board of Directors at a duly held meeting of such directors (or pursuant to a
unanimous written consent or other authorized corporate action). Such resolutions are in full force and effect as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and Bank may rely on them until Bank
receives written notice of revocation from Borrower. 
  

							
	 Name
	  	 Title
	  	 Signature
	  	 Authorized
to Add
or
Remove
Signatories

	 Keelung Hong
	  	 Chief Executive Officer
	  	 	  	☐
				
	 George Yeh
	  	 Chief Financial Officer
	  	 	  	☐

 5. The persons listed above are Borrower’s officers or employees with their titles and signatures shown next to their
names. 
  

			
	 TLC Biopharmaceuticals,
Inc.

 
			
		
	 By:
	 	 

 
			
	 Name: Keelung Hong

	 Title: Chief Executive Officer

  

	***	 If the Secretary, Assistant Secretary or other certifying officer executing above is designated by the
resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower. 

I, the Secretary of Borrower, hereby certify as to paragraphs 1 through 5 above, as of the date set forth above. 

[print title] 
  

			
		
	 By:
	 	 

 
			
	 Name: Wenyeh Liao

	 Title: Secretary

 CORPORATE BORROWING CERTIFICATE 

 

					
	 BORROWER:
	  	Taiwan Liposome Company, Ltd.	  	 DATE: June 18, 2020

	 BANK:
	  	 Cathay Bank
	  	

 I hereby certify as follows, as of the date set forth above: 

1. I am the Secretary, Assistant Secretary or other officer of the Borrower. My title is as set forth below. 

2. Borrower’s legal name is set forth above. Borrower is a registered company existing under the laws of Taiwan. 

3. Borrower previously delivered to Bank true, correct and complete copies of Borrower’s Articles of Incorporation (including amendments) in effect as of
the date of this certificate. Such Articles of Incorporation have not been amended, annulled, rescinded, revoked or supplemented since the Closing Date, and remain in full force and effect as of the date hereof. 

4. The attached resolutions were duly and validly adopted by Borrower’s Board of Directors at a duly held meeting of such directors. Such resolutions are
in full force and effect as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and Bank may rely on them until Bank receives written notice of revocation from Borrower. 

 

							
	 Name
	  	 Title
	  	 Signature
	  	 Authorized
to Add or
Remove
Signatories

	Keelung Hong	  	Chairman	  	  
	  	☐
				
	Chih-Heng Yeh	  	President	  	  
	  	☐

 5. The persons listed above are Borrower’s officers or employees with their titles and signatures shown next to their
names. 
  

			
	 TAIWAN LIPOSOME COMPANY,
LTD.

 
			
		
	 By:
	 	 

 
			
	 Name: Keelung Hong

	 Title: Chairman

  

	***	 If the Secretary, Assistant Secretary or other certifying officer executing above is designated by the
resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower. 

I, the President of Borrower, hereby certify as to paragraphs 1 through 5 above, as of the date set forth above. 

[print title] 
  

			
	 By:
	 	 

 
			
	 Name: Chih-Heng Yeh

	 Title: President

					
	DEBTOR	  	TLC BIOPHARMACEUTICALS, INC. and
		  	TAIWAN LIPOSOME COMPANY, LTD.
			
	SECURED PARTY:	  	CATHAY BANK	  	

 EXHIBIT A to UCC Financing Statement 

COLLATERAL DESCRIPTION ATTACHMENT TO UCC NATIONAL FINANCING FORM 

All personal property of Debtor whether presently existing or hereafter created or acquired, and wherever located, including, but not limited to: 

(a) all accounts (including health-care-insurance receivables), chattel paper (including tangible and electronic chattel paper), deposit
accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), general intangibles (including payment intangibles and software), goods (including fixtures), instruments (including promissory notes),
inventory (including all goods held for sale or lease or to be furnished under a contract of service, and including returns and repossessions), investment property (including securities and securities entitlements), letter of credit rights, money,
all other personal property and all of Debtor’s books and records with respect to any of the foregoing, and the computers and equipment containing said books and records; and (b) any and all cash proceeds and/or noncash proceeds thereof,
including, without limitation, insurance proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the California Uniform Commercial Code, as amended or
supplemented from time to time. 
 Notwithstanding the foregoing, the Collateral shall not include any copyrights, patents, trademarks, servicemarks and
applications therefor, technology, trade secret, know-how, information and proprietary rights and processes, now owned or hereafter acquired, or any claims for damages by way of any past, present and future
infringement of any of the foregoing (collectively, the “Intellectual Property”); provided, however, that the Collateral shall include all accounts and general intangibles that consist of rights to payment from the sale, licensing
or disposition of all or any part of, or rights in, the Intellectual Property (the “Rights to Payment”). Notwithstanding the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in
the underlying Intellectual Property is necessary to have a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as of December 27, 2018, include the Intellectual Property to the extent necessary to
permit perfection of Bank’s security interest in the Rights to Payment.EX-4.1

 Exhibit 4.1 
  

 
  

AMDOCS LIMITED 

INDENTURE 
 Dated as of
June 24, 2020 
 THE BANK OF NEW YORK MELLON 

Trustee 
  

 
  

 TABLE OF CONTENTS 

 
  

 

					
	 	  	PAGE	 
	ARTICLE 1	  

	DEFINITIONS AND INCORPORATION BY REFERENCE	  

		
	 Section 1.01. Definitions
	  	 	1	 
	 Section 1.02. Other Definitions
	  	 	5	 
	 Section 1.03. Incorporation by Reference of Trust Indenture Act
	  	 	6	 
	 Section 1.04. Rules of Construction
	  	 	6	 
	
	ARTICLE 2	  

	THE SECURITIES	  

		
	 Section 2.01. Issuable in Series
	  	 	7	 
	 Section 2.02. Establishment of Form and Terms of Series of Securities
	  	 	7	 
	 Section 2.03. Execution and Authentication
	  	 	10	 
	 Section 2.04. Registrar and Paying Agent
	  	 	11	 
	 Section 2.05. Paying Agent to Hold Money in Trust
	  	 	12	 
	 Section 2.06. Securityholder Lists
	  	 	12	 
	 Section 2.07. Transfer and Exchange
	  	 	12	 
	 Section 2.08. Mutilated, Destroyed, Lost and Stolen Securities
	  	 	13	 
	 Section 2.09. Outstanding Securities
	  	 	14	 
	 Section 2.10. Treasury Securities
	  	 	14	 
	 Section 2.11. Temporary Securities
	  	 	14	 
	 Section 2.12. Cancellation
	  	 	15	 
	 Section 2.13. Payment of Interest; Computation of Interest
	  	 	15	 
	 Section 2.14. Defaulted Interest
	  	 	15	 
	 Section 2.15. Global Securities
	  	 	15	 
	 Section 2.16. Persons Deemed Owners
	  	 	17	 
	 Section 2.17. CUSIP and ISIN Numbers
	  	 	17	 
	
	ARTICLE 3	  

	REDEMPTION	  

		
	 Section 3.01. Applicability of Article
	  	 	18	 
	 Section 3.02. Notice to Trustee
	  	 	18	 
	 Section 3.03. Selection of Securities to be Redeemed
	  	 	18	 
	 Section 3.04. Notice of Redemption
	  	 	18	 
	 Section 3.05. Effect of Notice of Redemption
	  	 	19	 
	 Section 3.06. Deposit of Redemption Price
	  	 	20	 
	 Section 3.07. Securities Redeemed in Part
	  	 	20	 

  
 i 

					
	
	ARTICLE 4	  

	COVENANTS	  

		
	 Section 4.01. Payment of Principal and Interest
	  	 	20	 
	 Section 4.02. SEC Reports
	  	 	20	 
	 Section 4.03. Compliance Certificate
	  	 	21	 
	 Section 4.04. Stay, Extension and Usury Laws
	  	 	21	 
	 Section 4.05. Existence
	  	 	21	 
	
	ARTICLE 5	  

	SUCCESSORS	  

		
	 Section 5.01. When Company May Merge, Etc
	  	 	22	 
	 Section 5.02. Successor Person Substituted
	  	 	22	 
	
	ARTICLE 6	  

	DEFAULTS AND REMEDIES	  

		
	 Section 6.01. Events of Default
	  	 	23	 
	 Section 6.02. Acceleration of Maturity; Rescission and Annulment
	  	 	24	 
	 Section 6.03. Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	25	 
	 Section 6.04. Trustee May File Proofs of Claim
	  	 	26	 
	 Section 6.05. Trustee May Enforce Claims Without Possession of Securities
	  	 	27	 
	 Section 6.06. Application of Money Collected
	  	 	27	 
	 Section 6.07. Limitation on Suits
	  	 	27	 
	 Section 6.08. Unconditional Right of Holders to Receive Principal and
Interest
	  	 	28	 
	 Section 6.09. Restoration of Rights and Remedies
	  	 	28	 
	 Section 6.10. Rights and Remedies Cumulative
	  	 	28	 
	 Section 6.11. Delay or Omission Not Waiver
	  	 	28	 
	 Section 6.12. Control by Holders
	  	 	29	 
	 Section 6.13. Waiver of Past Defaults
	  	 	29	 
	 Section 6.14. Undertaking for Costs
	  	 	29	 
	
	ARTICLE 7	  

	TRUSTEE	  

		
	 Section 7.01. Duties of Trustee
	  	 	30	 
	 Section 7.02. Rights of Trustee
	  	 	31	 
	 Section 7.03. Individual Rights of Trustee
	  	 	33	 
	 Section 7.04. Trustee’s Disclaimer
	  	 	33	 
	 Section 7.05. Notice of Defaults
	  	 	33	 
	 Section 7.06. Reports by Trustee to Holders
	  	 	33	 
	 Section 7.07. Compensation and Indemnity
	  	 	33	 
	 Section 7.08. Replacement of Trustee
	  	 	35	 
	 Section 7.09. Successor Trustee by Merger, Etc
	  	 	36	 
	 Section 7.10. Eligibility; Disqualification
	  	 	36	 
	 Section 7.11. Preferential Collection of Claims Against Company
	  	 	36	 

  
 ii 

					
	
	ARTICLE 8	  

	SATISFACTION AND DISCHARGE; DEFEASANCE	  

		
	 Section 8.01. Satisfaction and Discharge of Indenture
	  	 	36	 
	 Section 8.02. Application of Trust Funds; Indemnification
	  	 	37	 
	 Section 8.03. Legal Defeasance of Securities of any Series
	  	 	38	 
	 Section 8.04. Covenant Defeasance
	  	 	40	 
	 Section 8.05. Repayment to Company
	  	 	41	 
	 Section 8.06. Reinstatement
	  	 	41	 
	 Section 8.07. Release of Other Obligations
	  	 	42	 
	ARTICLE 9	  

	AMENDMENTS AND WAIVERS	  

		
	 Section 9.01. Without Consent of Holders
	  	 	42	 
	 Section 9.02. With Consent of Holders
	  	 	44	 
	 Section 9.03. Limitations
	  	 	44	 
	 Section 9.04. Compliance with Trust Indenture Act
	  	 	45	 
	 Section 9.05. Revocation and Effect of Consents
	  	 	46	 
	 Section 9.06. Notation on or Exchange of Securities
	  	 	46	 
	 Section 9.07. Trustee Protected
	  	 	46	 
	ARTICLE 10	  

	MISCELLANEOUS	  

		
	 Section 10.01. Trust Indenture Act Controls
	  	 	46	 
	 Section 10.02. Notices
	  	 	47	 
	 Section 10.03. Communication by Holders with Other Holders
	  	 	48	 
	 Section 10.04. Certificate and Opinion as to Conditions Precedent
	  	 	48	 
	 Section 10.05. Statements Required in Certificate or Opinion
	  	 	48	 
	 Section 10.06. Rules by Trustee and Agents
	  	 	48	 
	 Section 10.07. Legal Holidays
	  	 	49	 
	 Section 10.08. No Recourse Against Others
	  	 	49	 
	 Section 10.09. Counterparts
	  	 	49	 
	 Section 10.10. Governing Law; Waiver of Jury Trial; Submission to Jurisdiction; Waiver of
Immunity
	  	 	49	 
	 Section 10.11. Appointment of Agent for Service
	  	 	50	 
	 Section 10.12. Judgment Currency
	  	 	50	 
	 Section 10.13. No Adverse Interpretation of Other Agreements
	  	 	51	 
	 Section 10.14. Successors
	  	 	51	 
	 Section 10.15. Severability
	  	 	51	 
	 Section 10.16. Table of Contents, Headings, Etc
	  	 	51	 
	 Section 10.17. Securities in a Composite Currency, Currency Unit or Foreign
Currency
	  	 	51	 
	 Section 10.18. Force Majeure
	  	 	52	 
	 Section 10.19. U.S.A. Patriot Act
	  	 	52	 
	 Section 10.20. Withholdings and Deductions
	  	 	52	 

  
 iii 

 Amdocs Limited 

Reconciliation and tie between Trust Indenture Act of 1939 and 

Indenture dated as of June 24, 2020 
  

			
	 TIA Provision
	  	 Indenture

Section

	 § 310(a)(1)
	  	7.10
	 (a)(2)
	  	7.10
	 (a)(3)
	  	Not Applicable
	 (a)(4)
	  	Not Applicable
	 (a)(5)
	  	7.10
	 (b)
	  	7.10
	 § 311(a)
	  	7.11
	 (b)
	  	7.11
	 § 312(a)
	  	2.06
	 (b)
	  	10.03
	 (c)
	  	10.03
	 § 313(a)
	  	7.06
	 (b)(1)
	  	7.06
	 (b)(2)
	  	7.06
	 (c)(1)
	  	7.06
	 (d)
	  	7.06
	 § 314(a)
	  	4.02, 10.05
	 (b)
	  	Not Applicable
	 (c)(1)
	  	10.04
	 (c)(2)
	  	10.04
	 (c)(3)
	  	Not Applicable
	 (d)
	  	Not Applicable
	 (e)
	  	10.05
	 (f)
	  	Not Applicable
	 § 315(a)
	  	7.01
	 (b)
	  	7.05
	 (c)
	  	7.01
	 (d)
	  	7.01
	 (e)
	  	6.14
	 § 316(a)
	  	2.10
	 (a)(1)(A)
	  	6.12
	 (a)(1)(B)
	  	6.13
	 (b)
	  	6.08
	 § 317(a)(1)
	  	6.03
	 (a)(2)
	  	6.04
	 (b)
	  	2.05
	 § 318(a)
	  	10.01

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

  
 iv 

 Indenture dated as of June 24, 2020 between Amdocs Limited, a non-cellular company incorporated in Guernsey (registration number 19528) (the “Company”), and The Bank of New York Mellon, a corporation organized under the laws of the State of New York authorized
to conduct a banking business, as Trustee (the “Trustee”). 
 Each party agrees as follows for the benefit of the other
party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture. 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions. The following terms have the meanings assigned below unless provided otherwise in respect of any Series
of Securities pursuant to a Board Resolution and an Officers’ Certificate or a supplemental indenture. 
 “Affiliate”
of any specified person means any other person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified person. For the purposes of this definition, “control” (including, with
correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of such person, whether through the ownership of voting securities or by agreement or otherwise. 

“Agent” means any Registrar, Paying Agent, transfer agent or other agent appointed pursuant to this Indenture. 

“Board of Directors” means the board of directors of the Company or any duly authorized committee thereof. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Officer of the Company to have been adopted
by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee. 

“Business Day” means, with respect to any Series of Securities (except as otherwise provided pursuant to Section 2.02
with respect to such Series of Securities), any calendar day that is not a Saturday, Sunday or a day on which commercial banking institutions are not required to be open for business in The City of New York, New York. 

“Capital Stock” means, with respect to any person, any and all shares, interests, participations or other equivalents
(however designated) in the equity of such person. 
 “Company” means the party named as such in the preamble hereto until
a successor replaces it and thereafter means the successor. 
 “Company Order” means a written order signed in the name of
the Company by one Officer, who must be the Chairman of the Board of Directors, Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer, Chief Accounting 

 
Officer, Chief Legal Officer, General Counsel, any Executive Vice President, any Senior Vice President, any other Vice President (whether or not designated by a word or words added before or
after the title “Vice President”), General Counsel, Secretary, Assistant Secretary, Treasurer or any Assistant Treasurer of the Company. 

“Company Request” means a written request signed in the name of the Company by an Officer and delivered to the Trustee. 

“Corporate Trust Office” means the office or offices of the Trustee at which at any particular time its corporate trust
business shall be administered, which office at the date hereof is located at 240 Greenwich Street 7E, New York, New York 10286, or such other office as the Trustee may designate from time to time by notice to the Company. 

“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default. 

“Depositary” means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or
more Global Securities, the person designated as Depositary for such Series by the Company from time to time; and if at any time there is more than one such person, “Depositary” as used with respect to the Securities of any Series shall
mean the Depositary with respect to the Securities of such Series. 
 “Discount Security” means any Security that provides
for an amount less than the stated principal amount thereof to be due and payable upon acceleration of the maturity thereof pursuant to Section 6.02. 

“Dollars” and “$” means the currency of The United States of America. 

“Euros” and “€” means the single currency of participating member states of the economic and monetary
union as contemplated in the Treaty on European Union. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended, or any successor thereto, in each case as amended or supplemented from time to time. 
 “Foreign Currency” means
any currency, composite currency or currency unit issued by a government or governments other than the government of The United States of America including, without limitation, the Euro. 

“Foreign Government Obligations” means, with respect to Securities of any Series that are denominated in a Foreign Currency,
(a) direct obligations of the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged or (b) obligations of a person controlled or supervised by or acting as an
agency or instrumentality of such government the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by such government, which, in either case under clauses (a) or (b), are not callable or redeemable at
the option of the issuer thereof, and shall also include a depositary receipt issued by a bank or trust company as custodian with respect to any such Foreign 

  
 2 

 
Government Obligation or a specific payment of interest on or principal of or other amount payable with respect to any such Foreign Government Obligation held by such custodian for the account of
the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in
respect of the Foreign Government Obligation or the specific payment of interest on or principal of or other amount payable with respect to the Foreign Government Obligation evidenced by such depository receipt. 

“GAAP” means accounting principles generally accepted in the United States of America, as in effect from time to time. 

“Global Security” or “Global Securities” means a Security or Securities, as the case may be, in global form
evidencing all or part of a Series of Securities and registered in the name of a Depositary or its nominee. 
 “Holder” or
“Securityholder” means any person in whose name a Security is registered. 
 “Indenture” means this
Indenture as amended or supplemented from time to time and shall include the form and terms of particular Series of Securities established as contemplated hereunder. 

“interest” means, with respect to any Discount Security which by its terms bears interest only after Maturity, any
installment of interest on such Security; and, when used with respect to any Security, shall be deemed to mean “interest, if any” on such Security unless otherwise expressly stated or the context otherwise requires. 

“Lien” means any mortgage, security interest, pledge, lien, charge or other similar encumbrance. 

“Maturity,” when used with respect to any Security, means any date on which the principal of such Security or an installment
of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Officer” means the Chairman of the Board of Directors, Chief Executive Officer, President, Chief Operating Officer, Chief
Financial Officer, Chief Accounting Officer, Chief Legal Officer, General Counsel, any Executive Vice President, any Senior Vice President, any other Vice-President (whether or not designated by a word or words added before or after the title
“Vice President”), Treasurer, Controller, Secretary, any Assistant Treasurer, any Assistant Controller or any Assistant Secretary of the Company. 

“Officers’ Certificate” means a certificate signed by two Officers, one of whom must be the Chairman of the Board of
Directors, Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer, Chief Accounting Officer, Chief Legal Officer, General Counsel, any Executive Vice President, any Senior Vice President, any other Vice President
(whether or not designated by a word or words added before or after the title “Vice President”) or Treasurer of the Company. 

  
 3 

 “Opinion of Counsel” means a written opinion of legal counsel who is
acceptable to the Trustee, which opinion may be subject to customary exceptions, qualifications and limitations and, without limitation to the foregoing, may rely on certificates of officers of the Company or any of its subsidiaries or public
officials. The counsel may be an employee of or counsel to the Company. 
 “person” means any individual, corporation,
partnership, joint venture, association, limited liability company, joint-stock company, trust, unincorporated organization or any other entity, including any government or any agency or political subdivision thereof. 

“Physical Security” means a certificated Security which is not a Global Security. 

“principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on the Security.

 “Responsible Officer” means when used with respect to the Trustee, any officer within the corporate trust department of
the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the persons who at the
time shall be such officers, respectively, and who shall have direct responsibility for the administration of this Indenture. 

“SEC” means the U.S. Securities and Exchange Commission or any successor thereto. 

“Securities” means any bonds, debentures, notes or other debt instruments of the Company of any Series authenticated and
delivered under this Indenture. 
 “Series” or “Series of Securities” means any series of bonds,
debentures, notes or other debt instruments of the Company created pursuant to Section 2.02 hereof. 
 “State” means
any of the States of the United States of America. 
 “Stated Maturity” when used with respect to any Security or any
installment of principal thereof or interest thereon, means the date established by or pursuant to this Indenture or specified or determined as provided in such Security as the fixed date on which the principal of such Security or such installment
of principal or interest, as the case may be, is due and payable. 
 “Subsidiary” means, with respect to any
specified person and at any time, any corporation, partnership, limited liability company or other entity more than 50% of whose total Voting Stock then outstanding (measured by voting power rather than number of shares) is at such time owned (and,
in the case of a partnership, more than 

  
 4 

 
50% of whose total general partnership interests then outstanding is at such time owned), directly or indirectly, by such specified person and/or one or more other Subsidiaries of such specified
person and, in the case of an entity other than a corporation or a partnership, such specified person has the power to direct, directly or indirectly, the policies, management and affairs of such entity. 

“TIA” means the Trust Indenture Act of 1939, as amended, as in effect as of the date of this Indenture, except as provided in
Section 9.04. 
 “Trustee” means the person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each person who is then a Trustee hereunder, and if at any time there is more than one
such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series. 

“U.S. Government Obligations” means securities which are (a) direct obligations of The United States of America for the
payment of which its full faith and credit is pledged or (b) obligations of a person controlled or supervised by and acting as an agency or instrumentality of The United States of America the payment of which is unconditionally guaranteed as a
full faith and credit obligation by The United States of America, and which, in the case of clauses (a) and (b), are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or
trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of or other amount payable with respect to any such U.S. Government Obligation held by such custodian for the account of
the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in
respect of the U.S. Government Obligation or the specific payment of interest on or principal of or other amount payable with respect to the U.S. Government Obligation evidenced by such depository receipt. 

“Voting Stock” means, with respect to any person, any Capital Stock of such person that is normally entitled (without regard
to the occurrence of any contingency) to vote in the election of directors, managers or trustees (or other individuals performing similar functions), as applicable, of such person. 

Section 1.02. Other Definitions. 
  

			
	 Term
	  	Section
	 Authorized Agent
	  	10.11
	 Bankruptcy Law
	  	6.01
	 covenant defeasance
	  	8.04
	 Custodian
	  	6.01
	 EDGAR
	  	4.02
	 Event of Default
	  	6.01

  
 5 

			
	 Term
	  	Section
	 legal defeasance
	  	8.03
	 mandatory sinking fund payment
	  	11.1
	 Market Exchange Rate
	  	10.17
	 Paying Agent
	  	2.04
	 Registrar
	  	2.04
	 Specified Courts
	  	10.10
	 successor person
	  	5.01

 Section 1.03. Incorporation by Reference of Trust Indenture Act. Whenever this Indenture refers to
a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings: 

“Commission” means the SEC. 

“default” means an Event of Default. 

“indenture securities” means the Securities. 

“indenture security holder” means a Securityholder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” on the indenture securities means the Company and any successor obligor upon the Securities. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under
the TIA and not otherwise defined herein are used herein as so defined. 
 Section 1.04. Rules of Construction. Unless the
context otherwise requires: 
 (a) a term has the meaning assigned to it; 

(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(c) “or” is not exclusive; 

(d) words in the singular include the plural, and in the plural include the singular; 

(e) provisions apply to successive events and transactions; and 

  
 6 

 (f) unless otherwise provided in this Indenture or in any Security, the words
“execute,” “execution,” “signed” and “signature” and words of similar import used in or related to any document to be signed in connection with this Indenture, any Security or any of the transactions
contemplated hereby (including amendments, waivers, consents and other modifications) shall be deemed to include electronic signatures and the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature in ink or the use of a paper-based recordkeeping system, as applicable, to the fullest extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and
National Commerce Act, the New York State Electronic Signatures and Records Act and any other similar state laws based on the Uniform Electronic Transactions Act; provided that, notwithstanding anything herein to the contrary, the Trustee is not
under any obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Trustee pursuant to procedures approved by the Trustee. 

ARTICLE 2 
 THE
SECURITIES 
 Section 2.01. Issuable in Series. The aggregate principal amount of Securities that may be
authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series shall be identical except as may be set forth or determined pursuant to or in the manner provided in a
Board Resolution (or pursuant to authority granted under a Board Resolution) and Officers’ Certificate or supplemental indenture. In the case of Securities of a Series to be issued from time to time, the Board Resolution (or pursuant to
authority granted under a Board Resolution) and Officers’ Certificate or supplemental indenture may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are
to be determined. Securities may differ between Series, and Securities within any Series may differ from any or all other Securities of such Series, in respect of any matters, provided that, subject to any subordination provisions applicable
to the Securities of any Series pursuant to Section 2.02, all Series of Securities shall be equally and ratably entitled to the benefits of this Indenture. 

Section 2.02. Establishment of Form and Terms of Series of Securities. The Securities of each Series shall be in such form or
forms as may be set forth or determined pursuant to or in a manner provided in a Board Resolution (or pursuant to authority granted under a Board Resolution) and an Officers’ Certificate or supplemental indenture. At or prior to the issuance of
any Securities within a Series, the title of the Securities of such Series shall be established pursuant to Subsection (a), and the terms of such Securities shall be established, (either as to any Securities within the Series or as to the Series
generally) pursuant to Subsections (b) through (u), by or pursuant to a Board Resolution, and set forth or determined pursuant to or in the manner provided in a Board Resolution and an Officers’ Certificate or supplemental indenture, which
terms shall include, without limitation and to the extent applicable with respect to Securities of such Series, the following: 

  
 7 

 (a) the title of such Series (which shall distinguish such Securities of that particular
Series from the Securities of any other Series); 
 (b) any limit upon the aggregate principal amount of the Securities of such Series which
may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series pursuant to Section 2.07, 2.08, 2.11,
3.07 or 9.06 or, in the case of Securities of a Series that the Company may be required to repurchase at the option of the Holders thereof, Securities authenticated and delivered in exchange for other Securities of the same Series that were
repurchased in part); 
 (c) the date or dates on which the principal of the Securities of such Series is payable; 

(d) if applicable, the rate or rates (which may be fixed or variable) or, if applicable, the method used to determine such rate or rates
(including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of such Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date
or dates on which such interest, if any, shall be payable and any regular record date for the interest payable on any interest payment date; 

(e) the right, if any, to defer payment of interest and the length of any deferral period; 

(f) if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the Securities of
such Series may be redeemed, in whole or in part, at the option of the Company; 
 (g) if applicable, the obligation, if any, of the Company
to redeem or repurchase the Securities of such Series pursuant to any sinking fund or analogous provisions or at the option of the Holders thereof and the period or periods within which, the price or prices at which and the terms and conditions upon
which Securities of such Series shall be redeemed or repurchased, in whole or in part, pursuant to such obligation; 
 (h) if other than
minimum denominations of $2,000 in principal amount and any integral multiple of $1,000 in principal amount in excess thereof, the denominations in which the Securities of such Series shall be issuable; 

(i) whether any or all of the Securities of such Series are to be issued in the form of one or more Global Securities and, if so, the initial
Depositary with respect to such Global Securities; 
 (j) if other than the principal amount thereof, the portion of the principal amount of
the Securities of such Series that shall be payable upon acceleration of the maturity thereof pursuant to Section 6.02; 
 (k) if other
than Dollars, the currency of denomination of the Securities of such Series, which may be any Foreign Currency; 

  
 8 

 (l) if other than Dollars, the designation of the currency, currencies or currency units in
which payment of the principal of and interest, if any, on the Securities of such Series will be made; 
 (m) if payments of principal of or
interest, if any, on the Securities of such Series are to be made in one or more currencies, composite currencies or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect
to such payments will be determined; 
 (n) if applicable, the manner in which the amounts of payment of principal of and interest, if any,
on the Securities of such Series will be determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or other index; 

(o) the provisions, if any, relating to any security for or guarantees of the Securities of such Series; 

(p) any additions to, deletions of or changes in the Events of Default which apply to any Securities of such Series and any change in the right
of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.02 and any change in the circumstances under which the Securities of such Series shall become due and
payable automatically pursuant to Section 6.02; 
 (q) any additions to, deletions of or changes in the covenants which apply to
Securities of such Series; 
 (r) any other terms of the Securities of such Series (which may supplement, modify or delete any provision of
this Indenture insofar as it applies to such Series); 
 (s) if the Securities of such Series will be convertible into or exchangeable for
shares of common stock, preferred stock or other securities of the Company or any other person, the terms and conditions upon which such Securities will be so convertible or exchangeable, including, if applicable, the conversion or exchange price or
rate, how such price or rate will be calculated and may be adjusted, any mandatory or optional (at the Company’s option or at the option of the Holders thereof) conversion or exchange features, and the applicable conversion or exchange period;

 (t) if the Securities of such Series will not be senior Securities, whether the Securities of such Series will be senior subordinated,
subordinated or junior subordinated debt securities (or will have some other subordinated ranking) and, in that case, a description of the subordination terms thereof; and 

(u) if applicable, any interest rate calculation agents, exchange rate calculation agents or other agents with respect to the Securities of
such Series if the trustee, paying agent or registrar of that Series is other than the Trustee initially named in this Indenture or any successor thereto, the trustee, paying agent or registrar of that Series. 

  
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 All Securities of any one Series need not be issued at the same time and may be issued from
time to time, if so provided by or pursuant to a Board Resolution and Officers’ Certificate or supplemental indenture hereto referred to above. Unless otherwise provided in a Board Resolution and Officers’ Certificate or supplemental
indenture, a Series may be reopened, from time to time, without the consent of the Holders of such Series, to issue additional Securities of such Series, having the same ranking and the same interest rate, maturity and other terms as the Securities
of such Series, except for the public offering price, the issue date and, if applicable, the initial interest payment date and initial interest accrual date. Any such additional Securities, together with the initial Securities of such Series, shall
constitute a single Series of Securities under this Indenture; provided that if the additional Securities are not fungible for U.S. federal income tax purposes with the initial Securities of such Series, the additional Securities shall be issued
under a separate CUSIP, ISIN or other identifying number, as applicable. No additional Securities may be issued if an Event of Default has occurred and is continuing with respect to the Series of Securities of which such additional Securities would
be a part. 
 Section 2.03. Execution and Authentication. One Officer shall sign the Securities for the Company by manual,
facsimile or other electronic signature. 
 If an Officer whose signature is on a Security no longer holds that office at the time the
Security is authenticated, the Security shall nevertheless be valid. 
 A Security shall not be valid until authenticated by the manual,
facsimile or other electronic signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 

The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in (or in a
principal amount not to exceed the principal amount provided in) a Board Resolution and an Officers’ Certificate or supplemental indenture hereto, upon receipt by the Trustee of a Company Order. If all the Securities of any one Series are not
to be originally issued at one time and if a Board Resolution and an Officers’ Certificate or a supplemental indenture hereto shall so permit, such Company Order may set forth the procedures for the issuance and authentication of such
Securities. Each Security shall be dated the date of its authentication unless otherwise provided by a Board Resolution and an Officers’ Certificate or a supplemental indenture hereto. 

The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount
for such Series set forth in the Board Resolution and Officers’ Certificate or supplemental indenture hereto delivered pursuant to Section 2.02, except as provided in such Section 2.02 or Sections 2.08 and 2.09. 

  
 10 

 In addition to a Company Order, prior to the issuance of Securities of any Series, the
Trustee shall have received and (subject to Section 7.01), in authenticating such Securities, shall be fully protected in relying on: (a) the Board Resolution and Officers’ Certificate or supplemental indenture hereto establishing the
form of the Securities of that Series or of Securities within that Series and the terms of the Securities of that Series or of Securities within that Series, (b) an Officers’ Certificate complying with Section 10.04, and (c) an
Opinion of Counsel complying with Section 10.04. 
 Notwithstanding the provisions of Section 2.02 and the preceding paragraph, if
all the Securities of a Series are not to be originally issued at one time, it shall not be necessary to deliver the Board Resolution and Officers’ Certificate or supplemental indenture hereto pursuant to this Section 2.03 prior to the
issuance and authentication of each Security of such Series if such documents are delivered prior to the authentication upon original issuance of the first Securities of such Series to be issued and such documents provide for the issuance of all
Securities of such Series. 
 The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series:
(i) if the Trustee, being advised by counsel, determines that such action may not be taken lawfully; or (ii) if the Trustee in good faith by a Responsible Officer shall determine that such action would expose the Trustee to personal
liability to Holders of any then outstanding Series of Securities. The terms of the Securities as set forth in a Board Resolution and an Officers’ Certificate or supplemental indenture shall not adversely affect the rights, duties or
protections of the Trustee as set forth herein. 
 The Trustee may, appoint an authenticating agent acceptable to the Company to
authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by any such authenticating agent. An
authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of the Company. 
 Section 2.04.
Registrar and Paying Agent. As long as any of the Securities of a Series remain outstanding, the Company shall designate and maintain an office or agency in the continental United States where the Securities of that Series may be presented
for payment (“Paying Agent”), an office or agency where the Securities of that Series may be presented for registration of transfer and for exchange as in this Indenture provided (“Registrar”). The Company shall
give to the Trustee written notice of the location of each such office or agency and of any change of location thereof. In case the Company shall fail to maintain any such office or agency, or shall fail to give such notice of the location or of any
change in the location thereof, presentations and demands for payment and registration for transfers and exchanges may be made at the Corporate Trust Office of the Trustee. 

The Company hereby initially designates the office of the Trustee located at 240 Greenwich Street 7E, New York, New York 10286 as the office
or agency of the Company where the Securities of each Series may be presented for payment, for registration of transfer and for exchange as in this Indenture provided. 

  
 11 

 The Registrar shall keep a register with respect to each Series of Securities and to their
transfer and exchange. The term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional paying agent. 

The Company may change any Agent without any notice to any Holder. The Company or any of its Subsidiaries may act as Agent. 

Section 2.05. Paying Agent to Hold Money in Trust. The Company shall require each Paying Agent other than the Trustee to agree in
writing that the Paying Agent will hold in trust, for the benefit of Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on such Series of Securities, and will
notify the Trustee of any default by the Company in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to
pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money. If the Company or a Subsidiary of the Company acts
as Paying Agent, it shall segregate and hold in trust for the benefit of Securityholders of any Series of Securities all money held by it as Paying Agent. 

Section 2.06. Securityholder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Securityholders of each Series of Securities and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least ten days before
each interest payment date (or such later date as may be acceptable to the Trustee) and at such other times as the Trustee may reasonably request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names
and addresses of Securityholders of each Series of Securities. 
 Section 2.07. Transfer and Exchange. Where Securities of a
Series are presented to the Registrar with a request to register a transfer or to exchange them for an equal principal amount of Securities of the same Series of like tenor and terms, the Registrar shall register the transfer or make the exchange if
its requirements for such transactions are met, in accordance with this Indenture, and, if applicable, any Board Resolution and an Officers’ Certificate or supplemental indenture hereto. To permit registrations of transfers and exchanges, the
Trustee shall authenticate Securities upon Company Order. No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted in this Indenture, any Security or any Board Resolution and
Officers’ Certificate or supplemental indenture), but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith (other than any such tax or other governmental charge
payable upon exchanges pursuant to Sections 2.11, 3.07 or 9.06). 
 Neither the Company nor the Registrar shall be required (a) to
issue, register the transfer of, or exchange Securities of any Series during the period beginning at the opening of business fifteen days immediately preceding the sending of a notice of redemption of the Securities of that Series selected for
redemption and ending at the close 

  
 12 

 
of business on the day such notice is delivered, or (b) to register the transfer of or exchange Securities (or portions thereof) of any Series selected, called or being called for
redemption, or, if applicable, surrendered for repurchase by the Company at the option of the Holders, except any portion thereof not so selected, called, being called or surrendered. 

Section 2.08. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated Security is surrendered to the Trustee, the
Company shall execute and the Trustee upon receipt of a Company Order shall authenticate and deliver in exchange therefor a new Security of the same Series and of like tenor, terms and principal amount and bearing a number not contemporaneously
outstanding. 
 If there shall be delivered to the Company and the Trustee (a) evidence to their satisfaction of the destruction, loss
or theft of any Security and (b) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been
acquired by a bona fide purchaser, the Company shall execute and upon receipt of a Company Order, the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same
Series and of like tenor, terms and principal amount and bearing a number not contemporaneously outstanding. 
 In case any such mutilated,
destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 

Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee and its counsel) connected therewith. 

Every new Security of any Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an
original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately,
subject to any subordination provisions applicable to the Securities of any Series pursuant to Section 2.02, with any and all other Securities of that Series duly issued hereunder. 

To the extent lawful, the provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities. 

  
 13 

 Section 2.09. Outstanding Securities. Subject to Section 2.10, the
Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the principal amount of a Global Security recorded by the Trustee or
other custodian for such Global Security and those described in this Section as not outstanding. 
 If a destroyed, lost or stolen Security
is replaced pursuant to Section 2.08, it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser. 

If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of the Company) holds on the Maturity of Securities
of a Series money sufficient to pay the principal of and/or interest on such Securities payable on that date, then on and after that date such Securities cease to be outstanding and interest on them ceases to accrue. 

If any Security is converted into or exchanged for common stock or other securities as contemplated by this Indenture and the terms of such
Security, such Security ceases to be outstanding on the date of such conversion or exchange, as the case may be. 
 A Security does not
cease to be outstanding because the Company or an Affiliate of the Company holds the Security. 
 In determining whether the Holders of the
requisite aggregate principal amount of outstanding Securities or outstanding Securities of a Series have concurred in or given any request, demand, authorization, direction, notice, consent or waiver or taken any other action hereunder or in
respect of such Securities, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon
acceleration of the Maturity thereof pursuant to Section 6.02. 
 Section 2.10. Treasury Securities. In determining whether
the Holders of the requisite principal amount of outstanding Securities or outstanding Securities of a Series have concurred in or given any request, demand, authorization, direction, notice, consent or waiver or taken any other action hereunder or
in respect of such Securities, Securities owned by the Company or any Affiliate of the Company shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on any such request, demand,
authorization, direction, notice, consent, waiver or other action, only Securities that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. 

Section 2.11. Temporary Securities. Until definitive Securities are ready for delivery, the Company may prepare and the Trustee
shall authenticate temporary Securities upon receipt of a Company Order. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities.
Without unreasonable delay, the Company shall prepare and the Trustee upon receipt of a Company Order shall authenticate definitive Securities of the same Series, principal amount, tenor and terms in exchange for temporary Securities. Until so
exchanged, temporary Securities shall have the same rights under this Indenture as the definitive Securities. 

  
 14 

 Section 2.12. Cancellation. The Company at any time may deliver Securities to
the Trustee for cancellation. Each Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee shall cancel all Securities surrendered for transfer, exchange, payment,
replacement or cancellation (subject to any record retention requirement of the Exchange Act) and deliver a certificate of such cancellation to the Company upon its written request. The Company may not issue new Securities to replace Securities that
it has paid or delivered to the Trustee for cancellation. 
 Section 2.13. Payment of Interest; Computation of Interest. Except
as otherwise provided as contemplated by Section 2.02 with respect to any Series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any interest payment date for such Security shall be paid
to the person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest payment date. 

Except as otherwise specified as contemplated by Section 2.02 for Securities of any Series, interest on the Securities of each Series
shall be computed on the basis of a 360-day year of twelve 30-day months. 

Section 2.14. Defaulted Interest. If the Company defaults in a payment of interest on a Series of Securities, it shall pay the
defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted interest, to the persons who are Securityholders of the Series at the close of business on a subsequent special record date. The Company shall fix the
special record date and payment date. At least 10 days before the special record date, the Company shall give written notice to the Trustee and to each Securityholder of the Series of the special record date, the payment date and the amount of
interest to be paid. The Company may pay defaulted interest in any other lawful manner. 
 Section 2.15. Global Securities. 

(a) Terms of Securities. A Board Resolution and an Officers’ Certificate or a supplemental indenture hereto may establish whether
the Securities of a Series shall be issued in whole or in part in the form of one or more temporary or permanent Global Securities and the Depositary for such Global Security or Securities. 

(b) Transfer and Exchange. Unless otherwise specified pursuant to Section 2.02 with respect to the Securities of any Series, the
Global Securities of any Series shall be exchangeable pursuant to Section 2.07 of this Indenture for Physical Securities of such Series in an equal aggregate principal amount and of like tenor and terms registered in the names of Holders other
than the Depositary for such Global Securities or its nominee only if (i) the Company receives notice from such Depositary that it is unwilling or unable to continue as Depositary for the Global Securities of such Series or if such Depositary
ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depositary for the Global Securities of such Series registered as a clearing agency under the Exchange Act within 90 days

  
 15 

 
after the date the Company receives such notice or learns that such Depositary has ceased to be so registered, (ii) the Company, in its sole discretion, determines that the Global Securities
of such Series shall be exchanged (in whole but not in part) for Physical Securities of such Series and delivers to the Trustee an Officers’ Certificate to such effect, or (iii) an Event of Default with respect to the Securities of such
Series shall have occurred and shall be continuing and such beneficial owner requests that beneficial interests in the Global Securities be issued in the form of Physical Securities. Any Global Security of a Series that is exchangeable pursuant to
the preceding sentence shall be exchangeable for Physical Securities of the same Series registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security of such
Series being exchanged and with like tenor and terms. The Trustee, upon receipt of a Company Order, shall authenticate and make available for delivery, in exchange for a Global Security or any portion thereof being exchanged for Physical Securities,
a like aggregate principal amount of Physical Securities of the same Series of authorized denominations and of like tenor and terms as the Global Security or portion thereof to be exchanged, subject, however, to the provisions of the second
paragraph of Section 2.07 of this Indenture. Promptly following any such exchange in part, such Global Security shall, at the option of the Company, either be returned by the Trustee to such Depositary (or its custodian) and the Trustee shall
endorse such Global Security to reflect the decrease in the principal amount thereof resulting from such exchange or such Global Security shall be exchanged for another Global Security in a principal amount reflecting the decrease in such
principal amount resulting from such exchange. If a Physical Security is issued in exchange for any portion of a Global Security after the close of business on (A) any record date for such Security and before the opening of business on the next
interest payment date for such Security, or (B) any special record date for such Security and before the opening of business on the related proposed date for payment of interest or defaulted interest thereon, as the case may be, interest shall
not be payable on such interest payment date or proposed date for payment, as the case may be, in respect of such Physical Security, but shall be payable on such interest payment date or proposed date for payment, as the case may be, only to the
person to whom interest in respect of such portion of such Global Security shall be payable in accordance with the provisions of this Indenture and such Security. 

(c) Legend. Any Global Security issued hereunder shall bear such legend as the Company may deem appropriate or as the Depositary may
require. 
 (d) Acts of Holders. The Depositary, as a Holder, may appoint agents, grant proxies and otherwise authorize participants
in its book-entry system and others to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under this Indenture. 

(e) Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.02,
payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof. 

  
 16 

 (f) No Responsibility for Global Securities or Securities Laws. None of the Company,
the Trustee, any Agent or any of their respective agents will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests. Neither the Trustee nor any agent of the Company or the Trustee (including any Agent) shall have any responsibility or obligation to any Depositary participant or
any other person with respect to the accuracy of the records of the Depositary (or its nominee) or of any participant in the Depositary or any other person, with respect to any ownership interest in the Securities or with respect to the delivery of
any notice (including any notice of redemption) or the payment of any amount or delivery of any Securities (or other security or property) under or with respect to the Securities. The Trustee and any agent of the Company or the Trustee (including
any Agent) may rely (and shall be fully protected in relying) upon information furnished by the Depositary with respect to the Depositary participants and any beneficial owners in the Securities. Furthermore, notwithstanding anything herein to the
contrary, neither the Trustee nor any Agent shall have any obligations or duties to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or applicable law with respect to any transfer of any
interest in any Security (including any transfers between or among Depositary participants or owners of beneficial interests in any Security) other than to require delivery of such certificates and other documentation or evidence as are expressly
required by, and to do so if and when expressly required by, this Indenture, and to examine the same to determine material compliance as to form with the express requirements hereof. 

Section 2.16. Persons Deemed Owners. Prior to due presentment of a Security for registration of transfer, the Company, the
Trustee, any Agent or any of their respective agents may treat the person in whose name such Security is registered in the register maintained by the Registrar for the Securities of such Series as the owner of such Security for the purpose of
receiving payment of principal of and interest on such Security and for all other purposes whatsoever, whether or not any payment with respect to such Security shall be overdue, and neither the Company, the Trustee, any Agent or any of their
respective agents shall be affected by notice to the contrary. 
 Section 2.17. CUSIP and ISIN Numbers. The Company in issuing
the Securities may use “CUSIP” or “ISIN” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” and/or “ISIN” numbers in notices of redemption 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 Securities or as contained in any notice of a redemption and that reliance may be placed only on the other
elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. 

  
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 ARTICLE 3 

REDEMPTION 

Section 3.01. Applicability of Article. If provision is made for redemption of Securities of any Series before their Stated
Maturity pursuant to Section 2.02, then the Securities of such Series shall be redeemable in accordance with their terms and, except as otherwise specified as contemplated in Section 2.02, in accordance with this Article 3. 

Section 3.02. Notice to Trustee. The Company may, with respect to any Series of Securities, have the option to redeem and pay the
Series of Securities or may covenant to redeem and pay the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities or pursuant to Section 2.02. If a Series
of Securities is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee of the redemption date and
the principal amount of Series of Securities to be redeemed. The Company shall give the notice at least 10 days before the date notice of redemption is deliverable to the Holders (or such shorter notice as may be acceptable to the Trustee). 

Section 3.03. Selection of Securities to be Redeemed. Unless otherwise provided for a particular Series pursuant to
Section 2.02, if less than all the Securities of a Series are to be redeemed, then, in the case of Securities of such Series evidenced by one or more Global Securities, the Securities of such Series (or portions thereof) to be redeemed shall be
selected in accordance with the procedures of the Depositary and, in the case of Securities of such Series evidenced by Physical Securities, the Trustee shall select the Securities of the Series (or portions thereof) to be redeemed by lot, on a pro-rata basis or by another method that the Trustee deems fair and appropriate, and, in each case, the Securities of such Series (or portions thereof) to be redeemed shall be selected from Securities of the Series
outstanding not previously called for redemption. Unless otherwise provided for a particular Series pursuant to Section 2.02, Securities of the Series may be selected for redemption in whole or in part in a minimum denomination of $2,000 in
principal amount and integral multiples of $1,000 in principal amount in excess thereof, provided that the remaining principal amount of any Security redeemed in part shall be an authorized denomination. Provisions of this Indenture that apply to
Securities of a Series called for redemption also apply to portions of Securities of that Series called for redemption. In the event that all of the Securities of any Series do not have the same tenor or other terms, then the Company may specify, by
Company Order delivered to the Trustee that the selection of Securities to be redeemed shall be made from Securities of such Series having the same tenor or other terms. 

Section 3.04. Notice of Redemption. Unless otherwise provided for a particular Series pursuant to Section 2.02, at least 10
days but not more than 60 days before a redemption date, the Company shall give written notice of redemption to each Holder whose Securities are to be redeemed, with a copy to the Trustee in accordance with Section 10.02. 

  
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 The notice shall identify the Securities of the Series to be redeemed and (except, in the
case of Global Securities, as may otherwise be required by the procedures of the applicable Depositary) shall state: 
 (a) the redemption
date and, if provided for a particular Series pursuant to Section 2.02, any conditions precedent to such redemption; 
 (b) the
redemption price; 
 (c) the name and address of the Paying Agent; 

(d) that Securities of the Series called for redemption must be surrendered to the Paying Agent to collect the redemption price; 

(e) that on the redemption date, the redemption price will become due and payable upon each such Security to be redeemed and that interest on
Securities of the Series or portions thereof called for redemption ceases to accrue on and after the redemption date unless the Company defaults in the payment of the redemption price; 

(f) if less than all the outstanding Securities of any Series are to be redeemed (unless all the Securities of such Series of a specified tenor
and terms are to be redeemed), the identification (and, in the case of partial redemption, the principal amounts) of the particular Securities to be redeemed; 

(g) the CUSIP number, if any; and 

(h) any other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed. 

At the Company’s written request, the Trustee shall give the notice of redemption which shall be prepared by the Company in the
Company’s name and at its expense; provided, however, that the Company has delivered to the Trustee, at least 10 days (unless a shorter time shall be acceptable to the Trustee) prior to the notice date. 

Section 3.05. Effect of Notice of Redemption. Once notice of redemption is sent or given as provided in Section 3.04 and, if
provided for a particular Series pursuant to Section 2.02, subject to the satisfaction of any conditions set forth therein, Securities of a Series or portions thereof called for redemption become due and payable on the redemption date and at
the redemption price and, unless the Company defaults in the payment of such redemption price, on and after that redemption date interest shall cease to accrue on the Securities of such Series and portions thereof called for redemption. Upon
surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued and unpaid interest to, but not including, the redemption date; provided that, unless otherwise provided pursuant to Section 2.02,
installments of interest whose Stated Maturity is on or prior to the redemption date shall be payable to the Holders of such Securities (or one or more predecessor Securities) registered as such at the close of business on the relevant record date
therefor according to their terms and the terms of this Indenture. 

  
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 Section 3.06. Deposit of Redemption Price. On or before 11:00 a.m., New York
City time, on the Business Day preceding each redemption date, the Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued and unpaid interest, if any, on all Securities to be redeemed on that date.

 Section 3.07. Securities Redeemed in Part. Upon surrender of a Security that is redeemed in part, the Trustee shall
authenticate (or cause to be delivered by book-entry transfer) for the Holder a new Security of the same Series and the same tenor and terms equal in principal amount to the unredeemed portion of the Security surrendered. 

ARTICLE 4 

COVENANTS 

Section 4.01. Payment of Principal and Interest. The Company covenants and agrees, for the benefit of the Holders of each Series
of Securities, that it will duly and punctually pay the principal of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture. 

Section 4.02. SEC Reports. The Company covenants and agrees, for the benefit of the Holders of the Securities of each Series, to
provide (which delivery may be via electronic mail) to the Trustee within 15 days, after the Company files the same with the SEC, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of
the foregoing as the SEC may from time to time by rules and regulations prescribe) that the Company is required to file with the SEC pursuant to Section 13 or Section 15(d) of the Exchange Act or pursuant to TIA § 314;
provided, however, the Company shall not be required to deliver to the Trustee any materials for which the Company has sought and received confidential treatment by the SEC; and provided further, annual reports,
information, documents and reports that are filed or furnished by the Company with the SEC via the Electronic Data Gathering, Analysis and Retrieval (“EDGAR”) system or any successor electronic delivery procedure will be deemed to
be filed with the Trustee at the time such documents are filed via the EDGAR system or such successor procedure for purposes of this Section 4.02 without any further action required by the Company. The Company also shall comply with the other
provisions of TIA § 314(a). For the avoidance of doubt, nothing in this Section 4.02 shall require the Company to file any annual reports or information, documents or other reports with the SEC and, without limitation to the foregoing and
anything in this Indenture to the contrary notwithstanding, any failure by the Company to file any annual reports, information, documents or other reports with the SEC within the time periods prescribed therefor by the SEC, or at all, shall not be
deemed a breach of this Section 4.02. Delivery of such information, documents and reports to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute actual or constructive notice of any
information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).
The Trustee shall have no liability whatsoever to determine whether any financial information has been filed or posted on the EDGAR system (or any successor electronic delivery procedure) or have any duty to monitor or determine whether the

  
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Company has delivered the reports described under this Section 4.02 or otherwise complied with its obligation under this Section 4.02. If the Company shall fail to provide any annual
report, information, document or other report (or any portion thereof) to the Trustee by the date, or otherwise in the manner, required by this Section 4.02, but the Company thereafter provides such annual report, information, document or other
report (or such portion thereof), as the case may be, to the Trustee, then any default, Default or Event of Default resulting from the failure to provide such annual report, information, document or other report (or portion thereof) to the Trustee
shall be deemed to have been cured. 
 Section 4.03. Compliance Certificate. The Company covenants and agrees, for the benefit
of the Holders of the Securities of each Series, that, it will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company (ending September 30), an Officers’ Certificate (one of the signers of which shall include
the Company’s Chief Executive Officer, Chief Financial Officer or Chief Accounting Officer) stating whether or not, to the knowledge of the signers thereof, the Company is in default in the performance or observance of any of the terms,
provisions and conditions of this Indenture (without regard to notice requirements or periods of grace) and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which he or she may have knowledge.

 The Company will, so long as any of the Securities are outstanding, deliver to the Trustee promptly upon becoming aware of any Default or
Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 

Section 4.04. Stay, Extension and Usury Laws. The Company covenants (to the extent that it may lawfully do so), for the benefit of
the Holders of Securities of each Series, that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in
force, which may affect the covenants or the performance of this Indenture or the Securities; and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants (to the extent it may
lawfully do so) that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will (to the extent it may lawfully do so) suffer and permit the execution of every such power as
though no such law has been enacted. 
 Section 4.05. Existence. The Company covenants and agrees, for the benefit of the
Holders of Securities of each Series, that, subject to Article 5, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its existence as a corporation or other legal entity, as applicable and the
Company shall provide written notice to the Trustee of any change in name or formation of the Company. 

  
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 ARTICLE 5 

SUCCESSORS 

Section 5.01. When Company May Merge, Etc. The Company covenants and agrees, for the benefit of the Holders of the Securities of
each Series, that the Company shall not merge into or consolidate with, or sell, convey, transfer or otherwise dispose of all or substantially all of its assets to, any person (a “successor person”) (other than a Subsidiary), in
each case, unless: 
 (a) either the Company is the continuing person or the successor person (if not the Company) is a corporation, limited
liability company or other entity that pursuant to a supplemental indenture hereto expressly assumes all of the Company’s obligations under this Indenture and the Securities of each Series; provided that, in the event that the successor person
is not a corporation, another person that is a corporation shall expressly assume, as co-obligor with that successor person, all of our obligations under this Indenture and the Securities of each Series; 

(b) immediately after that merger or consolidation, or that sale, conveyance, transfer or other disposition, no Default or Event of Default has
occurred and is continuing; and 
 (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that the merger, consolidation, sale, conveyance, transfer or other disposition and that supplemental indenture (if any) comply with this Indenture and, with respect to such Opinion of Counsel, that such supplemental indenture (if any) is
authorized or permitted by this Indenture and is the legal, valid and binding obligation of such successor person. 
 Notwithstanding the
above, any Subsidiary of the Company may consolidate with, merge into or convey, transfer or lease all or any part of its properties or assets to the Company or any of the Company’s Subsidiaries. Neither an Officers’ Certificate nor an
Opinion of Counsel shall be required to be delivered in connection therewith. 
 Section 5.02. Successor Person Substituted.
Upon any merger, consolidation, sale, conveyance (other than by way of lease), transfer or other disposition, and upon any such assumption by the successor person or persons, such successor person or persons shall succeed to and be substituted for
the Company, with the same effect as if it or they had been named as the Company herein and in the Securities and the Company shall be relieved of any further obligations under this Indenture and the Securities of each Series and the predecessor
company may be dissolved, wound up and liquidated at any time thereafter. 

  
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 ARTICLE 6 

DEFAULTS AND REMEDIES 

Section 6.01. Events of Default. “Event of Default,” wherever used herein with respect to Securities of any
Series, means any one of the following events, unless otherwise provided as contemplated by Section 2.02: 
 (a) default in the payment
of any installment of interest on any Security of that Series when due and payable, and the continuance of such default for a period of 30 days; or 

(b) default in the payment of the principal of, or any premium on, any Security of that Series when due and payable (whether at Maturity, upon
redemption, or otherwise); or 
 (c) failure to observe or perform any covenant or agreement in this Indenture in respect of the Securities
of that Series, which failure continues for 90 days after receipt of written notice to the Company from the Trustee, or to the Company and the Trustee from the Holders of at least 25% of the outstanding aggregate principal amount of the Securities
of that Series as provided herein, in each case, requiring the Company to remedy the same; or 
 (d) (i) a failure to make any payment at
Maturity, including any applicable grace period, on any of the Company’s indebtedness (other than indebtedness which the Company owes to any of its Subsidiaries) outstanding in an amount in excess of $100 million or (ii) a default on
any of the Company’s indebtedness (other than indebtedness which the Company owes to any of its Subsidiaries), which default results in the acceleration of such indebtedness in an amount in excess of $100 million without such indebtedness
having been discharged or the acceleration having been cured, waived, rescinded or annulled, in the case of clause (i) or (ii) above, for a period of 30 days after written notice thereof to the Company by the Trustee or to the Company and the
Trustee by the Holders of not less than 25% in aggregate principal amount of then outstanding Securities of that Series (including any additional Securities); provided, however, that if any failure, default or acceleration referred to in clause
(i) or (ii) above ceases or is cured, waived, rescinded or annulled, then the Event of Default will be deemed cured; or 
 (e) the
Company pursuant to or within the meaning of any Bankruptcy Law: 
 (i) commences a voluntary case, 

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

(iii) consents to the appointment of a Custodian of it or for all or substantially all of its property, 

(iv) makes a general assignment for the benefit of its creditors, or 

  
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 (v) admits in writing its inability generally to pay its debts as the same
become due; or 
 (f) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(i) is for relief against the Company in an involuntary case, 

(ii) appoints a Custodian of the Company or for all or substantially all of its property, or 

(iii) orders the liquidation of the Company, 

and the order or decree remains unstayed and in effect for 90 days; or 

(g) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking a declaration that the Company is en
désastre, or proceedings are commenced in saisie or an initial vesting is declared over the Company or over the assets of the Company, and, in any such case, such proceeding or petition shall continue undismissed for
90 days or an order or decree approving, ordering or declaring either of the foregoing shall be entered; or 
 (h) the Company commences any
proceeding or files any petition seeking a declaration that the Company is en desastre; or 
 (i) any other Event of Default provided
with respect to Securities of that Series, which is specified in a Board Resolution and an Officers’ Certificate or a supplemental indenture hereto, in accordance with Section 2.02. 

The term “Bankruptcy Law” means title 11, U.S. Code or any similar U.S. Federal, State or Guernsey law for the relief of
debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

Section 6.02. Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any Series
at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.01(e), (f), (g) or (h)), then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the
outstanding Securities of that Series may declare the principal (or, if any Securities of that Series are Discount Securities, such portion of the principal as may be specified in the terms of such Securities) of all of the Securities of that Series
to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal (or specified amount) shall become immediately due and payable. If an Event of Default
specified in Section 6.01(e), (f), (g) or (h) occurs and is continuing with respect to the Securities of any Series, the principal (or, if any Securities of that Series are Discount Securities, such portion of the principal as may be
specified in the terms of such Securities) of all outstanding Securities of such Series shall ipso facto become and be immediately due and payable without further action or notice on the part of the Trustee or any Holder of Securities of such
Series. 

  
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 At any time after the principal amount of all outstanding Securities of any Series shall
have been so declared or otherwise become due and payable, and before a judgment or decree for payment of the money due shall have been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal
amount of the outstanding Securities of that Series, by written notice to the Company and the Trustee, may rescind and annul that declaration or acceleration and its consequences if all Events of Default with respect to Securities of that Series,
other than the non-payment of the principal and interest, if any, of Securities of that Series which have become due solely by such acceleration, have been cured or have been waived as provided in
Section 6.13. 
 No such rescission shall affect any subsequent Default or impair any right consequent thereon. 

Section 6.03. Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if 

(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a
period of 30 days (unless the entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to the expiration of such 30-day period); or 

(b) default is made in the payment of principal of any Security when due and payable; or 

(c) default is made in the deposit of any sinking fund payment when and as due by the terms of a Security, 

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

If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may
institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys
adjudged or deemed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. 

  
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 If an Event of Default with respect to any Securities of any Series occurs and is
continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such Series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and
enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

Section 6.04. Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other similar judicial proceeding relative to the Company (a declaration that the Company’s affairs are declared en état de désastre and/or
a preliminary vesting order in saisie proceedings in Guernsey being made in respect of the Company’s realty) or any other obligor upon the Securities of any Series or the property of the Company or of such other obligor or their
creditors, the Trustee (irrespective of whether the principal of the Securities of such Series shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on
the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, 

(a) to file and prove a claim for the whole amount of principal and interest owing and unpaid in respect of the Securities of such Series and
to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and
of the Holders allowed in such judicial proceeding; and 
 (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 Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for
the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07. 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any
plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

  
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 Section 6.05. Trustee May Enforce Claims Without Possession of Securities. All
rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 

Section 6.06. Application of Money Collected. Any money collected by the Trustee after the occurrence and continuation of an Event
of Default shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or interest, upon presentation of the Securities and the notation thereon of the
payment if only partially paid and upon surrender thereof if fully paid: 
 First: To the payment of all amounts due the Trustee, its
agents and counsel under Section 7.07; and 
 Second: To the payment of the amounts then due and unpaid for principal of and
interest, if any, on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and
interest; and 
 Third: To the Company or such other Person as a court of competent jurisdiction directs. 

Section 6.07. Limitation on Suits. No Holder of any Security of any Series shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture or the Securities of such Series, or for the appointment of a receiver, trustee or similar official, or for any other remedy hereunder, unless 

(a) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that
Series; 
 (b) the Holders of at least 25% in aggregate principal amount of the outstanding Securities of that Series shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (c) such Holder
or Holders have offered to the Trustee indemnity satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request; 

(d) the Trustee for 90 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and

 (e) no direction inconsistent with such written request has been given to the Trustee during such
90-day period by the Holders of a majority in aggregate principal amount of the outstanding Securities of that Series; 

  
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 it being understood and intended that no one or more of such Holders shall have any right in any manner
whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce
any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all such Holders. 

Section 6.08. Unconditional Right of Holders to Receive Principal and Interest. Notwithstanding any other provision in this
Indenture, the right of any Holder of any Security to receive payment of the principal of, and premium or interest, if any, on such Security at the place, time, rates and in the currency expressed in such Security, or to institute suit for the
enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 

Section 6.09. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right
or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and, in every such case, subject to any determination in such proceeding
and to the extent permitted by applicable law, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall
continue as though no such proceeding had been instituted. 
 Section 6.10. Rights and Remedies Cumulative. Except as otherwise
provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.08, to the extent permitted by applicable law, no right or remedy herein conferred upon or reserved to the Trustee or to the
Holders is intended to be exclusive of any other right or remedy and every right and remedy shall, to the extent permitted by applicable law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing
at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by applicable law, prevent the concurrent assertion or employment of any other appropriate right or
remedy. 
 Section 6.11. Delay or Omission Not Waiver. To the extent permitted by applicable law, no delay or omission of the
Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein and every right and
remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

  
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 Section 6.12. Control by Holders. The Holders of a majority in aggregate
principal amount of the outstanding Securities of any Series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee,
with respect to the Securities of such Series, provided that 
 (a) such direction shall not be in conflict with any rule of law or
with this Indenture; 
 (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction;

 (c) the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer
of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability; and 
 (d) and the Holders shall
have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 

Section 6.13. Waiver of Past Defaults. The Holders of not less than a majority in aggregate principal amount of the outstanding
Securities of any Series may (including by consents obtained in connection with a tender offer or exchange offer for the Securities of such Series), on behalf of the Holders of all the Securities of such Series, waive any past Default hereunder with
respect to the Securities of such Series and its consequences, except a Default in the payment of the principal of or interest, if any, on any Security of such Series and any Default, the modification of which requires the consent of the Holders of
all of the outstanding Securities of such Series (provided, however, that the Holders of a majority in aggregate principal amount of the outstanding Securities of any Series may rescind an acceleration of the Securities of that Series
and its consequences, including any related payment default that resulted from such acceleration). Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every
purpose of this Indenture; but, to the extent permitted by applicable law, no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 

Section 6.14. Undertaking for Costs. All parties to this Indenture agree, and each Holder of any Security by his acceptance
thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as
Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such
suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit
instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or
interest on any Security on or after the respective due dates expressed in such Security. 

  
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 ARTICLE 7 

TRUSTEE 

Section 7.01. Duties of Trustee. (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the
rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 

(b) Except during the continuance of an Event of Default: 

(i) the Trustee need perform only those duties that are specifically set forth in this Indenture and no implied covenants or
obligations shall be read into this Indenture against the Trustee. 
 (ii) in the absence of bad faith on its part, the
Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions that are provided to the Trustee and conform to the requirements of this Indenture;
provided, however, in the case of any such certificates or opinions which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee will examine the certificates and opinions to determine whether or
not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

(c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful
misconduct, except that: 
 (i) This paragraph does not limit the effect of paragraph (b) of this Section. 

(ii) The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved
that the Responsible Officer was negligent in ascertaining the pertinent facts. 
 (iii) The Trustee shall not be liable with
respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding Securities of any Series
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such Series. 

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to this Section and Section 7.02. 

(e) The Trustee shall not be liable for interest on (or the investment of) any money received by it except as the Trustee may agree to in
writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

  
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 (f) No provision of this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur any financial liability in the performance of any of its duties, or in the exercise of any of its rights or powers, if it shall have grounds for believing that repayment of such funds or adequate indemnity against such risk is not
reasonably assured to it. 
 Section 7.02. Rights of Trustee. (a) The Trustee may rely on and shall be protected in acting
or refraining from acting upon any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 

(b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both. The Trustee
shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel or both. 

(c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. No
Depositary shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depositary. The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be
authorized or within its rights or powers, provided that the Trustee’s conduct does not constitute negligence or willful misconduct. 

(d) The Trustee may, at the expense of the Company, consult with counsel reasonably selected by it and the advice of such counsel or any
Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith reliance thereon. 

(e) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or
direction of any of the Holders of Securities of any Series unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with
such request or direction. 
 (f) The Trustee shall not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further
inquiry or investigation into such facts or matters as it may see fit. 
 (g) The Trustee shall not be deemed to have notice of any Default
or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of
the Trustee, and such notice references the Securities generally or the Securities of a particular Series and this Indenture and indicates it is a “notice of default.” 

  
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 (h) The rights, privileges, protections, immunities and benefits given to the Trustee,
including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, each Agent, and each agent, custodian and other person employed to act hereunder. 

(i) The Trustee shall not be responsible or liable for any action taken or omitted by it in good faith at the direction of the Holders of not
less than a majority in aggregate principal amount of the outstanding Securities of the relevant Series as to the time, method and place of conducting any proceedings for any remedy available to the Trustee or the exercising of any power conferred
by this Indenture. 
 (j) Any action taken, or omitted to be taken, by the Trustee in good faith pursuant to this Indenture upon the request
or authority or consent of any person who, at the time of making such request or giving such authority or consent, is the Holder of any Security shall be conclusive and binding upon future Holders of such Securities and upon any Security executed
and delivered in exchange therefor or in place thereof. 
 (k) The Trustee shall not be responsible or liable for punitive, special,
indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of actions.

 (l) The Trustee shall not be required to give any bond or surety in respect of the execution of the trusts and powers under this
Indenture. 
 (m) Any permissive right of the Trustee to take or refrain from taking actions enumerated in this Indenture or the Securities
shall not be construed as a duty. 
 (n) Nothing herein shall be deemed to require the Trustee to submit to the jurisdiction or venue of a non-U.S. court. 
 (o) The Trustee is not responsible for monitoring the performance by any third party of
their duties or for their failure to perform. 
 (p) Nothing herein shall be construed to impose an obligation on the part of the Trustee to
monitor, recalculate, evaluate or verify any report, certificate or information received from the Company or any other person (unless and except to the extent otherwise expressly set forth herein), or to monitor, verify or independently determine
compliance by the Company with the terms hereof. 
 (q) The Trustee may request that the Company deliver an Officers’ Certificate
setting forth the names of individuals and/or titles of Officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’
Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded. 

  
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 Section 7.03. Individual Rights of Trustee. The Trustee in its individual or any
other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is
also subject to Sections 7.10 and 7.11. 
 Section 7.04. Trustee’s Disclaimer. The Trustee will not be
(a) responsible for, and makes no representation as to, the validity or adequacy of this Indenture or the Securities; (b) accountable for the Company’s use of the proceeds from the Securities, or any money paid to the Company or upon
the Company’s direction under any provision of this Indenture; (c) responsible for the use or application of any money received by any Paying Agent other than the Trustee; and (d) responsible for any statement or recital in this
Indenture, the Securities or any other document relating to the sale of the Securities or this Indenture, other than its certificate of authentication. 

Section 7.05. Notice of Defaults. If a Default or Event of Default occurs and is continuing with respect to the Securities of any
Series and if a Responsible Officer of the Trustee is deemed to have knowledge of such Default or Event of Default in accordance with Section 7.02(g), the Trustee shall send to each Securityholder of the Securities of that Series notice of a
Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Trustee is deemed to have actual knowledge of such Default or Event of Default, in each case unless such Default or Event of Default shall
have been cured or waived; provided, that in the case of any Default of the character specified in Section 6.01(d), no such notice to Holder shall be given until at least 30 days after the occurrence thereof. Except in the case of a
Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines the withholding of such notice
is in the interests of Securityholders of that Series. 
 Section 7.06. Reports by Trustee to Holders. Within 60 days after
May 15 in each year, commencing May 15, 2021, the Trustee shall transmit by mail to all Securityholders, as their names and addresses appear on the register kept by the Registrar, a brief report dated as of such May 15, in accordance
with, and to the extent required under, TIA § 313. 
 A copy of each report at the time of its mailing to Securityholders of any Series
shall be filed with the SEC and each stock exchange on which the Securities of that Series are listed. The Company shall promptly notify the Trustee when Securities of any Series are listed on any stock exchange. 

Section 7.07. Compensation and Indemnity. The Company shall pay to the Trustee from time to time compensation for its services as
the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all
reasonable out-of-pocket expenses incurred by the Trustee in the performance of its duties under this Indenture, as Trustee or Agent. Such expenses shall include the
reasonable compensation and expenses of the Trustee’s agents and counsel. 

  
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 The Company shall indemnify the Trustee in any capacity under this Indenture and any other
document or transaction entered into in connection herewith, each Agent and each of its respective agents and any authenticating agent for, and to hold each of them harmless against, any and all losses, liabilities, damages, costs, claims or
expenses (including the fees and expenses of counsel) incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture including the costs and expenses of enforcing this Indenture against the
Company (including this Section 7.07) and defending itself against any claim (whether asserted by the Company, any Holder or any other Person) or liability in connection with the exercise or performance of any of its rights, powers or duties
under this Indenture, except to the extent any such loss, liability or expense may be attributable to its own negligence or willful misconduct. The obligations of the Company under this Section 7.07 to compensate or indemnify the Trustee and to
pay or reimburse the Trustee for expenses, disbursements and advances shall be secured by a senior claim to which the Securities are hereby made subordinate on all money or property held or collected by the Trustee, except, subject to the effect of
Section 6.06, funds held in trust herewith for the benefit of the Holders of particular Series of Securities. The Trustee’s right to receive payment of any amounts due under this Section 7.07 shall not be subordinate to any other
liability or indebtedness of the Company. The obligation of the Company under this Section 7.07 shall survive the satisfaction and discharge of this Indenture and the earlier resignation or removal or the Trustee. The Company need not pay for
any settlement made without its consent, which consent shall not be unreasonably withheld. The indemnification provided in this Section 7.07 shall extend to the officers, directors, agents and employees of the Trustee. 

Anything in this Indenture to the contrary notwithstanding (including, without limitation, the first two paragraphs of this
Section 7.07), the Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through negligence, willful
misconduct or bad faith. 
 To secure the Company’s payment obligations in this Section, the Trustee shall have a Lien prior to the
Securities of any Series on all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest on any Securities. 

When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(e), (f), (g) or (h) occurs,
the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 
 The
provisions of this Section shall survive the termination of this Indenture and the resignation or removal of the Trustee. 

  
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 Section 7.08. Replacement of Trustee. A resignation or removal of the Trustee
and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. 

The Trustee may resign with respect to the Securities of one or more Series by so notifying the Company at least 30 days (or such shorter time
as the Trustee deems necessary, provided a successor Trustee is in place) prior to the date of the proposed resignation. The Holders of a majority in aggregate principal amount of the outstanding Securities of any Series may remove the Trustee with
respect to that Series by so notifying the Company and the Trustee in writing. The Company may remove the Trustee with respect to Securities of one or more Series if: 

(a) the Trustee fails to comply with Section 7.10; 

(b) the Trustee is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; 

(c) a Custodian or public officer takes charge of the Trustee or its property; or 

(d) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company.

 If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least a majority in aggregate principal amount of the outstanding Securities of the applicable Series may petition any court of competent jurisdiction for the
appointment of a successor Trustee at the Company’s expense. 
 A successor Trustee shall deliver a written acceptance of its
appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the Lien provided for in Section 7.07, the resignation or
removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture. A
successor Trustee shall give a notice of its succession to each Securityholder of each such Series. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof shall
continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by it prior to such replacement. 

  
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 Section 7.09. Successor Trustee by Merger, Etc. If the Trustee consolidates
with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another person, the successor person without any further act shall be the successor Trustee. 

Section 7.10. Eligibility; Disqualification. This Indenture shall always have a Trustee who satisfies the requirements of TIA
§ 310(a)(1), (2) and (5). The Trustee shall always have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA § 310(b). 

Section 7.11. Preferential Collection of Claims Against Company. The Trustee is subject to TIA § 311(a), excluding any
creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated. 

ARTICLE 8 

SATISFACTION AND DISCHARGE; DEFEASANCE 

Section 8.01. Satisfaction and Discharge of Indenture. This Indenture shall upon Company Order cease to be of further effect
(except as hereinafter provided in this Section 8.01) with respect to any Series of Securities specified in such Company Order, and the Trustee, at the expense of the Company, shall execute instruments acknowledging satisfaction and discharge
of this Indenture, when 
 (a) any of the following shall have occurred: 

(i) no Securities of such Series have been issued hereunder; 

(ii) all Securities of such Series theretofore authenticated and delivered (other than Securities of such Series that have been
destroyed, lost or stolen and that have been replaced or paid and Securities of such Series for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company or any of its Subsidiaries and thereafter
repaid to the Company or discharged from such trust as in this Indenture provided) have been delivered to the Trustee for cancellation; or 

(iii) all such Securities not theretofore delivered to the Trustee for cancellation: 

(A) have become due and payable, or 

(B) will become due and payable at their Stated Maturity within one year, or 

(C) have been called for redemption or are to be called for redemption within one year under arrangements satisfactory to the
Trustee for the giving of notice of redemption in the name, and at the expense, of the Company, 

  
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 and the Company, in the case of (A), (B) or (C) above, has irrevocably (except as provided in Sections
8.02(c) and 8.05 hereof) deposited or caused to be deposited with the Trustee as trust funds in trust an amount sufficient for the purpose of paying and discharging the entire indebtedness on such Securities not theretofore delivered to the Trustee
for cancellation, for principal and interest, if any, to the date of such deposit (in the case of Securities which have become due and payable on or prior to the date of such deposit) or to the Stated Maturity or redemption date, as the case may be,
provided that if the Securities of such Series are redeemable at a premium that is calculated pursuant to a formula or spread to the spread on a government security, the amount of money that the Company must irrevocably deposit or cause to be
deposited will be determined using an assumed premium calculated as of the date of such deposit, as calculated by the Company in good faith, and the Company must irrevocably deposit or cause to be deposited additional money in trust on the
redemption date as necessary to pay the premium as determined on such date; 
 (b) the Company has paid or caused to be paid all other sums
payable hereunder by the Company with respect to the Securities of such Series; and 
 (c) the Company has delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to the Securities of such Series have been complied with.

 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.07,
the provisions of this Section 8.01 and, if money shall have been deposited with the Trustee pursuant to clause (a) of this Section, the provisions of Sections 2.04, 2.07, 2.08, 8.02 and 8.05 and, if the Securities of such Series have been
or are to be called for redemption, Article 3 shall survive. 
 Section 8.02. Application of Trust Funds; Indemnification.
(a) Subject to the provisions of Sections 8.02(c) and 8.05, all money deposited with the Trustee pursuant to Section 8.01, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to
Section 8.03 or Section 8.04 and all money received by the Trustee in respect of U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.03 or Section 8.04 with respect to
the Securities of any Series, shall be held in trust and applied by it, in accordance with the provisions of the Securities of such Series and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting
as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money and/or U.S. Government Obligations or Foreign Government Obligations have been deposited with or
received by the Trustee or to make mandatory sinking fund payments or analogous payments as contemplated by Section 8.03 or Section 8.04 with respect to the Securities of such Series. 

  
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 (b) The Company shall pay and indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations deposited pursuant to Sections 8.03 or 8.04 or the principal and interest received in respect thereof, other than any such tax, fee or other charge which by
law is for the account of the Holders of the outstanding Securities of such Series. 
 (c) The Trustee shall deliver or pay to the Company
from time to time upon Company Request any U.S. Government Obligations or Foreign Government Obligations or money held by it as provided in Sections 8.03 or 8.04 which are then in excess of the amount thereof which then would have been required to
be deposited for the purpose for which such U.S. Government Obligations or Foreign Government Obligations or money were deposited or received. This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations or Foreign
Government Obligations held under Section 8.03 or Section 8.04 of this Indenture. 
 Section 8.03. Legal Defeasance of
Securities of any Series. Except in the case of any Series of Securities as to which it is expressly provided, pursuant to Section 2.02, that this Section 8.03 shall not apply to the Securities of such Series, the Company shall be
deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit referred to in subparagraph (d) of this Section 8.03, and the provisions of this
Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, at Company Request, execute instruments acknowledging the same (“legal
defeasance”)), except as to: 
 (a) the rights of Holders of Securities of such Series to receive, solely from the trust funds
described in subparagraph (d) of this Section 8.03, (i) payment of the principal of and each installment, if any, of principal of and interest on the outstanding Securities of such Series on the Stated Maturity of such principal or
installment of principal or interest and (ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture
and the Securities of such Series; 
 (b) the provisions of Sections 2.04, 2.07, 2.08, 8.02, 8.03 and 8.05 and, if the Securities of such
Series have been or are to be called for redemption, Article 3; and 
 (c) the rights, powers, trust, indemnities and immunities of the
Trustee hereunder and the obligations of the Company in connection therewith; 
 provided that, the following conditions shall have been satisfied:

 (d) the Company shall have deposited or caused to be irrevocably deposited (except as provided in Section 8.02(c) and
Section 8.05) with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for and dedicated solely to the benefit of the Holders of the Securities of such Series (i) in the
case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or
Foreign Government Obligations, in each case which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and 

  
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assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of principal of or interest, if any, on and any mandatory sinking fund
payments in respect of, the Securities of such Series, an amount in cash sufficient (which, in the case of U.S. Government Obligations and/or Foreign Government Obligations, shall be determined based on the opinion of a nationally recognized firm of
independent public accountants, investment bank or consultants expressed in a written certificate delivered to the Trustee) to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in
respect of all the Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are due or, if applicable, any redemption date specified by the Company; 

(e) such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other material instrument or
agreement relating to or evidencing indebtedness for borrowed money to which the Company is a party or by which it is bound; 
 (f) no
Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date; 

(g) the Company shall have delivered to the Trustee (1) a ruling received from the Internal Revenue Service, or (2) an Opinion of
Counsel based upon a change in applicable U.S. federal income tax laws after the date of this Indenture, in either case to the effect that the beneficial owners of the Securities of such Series will not recognize income, gain or loss for U.S.
Federal income tax purposes as a result of such legal defeasance and will be subject to U.S. federal income tax on the same amounts and in the same manner and at the same times as would have been the case if such legal defeasance had not occurred;

 (h) if the deposit of money and/or U.S. Government Obligations or Foreign Government Obligations shall be sufficient to pay the principal
of, interest, if any on and any mandatory sinking fund payments in respect of any or all of the outstanding Securities of such Series provided such Securities are redeemed on a particular redemption date, and if such Securities have not been called
for redemption, the Company shall make arrangements reasonably satisfactory to the Trustee for the giving of notice of such redemption in the name, and at the expense of, the Company; and 

(i) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, to the effect that all conditions
precedent provided for relating to the legal defeasance contemplated by this Section 8.03 have been complied with. 
 The Company may
effect legal defeasance with respect to the Securities of any Series notwithstanding that the Company may have previously effected covenant defeasance with respect to the Securities of such Series. For the avoidance of doubt and without limitation
to any of the other provisions set forth in this Article 8, if the Company effects legal defeasance with respect to the Securities of any Series, payment of the Securities of such Series may not be accelerated because of an Event of Default with
respect to the Securities of such Series. 

  
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 Section 8.04. Covenant Defeasance. Except in the case of any Series of
Securities as to which it is expressly provided, pursuant to Section 2.02, that this Section 8.04 shall not apply to the Securities of such Series, the Company shall be released from its obligations under, and may omit to comply with, any
term, provision or condition set forth in Sections 4.02, 4.04, 4.05 and 5.01 with respect to the Securities of any Series as well as any additional covenants specified in a supplemental indenture, a Board Resolution or an Officers’ Certificate
delivered pursuant to Section 2.02 with respect to the Securities of such Series (and the failure to comply with any such covenants shall not constitute a default, Default or Event of Default with respect to any Securities of such Series,
whether such default, Default or Event of Default is specified in this Indenture or in any supplemental indenture or any Board Resolution and Officers’ Certificate delivered pursuant to Section 2.02 in respect of such Series
(“covenant defeasance”)), provided that the following conditions shall have been satisfied: 
 (a) the Company shall
have deposited or caused to be irrevocably deposited (except as provided in Section 8.02(c) and Section 8.05) with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for
and dedicated solely to the benefit of the Holders of the Securities of such Series (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities
of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, in each case which through the payment of interest and principal in respect thereof in accordance with their terms, will
provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of principal of or interest, if any, on and any mandatory sinking fund payments in respect
of, the Securities of such Series, an amount in cash sufficient (which, in the case of U.S. Government Obligations and/or Foreign Government Obligations, shall be determined based on the opinion of a nationally recognized firm of independent public
accountants, investment bank or consultants expressed in a written certificate delivered to the Trustee) to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of all the
Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are due or, if applicable, any redemption date specified by the Company; 

(b) such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other material instrument or
agreement relating to or evidencing indebtedness for borrowed money to which the Company is a party or by which it is bound; 
 (c) no
Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit; 

  
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 (d) the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that
beneficial owners of the Securities of such Series will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such covenant defeasance and will be subject to U.S. Federal income tax on the same amounts and in the
same manner and at the same times as would have been the case if such covenant defeasance had not occurred; 
 (e) if the deposit of money
and/or U.S. Government Obligations or Foreign Government Obligations shall be sufficient to pay the principal of, interest, if any on and any mandatory sinking fund payments in respect of any or all of the outstanding Securities of such Series
provided such Securities are redeemed on a particular redemption date, and if such Securities have not been called for redemption, the Company shall make arrangements reasonably satisfactory to the Trustee for the giving of notice of such redemption
in the name, and at the expense of, the Company; and 
 (f) the Company shall have delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel, each to the effect that all conditions precedent provided for relating to the covenant defeasance contemplated by this Section 8.04 have been complied with. 

Section 8.05. Repayment to Company. Subject to applicable law, the Trustee and the Paying Agent shall pay to the Company upon
request any money, U.S. Government Obligations and Foreign Government Obligations held by them in trust for the payment of principal, interest, premium, if any, or any sinking fund payment on any Securities and not applied that remains unclaimed for
two years after the respective dates such principal, interest or premium, if any, or sinking fund payment on such Securities, as the case may be, shall have become due and payable. After that, Securityholders entitled to the payment thereof must
look to the Company for payment as general creditors unless an applicable abandoned property law designates another person. 

Section 8.06. Reinstatement. If the Trustee or the Paying Agent is unable to apply any money deposited with respect to Securities
of any Series in accordance with Sections 8.01, 8.03 or 8.04 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the
obligations of the Company under this Indenture with respect to the Securities of such Series and under the Securities of such Series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.01, Section 8.03
and/or Section 8.04, as applicable, until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 8.01, Section 8.03 and/or Section 8.04, as applicable; provided,
however, that if the Company has made any payment of principal of or interest or premium on or any sinking fund payments with respect to any Securities because of the reinstatement of its obligations, the Company shall be subrogated to the
rights of the Holders of such Securities to receive such payment from the money held by the Trustee or Paying Agent. 

  
 41 

 Section 8.07. Release of Other Obligations. Upon legal defeasance or covenant
defeasance of the Securities of any Series or if the Company shall effect satisfaction and discharge of this Indenture with respect to the Securities of any Series pursuant to Section 8.01, then all guarantees, if any, of the Securities of such
Series shall be automatically released and terminated, all guarantors, if any, of the Securities of such Series shall be automatically released and discharged from all of their obligations under this Indenture, their respective guarantees of the
Securities of such Series and any other instruments or agreements creating or evidencing such guarantees, all collateral, if any, for the Securities of such Series (other than the money and/or U.S. Government Obligations or Foreign Government
Obligations, as the case may be, deposited to effect such legal defeasance, covenant defeasance or satisfaction and discharge, as the case may be, in respect of the Securities of such Series pursuant to Section 8.01, 8.03 or 8.04, as the case
may be) shall be automatically released and all Liens on such collateral (other than Liens on such money and/or U.S. Government Obligations or Foreign Government Obligations deposited as aforesaid) securing the Securities of such Series shall be
automatically released and terminated, all without any action by the Company, any Holder or the Trustee; provided that the Trustee agrees to take such action as the Company may reasonably request in order to evidence or effectuate the
release, discharge and termination of any such guarantees, guarantors, collateral and Liens upon receipt of an Officers’ Certificate and Opinion of Counsel delivered pursuant to Section 10.04. 

ARTICLE 9 
 AMENDMENTS AND WAIVERS

 Section 9.01. Without Consent of Holders. The Company and the Trustee may enter into a supplemental indenture in order to
amend or supplement this Indenture with respect to Securities of one or more Series or amend or supplement the Securities of one or more Series without notice to or the consent of any Securityholder to: 

(a) to evidence the succession of another person to the Company, or successive successions, and the assumption by the successor person of the
covenants, agreements and obligations of the Company pursuant to Article 5 hereof, or to evidence the assumption by a corporation, as a co-obligor under this Indenture and the Securities, of the covenants,
agreements and obligations of the Company pursuant to Article 5; 
 (b) to add to the covenants of the Company such further covenants,
restrictions, conditions or provisions for the protection of the holders of all or any Series of Securities (and if such covenants are to be for the benefit of less than all Series of Securities, stating that such covenants are expressly being
included for the benefit of such Series) as the Board of Directors of the Company shall consider to be for the protection of the Holders of such Securities, and to make the occurrence, or the occurrence and continuance, of a default in any of such
additional covenants, restrictions, conditions or provisions a Default or an Event of Default permitting the enforcement of all or any of the several remedies provided in this Indenture as herein set forth; provided, however, that in
respect of any such additional covenant, restriction, condition or provision, such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other
defaults) or may provide for an immediate enforcement upon such default or may limit the remedies available to the Trustee upon such default; 

  
 42 

 (c) to conform the terms of Securities of any Series to the description thereof in the
applicable offering document used in connection with the offering of such Securities of such Series; provided that any amendment made solely to conform the provisions of this Indenture to the description of the Securities contained in the
prospectus or other offering document pursuant to which such Securities were sold will not be deemed to adversely affect the interests of the Holders of the Securities; 

(d) to establish the forms or terms of Securities of any Series as permitted by Sections 2.01 and 2.01; 

(e) to cure any ambiguity, to correct or supplement any provision contained herein or in any supplemental indenture that may be defective or
inconsistent with any other provision contained herein or in any supplemental indenture, or to make such other provisions in regard to matters or questions arising under this Indenture that do not adversely affect the interests of the
Securityholders of any Securities of such Series in any material respect; 
 (f) to modify or amend this Indenture to permit the
qualification of this Indenture or any indentures supplemental hereto under the Trust Indenture Act as then in effect; 
 (g) to provide for
the issuance of additional Securities of any Series of Securities; 
 (h) to provide for the exchange of any Global Securities for Physical
Securities of the same Series issued under this Indenture in the circumstances permitted by the terms of this Indenture and such Securities, and to make all appropriate changes to this Indenture for such purpose; 

(i) to add to, change or eliminate any of the provisions contained herein or in any indentures supplemental hereto in respect of one or more
Series of Securities; provided that any such addition, change or elimination (i) shall not apply to, or modify the rights of any Holder of, any Security of any Series created prior to the execution of such supplemental indenture, or
(ii) shall become effective only when no Securities of any Series created prior to the execution of such supplemental indenture are Outstanding; 

(j) to add guarantees with respect to the Securities of any Series or to secure the Securities of any Series; and 

(k) to evidence and provide for the acceptance of appointment hereunder by a successor or separate trustee with respect to the Securities of
one or more Series or to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, pursuant to the requirements of
Section 7.08. 

  
 43 

 Section 9.02. With Consent of Holders. Subject to Section 9.03 and
Section 9.05, the Company and the Trustee may enter into a supplemental indenture for the purpose of supplementing or amending in any manner this Indenture with respect to the Securities of any Series, or supplementing or amending the
Securities of any Series, with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities of such Series affected by such supplement or amendment, voting as a single class (including
consents obtained in connection with a tender offer or exchange offer for the Securities of such Series); provided that no such consent of Holders shall be required in respect of any supplement or amendment permitted by Section 9.01
hereof; and provided, further, that any such supplement or amendment affecting more than one Series of Securities may be set forth in a single supplemental indenture. Without limitation to Section 6.13 and subject to
Section 9.03, the Holders of at least a majority in aggregate principal amount of the outstanding Securities of any Series by written notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the
Securities of such Series) may, on behalf of the Holders of all Securities of that Series, waive compliance by the Company with covenants or other provisions of this Indenture and the Securities of such Series (including, without limitation,
covenants and provisions that may be set forth in a Board Resolution and Officers’ Certificate or supplemental indenture). 
 Holders
of the Securities of any Series shall vote as a separate class with respect to modifications or amendments that affect only the Securities of such Series, and the Holders of other Series of Securities shall not have any voting rights with respect to
such matters as they relate to the Securities of such Series. 
 Upon the request of the Company, accompanied by the Board Resolutions
authorizing the execution and delivery of any such supplemental indenture pursuant to this Section 9.02, and upon the filing with the Trustee of evidence of the consent of Securityholders, the Trustee shall join with the Company in the
execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to,
enter into such supplemental indenture. 
 It shall not be necessary for the consent of the Holders of Securities under this
Section 9.02 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver under this Section 9.02
becomes effective, the Company shall deliver to the Holders of Securities affected thereby, a notice briefly describing the supplemental indenture or waiver. Any failure by the Company to deliver such notice, or any defect therein, shall not,
however, in any way impair or affect the validity of any such supplemental indenture or waiver. 
 Section 9.03. Limitations.
Subject to Section 9.05, an amendment, supplement or waiver pursuant to Section 9.02 affecting the Securities of any Series may not, without the consent of the affected Holders: 

(a) change the Stated Maturity of principal of, or any installment of principal of or interest on, any Security; 

  
 44 

 (b) in the case of any Series of subordinated Securities, modify the subordination
provisions of that Series of subordinated Securities in a manner materially adverse to the Holders of that Series of subordinated Securities; 

(c) adversely affect the right of any Holder of the Securities to convert or exchange any Security into or for the Company’s common stock
or other securities in accordance with the terms of such Security; 
 (d) reduce the rate of or extend the time of payment of interest, if
any, on any Security, or alter the manner of calculation of interest payable on any Security (except as part of any remarketing of the Securities of any Series) or any interest rate reset with respect to the Securities of any Series, in each case in
accordance with the terms of the Securities of such Series; 
 (e) reduce the principal amount or premium, if any, on any Security; 

(f) make the principal amount or premium, if any, or interest on any Security, payable in any coin or currency other than that provided in any
Security; 
 (g) reduce the percentage in aggregate principal amount of outstanding Securities of any Series, the Holders of which are
required to consent to any such supplemental indenture or any waiver of any past default or Event of Default pursuant to Section 6.13; 

(h) change any place of payment where the Securities of any Series or interest thereon is payable; 

(i) modify the interest rate reset provision of any Security; 

(j) impair the right of any Holder of a Security to receive payment of the principal of, or premium, if any, or interest on any Security on or
after the respective due dates for such principal, premium or interest, or to institute suit for the enforcement of any such payment, or reduce the amount of the principal of a Discount Security that would be due and payable upon an acceleration of
the maturity thereof pursuant to Section 6.01, or adversely affect the right of repayment, if any, at the option of the Holder, or extend the time for, or reduce the amount of, any payment to any sinking fund or analogous obligation relating to
any Security; or 
 (k) modify any provision of Section 6.13 or this Section 9.03 (except to increase the percentage in aggregate
principal amount of outstanding Securities whose Holders must consent to an amendment, or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Security of the Series
affected by the modification or waiver). 
 Section 9.04. Compliance with Trust Indenture Act. Every amendment or supplement to
this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that complies with the TIA as then in effect. 

  
 45 

 Section 9.05. Revocation and Effect of Consents. Until an amendment or
supplement is set forth in a supplemental indenture or a waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the
same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to his or her Security or portion of a Security if the Trustee
receives the notice of revocation before the date of the supplemental indenture or the date the waiver becomes effective. 
 Any amendment,
supplement or waiver once effective shall bind every Securityholder of each Series affected by such amendment, supplement or waiver unless it is of the type or relates to any matters described in any of clauses (a) through (j) of
Section 9.03. In that case then, anything herein to the contrary notwithstanding, the amendment, supplement or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a
Security that evidences the same debt as the consenting Holder’s Security. 
 Section 9.06. Notation on or Exchange of
Securities. The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Security of any Series thereafter authenticated. The Company in exchange for Securities of that Series may issue and the Trustee shall
authenticate upon Company Request new Securities of that Series that reflect the amendment, supplement or waiver. 
 Section 9.07.
Trustee Protected. In executing, or accepting the additional trusts created by any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to
receive, and (subject to Section 7.01) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel to the effect that the execution of such supplemental indenture is authorized or permitted by this
Indenture, that all conditions precedent thereto under this Indenture have been satisfied, and, with respect to such Opinion of Counsel, that the supplemental indenture is the legal, valid and binding obligation of the Company. The Trustee shall
sign all supplemental indentures, except that the Trustee need not sign any supplemental indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

ARTICLE 10 

MISCELLANEOUS 

Section 10.01. Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies, or conflicts with another
provision which is required or deemed to be included in this Indenture by the TIA, such required or deemed provision shall control. 

  
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 Section 10.02. Notices. Except as otherwise set forth herein, any notice or
communication by the Company or the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in writing and delivered in person or by overnight courier or five days after it is mailed by first class mail or when
transmitted by facsimile transmission (confirmed, in the case of facsimile transmission, by delivery in person or by overnight courier no later than the next day), provided, however, that notices to the Trustee shall only be deemed duly given upon
actual receipt thereof: 
 if to the Company: 

Amdocs Limited 
 Hirzel House,
Smith Street 
 St. Peter Port, Guernsey, GY1 2NG 

Attention: Matthew E. Smith 

Telephone: (314) 212-8328 

if to the Trustee: 
 The Bank of
New York Mellon 
 240 Greenwich Street, Floor 7 East 

New York, New York 10286 

Attention: Global Corporate Trust Administration 

The Company or the Trustee by written notice to the other may designate additional or different addresses for subsequent notices or
communications. 
 The Trustee shall have the right, but shall not be required, to rely upon and comply with instructions and directions
sent by e-mail, facsimile and other similar unsecured electronic methods by persons believed by the Trustee to be authorized to give instructions and directions on behalf of the Company. The Trustee shall have
no duty or obligation to verify or confirm that the person who sent such instructions or directions is, in fact, a person authorized to give instructions or directions on behalf of the Company; and the Trustee shall have no liability for any losses,
liabilities, costs or expenses incurred or sustained by the Company as a result of such reliance upon or compliance with such instructions or directions. The Company agrees to assume all risks arising out of the use of such electronic methods to
submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk of interception and misuse by third parties. 

Except as otherwise set forth in this Indenture and except as may otherwise be provided with respect to the Securities of any Series pursuant
to Section 2.02, any notice or communication to a Securityholder of a Physical Security shall be mailed by first-class mail, sent by overnight courier or hand delivery, transmitted by email or transmitted by facsimile transmission to his or her
address shown on the register kept by the Registrar; provided that if the Securityholder to which any such notice or communication is to be mailed, delivered or otherwise transmitted is a Depositary or its nominee, such notice or
communication may instead be given by such other means as may be required or permitted by the procedures of such Depositary. Failure to deliver a notice or communication to a Securityholder of any Series or any defect in it shall not affect its
sufficiency with respect to other Securityholders of that or any other Series. 

  
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 If a notice or communication is delivered in the manner provided above or as otherwise
provided in this Indenture, within the time prescribed, it is duly given, whether or not the Securityholder receives it. 
 If the Company
delivers a notice or communication to Securityholders, it shall deliver a copy to the Trustee and each Agent at the same time. 

Section 10.03. Communication by Holders with Other Holders. Securityholders of any Series may communicate pursuant to TIA §
312(b) with other Securityholders of that Series or any other Series with respect to their rights under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall have the protection
of TIA § 312(c). 
 Section 10.04. Certificate and Opinion as to Conditions Precedent. Upon any request or application by
the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee: 
 (a) an Officers’
Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(b) an Opinion of Counsel to the effect that, in the opinion of such counsel, all such conditions precedent provided for in this Indenture
relating to the proposed action have been complied with, unless such requirement has been waived or is not required by the Trustee. 

Section 10.05. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include: 

(a) a statement that the person making such certificate or opinion has read such covenant or condition; 

(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such
certificate or opinion are based; 
 (c) a statement that, in the opinion of such person, he has made such examination or investigation as is
necessary to enable him 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 or not, in the opinion of such person, such condition or covenant has been complied with. 
 Section 10.06.
Rules by Trustee and Agents. The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions. 

  
 48 

 Section 10.07. Legal Holidays. Unless otherwise provided pursuant to
Section 2.02 for a Series of Securities, if any interest payment date, redemption date, Maturity or other date on which any payment on any Security is due is not a Business Day, then payment of the principal and interest, if any, as the case
may be, due on such Security on such interest payment date, redemption date, Maturity or other date, as the case may be, need not be made on such interest payment date, redemption date, Maturity or other date, as the case may be, but may be made on
the next succeeding Business Day with the same force and effect as if made on such interest payment date, redemption date, Maturity or other date, as the case may be, and no interest will accrue on such payment for the period from and after such
interest payment date, redemption date, Maturity or other date, as the case may be. 
 Section 10.08. No Recourse Against
Others. A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or this Indenture or for any claim based on, in respect of or by reason of such
obligations or their creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Securities. 

Section 10.09. Counterparts. This Indenture may be executed in any number of counterparts and by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

Section 10.10. Governing Law; Waiver of Jury Trial; Submission to Jurisdiction; Waiver of Immunity. THIS INDENTURE AND THE
SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN SUCH STATE, WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS THEREOF. 

THE COMPANY AND THE TRUSTEE EACH HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY
JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

Any legal suit, action or proceeding arising out of or based upon this Indenture, the Securities or the transactions contemplated hereby or
thereby may be instituted in the federal courts of the United States of America located in the City of New York or the courts of the State of New York in each case located in the City of New York (collectively, the “Specified
Courts”), and each party irrevocably submits to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail (to
the extent allowed under any applicable statute or rule of court) to such party’s address set forth above shall be effective service of process for any suit, action or other proceeding brought in any such court. The Company and the Trustee each
hereby irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim any such suit, action or
other proceeding has been brought in an inconvenient forum. 

  
 49 

 To the extent that the Company has or hereafter may acquire any immunity (sovereign or
otherwise) from jurisdiction of any court of (x) Guernsey or any political subdivision thereof, (y) The United States of America or the State of New York or (z) any jurisdiction in which it owns or leases property or assets or from
any legal process (whether through service of notice, attachment prior to judgment, attachment in aid of execution, execution, set-off or otherwise) with respect to itself or its property and assets or this
Indenture, the Company hereby irrevocably waives such immunity in respect of its obligations under this Indenture to the fullest extent permitted by applicable law. 

Section 10.11. Appointment of Agent for Service. The Company has designated and appointed Amdocs, Inc., 1390 Timberlake Manor
Parkway, Chesterfield, Missouri 63017, as its authorized agent (the “Authorized Agent”), upon which process may be served in any suit or proceeding in any Federal or State court in the Borough of Manhattan, The City of New York
arising out of or relating to the Securities or this Indenture, but for that purpose only, and agrees that service of process upon said Authorized Agent shall be deemed in every respect effective service of process upon it in any such suit or
proceeding in any Federal or State court in the Borough of Manhattan, The City of New York, New York. Such appointment shall be irrevocable so long as any of the Securities remain outstanding until the appointment of a successor by the Company and
such successor’s acceptance of such appointment; provided, that, if any such successor Authorized Agent is another Subsidiary of the Company, such Subsidiary shall be organized under the laws of The United States of America, any State thereof
or the District of Columbia. Upon such acceptance, the Company shall notify the Trustee of the name and address of such successor. If Amdocs, Inc. ceases to be a Subsidiary of the Company for any reason or is no longer incorporated under the laws of
The United States of America, any State thereof or the District of Columbia, the Company shall designate and appoint a successor Authorized Agent that is organized under the laws of The United States of America, any State thereof or the District of
Columbia. The Company further agrees to take any and all action, including the execution and filing of any and all such documents and instruments, as may be necessary to continue such designation and appointment of said Authorized Agent in full
force and effect so long as any of the Securities shall be outstanding. The Trustee shall not be obligated and shall have no responsibility with respect to any failure by the Company to take any such action. 

Section 10.12. Judgment Currency. If for the purposes of obtaining judgment in any court it is necessary to convert a sum due
hereunder into any currency other than Dollars, to the fullest extent permitted by law, the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee or any Holder could purchase Dollars with such
other currency in The City of New York on the Business Day preceding that on which final judgment is given. The obligation of the Company with respect to any sum due from it to the Trustee and the Holders shall, notwithstanding any judgment in a
currency other than Dollars, not be discharged until the first Business Day 

  
 50 

 
following receipt by the Trustee or the Holders of any sum in such other currency, and only to the extent that the Trustee or such Holders may in accordance with normal banking procedures
purchase Dollars with such other currency. If the Dollars so purchased are less than the sum originally due to the Trustee or the Holders, the Company will indemnify the Trustee and such Holders against such loss. If the Dollars so purchased are
greater than the sum originally due to the Trustee or the Holders, the Trustee and the Holders hereby agree to pay to the Company an amount equal to the excess of the Dollars so purchased over the sum originally due to such person. 

Section 10.13. No Adverse Interpretation of Other Agreements. To the extent permitted by applicable law, this Indenture may not be
used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company and any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

Section 10.14. Successors. All agreements of the Company in this Indenture and the Securities shall bind its successor. All
agreements of the Trustee in this Indenture shall bind its successor. 
 Section 10.15. Severability. To the extent permitted by
applicable law, in case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 10.16. Table of Contents, Headings, Etc. The Table of Contents, Cross Reference Table, and headings of the Articles and
Sections of this Indenture and in any Securities have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof or thereof. 

Section 10.17. Securities in a Composite Currency, Currency Unit or Foreign Currency. Unless otherwise provided pursuant to
Section 2.02 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any consent, notice, waiver or other action may be taken or given by the Holders of a specified percentage in aggregate
principal amount of Securities of one or more Series at the time outstanding and, at such time, all the outstanding Securities of such Series are not denominated in the same currency or currency unit, then the principal amount (which, in the case of
Discount Securities, shall be determined as provided in the last paragraph of Section 2.09 hereof) of Securities of such Series which shall be deemed to be outstanding for the purpose of giving any consent, notice or waiver or taking any other
action under this Indenture or the Securities of such Series shall be (except in the case of any such Securities denominated in Dollars) that amount of Dollars that could be obtained for such principal amount (or other amount, as the case may be) at
the Market Exchange Rate at such time. For purposes of this Section 10.17, “Market Exchange Rate” shall mean the noon Dollar buying rate in New York City for cable transfers of such currency or currencies as published by the
Federal Reserve Bank of New York, as of the most recent available date. If such Market Exchange Rate is not available for any reason with respect to any such currency, the Company shall use, in its sole discretion,

  
 51 

 
such quotation of the Federal Reserve Bank of New York as of the most recent available date, or quotations or rates of exchange from one or more major banks in The City of New York or in the
country of issue of the currency in question, which for purposes of Euros shall be Brussels, Belgium, or such other quotations or rates of exchange as the Company shall deem appropriate. 

The Company may, at its option, appoint an agent to obtain the Market Exchange Rate (or alternative rate) and to perform the relevant
calculations with respect to any Securities denominated in a currency or currencies other than Dollars. All decisions and determinations of the Company or any such agent regarding the Market Exchange Rate or any alternative determination provided
for in the preceding paragraph shall be in its sole discretion and shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Company and all Holders. 

Section 10.18. Force Majeure. In no event will the Trustee or any Agent be responsible or liable for any failure or delay in the
performance of its obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, any present or future law or regulation or government authority, strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, epidemics, pandemics, interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility, it being understood that, the Trustee and each Agent will use reasonable efforts that are consistent with accepted practices in
the banking industry to resume performance as soon as practicable under the circumstances. 
 Section 10.19. U.S.A. Patriot Act.
The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee is required to obtain, verify, and record information that identifies each person that establishes a relationship or opens an account with
the Trustee. The Company agrees that it will provide the Trustee with such information as the Trustee may reasonably request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. For purposes of this Section 10.19,
“U.S.A. Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56, as amended, and signed
into law October 26, 2001. The provisions of this Section 10.19 are for the sole and exclusive benefit of the Trustee and no failure by the Company to comply with, or any breach of, this Section 10.19 shall constitute a Default, Event
of Default or other default with respect to the Securities of any Series or under this Indenture, nor shall any person other than the Company and the Trustee have any rights under this Section 10.19. 

Section 10.20. Withholdings and Deductions. The Trustee and each Paying Agent will be entitled to make any withholding or
deduction from payments to the extent necessary to comply with applicable law for which the Trustee and each Paying Agent shall not have any liability to the Company or any Holder or beneficial owner of the Securities. 

 

  
 52 

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

			
	AMDOCS LIMITED
		
	By:	 	 /s/ Matthew Smith

		 	Name: Matthew Smith
		 	Title:Secretary
	
	 THE BANK OF NEW YORK MELLON,
 as
Trustee

		
	By:	 	 /s/ Francine Kincaid

		 	Name:Francine Kincaid
		 	Title:Vice President

 [Signature Page to Base Indenture]

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