Document:

Exhibit 4.3

  

   

    EXECUTION VERSION

     

        

    
      SUPPLEMENTAL INDENTURE NO. 1

       

      The Supplemental Indenture No. 1, dated as of December 20, 2018 (this “Supplemental

              Indenture No. 1”), among CIGNA CORPORATION (formerly known as Halfmoon Parent, Inc.) (the “Parent Guarantor”), a corporation organized and existing under
          the laws of the State of Delaware, CIGNA HOLDING COMPANY (formerly known as Cigna Corporation) (the “Company”), a corporation organized and existing under the laws of
          the State of Delaware and a direct Subsidiary of the Parent Guarantor and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation (as successor to Bankers Trust Company), as trustee (the “Trustee”).

       

      RECITALS:

       

      WHEREAS, the Company and the Trustee are parties to the Indenture, dated as of June 30, 1988 (the “Base Indenture” and, as amended, supplemented and otherwise modified on or prior to the date hereof, including by this Supplemental Indenture No. 1, the “Indenture”), relating to the issuance from time to time by the Company of its Securities on terms specified at the time of issuance;

       

      WHEREAS, pursuant to the Base Indenture, the Company has issued its 7.65% Notes due 2023 and its 8.30% Notes due 2023 (together, the “Notes”);

       

      WHEREAS, Section 901(10) of the Base Indenture provides that the Company and the Trustee may enter into a supplemental indenture to make
          any provision with respect to matters or questions arising under the Indenture provided that such action does not does not adversely affect the interests of the Holders of Securities of any series in any material respect;

       

      WHEREAS, the Parent Guarantor is not under any obligation to guarantee any of the Company’s obligations under the Notes or the Indenture
          but desires to guarantee unconditionally all of the Company’s obligations under the Notes and the Indenture pursuant to a guarantee on the terms and conditions set forth herein; and

       

      WHEREAS, all conditions and requirements of the Indenture necessary to make this Supplemental Indenture No. 1 a valid, binding and legal
          instrument in accordance with its terms have been performed and fulfilled by the parties hereto.

       

      NOW THEREFORE, for and in consideration of the premises and other good and valuable consideration, receipt of which is hereby
          acknowledged by the parties hereto, the Parent Guarantor, the Company and the Trustee agree as follows:

       

      
        
          

      

      
      ARTICLE I

       

      PARENT GUARANTEE

       

      
        
          
            Section 1.01         Parent Guarantee.

          

        

      

       

      (a)          The Parent Guarantor, as primary obligor and not
          merely as surety, hereby irrevocably and fully and unconditionally guarantees to each Holder of the Notes and to the Trustee and its successor and assigns (the “Parent Guarantee”)

          on an unsecured, unsubordinated basis and equal in right of payment to all existing and future unsecured, unsubordinated indebtedness of the Parent Guarantor, the punctual payment when due of all monetary obligations of the Company under the
          Indenture and the Notes, whether for principal of or interest on the Notes.  The obligations of the Parent Guarantor hereunder shall be joint and several with the obligations of the other Guarantors pursuant to their Guarantees under the
          Indenture.

       

      (b)          The obligations of the Parent Guarantor shall be
          limited to the maximum amount as shall, after giving effect to all other contingent and fixed liabilities of the Parent Guarantor and after giving effect to any collections from or payments made by or on behalf of any other Guarantor in respect
          of the obligations of such other Guarantor under its Guarantee, result in the obligations of the Parent Guarantor under the Parent Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable law, or being void or
          unenforceable under any law relating to insolvency of debtors.

       

      (c)          The Parent Guarantor further agrees that (to the
          fullest extent permitted by law) its obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Indenture, the Notes or the obligations of the Company or any other Guarantor hereunder or
          thereunder, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, any release of any other Guarantor, the recovery of any judgment against the Company, any action to
          enforce the same, or any other circumstance that might otherwise constitute a legal or equitable discharge or defense of the Parent Guarantor.

       

      (d)          The Parent Guarantor hereby waives (to the fullest
          extent permitted by law) the benefit of diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice
          and all demands whatsoever and covenants that (except as otherwise provided in Section 1.03) the Parent Guarantee shall not be discharged except by complete performance
          of the obligations contained in the Notes, the Indenture and the Parent Guarantee. The Parent Guarantee is a guarantee of payment and not of collection.

       

      
        
          
            Section 1.02         Continuing Parent Guarantee.

          

        

      

       

      (a)          The Parent Guarantee shall be a continuing guarantee
          and shall, subject to Section 1.03, (i) remain in full force and effect until payment in full of the principal amount of all Outstanding Notes (whether by payment at
          maturity, purchase, redemption, defeasance, retirement or other acquisition), (ii) be binding upon the Parent Guarantor and (iii) inure to the benefit of and be enforceable by the Trustee, the Holders and their permitted successors, transferees
          and assigns.

       

      
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      (b)          The obligations of the Parent Guarantor hereunder
          shall continue to be effective or shall be reinstated, as the case may be, if at any time any payment which would otherwise have reduced or terminated the obligations of the Parent Guarantor hereunder and under the Parent Guarantee (whether such
          payment shall have been made by or on behalf of the Company or by or on behalf of the Parent Guarantor) is rescinded or reclaimed from any of the Holders upon the insolvency, bankruptcy, liquidation or reorganization of the Company or the Parent
          Guarantor or otherwise, all as though such payment had not been made.

       

      
        
          
            Section 1.03        Release of Parent Guarantee.

          

        

      

       

      (a)          The Parent Guarantor will be automatically and
          unconditionally released from its obligations under the Indenture and with respect to the Parent Guarantee (any of the following, a “Parent Guarantee Release Condition”):

       

      (i)          with respect to any series of
          Notes, as applicable, if the Company exercises its defeasance option or its covenant defeasance option as described in Section 1007 of the Base Indenture with respect to such series of Notes or if the Company’s obligations under the Indenture are
          discharged in accordance with the terms of the Indenture in respect of such series of Notes;

       

      (ii)         with respect to all series of
          Notes, on the date upon which the Company ceases to be a Subsidiary of the Parent Guarantor that is organized or established under the laws of the United States of America, any State thereof or the District of Columbia, or upon the conveyance,
          transfer or lease of its properties and assets substantially as an entirety to any Person (other than (i) to any Subsidiary of the Parent Guarantor that is organized or established under the laws of the United States of America, any State thereof
          or the District of Columbia or (ii) to one or more Subsidiaries which are wholly-owned by the Company (except for directors’ qualifying shares));

       

      (iii)        with respect to all series of
          Notes, upon either (x) the substantially simultaneous termination, release or discharge of indebtedness for borrowed money of the Company or Express Scripts Holding Company, a Delaware corporation (“ESH”) (including any release or discharge that would be conditioned on the termination, release or discharge of any guarantee or indebtedness for borrowed money) or (y) any other event or circumstance, in each
          case, as a result of which or upon which the aggregate principal amount of indebtedness for borrowed money issued or borrowed by the Company and ESH (collectively) constitutes no more than 20.0% of the aggregate principal amount of indebtedness
          for borrowed money of the Parent Guarantor and its Subsidiaries, on a consolidated basis, as of such time; or

       

      (iv)        with respect to all series of
          Notes, upon the release of the Company’s guarantee pursuant to Section 3 of that certain Supplemental Indenture No. 2, dated as of December 20, 2018, among ESH, the Company, the Parent Guarantor and U.S. Bank National Association, as trustee, to
          that certain Indenture, dated as of September 17, 2018, between the Parent Guarantor and U.S. Bank National Association, as supplemented by that certain Supplemental Indenture No. 1, dated as of September 17, 2018.

       

      
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      (b)          At the request of the Company or the Parent Guarantor,
          and upon delivery to the Trustee of an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent under the Indenture relating to such release have been complied with, the Trustee will execute any documents
          reasonably requested by the Company or the Parent Guarantor evidencing such release.

       

      (c)          If the Parent Guarantor is released from its
          obligations hereunder pursuant to this Section 1.03, it shall cease to be the “Parent Guarantor” as defined in and for purposes hereof

       

      Section 1.04         Notation Not Required.  Neither the Company nor the Parent Guarantor shall be required to make a notation on the Notes to reflect the Parent Guarantee or any release thereof.

       

      Section 1.05         Waiver of Subrogation.  The Parent Guarantor hereby irrevocably waives any claim or other rights which it may now or hereafter acquire against the Company that arise from the existence, payment, performance or
          enforcement of the Parent Guarantor’s obligations under the Parent Guarantee and the Indenture, including, without limitation, any right of subrogation, reimbursement, exoneration, indemnification, and any right to participate in any claim or
          remedy of any Holder of Notes against the Company, whether or not such claim, remedy or right arises in equity, or under contract, statute or common law, including, without limitation, the right to take or receive from the Company, directly or
          indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim or other rights in relation to the Trustee until all monetary obligations of the Company under the Indenture and the Notes,
          whether for principal of or interest on the Notes, are paid in full. If any amount shall be paid to the Parent Guarantor in violation of the preceding sentence and the Notes shall not have been paid in full, such amount shall have been deemed to
          have been paid to the Parent Guarantor for the benefit of, and held in trust for the benefit of, the Holders of the Notes, and shall forthwith be paid to the Trustee for the benefit of such Holders to be credited and applied upon the Notes,
          whether matured or unmatured, in accordance with the terms of the Indenture. The Parent Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Indenture and that the waiver
          set forth in this Section is knowingly made in contemplation of such benefits.

       

      Section 1.06         Notices.  Notice to the Parent Guarantor shall be sufficient if addressed to the Parent Guarantor care of the Company at the address, place and manner provided in Section 105 of the Base Indenture.

       

      
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         ARTICLE II

       

      MISCELLANEOUS

       

      Section 2.01         Integral Part; Effect of Supplement on Indenture.  This Supplemental Indenture No. 1 constitutes an integral part of the Indenture.  Except for the amendments and supplements made by this Supplemental Indenture
          No. 1, the Base Indenture shall remain in full force and effect as executed.

       

      Section 2.02         Capitalized Terms.  For purposes of this Supplemental Indenture No. 1:

       

      (a)          Capitalized terms used herein without definition shall
          have the meanings assigned to them in the Base Indenture;

       

      (b)          All references to Articles and Sections, unless
          otherwise specified, refer to the corresponding Articles and Sections of the Base Indenture; and

       

      (c)          The terms “herein,” hereof,” “hereunder” and other
          words of similar import refer to this Supplemental Indenture No. 1.

       

      Section 2.03         Adoption, Ratification and Confirmation.  The Indenture, as supplemented by this Supplemental Indenture No. 1, is in all respects hereby adopted, ratified and confirmed.

       

      Section 2.04         Trustee Not Responsible for Recitals.  The recitals in this Supplemental Indenture No. 1 are made by the Company, and the Trustee assumes no responsibility for the correctness of such recitals.  The Trustee
          makes no representations as to the validity or sufficiency of this Supplemental Indenture No. 1.

       

      Section 2.05         Counterparts.  This Supplemental Indenture No. 1 may be executed in multiple counterparts, each of which shall be regarded for all purposes as an original and all of which shall constitute but one and the same
          instrument.

       

      Section 2.06         Governing Law.  This Supplemental Indenture No. 1 and the Parent Guarantee hereunder shall be governed by and construed in accordance with the laws of the State of New York.

       

      Section 2.07         Conflict with Trust Indenture Act.  If any provision of this Supplemental Indenture No. 1 limits, qualifies or conflicts with any provision of the Trust Indenture Act that is required under the Trust Indenture
          Act to be part of and govern this Supplemental Indenture No. 1, the latter provision shall control.  If any provision of this Supplemental Indenture No. 1 modifies or excludes any provision of the Trust Indenture Act which may be so modified or
          excluded, the latter provision shall be deemed to apply to the Supplemental Indenture No. 1 as so modified or to be excluded, as the case may be.

       

      [Signature Page Follows]

       

      
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      IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture No. 1 to be duly executed as of the date first above
          written.

       

      	 	
              CIGNA CORPORATION

            

      	 	  
	 	
              By:

            	
               /s/ Timothy D. Buckley

            	 

      	 	
              

              

            	
              Name:

            	
              Timothy D. Buckley

            
	 	
              

              

            	
              Title:

            	
              Vice President and Treasurer

            

      

      

      	 	
              CIGNA HOLDING COMPANY

            
	 	 

      	 	
              By:

            	
              /s/ Timothy D. Buckley

            	 

      	 	

              	Name:	
              Timothy D. Buckley

            
	 	
              

              

            	
              Title:

            	
              Vice President and Treasurer

            

      

      

      	 	
              DEUTSCHE BANK TRUST COMPANY AMERICAS

            

      	 	
              By: DEUTSCHE BANK NATIONAL TRUST COMPANY

            

      

      

      	 	
              By:

            	
              /s/ Chris Niesz

            	
              

              

            

      	 	
              

              

            	
              Name:

            	
              Chris Niesz

            
	 	
              

              

            	
              Title:

            	
              Vice President

            

      

      

      	 	
              By:

            	
              /s/ Robert S. Peschler

            	 

      	 	
              

              

            	
              Name:

            	
              Robert S. Peschler

            
	 	

            	
              Title:

            	
              Vice President

            

      

      

      

      

      
        [Signature Page to Supplemental Indenture No. 1 (Cigna-DB)]Exhibit 4.4

  

  

    EXECUTION VERSION

  

  
     

    

    TWENTY-FIFTH SUPPLEMENTAL INDENTURE

     

    

    The Twenty-Fifth Supplemental Indenture, dated as of December 20, 2018 (this “Twenty-Fifth Supplemental Indenture”), among CIGNA CORPORATION (formerly known as Halfmoon Parent Inc.) (the “Parent Guarantor”), a corporation
        organized and existing under the laws of the State of Delaware, EXPRESS SCRIPTS HOLDING COMPANY, a corporation organized and existing under the laws of the State of Delaware (the “Company”)

        and a direct Subsidiary of the Parent and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”).

     

    RECITALS:

     

    WHEREAS, the Company, the Guarantors, and the Trustee are parties to an Indenture, dated as of November 21, 2011 (the “Base Indenture” and, as amended, supplemented and otherwise modified on or prior to the date hereof, including by this Twenty-Fifth Supplemental Indenture, the “Indenture”), relating to the issuance from time to time by the Company of its Securities on terms specified at the time of issuance;

     

    WHEREAS, each of (a) that certain Section 7.1(9) of (1) that certain Third Supplemental Indenture to the Base Indenture, dated as of
        November 21, 2011 (the “Third Supplemental Indenture”), relating to the 4.750% Senior Notes due 2021, (2) that certain Fourth Supplemental Indenture to the Base Indenture,
        dated as of November 21, 2011 (the “Fourth Supplemental Indenture”), relating to the 6.125% Senior Notes due 2041 and (3) that certain Seventh Supplemental Indenture to
        the Base Indenture, dated as of February 9, 2012 (the “Seventh Supplemental Indenture”), relating to the 3.900% Senior Notes due 2022 and (b) Section 5.1(9) of (1) that
        certain Twelfth Supplemental Indenture to the Base Indenture, dated as of June 5, 2014 (the “Twelfth Supplemental Indenture”), relating to the 2.25% Senior Notes due 2019,
        (2) that certain Thirteenth Supplemental Indenture to the Base Indenture, dated as of June 5, 2014 (the “Thirteenth Supplemental Indenture”), relating to the 3.50% Senior
        Notes due 2024, (3) that certain Sixteenth Supplemental Indenture to the Base Indenture, dated as of February 25, 2016 (the “Sixteenth Supplemental Indenture”), relating
        to the 3.300% Senior Notes due 2021, (4) that certain Seventeenth Supplemental Indenture to the Base Indenture, dated as of February 25, 2016 (the “Seventeenth Supplemental Indenture”),

        relating to the 4.500% Senior Notes due 2026, (5) that certain Eighteenth Supplemental Indenture to the Base Indenture, dated as of July 5, 2016 (the “Eighteenth Supplemental
            Indenture”), relating to the 3.000% Senior Notes due 2023, (6) that certain Nineteenth Supplemental Indenture to the Base Indenture, dated as of July 5, 2016 (the “Nineteenth

            Supplemental Indenture”), relating to the 3.400% Senior Notes due 2027, (7) that certain Twentieth Supplemental Indenture to the Base Indenture, dated as of July 5, 2016 (the “Twentieth Supplemental Indenture”), relating to the 4.800% Senior Notes due 2046, (8) that certain Twenty-Second Supplemental Indenture to the Base Indenture, dated as of November 30, 2017 (the “Twenty-Second Supplemental Indenture”), relating to the 2.600% Senior Notes due 2020, (9) that certain Twenty-Third Supplemental Indenture to the Base Indenture, dated as of November 30, 2017
        (the “Twenty-Third Supplemental Indenture”), relating to the Floating Rate Notes due 2020 and (10) that certain Twenty-Fourth Supplemental Indenture to the Base Indenture,
        dated as of November 30, 2017 (the “Twenty-Fourth Supplemental Indenture” and, together with the Third Supplemental Indenture, the Fourth Supplemental Indenture, the
        Seventh Supplemental Indenture, the Twelfth Supplemental Indenture, the Thirteenth Supplemental Indenture, the Sixteenth Supplemental Indenture, the Seventeenth Supplemental Indenture, the Eighteenth Supplemental Indenture, the Nineteenth
        Supplemental Indenture, the Twentieth Supplemental Indenture, the Twenty-Second Supplemental Indenture and the Twenty-Third Supplemental Indenture, the “Supplemental Indentures”),

        relating to the 3.050% Senior Notes due 2022 (together with the 4.750% Senior Notes due 2021, the 6.125% Senior Notes due 2041, the 3.900% Senior Notes due 2022, the 2.25% Senior Notes due 2019, the 3.50% Senior Notes due 2024, the 3.300% Senior
        Notes due 2021, the 4.500% Senior Notes due 2026, the 3.000% Senior Notes due 2023, the 3.400% Senior Notes due 2027, the 4.800% Senior Notes due 2046, the 2.600% Senior Notes due 2020 and the Floating Rate Notes due 2020, the “Notes”), provides that the Company and the Trustee may enter into a supplemental indenture to make any amendment or supplement to the Base Indenture, the applicable
        Supplemental Indenture and the terms of the Notes issued thereunder, as long as that amendment or supplement does not adversely affect the interests of the Holders of any of the applicable Notes in any material respect (in each case to be evidenced
        by an Opinion of Counsel);

     

    
      
        

    

    
    WHEREAS, the Parent Guarantor is not under any obligation to guarantee any of the Company’s obligations under the Notes or the Indenture
        but desires to guarantee unconditionally all of the Company’s obligations under the Notes and the Indenture pursuant to a guarantee on the terms and conditions set forth herein; and

     

    WHEREAS, all conditions and requirements of the Indenture necessary to make this Twenty-Fifth Supplemental Indenture a valid, binding and
        legal instrument in accordance with its terms have been performed and fulfilled by the parties hereto.

     

    NOW THEREFORE, for and in consideration of the premises and other good and valuable consideration, receipt of which is hereby acknowledged
        by the parties hereto, the Parent Guarantor, the Company and the Trustee agree as follows:

     

    ARTICLE I

     

    PARENT GUARANTEE

     

    
      
        
          Section 1.01       Parent Guarantee.

        

      

    

     

    (a)          The Parent Guarantor, as primary obligor and not merely
        as surety, hereby irrevocably and fully and unconditionally guarantees to each Holder of the Notes and to the Trustee and its successor and assigns (the “Parent Guarantee”)

        on an unsecured, unsubordinated basis and equal in right of payment to all existing and future unsecured, unsubordinated indebtedness of the Parent Guarantor, the punctual payment when due of all monetary obligations of the Company under the
        Indenture and the Notes, whether for principal of or interest on the Notes.  The obligations of the Parent Guarantor hereunder shall be joint and several with the obligations of the other Guarantors pursuant to their Guarantees under the Indenture.

     

    
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    (b)          The obligations of the Parent Guarantor shall be limited
        to the maximum amount as shall, after giving effect to all other contingent and fixed liabilities of the Parent Guarantor and after giving effect to any collections from or payments made by or on behalf of any other Guarantor in respect of the
        obligations of such other Guarantor under its Guarantee, result in the obligations of the Parent Guarantor under the Parent Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable law, or being void or
        unenforceable under any law relating to insolvency of debtors.

     

    (c)          The Parent Guarantor further agrees that (to the fullest
        extent permitted by law) its obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Indenture, the Notes or the obligations of the Company or any other Guarantor hereunder or thereunder, the
        absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, any release of any other Guarantor, the recovery of any judgment against the Company, any action to enforce the same,
        or any other circumstance that might otherwise constitute a legal or equitable discharge or defense of the Parent Guarantor.

     

    (d)          The Parent Guarantor hereby waives (to the fullest
        extent permitted by law) the benefit of diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice
        and all demands whatsoever and covenants that (except as otherwise provided in Section 1.03) the Parent Guarantee shall not be discharged except by complete performance
        of the obligations contained in the Notes, the Indenture and the Parent Guarantee. The Parent Guarantee is a guarantee of payment and not of collection.

     

    
      
        
          Section 1.02       Continuing Parent Guarantee.

        

      

    

     

    (a)          The Parent Guarantee shall be a continuing guarantee and
        shall, subject to Section 1.03, (i) remain in full force and effect until payment in full of the principal amount of all Outstanding Notes (whether by payment at
        maturity, purchase, redemption, defeasance, retirement or other acquisition), (ii) be binding upon the Parent Guarantor and (iii) inure to the benefit of and be enforceable by the Trustee, the Holders and their permitted successors, transferees and
        assigns.

     

    (b)          The obligations of the Parent Guarantor hereunder shall
        continue to be effective or shall be reinstated, as the case may be, if at any time any payment which would otherwise have reduced or terminated the obligations of the Parent Guarantor hereunder and under the Parent Guarantee (whether such payment
        shall have been made by or on behalf of the Company or by or on behalf of the Parent Guarantor) is rescinded or reclaimed from any of the Holders upon the insolvency, bankruptcy, liquidation or reorganization of the Company or the Parent Guarantor
        or otherwise, all as though such payment had not been made.

     

    
      
        
          Section 1.03       Release of Parent Guarantee.

        

      

    

     

    (a)          The Parent Guarantor will be automatically and
        unconditionally released from its obligations under the Indenture and with respect to the Parent Guarantee (any of the following, a “Parent Guarantee Release Condition”):

     

      

    
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    (i)         with respect to any series of Notes,
        as applicable, if the Company exercises its legal defeasance option or its covenant defeasance option as described in Sections 12.2 and 12.3, respectively, of the Base Indenture with respect to such series of Notes or if the Company’s obligations
        under the Indenture are discharged in accordance with the terms of the Indenture in respect of such series of Notes;

     

    (ii)        with respect to all series of Notes,
        on the date upon which the Company ceases to be a Subsidiary of the Parent Guarantor that is organized or established under the laws of the United States of America, any state thereof or the District of Columbia, or upon the conveyance, transfer or
        lease of all or substantially all of the properties and assets of the Company to another Person (other than to any Subsidiary of the Parent Guarantor that is organized or established under the laws of the United States of America, any state thereof
        or the District of Columbia);

     

    (iii)       with respect to all series of Notes,
        upon either (x) the substantially simultaneous termination, release or discharge of indebtedness for borrowed money of the Company or Cigna Holding Company (formerly known as Cigna Corporation), a Delaware corporation (“CHC”) (including any release or discharge that would be conditioned on the termination, release or discharge of any guarantee or indebtedness for borrowed money) or (y) any other event or
        circumstance, in each case, as a result of which or upon which the aggregate principal amount of indebtedness for borrowed money issued or borrowed by the Company and CHC (collectively) constitutes no more than 20.0% of the aggregate principal
        amount of indebtedness for borrowed money of the Parent Guarantor and its Subsidiaries, on a consolidated basis, as of such time; or

     

    (iv)       with respect to all series of Notes,
        upon the release of the Company’s guarantee pursuant to Section 3 of that certain Supplemental Indenture No. 2, dated as of December 20, 2018, among CHC, the Company, the Parent Guarantor and U.S. Bank National Association, as trustee, to that
        certain Indenture, dated as of September 17, 2018, between the Parent Guarantor and U.S. Bank National Association, as supplemented by that certain Supplemental Indenture No. 1, dated as of September 17, 2018.

     

    (b)          At the request of the Company or the Parent Guarantor,
        and upon delivery to the Trustee of an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent under the Indenture relating to such release have been complied with, the Trustee will execute any documents
        reasonably requested by the Company or the Parent Guarantor evidencing such release.

     

    (c)          If the Parent Guarantor is released from its
        obligations hereunder pursuant to this Section 1.03, it shall cease to be the “Parent Guarantor” as defined in and for purposes hereof.

     

    (d)          For the avoidance of doubt, the terms of Section
        1.03(a)(ii) hereof shall be interpreted in a manner consistent with that set forth in Section 8.1(2) of the Base Indenture.

     

      

    
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    Section 1.04       Notation Not Required.  Neither the Company nor the Parent Guarantor shall be required to make a notation on the Notes to reflect the Parent Guarantee or any release thereof.

     

    Section 1.05       Waiver of Subrogation.  The Parent Guarantor hereby irrevocably waives any claim or other rights which it may now or hereafter acquire against the Company that arise from the existence, payment, performance or
        enforcement of the Parent Guarantor’s obligations under the Parent Guarantee and the Indenture, including, without limitation, any right of subrogation, reimbursement, exoneration, indemnification, and any right to participate in any claim or
        remedy of any Holder of Notes against the Company, whether or not such claim, remedy or right arises in equity, or under contract, statute or common law, including, without limitation, the right to take or receive from the Company, directly or
        indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim or other rights in relation to the Trustee until all monetary obligations of the Company under the Indenture and the Notes,
        whether for principal of or interest on the Notes, are paid in full. If any amount shall be paid to the Parent Guarantor in violation of the preceding sentence and the Notes shall not have been paid in full, such amount shall have been deemed to
        have been paid to the Parent Guarantor for the benefit of, and held in trust for the benefit of, the Holders of the Notes, and shall forthwith be paid to the Trustee for the benefit of such Holders to be credited and applied upon the Notes, whether
        matured or unmatured, in accordance with the terms of the Indenture. The Parent Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Indenture and that the waiver set forth in
        this Section is knowingly made in contemplation of such benefits.

     

    Section 1.06       Notices.  Notice to the Parent Guarantor shall be sufficient if addressed to the Parent Guarantor care of the Company at the address, place and manner provided in Section 1.5 of the Base Indenture.

     

       ARTICLE II

     

    MISCELLANEOUS

     

    Section 2.01       Integral Part; Effect of Supplement on Indenture.  This Twenty-Fifth Supplemental Indenture constitutes an integral part of the Indenture.  Except for the amendments and supplements made by this Twenty-Fifth
        Supplemental Indenture, the Base Indenture shall remain in full force and effect as executed.

     

    Section 2.02       Capitalized Terms.  For purposes of this Twenty-Fifth Supplemental Indenture:

     

    (a)          Capitalized terms used herein without definition shall
        have the meanings assigned to them in the Base Indenture;

     

    (b)          All references to Articles and Sections, unless
        otherwise specified, refer to the corresponding Articles and Sections of the Base Indenture; and

     

    (c)          The terms “herein,” hereof,” “hereunder” and other words
        of similar import refer to this Twenty-Fifth Supplemental Indenture.

     

    
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    Section 2.03       Adoption, Ratification and Confirmation.  The Indenture, as supplemented by this Twenty-Fifth Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed.

     

    Section 2.04       Trustee Not Responsible for Recitals.  The recitals in this Twenty-Fifth Supplemental Indenture are made by the Company, and the Trustee assumes no responsibility for the correctness of such recitals.  The Trustee makes
        no representations as to the validity or sufficiency of this Twenty-Fifth Supplemental Indenture.

     

    Section 2.05       Counterparts.  This Twenty-Fifth Supplemental Indenture may be executed in multiple counterparts, each of which shall be regarded for all purposes as an original and all of which shall constitute but one and the same
        instrument.

     

    Section 2.06       Governing Law.  This Twenty-Fifth Supplemental Indenture and the Parent Guarantee hereunder shall be governed by and construed in accordance with the laws of the State of New York.

     

    Section 2.07       Conflict with Trust Indenture Act.  If any provision of this Twenty-Fifth Supplemental Indenture limits, qualifies or conflicts with any provision of the Trust Indenture Act that is required under the Trust Indenture
        Act to be part of and govern this Twenty-Fifth Supplemental Indenture, the latter provision shall control.  If any provision of this Twenty-Fifth Supplemental Indenture modifies or excludes any provision of the Trust Indenture Act which may be so
        modified or excluded, the latter provision shall be deemed to apply to the Twenty-Fifth Supplemental Indenture as so modified or to be excluded, as the case may be.

     

    Section 2.08       FATCA. The Company confirms to the Trustee it has no knowledge that this Supplemental Indenture has resulted in a material modification of the Notes for purposes of Sections 1471 through 1474 of the Code (“FATCA”). The
        Company shall give the Trustee prompt written notice of any material modification of the Notes deemed to occur for FATCA purposes of which it has knowledge. The Trustee shall assume that no material modification for FATCA purposes has occurred
        regarding the Notes to the knowledge of the Company, unless the Trustee receives written notice of such modification from the Company.

     

    [Signature Page Follows]

     

    
      6

      
        

    

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

     

    	 	
            CIGNA CORPORATION

          
	 	

          
	 	
            By:

          	
            /s/ Timothy D. Buckley

          	 

    	 	
            

            

          	
            Name:

          	
            Timothy D. Buckley

          
	 	
            

            

          	
            Title:

          	
            Vice President and Treasurer

          

    

    

    	 	
            EXPRESS SCRIPTS HOLDING COMPANY

          

    

    

    	 	
            By:

          	
            /s/ Bradley Phillips

          	 

    	 	
            

            

          	
            Name:

          	
            Bradley Phillips

          
	 	
            

            

          	
            Title:

          	
            Vice President and Assistant Treasurer

          

    

    

    	 	
            WELLS FARGO BANK, NATIONAL ASSOCIATION, AS TRUSTEE

          

    

    

    	 	
            By:

          	
            /s/ Raymond Delli Colli

          	 

    	 	
            

            

          	
            Name:

          	
            Raymond Delli Colli

          
	 	
            

            

          	
            Title:

          	
            Vice President

          

    

    

    

    

    
      [Signature Page to Twenty-Fifth Supplemental Indenture (ESH)]

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