Document:

Amended and Restated Indenture

 Exhibit 4.3 
 EXECUTION VERSION 
  
  
  
 AMENDED AND RESTATED JUNIOR SUBORDINATED
INDENTURE 
 THE PNC FINANCIAL SERVICES GROUP, INC. 
 TO 
 THE BANK OF NEW YORK 
 TRUSTEE 
 Dated as of February 13, 2008 
  
  
  

 TABLE OF CONTENTS 
  

					
	 	 	 	 	PAGE
	ARTICLE 1
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATION
			
	 Section 1.01.
	 	Definitions	 	1
	 Section 1.02.
	 	Compliance Certificate and Opinions	 	11
	 Section 1.03.
	 	Forms of Documents Delivered to Trustee	 	12
	 Section 1.04.
	 	Acts of Holders	 	12
	 Section 1.05.
	 	Notices, Etc. to Trustee and Company	 	15
	 Section 1.06.
	 	Notice to Holders; Waiver	 	15
	 Section 1.07.
	 	Conflict with Trust Indenture Act	 	15
	 Section 1.08.
	 	Effect of Headings and Table of Contents	 	16
	 Section 1.09.
	 	Successors and Assigns	 	16
	 Section 1.10.
	 	Separability Clause	 	16
	 Section 1.11.
	 	Benefits of Indenture	 	16
	 Section 1.12.
	 	Governing Law	 	16
	 Section 1.13.
	 	Legal Holidays	 	16
	
	ARTICLE 2
	SECURITY FORMS
			
	 Section 2.01.
	 	Forms Generally	 	17
	 Section 2.02.
	 	Additional Provisions Required in Global Security	 	17
	 Section 2.03.
	 	Form of Trustee’s Certificate of Authentication	 	18
	
	ARTICLE 3
	THE SECURITIES
			
	 Section 3.01.
	 	Amount Unlimited Issuable in Series	 	19
	 Section 3.02.
	 	Denominations	 	21
	 Section 3.03.
	 	Execution, Authentication, Delivery and Dating	 	22
	 Section 3.04.
	 	Temporary Securities	 	23
	 Section 3.05.
	 	Registration, Transfer and Exchange	 	24
	 Section 3.06.
	 	Mutilated, Destroyed, Lost and Stolen Securities	 	27
	 Section 3.07.
	 	Payment of Interest; Interest Rights Preserved	 	28
	 Section 3.08.
	 	Persons Deemed Owner	 	29
	 Section 3.09.
	 	Cancellation	 	30
	 Section 3.10.
	 	Computation of Interest	 	30
	 Section 3.11.
	 	Right of Set-off	 	30
	 Section 3.12.
	 	Agreed Tax Treatment	 	30
	 Section 3.13.
	 	CUSIP Numbers	 	30

  

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	ARTICLE 4
	SATISFACTION AND DISCHARGE
			
	 Section 4.01.
	 	Satisfaction and Discharge of Indenture	 	31
	 Section 4.02.
	 	Application of Trust Money	 	32
	
	ARTICLE 5
	REMEDIES
			
	 Section 5.01.
	 	Events of Default	 	32
	 Section 5.02.
	 	Acceleration of Maturity: Rescission and Annulment	 	33
	 Section 5.03.
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	 	34
	 Section 5.04.
	 	Trustee May File Proofs of Claim	 	36
	 Section 5.05.
	 	Trustee May Enforce Claims Without Possession Of Securities	 	37
	 Section 5.06.
	 	Application of Money Collected	 	37
	 Section 5.07.
	 	Limitation on Suits	 	38
	 Section 5.08.
	 	Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Trust Preferred Securities	 	38
	 Section 5.09.
	 	Restoration of Rights and Remedies	 	39
	 Section 5.10.
	 	Rights And Remedies Cumulative	 	39
	 Section 5.11.
	 	Delay or Omission Not Waiver	 	39
	 Section 5.12.
	 	Control by Holders	 	40
	 Section 5.13.
	 	Waiver Of Past Defaults	 	40
	 Section 5.14.
	 	Undertaking for Costs	 	41
	 Section 5.15.
	 	Waiver of Stay or Extension Laws	 	41
	 Section 5.16.
	 	Notice Of Defaults	 	41
	
	ARTICLE 6
	THE TRUSTEE
			
	 Section 6.01.
	 	Certain Duties and Responsibilities	 	42
	 Section 6.02.
	 	Certain Rights of Trustee	 	43
	 Section 6.03.
	 	Not Responsible for Recitals or Issuance of Securities	 	45
	 Section 6.04.
	 	May Hold Securities	 	45
	 Section 6.05.
	 	Money Held in Trust	 	45
	 Section 6.06.
	 	Compensation and Reimbursement	 	45
	 Section 6.07.
	 	Disqualification; Conflicting Interests	 	46
	 Section 6.08.
	 	Corporate Trustee Required; Eligibility	 	46
	 Section 6.09.
	 	Resignation and Removal; Appointment of Successor	 	47
	 Section 6.10.
	 	Acceptance of Appointment by Successor	 	48
	 Section 6.11.
	 	Merger, Conversion, Consolidation or Succession to Business	 	50
	 Section 6.12.
	 	Preferential Collection of Claims Against Company	 	50
	 Section 6.13.
	 	Appointment of Authenticating Agent	 	50

  

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	ARTICLE 7
	HOLDER’S LISTS AND REPORTS BY TRUSTEE AND
COMPANY
			
	 Section 7.01.
	 	Company to Furnish Trustee Names and Addresses of Holders	 	52
	 Section 7.02.
	 	Preservation of Information, Communications to Holders	 	52
	 Section 7.03.
	 	Reports by Trustee	 	53
	 Section 7.04.
	 	Reports by Company	 	53
	
	ARTICLE 8
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
			
	 Section 8.01.
	 	Company May Consolidate, Etc. only on Certain Terms	 	54
	 Section 8.02.
	 	Successor Corporation Substituted	 	55
	
	ARTICLE 9
	SUPPLEMENTAL INDENTURES
			
	 Section 9.01.
	 	Supplemental Indentures Without Consent of Holders	 	55
	 Section 9.02.
	 	Supplemental Indentures with Consent of Holders	 	57
	 Section 9.03.
	 	Execution of Supplemental Indentures	 	59
	 Section 9.04.
	 	Effect of Supplemental Indentures	 	59
	 Section 9.05.
	 	Conformity with Trust Indenture Act	 	59
	 Section 9.06.
	 	Reference in Securities to Supplemental Indentures	 	59
	 Section 9.07.
	 	Subordination Unimpaired	 	59
	
	ARTICLE 10
	COVENANTS
			
	 Section 10.01.
	 	Payment of Principal, Premium and Interest	 	59
	 Section 10.02.
	 	Maintenance of Office or Agency	 	60
	 Section 10.03.
	 	Money for Securities Payments to be Held in Trust	 	60
	 Section 10.04.
	 	Statement as to Compliance	 	62
	 Section 10.05.
	 	Waiver of Certain Covenants	 	62
	 Section 10.06.
	 	Additional Sums	 	62
	 Section 10.07.
	 	Additional Covenants	 	63
	 Section 10.08.
	 	Payment of Expenses	 	63
	 Section 10.09.
	 	Further Assurances	 	63
	
	ARTICLE 11
	REDEMPTION OF SECURITIES
			
	 Section 11.01.
	 	Applicability of this Article	 	64
	 Section 11.02.
	 	Election to Redeem; Notice to Trustee	 	64
	 Section 11.03.
	 	Selection of Securities to be Redeemed	 	64
	 Section 11.04.
	 	Notice of Redemption	 	65
	 Section 11.05.
	 	Deposit of Redemption Price	 	66
	 Section 11.06.
	 	Payment of Securities Called for Redemption	 	66

  

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	ARTICLE 12
	SINKING FUNDS
			
	 Section 12.01.
	 	Applicability of Article	 	67
	 Section 12.02.
	 	Satisfaction of Sinking Fund Payments with Securities	 	67
	 Section 12.03.
	 	Redemption of Securities for Sinking Fund	 	67
	
	ARTICLE 13
	SUBORDINATION OF SECURITIES
			
	 Section 13.01.
	 	Agreement to Subordinate	 	69
	 Section 13.02.
	 	Default on Senior Indebtedness	 	70
	 Section 13.03.
	 	Liquidation; Dissolution; Bankruptcy	 	70
	 Section 13.04.
	 	Subrogation	 	72
	 Section 13.05.
	 	Trustee to Effectuate Subordination	 	73
	 Section 13.06.
	 	Notice by the Company	 	73
	 Section 13.07.
	 	Rights of the Trustee; Holders of Senior Indebtedness	 	74
	 Section 13.08.
	 	Subordination May Not Be Impaired	 	74
	 Section 13.09.
	 	Trustee’s Compensation Not Prejudiced	 	75
	 Section 13.10.
	 	Disclaimer of Right to Enforce Covenants	 	75
	 Section 13.11.
	 	Reliance of Judicial Order or Certificate of Liquidating Agent	 	75
	 Section 13.12.
	 	Article Applicable to Paying Agent	 	75
	
	ARTICLE 14
	REPAYMENT AT THE OPTION OF HOLDERS
			
	 Section 14.01.
	 	Applicability of Article	 	75
	 Section 14.02.
	 	Repayment Of Securities	 	76
	 Section 14.03.
	 	Exercise of Option; Notice	 	76
	 Section 14.04.
	 	Securities Payable on the Repayment Date	 	76

  

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 THE PNC FINANCIAL SERVICES GROUP, INC. 
 Certain Sections of this Indenture relating to Sections 310 through 318, inclusive, of the Trust Indenture Act of 1939: 
  

			
	 TRUST INDENTURE ACT SECTION
	 	 INDENTURE SECTION

	 § 310(a)(1), (2) and (5)
	 	6.08
	          (a)(3)
	 	Not Applicable
	          (a)(4)
	 	Not Applicable
	          (b)
	 	6.07
		 	6.09
	          (c)
	 	Not Applicable
	 § 311(a)
	 	6.12
	          (b)
	 	6.12
	 § 312(a)
	 	7.01
		 	7.02(a)
	          (b)
	 	7.02(b)
	          (c)
	 	7.02(c)
	 § 313(a)
	 	7.03(a)
		 	7.03(b)
	          (b)
	 	7.03(b)
	          (c)
	 	7.03(a), 7.03(b)
	          (d)
	 	7.03(c)
	 § 314(a)(1), (2) and (3)
	 	7.04
	          (a)(4)
	 	10.04
	          (b)
	 	Not Applicable
	          (c)(1)
	 	1.02
	          (c)(2)
	 	1.02
	          (c)(3)
	 	Not Applicable
	          (d)
	 	Not Applicable
	          (e)
	 	1.02
	          (f)
	 	Not Applicable
	 § 315(a)
	 	6.01
	          (b)
	 	5.16
	          (c)
	 	6.01
	          (d)
	 	6.01
	          (e)
	 	5.14
	 § 316(a)
	 	1.01
	          (a)(1)(A)
	 	5.12
	          (a)(1)(B)
	 	5.13
	          (a)(2)
	 	Not Applicable
	          (b)
	 	5.08
	          (c)
	 	1.04(f)
	 § 317(a)(1)
	 	5.03

  

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	 TRUST INDENTURE ACT SECTION
	 	 INDENTURE SECTION

	          (a)(2)
	 	5.04
	          (b)
	 	10.03
	 § 318(a)
	 	1.07

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

 

 vi 

 AMENDED AND RESTATED JUNIOR
SUBORDINATED INDENTURE, dated as of February 13, 2008, between THE PNC FINANCIAL SERVICES GROUP, INC., a
corporation duly organized and existing under the laws of the Commonwealth of Pennsylvania, having its principal office at One PNC Plaza, 249 Fifth Avenue, Pittsburgh, Pennsylvania, 15222-2707, and THE BANK
OF NEW YORK, a banking corporation duly organized and existing under the laws of the State of New York, as trustee 
 RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured junior subordinated debt securities in series (hereinafter called the “Securities”)
of substantially the tenor hereinafter provided, including, without limitation, Securities issued to evidence loans made to the Company of the proceeds from the issuance from time to time by one or more statutory trusts (each a “PNC
Trust,” and, collectively, the “PNC Trusts”) of preferred trust interests in such PNC Trusts (the “Trust Preferred Securities”) and common interests in such PNC Trusts (the “Common
Securities” and, collectively with the Trust Preferred Securities, the “Trust Securities”), and to provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered. 
 All things necessary to make the Securities, when executed by the Company and authenticated and delivered hereunder and duly issued by the Company, the
valid obligations of the Company, and to make this Indenture a valid agreement of the Company, in accordance with their and its terms, have been done. 
 NOW THEREFORE, THIS INDENTURE WITNESSETH: For and in consideration of the premises and the purchase of the Securities by
the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 
 ARTICLE 1 
 DEFINITIONS AND OTHER PROVISIONS
OF GENERAL APPLICATION 
 Section 1.01. Definitions. For all purposes of this
Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
 (a) the terms defined in this Article have the
meanings assigned to them in this Article, and include the plural as well as the singular; 

 (b) all other terms used herein that are defined in the Trust Indenture Act, either directly or by
reference therein, have the meanings assigned to them therein; 
 (c) all accounting terms not otherwise defined herein have the meanings
assigned to them in accordance with generally accepted accounting principles, and the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles
that are generally accepted at the date or time of such computation; provided that when two or more principles are so generally accepted, it shall mean that set of principles consistent with those in use by the Company; 
 (d) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and
not to any particular Article, Section or other subdivision; 
 (e) unless the context otherwise requires, any reference to an
“Article,” a “Section” or a “Subsection” refers to an Article, Section or Subsection, as the case may be, of this Indenture; 
 (f) if (i) in performing its duties under this Indenture the Trustee is required to decide between alternative courses of action or (ii) in construing any of the provisions of this Indenture the Trustee
finds the same ambiguous or inconsistent with any other provisions contained herein or (iii) the Trustee is unsure of the application of any provision of this Indenture then, except as to any matter as to which the Holders are entitled to vote
under the terms of this Indenture and so long as no Event of Default has occurred and is continuing, the Trustee shall deliver a notice to the Company requesting written instructions of the Company as to the course of action to be taken and the
Trustee shall take such action, or refrain from taking such action, as the Trustee shall be instructed in writing to take, or to refrain from taking, by the Company; provided, however, that if the Trustee does not receive such
instructions of the Company within ten Business Days after it has delivered such notice, or such reasonably shorter period of time set forth in such notice (which to the extent practicable shall not be less than two Business Days), it may, but shall
be under no duty to, take or refrain from taking such action not inconsistent with this Indenture as it shall deem advisable and in the best interests of the Holders, in which event the Trustee shall have no liability except for its own bad faith,
gross negligence or willful misconduct; 
 (g) the permissive rights of the Trustee enumerated herein shall not be construed as duties;

 (h) no provision of this Indenture shall be deemed to impose any duty or obligation on the Trustee to perform any act or acts or exercise
any right, power, 

  

 2 

 
duty or obligation conferred or imposed on it, in any jurisdiction in which it shall be illegal, or in which the Trustee shall be unqualified or incompetent
in accordance with applicable law, to perform any such act or acts, or to exercise any such right, power, duty or obligation. 
 “Act” when used with respect to any Holder has the meaning specified in Section 1.04(a). 
 “Additional Interest” means the interest, if any, that shall accrue on any interest on the Securities of any series the payment of which has not been made on the applicable Interest Payment Date and that shall accrue at the
rate per annum specified or determined as specified in such Security. 
 “Additional Sums” has the meaning specified
in Section 10.06. 
 “Additional Taxes” means the sum of any additional taxes, duties, assessments or governmental
charges of whatever nature, other than withholding taxes, imposed by the United States, or any other taxing authority. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition,
“control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the
terms “controlling” and “controlled” have meanings correlative to the foregoing. 
 “Authenticating
Agent” means any Person authorized by the Trustee pursuant to Section 6.13 to act on behalf of the Trustee to authenticate Securities of one or more series. 
 “Authorized Newspaper” means a newspaper of general circulation in the relevant area, printed in the English language and customarily published on each Business Day, whether or not published on
Saturdays, Sundays or holidays. Whenever successive weekly publications in an Authorized Newspaper are required hereunder, they made be made (unless expressly provided herein) on the same or different days of the week and in the same or in different
Authorized Newspapers. 
 “Board of Directors” means either the board of directors of the Company or any committee of that
board duly authorized to act hereunder. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
  

 3 

 “Business Day” means any day other than a Saturday, Sunday or any other day on which
banking institutions in the City of New York, New York, the City of Pittsburgh, Pennsylvania, the Commonwealth of Pennsylvania or the City of Wilmington, Delaware are authorized or obligated by any applicable law, regulation or executive order to
close. 
 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the
Exchange Act, or if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties on such date. 
 “Common Securities” has the meaning specified in the first recital of this Indenture. 
 “Company” means The PNC Financial Services Group, Inc. until a successor Person shall have become such pursuant to the applicable
provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 
 “Company Request” or
“Company Order” means a written request or order signed in the name of the Company by its Chairman or any Vice Chairman of the Board of Directors, President or a Vice President, and by its Treasurer, an Assistant Treasurer,
Controller, an Assistant Controller, Secretary or an Assistant Secretary, and delivered to the Trustee. 
 “Corporate Trust
Office” means the principal office of the Trustee at which at any particular time its corporate trust business shall be administered, which on the date hereof is located at 101 Barclay Street, Floor 8 West, New York, New York 10286.

 “corporation” includes a corporation, association, company, joint-stock company or business trust. 
 “Defaulted Interest” has the meaning specified in Section 3.07. 
 “Depositary” means, with respect to the Securities of any series issuable or issued in whole or in part in the form of one or more
Global Securities, the Person designated as Depositary by the Company pursuant to Section 3.01 with respect to such series (or any successor thereto). 
 “Discount Security” means any security that provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to
Section 5.02. 
  

 4 

 “Distributions,” with respect to the Trust Securities issued by a PNC Trust, means
amounts payable in respect of such Trust Securities as provided in the related Trust Agreement and referred to therein as “Distributions.” 
 “Dollar” means the currency of the United States of America that, as at the time of payment, is legal tender for the payment of public and private debts. 
 “DTC” means The Depository Trust Company. 
 “Enforcement Event” unless otherwise specified in a supplemental indenture creating a series of Securities has the meaning specified in Section 5.03. 
 “Event of Default” unless otherwise specified in a supplemental indenture creating a series of Securities has the meaning specified in
Section 5.01. 
 “Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in each
case as amended from time to time. 
 “Federal Reserve” means the Board of Governors of the Federal Reserve System, as from
time to time constituted, or if at any time after the execution of this Indenture the Federal Reserve is not existing and performing the duties now assigned to it, then the bodies performing such duties at such time, or any successor Federal bank
regulatory agency having primary jurisdiction over the Company. 
 “Global Security” means a Security evidencing all or part
of a series of Securities, issued to the Depositary or its nominee for such series, and registered in the name of such Depositary or its nominee. 
 “Holder” means a Person in whose name a Security is registered in the Securities Register. 
 “Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and
shall include the terms of each particular series of Securities established as contemplated by Section 3.01. 
 “Interest
Payment Date” means as to each series of Securities the Stated Maturity of an installment of interest on such Securities. 
 “Investment Company Act” means the Investment Company Act of 1940, as amended. 
 “Maturity” when
used with respect to any Security means the date on which the principal of such Security or an installment of principal becomes due 

  

 5 

 
and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption, repayment at the option of
the Holder or otherwise. 
 “Notice of Default” means a written notice of the kind specified in Section 5.16.

 “Officers’ Certificate” means a certificate signed by the Chairman or any Vice Chairman of the Board of Directors,
President or a Vice President, and by its Treasurer, an Assistant Treasurer, Controller, an Assistant Controller, Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company and who shall be acceptable to the Trustee.

 “Original Issue Date” means the date of issuance specified as such in each Security. 
 “Outstanding” means, when used in reference to any Securities, as of the date of determination, all Securities theretofore authenticated
and delivered under this Indenture, except: 
 (i) Securities theretofore cancelled by the Trustee or delivered to the Trustee
for cancellation; 
 (ii) Securities for whose payment or redemption money in the necessary amount has been theretofore
deposited with the Trustee or any Paying Agent in trust for the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor
satisfactory to the Trustee has been made; and 
 (iii) Securities in substitution for or in lieu of which other Securities
have been authenticated and delivered or that have been paid pursuant to Section 3.06, unless proof satisfactory to the Trustee is presented that any such Securities are held by Holders in whose hands such Securities are valid, binding and
legal obligations of the Company; 
 provided, however, that in determining whether the Holders of the requisite principal amount of
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, (A) the principal amount of a Discount Security that shall be deemed to be Outstanding shall be the amount of the principal
thereof that would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 5.02, (B) if, as of such date, the principal amount payable at the Stated Maturity of a 

  

 6 

 
Security is not determinable, the principal amount of such Security that shall be deemed to be Outstanding shall be the amount as specified or determined as
contemplated by Section 3.01, (C) the principal amount of a Security denominated in one or more foreign currencies or currency units that shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in
the manner provided as contemplated by Section 3.01, of the principal amount of such Security (or, in the case of a Security described in Clause (A) or (B) above, of the amount determined as provided in such Clause), and
(D) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company (other than a PNC Trust) or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining
whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities that a Responsible Officer of the Trustee actually knows through written evidence received by it to
be so owned shall be so disregarded. Securities so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such
Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company (other than a PNC Trust) or such other obligor. Upon the written request of the Trustee, the Company shall furnish to the
Trustee promptly an Officers’ Certificate listing and identifying all Securities, if any, known by the Company to be owned or held by or for the account of the Company, or any other obligor on the Securities or any Affiliate of the Company
(other than a PNC Trust) or such obligor, and, subject to the provisions of Section 6.01, the Trustee shall be entitled to accept such Officers’ Certificate as conclusive evidence of the facts therein set forth and of the fact that all
Securities not listed therein are Outstanding for the purpose of any such determination. 
 “Paying Agent” means the Trustee
or any Person authorized by the Company to pay the principal of (and premium, if any) or interest on any Securities on behalf of the Company. 
 “Person” means a legal person, including any individual, corporation, estate, partnership, joint venture, limited liability company, trust, unincorporated organization or government or any agency or political subdivision
thereof or any other entity of whatever nature. 
 “Place of Payment” means, with respect to the Securities of any series,
the place or places where the principal of (and premium, if any) and interest on the Securities of such series are payable pursuant to Section 3.01. 
 “PNC Guarantee” means the guarantee by the Company of Distributions to the extent provided in a guarantee agreement. 
  

 7 

 “PNC Standard Trust” means each of PNC Capital Trust C, PNC Capital Trust D, or any
other similar trust created for the purpose of issuing preferred securities (other than enhanced trust preferred securities) in connection with the issuance of junior subordinated debt securities under the junior subordinated debt indentures dated
as of May 19, 1997 and June 9, 1998, between the Company and Deutsche Bank Trust Company Americas, successor to Bankers Trust Company, as trustee, as the same has been or may be amended, modified, or supplemented from time to time.

 “PNC Trust” has the meaning specified in the first recital of this Indenture. 
 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security; and, for the purposes of this definition, any security authenticated and delivered under Section 3.06 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Property Trustee” means, in respect of any
PNC Trust, the commercial bank or trust company identified as the “Property Trustee” in the related Trust Agreement, solely in its capacity as Property Trustee of such PNC Trust under such Trust Agreement and not in its individual
capacity, or its successor in interest in such capacity, or any successor Property Trustee appointed as therein provided. 
 “Redemption Date,” when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price,” when used with respect to any Security to be redeemed, means the price at which it is to be redeemed pursuant to
this Indenture. 
 “Regular Record Date” for the interest payable on any Interest Payment Date with respect to the
Securities of a series means, unless otherwise provided pursuant to Section 3.01 with respect to Securities of a series, the date that is the last day of the month immediately preceding the month in which such Interest Payment Date falls
(whether or not a Business Day). 
 “Repayment Date,” when used with respect to any Security to be repaid upon exercise of
an option for repayment by the Holder, means the date specified for such repayment pursuant to this Indenture. 
  

 8 

 “Repayment Price,” when used with respect to any Security to be repaid upon exercise of
an option for repayment by the Holder, means the price at which it is to be repaid pursuant to this Indenture. 
 “Responsible
Officer” means, when used with respect to the Trustee, any officer assigned to the Corporate Trust Office of the Trustee having direct responsibility for the administration of this Indenture, and also, with respect to a particular corporate
trust matter, any other officer, to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 
 “Securities” or “Security” means any debt securities or debt security, as the case may be, authenticated and delivered under this Indenture. 
 “Securities Act” means the Securities Act of 1933 (or any successor statute), as it may be amended from time to time. 
 “Securities Register” and “Securities Registrar” have the respective meanings specified in Section 3.05.

 “Senior Indebtedness” means with respect to the Company: (1) the principal, premium, if any, and interest in respect
of (a) indebtedness for money borrowed and (b) indebtedness evidenced by securities, notes, debentures, bonds or other similar instruments issued, assumed or guaranteed by the Company including without limitation (i) all guarantees by
the Company of indebtedness (whether now or hereafter outstanding) of PNC Funding Corp issued under the indenture, dated as of December 1, 1991, among PNC Funding Corp, as issuer, the Company, as Guarantor, and The Bank of New York, successor
to Manufacturers Hanover Trust Company, as trustee, as the same has been or may be amended, modified, or supplemented from time to time, (ii) all guarantees by the Company of indebtedness (whether now or hereafter outstanding) issued under the
indenture, dated as of June 30, 2005, among PNC Funding Corp, as issuer, the Company, as Guarantor, and The Bank of New York, successor to JPMorgan Chase Bank, N.A., as trustee, as the same has been or may be amended, modified, or supplemented
from time to time, (iii) all guarantees by the Company of indebtedness (whether now or hereafter outstanding) issued under the indenture, dated as of December 20, 2006, among PNC Funding Corp, as issuer, the Company, as Guarantor, and The
Bank of New York, as trustee, as the same has been or may be amended, modified, or supplemented from time to time, (iv) all indebtedness (whether now or hereafter outstanding) issued to a PNC Standard Trust under the junior subordinated
indenture, dated as of May 19, 1997 and June 9, 1998 between the Company and Deutsche Bank Trust Company Americas, successor to Bankers Trust Company, as trustee, as the same has been or may be amended, modified or supplemented from time
to time (the indentures referred to in (iv) above are referred to as the “prior junior subordinated debt indentures”), 

  

 9 

 
and (v) any guarantee entered into by the Company in respect of any preferred securities, capital securities or preference stock of a PNC Standard Trust
to which the Company issued any indebtedness under the prior junior subordinated debt indentures; (2) all capital lease obligations of the Company; (3) all obligations of the Company issued or assumed as the deferred purchase price of
property, all conditional sale obligations of the Company and all obligations of the Company under any conditional sale or title retention agreement (but excluding trade accounts payable in the ordinary course of business); (4) all obligations,
contingent or otherwise, of the Company in respect of any letters of credit, bankers acceptance, security purchase facilities or similar credit transactions; (5) all obligations of the Company in respect of interest rate swap, cap or other
agreements, interest rate future or option contracts, currency swap agreements, currency future or option contracts and other similar agreements; (6) all obligations of the type referred to in clauses (1) through (5) above of other
Persons for the payment of which the Company is responsible or liable as obligor, guarantor or otherwise; and (7) all obligations of the type referred to in clauses (1) through (6) above of other Persons secured by any lien on any
property or asset of the Company, whether or not such obligation is assumed by the Company, except that Senior Indebtedness will not include obligations in respect of (A) any other indebtedness issued under this Indenture, (B) any
guarantee entered into by the Company in respect of any capital securities issued by a PNC Standard Trust; (C) any indebtedness or any guarantee that is by its terms subordinated to, or ranks equally with, the Securities and the issuance of
which does not at the time of issuance prevent the Securities from qualifying for tier 1 capital treatment (irrespective of any limits on the amount of the Company’s tier 1 capital) under applicable capital adequacy guidelines, regulations,
policies, published interpretations, or the concurrence or approval of the Federal Reserve; and (D) trade accounts payable and other accrued liabilities arising in the ordinary course of business. 
 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.07.

 “Stated Maturity” when used with respect to any Security or any installment of principal thereof or interest thereon
means the date specified pursuant to the terms of such Security as the date on which the principal of such Security or such installment of interest is due and payable, in the case of such principal, as such date may be shortened or extended as
provided pursuant to the terms of such Security and this Indenture. 
 “Subsidiary” means a corporation more than 50% of the
outstanding voting stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For purposes of this definition, “voting stock” means stock that
ordinarily has voting power for the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 
  

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 “Trust Agreement” means the Trust Agreement (or an Amended and Restated Trust Agreement)
under which a PNC Trust is created and providing for the issuance of Trust Securities by such PNC Trust, in each case as amended from time to time. 
 “Trustee” means The Bank of New York until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then
a Trustee hereunder and, if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbb), as amended and as in effect on the
date as of this Indenture, except as provided in Section 9.05. 
 “Trust Preferred Securities” has the meaning
specified in the first recital of this Indenture. 
 “Trust Securities” has the meaning specified in the first recital of
this Indenture. 
 “Vice President” when used with respect to the Company means any duly appointed vice president, whether
or not designated by a number or a word or words added before or after the title “vice president.” 
 Section 1.02.
Compliance Certificate and Opinions. Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all
conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied
with. 
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than the
certificates provided pursuant to Section 10.04) shall include: 
 (a) a statement that each individual signing such certificate or
opinion has read such covenant or condition and the definitions herein relating thereto; 
  

 11 

 (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 each such individual,
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, in the opinion of each such individual, such condition or covenant has been complied with. 
 Section 1.03. Forms of Documents Delivered to Trustee. In any case where several matters are required to be certified by, or covered by an
opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an
opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous.
Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such
factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other
instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Section 1.04. Acts of Holders.
(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments is or are delivered to
the Trustee, and, where it is 

  

 12 

 
hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes
referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject
to Section 6.01) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 
 (b) The fact and
date of the execution by any Person of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 
 (c) The ownership of Securities shall be proved by the Securities Register. 
 (d) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of
the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of any action taken, omitted or suffered to be taken by the Trustee or the Company in reliance
thereon, whether or not notation of such action is made upon such Security. 
 (e) The Company may set any day as a record date for the
purpose of determining the Holders of Outstanding Securities of any series entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given,
made or taken by Holders of Securities of such series, provided that the Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or
direction referred to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action,
whether or not such Holders remain Holders after such record date, provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date (as hereinafter in this Section provided) by Holders of
the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously
been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action
taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at 

  

 13 

 
its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Trustee in
writing and to each Holder of Securities of the relevant series in the manner set forth in Section 1.06. 
 The Trustee may set any day
as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in
Section 5.02, (iii) any request to institute proceedings referred to in 5.07(2) or (iv) any direction referred to in Section 5.12, in each case with respect to Securities of such series. If any record date is set pursuant to this
paragraph, the Holders of Outstanding Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after such record
date, provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in
this paragraph shall be construed to prevent the Trustee from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with
no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date
such action is taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given
to the Company in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 1.06. 
 With respect to any record date set pursuant to this Section, the party hereto that sets such
record dates may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day, provided that no such change shall be effective unless notice of the proposed new
Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 1.06, on or prior to the existing Expiration Date. If an Expiration Date is not designated
with respect to any record date set pursuant to this Section, the party hereto that set such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration Date with respect thereto, subject to its
right to change the Expiration Date as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day
after the applicable record date. 
 (f) Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with
regard to any particular Security may do so with regard 

  

 14 

 
to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with
regard to all or any part of such principal amount. 
 Section 1.05. Notices, Etc. to Trustee and Company. Any request, demand,
authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 
 (a) the Trustee by any Holder, any holder of Trust Preferred Securities or the Company shall be sufficient for every purpose hereunder if made, given,
furnished or filed in writing to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Administration, or 
 (b) the
Company by the Trustee, any Holder or any holder of Trust Preferred Securities shall be sufficient for every purpose (except as otherwise herein expressly provided) hereunder if in writing and mailed, first class, postage prepaid, to the Company
addressed to it at the address of its principal office specified in the first paragraph of this instrument or at any other address previously furnished in writing to the Trustee by the Company. 
 Section 1.06. Notice to Holders; Waiver. Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently
given (unless otherwise herein expressly provided) if in writing and mailed, first class postage prepaid, to each Holder affected by such event, at the address of such Holder as it appears in the Securities Register, not later than the latest date,
and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall
affect the sufficiency of such notice with respect to other Holders. In case, by reason of the suspension of or irregularities in regular mail service or for any other reason, it shall be impossible or impracticable to mail notice of any event to
Holders when said notice is required to be given pursuant to any provision of this Indenture or of the relevant Securities, then any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be a sufficient giving of
such notice. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice.
Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 Section 1.07. Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with a provision of the Trust
Indenture Act that is required or deemed under such Act to be a part of and govern this Indenture, the required or deemed provision shall control. If any provision of this Indenture 

  

 15 

 
modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded under such Act, the modified or excluded provision shall be
deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 
 Section 1.08. Effect of Headings and Table
of Contents. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
 Section 1.09. Successors and Assigns. All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, receivers, trustees and representatives, whether so expressed or
not, and shall inure to the benefit of the Holders of the Securities then Outstanding. 
 Section 1.10. Separability Clause. 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; provided, however, that
if any excluded paragraph shall affect the rights, immunities, duties or obligations of the Trustee, the Trustee shall be entitled to resign immediately, subject to Section 6.10. 
 Section 1.11. Benefits of Indenture. Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than
the parties hereto and their successors hereunder, the holders of Senior Indebtedness and assigns, the holders of the Trust Preferred Securities and the Holders of the Securities, any benefit or any legal or equitable right, remedy or claim under
this Indenture. 
 Section 1.12. Governing Law. This Indenture and the Securities shall be governed by and construed and
interpreted in accordance with the laws of the State of New York, and all rights and remedies shall be governed by such laws without regard to principles of conflict of laws. 
 Section 1.13. Legal Holidays. In any case where any Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity of any Security
shall not be a Business Day at any Place of Payment, then notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security that specifically states that such provision shall apply in lieu of this
Section) payment of interest or principal (and premium, if any) need not be made on such date, but may be made on the next succeeding Business Day at such Place of Payment (and no interest shall accrue for the period from and after such Interest
Payment Date, Redemption Date, Repayment Date or Stated Maturity, as the case may be, until such next succeeding Business Day). 
  

 16 

 ARTICLE 2 
 SECURITY FORMS 
 Section 2.01. Forms Generally. The Securities of
each series shall be in substantially the forms established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are
required or permitted by this Indenture and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with applicable tax laws or the rules of any securities exchange
or Depositary therefor or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution thereof (but in no event will such legends or endorsements affect the rights, duties or immunities of
the Trustee). If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and
delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 3.03 with respect to the authentication and delivery of such Securities. 
 The definitive Securities shall be printed, lithographed or engraved or produced by any combination of these methods, if required by any securities
exchange on which the Securities may be listed, on a steel engraved border or steel engraved borders or may be produced in any other manner permitted by the rules of any securities exchange on which the Securities may be listed, all as determined by
the officers executing such Securities, as evidenced by their execution of such Securities. 
 Securities distributed to holders of Trust
Preferred Securities in book-entry form shall be distributed in the form of one or more Global Securities registered in the name of a Depositary or its nominee, and deposited with the Securities Registrar, as custodian for such Depositary, or held
by such Depositary, for credit by the Depositary to the respective accounts of the beneficial owners of the Securities represented thereby (or such other accounts as they may direct). Securities distributed to holders of Trust Preferred Securities
held in non book-entry definitive form shall not be issued in the form of a Global Security or any other form intended to facilitate book-entry trading in beneficial interests in such Securities. 
 Section 2.02. Additional Provisions Required in Global Security. Unless otherwise specified as contemplated by Section 3.01 for the
Securities evidenced thereby, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form: 
  

 17 

 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN
SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER, CEDE & CO., HAS AN INTEREST HEREIN. 
 Section 2.03. Form of Trustee’s Certificate of Authentication. The Trustee’s certificate of authentication shall be substantially in the following form: 
 This is one of the Securities of the series of Securities referred to in the within mentioned Indenture. 
  

			
	 THE BANK OF NEW YORK,
 Not in its individual capacity but solely as Trustee

		
	By:	 	  

		 	Authorized Officer

  

 18 

 ARTICLE 3 
 THE SECURITIES 
 Section 3.01. Amount Unlimited 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. There shall be established in or pursuant to a Board Resolution, and, subject to Section 3.03, set forth, or determined in the manner provided, in an Officers’ Certificate, or established in one or more
indentures supplemental hereto, prior to the issuance of Securities of any series: 
 (a) the title of the Securities of such series, which
shall distinguish the Securities of the series from all other Securities; 
 (b) the limit, if any, upon the aggregate principal amount of
the Securities of such series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series
pursuant to Section 3.04, 3.05, 3.06, 9.06, 11.06 or 14.03 and except for any Securities that, pursuant to Section 3.03, are deemed never to have been authenticated and delivered hereunder); provided, however, that the
authorized aggregate principal amount of such series may be increased above such amount by a Board Resolution to such effect; 
 (c) the
Stated Maturity or Maturities on which the principal of the Securities of such series is payable or the method of determination thereof; 
 (d) the rate or rates, if any, at which the Securities of such series shall bear interest, the rate or rates and extent to which Additional Interest, if any, shall be payable in respect of any Securities of such series, or the method or
methods by which such rate or rates may be determined, whether payment of interest will be contingent in any respect and/or the interest rate reset, the date or dates from which such interest or Additional Interest shall accrue, the Interest Payment
Dates on which such interest shall be payable, the right of the Company to defer or extend an Interest Payment Date, the Regular Record Date for the interest payable on any Security on any Interest Payment Date and other circumstances, if any, in
which the Company may defer interest payments, or the method by which any of the foregoing shall be determined; 
 (e) if applicable, the
remarketing or extension features of the Securities of the series; 
  

 19 

 (f) the place or places where the principal of (and premium, if any) and interest on the Securities of
such series shall be payable, the place or places where the Securities of such series may be presented for registration of transfer or exchange, and the place or places where notices and demands to or upon the Company in respect of the Securities of
such series may be made; 
 (g) the period or periods within or the date or dates on which, if any, the price or prices at which and the
terms and conditions upon which the Securities of such series may be redeemed, in whole or in part, at the option of the Company; 
 (h) the
obligation or the right, if any, of the Company to redeem, repay or purchase the Securities of such series pursuant to any sinking fund, amortization or analogous provisions, or at the option of a Holder thereof, and the period or periods within
which, the price or prices at which, the currency or currencies (including currency unit or units) in which and the other terms and conditions upon which Securities of the series shall be redeemed, repaid or purchased, in whole or in part, pursuant
to such obligation; 
 (i) the denominations in which any Securities of such series shall be issuable, if other than denominations of $1,000
and any integral multiple of $1,000 in excess thereof; 
 (j) if other than Dollars, the currency or currencies (including currency unit or
units) in which the principal of (and premium, if any) and interest, if any, on the Securities of the series shall be payable, or in which the Securities of the series shall be denominated and the manner of determining the equivalent thereof in
Dollars for purposes of the definition of Outstanding; 
 (k) the additions, modifications or deletions, if any, in the Events of Default,
Enforcement Events or covenants of the Company set forth herein with respect to the Securities of such series; 
 (l) if other than the
principal amount thereof, the portion of the principal amount of Securities of such series that shall be payable upon declaration of acceleration of the Maturity thereof; 
 (m) any index or indices used to determine the amount of payments of principal of and premium, if any, on the Securities of such series or the manner in which such amounts will be determined; 
 (n) whether the Securities of the series, or any portion thereof, shall initially be issuable in the form of a temporary Global Security representing all
or such portion of the Securities of such series and provisions for the exchange of such temporary Global Security for definitive Securities of such series; 
  

 20 

 (o) if applicable, that any Securities of the series shall be issuable in whole or in part in the form of
one or more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends that shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 2.02
and any circumstances in addition to or in lieu of those set forth in Section 3.05 in which any such Global Security may be exchanged in whole or in part for Securities registered, and any transfer of such Global Security in whole or in part
may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof; 
 (p) the
appointment of any Paying Agent or Agents for the Securities of such series; 
 (q) the terms of any right to convert or exchange Securities
of such series into any other securities or property of the Company, and the additions or changes, if any, to this Indenture with respect to the Securities of such series to permit or facilitate such conversion or exchange; 
 (r) if applicable, the PNC Trust, Trust Agreement and PNC Guarantee relating to the Securities of such series; 
 (s) if other than as set forth in this Indenture, any terms with respect to subordination of such Securities, including, without limitation, the
definition of “Senior Indebtedness”; 
 (t) any provisions relating to covenant defeasance or legal defeasance of the Securities of
such Series; 
 (u) any other terms of the Securities of such series (which terms shall not be inconsistent with the provisions of this
Indenture). 
 All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be
provided herein or in or pursuant to such Board Resolution and set forth in such Officers’ Certificate or in any such indenture supplemental hereto. 
 If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the
Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series. 
 Section 3.02. Denominations. The Securities of each series shall be in registered form without coupons and shall be issuable in denominations of $1,000 and any integral multiple of $1,000 in excess thereof, unless otherwise
specified as contemplated by Section 3.01. 
  

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 Section 3.03. Execution, Authentication, Delivery and Dating. The Securities shall be
executed on behalf of the Company by any Vice Chairman of the Board its President or one of its Vice Presidents and attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual
or facsimile. 
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company
shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. At any time and
from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of
such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If the form or terms of the Securities of the series have been established by or pursuant to one or more Board Resolutions or a
supplemental indenture as permitted by Sections 2.01 and 3.01, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive at the time
of initial delivery by the Company of Securities of such series to the Trustee for authentication, and (subject to Section 6.01) shall be fully protected in relying upon, an Opinion of Counsel stating, 
 (a) if the form of such Securities has been established by or pursuant to Board Resolution or a supplemental indenture as permitted by Section 2.01,
that such form has been established in conformity with the provisions of this Indenture; 
 (b) if the terms of such Securities have been
established by or pursuant to Board Resolution or a supplemental indenture as permitted by Section 3.01, that such terms have been established in conformity with the provisions of this Indenture; and 
 (c) that such Securities, when authenticated and delivered by or on behalf of the Trustee and issued by the Company in the manner and subject to any
conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
similar laws of general applicability relating to or affecting the enforcement or creditors’ rights and to general equity principles. 
  

 22 

 If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the
issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 
 Notwithstanding the provisions of Section 3.01 and of the preceding paragraph, if all Securities of a series are not to be originally issued at one
time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to Section 3.01 or the Company Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior to the
authentication of each Security of such series if such documents, with appropriate modifications, are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued and each document covers such
subsequent issuances. 
 Each Security shall be dated the date of its authentication. 
 No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Security a
certificate of authentication substantially in the form provided for herein executed by the Trustee by the manual signature of one of its authorized officers, and such certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall
deliver such Security to the Trustee for cancellation as provided in Section 3.09, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the
benefits of this Indenture. 
 Section 3.04. Temporary Securities. Pending the preparation of definitive Securities of any
series, the Company may execute, and upon receipt of a Company Order (together with all applicable Officers’ Certificates and Opinions of Counsel), the Trustee shall authenticate and deliver, temporary Securities that are printed, lithographed,
typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities of such series in lieu of which they are issued and with such appropriate insertions, omissions, substitutions
and other variations as the officers executing such Securities may determine, as evidenced by their execution of such Securities. 
 If
temporary Securities of any series are issued, the Company will cause definitive Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities shall be
exchangeable for definitive Securities of such series upon 

  

 23 

 
surrender of the temporary Securities of such series at the office or agency of the Company designated for that purpose without charge to the Holder. The
Company shall deliver to the Trustee a Company Order to the effect stated in the preceding sentence. After receipt by the Trustee of such Company Order, and upon surrender for cancellation of any one or more temporary Securities of any series, the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like aggregate principal amount of one or more definitive Securities of the same series, of any authorized denominations having the same Original Issue Date
and Stated Maturity and having the same terms as such temporary Securities. Until so exchanged, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such
series. 
 Section 3.05. Registration, Transfer and Exchange. The Company shall cause to be kept at each office or agency
maintained for registrations of transfers and exchanges in a Place of Payment pursuant to Section 10.02 with respect to the Securities of each series a register in which, subject to such reasonable regulations as it may prescribe, the Company
shall provide for the registration of Securities and of transfers of Securities. Each such register is herein sometimes referred to as the “Securities Register.” The Company shall designate one Person to maintain the Securities
Register for the Securities of each series on a consolidated basis, and such Person is referred to herein, with respect to such series, as the “Securities Registrar.” The Company appoints the Trustee as Securities Registrar unless
otherwise specified with respect to any particular series in accordance with Section 3.01. Anything herein to the contrary notwithstanding, the Company may designate one or more of its offices as an office in which a register with respect to
the Securities of one or more series shall be maintained, and the Company may designate itself the Securities Registrar with respect to one or more of such series. The Company may revoke any designation of a Securities Registrar theretofore made by
it. The Securities Register shall be open for inspection by the Trustee and the Company at all reasonable times. 
 Upon surrender for
registration of transfer of any Security at the office or agency of the Company designated for that purpose the Company shall execute, and, upon receipt of a Company Order, the Trustee shall authenticate and deliver, in the name of the designated
transferee or transferees, one or more new Securities of the same series of any authorized denominations, of a like aggregate principal amount, of the same Original Issue Date and Stated Maturity and having the same terms. 
 At the option of the Holder, Securities may be exchanged for other Securities of the same series of any authorized denominations, of a like aggregate
principal amount, of the same Original Issue Date and Stated Maturity and having the same terms, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company 

  

 24 

 
shall execute, and the Trustee, upon receipt of a Company Order, shall authenticate and deliver, the Securities that the Holder making the exchange is
entitled to receive. 
 All Securities issued upon any transfer or exchange of Securities shall be the valid obligations of the Company,
evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange. 
 Every Security presented or surrendered for transfer or exchange shall (if so required by the Company or the Securities Registrar) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company
and the Securities Registrar, duly executed by the Holder thereof or his attorney duly authorized in writing. 
 No service charge shall be
made to a Holder for any transfer or exchange of Securities, but the Company or the Trustee may require payment by the Holders of the Securities of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with
any transfer or exchange of Securities. 
 The provisions of Clauses (a), (b), (c) and (d) below shall apply only to Global
Securities: 
 (a) Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary designated for
such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture. 
 (b) Notwithstanding any other provision in this Indenture, no Global Security may be exchanged in whole or in part for Securities registered, and no
transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the Depositary for such Global Security or a nominee thereof unless (A) such Depositary (i) has notified the Company that it is
unwilling or unable to continue as Depositary for such Global Security and no successor Depository has been appointed within 90 days of this notice or (ii) has ceased to be a clearing agency registered under the Exchange Act at a time when the
Depositary is required to be so registered to act as depositary and no successor Depository has been appointed within 90 days after the Company has learned that the Depositary has ceased to be so registered, (B) there shall have occurred and be
continuing an Event of Default or an Enforcement Event with respect to such Global Security, (C) the Company in its sole discretion determines that such Global Security will be so exchangeable or transferable or (D) there shall exist such
circumstances, if any, in addition to or in lieu of the foregoing as have been specified for this purpose as contemplated by Section 3.01. 
  

 25 

 (c) Subject to Clause (b) above, any exchange of a Global Security for other Securities may be made
in whole or in part, and all Securities issued in exchange for a Global Security or any portion thereof shall be registered in such names as the Depositary for such Global Security shall direct. 
 (d) Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security or any portion
thereof, whether pursuant to this Section, Section 3.04, 3.06, 9.06, 11.06 or 14.03 or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such Security is registered in the name of a Person
other than the Depositary for such Global Security or a nominee thereof. 
 (e) Neither any members of, or participants in, the Depositary
nor any other Persons on whose behalf such members or participants may act shall have any rights under this Indenture with respect to any Global Security registered in the name of the Depositary or any nominee thereof, and the Depositary or such
nominee, as the case may be, may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and holder of such Global Security for all purposes whatsoever. None of the Company, the Trustee, any Paying
Agent, any Securities Registrar, any authenticating agent or any other agent of the Company or any agent of the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial
ownership interests of a Security in the form of a Global Security, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. The Company, the Trustee, any Paying Agent, any Securities Registrar and
any other agent of the Company and any agent of the Trustee shall be entitled to deal with any depositary (including any Depositary), and any nominee thereof, that is the holder of any such Global Security for all purposes of this Indenture relating
to such Global Security (including the payment of principal, premium, if any, and interest, if any, and the giving of instructions or directions by or to the owner or holder of a beneficial ownership interest in such Global Security) as the sole
holder of such Global Security and shall have no obligations to the beneficial owners thereof. None of the Company, the Trustee, any Paying Agent, any Securities Registrar or any other agent of the Company or any agent of the Trustee shall have any
responsibility or liability for any acts or omissions of any such depositary with respect to such Global Note, for the records of any such depositary, including records in respect of beneficial ownership interests in respect of any such Global
Security, for any transactions between such depositary and any members or participants in the Depositary or other participant in such depositary or between or among any such depositary, any such member or participant in the Depositary or other
participant and/or any holder or owner of a beneficial interest in such Global Security or for any transfers of beneficial 

  

 26 

 
interests in any such Global Security. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or
the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or such nominee, as the case may be, or impair, as between the Depositary, members or participants of the Depositary and any other
Person on whose behalf a member or participant of the Depositary may act, the operation of customary practices of such Persons governing the exercise of the rights of a beneficial holder of any Global Security. 
 Neither the Company nor the Trustee shall be required, pursuant to the provisions of this Section, (a) to issue, register the transfer of or
exchange any Security of any series during a period beginning at the opening of business 15 days before the day of selection for redemption of Securities pursuant to Article 11 and ending at the close of business on the day of mailing of notice of
redemption or (b) to transfer or exchange any Security so selected for redemption in whole or in part, except, in the case of any Security to be redeemed in part, any portion thereof not to be redeemed. 
 Section 3.06. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated Security is surrendered to the Trustee, the Company shall
execute and the Trustee shall, upon receipt of a Company Order, authenticate and deliver in exchange therefor a new Security of the same issue and series of like tenor and principal amount, having the same Original Issue Date and Stated Maturity,
and bearing a number not contemporaneously outstanding. 
 If there shall be delivered to the Company and to the Trustee (i) evidence to
their satisfaction of the destruction, loss or theft of any Security, and (ii) such security 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 protected purchaser, the Company shall execute and upon a Company Order the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the
same issue and series of like tenor and principal amount, having the same Original Issue Date and Stated Maturity as such destroyed, lost or stolen Security, 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 and the
Trustee may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
  

 27 

 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 with any and all other Securities of that series duly issued hereunder. 
 The provisions of this Section are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 3.07. Payment of Interest; Interest Rights Preserved. Interest on any Security of any series that is payable, and is punctually paid
or duly provided for, on any Interest Payment Date, shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest in respect of
Securities of such series, except that, unless otherwise provided in the Securities of such series, interest payable on the Stated Maturity of the principal of a Security shall be paid to the Person to whom principal is paid. The initial payment of
interest on any Security of any series that is issued between a Regular Record Date and the related Interest Payment Date shall be payable as provided in such Security or in the Board Resolution or Officers’ Certificate pursuant to
Section 3.01 with respect to the related series of Securities. 
 Any interest on any Security that is payable, but is not timely paid
or duly provided for, on any Interest Payment Date for Securities of such series (herein called “Defaulted Interest”), shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of
having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in Clause (a) or (b) below: 
 (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series in respect of which interest is in default (or their respective Predecessor Securities)
are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed
to be paid on each Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall
make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided.
Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest that shall be not more than 15 days and not less than 10 

  

 28 

 
days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee
shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first class,
postage prepaid, to each Holder of a Security of such series at the address of such Holder as it appears in the Securities Register not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of
business on such Special Record Date and shall no longer be payable pursuant to the following Clause (b). 
 (b) The Company may make payment
of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of the series in respect of which interest is in default may be listed and, upon such notice as may be
required by such exchange (or by the Trustee if the Securities are not listed), if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such manner payment shall be deemed practicable by the
Trustee. 
 Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon transfer of or in exchange
for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 
 Section 3.08. Persons Deemed Owner. The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name any Security is registered as the owner of such Security for the
purpose of receiving payment of principal of and any premium and (subject to Section 3.07) any interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor
any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 No holder of any beneficial interest in any Global
Security held on its behalf by a Depositary shall have any rights under this Indenture with respect to such Global Security, and such Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the owner of
such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other
authorization furnished by a Depositary or impair, as between a Depositary and such holders of beneficial interests, the operation of customary practices governing the exercise of the rights of the Depositary (or its nominee) as Holder of any
Security. 
  

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 Section 3.09. Cancellation. All Securities surrendered for payment, redemption, repayment,
transfer or exchange shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and Securities surrendered directly to the Trustee for any such purpose shall be promptly cancelled by it. The
Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder that the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled
by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities shall be destroyed by the Trustee and
the Trustee shall deliver to the Company a certificate of such destruction. Where the Securities are held in global form and to the extent less than all of the Securities are to be cancelled, the Security Registrar’s notation of such
cancellation on its books and records shall be deemed to satisfy any cancellation obligation herein. 
 Section 3.10. Computation of
Interest. Except as otherwise specified as contemplated by Section 3.01 for Securities of any series, interest on the Securities of each series for any partial period shall be computed on the basis of a 360-day year of twelve 30-day months
and the actual days elapsed in a partial month in such period and will include the first day but exclude the last day of such period. 
 Section 3.11. Right of Set-off. With respect to the Securities of a series issued to a PNC Trust, notwithstanding anything to the contrary herein, the Company shall have the right to set-off any payment it is otherwise required
to make thereunder in respect of any such Security to the extent the Company has theretofore made, or is concurrently on the date of such payment making, a payment under the PNC Guarantee relating to such Security or under Section 5.08 hereof.

 Section 3.12. Agreed Tax Treatment. Each Security issued hereunder shall provide that the Company and, by its acceptance of a
Security or a beneficial interest therein, the Holder of, and any Person that acquires a beneficial interest in, such Security agree to treat for U.S. federal, state and local tax purposes such Security as indebtedness of the Company and to treat
for U.S. federal income tax purposes stated interest on the Security as ordinary interest income that is includible in gross income to such Holder or other Person at the time the interest is paid or accrued in accordance with its regular method of
tax accounting. 
 Section 3.13. CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers (if then
generally in use), and, if so, the Trustee or its 

  

 30 

 
designee shall use “CUSIP” numbers in notices of redemption or other related material as a convenience to Holders; provided that any such
notice or other related material may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of redemption or other related material and that reliance may be placed
only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee of any change in the CUSIP numbers.

 ARTICLE 4 
 SATISFACTION AND DISCHARGE 
 Section 4.01. Satisfaction and Discharge of
Indenture. This Indenture shall, upon Company Request, cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of Securities herein expressly provided for and as otherwise provided in this
Section) and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 
 (a) either 
 (i) all Securities theretofore authenticated and delivered (other than
(A) Securities that have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.06 and (B) Securities for whose payment money has theretofore been deposited in trust or segregated and held in
trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.03) have been delivered to the Trustee for cancellation; or 
 (ii) 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 of the date of deposit, or 
 (C) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the case of Clause 4.01(a)(ii)(A), (B) or (C) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for

  

 31 

 
such purpose an amount in the currency or currencies in which the Securities of such series are payable sufficient to pay and discharge the entire
indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal (and premium, if any) and interest (including any Additional Interest) to the date of such deposit (in the case of Securities that have become
due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 
 (b) the Company has paid or caused to be paid all other
sums payable hereunder by the Company; 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 have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.06, the obligations of the Trustee to any Authenticating Agent under Section 6.13 and, if money shall
have been deposited with the Trustee pursuant to subclause (ii) of clause (a) of this Section, the obligations of the Trustee under Section 4.02 and the last paragraph of Section 10.03 shall survive. 
 Section 4.02. Application of Trust Money. Subject to the provisions of the last paragraph of Section 10.03, all money deposited with the
Trustee pursuant to Section 4.01 shall be held in trust and applied by the Trustee, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for the payment of which such money or obligations have been deposited with or received by the
Trustee. 
 ARTICLE 5 
 REMEDIES 
 Section 5.01. Events of Default. “Event of Default” whenever used in this
Indenture with respect to Securities of any series means any one of the following events and such other events as may be established with respect to the Securities of such series as contemplated by Section 3.01 hereof, unless it is either
inapplicable or is specifically deleted or modified in the applicable Board Resolution, Officers’ Certificate or in the supplemental indenture under which the Securities of such series are issued, as the case may be, as contemplated by
Section 3.01 hereof : 
  

 32 

 (1) failure to pay in full the interest accrued on any Securities of such series when such interest
becomes due and payable and continuance of that failure for a period of 30 days or, if interest deferral is applicable to such series pursuant to Section 3.01, failure to pay in full the interest accrued on any Securities of such series when
such interest becomes due and payable upon the conclusion of an interest deferral period having the maximum permitted length specified pursuant to Section 3.01 and continuance of that failure for a period of 30 days thereafter; or 

(2) a court having jurisdiction in the premises shall enter a decree or order for relief in respect of the Company in an involuntary case under any
applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Company or for any substantial part of its property or
ordering the winding up or liquidation of its affairs, and such decree or order shall remain unstayed and in effect for a period of 90 consecutive days; or 
 (3) the Company shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or consent to the entry of an order for relief in an involuntary case under
any such law, or consent to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Company or for any substantial part of its property, or make any general assignment
for the benefit of creditors; or 
 (4) any other Event of Default provided for with respect to such series of Securities in accordance with
Section 3.01. 
 Section 5.02. 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, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or,
if the Securities of that series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series) 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), provided that, in the case of the Securities of a series issued to a PNC Trust, if, upon an Event of Default, the Trustee or the Holders of not less than 25% in principal amount
of the Outstanding Securities of that series fail to declare the principal of all the Securities of that series to be immediately due and payable, the holders of at least 25% in aggregate Liquidation Amount (as defined in the related Trust
Agreement) of the corresponding series of Trust Preferred Securities then outstanding shall have such right by a notice in writing to the Company and the Trustee; and upon any such declaration such principal amount (or specified amount) shall become
immediately due and payable. 
  

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 At any time after such a declaration of acceleration with respect to Securities of any series has been
made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter 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 such declaration and its consequences if 
 (1) the Company has paid or
deposited with the Trustee a sum sufficient to pay 
 (A) all overdue interest on all Securities of that series, 

(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration
of acceleration and interest thereon at the rate or rates prescribed therefor in such Securities, 
 (C) to the extent that
payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and 
 (D) all sums paid or advanced by the Trustee and any predecessor Trustee hereunder and all sums due the Trustee and any predecessor Trustee under Section 6.06; and 
 (2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series that have
become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 
 In the case of
Securities of a series issued to a PNC Trust, the holders of a majority in aggregate Liquidation Amount (as defined in the Trust Agreement under which such PNC Trust is formed) of the related series of Trust Preferred Securities issued by such PNC
Trust shall also have the right to rescind and annul such declaration and its consequences by written notice to the Company and the Trustee, subject to the satisfaction of the conditions set forth in Clauses (a) and (b) above of this
Section. 
 No such rescission shall affect any subsequent default or impair any right consequent thereon. 
 Section 5.03. Collection of Indebtedness and Suits for Enforcement by Trustee.  
 The term “Enforcement Event” whenever used herein with respect to Securities of any series means any one of the following events and such
other 

  

 34 

 
events as may be established with respect to the Securities of such series as contemplated by Section 3.01 hereof, unless it is either inapplicable or
is specifically deleted or modified in the applicable Board Resolution, Officers’ Certificate or in the supplemental indenture under which the Securities of such series are issued, as the case may be, as contemplated by Section 3.01
hereof: 
 (1) default is made in the payment of the interest accrued on any Securities of such series when such interest becomes due and
payable and continuance of that failure for a period of 30 days or, if interest deferral is applicable to such series pursuant to Section 3.01, default is made in the payment of the interest accrued on any Securities of such series when such
interest becomes due and payable upon the conclusion of an interest deferral period having the maximum permitted length specified pursuant to Section 3.01 and continuance of that failure for a period of 30 days thereafter; or 
 (2) default is made in the payment of the principal of (or premium, if any, on) any Security of such series as and when the same shall become due and
payable at Maturity; or 
 (3) default in the making or satisfaction of any sinking fund payment or analogous obligation as and when the same
shall become due and payable by the terms of the Securities of such series; or 
 (4) default in the observance, satisfaction or performance
of any of the covenants or agreements contained in this Indenture (other than a covenant or agreement in respect of the Securities of such series a default in whose observance, satisfaction or performance is elsewhere in this Section specifically
dealt with) on the part of the Company in respect of the Securities of such series continued for a period of 90 days after the date on which written notice of such failure, requiring the Company to remedy the same and stating that it is a
“Notice of Default” hereunder, shall have been given to the Company by the Trustee by first-class mail, or to the Company and the Trustee by the Holders of at least twenty-five percent in the aggregate principal amount of the Securities of
such series at the time Outstanding; or 
 (5) any other Enforcement Event provided in or pursuant to the applicable Board Resolution,
Officers’ Certificate or in the supplemental indenture under which such series of Securities is issued, as the case may be, as contemplated by Section 3.01. 
 The Company covenants that if an Enforcement Event of the kind specified in clauses (1) through (3) above occurs, 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 premium, if any) and interest and, to the extent that payment of such interest shall 

  

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be legally enforceable, interest on any overdue principal (and premium, if any) and on 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 all amounts due the Trustee and any predecessor Trustee under Section 6.06. 
 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
decreed 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. 
 If any Event of Default or Enforcement Event with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders
of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of
the exercise of any power granted herein, or to enforce any other proper remedy. 
 Notwithstanding anything herein to the contrary, the
Trustee shall have no responsibility, including any right or obligation to exercise remedies, with respect to a default by the Company with respect to any covenant contained herein, other than a covenant the violation of which constitutes, or with
the giving of notice or the passage of time or both, would constitute, an Event of Default or an Enforcement Event; provided, that nothing in this paragraph shall impair the right of the Trustee to enforce the Company’s obligations hereunder
with respect to the Trustee’s compensation, reimbursement of expenses and advances and indemnities. 
 Section 5.04. Trustee May
File Proofs of Claim.  
 In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,
adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of
the Securities 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, premium or interest) shall be
entitled and empowered, by intervention in such proceeding or otherwise: 
  

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 (i) to file and prove a claim for the whole amount of principal (and premium, if any) and
interest owing and unpaid in respect of the Securities 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 
 (ii) 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 6.06. 
 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. 
 Section 5.05. 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 5.06. Application of Money Collected. Any money collected by the Trustee pursuant to this article shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal (or premium, if any) 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 and each predecessor Trustee under
Section 6.06; 
  

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 SECOND: Subject to Article 13, to the payment of the amounts then due and unpaid for principal of (and
premium, if any) and interest 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 premium, if any) and interest, respectively; and 
 THIRD: To the Company. 
 Section 5.07. 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 for the appointment of a receiver or trustee, or for any other remedy hereunder, unless

 (1) such Holder has previously given written notice to the Trustee of a continuing Event of Default or Enforcement Event with respect to
the Securities of that series; 
 (2) the Holders of not less than 25% in 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 or Enforcement Event in its own name as Trustee hereunder; 
 (3) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 

(5) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in
principal amount of the Outstanding Securities of that series; 
 it being understood and intended that no one or more of such Holders shall have any right
in any manner whatever by virtue of, or by availing 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 5.08. Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Trust Preferred Securities. Notwithstanding any other provision in this Indenture, the Holder of any Security
shall have the right, which is absolute and unconditional, to receive payment of 

  

 38 

 
the principal of (and premium, if any) and (subject to Section 3.07) interest (including any Additional Interest) on such Security on the respective
Stated Maturities expressed in such Security (or, in the case of redemption or repayment, on the Redemption Date or the Repayment Date, as the case may be) and to institute suit for the enforcement of any such payment, and such right shall not be
impaired without the consent of such Holder. In the case of Securities of a series issued to a PNC Trust, any holder of the corresponding series of Trust Preferred Securities issued by such PNC Trust shall have the right, upon the occurrence of an
Event of Default described in Section 5.01(1), to institute a suit directly against the Company for enforcement of payment to such holder of principal of (premium, if any) and (subject to Section 3.07) interest (including any Additional
Interest) on the Securities having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement under which such PNC Trust is formed) of such Trust Preferred Securities of the corresponding series held by such
holder. 
 Section 5.09. Restoration of Rights and Remedies. If the Trustee, any Holder or any holder of Trust Preferred
Securities has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee, such Holder or such holder of Trust
Preferred Securities, then and in every such case the Company, the Trustee, the Holders and such holder of Trust Preferred Securities shall, subject to any determination in such proceeding, be restored severally and respectively to their former
positions hereunder, and thereafter all rights and remedies of the Trustee, the Holders and the holders of Trust Preferred Securities shall continue as though no such proceeding had been instituted. 
 Section 5.10. Rights And Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 3.06, no right or remedy herein conferred upon or reserved to the Trustee, the Holders or any holder of Trust Preferred Securities is intended to be exclusive of any other
right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 Section 5.11. Delay or Omission Not Waiver. No delay or omission of the Trustee, any Holder or any holder of any Trust Preferred Securities to exercise any right or remedy accruing upon any Event of
Default or Enforcement Event shall impair any such right or remedy or constitute a waiver of any such Event of Default or Enforcement Event or any acquiescence therein. Every right and remedy given by this article or by law to the Trustee or to the
Holders or any 

  

 39 

 
holder of any Trust Preferred Securities may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders or any
holder of any Trust Preferred Securities, as the case may be. 
 Section 5.12. Control by Holders. The Holders of a majority in
principal amount of the Outstanding Securities of any series (or if more than one series is affected thereby, of all series so affected, voting as a single class) 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, however, that 
 (1) such direction shall not be in conflict with any rule of law or with this Indenture, expose the Trustee to personal liability or be unduly prejudicial to Holders not joining therein, and 
 (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 
 Nothing in this Indenture shall impair the right of the Trustee to take any other action deemed proper by the Trustee which is not inconsistent with such
direction. 
 Section 5.13. Waiver Of Past Defaults. The Holders of not less than a majority in principal amount of the
Outstanding Securities of any series and, in the case of any Securities of a series issued to a PNC Trust, the holders of Trust Preferred Securities issued by such PNC Trust may waive any past default hereunder and its consequences with respect to
such series except a default: 
 (1) in the payment of the principal of (or premium, if any) or interest on any Security of such series; or

 (2) in respect of a covenant or provision hereof which under this article cannot be modified or amended without the consent of the Holder
of each Outstanding Security of such series affected. 
 Any such waiver shall be deemed to be on behalf of the Holders of all the Securities
of such series or, in the case of a waiver by holders of Trust Preferred Securities issued by such PNC Trust, by all holders of Trust Preferred Securities issued by such PNC Trust. 
 Upon any such waiver, such default shall cease to exist, and any Event of Default or Enforcement Event arising therefrom shall be deemed to have been
cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 
  

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 Section 5.14. Undertaking for Costs. All parties to this Indenture agree, and each Holder of
any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action
taken, 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 5.14 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 premium, if any) or interest on any Securities on or after the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption, on or after the Redemption Date). This
Section 5.14 shall be in lieu of Section 3.15(e) of the Trust Indenture Act and such Section 3.15(e) is hereby expressly excluded from this Indenture, as permitted by the Trust Indenture Act. 
 Section 5.15. Waiver of Stay or Extension Laws. The Company covenants (to the extent that it may lawfully do so) that it will not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and
the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer
and permit the execution of every such power as though no such law had been enacted. 
 Section 5.16. Notice Of Defaults. Within
60 days after the occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall transmit by mail to all Holders of Securities of such series, as their names and addresses appear in the Securities Register,
notice of such default hereunder actually known to a Responsible Officer of the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or
premium, if any) or interest on any Security of such series or in the payment of any sinking fund installment with respect to Securities of such series, the Trustee shall be protected in withholding such notice if and so long as a Responsible
Officer of the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders of Securities of such series; and provided, further, however, that in the case of any default of the character specified in
Section 5.03(4) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the 

  

 41 

 
occurrence thereof. For the purpose of this Section 5.16, the term “default” means any event which is, or after notice or lapse of time or
both would become, an Event of Default or Enforcement Event with respect to Securities of such series. 
 ARTICLE 6 
 THE TRUSTEE 
 Section 6.01. Certain Duties and Responsibilities.  
 (a) Except during the continuance of an Event of Default or an
Enforcement Event; 
 (i) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in
this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (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 certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether
or not they conform to the requirements of this Indenture. 
 (b) In case an Event of Default or an Enforcement Event with respect to any
series of Securities, of which a Responsible Officer of the Trustee has actual knowledge, has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and
skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 
 (c) No
provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that 
 (i) this subsection shall not be construed to limit the effect of subsection (a) 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 shall be proved that
the Trustee was negligent in ascertaining the pertinent facts upon which such judgment was made; 
  

 42 

 (iii) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Securities or a majority in liquidation preference of the Trust Preferred Securities, as the case may be, 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; 
 (iv) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability
in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not
reasonably assured to it. 
 (d) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or
affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 
 Section 6.02. Certain Rights of Trustee. Subject to the provisions of Section 6.01 
 (a) the Trustee may
conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, Security or other paper or
document believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (b) any request or direction of
the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 
 (c) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking,
suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officers’ Certificate delivered by the Company;

 (d) the Trustee will not be liable for any action it takes or omits to take, which it believes to be authorized or within its rights or
powers if such actions or omissions by the Trustee do not constitute negligence; 
  

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 (e) the Trustee shall have no duty to see to any recording, filing or registration of any instrument
(including any financing or continuation statement or any filing under tax or securities laws) or any rerecording, refiling or registration thereof; 
 (f) the Trustee may consult with counsel of its choice or other experts and the advice of such counsel or experts or any Opinion of Counsel shall be full and complete authorization and protection in respect of any
action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. Such counsel may be counsel to the Company or any of its Affiliates and may include any of the Trustee’s employees. The Trustee shall have the right at any
time to seek instructions concerning the administration of this Indenture from any court of competent jurisdiction; 
 (g) the Trustee shall
be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity
satisfactory to the Trustee against the costs, disbursements, advances and expenses (including attorneys’ fees and expenses and the expenses of the Trustee’s agents, counsel, accountants and experts) and liabilities that might be incurred
by the Trustee (or its agents, counsel, accountants and experts) in complying with such request or direction, including such reasonable advances as may be requested by the Trustee; 
 (h) 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, indenture, security, other evidence of indebtedness or other paper or document, but the Trustee in its discretion may make such inquiry or investigation into such
facts or matters as it may see fit, and, if the Trustee shall determine to make such inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney; 
 (i) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents, nominees,
custodians or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 
 (j) the Trustee shall not be charged with knowledge of any default, Event of Default or Enforcement Event with respect to the Securities, unless either
(1) a Responsible Officer shall have actual knowledge of such default, Event of Default or Enforcement Event or (2) written notice of such default, Event of Default or Enforcement Event shall have been given to the Trustee by the Company
or by any Holder of the Securities; 
  

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 (k) the rights, privileges, protections, immunities and benefits given to the Trustee, including, without
limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder; and 
 (l) the permissive rights of the Trustee enumerated herein shall not be construed as duties. 
 Section 6.03. Not Responsible for Recitals or Issuance of Securities. The recitals contained herein and in the Securities, except the
Trustee’s certificates of authentication, shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the
validity or sufficiency of this Indenture or of the Securities. Neither the Trustee nor any Authenticating Agent shall be accountable for the Company’s performance hereunder, the Company’s representations and warranties or the
Company’s use or application of the Securities or the proceeds thereof. 
 Section 6.04. May Hold Securities. The Trustee,
any Authenticating Agent, any Paying Agent, any Securities Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 6.07 and Section 6.12, may
otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Securities Registrar or such other agent. 
 Section 6.05. Money Held in Trust. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for
interest on any money received by it hereunder except as otherwise agreed with the Company. 
 Section 6.06. Compensation and
Reimbursement. The Company agrees 
 (a) to pay to the Trustee from time to time reasonable compensation for all services rendered by it
hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (b) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture
(including the reasonable costs of collection, and the reasonable compensation, expenses advancements and disbursements of its agents, accountants, experts and counsel), except any such expense, disbursement or advance as may be attributable to its
negligence or bad faith; and 
  

 45 

 (c) to indemnify the Trustee and its officers, directors, shareholders, members, partners, employees,
representatives, custodians, nominees or agents for, and to hold each harmless against, any loss, damage, liability, claim, action, suit, cost or expense (including the reasonable compensation, expenses and disbursements of the Trustee’s agents
and counsel) of any kind and nature whatsoever incurred without negligence or bad faith on their part, arising out of or in connection with the acceptance or administration of this trust or the performance of its duties hereunder, including but not
limited to the costs and expenses (including the reasonable compensation, expenses and disbursements of the Trustee’s agents and counsel) of defending themselves against any claim or liability in connection with the exercise or performance of
any of their powers or duties hereunder. 
 The obligations of the Company under this Section shall not be subordinate to the payment of
Senior Indebtedness pursuant to Article 13. As security for the performance of these obligations, the Trustee shall have a lien prior to the Securities upon all property and funds held or collected by the Trustee as such, excepts funds held in trust
for payment of the principal (or premium, if any) or any interest on the particular Securities. The obligations of the Company under this Section shall survive the removal or resignation of the Trustee and the satisfaction and discharge of this
Indenture. 
 When the Trustee incurs expenses or renders services after an Event of Default specified in 5.01(3) or 5.01(4) occurs, the
expenses and the compensation for the services are intended to constitute expenses of administration under the Bankruptcy Reform Act of 1978 or any successor statute. 
 Section 6.07. Disqualification; Conflicting Interests. The Trustee shall comply with the terms of Section 310(b) of the Trust Indenture Act. The Trust Agreement and the PNC Guarantee shall be deemed
to be specifically described in this Indenture for the purposes of clause (i) of the first proviso contained in Section 310(b) of the Trust Indenture Act. 
 Section 6.08. Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder organized and doing business under the laws of the United States of America, any State thereof or the
District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by Federal or State authority. If such Person publishes
reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then, for the purposes of this Section, the combined capital and surplus of such Person shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it
shall resign 

  

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immediately in the manner and with the effect hereinafter specified in this Article. Neither the Company nor any Person directly or indirectly controlling,
controlled by or under common control with the Company shall serve as Trustee for the Securities of any series issued hereunder. 
 Section 6.09. Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of
appointment by the successor Trustee under Section 6.10. 
 (b) The Trustee may resign at any time with respect to the Securities of one
or more series by giving written notice thereof to the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee
may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 (c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company.

 (d) If at any time: 
 (i) the Trustee shall fail to comply with Section 6.07 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or 
 (ii) the Trustee shall cease to be eligible under Section 6.08 and shall fail to resign after written request therefor by the Company
or by any such Holder, or 
 (iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent
or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
 then, in any such case, (i) the Company, acting pursuant to the authority of a Board Resolution, may remove the Trustee with respect to all Securities, or
(ii) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the
Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
  

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 (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in
the office of Trustee for any cause with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being
understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall
comply with the applicable requirements of Section 6.10. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed
by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment,
become the successor Trustee with respect to the Securities of such series and supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company
or the Holders and accepted appointment in the manner hereinafter provided, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, subject to Section 5.14, on behalf of himself and all others
similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 (f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any
series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities of such series as their names and addresses appear in the Securities Register. Each notice shall include the name of the successor
Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 
 Section 6.10. Acceptance of
Appointment by Successor. (a) In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring
Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts, obligations and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such
successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 
  

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 (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or
more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such
appointment and that (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates, (ii) if the retiring Trustee is not retiring with respect to all Securities of all series for which it is the Trustee hereunder, shall contain such
provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall
continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it
being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or
trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such
successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts, and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such
successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect
to the Securities of that or those series to which the appointment of such successor Trustee relates. 
 (c) In case of the appointment of a
successor Property Trustee or Delaware Trustee with respect to the Securities pursuant to a Trust Agreement, the Company, the retiring Trustee and each successor Trustee with respect to the Securities shall execute and deliver a declaration
supplemental to such Trust Agreement wherein each successor Trustee shall accept such appointment and that (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities to which the appointment of such successor Trustee relates and (ii) shall add to or change any of the provisions of such Trust Agreement as shall
be necessary to provide for or facilitate the administration of the Trust thereunder; and upon the execution and delivery of such supplemental declaration the resignation or removal of the retiring Trustee shall become effective to the extent
provided therein and each 

  

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such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts, and duties of the retiring
Trustee with respect to the Securities; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder
with respect to the Securities. 
 (d) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more
fully and certainly vesting in and confirming to such successor Trustee all rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 
 (e) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under
this Article. 
 (f) The Trustee shall not be liable for the acts or omissions to act of any successor Trustee. 
 Section 6.11. Merger, Conversion, Consolidation or Succession to Business. Any Person into which the Trustee may be merged or converted or
with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any Person to which all or substantially all of the corporate trust business of the Trustee may be sold
or otherwise transferred, shall be the successor of the Trustee hereunder, provided such Person shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any
of the parties hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and
deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 
 Section 6.12. Preferential Collection of Claims Against Company. The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship listed in Section 311(b) of the Trust
Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent indicated therein. 
 Section 6.13. Appointment of Authenticating Agent. The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities that shall be authorized to act on behalf of
the Trustee to authenticate Securities of such series issued upon original issue and upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.06, and Securities so authenticated shall be entitled to the
benefits of this Indenture 

  

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and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the
authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate
of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a Person organized and doing business under the laws of the United States of
America, or of any State or Territory thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by
Federal or State authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section the combined capital
and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with
the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 
 Any Person into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any
Person succeeding to all or substantially all of the corporate trust or corporate agency business of an Authenticating Agent shall be the successor Authenticating Agent hereunder, provided such Person shall be otherwise eligible under this
Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 
 An
Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent
and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a
successor Authenticating Agent that shall be acceptable to the Company. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with
like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 
 The Company agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section. 
  

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 If an appointment with respect to one or more series is made pursuant to this Section, the Securities of
such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication in the following form: 
 This is one of the Securities of the series designated therein referred to in the within mentioned Indenture. 
 Dated:

  

			
	 THE BANK OF NEW YORK, not in its individual capacity but solely as Trustee

		
	By:	 	  

	Title:	 	As Authenticating Agent
		
	By:	 	  

	Title:	 	Authorized Officer

 ARTICLE 7 
 HOLDER’S LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 Section 7.01. Company to Furnish Trustee Names and Addresses of Holders. The Company will furnish or cause to be furnished to the Trustee:

 (a) monthly, quarterly or semi-annually, as the case may be, not more than 15 days after each Regular Record Date in each year, a list, in
such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of each series as of such Regular Record Date, and 
 (b) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the
time such list is furnished, 
 provided no such list need be furnished if the Trustee shall be the Securities Registrar. 
 Section 7.02. Preservation of Information, Communications to Holders. (a) The Trustee shall preserve, in as current a form as is
reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 7.01 and the names and addresses of Holders 

  

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received by the Trustee in its capacity as Securities Registrar. The Trustee may destroy any list furnished to it as provided in Section 7.01 upon
receipt of a new list so furnished. 
 (b) The rights of Holders to communicate pursuant to Section 312(b) of the Trust Indenture Act
with other Holders with respect to their rights under this Indenture or under the Securities. The Trustee, the Registrar and any other Person shall have the protection of Section 312(c). 
 (c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company, the Trustee nor the
Registrar nor any agent of either of them shall be held accountable by reason of the disclosure of information as to the names and addresses of the Holders made pursuant to the Trust Indenture Act. 
 Section 7.03. Reports by Trustee. Within 60 days after May 15 of each year commencing with the year 2008, the Trustee shall transmit by
mail to Holders for which it is Trustee hereunder, as their names and addresses appear in the Securities Register, a brief report dated as of such May 15 in accordance with, and to the extent required under, Section 313 of the Trust
Indenture Act. 
 Section 7.04. Reports by Company. The Company shall: 
 (a) file with the Trustee within 15 days after the Company is required to file the same with the Commission 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 Commission may from time to time by rules and regulations prescribe) which the Company may be required to file, and such summaries thereof, as may be
required pursuant to the Trust Indenture Act at the times and in the manner provided in the Trust Indenture Act; provided that any such information, documents or reports required to be filed with the Commission pursuant to Section 13 or
Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of said Sections, then it shall file with the Trustee and the Commission, in accordance with the rules and
regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the Exchange Act in respect of a security listed and
registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 
 (b) file with the
Trustee and the Commission, in accordance with the rules and regulations prescribed from time to time by the Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants
of this Indenture as may be required from time to time by such rules and regulations; and 
  

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 (c) transmit by mail to all Holders, as their names and addresses appear in the Securities Register,
within 30 days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs (1) and (2) of this Section as may be required by rules and
regulations prescribed from time to time by the Commission. 
 Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustee’s receipt of such reports shall not constitute 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). 
 ARTICLE 8

 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR
LEASE 
 Section 8.01. Company May Consolidate, Etc. only on Certain Terms. The Company shall not consolidate with
or merge into any other Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, and no Person shall consolidate with or merge into the Company or convey, transfer or lease its properties and assets
substantially as an entirety to the Company, unless: 
 (a) in case the Company shall consolidate with or merge into another Person or convey,
transfer or lease its properties and assets substantially as an entirety to any Person, the Person formed by such consolidation or into which the Company is merged or the Person that acquires by conveyance or transfer, or that leases, the properties
and assets of the Company substantially as an entirety shall be organized and existing under the laws of the United States of America or any State thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto,
executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of (and premium, if any) and interest (including any Additional Interest) on all the Securities and the performance of every
covenant of this Indenture on the part of the Company to be performed or observed; 
 (b) immediately after giving effect to such
transaction, no Event of Default, and no event that, after notice or lapse of time, or both, would become an Event of Default, shall have happened and be continuing; and 
 (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and any such supplemental indenture
comply with this Article and that all conditions precedent herein provided for relating to such 

  

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transaction have been complied with; and the Trustee, subject to Section 6.01, may rely upon such Officers’ Certificate and Opinion of Counsel as
conclusive evidence that such transaction complies with this Section. 
 Section 8.02. Successor Corporation Substituted. Upon
any consolidation or merger by the Company with or into any other Person, or any conveyance, transfer or lease by the Company of its properties and assets substantially as an entirety to any Person in accordance with Section 8.01, the successor
Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with
the same effect as if such successor Person had been named as the Company herein; and in the event of any such conveyance, transfer or lease the Company shall be discharged from all obligations and covenants under the Indenture and the Securities
and may be dissolved and liquidated. 
 Such successor Person may cause to be signed, and may issue either in its own name or in the name of
the Company, any or all of the Securities issuable hereunder that theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the written direction of such successor Person instead of the Company and subject to all
the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver any Securities that previously shall have been signed and delivered by the officers of the Company to the Trustee for authentication
pursuant to such provisions and any Securities that such successor Person thereafter shall cause to be signed and delivered to the Trustee on its behalf for the purpose pursuant to such provisions. All the Securities so issued shall in all respects
have the same legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Securities had been issued at the date of the execution hereof.

 In case of any such consolidation, merger, sale, conveyance or lease, such changes in phraseology and form may be made in the Securities
thereafter to be issued as may be appropriate. 
 ARTICLE 9 
 SUPPLEMENTAL INDENTURES 
 Section 9.01. Supplemental Indentures
Without Consent of Holders. Without the consent of any Holders, the Company, when authorized by a Board Resolution (a copy of which shall be delivered to the Trustee), and the Trustee, at any time and from time to time, may enter into one or
more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
  

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 (a) to evidence the succession of another Person to the Company, and the assumption by any such successor
of the covenants of the Company herein and in the Securities contained; or 
 (b) to convey, transfer, assign, mortgage or pledge any
property to or with the Trustee or to surrender any right or power herein conferred upon the Company; or 
 (c) to establish the form or
terms of Securities of any series as permitted by Section 2.01 or 3.01; or 
 (d) to add to the covenants of the Company for the benefit
of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender
any right or power herein conferred upon the Company; or 
 (e) to add any additional Events of Default for the benefit of the Holders of all
or any series of Securities (and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such
series); or 
 (f) add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities,
provided that any such addition, change or elimination (i) shall become effective only when there is no Security Outstanding of any series created prior to the execution of such supplemental indenture that is entitled to the benefit of
such provision or (ii) shall not apply to any Outstanding Securities; or 
 (g) to change or eliminate any restrictions on the payment
of principal or premium, if any, on any series of Securities in registered form; provided that any such action shall not adversely affect the interests of the Holders of such Securities in any material respect; or 
 (h) to cure any ambiguity, to correct or supplement any provision herein that may be defective or inconsistent with any other provision herein, or to
make any other provisions with respect to matters or questions arising under this Indenture, provided that such action pursuant to this clause (h) shall not adversely affect the interest of the Holders of Securities of any series in any
material respect or, in the case of the Securities of a series issued to a PNC Trust and for so long as any of the corresponding series of Trust Preferred Securities issued by such PNC Trust shall remain outstanding, the holders of such Trust
Preferred Securities; or 
  

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 (i) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with
respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the
requirements of Section 6.10(b); or 
 (j) to comply with the requirements of the Commission in order to effect or maintain the
qualification of this Indenture under the Trust Indenture Act. 
 Section 9.02. Supplemental Indentures with Consent of Holders.
With the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series affected by such supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company,
when authorized by a Board Resolution (a copy of which shall be delivered to the Trustee), and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the
consent of the Holder of each Outstanding Security affected thereby, 
 (a) except as otherwise specified as contemplated by
Section 2.01 or Section 3.01 with respect to the deferral of the payment of interest on the Securities of any series, change the Stated Maturity of the principal of, or any installment of interest (including any Additional Interest) on,
any Security, or reduce the principal amount thereof or the rate of interest thereon or reduce any premium payable upon the redemption thereof, or reduce the amount of principal of a Discount Security or any other Security that would be due and
payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02, or change the place of payment where, or the coin or currency in which, any Security or any premium or interest thereon is payable, or impair the right
to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption or repayment, on or after the Redemption Date or Repayment Date), or 
 (b) reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such
supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or 
 (c) modify any of the provisions of this Section, Section 5.13 or Section 10.05, except to increase any such percentage or to provide that
certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided that this 

  

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clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes
in this Section or the deletion of this proviso, in accordance with the requirements of Section 6.11(b) and 9.01(g), or 
 (d) reduce
the requirements contained herein for quorum or voting, or 
 (e) reduce, or change the manner of calculating, payments due on any Security,
or 
 (f) modify the provisions in Article 13 of this Indenture with respect to the subordination of Outstanding Securities of any series in
a manner adverse to the Holders thereof; 
 provided, further, that, in the case of the Securities of a series issued to a PNC Trust, so long
as any of the corresponding series of Trust Preferred Securities issued by such PNC Trust remains outstanding, (i) no such amendment shall be made that adversely affects the holders of such Trust Preferred Securities in any material respect,
and no termination of this Indenture shall occur, and no waiver of any Event of Default or compliance with any covenant under this Indenture shall be effective, without the prior consent of the holders of at least a majority of the aggregate
Liquidation Amount of such Trust Preferred Securities then outstanding unless and until the principal (and premium, if any) of the Securities of such series and all accrued and, subject to Section 3.07, unpaid interest (including any Additional
Interest) thereon have been paid in full and (ii) no amendment shall be made to Section 5.08 of this Indenture that would impair the rights of the holders of Trust Preferred Securities provided therein without the prior consent of the
holders of each Capital Security then outstanding unless and until the principal (and premium, if any) of the Securities of such series and all accrued and (subject to Section 3.07) unpaid interest (including any Additional Interest) thereon
have been paid in full. 
 A supplemental indenture that changes or eliminates any covenant or other provision of this Indenture that has
expressly been included solely for the benefit of one or more particular series of Securities or Trust Preferred Securities, or that modifies the rights of the Holders of Securities or holders of Trust Preferred Securities of such series with
respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities or holders of Trust Preferred Securities of any other series. 
 It shall not be necessary for any Act of Holders under this Section to approve the particular form of any proposed supplemental indenture, but it shall
be sufficient if such Act shall approve the substance thereof. 
  

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 Section 9.03. Execution of Supplemental Indentures. In executing or accepting the additional
trusts created by any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, in addition to the documents required by Section 1.02, and
(subject to Section 6.01) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may,
but shall not be obligated to, enter into any such supplemental indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Section 9.04. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article, this Indenture shall be
modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby to the
extent provided therein. 
 Section 9.05. Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to
this Article shall conform to the requirements of the Trust Indenture Act as then in effect. 
 Section 9.06. Reference in Securities
to Supplemental Indentures. Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the
Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Company, to any such supplemental indenture may be prepared and
executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 
 Section 9.07. Subordination Unimpaired. No provision in any supplemental indenture that affects the superior position of any holder of Senior Indebtedness shall be effective against any such holder of Senior Indebtedness, unless
such holder shall have consented thereto. 
 ARTICLE 10 
 COVENANTS 
 Section 10.01. Payment of Principal, Premium and Interest. The
Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of (and premium, if any) and interest on the Securities of that series in accordance with the terms of such Securities and
this Indenture. 
  

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 Section 10.02. Maintenance of Office or Agency. The Company will maintain in each Place of
Payment for any series of Securities, an office or agency where Securities of that series may be presented or surrendered for payment and an office or agency where Securities of that series may be surrendered for transfer or exchange and where
notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served. The Company initially appoints the Trustee, acting through its Corporate Trust Office, as its agent for said purposes. The
Company will give prompt written notice to the Trustee of any change in the location of any such office or agency. If at any time the Company shall fail to maintain such office or agency or shall fail to furnish the Trustee with the address thereof,
such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. If the Place of Payment with respect to any such series of Securities is New York, New York, the Company hereby appoints the
Trustee as its office or agent with respect to such Place of Payment to receive all such presentations, surrenders, notices and demands. 
 The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all of such purposes, and may from time to time rescind such
designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes.
The Company will give prompt written notice to the Trustee of any such designation or rescission and any change in the location of any such office or agency. 
 Section 10.03. Money for Securities Payments to be Held in Trust. If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date
of the principal of (and premium, if any) or interest on any of the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so
becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee in writing of its action or failure so to act. 
 Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, prior to 10:00 a.m. New York City time on each due date
of the principal of (and premium, if any) or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit
of the Persons entitled to such principal and premium (if any) or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee in writing of it action or failure so to act. 
  

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 The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute
and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
 (a) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on Securities of that series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to
such Persons or otherwise disposed of as herein provided; 
 (b) give the Trustee written notice of any default by the Company (or any other
obligor upon the Securities of that series) in the making of any payment of principal of (and premium, if any) or interest; and 
 (c) at any
time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 
 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums
held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such
Paying Agent shall be released from all further liability with respect to such money. 
 Any money deposited with the Trustee or any Paying
Agent, or then held by the Company, in trust for the payment of the principal of (and premium, if any) or interest on any Security of that series and remaining unclaimed for six years after such principal (and premium, if any) or interest has become
due and payable shall be paid on Company Request to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from such trust;
and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an
Authorized Newspaper in each Place of Payment or mail to each such Holder or both, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication or mailing,
any unclaimed balance of such money then remaining will be repaid to the Company. 
  

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 Section 10.04. Statement as to Compliance. The Company shall deliver to the Trustee, within
120 days after the end of each calendar year of the Company (which on the date hereof ends of December 31, a written statement signed by the principal executive office, principal financial officer or principal accounting officer of the Company
(a) giving a review of the activities of the Company during such year and of performance under this Indenture has been made under his supervision, and (b) stating that to the best of his knowledge, based on such review, the Company has
fulfilled its obligations under the Indenture throughout such year, and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. For the purpose of this Section, compliance
shall be determined without regard to any grace period or requirement of notice provided pursuant to the terms of this Indenture. 
 Section 10.05. Waiver of Certain Covenants. The Company may omit in any particular instance to comply with any covenant or condition provided pursuant to Section 9.01(c) or 9.01(d) with respect to the Securities of any
series, if before or after the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally
waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company in
respect of any such covenant or condition shall remain in full force and effect. If the Securities of a series have not been registered under the Securities Act, the Holders of at least a majority in principal amount of such series, by Act of such
Holders, may waive compliance by the Company with the Trust Indenture Act with respect to such series unless such compliance is otherwise required by the Trust Indenture Act. 
 Section 10.06. Additional Sums. In the case of the Securities of a series issued to a PNC Trust, so long as no Event of Default has occurred
and is continuing and except as otherwise specified as contemplated by Section 2.01 or Section 3.01, in the event that (i) a PNC Trust is the Holder of all of the Outstanding Securities of such series and (ii) such PNC Trust
shall be required to pay Additional Taxes, the Company shall pay to such PNC Trust (and its permitted successors or assigns under the related Trust Agreement) as Holder of the Securities of such series for so long as such PNC Trust (or its permitted
successor or assignee) is the registered Holder of any Securities of such series, such additional sums as may be necessary in order that the amount of Distributions (including any Additional Amounts (as defined in such Trust Agreement)) then due and
payable by such PNC Trust on the related Trust 

  

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Preferred Securities and Common Securities that at any time remain outstanding in accordance with the terms thereof shall not be reduced as a result of any
Additional Taxes (the “Additional Sums”). Whenever in this Indenture or the Securities there is a reference in any context to the payment of principal of or interest on the Securities, such mention shall be deemed to include mention
of the payments of the Additional Sums provided for in this paragraph to the extent that, in such context, Additional Sums are, were or would be payable in respect thereof pursuant to the provisions of this paragraph and express mention of the
payment of Additional Sums (if applicable) in any provisions hereof shall not be construed as excluding Additional Sums in those provisions hereof where such express mention is not made; provided, however, that the deferral of the
payment of interest pursuant to the Securities shall not defer the payment of any Additional Sums that may be due and payable. 
 Section 10.07. Additional Covenants. The Company covenants and agrees with each Holder of Securities of a series issued to a PNC Trust (i) to maintain directly or indirectly 100% ownership of the Common Securities of such
PNC Trust; provided, however, that any permitted successor of the Company hereunder may succeed to the Company’s ownership of such Common Securities, and (ii) to use its reasonable efforts, consistent with the terms and
provisions of such Trust Agreement, to cause such PNC Trust to remain classified as a grantor trust and not an association taxable as a corporation for U.S. federal income tax purposes 
 Section 10.08. Payment of Expenses. Upon termination of this Indenture or any series of Securities or the removal or resignation of the
Trustee pursuant to Section 6.09, the Company shall pay to the Trustee all amount accrued and owing to the Trustee to the date of such termination, removal or resignation. Upon termination of the Trust Agreement or any PNC Trust or the removal
or resignation of the Delaware Trustee or the Property Trustee, as the case may be, pursuant to Section 5.6 of the Trust Agreement of any PNC Trust, the Company Trustee, all amounts accrued and owing to such Trustee, as the case may be, to the
date of such termination, removal or resignation. 
 Section 10.09. Further Assurances. From time to time whenever reasonably
requested by the Trustee, the Company will make, execute and deliver or cause to be made, executed and delivered any and all further assurances and all other instruments and assurances and take all such further action as may be necessary or proper
to carry out the intent of or to facilitate the performance of the terms of this Indenture or to secure the rights and remedies hereunder of the Holders of the Securities of any series. 
  

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 ARTICLE 11 
 REDEMPTION OF SECURITIES 
 Section 11.01. Applicability
of this Article. Redemption of Securities of any series (whether by operation of a sinking fund or otherwise) as permitted or required by any form of Security issued pursuant to this Indenture shall be made in accordance with such form of
Security and this Article; provided, however, that if any provision of any such form of Security shall conflict with any provision of this Article, the provision of such form of Security shall govern. Except as otherwise set forth in
the form of Security for such series, each Security of such series shall be subject to partial redemption only in the amount of $1,000 or integral multiples thereof. 
 Section 11.02. Election to Redeem; Notice to Trustee. The election of the Company to redeem any Securities shall be evidenced by or pursuant to a Board Resolution. In case of any redemption at the election
of the Company of any of the Securities of any particular series and having the same terms, the Company shall, not less than 30 nor more than 60 days prior to the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee), notify
the Trustee and, in the case of Securities of a series held by a PNC Trust, the Property Trustee under the related Trust Agreement, of such Redemption Date and of the principal amount of Securities of that series to be redeemed. In the case of any
redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate and an Opinion
of Counsel evidencing compliance with such restriction. 
 Section 11.03. Selection of Securities to be Redeemed. If less than
all the Securities of any series are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously called
for redemption, by such method as the Trustee shall deem fair and appropriate and that may provide for the selection for redemption of a portion of the principal amount of any Security of such series, provided that the unredeemed portion of
the principal amount of any Security shall be in a denomination (which shall not be less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified tenor are to be redeemed (unless
such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not
previously called for redemption in accordance with the preceding sentence. 
 The Trustee shall promptly notify the Company in writing of
the Securities selected for partial redemption and the principal amount thereof to be 

  

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redeemed. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in
the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security that has been or is to be redeemed. If the Company shall so direct, Securities registered in the name of the Company, any
Affiliate (other than a PNC Trust) or any Subsidiary (other than a PNC Trust) thereof shall not be included in the Securities selected for redemption. 
 Section 11.04. Notice of Redemption. Notice of redemption shall be given by first-class mail, postage prepaid, mailed not later than the thirtieth day, and not earlier than the sixtieth day, prior to the
Redemption Date, to each Holder of Securities to be redeemed, at the address of such Holder as it appears in the Securities Register. 
 With
respect to Securities of each series to be redeemed, each notice of redemption shall state: 
 (a) the Redemption Date; 
 (b) the Redemption Price or if the Redemption Price cannot be calculated prior to the time the notice is required to be sent, the estimate of the
Redemption Price provided pursuant to the Indenture together with a statement that it is an estimate and that the actual Redemption Price will be calculated on a specified day prior to the Redemption Date; 
 (c) if less than all Outstanding Securities of such particular series and having the same terms are to be redeemed, the identification (and, in the case
of partial redemption, the respective principal amounts) of the particular Securities to be redeemed; 
 (d) that on the Redemption Date, the
Redemption Price will become due and payable upon each such Security or portion thereof, and that interest thereon, if any, shall cease to accrue on and after said date; 
 (e) the place or places where such Securities are to be surrendered for payment of the Redemption Price; and 
 (f) that the redemption is for a sinking fund, if such is the case. 
 Notice of redemption of Securities to be redeemed at the
election of the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company and shall not be irrevocable. The notice if mailed in the manner herein provided shall be
conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, a failure to give such notice by mail or any 

  

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defect in the notice to the Holder of any Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the
redemption of any other Security. 
 Section 11.05. Deposit of Redemption Price. Prior to 10:00 a.m. New York City time on the
Redemption Date specified in the notice of redemption given as provided in Section 11.04, the Company will deposit with the Trustee or with one or more Paying Agents (or if the Company is acting as its own Paying Agent, the Company will
segregate and hold in trust as provided in Section 10.03) an amount of money sufficient to pay the Redemption Price of, and any accrued interest (including Additional Interest) on, all the Securities that are to be redeemed on that date.

 Section 11.06. Payment of Securities Called for Redemption. If any notice of redemption has been given as provided in
Section 11.04, the Securities or portion of Securities with respect to which such notice has been given shall become due and payable on the date and at the place or places stated in such notice at the applicable Redemption Price. On
presentation and surrender of such Securities at a Place of Payment in said notice specified, the said Securities or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price, together with any
accrued interest (including any Additional Interest) to the Redemption Date; provided, however, that, unless otherwise specified as contemplated by Section 3.01, installments of interest whose Stated Maturity is on or prior to the
Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant record dates according to their terms and the provisions of Section 3.07.

 Upon presentation of any Security redeemed in part only, the Company shall execute and, upon receipt of a Company Order, the Trustee shall
authenticate and deliver to the Holder thereof, at the expense of the Company, a new Security or Securities of the same series, of authorized denominations, in aggregate principal amount equal to the unredeemed portion of the Security so presented
and having the same Original Issue Date, Stated Maturity and terms. If a Global Security is so surrendered, such new Security (subject to Section 3.05) will also be a new Global Security. 
 If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal of and premium, if any, on such Security
shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
 The Redemption Price shall be
paid prior to 12:00 noon, New York City time, on the date of such redemption; provided that the Company shall deposit with the Trustee an amount sufficient to pay the Redemption Price by 10:00 a.m., New York City time, on the date such
Redemption Price is to be paid. 
  

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 ARTICLE 12 
 SINKING FUNDS 
 Section 12.01. Applicability of Article. The
provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of any series except as otherwise specified as contemplated by Section 3.01 for such Securities. 
 The minimum amount of any sinking fund payment provided for by the terms of any Securities of any series is herein referred to as a “mandatory
sinking fund payment,” and any sinking fund payment in excess of such minimum amount that is permitted to be made by the terms of such Securities of any series is herein referred to as an “optional sinking fund payment.” If provided
for by the terms of any Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.02. Each sinking fund payment shall be applied to the redemption (or purchase by tender or
otherwise) of Securities of any series as provided for by the terms of such Securities. 
 Section 12.02. Satisfaction of Sinking
Fund Payments with Securities. In lieu of making all or any part of a mandatory sinking fund payment with respect to any Securities of a series in cash, the Company may at its option, at any time no more than 16 months and no less than 45 days
prior to the date on which such sinking fund payment is due, deliver to the Trustee Securities of such series (together with the unmatured coupons, if any, appertaining thereto) theretofore purchased or otherwise acquired by the Company, except
Securities of such series that have been redeemed through the application of mandatory or optional sinking fund payments pursuant to the terms of the Securities of such series, accompanied by a Company Order instructing the Trustee to credit such
obligations and stating that the Securities of such series were originally issued by the Company by way of bona fide sale or other negotiation for value; provided that the Securities to be so credited have not been previously so credited. The
Securities to be so credited shall be received and credited for such purpose by the Trustee at the Redemption Price for such Securities, as specified in the Securities so to be redeemed, for redemption through operation of the sinking fund and the
amount of such sinking fund payment shall be reduced accordingly. 
 Section 12.03. Redemption of Securities for Sinking Fund.
Not less than 60 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for such Securities
pursuant to 

  

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the terms of such Securities, the portion thereof, if any, which is to be satisfied by payment of cash in the currency in which the Securities of such series
are payable (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities pursuant to Section 12.02 and will also deliver to the Trustee any Securities to be
so delivered. Such Officers’ Certificate shall be irrevocable and upon its delivery the Company shall be obligated to make the cash payment or payments therein referred to, if any, on or before the succeeding sinking fund payment date. In the
case of the failure of the Company to deliver such Officers’ Certificate (or, as required by this Indenture, the Securities and coupons, if any, specified in such Officers’ Certificate), the sinking fund payment due on the succeeding
sinking fund payment date for such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of the Securities of such series subject to a mandatory sinking fund payment without the right to deliver or credit
securities as provided in Section 12.02 and without the right to make the optional sinking fund payment with respect to such series at such time. 
 Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments made with respect to the Securities of any particular series shall be applied by
the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date
immediately following the date of such payment) to the redemption of Securities of such series at the Redemption Price specified in such Securities with respect to the sinking fund. Any sinking fund moneys not so applied or allocated by the Trustee
(or, if the Company is acting as its own Paying Agent, segregated and held in trust by the Company as provided in Section 10.03) for such series and together with such payment (or such amount so segregated) shall be applied in accordance with
the provisions of this Section. Any and all sinking fund moneys with respect to the Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in
Section 10.03) on the last sinking fund payment date with respect to Securities of such series and not held for the payment or redemption of particular Securities of such series shall be applied by the Trustee (or by the Company if the Company
is acting as its own Paying Agent), together with other moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Securities of such series at Maturity. The Trustee shall select the
Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 11.03 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in
Section 11.04. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 11.06. On or before each sinking fund payment date, the Company shall pay to 

  

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the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall segregate and hold in trust as provided in Section 10.03) in cash a
sum in the currency in which Securities of such series are payable (except as provided pursuant to Section 3.01) equal to the principal, premium, if any, and any interest accrued to the Redemption Date for Securities or portions thereof to be
redeemed on such sinking fund payment date pursuant to this Section. 
 Neither the Trustee nor the Company shall redeem any Securities of a
series with sinking fund moneys or mail any notice of redemption of Securities of such series by operation of the sinking fund for such series during the continuance of a default in payment of interest, if any, on any Securities of such series or of
any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Securities of such series, except that if the notice of redemption shall have been provided in accordance with the provisions
hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in
accordance with the terms of this Article. Except as aforesaid, any moneys in the sinking fund for such series at the time when any such default or Event of Default shall occur and any moneys thereafter paid into such sinking fund shall, during the
continuance of such default or Event of Default, be held as security for the payment of the Securities and coupons, if any, of such series; provided, however, that in case such default or Event of Default shall have been cured or
waived herein, such moneys shall thereafter be applied on the next sinking fund payment date for the Securities of such series on which such moneys may be applied pursuant to the provisions of this Section. 
 ARTICLE 13 
 SUBORDINATION
OF SECURITIES 
 Section 13.01. Agreement to Subordinate. The Company covenants and agrees, and
each Holder of Securities issued hereunder by such Holder’s acceptance thereof likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this Article; and each Holder of a Security, whether upon original
issue or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions. 
 The payment by the Company of the
principal of, premium, if any, and interest on all Securities issued hereunder shall, to the extent and in the manner hereinafter set forth, be subordinated and junior in right of payment to the prior payment in full of all Senior Indebtedness of
the Company, whether outstanding at the date of this Indenture or thereafter incurred. 
  

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 No provision of this Article shall prevent the occurrence of any Event of Default or Enforcement Event
hereunder. 
 Section 13.02. Default on Senior Indebtedness. In the event and during the continuation of any default by the
Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness of the Company, as the case may be, or in the event that the maturity of any Senior Indebtedness of the Company, as the case may be, has been
accelerated because of a default, then, in either case, no payment shall be made by the Company with respect to the principal (including redemption payments) of, or premium, if any, or interest on, the Securities or to acquire any of the Securities.

 In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee, by any Holder or by any Paying Agent (or,
if the Company is acting as its own Paying Agent, money for any such payment is segregated and held in trust) when such payment is prohibited by the preceding paragraph of this Section, before all Senior Indebtedness of the Company is paid in full,
or provision is made for such payment in money in accordance with its terms, such payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of Senior Indebtedness of the Company or their respective
representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as their respective interests may appear, ratably according to the aggregate amount remaining unpaid on
account of the principal, premium, interest or any other payment due on the Senior Indebtedness held or represented by each, for application to the payment of all Senior Indebtedness of the Company, as the case may be, remaining unpaid to the extent
necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the holders of such Senior Indebtedness, but only to the extent that the
holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Trustee in writing within 90 days of such payment prohibited by this Section, stating the amounts then due and owing on the Senior Indebtedness
and only the amounts specified in such notice to the Trustee shall be paid to the holders of Senior Indebtedness. 
 Section 13.03.
Liquidation; Dissolution; Bankruptcy. Upon any payment by the Company or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon any dissolution or winding-up or liquidation or
reorganization of the Company, whether voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings, all amounts due upon all Senior Indebtedness of the Company shall first be paid in full, or payment thereof provided for
in money in accordance with its terms, before any payment is made by the Company on account of the principal (and premium, if any) or interest on the Securities; and upon any such dissolution or winding-up or liquidation or reorganization, any
payment by the Company, or 

  

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distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Holders of the Securities or the
Trustee would be entitled to receive, except for the provisions of this Article, shall be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the
Holders of the Securities or by the Trustee under this Indenture if received by them or it, directly to the holders of Senior Indebtedness of the Company (pro rata to such holders on the basis of the respective amounts of Senior
Indebtedness held by such holders, as calculated by the Company) or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing such Senior Indebtedness may have been
issued, as their respective interests may appear, to the extent necessary to pay such Senior Indebtedness in full, in money or money’s worth, after giving effect to any concurrent payment or distribution to or for the holders of such Senior
Indebtedness, before any payment or distribution is made to the Holders of Securities or to the Trustee. 
 In the event that,
notwithstanding the foregoing, any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, prohibited by the foregoing, shall be received by the Trustee, by any Holder or by any Paying
Agent (or, if the Company is acting as its own Paying Agent, money for any such payment is segregated and held in trust) before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in accordance with
its terms, such payment or distribution shall be held in trust for the benefit of and shall be paid over or delivered to the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee, agent or other Person making payment or
distribution of assets of the Company, for application to the payment of all Senior Indebtedness of the Company, as the case may be, remaining unpaid to the extent necessary to pay such Senior Indebtedness in full in money in accordance with its
terms, after giving effect to any concurrent payment or distribution to or for the benefit of the holders of such Senior Indebtedness. 
 For
purposes of this Article, the words “cash, property or securities” shall not be deemed to include shares of stock of the Company as reorganized or readjusted, or securities of the Company or any other Person provided for by a plan of
reorganization or readjustment, the payment of which is subordinated at least to the extent provided in this Article with respect to the Securities to the payment of all Senior Indebtedness of the Company, as the case may be, that may at the time be
outstanding, provided that (i) such Senior Indebtedness is assumed by the new Person, if any, resulting from any such reorganization or readjustment, and (ii) the rights of the holders of such Senior Indebtedness are not, without the
consent of such holders, altered by such reorganization or readjustment. The consolidation of the Company with, or the merger of the Company into, another Person or the liquidation or dissolution of the Company following the conveyance or transfer
of its property as an entirety, or substantially as an entirety, to another 

  

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Person upon the terms and conditions provided for in Article 8 shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes
of this Section if such other Person shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in Article 8. 
 Section 13.04. Subrogation. Subject to the payment in full of all Senior Indebtedness of the Company, the rights of the Holders of the Securities shall be subrogated to the rights of the holders of such
indebtedness to receive payments or distributions of cash, property or securities of the Company, as the case may be, applicable to such Senior Indebtedness until the principal of (and premium, if any) and interest on the Securities shall be paid in
full; and, for the purposes of such subrogation, no payments or distributions to the holders of such Senior Indebtedness of any cash, property or securities to which the Holders of the Securities or the Trustee would be entitled except for the
provisions of this Article, and no payment over pursuant to the provisions of this Article to or for the benefit of the holders of such Senior Indebtedness by Holders of the Securities or the Trustee, shall, as between the Company, its creditors
other than Holders of Senior Indebtedness of the Company, and the holders of the Securities, be deemed to be a payment by the Company to or on account of such Senior Indebtedness. It is understood that the provisions of this Article are and are
intended solely for the purposes of defining the relative rights of the Holders of the Securities, on the one hand, and the holders of such Senior Indebtedness on the other hand. 
 Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall impair, as between the Company, its
creditors other than the holders of Senior Indebtedness of the Company, and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of (and premium, if
any) and interest on the Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Company, as the case
may be, other than the holders of Senior Indebtedness of the Company, as the case may be, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon
default under the Indenture, subject to the rights, if any, under this Article of the holders of such Senior Indebtedness in respect of cash, property or securities of the Company, as the case may be, received upon the exercise of any such remedy.

 Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee, subject to the provisions of
Section 6.01, and the Holders of the Securities shall be entitled to conclusively rely upon any order or decree made by any court of competent jurisdiction in which such dissolution, winding-up, liquidation or reorganization proceedings are
pending, or a certificate of the receiver, trustee in bankruptcy, liquidation trustee, agent or other Person making 

  

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such payment or distribution, delivered to the Trustee or to the Holders of the Securities, for the purposes of ascertaining the Persons entitled to
participate in such distribution, the holders of Senior Indebtedness and other indebtedness of the Company, as the case may be, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent
thereto or to this Article. 
 Section 13.05. Trustee to Effectuate Subordination. Each Holder of Securities by such
Holder’s acceptance thereof authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article and appoints the Trustee such
Holder’s attorney-in-fact for any and all such purposes. 
 Section 13.06. Notice by the Company. The Company shall give
prompt written notice to a Responsible Officer of the Trustee of any fact known to the Company that would prohibit the making of any payment of monies to or by the Trustee in respect of the Securities pursuant to the provisions of this Article.
Notwithstanding the provisions of this Article or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment of monies to or by the Trustee in
respect of the Securities pursuant to the provisions of this Article, unless and until a Responsible Officer of the Trustee shall have received written notice thereof from the Company or a holder or holders of Senior Indebtedness or their
representative or representatives or from any trustee therefor; and before the receipt of any such written notice, the Trustee, subject to the provisions of Section 6.01, shall be entitled in all respects to assume that no such facts exist;
provided, however, that if the Trustee shall not have received the notice provided for in this Section at least three Business Days prior to the date upon which by the terms hereof any money may become payable for any purpose (including,
without limitation, the payment of the principal of (or premium, if any) or interest on any Security), then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive such money and to
apply the same to the purposes for which they were received, and shall not be affected by any notice to the contrary that may be received by it within three Business Days prior to such date. 
 The Trustee, subject to the provisions of Section 6.01, shall be entitled to conclusively rely on the delivery to it of a written notice by a Person
representing himself to be a holder of Senior Indebtedness of the Company, as the case may be (or a trustee on behalf of such holder), to establish that such notice has been given by a holder of such Senior Indebtedness or a trustee on behalf of any
such holder or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of such Senior Indebtedness to participate in any payment or distribution pursuant
to this Article, the Trustee may request such Person to furnish evidence to the 

  

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satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in
such payment or distribution and any other facts pertinent to the rights of such Person under this Article, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of
such Person to receive such payment. 
 Section 13.07. Rights of the Trustee; Holders of Senior Indebtedness. The Trustee in its
individual capacity shall be entitled to all the rights set forth in this Article in respect of any Senior Indebtedness at any time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Indenture shall
deprive the Trustee of any of its rights as such holder. 
 With respect to the holders of Senior Indebtedness of the Company, the Trustee
undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article, and no implied covenants or obligations with respect to the holders of such Senior Indebtedness shall be read into this
Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of such Senior Indebtedness and the Trustee shall not be liable to any holder of such Senior Indebtedness if it shall pay over or deliver to
Holders of Securities, the Company or any other Person money or assets to which any holder of such Senior Indebtedness shall be entitled by virtue of this Article or otherwise. 
 Section 13.08. Subordination May Not Be Impaired. No right of any present or future holder of any Senior Indebtedness of the Company to
enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company, as the case may be, or by any act or failure to act, in good faith, by any such holder, or by
any noncompliance by the Company, as the case may be, with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof that any such holder may have or otherwise be charged with. 
 Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness of the Company may, at any time and from time
to time, without the consent of or notice to the Trustee or the Holders of the Securities, without incurring responsibility to the Holders of the Securities and without impairing or releasing the subordination provided in this Article or the
obligations hereunder of the Holders of the Securities to the holders of such Senior Indebtedness, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, such
Senior Indebtedness, or otherwise amend or supplement in any manner such Senior Indebtedness or any instrument evidencing the same or any agreement under which such Senior Indebtedness is outstanding; (ii) sell, exchange, release or otherwise
deal with any property pledged, mortgaged or otherwise securing 

  

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such Senior Indebtedness; (iii) release any Person liable in any manner for the collection of such Senior Indebtedness; and (iv) exercise or
refrain from exercising any rights against the Company, as the case may be, and any other Person. 
 Section 13.09. Trustee’s
Compensation Not Prejudiced. Nothing in this Article shall apply to amounts due to the Trustee pursuant to Section 6.06 of this Indenture. 
 Section 13.10. Disclaimer of Right to Enforce Covenants. Except as specifically provided for in this Article, no holder of Senior Indebtedness shall have any right to enforce any of the covenants in this Indenture. 

Section 13.11. Reliance of Judicial Order or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the Company
referred to in this Article, the Trustee, subject to the provisions of Section 6.01, and the Holders of the Securities shall be entitled to rely upon any order decree entered by any court of competent jurisdiction in which such insolvency,
bankruptcy, receivership, liquidation, reorganization, dissolution, winding-up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for the benefit of creditors,
agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of Securities, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Senior
Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article. 
 Section 13.12. Article Applicable to Paying Agent. In case at any time any Paying Agent other than the Trustee shall have been appointed by
the Company and be then acting hereunder, the term “Trustee” as used in this Article shall in such case (unless the context otherwise requires) be construed as extending to and including such Paying Agent within its meaning as fully for
all intents and purposes as if such Paying Agent were named in this Article in addition to or in place of the Trustee; provided, however, that Section 13.07 shall not apply to the Company or any Affiliate of the Company if it or such Affiliate
acts as Paying Agent. 
 ARTICLE 14 
 REPAYMENT AT THE OPTION OF HOLDERS 
 Section 14.01. Applicability of Article. Securities of any series that are repayable at the option of the Holders thereof before their Stated Maturity shall be repaid in accordance with their terms and (except as otherwise
specified pursuant to Section 3.01 for Securities of such series) in accordance with this Article. 
  

 75 

 Section 14.02. Repayment Of Securities. Each Security that is subject to repayment in whole
or in part at the option of the Holder thereof on a Repayment Date shall be repaid at the applicable Repayment Price together with interest accrued to such Repayment Date as specified pursuant to Section 3.01. 
 Section 14.03. Exercise of Option; Notice. Each Holder desiring to exercise such Holder’s option for repayment shall, as conditions to
such repayment, surrender the Security to be repaid in whole or in part together with written notice of the exercise of such option at any office or agency of the Company in a Place of Payment, not less than 30 nor more than 45 days prior to the
Repayment Date. Such notice, which shall be irrevocable, shall specify the principal amount of such Security to be repaid, which shall be equal to the minimum authorized denomination for such Security or an integral multiple thereof, and shall
identify the Security to be repaid and, in the case of a partial repayment of the Security, shall specify the denomination or denominations of the Security or Securities of the same series to be issued to the Holder for the portion of the principal
of the Security surrendered that is not to be repaid. 
 The Company shall execute and, upon receipt of a Company Order, the Trustee shall
authenticate and deliver without service charge to the Holder of any Security so surrendered a new Security or Securities of the same series, of any authorized denomination specified in the foregoing notice, in an aggregate principal amount equal to
any portion of the principal of the Security so surrendered that is not to be repaid. 
 For all purposes of this Indenture, unless the
context otherwise requires, all provisions relating to the repayment of Securities shall relate, in the case of any Security repaid or to be repaid only in part, to the portion of the principal of such Security that has been or is to be repaid.

 Section 14.04. Securities Payable on the Repayment Date. Notice of exercise of the option of repayment having been given and
the Securities so to be repaid having been surrendered as aforesaid, such Securities shall, unless purchased in accordance with this Section, on the Repayment Date become due and payable at the price therein specified and from and after the
Repayment Date such Securities shall cease to bear interest and shall be paid on the Repayment Date, unless the Company shall default in the payment of such price in which case the Company shall continue to be obligated for the principal amount of
such Securities and shall be obligated to pay interest on such principal amount at the rate borne by such Securities from time to time until payment in full of such principal amount. 
  

 76 

 * * * * 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

  

 77 

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

			
	PNC FINANCIAL SERVICES GROUP, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 THE BANK OF NEW YORK,
as Trustee

		
	By:	 	  

	Name:	 	
	Title:	 	

  

 78First Supplemental Indenture

 Exhibit 4.4 
 EXECUTION VERSION 
 FIRST SUPPLEMENTAL INDENTURE 

 between 
 THE PNC FINANCIAL
SERVICES GROUP, INC. 
 and 
 THE
BANK OF NEW YORK 
 Dated as of February 13, 2008 
 Supplement to Amended and Restated Junior Subordinated Indenture, 
 dated as of February 13, 2008

 TABLE OF CONTENTS 
  

					
	 	 	 	  	PAGE
		 	ARTICLE 1	  	
		 	DEFINITIONS	  	
			
	Section 1.01.	 	Definitions	  	2
			
		 	ARTICLE 2	  	
		 	GENERAL TERMS AND CONDITIONS OF THE JSNs	  	
			
	Section 2.01.	 	Designation, Principal Amount and Authorized Denomination	  	12
	Section 2.02.	 	Repayment	  	13
	Section 2.03.	 	Form	  	16
	Section 2.04.	 	Rate of Interest; Interest Payment Date	  	17
	Section 2.05.	 	Interest Deferral	  	17
	Section 2.06.	 	Dividend and Other Payment Stoppages during Deferral Period	  	18
	Section 2.07.	 	Alternative Payment Mechanism	  	20
	Section 2.08.	 	Redemption of the JSNs	  	22
	Section 2.09.	 	Events of Default.	  	23
	Section 2.10.	 	Securities Registrar; Paying Agent; Delegation of Trustee Duties.	  	24
	Section 2.11.	 	Obligation to Seek Shareholder Approval to Increase Authorized Share.	  	24
	Section 2.12.	 	Limitation on Claims in the Event of Bankruptcy, Insolvency or Receivership	  	24
	Section 2.13.	 	Amendment	  	25
			
		 	ARTICLE 3	  	
		 	REPAYMENT OF JSNs	  	
			
	Section 3.01.	 	Repayments	  	25
	Section 3.02.	 	Selection of the JSNs to be Repaid	  	25
	Section 3.03.	 	Notice of Repayment	  	25
	Section 3.04.	 	Deposit of Repayment Amount	  	26
	Section 3.05.	 	Repayment of JSNs	  	26
			
		 	ARTICLE 4	  	
		 	EXPENSES	  	
			
	Section 4.01.	 	Expenses	  	27
			
		 	ARTICLE 5	  	
		 	FORM OF JSN	  	
			
	Section 5.01.	 	Form of JSNs	  	28

  

 i 

					
		 	ARTICLE 6	  	
		 	ORIGINAL ISSUE OF JSNs	  	
			
	Section 6.01.	 	Original Issue of JSNs	  	35
	Section 6.02.	 	Calculation of Original Issue Discount	  	36
			
		 	ARTICLE 7	  	
		 	SUBORDINATION	  	
			
	Section 7.01.	 	Senior Indebtedness	  	36
	Section 7.02.	 	Compliance with Federal Reserve Rules	  	36
			
		 	ARTICLE 8	  	
		 	MISCELLANEOUS	  	
			
	Section 8.01.	 	Effectiveness	  	36
	Section 8.02.	 	Successors and Assigns	  	36
	Section 8.03.	 	Further Assurances	  	37
	Section 8.04.	 	Effect of Recitals	  	37
	Section 8.05.	 	Ratification of Indenture	  	37
	Section 8.06.	 	Governing Law	  	37

  

 ii 

 FIRST SUPPLEMENTAL INDENTURE, dated as
of February 13, 2008, between THE PNC FINANCIAL SERVICES GROUP, INC., a corporation duly organized and existing under the laws of the Commonwealth of Pennsylvania
(the “Company”), having its principal office at One PNC Plaza, 249 Fifth Avenue, Pittsburgh, Pennsylvania, 15222-2707, and THE BANK OF NEW
YORK, as trustee (hereinafter called the “Trustee”). 
 RECITALS
OF THE COMPANY 
 The Company and the Trustee entered into an Amended and Restated Junior
Subordinated Indenture, dated as of February 13, 2008 (the “Indenture”). 
 PNC Capital Trust E, a Delaware statutory
trust (the “Trust”), has offered to the public its trust preferred securities known as 7 3/4% Trust Preferred Securities (the “Trust Preferred Securities”), which are beneficial interests in the Trust, and
proposes to invest the proceeds from such offering, together with the proceeds of the issuance and sale by the Trust to the Company of its common securities (the “Trust Common Securities” and, together with the Trust Preferred
Securities, the “Trust Securities”), in the JSNs (as defined herein). 
 Section 9.01 of the Indenture provides that
the Company and the Trustee may, without the consent of any Holder, enter into a supplemental indenture to establish the form or terms of securities of any series as permitted by Section 2.01 or 3.01 thereof. 
 Pursuant to Sections 2.01 and 3.01 of the Indenture, the Company desires to provide for the establishment of a new series of Securities under the
Indenture, the form and substance of such Securities and the terms, provisions and conditions thereof to be set forth as provided in the Indenture and this First Supplemental Indenture. 
 The Company has delivered to the Trustee an Opinion of Counsel and an Officers’ Certificate pursuant to Section 9.03 of the Indenture to the
effect that all conditions precedent provided for in the Indenture to the Trustee’s execution and delivery of this First Supplemental Indenture have been complied with. 
 The Company has requested that the Trustee execute and deliver this First Supplemental Indenture and satisfy all requirements necessary to make this
First Supplemental Indenture a valid instrument in accordance with its terms, and to make the JSNs, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company and all acts and things necessary
have been done and performed to make this First Supplemental Indenture enforceable in accordance with its terms, and the execution and delivery of this First Supplemental Indenture has been duly authorized in all respects. 
 NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE
WITNESSETH: For and in consideration of the premises and the purchase of the JSNs by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the JSNs, as follows:

 ARTICLE 1 
 DEFINITIONS 
 Section 1.01. Definitions. For all purposes of this First
Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
 (a) Terms defined in the Indenture
or the Declaration of Trust (as defined herein) have the same meaning when used in this First Supplemental Indenture unless otherwise specified herein. 
 (b) The terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular. 
 (c) The words “herein,” “hereof” and “hereunder” and other words of similar import refer to this First Supplemental Indenture as a whole and not to any particular Article, Section or
other subdivision, and any reference to an Article, Section or other subdivision refers to an Article, Section or other subdivision of this First Supplemental Indenture. 
 (d) Any reference herein to “interest” shall include any Additional Interest. 
 “Alternative Payment Mechanism” has the meaning set forth in Section 2.07. 
 “APM Period”
means, with respect to any Deferral Period, the period commencing on the earlier of (i) the first Interest Payment Date following the commencement of such Deferral Period on which the Company pays any current interest on the JSNs or
(ii) the fifth anniversary of the commencement of the Deferral Period, and ending on the next Interest Payment Date on which the Company has raised an amount of Eligible Proceeds at least equal to the aggregate amount of accrued and unpaid
deferred interest on the JSNs. 
 “Business Combination” means a merger, consolidation, amalgamation or conveyance, transfer
or lease of assets substantially as an entirety by one Person to any other Person. 
 “Capital Treatment Event” means the
Company’s reasonable determination that, as a result of the occurrence of any amendment to, or change (including any announced prospective change) in, the laws (or any rules or regulations thereunder) of the United States or any political
subdivision thereof or therein, or as a result of any official or administrative pronouncement or action or 

  

 2 

 
judicial decision interpreting or applying such laws, rules or regulations, which amendment or change is effective or which pronouncement, action or decision
is announced on or after February 13, 2008, there is more than an insubstantial risk that the Company will not be entitled to treat an amount equal to the aggregate liquidation amount of the Trust Preferred Securities as “Tier 1
capital” (or the then equivalent thereof) for purposes of the capital adequacy guidelines of the Federal Reserve, as then in effect and applicable to the Company. 
 “Commercially Reasonable Efforts” to sell Replacement Capital Securities in accordance with the Replacement Capital Obligation means commercially reasonable efforts to complete the offer and sale of
Replacement Capital Securities to Persons other than Subsidiaries in public offerings or private placements. The Company shall not be considered to have made Commercially Reasonable Efforts to effect a sale of Replacement Capital Securities if it
determines not to pursue or complete such sale due to pricing, coupon, dividend rate or dilution considerations. 
 “Common
Stock” means the common stock of the Company (including Common Stock issued pursuant to the Company’s dividend reinvestment plan and employee benefit plans). 
 “Common Equity Issuance Cap” has the meaning specified in Section 2.07. 
 “Company” has the meaning specified in the Recitals. 
 “Creditor” has the meaning specified in Section 4.01. 
 “Current Stock Market
Price” means, with respect to the Common Stock on any date, (i) the closing sale price per share (or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the
average bid and the average ask prices) on that date as reported in composite transactions by the New York Stock Exchange, (ii) if the Common Stock is not then listed on the New York Stock Exchange, as reported by the principal U.S. securities
exchange on which the Common Stock is traded or quoted on the relevant date, (iii) if the Common Stock is not listed on any U.S. securities exchange on the relevant date the last quoted bid price for the Common Stock in the over-the-counter
market on the relevant date as reported by the Pink Sheets LLC or a similar organization, or (iv) if the Common Stock is not so quoted the average of the mid-point of the last bid and ask prices for the Common Stock on the relevant date from
each of at least three nationally recognized independent investment banking firms selected by the Company for this purpose. 
 “Declaration of Trust” means the Second Amended and Restated Declaration of Trust, dated as of February 13, 2008, among the Company, as Sponsor of the Trust, The Bank of New York, as the Property Trustee, BNYM
(Delaware), as the Delaware Trustee, and the Administrative Trustees. 
  

 3 

 “Debt Exchangeable for Common Equity” has the meaning specified in the Replacement
Capital Covenant. 
 “Debt Exchangeable for Preferred Equity” has the meaning specified in the Replacement Capital Covenant.

 “Deferral Period” means the period commencing on an Interest Payment Date with respect to which the Company elects to
defer interest pursuant to Section 2.05 and ending on the earlier of (i) the tenth anniversary of that Interest Payment Date and (ii) the next Interest Payment Date on which the Company has paid the amount deferred, all deferred
amounts with respect to any subsequent period and all other accrued and unpaid interest on the JSNs. The settlement of all deferred interest pursuant to Section 2.05(b), whether it occurs on an Interest Payment Date or another date, will
immediately terminate the Deferral Period. 
 “Eligible Proceeds” means, for each relevant Interest Payment Date, the net
proceeds (after deducting underwriters’ or placement agents’ fees, commissions or discounts and other expenses relating to the issuance or sale) the Company has received during the 180-day period prior to such Interest Payment Date from
the issuance or sale of Qualifying APM Securities (excluding sales of Qualifying Preferred Stock in excess of the Preferred Stock Issuance Cap) to Persons that are not Subsidiaries. 
 “Final Maturity Date” has the meaning specified in Section 2.02 provided, however, that if a date that would
otherwise be the Final Maturity Date is not a Business Day, the Final Maturity Date shall be the next succeeding Business Day. 
 “First Supplemental Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more agreements supplemental to the Indenture entered into pursuant to the
applicable provisions thereof. 
 “Guarantee Agreement” means the Guarantee Agreement between the Company, as guarantor, and
The Bank of New York, as trust preferred guarantee trustee, dated as of February 13, 2008. 
 “Indenture” has the
meaning specified in the Recitals. 
 “Intent-Based Replacement Disclosure” means, as to any security or combination of
securities (in this definition, collectively “securities”), that the issuer has publicly stated its intention, either in the prospectus or other offering document under which such securities were initially offered for sale or in
filings with the SEC made by the issuer under the Exchange Act prior to or contemporaneously with the issuance of such securities, that the issuer or its subsidiaries will redeem or purchase such securities only with the proceeds of Replacement
Capital Securities that have terms and provisions at the time of 

  

 4 

 
redemption or purchase that are as or more equity-like than the securities then being redeemed or purchased, raised within 180 days prior to the applicable
redemption or purchase date. Notwithstanding the use of the term “intent-based replacement disclosure” in the definitions of “Qualifying Preferred Stock” or in the definition of “Qualifying Capital Securities,” the
requirement in each such definition that a particular security or the related transaction documents include intent-based replacement disclosure shall be disregarded and given no force or effect for so long as the Company is a bank holding company
within the meaning of the Bank Holding Company Act of 1956, as amended. 
 “Interest Payment Dates” shall have the meaning
specified in Section 2.04. 
 “Interest Period” means the period from, and including, any Interest Payment Date (or, in
the case of the first Interest Payment Date, February 13, 2008) to but excluding the next Interest Payment Date. 
 “Investment
Company Event” means the receipt by the Trust of an opinion of counsel experienced in such matters to the effect that, as a result of any amendment to, or change (including any announced prospective change) in, the laws (or any regulations
thereunder) of the United States or any political subdivision or taxing authority thereof or therein, or as a result of any official administrative pronouncement or judicial decision interpreting or applying such laws or regulations, which amendment
or change is effective or which pronouncement or decision is announced on or after February 13, 2008, there is more than an insubstantial risk that the Trust is, or will be within 90 days of the date of such opinion of counsel, considered an
“investment company” that is required to be registered under the Investment Company Act. 
 “JSNs” has the meaning
specified in Section 2.01. 
 “Make-Whole Redemption Price” means, with respect to a redemption of the JSNs prior to
March 15, 2013 in whole after the occurrence of a Rating Agency Event, an amount equal to the greater of (a) 100% of the principal amount of the JSNs being redeemed and (b) the sum of the present values of the remaining scheduled
payments of principal (discounted from March 15, 2013) and interest that would have been payable to and including March 15, 2013 (discounted from their respective Interest Payment Dates) on the JSNs being redeemed (not including any
portion of such payments of interest accrued to the Redemption Date ) to the Redemption Date on a quarterly (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points, in each case, plus accrued and unpaid
interest to the Redemption Date. 
 “Mandatorily Convertible Preferred Stock” has the meaning specified in the Replacement
Capital Covenant 
  

 5 

 “Market Disruption Event” means, with respect to the issuance or sale of Replacement
Capital Securities pursuant to Section 2.02 or Qualifying APM Securities pursuant to Section 2.07, the occurrence or existence of any of the following events or sets of circumstances: 
 (i) Trading in securities generally (or in the Common Stock or Preferred Stock specifically) on the New York Stock Exchange or any other national
securities exchange or in the over-the-counter market, on which the Common Stock and/or Preferred Stock is then listed or traded, shall have been suspended or the settlement of such trading generally shall have been materially disrupted or minimum
prices shall have been established on any such exchange or market by the United States Securities and Exchange Commission, by the relevant exchange or by any other regulatory body or governmental body having jurisdiction, and the establishment of
such minimum prices materially disrupts or otherwise has a material adverse effect on trading in, or the issuance and sale of, Common Stock or Preferred Stock; 
 (ii) The Company would be required to obtain the consent or approval of a regulatory body (including, without limitation, any securities exchange but excluding the Federal Reserve) or governmental authority to issue
or sell Replacement Capital Securities or Qualifying APM Securities, as the case may be, and such consent or approval has not yet been obtained notwithstanding the Company’s Commercially Reasonable Efforts to obtain such consent or approval;

 (iii) The number of shares of Common Stock necessary to raise sufficient proceeds to pay the deferred interest payments would exceed the
Shares Available for Issuance and consent of the Company’s shareholders to increase the amount of authorized shares has not been obtained despite the Company having used Commercially Reasonable Efforts to obtain such consent; provided
that the foregoing Market Disruption Event will not relieve the Company of its obligation to issue the number of Shares Available for Issuance and to apply the proceeds thereof in partial payment of deferred interest; 
 (iv) A banking moratorium shall have been declared by the federal or state authorities of the United States such that market trading in the Common Stock
or Preferred Stock has been materially disrupted; 
 (v) A material disruption shall have occurred in commercial banking or securities
settlement or clearance services in the United States such that market trading in Qualifying APM Securities or Replacement Capital Securities, as the case may be, has been materially disrupted; 
 (vi) The United States shall have become engaged in hostilities, there shall have been an escalation in hostilities involving the United States, there
shall have been a declaration of a national emergency or war by the United States or there shall have occurred any other national or international calamity or crisis such that market trading in Qualifying APM Securities or Replacement Capital
Securities, as the case may be, has been materially disrupted; 
  

 6 

 (vii) There shall have occurred such a material adverse change in general domestic or international
economic, political or financial conditions, including without limitation as a result of terrorist activities, such that market trading in Qualifying APM Securities or Replacement Capital Securities, as the case may be, has been materially
disrupted; 
 (viii) An event occurs and is continuing as a result of which the offering document for the offer and sale of Replacement
Capital Securities or Qualifying APM Securities, as the case may be, would, in the reasonable judgment of the Company, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make
the statements therein not misleading and either (x) the disclosure of that event at such time, in the reasonable judgment of the Company, is not otherwise required by law and would have a material adverse effect on the business of the Company
or (y) the disclosure relates to a previously undisclosed proposed or pending material business transaction, the disclosure of which would impede the ability of the Company to consummate such transaction, provided that no single
suspension period contemplated by this paragraph (viii) shall exceed 90 consecutive days and multiple suspension periods contemplated by this paragraph (viii) shall not exceed an aggregate of 180 days in any 360-day period; or 

(ix) the Company reasonably believes that the offering document for such offer and sale of Replacement Capital Securities or Qualifying APM
Securities, as the case may be, would not be in compliance with a rule or regulation of the United States Securities and Exchange Commission (for reasons other than those referred to in paragraph (viii) above), and the Company is unable to
comply with such rule or regulation or such compliance is unduly burdensome, provided that no single suspension period contemplated by this paragraph (ix) shall exceed 90 consecutive days and multiple suspension periods contemplated by
this paragraph (ix) shall not exceed an aggregate of 180 days in any 360-day period. 
 “Market Value” has the meaning
specified in the Replacement Capital Covenant. 
 “Moody’s” means Moody’s Investors Services, Inc. 
 “NRSRO” means a nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the Securities
Exchange Act of 1934, as amended. 
 “Parity Securities” means debt securities or guarantees of the Company that rank in
right of payment and upon liquidation of the Company on a parity with the JSNs, and includes the JSNs. 
  

 7 

 “Paying Agent” means, with respect to the JSNs, The Bank of New York or any other Person
authorized by the Company to pay the principal of (and premium, if any) or interest on the JSNs on behalf of the Company. 
 “Paying
Agent Office” means the office of the applicable Paying Agent at which at any particular time its corporate agency business shall principally be administered in a Place of Payment, which office at the date hereof in the case of The Bank of
New York, in its capacity as Paying Agent with respect to the JSNs under the Indenture, is located at 101 Barclay Street, Floor 8 West, New York, New York 10286. 
 “Permitted Remedies” means, with respect to any securities, one or both of the following remedies: (i) rights in favor of the holders of such securities permitting such holders to elect one or
more directors of the issuer (including any such rights required by the listing requirements of any stock or securities exchange on which such securities may be listed or traded), and (ii) complete or partial prohibitions on the issuer paying
distributions on or repurchasing common stock or other securities that rank pari passu with or junior to such securities for so long as distributions on such securities, including unpaid distributions, remain unpaid. 
 “Preferred Stock” means the preferred stock of the Company. 
 “Preferred Stock Issuance Cap” has the meaning specified in Section 2.07. 
 “Qualifying APM Securities” means Common Stock, Qualifying Preferred Stock and Qualifying Warrants, provided that the Company
may, without the consent of the holders of the Trust Preferred Securities or the JSNs, amend the definition of “Qualifying APM Securities” to eliminate Common Stock or Qualifying Warrants (but not both) from this definition if,
after February 13, 2008, an accounting standard or interpretive guidance of an existing accounting standard issued by an organization or regulator that has responsibility for establishing or interpreting accounting standards in the United
States becomes effective such that there is more than an insubstantial risk that failure to eliminate Common Stock or Qualifying Warrants as a Qualifying APM Security would result in a reduction in the Company’s earnings per share as calculated
for financial reporting purposes. The Company will promptly notify the holders of the JSNs, and the trustees of the Trust will notify the holders of the Trust Preferred Securities, in the manner contemplated in the Indenture and the Declaration of
Trust, of such change. 
 “Qualifying Capital Securities” has the meaning specified in the Replacement Capital Covenant.

 “Qualifying Preferred Stock” means non-cumulative perpetual preferred stock issued by the Company that (a) ranks
pari passu with or junior to all of the 

  

 8 

 
other Preferred Stock, and (b) either (i) is subject to a Qualifying Replacement Capital Covenant or (ii) is subject to Intent-Based
Replacement Disclosure and has a provision that prohibits the Company from paying any dividends thereon upon the Company’s failure to satisfy one or more financial tests set forth therein, and (c) as to which the transaction documents
provide for no remedies as a consequence of non-payment of dividends other than Permitted Remedies. 
 “Qualifying Replacement
Capital Covenant” has the meaning specified in the Replacement Capital Covenant. 
 “Qualifying Warrants” means any
net share settled warrants to purchase Common Stock that (a) have an exercise price greater than the Current Stock Market Price of the Common Stock and (b) that the Company is not entitled to redeem for cash and the holders of which are
not entitled to require the Company to repurchase for cash in any circumstances. 
 “Rating Agency Event” means an
amendment, clarification or change has occurred after February 13, 2008 in the equity criteria for securities such as the JSNs of any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the
Exchange Act that then publishes a rating for the Company (a “Rating Agency”), which amendment, clarification or change results in (i) the length of time for which such current criteria are scheduled to be in effect being
shortened with respect to the JSNs or (ii) a lower equity credit for the JSNs than the then respective equity credit assigned by such Rating Agency or its predecessor on February 13, 2008. 
 “Redemption Date” means the date on which the Company elects to redeem the Securities. 
 “Redemption Price” has the meaning specified in Section 2.08. 
 “REIT Preferred Securities” has the meaning specified in the Replacement Capital Covenant. 
 “Repayment Date” means the Scheduled Redemption Date and each Interest Payment Date thereafter until the Company shall have repaid or
redeemed all of the JSNs. 
 “Replacement Capital Covenant” means the Replacement Capital Covenant, dated as of
February 13, 2008, by the Company, as the same may be amended or supplemented from time to time in accordance with the provisions thereof and Section 2.02 hereof. 
 “Replacement Capital Obligation” has the meaning specified in Section 2.02. 
  

 9 

 “Replacement Capital Securities” has the meaning given in the Replacement Capital
Covenant. 
 “Responsible Officer” means, with respect to The Bank of New York in its capacity as Paying Agent, any officer
within the Corporate Trust Department (or any successor department, unit or division of The Bank of New York) assigned to the Paying Agent Office of The Bank of New York, in its capacity as Paying Agent, who has direct responsibility for the
administration of the Paying Agent functions of the Indenture. 
 “Scheduled Redemption Date” has the meaning specified in
Section 2.02 provided, however, that if a date that would otherwise be the Scheduled Redemption Date is not a Business Day, the Scheduled Redemption Date shall be the next succeeding Business Day. 
 “Securities Registrar” means, with respect to the JSNs, The Bank of New York, or any other firm appointed by the Company, acting as
securities registrar for the JSNs. 
 “Securities Registrar Office” means the office of the applicable Securities Registrar
at which at any particular time its corporate agency business shall principally be administered, which office at the date hereof in the case of The Bank of New York, in its capacity as Securities Registrar under the Indenture, is located at 101
Barclay Street, Floor 8 West, New York, NY 10286. 
 “Shares Available for Issuance” shall be determined, at any time, by
(i) deducting from the number of authorized and unissued shares of Common Stock the maximum number of shares of Common Stock that can be issued under existing reservations and commitments under which the Company is able to determine such
maximum number and (ii) allocating the remaining authorized and unissued shares of Common Stock on a pro rata basis or such other basis as the Company determines is appropriate to the Alternative Payment Mechanism described in
Section 2.07 hereof and to any other similar commitment that is of an indeterminate nature and under which the Company is then required to issue shares. 
 “Special Record Date” has the meaning specified in Section 2.05(c). 
 “Standard & Poor’s” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. 
 “Supervisory Event” shall commence upon the date the Company has notified the Federal Reserve of its intention and affirmatively requested Federal Reserve approval both (1) to sell Qualifying APM Securities and
(2) to apply the net proceeds of such sale to pay deferred interest on the JSNs, and the Company has been notified that the Federal Reserve disapproves of either of these actions, even though the Company has affirmatively requested approval. A
Supervisory 

  

 10 

 
Event shall cease on the Business Day following the earlier to occur of (i) the tenth anniversary of the commencement of any Deferral Period or
(ii) the day on which the Federal Reserve notifies the Company in writing that it no longer disapproves of the Company’s intention to both (1) issue or sell Qualifying APM Securities and (2) apply the net proceeds from such sale
to pay deferred interest on the JSNs. 
 “Tax Event” means the receipt by the Company of an opinion of counsel experienced
in such matters to the effect that, as a result of any: 
 (i) amendment to or change (including any announced prospective change) in the laws
or regulations of the United States or any political subdivision or taxing authority of or in the United States that is effective on or after February 13, 2008; or 
 (ii) official administrative decision or judicial decision interpreting or applying those laws or regulations that is announced on or after February 13, 2008; 
 there is more than an insubstantial risk that: 
 (A) the Trust is, or will be within 90 days of the date of such opinion, subject to United States federal income tax with respect to income received or accrued on the JSNs; 
 (B) interest payable by the Company on the JSNs is not, or within 90 days of the date of such opinion will not be, deductible by the
Company, in whole or in part, for United States federal income tax purposes; or 
 (C) the Trust is, or will be within 90 days
of the date of such opinion, subject to more than a de minimis amount of other taxes, duties or other governmental charges. 
 “Trading Day” means a day on which the Common Stock is traded on the New York Stock Exchange, or if not then listed on the New York Stock Exchange, a day on which the Common Stock is traded or quoted on the principal U.S.
securities exchange on which it is listed or quoted, or if not then listed or quoted on a U.S. securities exchange, a day on which the Common Stock is quoted in the over-the-counter market. 
 “Treasury Dealer” means Morgan Stanley & Co. Incorporated, Citigroup Global Markets Inc. or Merrill Lynch, Pierce,
Fenner & Smith Incorporated (or their respective successors) or, if any of Morgan Stanley & Co. Incorporated, Citigroup Global Markets Inc. or Merrill Lynch, Pierce, Fenner & Smith Incorporated (or their respective
successors) refuses to act as Treasury Dealer for the purpose of determining the Make-Whole Redemption Price or ceases to be a 

  

 11 

 
primary United States Government securities dealer, another nationally recognized investment banking firm that is a primary United States Government
securities dealer specified by the Company for these purposes. 
 “Treasury Price” means, with respect to a Redemption Date,
the bid-side price for the Treasury Security at or around 3:30 p.m., New York City time, on that Trading Day (expressed on a next Trading Day settlement basis) as determined by the Treasury Dealer through such alternative means as are commercially
reasonable under the circumstances. 
 “Treasury Rate” means, with respect to a Redemption Date, the semi-annual equivalent
yield to maturity of the Treasury Security that corresponds to the Treasury Price (calculated in accordance with standard market practice and computed as of the second Trading Day preceding the Redemption Date). 
 “Treasury Security” means the United States Treasury security that the Treasury Dealer determines would be appropriate to use, at the
time of determination and in accordance with standard market practice, in pricing the JSNs being redeemed in a tender offer based on a spread to United States Treasury yields. 
 “Trust” has the meaning specified in the Recitals. 
 “Trust Common Securities” has the meaning specified in the Recitals. 
 “Trustee” has the meaning specified in the Recitals. 
 “Trust Preferred Securities” has the
meaning specified in the Recitals. 
 “Trust Securities” has the meaning specified in the Recitals. 
 “Underwriting Agreement” means the Underwriting Agreement, dated as of February 6, 2008, among the Trust, the Company and the
underwriters named therein. 
 ARTICLE 2 
 GENERAL TERMS AND CONDITIONS OF THE JSNs 
 Section 2.01. Designation, Principal Amount and Authorized Denomination. There is hereby authorized a series of Securities designated the 7 3/4% Junior Subordinated Notes due March 15, 2068 (the
“JSNs”), the amount of which to be issued shall be as set forth in any Company Order for the authentication and delivery of JSNs pursuant to the Indenture. The denominations in which JSNs shall be issuable is $1,000 principal amount
and integral multiples thereof. 
  

 12 

 Section 2.02. Repayment. The principal amount of the JSNs, together with accrued and unpaid
interest, is due and payable on March 15, 2068, (the “Final Maturity Date”). If that day is not a Business Day, such principal and interest will be due and payable on the next Business Day without adjustment. However, the
Company shall redeem the JSNs on March 15, 2038 (the “Scheduled Redemption Date”), but only out of net proceeds raised from the sale to third party purchasers of one or more issuances of Replacement Capital Securities in the
amounts specified in the case of: 
 (i) Common Stock and rights to acquire Common Stock, valued at 200% of their net cash
proceeds, 
 (ii) Common Stock delivered, as consideration for property or assets in an arms’ length transaction or in
connection with the conversion or exchange of any convertible or exchangeable securities (other than securities for which the Company or any Subsidiaries have received equity credit from any NRSRO), valued at 200% of the Market Value of such Common
Stock, 
 (iii) REIT Preferred Securities, valued at 100% of their net cash proceeds, and 
 (iv) Qualifying Capital Securities, Debt Exchangeable for Common Equity, Mandatorily Convertible Preferred Stock, Qualifying Preferred
Stock and Debt Exchangeable for Preferred Equity, in each case valued at 100% of their net cash proceeds. 
 This obligation is referred to
as the “Replacement Capital Obligation.” If the Scheduled Redemption Date is not a Business Day, the Scheduled Redemption Date shall be the following Business Day. 
 The Company’s obligation to redeem the JSNs on the Scheduled Redemption Date is subject to prior approval of the Federal Reserve, if such approval
is then required, under the Federal Reserve’s capital guidelines applicable to bank holding companies. 
 In addition, the
Company’s obligation to redeem the JSNs on the Scheduled Redemption Date is limited in the following respects. The Company shall use its Commercially Reasonable Efforts (except as described below) to raise sufficient net proceeds from the
issuance of Replacement Capital Securities to repay the JSNs on the Scheduled Redemption Date, only to the extent that the Company has raised sufficient net proceeds within the 180-day period prior to the Scheduled Redemption Date, subject to the
occurrence of a Market Disruption Event. The Company shall notify holders of the JSNs and the Trust Preferred Securities and the Trustee not more than 60 and not less than 30 days prior to the Scheduled Redemption Date of its expectation to redeem
the JSNs. If the Company has not raised sufficient proceeds to permit repayment of all principal and accrued and unpaid interest on the JSNs on the Scheduled Redemption Date, the Company will apply any available proceeds so raised: 
 (i) to pay accrued and unpaid interest in chronological order; and 
  

 13 

 (ii) to repay all principal outstanding on the JSNs. 
 Each holder of the Trust Preferred Securities will be entitled to receive its pro rata share of any amounts received on the JSNs. 
 The Company will agree to continue using its Commercially Reasonable Efforts (except as described below) to raise sufficient proceeds to permit repayment
of the balance of the amount due on the JSNs as soon as commercially practicable and will use any proceeds raised, on each Interest Payment Date following the Scheduled Redemption Date, to reduce the balance outstanding on such Interest Payment Date
until the JSNs are paid in full. The Replacement Capital Obligation will continue to apply until the first to occur of: 
 (i)
March 15, 2048; 
 (ii) the date the Company has raised sufficient net proceeds to permit repayment of the JSNs in full
in accordance with the Replacement Capital Obligation; and 
 (iii) an Event of Default resulting in acceleration of the JSNs
under the Indenture. 
 Except under the circumstances described below, the Company’s failure to use Commercially Reasonable Efforts to
raise sufficient proceeds would be a breach of covenant under the Indenture. However, in no event will such failure be an Event of Default thereunder. 
 The Company may amend or supplement the Replacement Capital Obligation with the consent of the holders of a majority by liquidation preference of the Trust Preferred Securities or, if the JSNs have been distributed by
the property trustee, the holders of a majority by principal amount of the JSNs. The Company may, acting alone and without the consent of the such holders, amend or supplement the Replacement Capital Obligation: 
 (i) to eliminate Common Stock, Debt Exchangeable for Common Equity, rights to acquire Common Stock, and/or Mandatorily Convertible
Preferred Stock as Replacement Capital Securities if, after the date of the Replacement Capital Obligation, the Company has been advised in writing by a nationally recognized independent accounting firm or an accounting standard or interpretive
guidance of an existing accounting standard issued by an organization or regulator that has 

  

 14 

 
responsibility for establishing or interpreting accounting standards in the United States becomes effective such that there is more than an insubstantial
risk that failure to do so would result in a reduction in the Company’s earnings per share as calculated in accordance with generally accepted accounting principles in the United States; 
 (ii) if the amendment or supplement is not adverse to such holders and one of the Company’s officers has delivered a written
certificate to such holders to this effect; or 
 (iii) if the effect of such amendment or supplement is solely to impose
additional restrictions on, or eliminate certain of, the types of securities qualifying as Replacement Capital Securities (other than the securities covered by (i) above), and one of the Company’s officers has delivered a written
certificate to such holders stating that, in his or her determination, such amendment or supplement would not adversely affect them. 
 Any
principal amount of the JSNs remaining outstanding, together with accrued and unpaid interest, will be due and payable on the Final Maturity Date (or if this day is not a Business Day, the following Business Day, without adjustment), regardless of
the amount of Replacement Capital Securities the Company has issued and sold by that time. 
 The Company shall not be required to redeem the
JSNs on or after the Scheduled Redemption Date to the extent the Company provides written certification to the Trustee (which the Trustee will forward upon receipt to the Property Trustee which will in turn forward upon receipt to each holder of
record of the Trust Preferred Securities) no more than 15 and no less than 10 Business Days in advance of the required repayment date certifying that: 
 (i) a Market Disruption Event was existing during the 180-day period preceding the date of the certificate or, in the case of any required repayment after the Scheduled Redemption Date, the 90-day period preceding the
date of the certificate; and 
 (ii) either (a) the Market Disruption Event continued for the entire 180-day period or
90-day period, as the case may be, or (b) the Market Disruption Event continued for only part of the period, but the Company was unable, after Commercially Reasonable Efforts, to raise sufficient net proceeds during the rest of that period to
permit repayment of the JSNs in full. 
 Net proceeds that the Company is permitted to apply to repayment of the JSNs on and after the
Scheduled Redemption Date will be applied: 
 (i) first, to pay deferred interest to the extent of eligible proceeds under the
Alternative Payment Mechanism; 
  

 15 

 (ii) second, to pay current interest that the Company is not paying from other sources;
and 
 (iii) third, to repay the principal of JSNs, subject to a minimum principal amount of $5 million to be repaid on the
Scheduled Redemption Date or any subsequent Interest Payment Date; 
 provided that if the Company is obligated to sell
Replacement Capital Securities in accordance with the Replacement Capital Obligation and apply the net proceeds to payments of principal of or interest on any outstanding securities in addition to the JSNs, then on any date and for any period the
amount of net proceeds received by the Company from those sales and available for such payments shall be applied to the JSNs and those other securities having the same scheduled repayment date or Scheduled Redemption Date as the JSNs pro rata in
accordance with their respective outstanding principal amounts and none of such net proceeds shall be applied to any other securities having a later scheduled repayment date or Scheduled Redemption Date until the principal of and all accrued and
unpaid interest on the JSNs has been paid in full. If the Company raises less than $5 million of proceeds from the sale of Replacement Capital Securities during the relevant 180-day or 90-day period, the Company shall not be required to repay any
JSNs on the Scheduled Redemption Date or the next Interest Payment Date, as applicable, but will use those net proceeds to repay the JSNs on the next Interest Payment Date as of which the Company has raised at least $5 million of net proceeds.

 Section 2.03. Form. The JSNs shall be issued in fully registered definitive form without interest coupons. Principal of and
interest on the JSNs issued in definitive form will be payable, the transfer of such JSNs will be registrable and such JSNs will be exchangeable for JSNs bearing identical terms and provisions and notices and demands to or upon the Company in
respect of the JSNs and the Indenture may be served at the Corporate Trust Office of the Trustee, and the Company appoints the Trustee as its agent for the foregoing purposes, provided that payment of interest may be made at the option of the
Company by check mailed to the Holder at such address as shall appear in the Securities Register or by wire transfer in immediately available funds to the bank account number of the Holder specified in writing by the Holder not less than 10 days
before the relevant Interest Payment Date and entered in the Securities Register by the Securities Registrar, provided further that if the Property Trustee, on behalf of the Trust, is the sole Holder of the JSNs then payment of interest shall
be made by wire transfer in immediately available funds to a bank account number specified by the Property Trustee. The JSNs may be presented for registration of transfer or exchange at the Securities Registrar Office. 
  

 16 

 Section 2.04. Rate of Interest; Interest Payment Date. (a) Rate of Interest. The
JSNs shall bear interest from and including February 13, 2008 to but excluding March 15, 2068 at the rate of 7 3/4% per annum, computed on the basis of a 360 day year comprised of twelve 30 day months. Accrued interest
that is not paid on the applicable Interest Payment Date, including interest deferred pursuant to Section 2.05, will bear Additional Interest, to the extent permitted by law, at the interest rate in effect from time to time on the JSNs, from
the relevant Interest Payment Date, compounded on each subsequent Interest Payment Date. 
 (b) Interest Payment Date. Subject to the
other provisions hereof, interest on the JSNs shall be payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, commencing on June 15, 2008, until and including March 15,
2068 (each such date, an “Interest Payment Date”), or if any such day is not a Business Day, the following Business Day (and no interest shall accrue as a result of such postponement). The record date for an Interest Payment Date
shall be the last day of the month immediately preceding the month in which the interest payment date falls, whether or not a Business Day. 
 Section 2.05. Interest Deferral. Option to Defer Interest Payments. 
 (i) The Company shall have the
right at any time and from time to time, to defer the payment of interest on the JSNs for one or more consecutive Interest Periods that do not exceed 10 years, provided that no Deferral Period shall extend beyond the Final Maturity Date or
the earlier repayment or redemption in full of the JSNs. Upon termination of any Deferral Period and upon the payment of all deferred interest then due on any Interest Payment Date the Company may elect to begin a new Deferral Period pursuant to
this Section 2.05. At the end of any Deferral Period, the Company shall pay all deferred interest on the JSNs to the Persons in whose names the JSNs are registered in the Securities Register at the close of business on the Regular Record Date
with respect to the Interest Payment Date at the end of such Deferral Period. 
 (ii) The Company may elect to pay interest on
any Interest Payment Date during any Deferral Period to the extent permitted by Section 2.05(b). 
 (b) Payment of Deferred
Interest. The Company will not pay deferred interest on the JSNs on any Interest Payment Date during any Deferral Period prior to the Final Maturity Date or at any time an Event of Default has occurred and is continuing from any source other
than Eligible Proceeds. Notwithstanding the foregoing, (i) the Company may pay current interest during a Deferral Period or at any other time from any available funds and (ii) if a Supervisory Event has occurred and is continuing, then the
Company may (but is not obligated to) pay deferred interest with cash from any source. In addition, if the Company sells Qualifying APM Securities pursuant to Section 2.07 but a Supervisory Event arises from the Federal Reserve disapproving the
use of the proceeds to pay deferred interest, the Company may use the proceeds for other purposes and continue to defer interest on the JSNs. 
  

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 (c) Business Combination Exception. If the Company is involved in a Business Combination where
immediately after its consummation more than 50% of the voting stock of the Person formed by such Business Combination, or the Person that is the surviving entity of such Business Combination, or the Person to whom such properties and assets are
conveyed, transferred or leased in such Business Combination, is owned by the shareholders of the other party to such Business Combination, then Section 2.05(b) and Section 2.07 shall not apply to any Deferral Period that is terminated on
the next Interest Payment Date following the date of consummation of such Business Combination (or if later, at any time within 90 days following the date of consummation of the Business Combination). The Company will establish a record date for the
payment of any deferred interest pursuant to this Section 2.05(c) on a date other than an Interest Payment Date (a “Special Record Date”). 
 (d) Notice of Deferral. The Company shall give written notice of its election to begin or extend any Deferral Period, (x) if the Property Trustee, on behalf of the Trust, is the sole Holder of the JSNs, to
the Property Trustee and the Delaware Trustee at least five Business Days before the earlier of (A) the next succeeding date on which the distributions on the Trust Preferred Securities are payable and (B) the date the Property Trustee is
required to give notice to holders of the Trust Preferred Securities of the record or payment date for the related distribution, or (y) if the Property Trustee, on behalf of the Trust, is not the sole Holder of the JSNs, to Holders of the JSNs
and the Trustee at least five Business Days before the next Interest Payment Date. Notice of the Company’s election of a Deferral Period shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not less than three
Business Days after the Property Trustee receives written notice from the Company to each holder of Trust Securities at such holder’s address appearing in the Security Register. 
 Section 2.06. Dividend and Other Payment Stoppages during Deferral Period.  
 (a) Dividend and Other Payment Stoppages. So long as any JSNs remain outstanding, if the Company has given notice of its election to defer interest
payments on the JSNs but the related Deferral Period has not yet commenced or a Deferral Period is continuing, the Company shall not, and shall not permit any Subsidiary of the Company to: 
 (i) declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any
shares of capital stock of the Company; 
 (ii) make any payment of principal of or interest or premium, if any, on or repay,
purchase or redeem any Parity Securities or any debt securities or guarantees of the Company that rank junior in right of payment and upon the Company’s liquidation to the JSNs; or 
  

 18 

 (iii) make any payments under any guarantee by the Company that ranks pari passu with or
junior to the Guarantee Agreement; 
 provided, however, the restrictions in clauses (i), (ii) and (iii) above do not apply to:
(1) any repurchase, redemption or other acquisition of shares of its capital stock by the Company in connection with (A) any employment contract, benefit plan or other similar arrangement with or for the benefit of any one or more of its
employees, officers, directors, consultants or independent contractors, (B) the satisfaction of the Company’s obligations pursuant to any contract entered into in the ordinary course prior to the beginning of the applicable Deferral
Period, (C) a dividend reinvestment or shareholder purchase plan, or (D) the issuance of the Company’s capital stock, or securities convertible into or exercisable for such capital stock, as consideration in an acquisition transaction
entered into prior to the applicable Deferral Period, (2) any exchange, redemption or conversion of any class or series of the Company’s capital stock, or the capital stock of one of its Subsidiaries, for any other class or series of its
capital stock, or of any class or series of its indebtedness for any class or series of its capital stock, (3) any purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions
of such capital stock or the securities being converted or exchanged, (4) any declaration of a dividend in connection with any shareholder rights plan, or the issuance of rights, stock or other property under any shareholder rights plan, or the
redemption or purchase of rights pursuant thereto, (5) payments by the Company under any guarantee agreement executed for the benefit of the holders of the Trust Preferred Securities, (6) any dividend in the form of stock, warrants,
options or other rights where the dividend stock or stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks equally with or junior to such stock, (7) any
payment of current or deferred interest on Parity Securities that is made pro rata to the amounts due on such Parity Securities (including the JSNs) and any payments of deferred interest on Parity Securities that, if not made, would cause the
Company to breach the terms of the instrument governing such Parity Securities, provided that such payments are made in accordance with Section 2.07(c) to the extent it applies, or (8) any payment of principal on Parity Securities
necessary to avoid a breach of the instrument governing such Parity Securities. The distribution restrictions and exceptions in this Section 2.06 shall be in lieu of the distribution restrictions and exceptions in Section 3.11 of the
Indenture. 
 (b) Additional Limitation on Deferral over One Year. If any Deferral Period lasts longer than one year, neither the
Company nor any of its Subsidiaries may repurchase or acquire any securities ranking junior to or pari passu with any Qualifying APM Securities the proceeds of which were used to settle deferred interest during the relevant Deferral Period
before the first anniversary of the date on which all deferred interest on the JSNs has been paid, subject to the exceptions 

  

 19 

 
listed in Section 2.06(a). However, if the Company is involved in a Business Combination then the one year restriction on such repurchases in the
preceding sentence will not apply to any Deferral Period that is terminated on the next Interest Payment Date following the date of consummation of such Business Combination (or if later, at any time within 90 calendar days following the date of
consummation of such Business Combination). 
 Section 2.07. Alternative Payment Mechanism. (a) Obligation to Issue
Qualifying APM Securities. During the APM Period, the Company shall, subject to the occurrence and continuation of a Supervisory Event or a Market Disruption Event as described under Section 2.07(b) and subject to Section 2.05(c),
issue one or more types of Qualifying APM Securities until the Company has raised an amount of Eligible Proceeds at least equal to the aggregate amount of accrued and unpaid deferred interest on the JSNs and applied such Eligible Proceeds on the
next Interest Payment Date to the payment of deferred interest in accordance with Section 2.06, provided that: 
 (i) The Company may, but is not obligated to pay deferred interest with cash from any source if a Supervisory Event has occurred and is continuing; 
 (ii) the foregoing obligations shall not apply to the extent that, with respect to deferred interest attributable to the first five years
of any Deferral Period, the net proceeds of any issuance of Common Stock (or, if the definition of Qualifying APM Securities has been modified to exclude Common Stock, Qualifying Warrants) applied during such Deferral Period to pay interest on the
JSNs pursuant to this Section 2.07, together with the net proceeds of all prior issuances of Common Stock and Qualifying Warrants so applied, would exceed an amount equal to 2% of the product of the average of the Current Stock Market Prices of
the Common Stock on the 10 consecutive Trading Days ending on the second Trading Day immediately preceding the date of issuance multiplied by the total number of issued and outstanding shares of Common Stock as of the date of the Company’s then
most recent publicly available consolidated financial statements (the “Common Equity Issuance Cap”); provided that the Common Equity Issuance Cap will cease to apply after the fifth anniversary of the commencement of any
Deferral Period, at which point the Company must pay any deferred interest regardless of the time at which it was deferred, pursuant to this Section 2.07, subject to any Supervisory Event or Market Disruption Event; and provided,
further, that if the Common Equity Issuance Cap is reached during an Deferral Period and the Company subsequently repays all deferred interest, the Common Equity Issuance Cap will cease to apply at the termination of such Deferral Period and
will not apply again unless and until the Company starts a new Deferral Period; and 
  

 20 

 (iii) the foregoing obligations shall not apply to the extent that the net proceeds of
any issuance of Qualifying Preferred Stock applied to pay interest on the JSNs pursuant to this Section 2.07, together with the net proceeds of all prior issuances of Preferred Stock so applied during the current and all prior Deferral Periods,
would exceed 25% of the aggregate principal amount of the JSNs initially issued under the Indenture (the “Preferred Stock Issuance Cap”). 
 For the avoidance of doubt, (x) once the Company reaches the Common Equity Issuance Cap for an Deferral Period, the Company shall not be required to issue more Common Stock with respect to deferred interest
attributable to the first five years of such Deferral Period pursuant to this Section 2.07, even if the amount referred to in clause (ii) of this Section 2.07 subsequently increases because of a subsequent increase in the Current
Stock Market Price of Common Stock or the number of outstanding shares of Common Stock, and (y) so long as the definition of Qualifying APM Securities has not been amended to eliminate Common Stock, the sale of Qualifying Warrants to pay
deferred interest is an option that may be exercised at the Company’s sole discretion, subject to the Common Equity Issuance Cap, and the Company is not obligated to sell Qualifying Warrants or to apply the proceeds of any such sale to pay
deferred interest on the JSNs, and no class of investors of the Company’s securities, or any other party, may require the Company to issue Qualifying Warrants. 
 This mechanism is referred to as the “Alternative Payment Mechanism.” 
 (b) Market
Disruption Event and Supervisory Event. Section 2.07 shall not apply, with respect to any Interest Payment Date, if the Company shall have provided to the Trustee (which the Trustee shall forward upon receipt to the Property Trustee of the
Trust who will in turn forward upon receipt to each holder of record of Trust Preferred Securities) no more than 15 and no less than 10 Business Days prior to such Interest Payment Date an Officers’ Certificate stating that (i) a Market
Disruption Event was existing after the immediately preceding Interest Payment Date and (ii) either (x) the Market Disruption Event continued for the entire period from the Business Day immediately following the preceding Interest Payment
Date to the Business Day immediately preceding the date on which such Officers’ Certificate is provided or (y) the Market Disruption Event continued for only part of such period but the Company was unable after Commercially Reasonable
Efforts to raise sufficient Eligible Proceeds during the rest of that period to pay all accrued and unpaid interest due on the Interest Payment Date with respect to which such Officers’ Certificate is being delivered. Section 2.07 shall
not apply, with respect to any Interest Payment Date, if the Company shall have provided to the Trustee (and to the Property Trustee of the Trust to the extent the Trust is the sole Holder of the JSNs) on or prior to such Interest Payment Date an
Officers’ Certificate stating that (i) a Supervisory Event was existing after the immediately preceding Interest Payment Date and (ii) either (x) the Supervisory Event prevented the sale of Qualifying APM Securities for the
entire period from the Business Day immediately following the preceding Interest 

  

 21 

 
Payment Date to the Business Day immediately preceding the date on which such Officers’ Certificate is provided or (y) the Supervisory Event
prevented the sale of Qualifying APM Securities for only part of such period but the Company was unable after Commercially Reasonable Efforts to raise sufficient Eligible Proceeds during the rest of that period to pay all accrued and unpaid interest
due on the Interest Payment Date with respect to which such Officers’ Certificate is being delivered or (z) the Supervisory Event prevents the Company from applying the net proceeds of sales of Qualifying APM Securities to pay deferred
interest on such Interest Payment Date. 
 (c) Partial Payment of Deferral Interest. (i) If the Company has raised some but not
all Eligible Proceeds necessary to pay all deferred interest on any Interest Payment Date pursuant to this Section 2.07, such Eligible Proceeds shall be allocated to pay accrued and unpaid interest on the applicable Interest Payment Date in
chronological order based on the date each payment was first deferred, subject to the Common Equity Issuance Cap and the Preferred Stock Issuance Cap, and payment on each installment of deferred interest shall be distributed to Holders of such
installment on a pro rata basis. 
 (ii) If the Company has outstanding Parity Securities under which the Company is
obligated to sell securities that are Qualifying APM Securities and apply the net proceeds to the payment of deferred interest or distributions, then on any date and for any period the amount of net proceeds received by the Company from those sales
and available for payment of the deferred interest and distributions shall be applied to the JSNs and those other Parity Securities on a pro rata basis up to the Common Equity Issuance Cap and the Preferred Stock Issuance Cap (or comparable
provisions in the instruments governing those other Parity Securities) in proportion to the total amounts that are due on the JSNs and such other Parity Securities, or on such other basis as the Federal Reserve may approve. 
 (d) Qualifying APM Securities Definition Change. The Company shall send written notice to the Trustee (which notice the Trustee shall promptly
forward upon receipt to the Administrative Trustees, who shall forward such notice to each holder of record of Trust Preferred Securities) in advance of any change in the definition of Qualifying APM Securities to eliminate Common Stock or
Qualifying Warrants. 
 Section 2.08. Redemption of the JSNs. (a) The JSNs shall be redeemable in accordance with Article 11
of the Indenture. The JSNs: 
 (i) shall be redeemable, in whole or in part, at the Company’s option at any time on or
after March 15, 2013; and 
 (ii) shall be redeemable, in whole but not in part, at any time within 90 days following the
occurrence of and during the continuation of a Tax Event, Investment Company Event, Capital Treatment Event or Rating Agency Event. 
  

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 Any redemption of the JSNs before the Final Maturity Date shall be subject to prior approval of the
Federal Reserve, if such approval is then required, under the Federal Reserve’s capital guidelines applicable to bank holding companies. 
 (b) Redemption Price. The redemption price of the JSNs shall be equal to (i) 100% of the principal amount of the JSNs being redeemed or (ii) in the case of a redemption prior to March 15, 2013 after the occurrence of a
Rating Agency Event at the Make-Whole Redemption Price. In the case of a redemption within 90 days after the occurrence of a Tax Event, Investment Company Event or Capital Treatment Event, the redemption price will be equal to 100% of the principal
amount of the JSNs, plus accrued and unpaid interest to the Redemption Date (the “Redemption Price”). 
 (c) The Company may
not redeem the JSNs in part if the principal amount of the JSNs has been accelerated and such acceleration has not been rescinded unless all accrued and unpaid interest including deferred interest has been paid in full on all outstanding JSNs for
all Interest Periods terminating on or before the Redemption Date. In addition, the Company may not redeem the JSNs in part if partial redemption would result in the delisting of the Trust Preferred Securities from the New York Stock Exchange or any
other national securities exchange or the over-the-counter market on which the Trust Preferred Securities are then listed or traded. 
 (d)
Sinking Fund. The JSNs are not entitled to any sinking fund payments or similar provisions. 
 Section 2.09. Events of
Default.  
 (a) So long as any JSNs are held by or on behalf of the Trust, the Trustee shall provide to the holders of the Trust
Preferred Securities such notices as it shall from time to time provide under Section 5.16 of the Indenture. In addition, the Trustee shall provide to the holders of the Trust Preferred Securities notice of any Event of Default or event that,
with the giving of notice or lapse of time, or both, would become an Event of Default with respect to the JSNs within 60 days after the actual knowledge of a Responsible Officer of the Trustee of such Event of Default or other event. 
 (b) For the avoidance of doubt, and without prejudice to any other remedies that may be available to the Trustee, the Holders of the JSNs or the holders
of the Trust Preferred Securities under the Indenture, no breach by the Company of any covenant or obligation under the Indenture or the terms of the JSNs shall be an Event of Default with respect to the JSNs other than those specified as Events of
Default in Section 5.1 of the Indenture. 
  

 23 

 Section 2.10. Securities Registrar; Paying Agent; Delegation of Trustee Duties.  

(a) The Company appoints The Bank of New York, as Securities Registrar and Paying Agent with respect to the JSNs. 
 (b) Notwithstanding any provision contained herein, to the extent permitted by applicable law, the Trustee may delegate its duty to provide such notices
and to perform such other duties as may be required to be provided or performed by the Trustee under the Indenture, and, to the extent such obligation has been so delegated, the Trustee shall not be responsible for monitoring the compliance of, nor
be liable for the default or misconduct of, any such designee. 
 Section 2.11. Obligation to Seek Shareholder Approval to Increase
Authorized Share.  
 (a) Obligation to Seek Shareholder Approval. The Company shall use Commercially Reasonable Efforts to seek
shareholder consent to increase the number of its authorized shares if, at any date, the Shares Available for Issuance fall below the greater of (i) 6,000,000 million shares (as adjusted for any stock split, reverse stock split, stock
dividend, reclassification, recapitalization, split-up, combination, exchange of shares or similar transaction) and (ii) three times the number of shares that the Company would need to issue to raise sufficient proceeds to pay (assuming a price
per share equal to the average trading price of the shares over the 10 Trading Day period preceding such date) (x) then outstanding deferred interest on the JSNs plus (y) twelve additional months of deferred interest on the JSNs.

 (b) Amendment to Shares Available for Issuance Provisions. The Company may modify the definition of Shares Available for Issuance
and the related provisions hereof without the consent of holders of the Trust Preferred Securities or JSNs, provided that (i) the Company has determined, in its reasonable discretion, that such modification is not materially adverse to
such holders, (ii) the rating agencies then rating the Trust Preferred Securities confirm the then current ratings of the Trust Preferred Securities, and (iii) the number of Shares Available for Issuance after giving effect to such
modification will not fall below the then applicable threshold set forth in Section 2.11(a) above. 
 Section 2.12. Limitation
on Claims in the Event of Bankruptcy, Insolvency or Receivership. Each Holder, by such Holder’s acceptance of the JSNs, agrees that if a bankruptcy, insolvency or receivership of the Company shall occur prior to the redemption or repayment
of such JSNs, such Holder shall have no claim for, and thus no right to receive, any deferred interest pursuant to Section 2.05 that has not been paid pursuant to Sections 2.05 and 2.07 to the extent such interest relates to the earliest two
years of the portion of the Deferral Period for which interest has not been paid on such Holder’s JSNs. 
  

 24 

 Section 2.13. Amendment. For the purposes of the JSNs (but not for the purposes of any other
Securities unless specifically set forth in the terms of such Securities), Section 9.01 of the Indenture is hereby amended to add the following: 
  

	 	(k)	to add to or change any terms of the Indenture or the JSNs to conform the terms of this Indenture or the JSNs to the description of the JSNs in the Prospectus (as defined in the
Declaration of Trust). 

 ARTICLE 3 
 REPAYMENT OF JSNs 
 Section 3.01. Repayments. The Company shall,
not more than 15 nor less than 10 Business Days prior to each Repayment Date (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of the principal amount of JSNs to be repaid on such date pursuant to Section 2.02.

 Section 3.02. Selection of the JSNs to be Repaid. If less than all the JSNs are to be repaid on any Repayment Date (unless the
JSNs are issued in the form of a Global Security or held by the Property Trustee), the particular JSNs to be repaid shall be selected not more than 60 days prior to such Repayment Date by the Trustee, from the Outstanding JSNs not previously repaid
or called for redemption, by lot or such other method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of a portion of the principal amount of any JSNs, provided that the portion of the
principal amount of any JSNs not repaid shall be in an authorized denomination (which shall not be less than the minimum authorized denomination). 
 The Trustee shall promptly notify the Company in writing of the JSNs selected for partial repayment and the principal amount thereof to be repaid. For all purposes hereof, unless the context otherwise requires, all provisions relating to
the repayment of JSNs shall relate, in the case of any JSNs repaid or to be repaid only in part, to the portion of the principal amount of such JSNs which has been or is to be repaid. JSNs registered in the name of the Company, any Affiliate or any
Subsidiary thereof shall not be included in the JSNs selected for repayment except to the extent no other JSNs remain or would remain outstanding. 
 Section 3.03. Notice of Repayment. Notice of repayment shall be given by first-class mail, postage prepaid, mailed not later than the 15th day, and not earlier than the 10th Business Day, prior to the Repayment Date, to each
Holder of JSNs to be repaid, at the address of such Holder as it appears in the Security Register. 
  

 25 

 Each notice of repayment shall identify the JSNs to be repaid (including CUSIP number, if a CUSIP number
has been assigned to the JSNs) and shall state: 
 (a) the Repayment Date; 
 (b) if less than all Outstanding JSNs are to be repaid, the identification (and, in the case of partial repayment, the respective principal amounts) of
the particular JSNs to be repaid; 
 (c) that on the Repayment Date, the principal amount of the JSNs to be repaid will become due and
payable upon each such JSN or portion thereof, and that interest thereon, if any, shall cease to accrue on and after said date; and 
 (d) the
place or places where such JSNs are to be surrendered for payment of the principal amount thereof. 
 Notice of repayment shall be given by
the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company and shall be irrevocable. The notice if mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether
or not the Holder receives such notice. In any case, a failure to give such notice by mail or any defect in the notice to the Holder of any JSN designated for repayment as a whole or in part shall not affect the validity of the proceedings for the
repayment of any other JSN. 
 Section 3.04. Deposit of Repayment Amount. Prior to 10:00 a.m. New York City time on the Repayment
Date specified in the notice of repayment given as provided in Section 3.03, the Company will deposit with the Trustee or with one or more Paying Agents (or if the Company is acting as its own Paying Agent, the Company will segregate and hold
in trust as provided in Section 10.03 of the Indenture) an amount of money sufficient to pay the principal amount of, and any accrued interest on, all the JSNs which are to be repaid on that date. 
 Section 3.05. Repayment of JSNs. If any notice of repayment has been given as provided in Section 3.03, the JSNs or portion of the JSNs
with respect to which such notice has been given shall become due and payable on the date and at the place or places stated in such notice. On presentation and surrender of such JSNs at a Place of Payment in said notice specified, the said
securities or the specified portions thereof shall be paid by the Company at their principal amount, together with accrued interest to the Repayment Date; provided that, except in the case of a repayment in full of all Outstanding JSNs,
installments of interest whose Stated Maturity is on or prior to the Repayment Date will be payable to the Holders of such JSNs, or one or more Predecessor Securities, registered as such at the close of business on the relevant Regular Record Dates
according to their terms and the provisions of Section 3.07 of the Indenture. 
  

 26 

 Upon presentation of any JSN repaid in part only, the Company shall execute and the Trustee shall
authenticate and make available for delivery to the Holder thereof, at the expense of the Company, a new JSN or JSNs, of authorized denominations, in aggregate principal amount equal to the portion of the JSNs not repaid and so presented and having
the same Scheduled Redemption Date and other terms. If a Global Security is so surrendered, such new JSN will also be a new Global Security. 
 If any JSN required to be repaid shall not be so repaid upon surrender thereof, the principal of such JSN shall, until paid, bear interest from the applicable Repayment Date at the rate prescribed therefore in the JSN. 
 ARTICLE 4 
 EXPENSES 

Section 4.01. Expenses. In connection with the offering, sale and issuance of the JSNs to the Trust on behalf of the Trust and in
connection with the sale of the Trust Securities by the Trust, the Company, in its capacity as borrower with respect to the JSNs, shall: 
 (a) pay all costs and expenses relating to the offering, sale and issuance of the JSNs, including commissions to the underwriters payable pursuant to the Underwriting Agreement and compensation and indemnification of the Trustee under this
First Supplemental Indenture in accordance with the provisions of this First Supplemental Indenture; and 
 (b) be responsible for and shall
pay all debts and obligations (except for any amounts owed to holders of the JSNs in their respective capacities as holders) and all costs and expenses of the Trust (including, but not limited to, costs and expenses relating to the organization,
maintenance and dissolution of the Trust), the offering, sale and issuance of the Trust Securities (including commissions to the underwriters in connection therewith), the indemnities, fees and expenses (including reasonable counsel fees and
expenses) of the Property Trustee, the Delaware Trustee, the Administrative Trustees, the Securities Registrar and the Paying Agent, the costs and expenses relating to the operation of the Trust, including, without limitation, costs and expenses of
accountants, attorneys, statistical or bookkeeping services, expenses for printing and engraving and computing or accounting equipment, paying agent(s), registrar(s), transfer agent(s), duplicating, travel and telephone and other telecommunications
expenses and costs and expenses incurred in connection with the acquisition, financing, and disposition of Trust assets and the enforcement by the Property Trustee of the rights of the Holders of the JSNs. 
 The Company’s obligations under this Section 4.01 shall be for the benefit of, and shall be enforceable by, any Person to whom such debts,
obligations and costs are owed (a “Creditor”) whether or not such Creditor has received notice 

  

 27 

 
hereof. Any such Creditor may enforce the Company’s obligations under this Section 4.01 directly against the Company and the Company irrevocably
waives any right or remedy to require that any such Creditor take any action against the Trust or any other Person before proceeding against the Company. The Company agrees to execute such additional agreements as may be necessary or desirable in
order to give full effect to the provisions of this Section 4.01. 
 ARTICLE 5 
 FORM OF JSN 
 Section 5.01. Form of JSNs. The
JSNs are to be substantially in the following form and shall bear any legend required by Section 2.02 of the Indenture: 
 THIS NOTE IS
NOT A DEPOSIT OR OTHER OBLIGATION OF A DEPOSITORY INSTITUTION AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY. 
  

			
	No.             	  	Principal Amount: $450,010,000
	Issue Date: February 13, 2008	  	

 THE PNC FINANCIAL SERVICES GROUP, INC. 
 7 3/4% JUNIOR SUBORDINATED NOTES DUE MARCH 15 2068 
 THE PNC FINANCIAL SERVICES GROUP, INC., a corporation
organized and existing under the laws of Pennsylvania (hereinafter called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to
Cede & Co., or registered assigns, the principal sum of FOUR HUNDRED AND FIFTY MILLION AND TEN THOUSAND DOLLARS ($450,010,000) and all accrued and unpaid interest thereof on March 15, 2068, or if such day is not a Business Day, the
following Business Day (the “Final Maturity Date”) provided that the principal amount of, and all accrued and unpaid interest on, this Security shall be payable in full on March 15, 2038 (the “Scheduled
Redemption Date”) or any subsequent Interest Payment Date to the extent, and subject to the conditions, set forth in the First Supplemental Indenture; provided further that, if any date fixed for redemption or repayment is not a
Business Day, redemption or repayment of the principal amount will be made on the next day that is a Business Day, without any interest or other payment as a result of such delay. 
 The Company further promises to pay interest on said principal sum from and including February 13, 2008, or from and including the most recent
Interest Payment Date on which interest has been paid or duly provided for, (subject to deferral as set forth herein) in arrears on March 15, June 15, September 15 and 

  

 28 

 
December 15 of each year, commencing June 15, 2008, at the rate of 73/4% per annum (computed on the basis of a 360 day year comprised
of twelve 30 day months) plus Additional Interest, if any, until the principal hereof is paid or duly provided for or made available for payment. Accrued interest that is not paid on the applicable Interest Payment Date, including interest deferred
pursuant to Section 2.05 of the First Supplemental Indenture, will bear Additional Interest, to the extent permitted by law, at the interest rate in effect from time to time, from the relevant Interest Payment Date, compounded on each
subsequent Interest Payment Date. In the event that any date on which interest is payable on this Security is not a Business Day, then a payment of the interest payable on such date will be made on the following day that is a Business Day with the
same force and effect as if made on the date the payment was originally payable. “Business Day” shall have the meaning given to such term in the Indenture. The interest installment so payable, and punctually paid or duly provided
for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest
installment, which shall be the date that is the last day of the month immediately preceding the month in which such Interest Payment Date falls (whether or not a Business Day). Any such interest installment not so punctually paid or duly provided
for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record
Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful
manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
 So long as no Event of Default has occurred and is continuing, the Company shall have the right at any time or from time to time during the term of this
Security to defer payment of interest on this Security for one or more consecutive interest payment periods (each a “Deferral Period”) that do not exceed 10 years, during which Deferral Periods the Company shall have the right to
make partial payments of interest on any Interest Payment Date, and at the end of which the Company shall pay all interest then accrued and unpaid (together with Additional Interest thereon to the extent permitted by applicable law);
provided, however, that no Deferral Period shall extend beyond the Final Maturity Date or the earlier repayment or redemption in full of the Securities. Upon the termination of any Deferral Period and upon the payment of all deferred
interest then due, the Company may elect to begin a new Deferral Period, subject to the above requirements. Deferred interest on the Security will bear interest at the then applicable interest rate, compounded on each Interest Payment Date, subject
to applicable law. No interest shall be due and payable during an Deferral Period except at the end thereof. Additional limitations may apply, pursuant to Section 2.06 of the First Supplemental Indenture, if any Deferral Period lasts longer
than one year. 
  

 29 

 So long as any Securities remain outstanding, if the Company has given notice of its election to defer
interest payments on the Securities but the related Deferral Period has not yet commenced or a Deferral Period is continuing, the Company shall not, and shall not permit any Subsidiary of the Company to, (i) declare or pay any dividends or
distributions, or redeem, purchase, acquire or make a liquidation payment with respect to any shares of the Company’s capital stock, (ii) make any payment of principal of or interest or premium, if any, on or repay, purchase or redeem any
debt securities or guarantees of the Company that rank upon the Company’s liquidation on a parity with this Security (including this Security, the “Parity Securities”), or junior in interest to this Security or (iii) make
any payments under any guarantee by the Company that ranks pari passu with or junior to the Guarantee Agreement; provided, however, the restrictions in clauses (i), (ii) and (iii) above do not apply to: (1) any purchase,
redemption or other acquisition of shares of the Company’s capital stock in connection with (A) any employment contract, benefit plan or other similar arrangement with or for the benefit of any one or more of its employees, officers,
directors, consultants or independent contractors, (B) the satisfaction of the Company’s obligations pursuant to any contract entered into in the ordinary course prior to the beginning of the applicable Deferral Period, (C) a dividend
reinvestment or shareholder purchase plan, or (D) the issuance of the Company’s capital stock, or securities convertible into or exercisable for such capital stock, as consideration in an acquisition transaction entered into prior to the
applicable Deferral Period; (2) any exchange, redemption or conversion of any class or series of the Company’s capital stock, or the capital stock of one of its Subsidiaries, for any other class or series of the Company’s capital
stock, or of any class or series of the Company’s indebtedness for any class or series of its capital stock; (3) any purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange
provisions of such capital stock or the securities being converted or exchanged; (4) any declaration of a dividend in connection with any shareholder rights plan, or the issuance of rights, stock or other property under any shareholder rights
plan, or the redemption or purchase of rights pursuant thereto; (5) payments by the Company under any guarantee agreement executed for the benefit of the holders of the Trust Preferred Securities; (6) any dividend in the form of stock,
warrants, options or other rights where the dividend stock or stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks equally with or junior to such stock);
(7) any payment of current or deferred interest on Parity Securities that is made pro rata to the amounts due on such Parity Securities (including the Securties) and any payments of deferred interest on Parity Securities that, if not
made, would cause the Company to breach the terms of the instrument governing such Parity Securities, provided that such payments are made in accordance with Section 2.07(c) of the First Supplemental Indenture to the extent it applies;
or (8) any payment of principal on Parity Securities necessary to avoid a breach of the 

  

 30 

 
instrument governing such Parity Securities). In addition, if any Deferral Period lasts longer than one year, the restrictions on the Company’s ability
to redeem or repurchase certain of its securities will continue until the first anniversary of the date on which all deferred interest on this Security has been paid. 
 The Company shall give written notice of its election to begin or extend any Deferral Period, (x) if the Property Trustee, on behalf of the Trust, is the sole holder of the Securities, to the Property Trustee and
the Delaware Trustee at least five Business Days before the earlier of (A) the next succeeding date on which the distributions on the Trust Preferred Securities are payable and (B) the date the Property Trustee is required to give notice
to holders of the Trust Preferred Securities of the record or payment date for the related distribution, or (y) if the Property Trustee, on behalf of the Trust, is not the sole Holder of the Securities, to Holders of the Securities and the
Trustee at least five Business Days before the next Interest Payment Date. Notice of the Company’s election of an Deferral Period shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not less than three Business
Days after the Property Trustee receives written notice from the Company to each holder of Trust Securities at such holder’s address appearing in the Security Register. 
 Payment of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Company maintained for that
purpose in the United States, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company payment of
interest may be made (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Securities Register or (ii) by wire transfer in immediately available funds at the bank account number as may be
designated by the Person entitled thereto as specified in the Securities Register in writing not less than ten days before the relevant Interest Payment Date. 
 The indebtedness evidenced by this Security is, to the extent provided in the Indenture, subordinate and junior in right of payment to the prior payment in full of all Senior Indebtedness, and this Security is issued
subject to the provisions of the Indenture with respect thereto. Each Holder of this Security, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on his behalf to take such
actions as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustee his attorney-in-fact for any and all such purposes. Each Holder hereof, by his acceptance hereof, waives all notice of the
acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have
the same effect as if set forth at this place. 
  

 31 

 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the
reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 
  

			
	 THE PNC FINANCIAL SERVICES GROUP, INC.

		
	 By:
	 	  

 Attest: 
 SECRETARY OR ASSISTANT SECRETARY 
 CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities referred to in the within-mentioned Indenture. 
 Dated: 
  

			
	 THE BANK OF NEW YORK,
     not in its individual capacity but solely
     as Trustee

		
	By:	 	  

		 	Authorized Officer

 (FORM OF REVERSE OF JSN) 
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued
in one or more series under the Amended and Restated Junior Subordinated Indenture, dated as of February 13, 2008 (herein called the “Base Indenture”), between the Company and The Bank of New York, as trustee (the
“Trustee”), as amended and supplemented by the First Supplemental Indenture, dated as of February 13, 2008, between the Company and the Trustee (the “First Supplemental Indenture”, and together with the Base
Indenture, the “Indenture” ), to which Indenture and all other indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the
Trustee, the Company and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. By the terms of the Indenture, the Securities are issuable in series that may vary as to amount, date
of maturity, rate of interest, rank and in any other respect provided in the Indenture. 
  

 32 

 All terms used in this Security that are defined in the Indenture or in the Second Amended and Restated
Declaration of Trust, dated as of February 13, 2008, as amended (the “Declaration of Trust”), for PNC Capital Trust E among The PNC Financial Services Group, Inc., as Sponsor, The Bank of New York, as the Property Trustee, BNYM
(Delaware), as the Delaware Trustee, and the Regular Trustee, shall have the meanings assigned to them in the Indenture or the Declaration of Trust, as the case may be. 
 This Security shall be redeemable at the option of the Company in accordance with the terms of the Indenture. 
 No sinking fund is provided for the Securities. 
 The Indenture permits, with certain exceptions as therein provided, the Company
and the Trustee at any time to enter into a supplemental indenture or indentures for the purpose of modifying in any manner the rights and obligations of the Company and of the Holders of the Securities, with the consent of the Holders of not less
than a majority in principal amount of the Outstanding Securities to be affected by such supplemental indenture. The Indenture also contains provisions permitting Holders of specified percentages in principal amount of the Securities at the time
Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of
this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of
such consent or waiver is made upon this Security. 
 As provided in and subject to the provisions of the Indenture, if an Event of Default
with respect to the Securities at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities may declare the entire principal amount
and all accrued but unpaid interest of all the Securities to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), provided that, in the case of the Securities issued to and held by
PNC Capital Trust E, or any trustee thereof or agent therefor, if upon an Event of Default, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities fails to declare the entire principal and all accrued but
unpaid interest of all the Securities to be immediately due and payable, the holders of at least 25% in aggregate Liquidation Amount of the Trust Preferred Securities then outstanding shall have such right by a notice in writing to the Company and
the Trustee; and upon any such declaration the principal amount of and the accrued but unpaid interest (including any Additional Interest); 

  

 33 

 
and on all the Securities shall become immediately due and payable, provided that the payment of principal and interest (including any Additional
Interest) on such Securities shall remain subordinated to the extent provided in Article 13 of the Indenture. 
 No reference herein to the
Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Security at the times, place
and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registrable in the Securities Register, upon surrender of this Security for registration of transfer at the office or agency of the Company maintained under Section 10.02 of the Indenture duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Securities Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities, of
authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment
of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee shall treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 The Securities are issuable
only in registered form without coupons in minimum denominations of $1,000 and any integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities are exchangeable for a
like aggregate principal amount of Securities of a different authorized denomination, as requested by the Holder surrendering the same. 
 The Company and, by its acceptance of this Security or a beneficial interest therein, the Holder of, and any Person that acquires a beneficial interest in, this Security agree to treat for United States Federal income tax purposes
(i) the Securities as indebtedness of the Company, and (ii) the stated interest on the Securities as ordinary interest income that is includible in the Holder’s or beneficial owner’s gross income at the time the interest is paid
or accrued in accordance with the Holder’s or beneficial owner’s regular method of tax accounting, and otherwise to treat the Securities as described in the Prospectus. 
  

 34 

 The Indenture and this Security shall be governed by and construed in accordance with the laws of the
State of New York. 
 This is one of the Securities referred to in the within mentioned Indenture. 
 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and
transfers this Security to: 
  
  

	
	  

	  

	  

	
	(Insert assignee’s social security or tax identification number)

  

	
	  

	  

	  

	
	(Insert address and zip code of assignee)

 agent to transfer this Security on the books of the Securities Registrar. The agent may substitute another to act
for him or her. 
  

			
	Dated:	  	Signature:

  

	
	Signature Guarantee:

 (Sign exactly as your name appears on the other side of this Security) 
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Securities Registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Securities Registrar in addition to, or in substitution
for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
 ARTICLE 6 
 ORIGINAL ISSUE OF JSNs 
 Section 6.01. Original Issue of JSNs. JSNs in the aggregate principal amount of $450,010,000 may, upon execution of this First Supplemental Indenture, be executed by the Company and delivered to the
Trustee or an Authenticating Agent for authentication, and the Trustee or an Authenticating Agent shall thereupon authenticate and deliver said JSNs in accordance with a Company Order. 
  

 35 

 Section 6.02. Calculation of Original Issue Discount. If during any calendar year any
original issue discount shall have accrued on the JSNs, the Company shall file with each Paying Agent (including the Trustee if it is a Paying Agent) promptly at the end of each calendar year (i) a written notice specifying the amount of
original issue discount (including daily rates and accrual periods) accrued on Outstanding Securities as of the end of such year and (ii) such other specific information relating to such original issue discount as may then be relevant under the
Internal Revenue Code of 1986, as amended from time to time. Neither the Company nor the Trust would make actual payments on the JSNs, or on the Trust Preferred Securities, as the case may be, during an Deferral Period. 
 ARTICLE 7 
 SUBORDINATION

 Section 7.01. Senior Indebtedness. The subordination provisions of Article 13 of the Indenture shall apply. 
 (a) Notwithstanding the foregoing or any other provision of the Indenture or of this First Supplemental Indenture, provided that the Company is not
subject to a bankruptcy, insolvency, liquidation or similar proceeding, the priority of the JSNs in right of payment as to Parity Securities is subject to the provisions of Section 2.06 hereof and the Company shall be permitted to pay interest
or principal on Parity Securities in accordance with Section 2.06 hereof. 
 Section 7.02. Compliance with Federal Reserve
Rules. The Company shall not incur any additional indebtedness for borrowed money that ranks pari passu with or junior to the JSNs (if then subject to Article 13 of the Indenture), except in compliance with applicable regulations and guidelines
of the Federal Reserve. 
 ARTICLE 8 
 MISCELLANEOUS 
 Section 8.01. Effectiveness. This First Supplemental Indenture will become effective
upon its execution and delivery. 
 Section 8.02. Successors and Assigns. .All covenants and agreements in the Indenture, as
supplemented and amended by this First Supplemental Indenture, by the Company shall bind its successors and assigns, receivers, trustees and representatives, whether so expressed or not, and shall inure to the benefit of the Holders of the
Securities then Outstanding. 
  

 36 

 Section 8.03. Further Assurances. The Company will, at its own cost and expense, execute and
deliver any documents or agreements, and take any other actions that the Trustee or its counsel may from time to time request in order to assure the Trustee of the benefits of the rights granted to the Trustee under the Indenture, as supplemented
and amended by this First Supplemental Indenture. 
 Section 8.04. Effect of Recitals. The recitals contained herein and in the
JSNs, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this First Supplemental Indenture or of the JSNs. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of the JSNs or the proceeds
thereof. 
 Section 8.05. Ratification of Indenture. The Indenture as supplemented by this First Supplemental Indenture, is in
all respects ratified and confirmed, and this First Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. 
 Section 8.06. Governing Law. This First Supplemental Indenture and the JSNs shall be governed by and construed in accordance with the laws
of the State of New York and all rights and remedies shall be governed by such law without regard to principles of conflict of laws. 
 *
* * * 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all
such counterparts shall together constitute but one and the same instrument. 
  

 37 

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

			
	THE PNC FINANCIAL SERVICES GROUP, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	THE BANK OF NEW YORK, as Trustee
		
	By:	 	  

	Name:	 	
	Title:

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