Document:

EX-4.3

 Exhibit 4.3 

MEDTRONIC GLOBAL HOLDINGS S.C.A. 

as Issuer 
 and

 MEDTRONIC PUBLIC LIMITED COMPANY 

and 
 MEDTRONIC, INC.

 as Guarantors 

TO 

                       
                         , 

as Trustee 

SUBORDINATED INDENTURE 

Dated as of
                                         
        
  
  

 TABLE OF CONTENTS* 

 

					
	 	  	Page	 
	ARTICLE 1	  			
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  			
		
	 Section 1.01 Definitions
	  	 	1	  
		
	 Section 1.02 Compliance Certificates and Opinions
	  	 	10	  
		
	 Section 1.03 Form of Documents Delivered to Trustee
	  	 	10	  
		
	 Section 1.04 Acts of Holders; Record Dates
	  	 	11	  
		
	 Section 1.05 Notices, Etc., to Trustee, Company or Guarantors
	  	 	13	  
		
	 Section 1.06 Notice to Holders; Waiver
	  	 	13	  
		
	 Section 1.07 Conflict with Trust Indenture Act
	  	 	14	  
		
	 Section 1.08 Effect of Headings and Table of Contents
	  	 	14	  
		
	 Section 1.09 Successors and Assigns
	  	 	14	  
		
	 Section 1.10 Separability Clause
	  	 	14	  
		
	 Section 1.11 Benefits of Indenture
	  	 	14	  
		
	 Section 1.12 Governing Law; Waiver of Jury Trial; Consent to Jurisdiction; Service of
Process
	  	 	15	  
		
	 Section 1.13 Legal Holidays
	  	 	15	  
		
	 Section 1.14 USA Patriot Act
	  	 	15	  
		
	 Section 1.15 Judgment Currency
	  	 	16	  
		
	 Section 1.16 Force Majeure
	  	 	16	  
	  
 ARTICLE 2
	  			
	SECURITY FORMS	  			
		
	 Section 2.01 Forms Generally
	  	 	16	  
		
	 Section 2.02 Form of Face of Security
	  	 	17	  
		
	 Section 2.03 Form of Reverse of Security
	  	 	18	  
		
	 Section 2.04 Form of Legend for Securities
	  	 	21	  
		
	 Section 2.05 Form of Trustee’s Certificate of Authentication
	  	 	21	  
		
	 Section 2.06 CUSIP Numbers
	  	 	22	  
		
	 Section 2.07 Form of Guarantee
	  	 	22	  
	  
 ARTICLE 3
	  			
	THE SECURITIES	  			
		
	 Section 3.01 Amount Unlimited; Issuable in Series
	  	 	23	  

					
		
	 Section 3.02 Denominations
	  	 	26	  
		
	 Section 3.03 Execution, Authentication, Delivery and Dating
	  	 	26	  
		
	 Section 3.04 Temporary Securities
	  	 	27	  
		
	 Section 3.05 Registration, Registration of Transfer and Exchange; Certain Transfers and
Exchanges
	  	 	28	  
		
	 Section 3.06 Mutilated, Destroyed, Lost and Wrongfully Taken Securities
	  	 	30	  
		
	 Section 3.07 Payment of Interest; Interest Rights Preserved
	  	 	31	  
		
	 Section 3.08 Persons Deemed Owners
	  	 	32	  
		
	 Section 3.09 Cancellation
	  	 	32	  
		
	 Section 3.10 Computation of Interest
	  	 	32	  
	  
 ARTICLE 4
	  			
	SATISFACTION AND DISCHARGE	  			
		
	 Section 4.01 Satisfaction and Discharge of Indenture
	  	 	32	  
		
	 Section 4.02 Application of Trust Money
	  	 	33	  
	  
 ARTICLE 5
	  			
	REMEDIES	  			
		
	 Section 5.01 Events of Default
	  	 	34	  
		
	 Section 5.02 Acceleration of Maturity; Rescission and Annulment
	  	 	35	  
		
	 Section 5.03 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	36	  
		
	 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
	  	 	37	  
		
	 Section 5.08 Unconditional Right of Holders To Receive Principal, Premium and
Interest
	  	 	38	  
		
	 Section 5.09 Restoration of Rights and Remedies
	  	 	38	  
		
	 Section 5.10 Rights and Remedies Cumulative
	  	 	38	  
		
	 Section 5.11 Delay or Omission Not Waiver
	  	 	39	  
		
	 Section 5.12 Control by Holders
	  	 	39	  
		
	 Section 5.13 Waiver of Past Defaults
	  	 	39	  
		
	 Section 5.14 Undertaking for Costs
	  	 	39	  
		
	 Section 5.15 Waiver of Usury, Stay or Extension Laws
	  	 	40	  

  
 ii 

					
	ARTICLE 6	  			
	THE TRUSTEE	  			
		
	 Section 6.01 Certain Duties and Responsibilities
	  	 	40	  
		
	 Section 6.02 Notice of Defaults
	  	 	41	  
		
	 Section 6.03 Certain Rights of Trustee
	  	 	41	  
		
	 Section 6.04 Not Responsible for Recitals or Issuance of Securities
	  	 	42	  
		
	 Section 6.05 May Hold Securities
	  	 	42	  
		
	 Section 6.06 Money Held in Trust
	  	 	43	  
		
	 Section 6.07 Compensation and Reimbursement
	  	 	43	  
		
	 Section 6.08 Conflicting Interests
	  	 	43	  
		
	 Section 6.09 Corporate Trustee Required; Eligibility
	  	 	44	  
		
	 Section 6.10 Resignation and Removal; Appointment of Successor
	  	 	44	  
		
	 Section 6.11 Acceptance of Appointment by Successor
	  	 	45	  
		
	 Section 6.12 Merger, Conversion, Consolidation or Succession to Business
	  	 	46	  
		
	 Section 6.13 Preferential Collection of Claims Against Company
	  	 	47	  
		
	 Section 6.14 Appointment of Authenticating Agent
	  	 	47	  
	  
 ARTICLE 7
	  			
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE, COMPANY AND GUARANTORS	  			
		
	 Section 7.01 Company To Furnish Trustee Names and Addresses of Holders
	  	 	48	  
		
	 Section 7.02 Preservation of Information; Communications to Holders
	  	 	49	  
		
	 Section 7.03 Reports by Trustee
	  	 	49	  
		
	 Section 7.04 Reports
	  	 	49	  
	  
 ARTICLE 8
	  			
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  			
		
	 Section 8.01 Company May Consolidate, Etc., Only on Certain Terms
	  	 	50	  
		
	 Section 8.02 Successor Substituted
	  	 	51	  
	  
 ARTICLE 9
	  			
	SUPPLEMENTAL INDENTURES	  			
		
	 Section 9.01 Supplemental Indentures Without Consent of Holders
	  	 	51	  
		
	 Section 9.02 Supplemental Indentures with Consent of Holders
	  	 	52	  
		
	 Section 9.03 Execution of Supplemental Indentures
	  	 	53	  
		
	 Section 9.04 Effect of Supplemental Indentures
	  	 	54	  
		
	 Section 9.05 Conformity with Trust Indenture Act
	  	 	54	  
		
	 Section 9.06 Reference in Securities to Supplemental Indentures
	  	 	54	  

  
 iii 

					
	ARTICLE 10	  			
	COVENANTS	  			
		
	 Section 10.01 Payment of Principal, Premium and Interest
	  	 	54	  
		
	 Section 10.02 Maintenance of Office or Agency
	  	 	54	  
		
	 Section 10.03 Money for Securities Payments To Be Held in Trust
	  	 	55	  
		
	 Section 10.04 Statement by Officers as to Default
	  	 	56	  
		
	 Section 10.05 Existence
	  	 	56	  
		
	 Section 10.06 Limitation on Secured Debt
	  	 	56	  
		
	 Section 10.07 Limitation on Sale and Leaseback Transactions
	  	 	58	  
		
	 Section 10.08 Waiver of Certain Covenants
	  	 	59	  
	  
 ARTICLE 11
	  			
	REDEMPTION OF SECURITIES	  			
		
	 Section 11.01 Applicability of Article
	  	 	60	  
		
	 Section 11.02 Election To Redeem; Notice to Trustee
	  	 	60	  
		
	 Section 11.03 Selection by Trustee of Securities To Be Redeemed
	  	 	60	  
		
	 Section 11.04 Notice of Redemption
	  	 	61	  
		
	 Section 11.05 Deposit of Redemption Price
	  	 	61	  
		
	 Section 11.06 Securities Payable on Redemption Date
	  	 	61	  
		
	 Section 11.07 Securities Redeemed in Part
	  	 	62	  
	  
 ARTICLE 12
	  			
	SINKING FUNDS	  			
		
	 Section 12.01 Applicability of Article
	  	 	62	  
		
	 Section 12.02 Satisfaction of Sinking Fund Payments with Securities
	  	 	62	  
		
	 Section 12.03 Redemption of Securities for Sinking Fund
	  	 	63	  
	  
 ARTICLE 13
	  			
	DEFEASANCE AND COVENANT DEFEASANCE	  			
		
	 Section 13.01 Company’s Option To Effect Defeasance or Covenant Defeasance
	  	 	63	  
		
	 Section 13.02 Defeasance and Discharge
	  	 	63	  
		
	 Section 13.03 Covenant Defeasance
	  	 	64	  
		
	 Section 13.04 Conditions to Defeasance or Covenant Defeasance
	  	 	64	  
		
	 Section 13.05 Deposited Money and U.S. Government Obligations and Foreign Government
Obligations To Be Held in Trust; Miscellaneous Provisions
	  	 	66	  
		
	 Section 13.06 Reinstatement
	  	 	67	  

  
 iv 

					
	ARTICLE 14	  			
	GUARANTEES	  			
		
	 Section 14.01 Note Guarantee
	  	 	67	  
		
	 Section 14.02 Limitation on Guarantor Liability
	  	 	69	  
		
	 Section 14.03 Execution and Delivery
	  	 	69	  
		
	 Section 14.04 Subrogation
	  	 	70	  
		
	 Section 14.05 Benefits Acknowledged
	  	 	70	  
		
	 Section 14.06 Release of Note Guarantees
	  	 	70	  
		
	 Section 14.07 Guarantors May Consolidate, Etc., Only on Certain Terms; Successor
Substituted
	  	 	71	  
		
	 Section 14.08 Subordination of Note Guarantee
	  	 	72	  
	  
 ARTICLE 15
	  			
	SUBORDINATION OF SECURITIES	  			
		
	 Section 15.01 Agreement of Subordination
	  	 	72	  
		
	 Section 15.02 Payments to Holders
	  	 	72	  
		
	 Section 15.03 Subrogation of Securities
	  	 	74	  
		
	 Section 15.04 Authorization by Holder
	  	 	75	  
		
	 Section 15.05 Notice to Trustee
	  	 	75	  
		
	 Section 15.06 Trustee’s Relation to Senior Debt
	  	 	75	  
		
	 Section 15.07 No Impairment of Subordination
	  	 	76	  
		
	 Section 15.08 Rights of Trustee
	  	 	76	  
	  
 ARTICLE 16
	  			
	ADDITIONAL AMOUNTS; CERTAIN TAX PROVISIONS	  			
		
	 Section 16.01 Redemption Upon Changes in Withholding Taxes
	  	 	76	  
		
	 Section 16.02 Payment of Additional Amounts
	  	 	77	  

  
 v 

 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)	  	6.09
	(a)(2)	  	6.09
	(a)(3)	  	Not Applicable Not Applicable
	(a)(4)	  	6.08
	(b)	  	
		  	6.10
		  	
	§ 311(a)	  	6.13
	(b)	  	6.13
	§ 312(a)	  	7.01
		  	7.02
	(b)	  	7.02
	(c)	  	7.02
	§ 313(a)	  	7.03
	(b)	  	7.03
	(c)	  	7.03
	(d)	  	7.03
	§ 314(a)	  	7.04
	(a)(4)	  	1.01
		  	10.04
	(b)	  	Not Applicable
	(c)(1)	  	1.02
	(c)(2)	  	1.02
	(c)(3)	  	Not Applicable
	(d)	  	Not Applicable
	(e)	  	1.02
	§ 315(a)	  	6.01
	(b)	  	6.02
	(c)	  	6.01
	(d)	  	6.01
	(e)	  	5.14
	§ 316(a)	  	1.01
	(a)(1)(A)	  	5.02
		  	5.12
	(a)(1)(B)	  	5.13
	(a)(2)	  	Not Applicable
	(b)	  	5.08
		  	
	(c)	  	1.04
	§ 317(a)(1)	  	5.03
	(a)(2)	  	5.04
	(b)	  	10.03
	§ 318(a)	  	1.07

  
 Note: This
cross-reference table shall not, for any purpose, be deemed part of the Indenture. 

  
 vi 

 INDENTURE, dated as of
                    , among MEDTRONIC GLOBAL HOLDINGS S.C.A., a corporate partnership limited by shares (société en
commandite par actions) organized under the laws of the Grand Duchy of Luxembourg (the “Company”), MEDTRONIC PUBLIC LIMITED COMPANY, a public limited company incorporated under the laws of Ireland (“Parent”),
MEDTRONIC, INC., a Minnesota corporation (“Medtronic, Inc.”), and                     , as Trustee (herein called the
“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 debentures,
notes or other evidences of subordinated indebtedness (herein called the “Securities”), to be issued in one or more series as provided in this Indenture. 

Parent and Medtronic, Inc. have duly authorized the execution and delivery of this Indenture to guarantee the Securities. 

All things necessary to make this Indenture a valid agreement of the Company, Parent and Medtronic, Inc. in accordance with its terms,
have been done. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

In consideration of the promises and the purchase of the Securities by the Holders thereof, each party agrees as follows for the benefit of
each other and for the equal and proportionate benefit of all Holders of the Securities or of any series thereof: 
 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 which 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, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or
permitted hereunder shall mean such accounting principles as are generally accepted in the United States of America at the date of such computation; 

(d) unless the context otherwise requires, any reference to an “Article” or a “Section” refers to an Article
or a Section, as the case may be, of this Indenture; and 

  
 1 

 (e) 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. 

“Act” when used with respect to any Holder, has the meaning specified in Section 1.04. 

“Additional Amounts” has the meaning specified in Section 16.02. 

“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. 

“Attributable Debt” in respect of any lease means, at the time of determination, the present value (discounted at the rate of
interest implicit in the terms of the lease) of the obligation of the lessee for net rental payments during the remaining term of the lease (including any period for which such lease has been extended or may, at the option of the lessor, be
extended). “Net rental payments” under any lease for any period means the sum of the rental and other payments required to be paid in such period by the lessee thereunder, not including, however, any amounts required to be paid by
such lessee (whether or not designated as rental or additional rental payments) on account of maintenance and repairs, insurance, taxes, assessments or similar charges required to be paid by such lessee thereunder or any amounts required to be paid
by such lessee thereunder contingent upon the amount of sales, maintenance and repairs, insurance, taxes, assessments or similar charges. 

“Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 6.14 to act on behalf of the
Trustee to authenticate Securities of one or more series. 
 “Bankruptcy Default” has the meaning specified in
Section 5.01. 
 “Board of Directors” means, with respect to the Company, either the board of directors of the Company
or any duly authorized committee of that board and, with respect to any Guarantor, the board of directors or any duly authorized committee of that board. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company or any
Guarantor to have been duly adopted by the applicable Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“Business Day” when used with respect to any Place of Payment, means any day, other than a Saturday or Sunday, that is
neither a legal holiday nor a day on which banking institutions, in that Place of Payment are authorized or required by law, regulation or executive order to close. 

“Capital Lease” means, with respect to any Person, any lease of any property which, in conformity with generally accepted
accounting principles, is required to be capitalized on the balance sheet of such Person. 

  
 2 

 “Capital Stock” means, with respect to any Person, any and all shares of stock
of a corporation, partnership interests or other equivalent interests (however designated, whether voting or non-voting) in such Person’s equity, entitling the holder to receive a share of the profits and
losses, and a distribution of assets, after liabilities, of such Person. 
 “CIFSA” means Covidien International Finance
S.A., a Luxembourg company and an indirect, wholly-owned subsidiary of Parent. 
 “Code” means the United States Internal
Revenue Code of 1986, as amended. 
 “Commission” means the Securities and Exchange Commission, 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
at such time. 
 “Company” means the Person named as the “Company” in the first paragraph of this
instrument 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,
Parent or Medtronic, Inc., as the case may be, by its Chairman, its President, any Vice President, its Treasurer, its Assistant Treasurer, its General Counsel, its Secretary or its Assistant Secretary, and delivered to the Trustee. 

“Consolidated Net Tangible Assets” means, at the date of determination, the aggregate amount of total assets which would
appear on the consolidated balance sheet of Parent (less applicable reserves and other properly deductible items) after deducting therefrom (a) all current liabilities (excluding any indebtedness for money borrowed having a maturity of less
than 12 months from the date of the then most recent consolidated balance sheet of Parent but which by its terms is renewable or extendible beyond 12 months from such date at the option of the borrower) and (b) all goodwill, trade names,
patents, unamortized debt discount and expense and any other like intangibles, all as set forth on Parent’s then most recent consolidated balance sheet and computed in accordance with generally accepted accounting principles. 

“Corporate Trust Office” means the designated office of the Trustee or the Security Registrar, as the case may be, at which
at any particular time its corporate trust business will be administered, which office for the Trustee as of the date hereof is located at
                    , Attn:                     .

 “Corporation” means a corporation, association, company, joint-stock company or business trust. 

“Covenant Defeasance” has the meaning specified in Section 13.03. 

“Debt” means, with respect to any Person, without duplication: 

(i) all indebtedness of such Person for borrowed money; and 

(ii) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments. 

  
 3 

 The amount of Debt of any Person will be deemed to be: 

(A) with respect to Debt secured by a Lien on an asset of such Person but not otherwise the obligation, contingent or otherwise, of such
Person, the lesser of (1) the fair market value of such asset on the date the Lien attached and (2) the amount of such Debt; 

(B) with respect to any Debt issued with original issue discount, the face amount of such Debt less the remaining unamortized portion of the
original issue discount of such Debt; and 
 (C) otherwise, the outstanding principal amount thereof. 

“Default” has the meaning specified in Section 6.02. 

“Defaulted Interest” has the meaning specified in Section 3.07. 

“Defeasance” has the meaning specified in Section 13.02. 

“Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global
Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 3.01. 

“Event of Default” 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. 
 “Expiration Date” has the meaning specified in Section 1.04. 

“Foreign Government Obligation” has the meaning specified in Section 13.04. 

“Funded Debt” means Debt which by its terms matures at, or is extendible or renewable at the option of the obligor to, a date
more than 12 months after the date of the creation of such Debt. 
 “Global Security” means a Security that evidences all
or part of the Securities of any series and bears the legend set forth in Section 2.04 (or such legend as may be specified as contemplated by Section 3.01 for such Securities). 

“Guarantee” means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Debt or
other obligation of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (i) to purchase or pay (or advance or supply funds for the purchase or
payment of) such Debt or other obligation of such other Person (whether arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise) or (ii) entered into for purposes of assuring in any other manner the obligee of such Debt or other obligation of the payment
thereof or to protect such obligee against loss in respect thereof, in whole or in part; provided that the term “Guarantee” does not include endorsements for collection or deposit in the ordinary course of business. The term
“Guarantee” used as a verb has a corresponding meaning. 

  
 4 

 “Guaranteed Bonds” means (i) Medtronic, Inc.’s outstanding Floating
Rate Notes due 2017, 0.875% Senior Notes due 2017, 1.375% Senior Notes due 2018, 1.500% Senior Notes due 2018, 5.600% Senior Notes due 2019, 4.450% Senior Notes due 2020, 2.500% Senior Notes due 2020, Floating Rate Notes due 2020, 4.125% Senior
Notes due 2021, 3.125% Senior Notes due 2022, 3.150% Senior Notes due 2022, 2.750% Senior Notes due 2023, 3.625% Senior Notes due 2024, 3.500% Senior Notes due 2025, 4.375% Senior Notes due 2035, 6.500% Senior Notes due 2039, 5.550% Senior Notes due
2040, 4.500% Senior Notes due 2042, 4.000% Senior Notes due 2043, 4.625% Senior Notes due 2044, and 4.625% Senior Notes due 2045, (ii) CIFSA’s 6.000% Senior Notes due 2017, 4.200% Senior Notes due 2020, 3.200% Senior Notes due 2022, 2.950%
Senior Notes due 2023 and 6.550% Senior Notes due 2037 and (iii) any notes or debentures that (1) are issued by the Company or Medtronic, Inc. after the date hereof, (2) are guaranteed by Parent, the Company and/or Medtronic, Inc. and
(3) are at the time of issuance or which later become, whether in connection with an exchange of securities or otherwise, registered pursuant to the Securities Act. 

“Guarantor” means each of Parent and Medtronic, Inc. and its respective successors. 

“Holder” means a Person in whose name a Security is registered in the Security Register. 

“Incur” means, with respect to any Debt, to incur, create, issue, assume or Guarantee such Debt. If any Person becomes a
Restricted Subsidiary on any date after the date of the Indenture, the Debt of such Person outstanding on such date will be deemed to have been Incurred by such Person on such date for purposes of Section 10.06. The accretion of original issue
discount or payment of interest in kind will not be considered an Incurrence of Debt. 
 “Indenture” means this instrument
as originally executed and 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, including, for all purposes of this instrument and any
such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms
of a particular series of Securities established as contemplated by Section 3.01. 
 “Interest” when used with respect
to an Original Issue Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 

“Interest Payment Date” means, when used with respect to any Security, the Stated Maturity of an installment of interest on
such Security. 
 “Investment Company Act” means the Investment Company Act of 1940 and any statute successor thereto, in
each case as amended from time to time. 
 “Judgment Currency” has the meaning specified in Section 1.15. 

  
 5 

 “Lien” means any mortgage, pledge, security interest, encumbrance, lien or
charge of any kind (including any conditional sale or other title retention agreement or Capital Lease). 
 “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 and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call
for redemption or otherwise. 
 “Medtronic, Inc.” has the meaning specified in the preamble hereto. 

“Mortgage” means any mortgage, pledge, lien or other encumbrance. 

“Note Guarantee” means the Guarantee of the Securities by the Guarantors and the Company’s obligations thereunder. 

“Notice of Default” means a written notice of the kind specified in Section 5.01(e). 

“Officers’ Certificate” means a certificate signed by the Chairman of the Board of Directors, the President or Chief
Executive Officer or a Vice President, and by the Chief Financial Officer, the Treasurer or any Assistant Treasurer, the Secretary or an Assistant Secretary or Director, of the Company or any Guarantor, as the case may be, and delivered to the
Trustee. 
 “Opinion of Counsel” means a written opinion of counsel, who may be an employee of or counsel for the Company
or any Guarantor, and who shall be acceptable to the Trustee. 
 “Original Issue Discount Security” means any Security
which 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. 

“Outstanding” when used with respect to Securities, means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture (including Securities held by the Company or an Affiliate of the Company), except: 

(1) Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 

(2) Securities for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying
Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) 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; 
 (3)
Securities as to which Defeasance has been effected pursuant to Section 13.02; and 

  
 6 

 (4) Securities which have been paid or in exchange for or in lieu of which other Securities have
been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in
whose hands such Securities are valid obligations of the Company; provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or taken any request, demand,
authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount of the principal thereof
which 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 Security is not determinable, the
principal amount of such Security which 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 which 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 or of 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, waiver or other action, only Securities
which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so owned which 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 or of such other obligor. 

“Parent” has the meaning specified in the preamble hereto. 

“Paying Agent” means any Person authorized by the Company to pay the principal of or any premium or interest on any
Securities on behalf of the Company. 
 “Permitted Debt” has the meaning specified in Section 10.06. 

“Person” means any individual, corporation, partnership, joint venture, trust, unincorporated organization, limited liability
company or government or any agency or political subdivision thereof. 
 “Place of Payment” when used with respect to the
Securities of any series, means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by Section 3.01. 

“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. 

  
 7 

 “Principal Property” means any plant, office facility, warehouse, distribution
center or equipment located within the United States (other than its territories or possessions) and owned by Parent or any Subsidiary, the gross book value (without deduction of any depreciation reserves) of which on the date as of which the
determination is being made exceeds 2% of the Consolidated Net Tangible Assets of Parent, except any such property which Parent’s Board of Directors, in its good faith opinion, determines is not of material importance to the business conducted
by Parent and its Subsidiaries, taken as a whole, as evidenced by a Board Resolution. 
 “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 on the Securities of any series means the date
specified for that purpose as contemplated by Section 3.01. 
 “Required Currency” has the meaning specified in
Section 1.15. 
 “Responsible Officer” when used with respect to the Trustee, means any officer in the Corporate Trust
Office of the Trustee or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to
whom such matter is referred because of his knowledge of and familiarity with the particular subject, in each case who shall have direct responsibility for the administration of this Indenture. 

“Restricted Subsidiary” means (i) each of the Company and Medtronic, Inc. and (ii) any other Subsidiary of Parent
which owns or leases a Principal Property, except any Subsidiary substantially all of the assets of which are located, or substantially all of the business of which is carried on, outside the United States and its territories and possessions. 

“Sale and Leaseback Transaction” means, with respect to any Person, an arrangement whereby such Person enters into a lease of
property previously transferred by such Person to the lessor. 
 “Securities” has the meaning stated in the first recital
of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 
 “Securities
Act” means the Securities Act of 1933 and any statute successor thereto, in each case as amended from time to time. 

“Security Register” and “Security Registrar” have the respective meanings specified in Section 3.05.

  
 8 

 “Stated Maturity” when used with respect to any Security or any installment of
principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Senior Debt” of a Person means the principal of, premium, if any, interest on, and any other payment due pursuant to any of
the following, whether outstanding at the date hereof or hereafter incurred or created: 
 (a) all Debt of that Person; 

(b) all obligations in respect of Capital Leases of that Person; 

(c) all obligations of the kind described in the preceding clause (a) above and all lease obligations of others of the kind described in
the preceding clause (b) above that the Person, in any manner, assumes or guarantees or that the Person in effect guarantees through an agreement to purchase, whether that agreement is contingent or otherwise; and 

(d) all renewals, extensions or refundings of indebtedness of the kinds described in any of the preceding clauses (a) and (c) and all
renewals or extensions of leases of the kinds described in either of the preceding clauses (b) or (c) above; 
 unless, in the case of any
particular indebtedness, lease, renewal, extension or refunding, the instrument or lease creating or evidencing it or the assumption or guarantee relating to it expressly provides that such indebtedness, lease, renewal, extension or refunding is not
superior in right of payment to the Securities. 
 “Subsidiary” means a corporation, partnership or other legal entity of
which, in the case of a corporation, more than 50% of the outstanding voting stock is owned, directly or indirectly, by Parent or by one or more other Subsidiaries, or by Parent and one or more other Subsidiaries or, in the case of any partnership
or other legal entity, more than 50% of the ordinary equity capital interests is, at the time, directly or indirectly owned or controlled by Parent or by one or more of the Subsidiaries or by Parent and one or more other Subsidiaries. For the
purposes of this definition, “voting stock” means stock which 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. 
 “Successor Security” of any particular Security means every Security issued after, and 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. 
 “Taxes” has the
meaning specified in Section 15.02. 
 “Taxing Jurisdiction” has the meaning specified in Section 16.01. 

  
 9 

 “Trust Indenture Act” means the Trust Indenture Act of 1939 (15 U.S.C.
§ 77aaa-77bbbb) as in force at the date as of which this instrument was executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act”
means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended. 
 “Trustee”
means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee”
shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to
Securities of that series. 
 “U.S. Government Obligation” has the meaning specified in Section 13.04. 

“Vice President” when used with respect to the Company, any Guarantor or the Trustee, means any 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 Certificates and Opinions. 
 Upon any application or request by the Company or any Guarantor to the Trustee to take any
action under any provision of this Indenture, the Company or such Guarantor, as applicable, shall furnish to the Trustee an Officers’ Certificate and an Opinion of Counsel. Each such Officers’ Certificate and Opinion of Counsel shall
comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture. 
 Every certificate or
opinion with respect to compliance with a condition or covenant provided for in this Indenture shall (except for certificates provided in Section 10.04) include: 

(a) a statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions herein
relating thereto; 
 (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 Form 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 

  
 10 

 
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 or any Guarantor 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 or applicable Guarantor stating that the information with respect to such factual matters is in the possession of the Company or applicable Guarantor, 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; Record Dates. 

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 agent duly appointed in writing; and, except as herein otherwise expressly provided,
such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is 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. 

The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of
the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 
 The ownership of Securities
shall be proved by the Security Register. 
 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 

  
 11 

 
thereof in respect of anything done, omitted or suffered to be done by the Trustee, the Company or any Guarantor in reliance thereon, whether or not notation of such action is made upon such
Security. 
 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 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 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 Section 5.07(b), 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 canceled 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. 

  
 12 

 With respect to any record date set pursuant to this Section, the party hereto which 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 which 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. 

Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with
regard 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, Company or Guarantors. 

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 or by the Company or any Guarantor 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 Division; 

(b) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided)
if in writing and mailed, first-class postage prepaid, to the Company addressed to it at (i) 3b, boulevard Prince Henry, L-1724 Luxembourg, Attn: Treasury Department or (ii) any other address
previously furnished in writing to such Trustee by the Company; 
 (c) Parent by the Trustee or by any Holder shall be sufficient for every
purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to such Guarantor addressed to it at (i) 20 Lower Hatch Street Dublin 2, Ireland, Attn: Treasury Department or (ii) any other
address previously furnished in writing to such Trustee by Parent; or 
 (d) Medtronic, Inc. by the Trustee or by any Holder shall be
sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to Medtronic, Inc. addressed to it at (i) 710 Medtronic Parkway, Minneapolis, MN 55432, Attn: Treasury
Department or (ii) any other address previously furnished in writing to such Trustee by Medtronic, Inc. 
 Section 1.06 Notice
to Holders; Waiver. 

  
 13 

 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 his address as it appears in the Security Register, not later than the latest date (if
any), and not earlier than the earliest date (if any), 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. 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. 

In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by
mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

Section 1.07 Conflict with Trust Indenture Act. 

If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act which is required under such Act to be a
part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to
apply to 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, Parent and Medtronic, Inc. shall bind its respective successors and assigns,
whether so expressed or not. 
 Section 1.10 Separability Clause. 

In case any provision or any portion of any provision in this Indenture or in the Securities or in any Note Guarantee shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 1.11 Benefits of Indenture. 

Nothing in this Indenture or in the Securities or in any Note Guarantee, express or implied, shall give to any Person, other than the parties
hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

  
 14 

 Section 1.12 Governing Law; Waiver of Jury Trial; Consent to Jurisdiction; Service of
Process. 
 This Indenture, the Securities and any Note Guarantee shall be governed by and construed in accordance with the law of the
State of New York and of the United States. For the avoidance of doubt, the applicability of Article 86 to 94-8 of the Luxembourg law on commercial companies shall be excluded. 

EACH OF THE COMPANY, PARENT, MEDTRONIC, INC., THE HOLDERS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES, THE NOTE GUARANTEES OR THE TRANSACTION CONTEMPLATED HEREBY 

To the fullest extent permitted by applicable law, each of the Company, Parent and Medtronic, Inc. hereby irrevocably submits to the
jurisdiction of any federal or state court located in the Borough of Manhattan in The City of New York, New York in any suit, action or proceeding based on or arising out of or relating to this Indenture or any Securities and irrevocably agrees that
all claims in respect of such suit or proceeding may be determined in any such court. Each of the Company, Parent and Medtronic, Inc. irrevocably waives, to the fullest extent permitted by law, any objection which it may have to the laying of the
venue of any such suit, action or proceeding brought in an inconvenient forum. Each of the Company, Parent and Medtronic, Inc. agrees that final judgment in any such suit, action or proceeding brought in such a court shall be conclusive and binding
upon the Company, Parent and Medtronic, Inc. and may be enforced in any courts to the jurisdiction of which the Company, Parent or Medtronic, Inc., as applicable, is subject by a suit upon such judgment; provided, that service of process is
effected upon the Company, Parent or Medtronic, Inc., as applicable, in the manner specified herein or as otherwise permitted by law. Each of the Company and Parent irrevocably appoints [    ] as its agent to receive service of
process or other legal summons for purposes of any suit, action or proceeding based on or arising out of or relating to this Indenture or any Securities. 

Section 1.13 Legal Holidays. 

In any case where any Interest Payment Date, Redemption 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 which 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 at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or
at the Stated Maturity. 
 Section 1.14 USA Patriot Act. 

  
 15 

 The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot
Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a
relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. 

Section 1.15 Judgment Currency. 

The Company and each Guarantor agrees, to the fullest extent that it may effectively do so under applicable law, that if for the purpose of
obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of, or premium or interest, if any, or Additional Amounts on the Securities of any series (the “Required Currency”) into a currency
in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required
Currency with the Judgment Currency on the New York Banking Day preceding that on which a final unappealable judgment is given. For purposes of the foregoing, “New York Banking Day” means any day except a legal holiday in The City
of New York. 
 Section 1.16 Force Majeure. 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of
or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and
interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to
resume performance as soon as practicable under the circumstances. 
 ARTICLE 2 

SECURITY FORMS 
 Section
2.01 Forms Generally. 
 The Securities of each series shall be in substantially the form set forth in this Article, or in such
other form as shall be 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 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. 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 for the authentication and delivery of such
Securities. 

  
 16 

 Each Security shall bear a notation of Guarantee substantially in the form set forth in
Section 2.07. 
 The definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in
any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such Securities. 

Section 2.02 Form of Face of Security. 

[Insert any legend required by the Internal Revenue Code, the Securities Act and/or other applicable securities laws and the regulations under each of
them.] 
  

			
	No.                    	  	$                    

 Medtronic Global Holdings S.C.A., a corporate partnership limited by shares (société en
commandite par actions) organized under the laws of the Grand Duchy of Luxembourg (herein called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received,
hereby promises to pay to             or registered assigns, the principal sum of              Dollars
on              and to pay interest thereon from              or from the most recent Interest Payment Date
to which interest has been paid or duly provided for,     on              and             in
each year, commencing                 , at the rate of     % per annum, until the principal hereof is paid or made available for payment. [If
applicable then insert—provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of     % per annum (to the extent that the payment of such interest
shall be legally enforceable), from the date such amounts are due until they are paid or made available for payment, and such interest on any overdue interest shall be payable on demand.] 

The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such 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, which shall be the
             or             (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any
such interest not so punctually paid or duly provided for will 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. 

  
 17 

 [If the Security is not to bear interest prior to Maturity, insert—The principal of
this Security shall not bear interest except in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal and any overdue premium shall bear interest at the rate of
    % per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment. Interest on any overdue principal or premium
shall be payable on demand. [Any such interest on overdue principal or premium which is not paid on demand shall bear interest at the rate of     % per annum (to the extent that the payment of such interest on interest shall be
legally enforceable), from the date of such demand until the amount so demanded is paid or made available for payment. Interest on any overdue interest shall be payable on demand.]] 

Payment of the principal of (and premium, if any) and [if applicable, insert—any such] interest on this Security will be made at
the office or agency of the Trustee maintained for that purpose in                     , 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 [if applicable, insert—; provided, however, that at the option of the Company payment of interest may be made by check mailed to the
address of the Person entitled thereto as such address shall appear in the Security Register]. 
 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. 

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 under its corporate seal. 
  

			
	Medtronic Global Holdings S.C.A.
		
	By	 	  

  

					
	Attest:	 		 	
	  
  
	 		 	

 Section 2.03 Form of Reverse of Security. 

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 an Indenture, dated as of                      (herein called the “Indenture”, which term
shall have the meaning assigned 

  
 18 

 
to it in such instrument), among the Company, Medtronic Public Limited Company, a public limited company incorporated under the laws of Ireland, Medtronic, Inc., a Minnesota corporation, and
                    , as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and
reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are,
and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited in aggregate principal amount to $            . The Company
may at any time issue additional securities under the Indenture in unlimited amounts having the same terms as the Securities; provided that no additional securities of a series may be issued if an Event of Default has occurred and is
continuing with respect to such series of securities. 
 [If applicable, insert—The Securities of this series may be redeemed at
any time [on or after                     ,
                    ], as a whole or in part, at the option of the Issuer, upon mailing notice of such redemption not less than 30 and not more than
60 days to the Holders of such Securities, at a redemption price equal to                     .] 

[If the Security is subject to redemption of any kind, insert—In the event of redemption of this Security in part only, a new
Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 

[If the Security is not an Original Issue Discount Security, insert—If an Event of Default with respect to Securities of this
series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 

[If the Security is an Original Issue Discount Security, insert—If an Event of Default with respect to Securities of this series
shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall be equal to—insert formula for determining
the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal, premium and interest (in each case to the extent that the payment of such interest shall be legally
enforceable), all of the Company’s obligations in respect of the payment of the principal of and premium and interest, if any, on the Securities of this series shall terminate.] 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, 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

  
 19 

 
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
herefor 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, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder
shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of at least 25% in principal amount of the Securities of this series at the time Outstanding shall
have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of
Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not
apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. Any payments with respect to the Securities
will be subject to the subordination provisions set forth in 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 any premium 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 Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or the Holder’s attorney duly authorized in writing, and thereupon one or more new
Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of
$             and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like
aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made to a Holder 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 may treat the Person in whose name this 

  
 20 

 
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. 
 Reference is made to the Indenture, including provisions subordinating the payment of principal of and premium, if any, and
interest on the Securities to the prior payment in full of all Senior Debt (as defined in the Indenture). Such further provisions shall for all purposes have the same effect as though fully set forth herein. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

Section 2.04 Form of Legend for Securities. 

Unless otherwise specified as contemplated by Section 3.01 for the Securities evidenced thereby, every Security authenticated and
delivered hereunder shall bear one or more of the appropriate legends in substantially the following forms as relevant below: 
 [If the
Security is a Global Security, then insert—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 A 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.] 
 [If the Security is a Global Security and The Depository Trust Company is to be the Depositary therefor, then
insert—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 OF 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 HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. TRANSFERS OF THIS GLOBAL SECURITY SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE.] 
 Section
2.05 Form of Trustee’s Certificate of Authentication. 
 The Trustee’s certificates of authentication
shall be in substantially the following form: 
 This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 

  
 21 

 Dated: 
  

			
	
[                   
 ], as Trustee

		
	 By:
	 	  

		 	Authorized Signatory

 Section 2.06 CUSIP Numbers. 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use
“CUSIP” numbers in notices of redemption as a convenience to Holders; provided that the Trustee shall have no liability for any defect in the “CUSIP” numbers as they appear on the any Security, notice or elsewhere;
provided further that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the
other 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 will promptly notify the Trustee in writing of any change in the “CUSIP”
numbers. 
 Section 2.07 Form of Guarantee. 

The form of Guarantee shall be set forth on the applicable series of Securities substantially as follows: 

GUARANTEE 
 For value received,
the undersigned (the “Guarantor”), to the extent set forth in and subject to the terms of the Indenture, dated as of
                     (the “Indenture”), among Medtronic Global Holdings S.C.A, a corporate partnership limited by shares
(société en commandite par actions) organized under the laws of the Grand Duchy of Luxembourg (the “Company”), Medtronic Public Limited Company, a public limited company incorporated under the laws of Ireland,
Medtronic, Inc., a Minnesota corporation, and                     , as Trustee (herein called the “Trustee”, which term includes any
successor trustee under the Indenture), hereby fully and unconditionally guarantees, on a joint and several basis, to each Holder and to the Trustee and its successors and assigns, that the principal of and premium, if any, and interest on the
Securities shall be promptly paid in full when due, whether at Stated Maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Securities, if any, if lawful, and all other obligations of the
Company to the Holders or the Trustee hereunder or thereunder shall be promptly paid in full or performed; provided that the obligations of each Guarantor is subordinated to the Senior Debt of such Guarantor to the same extent that the
Securities are subordinated to the Senior Debt of the Company as set forth in Article 15 of the Indenture. 
 The obligations of each
Guarantor to the Holders and to the Trustee pursuant to this Guarantee and the Indenture are expressly set forth in Article 14 of the Indenture, and reference is hereby made to the Indenture for the precise terms and limitations of this Guarantee.
Each Holder of the Securities to which this Guarantee is endorsed, by accepting such Securities, agrees to and shall be bound by such provisions. 

  
 22 

 All terms used in this Guarantee which are defined in the Indenture shall have the meanings
assigned to them in the Indenture. 
 IN WITNESS WHEREOF, each Guarantor has caused this Guarantee to be signed by a duly authorized
officer. 
 Dated: 
  

			
	 MEDTRONIC PUBLIC LIMITED
COMPANY

 
			
		
	 By
	 	
 

			
	
	 MEDTRONIC, INC.

			
		
	 By
	 	  

 ARTICLE 3 

THE SECURITIES 
 Section 3.01
Amount Unlimited; Issuable in Series. 
 The aggregate principal amount of Securities which may be authenticated and delivered under
this Indenture is unlimited. Additional Securities of any series of Securities authenticated and delivered under this Indenture may be authenticated and delivered hereunder at any time, having the same terms as, treated as a single class (for all
purposes under this Indenture) with, and in aggregate principal amounts that exceed the aggregate principal amount of, such previously authenticated and delivered Securities. 

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 the series (which shall distinguish the Securities of the series from Securities of any other series); 

(b) any limit upon the aggregate principal amount of the Securities of the series which may be authenticated and delivered under this
Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 3.04, 3.05, 3.06, 9.06 or 11.07 and except for any Securities
which, pursuant to Section 3.03, are deemed never to have been authenticated and delivered hereunder); 

  
 23 

 (c) the Person to whom any interest on a Security of the series shall be payable, if other than
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; 

(d) the date or dates on which the principal of any Securities of the series is payable; 

(e) the rate or rates at which any Securities of the series shall bear interest, if any, the date or dates from which any such interest
shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any such interest payable on any Interest Payment Date; 

(f) the place or places where the principal of and any premium and interest on any Securities of the series shall be payable; 

(g) the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series
may be redeemed, in whole or in part, at the option of the Company and, if other than by a Board Resolution, the manner in which any election by the Company to redeem the Securities shall be evidenced; 

(h) the obligation, if any, of the Company to redeem or purchase any Securities of the series pursuant to any sinking fund or analogous
provisions or at the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series shall be redeemed or purchased, in whole or in part, pursuant
to such obligation; 
 (i) if other than denominations of $1,000 and any integral multiple thereof, the denominations in which any
Securities of the series shall be issuable; 
 (j) if the amount of principal of or any premium or interest on any Securities of the
series may be determined with reference to an index or pursuant to a formula, the manner in which such amounts shall be determined; 

(k) if other than the currency of the United States of America, the currency, currencies or currency units in which the principal of or
any premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of America for any purpose, including for purposes of the definition of
“Outstanding” in Section 1.01; 
 (l) if the principal of or any premium or interest on any Securities of the
series is to be payable, at the election of the Company or the Holder thereof, in one or more currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies or currency units in
which the principal of or any premium or interest on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which such election is to be made and the amount so payable (or the
manner in which such amount shall be determined); 

  
 24 

 (m) if other than the entire principal amount thereof, the portion of the principal amount
of any Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02; 

(n) if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more
dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable
upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined);

 (o) if applicable, that the Securities of the series, in whole or any specified part, shall be defeasible pursuant to
Section 13.02 or Section 13.03 or both such Sections and, if other than by a Board Resolution, the manner in which any election by the Company to defease such Securities shall be evidenced; 

(p) 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 which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 2.04 and any circumstances in
addition to or in lieu of those set forth in Clause (2) of the last paragraph of 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; 

(q) any addition to or change in the Events of Default which applies to any Securities of the series and any change in the right of the
Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 5.02; 

(r) any addition to or change in the covenants set forth in Article 10 which applies to Securities of the series; 

(s) whether the Securities of the series are subject to guarantee provisions different from or in addition to those set forth in Article
14; 
 (t) whether the Securities of the series are subject to a registration rights agreement pursuant to which additional interest
may be payable on such Securities; 
 (u) the extent to which payments on the Securities will be subordinated to the payment of Senior
Debt of the Company; and 
 (v) any other terms of the series (which terms shall not be inconsistent with the provisions of this
Indenture, except as permitted by Section 9.01(e)). 
 All Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 3.03) set forth, or determined in the manner provided in, the Officers’ Certificate referred to above or
in any such indenture supplemental hereto. 

  
 25 

 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 issuable only in registered form without coupons and only in such denominations as shall be specified
as contemplated by Section 3.01. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and any multiple thereof. 

Section 3.03 Execution, Authentication, Delivery and Dating. 

The Securities shall be executed on behalf of the Company by any two of its Chairman of the Board, Chief Executive Officer, its President, its
Chief Financial Officer, its Treasurer or one of its Vice Presidents, under its corporate seal reproduced thereon attested by any of the aforementioned officers. 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 are the proper officers of the Company at the time of execution
of such Security shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices. 
 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 and any Note Guarantee executed by the Guarantors 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 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, and (subject to Section 6.01) shall be fully protected in relying upon, an Opinion of Counsel (subject to any reservations set out therein) stating: 

(a) if the form of such Securities has been established by or pursuant to Board Resolution 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 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 and the related Note Guarantees, when authenticated and delivered by the Trustee and issued by the Company in
the manner and subject to any conditions 

  
 26 

 
specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company and the Guarantors, as applicable, enforceable in accordance with their terms, subject
to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law). 
 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 which 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 are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 

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 manual signature, 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 each Guarantor may execute any Note Guarantee
thereon, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the
definitive Securities 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 that series to be prepared without
unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any 

  
 27 

 
series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of
like tenor and aggregate principal amount. 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 and tenor. 

Section 3.05 Registration, Registration of Transfer and Exchange; Certain Transfers and Exchanges. 

(a) Registration, Registration of Transfer and Exchange Generally. The Company shall cause to be kept at the Corporate Trust
Office of the Security Registrar designated pursuant to this Section 3.05 a register (being the combined register of the Security Registrar and all Co-Security Registrars and herein sometimes collectively
referred to as the “Security 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.
[                    ], is hereby initially appointed Security Registrar, and the Trustee is hereby initially appointed Co-Security Registrar, in each case for the purpose of registering Securities and transfers of Securities as herein provided. The Company, with prior notice to the Trustee, may (i) replace the Security
Registrar with an entity that satisfies the eligibility requirements of a Trustee under Section 6.09 and (ii) remove or add Co-Security Registrars. A Security Registrar or Co-Security Registrar shall not be liable for the acts or omissions of any other Security Registrar or Co-Security Registrar, as the case may be. The Trustee shall have the
right to inspect the register of the Security Registrar (and any Co-Security Registrar) at all reasonable times and may request and rely upon a certificate of a duly authorized officer of the Security
Registrar (and any Co-Security Registrar) as to the names and addresses of Holders and the principal amounts and numbers of the Securities held thereby and such other matters as the Trustee may reasonably
request. 
 In addition to any Security Register described in the foregoing paragraph, a register of the Securities will be kept at the
registered office of the Company, for Luxembourg law purposes. Upon written request from the Company, the Registrar shall provide the Company with a copy of the Security Register to enable it to maintain a register of the Securities at its
registered office. The Company accepts any copy of the register as correspondence and document recording the transfer of any Securities and agrees to update its register upon receipt of such copy. 

The Company hereby initially selects the Corporate Trust Office of the Trustee, located at
                    , Attn:                     ,
as the office or agency of the Company in                     , where the Securities may be presented or surrendered for payment and where the
Securities may be surrendered for registration of transfer or exchange in accordance with Section 10.02. 
 Upon surrender for
registration of transfer of any Security of a series at the office or agency of the Company in a Place of Payment for that series, the Company shall execute, and 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 and of like tenor and aggregate principal amount and each Guarantor shall execute any Note Guarantees thereon. 

  
 28 

 At the option of the Holder, Securities of any series may be exchanged for other Securities of
the same series, of any authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall
execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive and each Guarantors shall execute any Note Guarantees thereon. 

All Securities and any Note Guarantees thereon issued upon any registration of transfer or exchange of guaranteed Securities shall be the
valid obligations of the Company and the Guarantors, as applicable, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities and any Guarantees thereon surrendered upon such registration of transfer or
exchange. 
 Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or
the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.04, 9.06 or 11.7 not involving any transfer. 

If the Securities of any series (or of any series and specified tenor) are to be redeemed in part, the Company shall not be required
(A) to issue, register the transfer of or exchange any Securities of that series (or of that series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days before the day of the mailing of a notice
of redemption of any such Securities selected for redemption under Section 11.03 and ending at the close of business on the day of such mailing, or (B) to register the transfer of or exchange any Security so selected for redemption in
whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 The provisions of Clauses (1), (2), (3), and
(4) below shall apply only to Global Securities: 
 (1) 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. 
 (2) 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 or (ii) has ceased to be a clearing agency registered under the Exchange Act, and, in each case, a successor

  
 29 

 
depositary is not appointed by the Company within 90 days of such notice or after the Company becomes aware of such cessation, (B) the Company in its sole discretion determines that such
Global Security shall be exchangeable for definitive registered Securities and executes and delivers to the Security Registrar a Company Order providing that such Global Security shall be so exchangeable, (C) there shall have occurred and be
continuing an Event of Default with respect to such Global Security 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.

 (3) Subject to Clause (2) 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. 

(4) 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 or 11.07 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. 
 Section 3.06 Mutilated, Destroyed, Lost and
Wrongfully Taken Securities. 
 If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding and each Guarantor shall execute any Note Guarantee thereon. 

If there shall be delivered to the Company and 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 the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or wrongfully taken Security, a new Security of the same series and of like tenor and principal amount and bearing a
number not contemporaneously outstanding and each Guarantor shall execute any Note Guarantees thereon. 
 In case any such mutilated,
destroyed, lost or wrongfully taken Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 

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

Every new Security of any series and any Note Guarantee thereon issued pursuant to this Section in lieu of any destroyed, lost or wrongfully
taken Security shall constitute an original additional contractual obligation of the Company or the Guarantors, as applicable, whether or not 

  
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the destroyed, lost or wrongfully taken 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 wrongfully taken Securities. 

Section 3.07 Payment of Interest; Interest Rights Preserved. 

Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Security which is
payable, and is punctually paid or duly provided for, on any Interest Payment Date 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. 
 Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any
Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the 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 (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 of such series 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 which shall
be not more than 15 days and not less than 10 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 given to each Holder of Securities of such series in the manner
set forth in Section 1.06, 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 so mailed, 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 on the Securities of any series in any other lawful manner not inconsistent
with the requirements of any securities 

  
 31 

 
exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to
this Clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section, each
Security delivered under this Indenture upon registration of 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 Owners. 

Prior to due presentment of a Security for registration of transfer, the Company, the Guarantors, the Trustee and any agent of the Company,
any Guarantor or the Trustee may treat the Person in whose name such 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 Guarantors, the Trustee nor any agent of the Company, any Guarantor or the Trustee shall be affected by notice to the contrary.

 Section 3.09 Cancellation. 

All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall,
if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company or any Guarantor may at any time deliver to the Trustee for cancellation any Securities previously authenticated and
delivered hereunder which the Company or any Guarantor may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder
which the Company has not issued and sold, 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 held by the Trustee shall be disposed of in accordance with the Trustee’s customary procedures. 

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
shall be computed on the basis of a 360-day year of twelve 30-day months. 

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 

  
 32 

 
provided for), and the Trustee, 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 which 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, 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 subclauses (ii) (A), (B), or (C) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose money (either in U.S. dollars or U.S. Government
Obligations or, in the case of Securities denominated in a currency other than U.S. dollars, Foreign Government Obligations) in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the
Trustee for cancellation, for principal and any premium and interest to the date of such deposit (in the case of Securities which 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 or any Guarantor to the Trustee under Section 6.07, the obligations of the Trustee to any Authenticating Agent under Section 6.14 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 it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company or any Guarantor acting as its own Paying Agent) as
the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee. 

  
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 ARTICLE 5 

REMEDIES 
 Section
5.01 Events of Default. 
 “Event of Default” wherever used herein with respect to Securities of any series,
means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or
regulation of any administrative or governmental body): 
 (a) default in the payment of any interest upon any Security of that series
when it becomes due and payable, and continuance of such default for a period of 30 days; or 
 (b) default in the payment of the
principal of or any premium on any Security of that series at its Maturity; or 
 (c) default in the deposit of any sinking fund
payment, when and as due by the terms of a Security of that series; or 
 (d) default in the performance, or breach, of any covenant or
warranty of the Company or a Guarantor in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture
solely for the benefit of series of Securities other than that series), and continuance of such default or breach for a period of 60 consecutive days after there has been given, by registered or certified mail, to the Company and the Guarantors by
the Trustee or to the Company, the Guarantors and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and
stating that such notice is a “Notice of Default” hereunder; or 
 (e) there occurs with respect to any Debt of Parent
or any Restricted Subsidiary having an outstanding principal amount of $150,000,000 or more in the aggregate for all such Debt of all such Persons (i) an event of default that results in such Debt being due and payable prior to its scheduled
maturity or (ii) failure to make a principal payment when due at maturity; or 
 (f) any Note Guarantee, ceases to be in full
force and effect or is declared to be null and void and unenforceable or any Note Guarantee is found to be invalid or any Guarantor denies its liability under its Note Guarantee (other than by reason of its release in accordance with the terms of
this Indenture, including pursuant to Section 14.06); or 
 (g) an involuntary case or other proceeding is commenced against the
Company or any Guarantor with respect to it or its debts under any bankruptcy, insolvency, examinership or other similar law now or hereafter in effect seeking the appointment of a trustee, receiver, liquidator, examiner, custodian or other similar
official of it or any substantial part of its property, and such involuntary case or other proceeding remains undismissed and unstayed for a period of 60 days; or an order for relief is entered against the Company or any Guarantor under the federal
bankruptcy laws or the laws of the Company’s or such Guarantor’s jurisdiction of organization, as applicable, in each case as now or hereafter in effect; or 

  
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 (h) the Company or any Guarantor (i) commences a voluntary case under any applicable
bankruptcy, insolvency or other similar law now or hereafter in effect, or consents to the entry of an order for relief in an involuntary case under any such law, (ii) consents to the appointment of or taking possession by a receiver,
liquidator, assignee, custodian, trustee, sequestrator or similar official of the Company or such Guarantor or for all or substantially all of the property and assets of the Company or such Guarantor or (iii) effects any general assignment for
the benefit of creditors (an event of default specified in clause (g) or (h) a “Bankruptcy Default”); or 

(i) any other Event of Default provided with respect to Securities of that series. 

Section 5.02 Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default (other than a Bankruptcy 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 at least 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series (or, if any Securities of that
series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) to be due and payable immediately, by a notice in writing to the Company and the Guarantors (and to the
Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If a Bankruptcy Default with respect to Securities of any series at the time Outstanding occurs, the
principal amount of all the Securities of that series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) shall
automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. 

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 principal amount of the Outstanding Securities of that series, by written notice to the Company and the Guarantors
and the Trustee, may rescind and annul such declaration and its consequences if: 
 (a) the Company or any Guarantor has paid or
deposited with Trustee a sum sufficient to pay: 
 (i) all overdue interest on all Securities of that series, 

(ii) 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 any interest thereon at the rate or rates prescribed therefor in such Securities, and 
 (iii) to the extent that
payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, if any; 

  
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 (b) all sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel; and 
 (c) all Events of Default with respect to
Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in
Section 5.13. 
 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 Company and each Guarantor covenants that if: 

(a) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues
for a period of 30 days, or 
 (b) default is made in the payment of the principal of (or premium, if any, on) any Security at the
Maturity thereof, the Company or a Guarantor 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 any premium and interest and, to
the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium 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 the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

If an Event of Default 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. 

Section 5.04 Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company or a Guarantor (or any other obligor upon the Securities), its property or its
creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such
proceeding. In particular, the Trustee shall be authorized 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 6.07. 

  
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 No provision of this Indenture 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; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

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 any premium 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 under Section 6.07; and 

SECOND: To the payment of the amounts then due and unpaid upon Securities of such series for principal, premium, if any, and interest, in
respect of which or for the benefit of which such funds have been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal, premium, if any, and interest, respectively;
and 
 THIRD: To the Company or the Guarantors, as their interests may appear. 

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, examiner or trustee, or for any other remedy hereunder, unless: 
 (a) such Holder has
previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that series; 

(b) the Holders of 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 in its own name as Trustee hereunder; 

  
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 (c) such Holder or Holders have offered to the Trustee indemnity against the costs, expenses
and liabilities to be incurred in compliance with such request; 
 (d) the Trustee for 60 days after its receipt of such notice,
request and offer of indemnity has failed to institute any such proceeding; and 
 (e) no direction inconsistent with such written
request has been given to the Trustee during such 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 of such Holders (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such
Holders). 
 Section 5.08 Unconditional Right of Holders To Receive Principal, Premium and Interest. 

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 the principal of and any premium and (subject to Section 3.07) interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and to
institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
 Section
5.09 Restoration of Rights and Remedies. 
 If the Trustee or any Holder has instituted any proceeding to enforce any right or
remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the
Company, the Guarantors, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding
had been instituted. 
 Section 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 or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by 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. 

  
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 Section 5.11 Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default
shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 5.12 Control by Holders. 

The Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series; provided that: 

(a) such direction shall not be in conflict with any rule of law or with this Indenture, the Securities or any Note Guarantee, 

(b) such direction is not unduly prejudicial to the rights of the Holders, 

(c) such direction will not involve the Trustee in personal liability or expense for which the Trustee has not received a satisfactory
indemnity, and 
 (d) the Trustee may 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 by notice to the Trustee may on behalf
of the Holders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default: 

(a) in the payment of the principal of or any premium or interest on any Security of such series, or 

(b) in respect of a covenant or provision hereof which under Article 9 cannot be modified or amended without the consent of the Holder of
each Outstanding Security of such series affected. 
 Upon any such waiver, such default shall cease to exist, and any Event of Default
arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 5.14 Undertaking for Costs. 

  
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 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, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs, including attorney’s fees and
expenses, against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an
undertaking or to make such an assessment in any suit instituted by the Company or the Trustee. 
 Section 5.15 Waiver of Usury,
Stay or Extension Laws. 
 The Company and each Guarantor 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 usury, 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 and each Guarantor (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. 
 ARTICLE 6

 THE TRUSTEE 
 Section
6.01 Certain Duties and Responsibilities. 
 The duties and responsibilities of the Trustee shall be as provided by the Trust
Indenture Act. Notwithstanding the foregoing, 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. 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. 

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

(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 willful misconduct 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 (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

  
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 (b) If an Event of Default 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 person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

Section 6.02 Notice of Defaults. 

If a default occurs hereunder with respect to Securities of any series, the Trustee shall give the Holders of Securities of such series notice
of such default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any default of the character specified in Section 5.01(e) with respect to Securities of such series, no such notice to
Holders shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default
with respect to Securities of such series. 
 Section 6.03 Certain Rights of Trustee. 

Subject to the provisions of Section 6.01: 

(a) the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper
party or parties or a Guarantor; 
 (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 shall 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, rely upon an Officers’ Certificate; 

(d) the Trustee may consult with counsel of its choosing and the advice of such counsel or any Opinion of Counsel shall be full and
complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(e) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or
direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request or
direction; 
 (f) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or 

  
 41 

 
document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further
inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney; 

(g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents
or attorneys; 
 (h) in no event shall the Trustee be responsible or liable for special, indirect or punitive loss or damage of any
kind whatsoever (including loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action; 

(i) the Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder; 

(j) 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; 

(k) the Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has
actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture; and 

(l) the Company shall provide to the Trustee on a timely basis such information as the Trustee requires to enable the Trustee to prepare
and file any form required to be submitted by the Company with the Internal Revenue Service and the Holders of the Notes relating to original issue discount. 

Section 6.04 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 use or application by the Company of Securities or the proceeds thereof. 

Section 6.05 May Hold Securities. 

The Trustee, any Authenticating Agent, any Paying Agent, any Security 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 6.08 and 6.13, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other agent. 

  
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 Section 6.06 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
6.07 Compensation and Reimbursement. 
 The Company and each Guarantor agrees: 

(a) to pay to the Trustee from time to time compensation for all services rendered by it hereunder (which compensation shall be agreed
upon in writing from time to time between the Trustee and the Company and 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 compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as
may be attributable to its negligence or willful misconduct; and 
 (c) to indemnify each of the Trustee or any predecessor Trustee and
their agents for, and to hold them harmless against, any and all loss, damage, claims, liability or expense, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee), arising out of or in connection with
the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim (whether asserted by the Company, any Guarantor, any Holder or any other Person) or liability in connection
with the exercise or performance of any of its powers or duties hereunder, or in connection with enforcing the provisions of this Section, except to the extent that such loss, damage, claim, liability or expense is due to its own negligence or
willful misconduct. 
 To secure the Company’s and the Guarantor’s payment obligations in this Section, the Trustee shall have a
lien prior to the Securities on all money or property held or collected by the Trustee, except that held in trust for the benefit of Holders of Securities to pay principal and interest on particular Securities. 

Without prejudice to its rights hereunder, when the Trustee incurs expenses or renders services after an Event of Default specified in Section
5.01(g) or Section 5.01(h) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under applicable federal or state bankruptcy, insolvency, reorganization or other similar law. 

Section 6.08 Conflicting Interests. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate
such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by such Act, the Trustee shall not be deemed to have a conflicting interest
by virtue of being a trustee under this Indenture with respect to Securities of more than one series. 

  
 43 

 Section 6.09 Corporate Trustee Required; Eligibility. 

There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder
for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000. If any such Person publishes reports of
condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, 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 immediately in the manner and with the effect hereinafter specified in this Article. 
 Section
6.10 Resignation and Removal; Appointment of Successor. 
 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 in accordance with the applicable requirements of Section 6.11. 

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 and
the Guarantors. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may, at the
expense of the Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

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 and the Guarantors. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30
days after the removal of the Trustee, the removed Trustee may, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

If at any time: 
 (a) the
Trustee shall fail to comply with Section 6.08 after written request therefor by the Company, Parent or by any Holder who has been a bona fide Holder of a Security for at least six months, or 

(b) the Trustee shall cease to be eligible under Section 6.09 and shall fail to resign after written request therefor by the
Company, Parent or by any such Holder, or 

  
 44 

 (c) 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 by 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. 

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 6.11. 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 in accordance with the
applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent 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 required by Section 6.11, any Holder who has been a bona fide Holder of a Security of such series for at least six
months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

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 to all Holders of Securities of such series in the manner provided in Section 1.06. 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 6.11 Acceptance of Appointment by Successor.

 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 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. The successor Trustee shall mail notice of its succession to the Holders. 

  
 45 

 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 which (a) 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, (b) if the retiring Trustee is not retiring with respect to all Securities, 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 (c) 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. 
 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 such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may
be. 
 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. 
 Section 6.12 Merger, Conversion, Consolidation or Succession to Business. 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee (including the trust created by this Indenture), shall be the successor
of the Trustee hereunder; provided such corporation 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 

  
 46 

 
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 6.13 Preferential Collection of Claims Against Company. 

If and when the Trustee shall be or become a creditor of the Company or any Guarantor (or any other obligor upon the Securities), the Trustee
shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company or such Guarantor (or any such other obligor). 

Section 6.14 Appointment of Authenticating Agent. 

The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which 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 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 corporation 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 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. 
 The Trustee hereby initially appoints
[                    ] as an Authenticating Agent. The Company hereby deems
[                    ] an acceptable Authenticating Agent. 

Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all of the corporate agency or corporate trust business of an Authenticating Agent
(including the authenticating agency contemplated by this Indenture), shall continue to be an Authenticating Agent; provided such corporation 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. 

  
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 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 which shall be acceptable to the Company and shall give notice of
such appointment in the manner provided in Section 1.06 to all Holders of Securities of the series with respect to which such Authenticating Agent will serve. 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. 
 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. 

 

			
	[                                ]
		
	By:	 	  

		 	As Authenticating Agent
		
	By:	 	  

		 	As Authenticating Agent

 ARTICLE 7 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE, COMPANY AND GUARANTORS 

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) not more than 15 days after each Regular Record Date and in any case at least once every 6 months, 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 the preceding 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; excluding from any such list names and addresses received by the Trustee in its capacity as Security Registrar or Co- Security Registrar, as applicable. 

  
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 Section 7.02 Preservation of Information; Communications to Holders. 

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 received by the Trustee in its capacity as Security Registrar or Co-Security Registrar, as applicable. The
Trustee may destroy any list furnished to it as provided in Section 7.01 upon receipt of a new list so furnished. 
 The rights of
Holders to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that none of the Company, the
Guarantors nor the Trustee nor any agent of any of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 

Section 7.03 Reports by Trustee. 

By no later than May 15 of each year, beginning on May 15, [         ], and for as long as
the Securities remain outstanding, the Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant
thereto. 
 A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange
upon which any Securities are listed, with the Commission and with the Company. The Company will promptly notify the Trustee when any Securities are listed on any stock exchange, and any delisting thereof. 

Section 7.04 Reports. 

(a) Parent shall deliver to the Trustee, within 30 days after Parent has filed, or would have been required to file, the same with the
Commission, copies of the annual reports and quarterly reports and of the information, documents and other periodic or current reports (or copies of such portions of any of the foregoing as the Commission may from to time to time by rules and
regulations prescribe) that Parent may be required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (other than confidential filings, documents subject to confidential treatment and correspondence with the
Commission); provided, that the filing of the foregoing documents via the EDGAR system (or any successor electronic filing system), shall be deemed to be delivered to the Trustee as of the time such documents are filed via EDGAR (or such
successor system); provided, further, that if at any time Parent is not subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, it will file with the Trustee and the Commission, in accordance with rules
and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports that may be required pursuant to Section 13 of the Exchange Act, in respect of a debt security listed and
registered on a national securities exchange as may be prescribed from time to time in such rules and regulations. The Trustee shall have no obligation whatsoever to determine whether or not such information, documents or reports have been filed via
the EDGAR system (or such successor system). 

  
 49 

 (b) If this Indenture is qualified under the Trust Indenture Act, the Company and each
Guarantor will comply with Section 314(a) of the Trust Indenture Act, to the extent applicable. 
 (c) Delivery of any information,
documents and reports to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein,
including the Company’s or the Guarantors’ 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 in any transaction or series of transactions, consolidate with or merge into any other Person, or sell, assign, convey,
transfer, lease or otherwise dispose of all or substantially all of its assets to any other Person, unless: 
 (a) either: (i) the
Company shall be the continuing Person; or (ii) the Person (if other than the Company), formed by such consolidation or into which the Company is merged, or the Person that acquires, by sale, assignment, conveyance, transfer, lease or other
disposition, all or substantially all of the assets of the Company, shall (1) be a corporation, partnership, limited liability company, trust or similar entity organized and validly existing under the laws of the United States of America, any
state or political subdivision thereof, the District of Columbia, the United Kingdom or any member country of the European Union and (2) expressly assume, by a supplemental indenture, in form reasonably satisfactory to the Trustee, the due and
punctual payment of the principal of (and premium, if any) and interest on all the Securities and the performance or the observance 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 (including the Incurrence of any Debt in connection with such transaction or
series of transactions), no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have occurred and be continuing (provided, that, for the avoidance of doubt, Debt of a Restricted
Subsidiary Incurred prior to such transaction which is assumed by the Company, another Restricted Subsidiary or the Person assuming the Company’s obligations hereunder in connection with such transaction shall be deemed not to be a separate
Incurrence of Debt); and 
 (c) if, as a result of any such consolidation or merger or such conveyance, transfer or lease, properties
or assets of the Company would become subject to a mortgage, pledge, lien, security interest or other encumbrance which would not be permitted by this Indenture, the Company or such successor Person, as the case may be, shall take such steps as
shall be necessary effectively to secure the Securities equally and ratably with (or prior to) all indebtedness secured thereby; and 

  
 50 

 (d) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such consolidation, merger, sale, conveyance, assignment, transfer, lease or other disposition and such supplemental indenture comply with the requirements of this Indenture. 

Notwithstanding the foregoing, the provisions of this Section 8.01 shall not apply to any consolidation, merger, sale, conveyance,
assignment, transfer, lease or other disposition of assets between or among the Company and Parent and/or any other Restricted Subsidiary. 

Section 8.02 Successor Substituted. 

Upon any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of
substantially all of the assets of the Company 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 thereafter, except in the case of a lease, the predecessor
Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE 9 

SUPPLEMENTAL INDENTURES 
 Section
9.01 Supplemental Indentures Without Consent of Holders. 
 Without the consent of the Holders of any series of
Securities, the Company and, to the extent applicable, each Guarantor, in each case when authorized by a Board Resolution, 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: 
 (a) to evidence the succession of another Person to the Company or
any Guarantor and the assumption by any such successor of the covenants of the Company or such Guarantor herein and in the Securities of any series and in the Note Guarantees of any series, as applicable; or 

(b) to add to the covenants of the Company or any Guarantor 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
any Guarantor; or 
 (c) 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 

(d) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance
of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; or 

  
 51 

 (e) to 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 neither (A) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit
of such provision nor (B) modify the rights of the Holder of any such Security with respect to such provision or (ii) shall become effective only when there is no such Security Outstanding; or 

(f) to secure the Securities or any Note Guarantee; or 

(g) to establish the form or terms of Securities of any series as permitted by Sections 2.01 and 3.01; or 

(h) 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 6.11; or

 (i) to cure any ambiguity, to correct or supplement any provision herein or in any supplemental indenture which may be defective or
inconsistent with any other provision herein or in any supplemental indenture, or to make any other provisions with respect to matters or questions arising under this Indenture; provided that such action pursuant to this Clause (i) shall
not adversely affect the interests of the Holders of Securities of any series in any material respect; or 
 (j) to conform this
Indenture or any supplemental indenture to the description of the Securities set forth in any prospectus or prospectus supplement related to such series of Securities; or 

(k) to comply with the rules of any applicable securities depositary; or 

(l) to comply with any requirements of the Commission in connection with the qualification of the Indenture under the Trust Indenture
Act; or 
 (m) to add or release a Guarantor as required or permitted by this Indenture. 

Section 9.02 Supplemental Indentures with Consent of Holders. 

With the consent of the Holders of not less than 50% in principal amount of the Outstanding Securities of each series affected by such
supplemental indenture, by Act of said Holders delivered to the Company, the Guarantors and the Trustee, the Company and the Guarantors, in each case when authorized by a Board Resolution, 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 

  
 52 

 
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) extend the Stated Maturity of the principal of, or any installment of
principal of or interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any
other Security which would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02, or change any 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, on or after the Redemption 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 10.08, 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, however, that this 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 and Article 10, or the deletion of this proviso, in accordance with the requirements of Section 6.11
and Section 9.01(h); or 
 (d) release Parent or Medtronic, Inc. from its obligations in respect of the Note Guarantees or modify the
Note Guarantees of any series other than in accordance with the provisions of this Indenture. 
 A supplemental indenture which changes or
eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of 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 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. 
 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 receive, and (subject to Section 6.01) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel (subject to any
reservations set out therein) 

  
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stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and that such supplemental indenture is the valid and binding obligation of
the Company and any Guarantors party thereto, enforceable against the Company and any Guarantors party thereto in accordance with its terms. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which 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. 

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. 

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 Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and any Note Guarantee executed thereon and authenticated and delivered by the Trustee in exchange for Outstanding
Securities of such series. 
 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 any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture. The performance by any Guarantor of the obligations of
the Company under this Section 10.01 shall be deemed to constitute performance thereof by the Company. 
 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, where Securities of that series may be surrendered for registration of 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 will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company

  
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shall fail to maintain any such required 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, and the Company hereby appoints the Trustee as its agent 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 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 of any change in the location of any such other 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 or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and 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 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, on or prior to each due date of the principal
of or any premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company
will promptly notify the Trustee of its action or failure so to act. 
 The Company hereby initially appoints
[                    ] at its office located at
                    , Attn:                     ,
as a Paying Agent. 
 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) comply with the provisions of the Trust Indenture Act applicable to it as a Paying
Agent and (b) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of that series, upon the written request of the Trustee,
forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 
 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. 

  
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 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 or any premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Company on Company Request,
or (if then held by the Company) shall 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 a newspaper published in the English language, customarily published on each Business Day and of general circulation in New York that, after a date specified therein, which shall not be less than
30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
 Section
10.04 Statement by Officers as to Default. 
 (a) The Company and each Guarantor (to the extent that such Guarantor is so
required under the Trust Indenture Act) shall deliver to the Trustee within 120 days after the end of each fiscal year of Parent a brief certificate (which need not comply with the requirements of the definition of “Officers’
Certificate” set forth herein) from the principal executive, financial or accounting officer of the Company on its behalf as to his or her knowledge of the Company’s and the Guarantors’ compliance with all covenants and agreements
under this Indenture required to be complied with by the Company or such Guarantor. Such certificate need not include a reference to any non-compliance that has been fully cured prior to the date as of which
such certificate speaks. 
 (b) The Company or a Guarantor, as applicable, shall, within 30 days after becoming aware of the occurrence
of an Event of Default, provide the Trustee with an Officers’ Certificate providing notice of and specifying such Event of Default. 

Section 10.05 Existence. 

Subject to Article 8, each of the Company and the Guarantors will do or cause to be done all things necessary to preserve and keep in full
force and effect its existence, rights (charter and statutory) and franchises; provided, however, that neither the Company nor any Guarantor shall be required to preserve any such right or franchise if the Board of Directors shall
determine that the preservation thereof is no longer desirable in the conduct of the business of the Company or such Guarantor and that the loss thereof is not disadvantageous in any material respect to the Holders. 

Section 10.06 Limitation on Secured Debt. 

(a) Parent will not, and will not permit any Restricted Subsidiary to, Incur any Debt secured by a Lien on any Principal Property, now
owned or hereafter owned by Parent or any Restricted Subsidiary, or any shares of stock or Debt of any Restricted Subsidiary, without effectively providing that the Securities of that series (together with, if Parent shall so determine, any other
Debt of Parent or such Restricted Subsidiary then existing or thereafter created which 

  
 56 

 
is not subordinate to the Securities) shall be secured equally and ratably with (or prior to) such secured Debt so long as such secured debt shall be so secured; provided that Parent or
any Restricted Subsidiary may Incur Debt secured by Liens without equally and ratably securing the Securities of that series if, on the date of the Incurrence, after giving effect to the Incurrence and to the retirement of any Debt that is
concurrently being retired, the aggregate amount of all outstanding Debt secured by Liens which could not have been incurred, issued, assumed or guaranteed by Parent or a Restricted Subsidiary without equally and ratably securing the Securities of
each series then Outstanding except for the proviso of this paragraph, together with the aggregate amount of Attributable Debt incurred pursuant to Section 10.07(b)(iii), does not at such time exceed 20% of Consolidated Net Tangible Assets of
Parent. 
 (b) Notwithstanding the foregoing, Parent and, to the extent provided below, any Restricted Subsidiary may Incur Debt
secured by the following Liens (“Permitted Debt”): 
 (i) Liens on any Principal Property acquired (whether by merger,
consolidation, purchase, lease or otherwise), constructed or improved by Parent or any Restricted Subsidiary after the date of the Indenture which are created or assumed prior to, contemporaneously with, or within 360 days after, such acquisition,
construction or improvement, to secure or provide for the payment of all or any part of the cost of such acquisition, construction or improvement (including related expenditures capitalized for federal income tax purposes in connection therewith)
incurred after the date of the Indenture; 
 (ii) Liens on any property, shares of Capital Stock or Debt existing at the time of
acquisition thereof, whether by merger, consolidation, purchase, lease or otherwise (including Liens on property, shares of Capital Stock or Debt of a Corporation existing at the time such Corporation becomes a Restricted Subsidiary); 

(iii) Liens in favor of, or which secure Debt owing to, Parent or any Restricted Subsidiary; 

(iv) Liens in favor of the United States or any state thereof, or any department, agency, or instrumentality or political subdivision
thereof, or political entity affiliated therewith, or in favor of any other country, or any political subdivision thereof, to secure partial, progress, advance or other payments, or other obligations, pursuant to any contract or statute, or to
secure any Debt incurred for the purpose of financing all or any part of the cost of acquiring, constructing or improving the property subject to such Liens (including Liens incurred in connection with pollution control, industrial revenue or
similar financings); 
 (v) Liens imposed by law, such as mechanics’, workmen’s, repairmen’s, materialmen’s,
carriers’, warehousemen’s, vendors’ or other similar Liens arising in the ordinary course of business, or governmental (federal, state or municipal) Liens arising out of contracts for the sale of products or services by Parent or any
Restricted Subsidiary, or deposits or pledges to obtain the release of any of the foregoing; 
 (vi) pledges or deposits under
workmen’s compensation, unemployment insurance, or similar legislation and Liens of judgments thereunder which are not currently dischargeable, or good faith deposits in connection with bids, tenders, contracts (other than for

  
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the payment of money) or leases to which Parent or any Restricted Subsidiary is a party, or deposits to secure public or statutory obligations of Parent or any Restricted Subsidiary, or deposits
in connection with obtaining or maintaining self-insurance or to obtain the benefits of any law, regulation or arrangement pertaining to workmen’s compensation, unemployment insurance, old age pensions, social security or similar matters, or
deposits of cash or obligations of the United States to secure surety, appeal or customs bonds to which Parent or any Restricted Subsidiary is a party, or deposits in litigation or other proceedings such as, but not limited to, interpleader
proceedings; 
 (vii) Liens created by or resulting from any litigation or other proceeding which is being contested in good faith by
appropriate proceedings, including Liens arising out of judgments or awards against Parent or any Restricted Subsidiary with respect to which Parent or such Restricted Subsidiary is in good faith prosecuting an appeal or proceedings for review; or
Liens incurred by Parent or any Restricted Subsidiary for the purpose of obtaining a stay or discharge in the course of any litigation or other proceeding to which Parent or such Restricted Subsidiary is a party; 

(viii) Liens for taxes or assessments or governmental charges or levies not yet due or delinquent, or which can thereafter be paid
without penalty, or which are being contested in good faith by appropriate proceedings; 
 (ix) Liens consisting of easements, rights-of-way, zoning restrictions, restrictions on the use of real property, and defects and irregularities in the title thereto, landlords’ Liens and other similar
Liens and encumbrances none of which interfere materially with the use of the property covered thereby in the ordinary course of the business of Parent or such Restricted Subsidiary and which do not, in the opinion of Parent, materially detract from
the value of such properties; 
 (x) Liens existing on the first date on which the Securities of that series are authenticated; 

(xi) Liens arising solely by virtue of any statutory or common law provision relating to banker’s Liens, rights of setoff or similar
rights and remedies as to deposit accounts or other funds maintained with a creditor depository institution; provided that (i) such deposit account is not a dedicated cash collateral account and is not subject to restrictions against
access by Parent or the applicable Restricted Subsidiary in excess of those set forth by regulations promulgated by the Federal Reserve Board and (ii) such deposit account is not intended to provide collateral to the depository institution; or

 (xii) any extension, renewal or replacement (or successive extensions, removals or replacements) as a whole or in part, of any Lien
referred to in the foregoing clauses (i) to (xi), inclusive; provided that (i) such extension, renewal or replacement Lien shall be limited to all or a part of the same property, shares of stock or Debt that secured the Lien
extended, renewed or replaced (plus improvements on such property) and (ii) the Debt secured by such Lien at such time is not increased. 

Section 10.07 Limitation on Sale and Leaseback Transactions. 

  
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 Parent will not, and will not permit any Restricted Subsidiary to, enter into any Sale and
Leaseback Transaction with respect to any Principal Property unless: 
 (a) Parent or the Restricted Subsidiary would be entitled to,
without equally and ratably securing the Securities of that series to Incur Debt secured by a Lien on such property pursuant to Section 10.06, or 

(b) Parent or a Subsidiary, within 360 days after such transaction, applies an amount not less than the net proceeds of the sale of the
Principal Property leased pursuant to such arrangement to (x) the retirement of its Funded Debt; provided that the amount to be applied to the retirement of Funded Debt of Parent shall be reduced by the principal amount of any Securities
of such series delivered within 360 days after such sale to the Trustee for retirement and cancellation, and the principal amount of Funded Debt, other than Securities, voluntarily retired by Parent within 360 days after such sale or (y) the
purchase, construction or development of other property, facilities or equipment used or useful in Parent’s or a Restricted Subsidiary’s business; provided, further, that: 

(i) no such retirement may be effected by payment at maturity or pursuant to any mandatory sinking fund payment or mandatory prepayment
provision; 
 (ii) no such restriction will apply to a Sale and Leaseback Transaction between Parent and a Restricted Subsidiary or
between Restricted Subsidiaries or involving the taking back of a lease for a period of less than three years; and 
 (iii) Parent or
any Restricted Subsidiary may enter into a Sale and Leaseback Transaction if, on the date of such transaction, after giving effect thereto and to the retirement of any Funded Debt that is concurrently being retired, the aggregate amount of all
Attributable Debt in respect of Sale and Leaseback Transactions existing at such time (other than Sale and Leaseback Transactions otherwise permitted under this Section 10.07), together with the aggregate amount of all outstanding Debt incurred
pursuant to the first proviso of Section 10.06(a), does not at such time exceed 20% of Consolidated Net Tangible Assets of Parent. 

Section 10.08 Waiver of Certain Covenants. 

Except as otherwise specified as contemplated by Section 3.01 for Securities of such series, the Company and/or any Guarantor, as
applicable, may, with respect to the Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Sections 3.01(r), 9.01(b) or 9.01(g) for the benefit of the
Holders of such series and in Sections 10.06 or 10.07 if before the time for such compliance the Holders of not less than 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 term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall
become effective, the obligations of the Company and/or such Guarantor, as applicable, and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

  
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 ARTICLE 11 

REDEMPTION OF SECURITIES 
 Section
11.01 Applicability of Article. 
 Securities of any series which are redeemable before their Stated Maturity shall be
redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 3.01 for such Securities) in accordance with this Article. 

Section 11.02 Election To Redeem; Notice to Trustee. 

The election of the Company to redeem any Securities shall be evidenced by a Board Resolution or in another manner specified as contemplated
by Section 3.01 for such Securities. In case of any redemption at the election of the Company of less than all the Securities of any series (including any such redemption affecting only a single Security), the Company shall, at least 40 days
prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the principal amount of Securities of such series to be redeemed, and, if applicable, of
the tenor of the Securities 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 evidencing compliance with such restriction. 
 Section 11.03 Selection by Trustee of
Securities To Be Redeemed. 
 If less than all the Securities of any series are to be redeemed (unless all the Securities of such series
and of a specified tenor are to be redeemed or unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 10 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 which 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 an authorized 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 10 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 redemption as aforesaid and, in case of any Securities
selected for partial redemption as aforesaid, the principal amount thereof to be redeemed. 
 The provisions of the two preceding paragraphs
shall not apply with respect to any redemption affecting only a single Security, whether such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security
shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. 

  
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 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 Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 

Section 11.04 Notice of Redemption. 

Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior to the
Redemption Date, to each Holder of Securities to be redeemed, at his address appearing in the Security Register. An Officer’s Certificate specifying the actual redemption price must be sent to the Trustee no later than five Business Days prior
to the redemption date. 
 All notices of redemption shall state: 

(a) the Redemption Date, 

(b) the calculation of the Redemption Price, including the portion thereof representing any accrued interest; 

(c) if less than all the Outstanding Securities of any series consisting of more than a single Security are to be redeemed, the
identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series consisting of a single Security are to
be redeemed, the principal amount of the particular Security to be redeemed, 
 (d) that on the Redemption Date the Redemption Price
will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date, 

(e) the place or places where each such Security is 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
written request, by the Trustee in the name and at the expense of the Company. 
 Section 11.05 Deposit of Redemption Price.

 Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own
Paying Agent, segregate and hold in trust as provided in Section 10.03) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest on, all the Securities
which are to be redeemed on that date. 
 Section 11.06 Securities Payable on Redemption Date. 

  
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 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on
the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear
interest. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with accrued 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. 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium shall, until
paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
 Section 11.07 Securities Redeemed
in Part. 
 Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company
or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute
and each Guarantor shall execute any Note Guarantee thereon, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized
denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 

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 is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of such Securities is herein referred to as an “optional sinking fund
payment”. If provided for by the terms of any Securities, 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 of Securities as
provided for by the terms of such Securities. 
 Section 12.02 Satisfaction of Sinking Fund Payments with Securities. 

  
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 The Company (a) may deliver Outstanding Securities of a series (other than any previously
called for redemption) and (b) may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund
payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of such Securities as and to the
extent provided for by the terms of such Securities; 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, 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 45 days prior to each sinking fund payment date for any 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 the terms of such Securities, the portion thereof, if any, which is to be satisfied by payment of cash 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. Not less than 30 days prior to each such sinking fund payment date, 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 Sections 11.06 and 11.07. 

ARTICLE 13 
 DEFEASANCE AND
COVENANT DEFEASANCE 
 Section 13.01 Company’s Option To Effect Defeasance or Covenant Defeasance. 

The Company may elect, at its option at any time, to have Section 13.02 or Section 13.03 applied to any Securities or any series of
Securities, as the case may be, designated pursuant to Section 3.01 as being defeasible pursuant to such Section 13.02 or 13.03, in accordance with any applicable requirements provided pursuant to Section 3.01 and upon compliance with
the conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 3.01 for such Securities. 

Section 13.02 Defeasance and Discharge. 

Upon the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the
case may be, the Company shall be deemed to have been discharged from its obligations with respect to such Securities as provided in this Section on and after the date the conditions set forth in Section 13.04 are satisfied (hereinafter called
“Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and to have satisfied all its other obligations under such
Securities and this Indenture insofar as such 

  
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Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise
terminated or discharged hereunder: (a) the rights of Holders of such Securities to receive, solely from the trust fund described in Section 13.04 and as more fully set forth in such Section, payments in respect of the principal of and any
premium and interest on such Securities when payments are due, (b) the Company’s obligations with respect to such Securities under Sections 3.04, 3.05, 3.06, 10.02 and 10.03, (c) the rights, powers, trusts, duties and immunities of the
Trustee hereunder and (d) this Article. Subject to compliance with this Article, the Company may exercise its option (if any) to have this Section applied to any Securities notwithstanding the prior exercise of its option (if any) to have
Section 13.03 applied to such Securities. 
 Section 13.03 Covenant Defeasance. 

Upon the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the
case may be, (a) the Company shall be released from its obligations under Section 8.01, Sections 10.04 through 10.08, inclusive, and any covenants provided pursuant to Sections 3.01(s), 9.01(b) or 9.01(g) for the benefit of the Holders of
such Securities, and (b) the occurrence of any event specified in Section 5.01(e) (with respect to any of Section 8.01, Sections 10.04 through Section 10.08, inclusive, and any such covenants provided pursuant to Sections 3.01(s),
9.01(b) or 9.01(g)), and Sections 5.01(e) through 5.01(i) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities as provided in this Section on and after the date the conditions set forth in
Section 13.04 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit to comply with and shall have no liability in
respect of any term, condition or limitation set forth in any such specified Section (to the extent so specified in the case of Section 5.01(d)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by
reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities shall be unaffected thereby. 

Section 13.04 Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to the application of Section 13.02 or Section 13.03 to any Securities or any series of
Securities, as the case may be: 
 (a) The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or
another trustee which satisfies the requirements contemplated by Section 6.09 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of making the following payments, specifically
pledged as security for, and dedicated solely to, the benefits of the Holders of such Securities, (i) money in an amount, or (ii) U.S. Government Obligations (or Foreign Governmental Obligations, in the case of Securities denominated in a
currency other than U.S. dollars) which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or
(iii) a combination thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall
be applied by the Trustee (or any such other qualifying trustee) to pay 

  
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and discharge, (A) the principal of and any premium and interest on such Securities on the respective Stated Maturities and (B) any mandatory sinking fund payments or analogous payments
applicable to the Outstanding Securities of such series on the day on which such payments are due and payable, in accordance with the terms of this Indenture and such Securities. As used herein, “U.S. Government Obligation” means
(x) any security which is (i) a direct obligation of the United States of America for the payment of which the full faith and credit of the United States of America is pledged or (ii) an obligation of a Person controlled or supervised
by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case (i) or (ii), is not
callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any U.S. Government Obligation which is specified in
Clause (x) above and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so specified and held; provided
that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or
the specific payment of principal or interest evidenced by such depositary receipt. As used herein, “Foreign Government Obligation” means, in relation to Securities denominated in a currency other than U.S. dollars, (x) any
security which is (i) a direct obligation of the government that issued such currency for the payment of which full faith and credit of such government is pledged or, with respect to Securities of any series which are denominated in euro, a
direct obligation of any member nation of the European Union for the payment of which obligation the full faith and credit of the respective nation is pledged so long as such nation has a credit rating at least equal to that of the highest rated
member nation of the European Economic Area or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality for such government, the payment of which is unconditionally guaranteed as a full faith and
credit obligation by such government, which, in either case of (i) or (ii), are not callable or redeemable at the option of the issuer thereof and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities
Act) as custodian with respect to any Foreign Government Obligation which is specified in clause (x) above and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of principal of
or interest on any Foreign Government Obligation which is so specified and held; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt
from any amount received by the custodian in respect of the Foreign Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt. 

(b) In the event of an election to have Section 13.02 apply to any Securities or any series of Securities, as the case may be, the
Company shall have delivered to the Trustee an Opinion of Counsel stating that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (ii) since the date of this instrument, there has
been a change in the applicable federal income tax law, in either case (i) or (ii) to the effect that, and based thereon such opinion shall confirm that, the Holders of such Securities will not recognize gain or loss for federal income tax
purposes as a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit,
Defeasance and discharge were not to occur. 

  
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 (c) In the event of an election to have Section 13.03 apply to any Securities or any
series of Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for federal income tax purposes as a result of the
deposit and Covenant Defeasance to be effected with respect to such Securities and will be subject to federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were
not to occur. 
 (d) Such Defeasance or Covenant Defeasance shall not cause any Securities of such series then listed on any registered
national securities exchange under the Exchange Act, to be delisted. 
 (e) No event which is, or after notice or lapse of time or both
would become, an Event of Default with respect to such Securities shall have occurred and be continuing at the time of such deposit or, with regard to any such event specified in Sections 5.01(i) and (j), at any time on or prior to the 90th day
after the date of such deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day). 

(f) Such Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting interest as defined in Section 6.08 and
within the meaning of the Trust Indenture Act (assuming all Securities are in default within the meaning of such Act). 
 (g) Such
Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any other agreement or instrument to which the Company is a party or by which it is bound. 

(h) Such Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit constituting an investment company
within the meaning of the Investment Company Act unless such trust shall be registered under such Act or exempt from registration thereunder. 

(i) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 
 Section 13.05 Deposited
Money and U.S. Government Obligations and Foreign Government Obligations To Be Held in Trust; Miscellaneous Provisions. 
 Subject to
the provisions of the last paragraph of Section 10.03, all money, U.S. Government Obligations and Foreign Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of
this Section and Section 13.06, the Trustee and any such other trustee are referred to collectively as the “Trustee”) pursuant to Section 13.04 in respect of any Securities shall be held in trust and applied by the
Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any such Paying Agent (including the Company acting as 

  
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its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, but money so
held in trust need not be segregated from other funds except to the extent required by law. 
 The Company shall pay and indemnify the
Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations or Foreign Government Obligations deposited pursuant to Section 13.04 or the principal and interest received in respect thereof other
than any such tax, fee or other charge which by law is for the account of the Holders of Outstanding Securities. 
 Anything in this Article
to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations or Foreign Government Obligations held by it as provided in Section 13.04 with
respect to any Securities which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required
to be deposited to effect the Defeasance or Covenant Defeasance, as the case may be, with respect to such Securities. 
 Section
13.06 Reinstatement. 
 If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with
respect to any Securities by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities from which the
Company has been discharged or released pursuant to Section 13.02 or 13.03 shall be revived and reinstated as though no deposit had occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying
Agent is permitted to apply all money held in trust pursuant to Section 13.05 with respect to such Securities in accordance with this Article; provided, however, that if the Company makes any payment of principal of or any premium
or interest on any such Security following such reinstatement of its obligations, the Company shall be subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money so held in trust. 

ARTICLE 14 
 GUARANTEES 

Section 14.01 Note Guarantee. 

(a) Subject to this Article 14, each Guarantor hereby, jointly and severally, fully and unconditionally guarantees, on a senior basis, to
each Holder and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Securities or the obligations of the Company hereunder or thereunder, that: the principal of and premium, if any,
and interest on the Securities shall be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Securities, if any, if lawful, and all other
obligations of the Company to the Holders or the Trustee hereunder or thereunder shall be promptly paid in full or performed, all in 

  
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accordance with the terms hereof and thereof. Failing payment by the Company when due of any amount so guaranteed or any performance so guaranteed for whatever reason, each Guarantor shall be
jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee of collection. 

(b) Each Guarantor hereby agrees that its obligations hereunder shall be unconditional, irrespective of the validity, regularity or
enforceability of the Securities or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to
enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event
of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants that this Note Guarantee shall not be discharged except by complete performance of the
obligations contained in the Securities and this Indenture, or pursuant to Section 14.06. 
 (c) If any Holder or the Trustee is
required by any court or otherwise to return to the Company, the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to the Company or the Guarantors, any amount paid either to the Trustee or such Holder,
this Note Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 
 (d) Each Guarantor agrees
that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the
Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed hereby may be accelerated as provided in Section 5.02 for the purposes of this Note Guarantee, notwithstanding
any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such obligations as provided in Section 5.02, such
obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantors for the purpose of this Note Guarantee. The Guarantors shall have the right to seek contribution from any
non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders under the Note Guarantees. 

(e) Each Note Guarantee shall remain in full force and effect and continue to be effective should any petition be filed by or against the
Company for liquidation, reorganization, should the Company become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any significant part of the Company’s assets, and shall, to
the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Securities are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be
restored or returned by any obligee on the Securities or the Note Guarantees, whether as a “voidable preference,” “fraudulent transfer” or otherwise, all as though such payment or performance had not been made. In the event that
any payment or any part thereof, is rescinded, reduced, restored or returned, the Securities shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or
returned. 

  
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 (f) In case any provision of any Note Guarantee 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. 
 (g) Each
payment to be made by a Guarantor in respect of its Note Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. 

Section 14.02 Limitation on Guarantor Liability. 

Each Guarantor, and by its acceptance of Securities, each Holder, hereby confirms that it is the intention of all such parties that the Note
Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Debtor Relief Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar U.S. federal or state law or law of such
Guarantor’s jurisdiction of organization to the extent applicable to any Note Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of each Guarantor shall be
limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws and after giving effect to any collections from, rights to receive
contribution from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under this Article 14, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent
conveyance or fraudulent transfer under applicable law. Each Guarantor that makes a payment under its Note Guarantee shall be entitled upon payment in full of all Note Guarantee obligations under this Indenture to a contribution from each other
Guarantor in an amount equal to such other Guarantor’s pro rata portion of such payment based on the respective net assets of all the Guarantors at the time of such payment determined in accordance with generally accepted accounting
principles. 
 Section 14.03 Execution and Delivery. 

(a) To evidence its Note Guarantee set forth in Section 14.01, at the time a series of Securities is executed and delivered, each
Guarantor shall execute a notation of Guarantee substantially in the form set forth in Section 2.07 of Exhibit A hereto, with such modifications as may be deemed necessary by the Company and such Guarantor, on behalf of such Guarantor by an
officer or person holding an equivalent title. 
 (b) Each Guarantor agrees that its Note Guarantee set forth in Section 14.01
shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Note Guarantee on the Securities. 

(c) If an officer whose signature is on this Indenture or a supplemental indenture no longer holds that office at the time the Trustee
authenticates the Security, the Note Guarantees shall be valid nevertheless. 

  
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 (d) The delivery of any Security by the Trustee, after the authentication thereof hereunder,
shall constitute due delivery of the Note Guarantee set forth in this Indenture on behalf of the Guarantors. 
 Section
14.04 Subrogation. 
 Each Guarantor shall be subrogated to all rights of Holders against the Company in respect of any amounts
paid by any Guarantor pursuant to the provisions of Section 14.01; provided that, if an Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any payments arising out of, or based upon,
such right of subrogation until all amounts then due and payable by the Company under this Indenture or the Securities shall have been paid in full. 

Section 14.05 Benefits Acknowledged. 

Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Indenture
and that the guarantee and waivers made by it pursuant to its Note Guarantee are knowingly made in contemplation of such benefits. 

Section 14.06 Release of Note Guarantees. 

(a) A Note Guarantee by a Guarantor shall be automatically and unconditionally released and discharged, and such Note Guarantee shall
thereupon terminate and be discharged and of no further force and effect, and no further action by such Guarantor, the Company or the Trustee shall be required for the release of such Guarantor’s Note Guarantee: 

(1) (A) upon the merger or consolidation of such Guarantor with and into either the Company or any other Guarantor that is the surviving
person in such merger or consolidation, or upon the liquidation of such Guarantor following or concurrently with the transfer of all or substantially all of its assets to either the Company or another Guarantor (and, if applicable, any minority
stockholders of such Guarantor on a pro rata basis according to their ownership interests in such Guarantor); or 
 (B) upon the
Company exercising its legal defeasance or covenant defeasance options in accordance with Article 13 or the Company’s obligations under this Indenture being discharged in accordance with the terms of this Indenture and the Securities; or 

(C) the release or extinguishment of the guarantee by such Guarantor of Debt under all outstanding Guaranteed Bonds, including the
release or extinguishment of such guarantee as a result of the maturity, repayment, retirement, replacement or refinancing of such outstanding Guaranteed Bonds (which release may be simultaneous with the release of the Note Guarantee hereunder);
provided, that no Event of Default has occurred and is continuing; and 
 (2) such Guarantor delivering to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for in this Indenture relating to such transaction have been complied with. 

  
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 (b) At the written request and expense of the Company or the relevant Guarantor, the Trustee
shall execute and deliver such documents prepared by the Company or such Guarantor and reasonably required in order to acknowledge such release, discharge and termination in respect of the applicable Note Guarantee. Neither the Company nor any
Guarantor shall be required to make a notation on the Securities to reflect any Note Guarantee or any such release, termination or discharge. 

Section 14.07 Guarantors May Consolidate, Etc., Only on Certain Terms; Successor Substituted. 

(a) No Guarantor shall, in any transaction or series of transactions, consolidate with or merge into any other Person, or sell, assign,
convey, transfer, lease or otherwise dispose of all or substantially all of its assets to any other Person, unless: 
 (i) either:
(1) such Guarantor shall be the continuing Person; or (2) the Person (if other than such Guarantor), formed by such consolidation or into which the Company is merged, or the Person that acquires, by sale, assignment, conveyance, transfer,
lease or other disposition, all or substantially all of the assets of such Guarantor, shall (A) be a corporation, partnership, limited liability company, trust or similar entity organized and validly existing under the laws of the United States
of America, any state or political subdivision thereof, the District of Columbia, the United Kingdom or any member country of the European Union and (B) expressly assume, by a supplemental indenture, in form reasonably satisfactory to the
Trustee, all obligations of such Guarantor under this Indenture and performance or observance of every covenant of this Indenture on the part of such Guarantor to be performed or observed; 

(ii) immediately after giving effect to such transaction (including the Incurrence of any Debt in connection with such transaction or
series of transactions), no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have occurred and be continuing (provided, that for the avoidance of doubt, Debt of Parent or any
Restricted Subsidiary Incurred prior to such transaction which is assumed by Parent or any Restricted Subsidiary or the Person assuming such Guarantor’s obligations hereunder in connection with such transaction shall be deemed not to be a
separate incurrence of Debt); 
 (iii) if, as a result of any such consolidation or merger or such conveyance, transfer or lease,
properties or assets of a Guarantor would become subject to a mortgage, pledge, lien, security interest or other encumbrance which would not be permitted by this Indenture, such Guarantor or such successor Person, as the case may be, shall take such
steps as shall be necessary effectively to secure the Securities equally and ratably with (or prior to) all indebtedness secured thereby; and 

(iv) such Guarantor shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such
consolidation, merger, sale, conveyance, assignment, transfer, lease or other disposition and such supplemental indenture comply with the requirements of this Indenture. 

  
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 (b) Notwithstanding the foregoing, the provisions of this Section 14.07 shall not apply
to any consolidation, merger, sale, conveyance, assignment, transfer, lease or other disposition of assets between or among a Guarantor and Parent and/or any other Restricted Subsidiary, as the case may be. 

(c) Upon any consolidation of a Guarantor with, or merger of a Guarantor into, any other Person or any conveyance, transfer or lease of
substantially all of the assets of a Guarantor in accordance with Section 14.07(a), the successor Person formed by such consolidation or into which such Guarantor 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, such Guarantor under this Indenture with the same effect as if such successor Person had been named as such Guarantor herein, and thereafter, except in the case of a lease, the
predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 Section
14.08 Subordination of Note Guarantee. The obligations of each Guarantor under its Guarantee pursuant to this Article 14 will be junior and subordinated to the Senior Debt of such Guarantor on the same basis as the Securities are junior
and subordinated to Senior Debt of the Company. For the purposes of the foregoing sentence, the Trustee and the Holders will have the right to receive and/or retain payments by any of the Guarantors only at such times as they may receive and/or
retain payments in respect of the Securities pursuant to this Indenture, including Article 14 hereof. 
 ARTICLE 15 

SUBORDINATION OF SECURITIES 

Section 15.01 Agreement of Subordination. The Company covenants and agrees, and each Holder by its acceptance thereof likewise
covenants and agrees, that all Securities shall be issued subject to the provisions of this Article 15; and each holder of Securities issued hereunder, whether upon original issue or upon transfer or assignment thereof, accepts and agrees to be
bound by such provisions. 
 The payment 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 subject in right of payment to the prior payment in full of all Senior Debt of the Company, whether outstanding at the date of this Indenture or thereafter incurred. 

The provisions of this Article 15 define the subordination of the Securities, as obligations of the Company, with respect to Senior Debt of
the Company. No provision of this Article 15 shall prevent the occurrence of any default or Event of Default hereunder. 
 Section
15.02 Payments to Holders. In the event and during the continuation of any default in the payment of principal, premium (if any), interest or any other payment due on any Senior Debt of the Company continuing beyond the period of grace,
if any, specified in the instrument or lease evidencing such Senior Debt of the Company, then, unless and until such default shall have been cured or waived or shall have ceased to exist, no payment shall be made by the Company with respect to the
principal of or interest on the Securities from monies deposited with the Trustee pursuant thereto prior to the happening of such default. 

  
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 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 or to become due upon all Senior Debt 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 on
account of the principal of, premium (if any) or interest on the Securities (except payments made pursuant to Article 4 hereof from monies deposited with the Trustee pursuant thereto prior to the occurrence of such dissolution, winding-up, liquidation or reorganization); and upon any such dissolution or winding-up or liquidation or reorganization any payment by the Company, or 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, except for the provisions of this Article 15, shall (except as aforesaid) 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 Debt of the Company (pro rata to such holders on the basis of the respective amounts of Senior Debt of the Company 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 any Senior Debt of the Company may have been issued, as their respective interests may appear, to the extent necessary to pay all Senior Debt of the Company in full, in money
or money’s worth, after giving effect to any concurrent payment or distribution to or for the holders of Senior Debt of the Company, before any payment or distribution is made to the holders of the 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 or the holders of the Securities before all Senior Debt 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 holders of Senior Debt of the Company or their representative or representatives, or to the trustee or trustees under any
indenture pursuant to which any instruments evidencing any Senior Debt of the Company may have been issued, as their respective interests may appear, as calculated by the Company, for application to the payment of all Senior Debt of the Company
remaining unpaid to the extent necessary to pay all Senior Debt of the Company in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the holders of such Senior Debt. 

For purposes of this Article 15, 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 15 with respect to
the Securities to the payment of all Senior Debt of the Company which may at the time be outstanding; provided that (i) the Senior Debt of the Company is assumed by the new Person, if any, resulting from any such reorganization or
readjustment, and (ii) the rights of the holders of the Senior Debt of the Company (other than leases) and of leases which are assumed are not, without the consent of such holders, altered by such reorganization or readjustment. 

  
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 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 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 15.02 if such other Person shall, as a part of such consolidation, merger, conveyance or transfer, comply with the
conditions stated in Article 8 hereof. 
 Section 15.03 Subrogation of Securities. Subject to the payment in full of all Senior
Debt of the Company, the rights of the holders of the Securities shall be subrogated to the rights of the holders of Senior Debt of the Company to receive payments or distributions of cash, property or securities of the Company applicable to the
Senior Debt of the Company until the principal of, 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 or for the benefit of the holders of the Senior Debt
of the Company or the Trustee 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 15, shall, as between the Company, its creditors other than holders
of Senior Debt of the Company, and the holders of the Securities, be deemed to be a payment by the Company to or on account of the Senior Debt of the Company. It is understood that the provisions of this Article 15 are and are intended solely for
the purpose of defining the relative rights of the holders of the Securities, on the one hand, and the holders of the Senior Debt of the Company, on the other hand. 

Nothing contained in this Article 15 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 its Senior Debt, 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 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 other than the holders of its Senior
Debt, 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 this Indenture, subject to the rights, if any, under this Article 15
of the holders of Senior Debt of the Company in respect of cash, property or securities of the Company received upon the exercise of any such remedy. 

Upon any payment or distribution of assets of the Company referred to in this Article 15, the Trustee, subject to the provisions of
Section 6.01, and the holders of the Securities shall be entitled to 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, liquidating trustee, agent or other Person making such payment or distribution, delivered to the Trustee or to the holders of the Securities, for the
purpose of ascertaining the Persons entitled to participate in such distribution, the holders of the Senior Debt 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 15. 

  
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 Section 15.04 Authorization by Holder. Each holder of a Security by its acceptance
thereof authorizes and directs the Trustee on its behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article 15 appoints the Trustee its attorney-in-fact for any and all such purposes. 
 Section 15.05 Notice to Trustee. The
Company shall give promptly written notice to a Responsible Officer of the Trustee of any fact known to the Company which 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 15. Notwithstanding the provisions of this Article 15 or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which 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 15, unless and until a Responsible Officer of the Trustee shall have received written notice thereof at the Corporate Trust Office of the Trustee from the
Company or a holder or holders of Senior Debt of the Company 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 that if on a date not fewer than three Business Days prior to the date upon which by the terms hereof any such monies may become payable for any purpose (including, without limitation, the payment of the
principal of or interest on any Security) the Trustee shall not have received, with respect to such monies, the notice provided for in this Section 15.05, then, anything herein contained to the contrary notwithstanding, the Trustee shall have
full power and authority to receive such monies and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such prior date. 

The Trustee conclusively shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder
of Senior Debt of the Company (or a trustee on behalf of such holder) to establish that such notice has been given by a holder of Senior Debt of the Company 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 Senior Debt of the Company to participate in any payment or distribution pursuant to this Article 15, the Trustee may request such
Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Debt of the Company 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 15, 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 15.06 Trustee’s Relation to Senior Debt. The Trustee in its individual capacity shall be entitled to
all the rights set forth in this Article 15 in respect of any Senior Debt of the Company at any time held by it, to the same extent as any other holder of Senior Debt of the Company and nothing elsewhere in this Indenture shall deprive the Trustee
of any of its rights as such holder. 
 With respect to the holders of Senior Debt 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 15, and no implied covenants or obligations with respect to the holders of Senior 

  
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Debt of the Company shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt of the Company and the Trustee
shall not be liable to any holder of Senior Debt of the Company 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 Senior Debt of the Company shall be entitled by virtue
of this Article 15 or otherwise. 
 Section 15.07 No Impairment of Subordination. No right of any present or future holder of
any Senior Debt 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 or by any act or failure to act, in good faith, by any such
holder, or by any noncompliance by the Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charged with. 

Section 15.08 Rights of Trustee. Nothing in this Article 15 shall apply to claims of or payments to, the Trustee pursuant to
Section 6.03. 
 ARTICLE 16 

ADDITIONAL AMOUNTS; CERTAIN TAX PROVISIONS 

Section 16.01 Redemption Upon Changes in Withholding Taxes. 

Unless otherwise provided pursuant to Section 3.01, the Securities of any series may be redeemed, as a whole but not in part, at the
option of the Company, upon not less than 30 nor more than 60 days’ notice (which notice shall be irrevocable), at a redemption price equal to 100% of the principal amount thereof, together with accrued interest, if any, to the redemption date
and Additional Amounts (as defined in Section 16.02), if any, if as a result of any amendment to, or change in, the laws, regulations, rulings or treaties of Luxembourg, the United States or other jurisdiction in which the Company or any
Guarantor or, in each case, any successor thereof (including a continuing Person formed by a consolidation with the Company or any Guarantor, into which the Company or such Guarantor is merged, or that acquires or leases all or substantially all of
the property and assets of the Company or such Guarantor) may be organized, as applicable, or any political subdivision thereof or therein having the power to tax (a “Taxing Jurisdiction”), or any change in the application or
official interpretation of such laws, regulations, rulings or treaties, including any action taken by, or change in the published administrative practice of, a taxing authority or a holding by a court of competent jurisdiction (regardless of whether
such action, change or holding is with respect to the Company or a Guarantor), which amendment or change is announced or becomes effective on or after the date the Securities of such series are issued, the Company or such Guarantor has become, or
there is a material probability that it will become, obligated to pay Additional Amounts on the next date on which any amount would be payable with respect to the Securities of such series, and such obligation cannot be avoided by the use of
commercially reasonable measures available to the Company or such Guarantor, as the case may be, not including substitution of the obligor on the Securities; provided, however, that no such notice of redemption may be given earlier
than 60 days prior to the earliest date on which the Company or any Guarantor, as the case may be, would be obligated, or there is a material probability the Company or Guarantor would otherwise be obligated, to pay such Additional Amount. Prior to
the publication or, where relevant, mailing (and/or to the extent permitted by applicable procedures or regulations, electronic 

  
 76 

 
delivery) of any notice of redemption described in this paragraph, the Company shall deliver to the Trustee (i)(A) an Officer’s Certificate of the Company stating that the obligation to pay
Additional Amounts cannot be avoided by the Company taking commercially reasonable measures available to it or (B) an Officer’s Certificate of the applicable Guarantor stating that the obligation to pay Additional Amounts cannot be avoided
by such Guarantor taking commercially reasonable measures available to it, as the case may be, as described above, and (ii) a written opinion of independent tax counsel to the Company or the applicable Guarantor, as the case may be, of
recognized standing to the effect that the Company or the applicable Guarantor, as the case may be, has or there is a material probability that it will become obligated to pay Additional Amounts as a result of a change, amendment, official
interpretation or application described above and that the Company or the applicable Guarantor, as the case may be, cannot avoid the payment of such Additional Amounts by taking commercially reasonable measures available to it as described above.

 Section 16.02 Payment of Additional Amounts. 

All payments made by the Company or any Guarantor under or with respect to the Securities and any Note Guarantee will be made free and clear
of and without withholding or deduction for or on account of any present or future taxes, duties, levies, imposts, assessments or governmental charges of whatever nature imposed or levied by or on behalf of any Taxing Jurisdiction
(“Taxes”), unless the Company or any Guarantor, as the case may be, is required to withhold or deduct Taxes by law or by the interpretation or administration thereof. In the event that the Company or any Guarantor is required to so
withhold or deduct any amount for or on account of any Taxes from any payment made under or with respect to the Securities or the Note Guarantee, as the case may be, the Company or the applicable Guarantor, as the case may be, will pay such
additional amounts (“Additional Amounts”) as may be necessary so that the net amount received by each holder of Securities (including Additional Amounts) after such withholding or deduction will equal the amount that such Holder
would have received if such Taxes had not been required to be withheld or deducted; provided that no Additional Amounts will be payable with respect to a payment to a holder of Securities or a holder of beneficial interests in Global
Securities where such holder is subject to taxation on such payment by a relevant Taxing Jurisdiction for any reason other than such holder’s mere ownership of the Securities or for or on account of: 

(a) any Taxes that are imposed or withheld solely because such holder (or the beneficial owner for whose benefit such holder holds such
Securities) or a fiduciary, settlor, beneficiary, member, shareholder or other equity owner of, or possessor of a power over, such holder (or beneficial owner) if such holder (or beneficial owner) is an estate, trust, partnership, limited liability
company, corporation or other entity: 
 (1) is or was present or engaged in, or is or was treated as present or engaged in,
a trade or business in the Taxing Jurisdiction or has or had a permanent establishment in the Taxing Jurisdiction (in each case, other than the mere fact of ownership of such Securities, without another presence or business in such Taxing
Jurisdiction); 
 (2) has or had any present or former connection (other than the mere fact of ownership of such Securities)
with the Taxing Jurisdiction imposing such Taxes, 

  
 77 

 
including being or having been a national citizen or resident thereof, being treated as being or having been a resident thereof or being or having been physically present therein; 

(3) with respect to any withholding Taxes imposed by the United States, is or was with respect to the United States a personal
holding company, a passive foreign investment company, a controlled foreign corporation, a foreign private foundation or other foreign tax exempt organization or corporation that has accumulated earnings to avoid United States federal income tax;

 (4) actually or constructively owns or owned 10% or more of the total combined voting power of all classes of stock of the
Company or the applicable Guarantor within the meaning of Section 871(h)(3) of the Code; or 
 (5) is or was a bank receiving
payments on an extension of credit made pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3) of the Code. 

(b) any estate, inheritance, gift, sales, transfer, excise, personal property or similar Taxes imposed with respect to the Securities,
except as otherwise provided herein; 
 (c) any Taxes imposed solely as a result of the presentation of such Securities (where
presentation is required) for payment on a date more than 15 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever is later, except to the extent that the beneficiary or
holder thereof would have been entitled to the payment of Additional Amounts had the Securities been presented for payment on any date during such 15-day period; 

(d) any Taxes imposed or withheld solely as a result of the failure of such holder or any other person to comply with applicable
certification, information, documentation or other reporting requirements concerning the nationality, residence, identity or connection with the Taxing Jurisdiction of such holder, if such compliance is required by statute, regulation, ruling or
administrative practice of the relevant Taxing Jurisdiction or by any applicable tax treaty to which the relevant Taxing Jurisdiction is a party as a precondition to relief or exemption from such Taxes; 

(e) with respect to withholding Taxes imposed by the United States, any such Taxes imposed by reason of the failure of such holder to
fulfill the statement requirements of sections 871(h) or 881(c) of the Code; 
 (f) any Taxes that are payable by any method other than
withholding or deduction by the Company or a Guarantor or any paying agent from payments in respect of such Securities; 
 (g) any
Taxes required to be withheld by any paying agent from any payment in respect of any Securities if such payment can be made without such withholding by at least one other paying agent; 

  
 78 

 (h) any withholding or deduction for Taxes which would not have been imposed if the relevant
Securities had been presented to another paying agent in a country that is a member of the European Union as of the date of this Indenture; 

(i) any withholding or deduction required pursuant to sections 1471 through 1474 of the Code, any regulations or agreements thereunder,
official interpretations thereof, any intergovernmental agreement, or any law, rule, guidance or administrative practice implementing an intergovernmental agreement entered into in connection with such sections of the Code or; 

(j) any combination of Section 16.02(a), (b), (c), (d), (e), (f), (g), (h) or (i). 

Additional Amounts also will not be payable to any Holder or the holder of a beneficial interest in a Global Security that is a fiduciary,
partnership, limited liability company or other fiscally transparent entity, or to such holder that is not the sole Holder or holder of such beneficial interests of such Security, as the case may be. This exception, however, will apply only to the
extent that a beneficiary or settlor with respect to the fiduciary, or a beneficial owner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been entitled to the payment of an Additional
Amount had the beneficiary, settlor, beneficial owner or member received directly its beneficial or distributive share of the payment. 

The Company or the applicable Guarantor, as the case may be, will also (i) make such withholding or deduction of Taxes and
(ii) remit the full amount of Taxes so deducted or withheld to the relevant Taxing Jurisdiction in accordance with all applicable laws. The Company or the applicable Guarantor, as the case may be, will use its commercially reasonable efforts to
obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld from each Taxing Authority imposing such Taxes. The Company or the applicable Guarantor, as the case may be, will, upon request, make available to
the holders of the Securities, within 90 days after the date the payment of any Taxes so deducted or withheld is due pursuant to applicable law, certified copies of tax receipts evidencing such payment by the Company or the applicable Guarantor or
if, notwithstanding the Company’s or the applicable Guarantor’s efforts to obtain such receipts, the same are not obtainable, other evidence of such payments by the Company or the applicable Guarantor. 

At least 30 days prior to each date on which any payment under or with respect to the Securities or the Note Guarantee is due and payable, if
the Company or a Guarantor will be obligated to pay Additional Amounts with respect to such payment, the Company or the applicable Guarantor will deliver to the Trustee an Officers’ Certificate stating the fact that such Additional Amounts will
be payable and the amounts so payable and will set forth such other information as is necessary to enable such Trustee to pay such Additional Amounts to holders of Securities on the payment date. 

In addition, the Company will pay any stamp, issue, registration, documentary or other similar taxes and duties, including interest, penalties
and Additional Amounts with respect thereto, payable in Luxembourg or the United States or any political subdivision or taxing authority of or in the foregoing in respect of the creation, issue, offering, enforcement, redemption or retirement of the
Securities. 

  
 79 

 The provisions of this Article 16 shall survive any termination of the discharge of this
Indenture and shall apply mutatis mutandis to any jurisdiction in which the Company or a Guarantor or any successor Person to the Company or a Guarantor, as the case may be, is organized or is engaged in business for tax purposes or any
political subdivisions or taxing authority or agency thereof or therein; provided, however, the date on which the Company or the applicable Guarantor changes its jurisdiction in which it is organized or such Person becomes a successor
to the Company or the applicable Guarantor, as the case may be, shall be substituted for the date on which the series of Securities was issued. 

Whenever in this Indenture, the Securities or the Note Guarantee there is mentioned, in any context, the payment of principal and premium, if
any, redemption price, interest or any other amount payable under or with respect to any Security, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were
or would be payable in respect thereof. 
 *    *    * 

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. The exchange of copies of this instrument and of signature pages by facsimile or.pdf transmission shall constitute effective execution and delivery of this instrument as to the
parties hereto and may be used in lieu of the original instrument for all purposes. Signatures of the parties hereto transmitted by facsimile or .pdf shall be deemed to be their original signatures for all purposes. 

  
 80 

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

			
	 MEDTRONIC GLOBAL HOLDINGS
 S.C.A.,
as Issuer

		
	By:	 	  

		 	Name:
		 	Title:
	
	 MEDTRONIC PUBLIC LIMITED
 COMPANY,
as Guarantor

		
	By:	 	  

		 	Name:
		 	Title:
	
	MEDTRONIC, INC., as Guarantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	[                    ], as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Indenture] 

  
 81Converted by EDGARwiz

EXHIBIT 10.1

MOBETIZE USA Inc.

SOFTWARE APPLICATION LICENSE, CUSTOMIZATION DEVELOPMENT AND SERVICE

LEVEL AGREEMENT

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT (INDICATED BY

ASTERISKS HAS BEEN OMITTED AND FILED SEPERATELY WITH THE SECURITIES AND

EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT

This   Software   Application   License,   Customization   Development   and   Service   Level   Agreement   (the

“Agreement”)  made  as  of  December  15,  2016  (the  “Effective  Date”)  between  MOBETIZE  USA,  Inc.

(“MOBETIZE”),  having  an  office  at  205-8105  Birch  Bay  Square  Street,  Blaine,  WA  98230,  USA  and  Tata

Communications (America) Inc., a Delaware corporation  with an office at 2355 Dulles Corner Boulevard,

suite   700,   Herndon   VA,   USA,   and   its   Affiliates,     (herein   “   Tata   Communications”   or   “Licensee)   .

MOBETIZE and Licensee herein shall be referred collectively as the “Parties” and individually as a “Party”,

hereby agree as follows:

1.

SCOPE

1.1

Licensee and MOBETIZE desire to enter into this Agreement to govern the provision of software by

MOBETIZE  to  Licensee  in  executable  form  regardless  of  the  form  of  delivery  or  the  media  upon

which  it  is  fixed  as  well  as  any  related  materials  and  documentation.   The  software  to  be  supplied

(the “Software”) and the pricing schedule is set out in Schedule A and may be amended from time to

time by listing any additional software to be licensed to the Licensee by MOBETIZE on an amended

Schedule A signed by the parties.

This Agreement equally governs the Customization Development work (herein the “Customization”)

and  the  Software  Module  Development  that  might  be  required  by  Licensee  from  MOBETIZE,  from

time  to  time  in  accordance  with  the  terms  contained  in  Schedule  D.  For  each  new  Customization

and/or  Software  Module  Development,  requested  by  Licensee,  a  new  Schedule  D  will  be  created

and  added  herein  and  shall  be subject  to all  terms  and conditions  of  this  Agreement, except  where it

conflicts with the Agreement, when then the terms contained in Schedule D shall prevail.

2.

GRANT OF LICENSE OF MOBETIZE SOFTWARE

2.1

MOBETIZE  grants  Licensee  and  its  Affiliates  a  nonexclusive,  revocable  worldwide,  license  to  use

an  executable  copy  of  the  software  product  listed  on  the  attached  Schedule  A  (the  “Software”).

MOBETIZE  shall  deliver  to  Licensee  one  (1)  set  of  the  Software,  in  object  code  form,  which  shall

be installed at the location (Designated Location).

2.2

The  Software  shall  be  used  by  Licensee,  only  in  connection  with  Licensee’s  own  internal  mobile

money  activities.  Further  MOBETIZE  grants  to  Licensee  the  right  to  download,  access,  use,  install,

and  run  the  Software  and  Documentation  for  their  respective  business  purposes  (including  for

providing  managed,  hosted,  white  label,  time  sharing,  service  bureau,  or  any  combination  of  the

foregoing  services  to  their  respective  customers),  including,  but  not  limited  to,  performing  the

foregoing  activities  over  the  Internet  or  any  other  network  (including  using  third  party  cloud  based

resources);  to  and to sub license to customers of Licensee.  The sub licensing shall be governed by a

revenue  share  schedule  as  outlined  in  Schedule  B  between  the  Licensee  and  MOBETIZE.    The

Licensee  is  entitled  to  resell  and  sub  license  the  Software  for  the  delivery of  mobile  money services

for the processing of data relating to mobile money services as described in Schedule A.

Software License Agreement

1

EXHIBIT 10.1

MOBETIZE USA Inc.

2.3

Licensee  may  change  the  Designated  Location  to  another  location  with  prior  written  notice  to

MOBETIZE  and  with  the  prior  written  consent  of  MOBETIZE  not  to  be  unreasonably  withheld  or

delayed.

2.4

Licensee shall not copy the Software, in whole or in part, except for disaster recovery, program error

verification,  and  for  back-up  purposes.   Licensee  shall  maintain  and  furnish  to  MOBETIZE,  upon

reasonable  request,  however  no  more  than  once  every  12  months,  competent  records  of  the  number

and location of all copies of the Software, in whole or in part.

2.5

Licensee  must  maintain  all  proprietary  notices  imposed  by  MOBETIZE  in  the  Software,  including

all  copies  thereof.   Licensee  shall  not,  directly  or  indirectly,  reverse,  assemble,  or  de-compile  the

Software, in whole or in part.

3.

SCOPE OF USE OF MOBETIZE SOFTWARE

3.1

Concurrent  Users  -  The  Software  license  is  a  multi-server  license  and  may  be  accessed  through  an

unlimited  number  of  computers  or  mobile  devices  (mobile  phones  and  tablets)  as  well  as  from

remote locations by designated Licensee users.

3.2.

Backup  –If  the  designated  server  on  which  Licensee  has  installed  Software  is  temporarily  inoperable,

Licensee  may  transfer  the  use  of  the  Software  to  a  backup  computer  system  until  operability  is

restored.

4.

CHARGES AND PAYMENTS

4.1

Under this Agreement, MOBETIZE will provide Software, and Support Services (“Deliverables”) to

Licensee,  all  of  which  Deliverables  are listed in  Schedule A.   MOBETIZE will  also provide support

to  Licensee  under  this  Agreement  as  per  Schedule  C.    All  invoices  for  the  Deliverables  will  be

mailed  to  Licensee  and shall  be  paid by Licensee thirty (30) days upon receipt of  such invoice.   The

charges  for  Professional  Services  listed  in  Schedule  A  (“Professional  Services”),  are  for  the  first

year  of  this  Agreement  and  are  subject  to  agreed  upon  annual  increases.   In  the  event  of  an  annual

increase  of  the  Professional  Service  charges,  MOBETIZE  shall  provide  Licensee  thirty  (30)  days

prior  written  notification  of  the new charges.   All  annual  support  payments, travel  and  out  of  pocket

expenses will be payable thirty (30) days upon invoice by MOBETIZE to Licensee in the manner set

forth  herein.    It  is  hereby  agreed  that  Licensee  will  only  reimburse  MOBETIZE  for  previously

approved travel and out of pocket expenses.

4.2

The   Licensee   shall   pay   all   applicable   sales,   use,   and   excise   taxes,   and   any   other   applicable

assessments  levied  by  authorities  having  jurisdiction  against  the  Licensee  in  the  nature  of  taxes,

duties  or  charges  however  designated  on  the  Software  licensed  to  the  Licensee  hereunder  or  its

license  to  or  use  by  the  Licensee,  pursuant  to  the  terms  of  this  Agreement.   Notwithstanding  the

foregoing, Licensee shall not be responsible for the payment of MOBETIZE’s income taxes.

5.

CONFIDENTIAL INFORMATION

5.1

Licensee   understands   and   agrees   that   MOBETIZE   considers   the   Software   and   any   related

documentation provided by MOBETIZE (collectively "MOBETIZE Information") to be the proprietary

and  confidential  information  of  MOBETIZE  and/or  a  third  party  which  has  granted  marketing  and

licensing rights to MOBETIZE.  Licensee agrees to maintain the MOBETIZE Information in strict

Software License Agreement

2

EXHIBIT 10.1

MOBETIZE USA Inc.

confidence and, except  for the  right of  Licensee to copy the Software  for backup purposes pursuant to

Section  2.4  above,  Licensee  agrees  not  to  disclose,  duplicate  or  otherwise  reproduce,  directly  or

indirectly,  the  MOBETIZE  Information  in  whole  or  in  part  except  for  purposes  of  carrying  out  rights

and obligations under this Agreement.  Licensee agrees not to disassemble, reverse engineer, or reverse

compile the Software in whole or in part.  Licensee agrees to take all reasonable steps to ensure that no

unauthorized persons shall have access to  the MOBETIZE Information and that all authorized persons

having  access  to  the  MOBETIZE  Information  shall  refrain  from  any  such  disclosure,  duplication  or

reproduction.   Licensee  agrees  not  to  remove  any copyright  notice  or  other  proprietary markings from

the  MOBETIZE  Information,  and  any  copy  thereof  made  by  Licensee  for  backup  purposes  shall

contain  the  same  copyright  notice  and  proprietary  markings  contained  on  the  copy  of  the  Software

furnished   by   MOBETIZE   to   Licensee   hereunder.   Licensee   acknowledges   that   the   MOBETIZE

Information is unique and that Licensee's failure to comply with the provisions of this Section 5.1 shall

result  in irreparable harm to MOBETIZE and/or any third party from whom MOBETIZE has received

marketing and licensing rights, and that  in the event  of  the breach or threatened breach by Licensee of

its  obligations  under  this  Section,  MOBETIZE  shall  be  entitled  to  equitable  relief  in  the  form  of

specific  performance  and/or  an  injunction  for  any  such  actual  or  threatened  breach,  in  addition  to  the

exercise of any other remedies at law and in equity.  In the event that Licensee shall breach the terms of

this Section, and any such breach shall remain uncured for a period of five (5) days after the receipt by

Licensee of written notice from MOBETIZE of such breach, MOBETIZE may, at its option, terminate

all  licenses  granted  to  Licensee  hereunder,  in  which  event  Licensee  shall  have  no  further  right  to  use

any  copies  of  such  Software.    In  the  event  of  any  such  termination  or  cancellation,  Licensee  shall,

within ten (10) days after the effective date of any such termination or cancellation, certify in writing to

MOBETIZE  that  such  Software  and  all  materials  relating  thereto  in  the  possession  of  Licensee  have

been destroyed.

5.2

MOBETIZE  understands  that  in  connection  with  the  provision  of  the  Deliverables,  MOBETIZE  may

become privy to certain non-public confidential information of the Licensee, which may be in tangible

or  intangible  form,  and  may  include  data, technical  information, client  information,  services,  products

and   product   applications,   technology,   inventions,   discoveries,   formulations,   ideas,   trade   secrets,

performance  targets,  customers,  suppliers,  pricing, development  plans, competitor  information, and all

information  concerning  Licensee’s  operations,  affairs  and  business,  its  financial  affairs  and  relations

with   its   customers,   employees   and   service   providers   (collectively   the   "Licensee   Information").

MOBETIZE  agrees  to  maintain  the  Licensee  Information  in  strict  confidence  and  agrees  not  to

disclose, duplicate or otherwise reproduce, directly or  indirectly, the Licensee Information in whole or

in  part.   MOBETIZE  agrees  to  take  all  reasonable  steps  to  ensure  that  no  unauthorized  persons  shall

have  access  to  the  Licensee  Information  and  that  all  authorized  persons  having access  to  the  Licensee

Information   shall   refrain   from   any   such   disclosure,   duplication   or   reproduction.     MOBETIZE

acknowledges  that  the  Licensee  Information  is  unique  and  that  MOBETIZE’s  failure  to  comply  with

the  provisions  of  this  Section  5.2  shall  result  in  irreparable  harm  to  Licensee  and/or  any  third  party

from whom Licensee has received marketing and licensing rights, and that in the event of the breach or

threatened  breach  by  MOBETIZE  of  its  obligations  under  this  Section,  Licensee  shall  be  entitled  to

equitable  relief  in  the  form  of  specific  performance  and/or  an  injunction  for  any  such  actual  or

threatened  breach,  in  addition  to  the  exercise  of  any other  remedies  at  law  and  in  equity.   In the  event

of any termination of this Agreement, MOBETIZE shall, within ten (10) days after the effective date of

any  such  termination,  certify  in  writing  to  Licensee  that  all  Licensee  Information  in  the  possession  of

MOBETIZE has been destroyed.

Software License Agreement

3

EXHIBIT 10.1

MOBETIZE USA Inc.

5.3

The  parties  agree  that  all  information  disclosed  by  one  party  to  the  other  party  will  be  designated

confidential  information  (“Confidential  Information”),  unless  such  information  is  independently

developed  or  previously  known  by  the  other  party,  or  is  in  the  public  domain,  or  is  furnished  to  the

other  party  by  a  third  party  who  is  under  no  obligation  to  keep  such  information  confidential.

Confidential  Information  of  the  other  party  will  be  used  by  a  party  only  for  the  purposes  of

carrying out its rights and obligations of this Agreement.

6.

WARRANTIES AND OWNERSHIP

6.1

Warranty  of  Title  -  MOBETIZE  warrants  that  it  has  all  rights  necessary  to  make  the  grant  of

Software  license  herein  by  having all  right,  title  and  interest  in  and  to  the  Software  or  as licensee  of

all such rights from the owner thereof.

6.1.2      MOBETIZE  warrants  that  MOBETIZE  complies  with  all  open  source  license  requirements  arising

from or related to the Software and related Materials and documentation supplied hereunder.

6.1.3      MOBETIZE   warrants   that   the   Software,   Materials   and   documentation   furnished   under   this

Agreement,  and  the  use  thereof  by  Licensee  and/or  its  Affiliates  in  accordance  with  the  terms  and

conditions  of  this  Agreement,  will  not  infringe  (whether  directly,  contributorily,  by  inducement  or

otherwise),  misappropriate  or  violate  any  patent,  trademark,  copyright,  trade  secret  or  any  other

intellectual  property  right  of  any  third-party,  or  violate  the  laws,  regulations  or  orders  of  any

governmental or judicial authority as of the at all times.

6.1.4     MOBETIZE shall secure from the applicable third-party vendor(s) and assign to Licensee, at no

additional cost to Licensee, any and all warranties available from such third-party vendor(s) with

respect to any and all Materials procured by Licensee pursuant to this Agreement.  Such assignment

shall not, however, relieve MOBETIZE of any of its warranty obligations contained herein.  In the

event such third-party vendor warranties are not assignable to Licensee, MOBETIZE shall enforce,

as necessary, such warranties on behalf of Licensee.

6.2

Ownership

A) Background Intellectual Property Rights

All  proprietary  and  intellectual  property  rights,  title  and  interest  including  copyright  in  and  to  the

original  and  all  copies of the Software and the documentation provided by MOBETIZE shall  be and

remain  that  of  MOBETIZE  or  its  subsidiary  as  the  case  may  be.   Licensee  has  no  proprietary  and

intellectual  property  rights,  title  or  interest  in  or  to  any  of  the  Software  or  related  documentation

except  as  granted  herein  and  Licensee  shall  not  at  any  time  whether  before  or  after  the  termination

of  this  Agreement  contest  or  aid  others  in  contesting,  or  doing  anything  which  otherwise  impair  the

validity  of  any  proprietary  and  intellectual  property  rights,  title  or  interest  of  MOBETIZE  in  and  to

the Software or related documentation of MOBETIZE.

Each   of   the   parties   acknowledges   and   agrees   that   any  and  all   rights   to  Licensee  Background

Intellectual  Property,  shall  remain  the  property  of  Licensee.  MOBETIZE  shall  not  at  any  time

whether  before  or  after  the  termination  of  this  Agreement  contest  or  aid  others  in  contesting,  or

Software License Agreement

4

EXHIBIT 10.1

MOBETIZE USA Inc.

doing  anything  which  otherwise  impair  the  validity  of  any  proprietary  and  intellectual  property

rights, title or interest of Licensee in and to any of the Licensee Background Intellectual Property.

B) Customization Development Intellectual Property Rights

MOBETIZE  and  Licensee  shall,  subject  to  Section  6.2(A)  above  and  any  restrictions  applicable  to

any  third-party  materials  embodied  in  the  Customization  (defined  below),  jointly  own  all  right, title

and  interest  in  and  to  any  Customization  developed  by MOBETIZE  for  Licensee  under  Schedule  D

(Customization  Development  and  Pricing)  herein  (the  “Customization”),  without  any  right  or  duty

of   accounting   to   the   other   party.      Licensee retains   the   rights   to   replicate   the   processes

and commercialize  the  business  model  underlying  the  customization.  Neither  Party shall at  any time

whether  before  or  after  the  termination  of  this  Agreement  contest  or  aid  others  in  contesting,  or

doing  anything  which  otherwise  impair  the  validity  of  any  proprietary  and  intellectual  property

rights, title or interest of either Party in and to the Customization Development

In   the   event   that   either   MOBETIZE   or   Licensee   or   both,   wish   to   pursue   a   patent   in   any

Customization  or  any  component  thereof,  they  shall  cooperate  with  each  other  in  preparing  and

submitting one  or  more  patent  applications.   Where the parties agree to, and  do, share equally in the

cost  of  prosecuting  these  patent  applications, they shall  jointly own  any resulting patent  without  the

right  or  duty  of  accounting  to  the  other  party.   Where  the  parties  agree  that  one  of  them  shall  pay

more  than  half the cost  of prosecuting the  application, and it  does so, that  party shall  own the patent

and  shall  grant  to  the  other  party,  absent  any  other  written  agreement  between  the  parties,  a

perpetual,  transferable,  worldwide,  irrevocable,  royalty-free,  fully  paid-up  license  to  use,  copy,

modify  and  prepare  derivative  works  of  the  copyright  (including  without  limitation,  the  right  to

make, have made, use, import, offer for sale and sell or otherwise provide or dispose of products and

services  using  or  incorporating  the  same)  or  to  practice  any  process  in  connection  therewith,  with

the right to sub license the same.

C) Software Module Development Intellectual Property Rights

Any  Module  developed  by  MOBETIZE  for  Licensee,  including  but  not  limited  to  Modules  that  are

dynamically  linked  or  statically  linked  to  MOBETIZE  Products,  is  "work  made  for  hire"  herein

“Work  Product”  and  is  the  property  of  Tata  Communications,  including  any  copyrights,  patents,  or

other  intellectual  property  rights  pertaining  thereto.   If  it  is  determined  that  any  such  works  are  not

works  made  for  hire,  MOBETIZE,  hereby  assigns  to  Licensee  all  of  MOBETIZE’s  title,  rights  and

interest, including all  rights  of copyrights, patent, and other intellectual property rights, to or in such

Work Product.

These  modules  shall  be  assessed  on  a  case  by  case  basis.   All  Intellectual  Property  Rights  in  and  to

any MOBETIZE Module is and shall be the property of and be owned by MOBETIZE.

The  Parties  herein  agree  that,  if  Licensee  requests  MOBETIZE  any  development  under  this  section

6.2  (c),  and  for  whatever  reason  MOBETIZE  decides  not  to  do  it,  Licensee  shall,  at  its  own

discretion,  choose   any  other  third  party  to  develop  it,  and  Licensee  will  still  own  any  copyrights,

patents and other intellectual property on the Work Product.

Software License Agreement

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EXHIBIT 10.1

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6.3

Indemnities

(a)

Intellectual  Property  Indemnity  -  MOBETIZE  shall  defend  or  settle  any  claim  made  or  any  suit  or

proceeding  brought  against  Licensee  insofar  as  such  claim,  suit  or  proceeding  is  based  on  an

allegation  that  any  of  the  Deliverables, Customization  and  Software  Module Development   supplied

to  Licensee  pursuant  to  this  Agreement  infringes  the  proprietary  and  intellectual  property  rights  of

any  third  party  in  or  to  any  invention,  patent,  copyright  or  any  other  rights,  provided  that  Licensee

shall notify MOBETIZE in writing promptly after the claim, suit or proceeding is known to Licensee

and  shall  give  MOBETIZE  information  and  such  assistance  as  is  reasonable  in  the  circumstances.

MOBETIZE   shall   have   sole   authority   to   defend  or   settle   the  same   at   MOBETIZE's   expense.

MOBETIZE shall indemnify and hold Licensee and its affiliates and each of their directors, officers,

employees,   and   agents   harmless   from  and   against   any   and   all   such   claims   and   shall   pay   all

liabilities,   losses,   costs,   penalties,   damages,   expenses   and   costs   (including   all   legal   fees   and

expenses)  which  Licensee,  its  affiliates,  or  any  of  their  respective  directors,  officers,  employees  or

agents  may  incur  or  suffer  as  a  result  of  such  claim,  suit  or  proceeding.   This  indemnity  does  not

extend  to  any  claim,  suit  or  proceeding  based  upon  any  infringement  or  alleged  infringement  of

copyright  by  the  combination  of  the  Software  with  other  software  not  under  license  by MOBETIZE

pursuant  to  the  terms  hereof  nor  does  it  extend  to  any  Software  altered  by  Licensee  either  by

enhancement  or  by  combination  with  product(s)  of  the  Licensee's  design  or  formula.  The  foregoing

states   the   entire   liability   of   MOBETIZE   for   proprietary   and   intellectual   proprietary   rights

infringement  related  to  the  Software.   If  any  of  the  Deliverables  ,  Customization  and/or  Software

Module   Development   in   any  claim,   suit   or   proceeding  is   held   to   infringe   any  proprietary  or

intellectual  property  rights  of  any  third  party  and  the  use  thereof  is  enjoined  or,  in  the  case  of

settlement  as referred to above, prohibited, MOBETIZE shall have the option, at its own expense, to

either  (i)  obtain  for  Licensee  the  right  to  continue  using  the  infringing  item,  or  (ii)  replace  the

infringing item or  modify  it  so  that  it  becomes  non-infringing;  provided that no such replacement  or

modification shall diminish the performance of the Software.

(b)

MOBETIZE  shall  indemnify  defend  and  hold  harmless  Licensee  and  its  Affiliates  and  its  officers,

directors,  employees,  and  agents,  harmless  from any  Claims  by  third  parties  with  respect  to  damage

to   tangible   property,   personal   injury   or   death   caused   by   MOBETIZE's   negligence   or   willful

misconduct.   Licensee shall  indemnify defend  and hold harmless MOBETIZE and its   Affiliates and

its officers, directors, employees, and agents, harmless from any Claims by third parties with respect

to personal injury or death caused by Licensee' s negligence or willful misconduct.

(c)

Notwithstanding  anything  to  the  contrary  set  forth  herein,  (i)  a  Party  entitled  to  indemnification

under  this  Agreement  (an  “Indemnitee”)  may  participate,  at  its  own  expense,  in  any  defense  and

settlement  directly or  through counsel of  its  choice, and (ii) the indemnifying Party will not settle  or

compromise  any  Claim  on  terms  that  would  diminish  the  rights  provided  to  the  Indemnitee  or

increase  the  obligations  assumed  by  the  Indemnitee  under  this  Agreement,  without  the  prior  written

consent of the Indemnitee.

(d)

The  foregoing  remedies  are  in  addition  to  other  remedies  set  forth  in  this  Agreement  or  otherwise

available to the Parties in accordance with applicable law.

Software License Agreement

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EXHIBIT 10.1

MOBETIZE USA Inc.

6.4

Notices  -  Licensee  shall  not  obliterate,  alter  or  remove  any  proprietary  or  intellectual  property

notices  from  the  Software  and  to  the  extent  this  Agreement  permits  Licensee  to  make  copies  of  the

Software, Licensee shall reproduce such notices as they appear on the Software.

6.5

Archive  Copies  -  Licensee  shall  ensure  that  all  copies  it  makes  of  the  Software  under  this  section

include  screen  displays  of  MOBETIZE's  proprietary  or  intellectual  property  notices  as  recorded  on

the  original  copy  provided  by  MOBETIZE,  and  Licensee  shall  affix  a  label  to  each  disk,  reel  or

other  housing  for  the  medium  on  which  each  copy  is  recorded  setting  out  the  same  proprietary  or

intellectual  property  notices  as  such  appear  on  the  unit  of  Software  from  which  the  copy is  made  in

the same manner.

6.6

Escrow    -  Licensee  wishes  to  have  access,  upon  the  happening  of  MOBETIZE  ceasing  to  be  in

business  or  other  events  as  described  in  the  software  escrow  agreement  (the  “Software  Escrow

Agreement”),  to  the  source  code  with  supporting  documentation  ("Source  Code")  for  the  Software,

which  was  licensed  by  MOBETIZE  to  Licensee  in  executable  form  pursuant  to  this  Agreement.

Accordingly,  MOBETIZE  agrees  to  provide  the  Software  Escrow  Agreement  in  the  form similar  or

substantially  similar  to  the  Software  Escrow  Agreement  attached  hereto  as  SCHEDULE  G  and

incorporated herein by this reference.  All escrow costs and or fees are the responsibility of and paid

for by Licensee.

7.

SERVICES

7.1

Software  Installation  -  MOBETIZE  shall  provide  installation  services  for  the  Software.  The  cost  of

the  installation  is  included  in  the  license  acquisition  price  shown  in  Schedule  A.  The  Licensee  shall

reimburse  MOBETIZE  for  all  previously  approved  reasonable  out-of-pocket  expenses  incurred  in

the course of providing such installation services.  Approval by Licensee for such reasonable out-of-

pocket expenses shall not be unreasonably withheld or delayed.

In  the  event  that  both  parties  agree  in  writing  that  additional  installation  time  is  required,  (if  the

system  is  actually  installed  as  per  either  (i)  the  specifications  and/or  (ii)  the  pre-approved  designed

project  plan)  the  licensee  will  reimburse  MOBETIZE  on  a  time  and  materials  basis  as  set  out  in

Schedule  A.,  however,  if  the  system  is  not  installed  in  accordance  with  (i)  and/or  (ii)  above,

MOBETIZE will perform the additional installation free of charge

7.2

Software  Training  -  MOBETIZE  shall  provide  Licensee  with  training  in  the  use  of  the  Software  in

consideration  for  the  payment  of  a  training  fee  at  MOBETIZE's  rates  as  set  out  in  Schedule  A  and

Licensee  shall  reimburse  MOBETIZE  for  all  pre-  approved  reasonable  out-of-pocket  expenses

incurred  in  the  course  of  providing  such  training  services.  The  cost  of  training  is  included  in  the

license  acquisition  price  shown  in  Appendix  A.  Approval  by  Licensee  for  pre-approved  out-of-

pocket  expenses  shall  not  be  unreasonably  withheld  or  delayed.  In  the  event  that  both  parties  agree

that  additional  training  time  is  required,  the  licensee  will  reimburse  MOBETIZE  on  a  time  and

materials basis as set out in Schedule B.

7.3

Software   and   Customization   Development   Maintenance   -   Support   or   maintenance   services

pertaining  to  the  Software  and  Customization  Development  under  this  Agreement  shall  be  as  per

Schedule C.  Licensee acknowledges that all such Services are provided in the nature of “After-sales

Software License Agreement

7

EXHIBIT 10.1

MOBETIZE USA Inc.

service”.   Such  After-sale  service  is  provided  by  installers,  repair  and  maintenance  personnel,  and

supervisors possessing specialized knowledge essential to MOBETIZE's contractual obligation.

8.

WARRANTY AND LIABILITY

8.1

Limited   Warranty  of   Services   and  Software   -  MOBETIZE  warrants   that   all   services   shall   be

performed  in  full  conformity  with  the  Agreement,  with  the  skill  and  care  which  would  be  exercised

by those who perform similar services at the time the services are performed, and in accordance with

accepted industry practice.

8.2

SPECIFIC   EXCLUSION   OF   OTHER   WARRANTIES   -   THE   WARRANTIES   SET   OUT   IN

SECTION  6.1,  AND  8.1  ARE  IN  LIEU  OF  ALL  OTHER  WARRANTIES.  THERE  ARE  NO

OTHER  WARRANTIES,  REPRESENTATIONS,  CONDITIONS,  OR  GUARANTEES  OF  ANY

KIND  WHATSOEVER,  EITHER  EXPRESS  OR  IMPLIED  BY  LAW  (in  contract  or  tort)  OR

CUSTOM,

INCLUDING,

BUT

NOT

LIMITED

TO

THOSE

REGARDING

MERCHANTABILITY,  FITNESS  FOR  PURPOSE,  CORRESPONDENCE  TO  SAMPLE,  TITLE,

DESIGN,   CONDITION,   OR   QUALITY   IN   RELATION   TO   THE   SOFTWARE.     WITHOUT

LIMITING   THE   ABOVE,   MOBETIZE   DOES   NOT   WARRANT   THAT   THE   SOFTWARE

SHALL   MEET   THE   REQUIREMENTS   OF   LICENSEE   OR   THAT   THE   OPERATION   OF

SOFTWARE SHALL BE FREE FROM INTERRUPTION OR ERRORS.

8.3

Restrictions  on  Warranty  -  in  the  event  of  licensee  and  sub  licensee  losing  their  software  installation

through     cause   non   attributable   to   MOBETIZE,   MOBETIZE   shall     fulfill   requests   to   provide   a

replacement  copy  software  as  originally  purchased,  and  charge  reasonable  time  and  expenses  for  doing

so. If attributable to MOBETIZE,  then MOBETIZE shall provide a replacement free of charge.

8.4

NO  INDIRECT  DAMAGES  -  IN  NO  EVENT  SHALL  EITHER  PARTY  BE  LIABLE  TO  THE

OTHER  PARTY  FOR  INDIRECT  DAMAGES  OR  LOSSES  (IN  CONTRACT  OR  TORT)  IN

CONNECTION WITH THE DELIVERABLES OR THIS AGREEMENT, INCLUDING BUT NOT

LIMITED   TO   DAMAGES   FOR   LOST   PROFITS,   LOST   SAVINGS,   OR   INCIDENTAL,

CONSEQUENTIAL,  EXEMPLARY,  OR  SPECIAL  DAMAGES,  EVEN  IF  CAUSED  BY  THE

NEGLIGENCE   OF   THE   OTHER   PARTY   AND   EVEN   IF   THE   PARTY   SEEKING   SUCH

DAMAGES  HAS  KNOWLEDGE  OF  THE  POSSIBILITY  OF  SUCH  POTENTIAL  LOSS  OR

DAMAGE.

8.5

LIMITS  ON  LIABILITY  -  IF  FOR  ANY  REASON,  A  PARTY  BECOMES  LIABLE  TO  THE

OTHER  FOR DIRECT OR ANY OTHER DAMAGES FOR ANY CAUSE WHATSOEVER, AND

REGARDLESS  OF  THE  FORM  OF  ACTION  (IN  CONTRACT  OR  TORT),  INCURRED  IN

CONNECTION  WITH  THIS  AGREEMENT,  THE  DELIVERABLES,  THE  CUSTOMIZATION,

AND SOFTWARE MODULE DEVELOPMENT THEN, THE PARTIES AGREE THAT:

a)

THE  LIABILITY  OF  EACH  PARTY  FOR  ALL  DAMAGES,  INJURY,  AND  LIABILITY

INCURRED  BY  THE  OTHER  IN  CONNECTION  WITH  THIS  AGREEMENT,  SHALL

BE   LIMITED   TO   AN   AMOUNT   EQUAL   TO   ALL   FEES   PAID   UNDER   THIS

AGREEMENT,  BUT  IN  NO  EVENT  LESS  THAN  USD  750,000.00  (SEVEN  HUNDRED

AND  FIFTY  THOUSAND  DOLLARS)  PER  EVENT,  WHICHEVER  IS  GREATER  AT

THE TIME OF THE EVENT GIVING RISE TO THE CLAIM.

Software License Agreement

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EXHIBIT 10.1

MOBETIZE USA Inc.

8.6

NOTWITHSTANDING   ANYTHING   TO   THE   CONTRARY   CONTAINED   HEREIN,   THE

LIMITATIONS  OF  LIABILITY  CONTAINED  (SECTIONS  8.4  AND  8.5)  DO  NOT  APPLY  TO

CLAIMS  RELATING  TO  PROPERTY  DAMAGE,  INJURY,  DEATH,  AND  SECTIONS  5.1,  5.2

OR SECTON 6.3 HEREIN.

9.

TERM AND TERMINATION

9.1

This  Agreement  is  valid  for  a  five  (5)  year  term  commencing  from  the  effective  date  of  this

Agreement.

9.2

Termination - This Agreement shall terminate in each of the following events:

a)

At  the  option  of  either  party  if  the  other  party  materially  defaults  in  the  performance  or

observance of any of its obligations hereunder and fails to remedy the default within 90 days

after receiving written demand therefor; or

b)

At  the  option  of  either  party  if  the  other  party  becomes  insolvent  or  bankrupt  or  makes  an

assignment  for  the  benefit  of  creditors,  or  if  a  receiver  or  trustee  in  bankruptcy  is  appointed

for  the  other  party,  or  if  any  proceeding  in  bankruptcy,  receivership,  or  liquidation  is

instituted   against   the   other   party   and   is   not   dismissed   within   30   days   following

commencement thereof;

9.3

Notwithstanding  the  termination  events  above,  either  Party  can  terminate  this  agreement,  without

cause, with a three (3) month prior written notice.

9.4

Rate  Review.    Every  twelve  (12)  months  from  the  anniversary  following  the  execution  of  the

Agreement, and  at  the  request  of  Licensee, the  Parties  will  review the  rates  charged  by MOBETIZE

for  the  Monthly  Licensing  Fee  (defined  in  Schedule  A),  monthly  Support  Fee  (defined  in  Schedule

A),  and  Commission  (defined  in  Schedule  B)  to  take  into  account  avoided  costs  to  MOBETIZE

based  on  Licensee’s  taking  responsibility  for  operational  obligations  assigned  to  MOBETIZE  under

this Agreement.

9.5

Rights  Upon  Termination  –Upon  expiration  or  termination  of  this  Agreement    the  Parties  will

promptly  return  to  each  other  all  copies  of  the  Software  and  any  related  documentation  and  any

Confidential   Information   in   each   other’s   possession   and/or   control,   and   completely   erase   the

Software   and   all   elements     and   confidential   information   thereof   from   each   other’s   computer

system(s)  and  will  execute  and  deliver  to  the  other  Party  a  written  certification  that  it  has  complied

with  the  provisions  of  this  Section  and  no  longer  retains  any  material  relating  to  the  Software,

related  documentation,  and/or  Confidential  Information  in  its  possession  or  control.  Except  for   (i)

an  uncured  breach  by  Licensee,  and/or   (ii)  the  occurrence  of  section  9.1  (b)  applying  to  Licensee;

upon  expiration  or  termination  of  this  Agreement,   Licensee  may continue  to  use  the  Software  as  to

a    particular    Licensee    Customer    until    the    expiration    or    termination    of    all    reasonable

Licensee/Customer  written  agreements  (excluding  as  reasonable,  as  an  example,  those  agreements

made  merely  to  take  advantage  of  this  sentence)  signed  by  Licensee  and  the  particular  Licensee

Customer.  The  time  period  between  expiration  or  termination  of  this  Agreement  and  the  expiration

Software License Agreement

9

EXHIBIT 10.1

MOBETIZE USA Inc.

or  termination  of  the  Licensee/Customer  agreement  shall  be  herein  referred  to  as  “Post  Termination

Period”.  In  addition  to  any  other  rights  which  either  party  may  have,  during  the  Post  Termination

Period  each  Party  will  remain  responsible  for  all  its  obligations  set  forth  in  this  Agreement.  Upon

the  expiration  and  termination  of  the  Post  termination  Period,  Licensee  shall  promptly  return  to

MOBETIZE   all   copies   of   the   Software   and   any   related   documentation   and   any   MOBETIZE

Confidential Information in Licensee’s possession and/or control, and completely erase the Software

and  all  elements  thereof  from  Licensee’s  computer  system,  and  upon  MOBETIZE’s  request,  will

execute  and  deliver  to  MOBETIZE  a  written  certification  that  Licensee  has  complied  with  the

provisions  of  this  Section  and  no  longer  retains  any  material  relating  to  the  Software  or  related

documentation  and/or  any  MOBETIZE  Software  Confidential  Information  in  Licensee’s  possession

and/or control.

10.

AUDIT

10.1

Upon  30  days  prior’  written  notice,  but  in  no  event  no  more  than  every 12  months,  MOBETIZE  shall

have  the  right  to  enter  Licensee's  facilities  for  the  sole  purpose  of  confirming the  number  of  copies  of

the  Software  installed.  This  Audit  shall  be  performed  on  a  business  day,  at  business  hours,  shall  not

disturb Licensee’s regular business, and shall be fully paid by MOBETIZE.

11.

ARBITRATION

(a)

In  the  event  of  any  dispute,  controversy,  or  claim  between  the  parties  of  any  kind  or  nature,

including  but  not  limited  to  disputes  arising  under  or  in  connection  with  this  Agreement

(including  disputes  as  to  the  creation,  validity,  interpretation,  breach,  or  termination  of  this

Agreement)  (the  “Claim”),  the  parties  agree  to  submit  such  Claim  to  binding  arbitration

governed by the rules of the International Chamber of Commerce (ICC) under New York State

laws. A party may demand such arbitration in accordance with the procedures set  out  in  those

rules.

(b)

Discovery shall be controlled by the arbitrator and shall be permitted to the extent permitted by

New  York  Law.  The  arbitration  shall  be  held  in  New  York  City,  NY.   The  arbitrator  shall

control the scheduling so as to process the matter expeditiously.

(c)

If  any  legal  action  or  other  proceeding  is  brought  for  the  enforcement  of  this  Agreement,  or

because  of  an  alleged  dispute,  breach,  default  or  misrepresentation  in  connection  with  any  of

the  provisions  of  this  Agreement,  the  prevailing  party  will  be  entitled  to  recover  reasonable

attorneys’  fees  and  other  costs  incurred  in  that  action  or  proceeding,  in  addition  to  any  other

relief  to which it  may be entitled. The parties shall  equally split  the fees of the  arbitration and

the arbitrator.  The arbitrator may apportion the costs incurred by the prevailing party.

(d)

Any  award  rendered  by  the  arbitrator  will  be  final,  conclusive,  and  binding  upon  the  parties,

and any judgment thereon may be entered and enforced in any court of competent jurisdiction.

12.

GENERAL

12.1

Complete  Agreement  -This  Agreement,  including  all  Schedules  and  Appendices  hereto,  is  the

complete  and  exclusive  statement  of  the  Agreement  between  the  parties  with  respect  to  the  subject

matter   contained   herein   and   supersedes   and   replaces   all   prior   representations,   proposals,

Software License Agreement

10

EXHIBIT 10.1

MOBETIZE USA Inc.

understandings  and  all  other  agreements,  oral  or  written,  express  or  implied,  between  the  parties

relating  to  the  matters  contained  herein.  This  Agreement  may  not  be  modified  or  altered  except  by

written instrument duly executed by both parties.

12.2

Force  Majeure  -  Dates  or  times  by  which  either  party  is  required  to  perform  under  this  Agreement

excepting  the  payment  of  any  fees  or  charges  past  due  hereunder  shall  be  postponed  automatically,

on  a  day  to  day  basis  for  a  time  period  equal  to  the  period  of  the  excusable  delay,  to  the  extent  that

any  party  is  prevented  from  meeting  them  as  a  result  of  force  majeure.   For  the  purposes  of  this

Section  12.2, “force majeure” means  any occurrence beyond the reasonable control of a party which

cannot  be  avoided  through  reasonable  contingency  planning  by  such  party,  including  acts  of  God,

fires,  floods,  earthquakes,  explosions,  riots,  war,  terrorism,  sabotage,  nuclear  incidents,  lockouts,

strikes  or  other  organized  labor  disruptions,  provided  that  lack  of  finances  will  in  no  event  be

deemed to be such an occurrence.

12.3

Notices  -  All  notices  and  requests  in  connection  with  this  Agreement  shall  be  given  or  made  upon

the  respective  parties  in  writing  and  delivered  by  hand  delivery,  email  or  prepaid  registered  mail.

Such  notice  or  communication  shall  be  deemed  given  (or  received  by  the  other  party)  as  of  the  date

when  hand  delivered  or  sent  by  email  (if  delivered  or  sent  during  the  recipient’s  regular  business

hours  on  a  business  day,  and  otherwise  on  the  next  business  day),  or  three  business  days after  being

sent by prepaid registered mail to the other party and addressed as follows:

MOBETIZE:    MOBETIZE USA Inc.

205 – 8105 Birch Bay Square St.,

Blaine, WA 98230

Attention:   Ajay Hans, CEO

Email:   ahans@MOBETIZE.com

Licensee:

Tata Communications (America) Inc.

Suite 700

2355 Dulles Corner Blvd.

Herndon, VA 20171

Attention: Frederic Dingemans

Email: Frederic.Dingemans@tatacommunications.com

12.4

Governing Law - This Agreement and performance hereunder shall be governed by the laws of New

York State.

12.5

Enforceability   -   If   any   provision   of   this   Agreement   shall   be   held   to   be   invalid,   illegal   or

unenforceable  under  any applicable  statute  or  rule  of  law,  the  validity,  legality and enforceability of

the remaining provisions shall in no way be affected or impaired thereby.

12.6

Non-Assignment – Neither party may assign this  Agreement without the prior written consent of the

other, which consent will not be unreasonably withheld or delayed.

Software License Agreement

11

EXHIBIT 10.1

MOBETIZE USA Inc.

12.7

Non-Waiver  - The  waiver  or  failure  of  either  party  to  exercise  in  any  respect  any  right  provided  for

herein shall not be deemed a waiver of any further right hereunder.

12.8

No  Agency  -  The  parties  acknowledge  that  each  is  an  independent  contractor  and  nothing  herein

constitutes a joint venture or partnership and neither party has the right to bind or act for the other as

agent or in any other capacity.

12.9

Enurement  -  All  covenants,  representations,  warranties  and  agreements  of  the  parties  contained

herein  shall  be  binding  upon  and  shall  enure  to  the  benefit  of  the  parties  and  their  respective

successors and permitted assigns.

12.10    Survival  –  All  provisions  of  this  Agreement  which,  expressly  or  by  their  nature  are  intended  to

survive  termination  hereof,  including  Subsections  5.1,  5.2,  5.3,  6.2,  6.3,  8.3,  8.4,  8.5  and  8.6  shall

survive  termination  and  expiration  of  the  Agreement  and  will  continue  in  full  force  and  effect  until

such provisions are satisfied or by their nature terminate.

12.11    Interlocutory  Remedy  -  Both  parties  acknowledge  that  irreparable  harm  shall  result  to  the  other  if

either  breaches  their  obligations  under  sections  5  and  6  and  both  parties  acknowledge  that  such  a

breach would not be properly compensable by an award of damages.  Accordingly, each party agrees

that remedies  for any such breach may include, in addition to other available remedies and damages,

injunctive relief or other equitable relief enjoining such breach at the earliest possible date.

12.12    Compliance  With  Laws  –  The  Parties  warrant  and  represent  that  at  all  times  they  will  comply  with

all  requirements  of  any  applicable  statute,  rule,  regulation,  interpretation,  judgment,  order,  and  law

of any Governmental Authority having jurisdiction.

12.13    MOBETIZE  shall  not  make  or  offer  to  make  any  payment  or  gift  directly  or  indirectly  to  any

employee,  officer  or  representative  of  any  government,  political  party  or  candidate  for  political

office  under  circumstances  in  which  such  payment  could  constitute  a  bribe,  kickback  or  illegal

payment  under  United  States  or  applicable  non-US  laws.    Without  limiting  the  generality  of  the

foregoing,  MOBETIZE  further  represents  and  warrants  that  under  no  circumstances,  shall  it  make,

cause or authorize any third party to make or cause any bribes, kickbacks, or illegal payments for the

purpose  of  influencing  a  person’s  acts  or  decisions  or  in  order  to  obtain  or  retain  business  in

connection  with  the  Materials  and/or  Services  provided/received  hereunder.   MOBETIZE  agrees  to

comply  with  all  applicable  anti-bribery  laws  (including  but  not  limited  to  the  U.S  Foreign  Corrupt

Practices  Act,  the  UK  Bribery  Act,  and  the  Corruption  of  Public  Officials  Act  of  Canada)  and

further  agrees  that  any  failure  by  MOBETIZE  to  comply  with  the  provisions  of  this  Section  12.13

shall  constitute  an  incurable  breach  of  this  Agreement  for  the  purposes  of  Section  9.2(a)  herein.

MOBETIZE shall complete the certification attached in Schedule E and provide such certification to

Tata   Communications   upon   execution   of   this  Agreement  and,  at  every  3  year  interval  of  the

engagement or before the commencement of each new Term, whichever comes first.

12.14   MOBETIZE shall abide by Licensee’s Data Protection Schedule attached herein as Schedule F

Software License Agreement

12

EXHIBIT 10.1

MOBETIZE USA Inc.

12.15    This  Agreement  does  not  convey  to  MOBETIZE  any  ownership  rights  in  any  Customer  Data.

Licensee  and  its  Affiliates  retain  all  right, title,  and  interest  in  and  to  all  Customer  Data.  “Customer

Data”  means  any  data,  information,  materials,  or  intellectual  property  (in  any  form)  provided  or

submitted to MOBETIZE by or on behalf of Licensee or its Affiliates.

12.16

Residuals.   Nothing  in   this   Agreement   shall   preclude   either   Party   from  developing   products,

concepts, systems, services, or techniques that are similar to or compete with the products, concepts,

systems,  services,  or  techniques  so  long  as  doing  so  is  not  in  breach  of  the  confidentiality

provisions  of  this  Agreement.  Either  Party  may  use  any  general  learning,  skills,  or  know-how  or

other   Residual   Information  gleaned  from  unwritten  and  unaided  memory  for  any  purpose.

"Residual Information" means any information retained in the unaided memory of  a person who had

access to or worked with a disclosing Party's Confidential Information or Materials.

12.17    No  Limitations  on  License  or  Service  –  Licensee  acknowledges  that  MOBETIZE  may  license  the

Software and may provide maintenance and/or annual support to other customers of MOBETIZE.

12.18    No  Third  Party  Beneficiary  –  This  agreement  will  be  binding  upon  and  inure  to  the  benefit  of  the

parties  to  this  Agreement  and  their  respective  successors  and  assigns.    This  Agreement  is  not

intended, nor  will it be construed, to create or  convey any right in or upon any person or entity not a

party to this Agreement.

12.19    Construction  –  The  Article  and  Section  headings  used  in  this  Agreement  are  for  convenience  of

reference  only  and  in  no  way  define,  limit,  extend  or  describe  the  scope  or  intent  of  any  provisions

of  this  Agreement.  In  addition,  as  used  in  this  Agreement,  unless  otherwise  expressly  stated  to  the

contrary, (a)  all  references  to days, months  or  years are references  to calendar  days, months or years

and (b) any reference to a “Section,” “Article” or “Schedule” is a reference to a Section or Article of

this  Agreement  or  a  Schedule  attached  to  this  Agreement.  A  “business  day”  refers  to  a  day  that  is

not  a  Saturday,  Sunday  or  statutory  holiday  in  the  state  of  New  York,  USA.   The  provisions  of  this

Agreement  are  qualified  in  their  entirety  by  reference  to  the  information  and  the  terms  set  forth  in

the Schedules. Except in respect of Sections 5.2, 6.3, 8.4 or 8.5 of the Agreement which shall prevail

over  any  inconsistent  terms  in  any  Schedule  or  Software  Support  Order,  to  the  extent  that  the

provisions of this Agreement and the Schedules to this Agreement are inconsistent, the provisions of

the  Schedules  to  this  Agreement  will  govern  and  control.  The  drafting  of  a  provision  or  provisions

by one party shall not result in that provision or provisions being construed against that party.

[Signature Page Follows]

Software License Agreement

13

EXHIBIT 10.1

MOBETIZE USA Inc.

IN   WITNESS   WHEREOF   the  parties  thereto  have  executed  this  Agreement,  through  their  respective

officers, duly authorized for such purpose, as they so declare and represent, as the Effective Date.

MOBETIZE USA Inc.:

TATA Communications (America) Inc.

/s/ Ajay Hans

/s/ Daniel Bergeron

Authorized Signatory

Authorized Signatory

President

Senior VP, Business Operations, Service Providers

Title

Title

February 1, 2017

January 24, 2017

Date of Signature

Date of Signature

Software License Agreement

14

EXHIBIT 10.1

MOBETIZE USA Inc.

EXHIBIT A

Defined Terms

"Affiliate"  means,  with  respect  to  a  Party,  any  entity  that  either  controls,  is  controlled  by,  or  is  under

common control with such Party.  For purposes of the foregoing, "control" shall mean the ownership of more

than  fifty  percent  (50%)  of  the  (i)  voting  power  to  elect  the  directors  of  a  MOBETIZE,  or  (ii)  ownership  in

said entity.

“Acceptance” shall have the meaning ascribed to it in Section 12 of the Agreement.

“Acceptance Date” means the date on which Acceptance shall have occurred.

"Agreement" means  this Agreement, including the Exhibits, schedules and attachments hereto together with

Purchase  Orders  and   Statements   of   Work  issued   and  accepted  hereunder,   and   any  written  agreement

between the Parties which is supplementary to or in amendment or confirmation of this Agreement.

“Background   Intellectual   Property”   shall   mean   any   Intellectual   Property   owned,   created,   held,   or

discovered by a Party prior to development of the Customizations

“Bulletin”  means  written  notification  by MOBETIZE  of  information relating to Product uses or  availability

that supplements the Documentation and is broadly applicable to MOBETIZE’s customer base.

“Business  Day” means the normal  hours  of  business  during those days  of  a calendar week wherein business

is  generally  conducted  within  a  country  where  the  relevant  Site  is  located,  taking  account  of  local  custom

and practice and specifically excluding local in-country public and/or bank holidays.

“Call Window” means the time of day availability of support services coverage as described in section 6.3.

“Confidential   Information"   means   any   information   concerning   either   party’s   software   programs,

including   without    limitation,    the    source    code,    any   specifications,    flow   charts,    computer    codes,

documentation  formulae,  or  any  part  or  component  thereof.  As  well,  as  any  business  plans,  financial

information,  customer  lists  or  product  development  information,  that  either  party  considers  proprietary  and

confidential.

“Current  Release”  means  the  Software  Release  that  MOBETIZE  defines  as  current,  and  is  normally

shopped on receipt of orders at that time.

“Customer”  means  Licensee  and  any  entity  with  whom  Licensee  enters  into  an  agreement  for  software

services  or  facilities  management  related  to  the  Products  or  any  representative  of  Licensee  who  may  be

reasonably expected by MOBETIZE to act on Licensee’s behalf.

Software License Agreement

15

EXHIBIT 10.1

MOBETIZE USA Inc.

"Commodity  Taxes"  means  all  duties,  commodity  taxes  or  other  similar  indirect  taxes  whether  imposed  at

the   federal,   state,   provincial   or   other   local   level   and   determined   in   accordance   with   the   relevant

governmental  regulations  in  force  at  the  time  of  making  the  relevant  supply  of  Materials  and/or  Services,

including  but  not  limited  to  all  sales,  use,  value  added  (including  taxes  described  as  goods  and  services)

excise  and/or  similar  taxes  imposed,  levied  or  assessed  by any government  authority,  other  than  taxes  in  the

nature of a tax on income, capital or net worth.

“Custom   Software”   means   Software   that   (1)   was   developed   specifically   for   Tata   Communications'

applications and (2) was paid for substantially by Tata Communications.

“Customizations” means enhancements, changes, or alterations to core product in order to address specific

Customer requirements or to address licensee product roadmap and whose development was paid for by

Licensee.

“Deliverables” means Software, related Materials, Documentation and Services.

"Delivery   Date"   means   the   actual   date   of   delivery   of   Materials   to   a   Site   designated   by   Tata

Communications..

“Designated  Location”  means  the  location  designated  by  Tata  Communications  where  the  Materials  are  to

be  delivered  and/or  installed  or  the  Tata  Communications'  owned  premises  where  the  Services  are  to  be

performed.

“Dispute” means any disagreement or claim that arises between the Parties.

"Documentation"  means  the  written  and  graphical  material  relating  to  the  design,  installation,  use,  and

maintenance  of  the  Product  that  is  provided  to  Licensee  as  part  of  its  Product  license  and  that  may  be

updated by MOBETIZE from time to time to correct errors and omissions or to add clarification.

“Electronic Signature”  or “ES” means a signature  that consists  of one or more letters, characters, numbers

or  other  symbols  in  digital  form incorporated  in,  attached  to  or  associated  with  a  human  readable  electronic

version of this Agreement using Tata Communications’ or its designated third party ES platform.

“End  User”  means  a  person  who  operates  a  computer  that  uses  the  Products  in  production  to  perform

regular business functions.

“Fees” means the fees paid by either Party to another under this Agreement.

“Full Support Service” means software support service delivered by MOBETIZE to Licensee on a pre-paid

basis

“Incompatible Configuration”  means the integration and use of the products by the  Licensee in  relation to

the  Licensee’s  other  computer  and  office  systems  and  in  a  manner,  as  determined  by  MOBETIZE,  that

deviated  from  MOBETIZE’s  Required  Configuration  and  which  may  cause  malfunctions  or  difficulties  in

the operation of the Products.

Software License Agreement

16

EXHIBIT 10.1

MOBETIZE USA Inc.

“Implement”  means  the  process  of  first  installation  of  Product  or  installation  of  a  new  Software  Release,

which requires a major data conversion.

“Intellectual  Property”  shall  mean  patents,  trade  secrets,  rights  to  inventions,  copyright  and  related  rights,

trade  marks,  business  names  and  domain  names,  rights  in  get-up,  goodwill  and  the  right  to  sue  for  passing

off,   rights   in   designs,   database   rights,   rights   to   use,   and   protect   the   confidentiality   of,   confidential

information (including know-how), and all  other intellectual property rights recognized under law, including

the  right  to  sue  in  respect  thereof,  in  each  case  whether  registered  or  unregistered  and  including  all

applications  and  rights  to  apply  for  and  be  granted,  renewals  or  extensions  of,  and  rights  to  claim  priority

from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now

or in the future in any part of the world.

“Locations” means all Licensee locations where Products are installed.

"Materials"   means   the   equipment,   hardware,   materials,   Software   and   related   services   specified   in   a

Purchase Order.

“MOBETIZE Module” shall mean:  smartWallet, smartRemit, smartCharge , smartBill, smartcard, and

smartLoan.

“MOBETIZE Products” means those Products that are owned by MOBETIZE

“Module”  means  a  portion  of  a  program  that  carries  out  a  specific  function  and  may  be  used  alone  or

combined with other modules of the same program.

“Network Services” are the services offered by Tata Communications (or a Tata Communications Affiliate)

including  the  following:  access  to  the  Internet,  data  and  voice  transmission,  and  any  other  communications

service  furnished  by  Tata  Communications  (or  a  Tata  Communications  Affiliate)  by  means  of  the  Tata

Communications’ (or a Tata Communications Affiliate’s) communications network.

“Patch”  means  the  computer  file's,  routines  or  code  which  when  compiled  with  Products  corrects  problems

or errors in the Products.

“Problem  Severity”  means  a  classification  of  the  business  and  technical  impact  on  Licensee  associated

with a Reported Issue and as described in detail in section 10.

“Production   Database”   means   the   stored   collection   of   electronic   transaction   data   as   recorded   by

Licensee’s  live  implementation  of  the  Product  as  used  by  its  End  Users  to  satisfy the  business  requirements

of its customer.

“Products”  means  those  Software  as  defined  in  the  Agreement,  which  is  further  listed  on  the  Software

Support Order (attachment I) and licensed to Licensee.

Software License Agreement

17

EXHIBIT 10.1

MOBETIZE USA Inc.

“Price  List”  means  the  maximum  prices,  fees,  and  charges,  less  all  applicable  discounts,  for  the  Materials

and/or  Services  which  Tata  Communications  (or  its  Affiliates)  may  order  under  this  Agreement,  as  more

fully described in Exhibit B.

"Purchase Order" means any purchase order issued by Tata Communications or its Affiliates in accordance

with Section 4 of the Agreement.

“Purchase  Price”  means  the  total  amount  to  be  paid  by  Tata  Communications  for  the  Materials  and/or

Services pursuant to a Purchase Order or Statement of Work.

“Reported  Issue”  means  a  query,  bug, error, or problem related to  the Product  and covered under  the terms

of this Agreement that Licensee brings to MOBETIZE’s attention.

“Required  Configuration”  means  the  guidelines  published  by  MOBETIZE,  or  as  otherwise  determined  by

MOBETIZE   and   communicated   to   Licensee,   which   specify   the   acceptable   configuration   of   computer

hardware, software, and related technologies needed to operate and support the Products.

“Services”  means  the  services  described  in  a  Statement  of  Work (or in the case of installation Services, in  a

Purchase Order) executed by the Parties pursuant to the Agreement.

“Software”  means  any  computer  program (including any corrections, maintenance  loads,  patches,  software

updates,  revisions,  enhancements  or  upgrades,)  in  machine  readable  code,  provided  on  magnetic  tape  or

other  storage  media,  loaded  into the memory of  the hardware’s  processing unit(s) or  any external  equipment

such as personal computers.   Software does not include Customization or Software Module Development.

“Site  Certification”  means  the  process  of  MOBETIZE  examining  and  assessing  the  Licensee’s  computing

environment  culminating  in  a  formal  determination  by  MOBETIZE  of  whether  or  not  the  environment

complies with the Required Configuration.

“Software  Release”  means  MOBETIZE’s  definition  of  successive  versions  of  Software  that  have  been

generally  released  by  MOBETIZE  to  its  customers  and  for  greater  certainty  excludes  specific  custom

modified  versions  of  its  software  in  testing and  new application  developments.   MOBETIZE defines release

through   a   numeric   code,   which   follows   a   numbering   convention   as   published   from   time   to   time   in

MOBETIZE’s  Software  Release  Methodology.    The  numeric  code  consists  of  three  groups  of  numbers

separated  by  period’s  (0.0.0).  The  first  group  defines  the  Major  Release  (X.0.0),  the  second  group  defines

the Version Release (0.X.0), and the third group defines the Maintenance Release (0.0.X).

     “Major  Release”  means  significant  changes  and  enhancements  to  the  software  usually

supplied with new or additional documentation.

     “Version  Release”  means  accumulated  maintenance  releases  and  some  minor  functional

improvements to the software.

     “Maintenance  Release”  means  software  issued  to  correct  reproducible  reported  issues,

anomalies, errors, and problems in core product.

Software License Agreement

18

EXHIBIT 10.1

MOBETIZE USA Inc.

“Software   Support   Order”   means   the   current   respective   Software   Support   Order(s)   as   signed   by

MOBETIZE  and  Licensee  and  which  specifically  refers  to  this  Agreement,  and  which  sets  out  the  Special

Terms  and  Conditions  of  the  software  support  service  to  be  provided  to  Licensee  for  the  specific  identified

supported  Product.   The  terms  and  conditions  of  the  Software  Support  Order  are  incorporated  as  part  of  the

Agreement  specifically for  the  purpose  only of  services  for Product  encompassed by the particular Software

Support Order.  An example of a Software Support Order is provided in Attachment I attached hereto.

“Special  Terms  and  Conditions”  means  terms  and  conditions  identified  on  a  Software  Support  Order.

These  terms  and  conditions  supplement  and  supersede  those  in  the  Agreement  for  the  purpose  only  of

services   encompassed   by   the   particular   Software   Support   Order,   provided   that   in   the   event   of   any

inconsistency between the provisions of a  Software Support Order and any of Sections 5.2, 6.3, 8.4 or 8.5 of

the Agreement, the aforementioned sections of the Agreement shall prevail.

“Sub  licensee”  is  a  Customers  who  is  accessing  and  using  the  software  by  way  for  sub  licensing  from  the

licensee the Software for the  delivery of mobile  money services  for the  processing of data relating to mobile

money services pursuant to this agreement and as described in Schedule A.

“Support  Start  Date”  means  the  date  identified  on  the  Software  Support  Order  when  MOBETIZE  begins

delivering support services to Licensee under the terms of this Agreement.

“Support  Term”  means  the  continuous  length  of  time  identified  on  the  Software  Support  Order,  and

beginning  on  the  Support  Start  Date,  during  which  Licensee  agrees  to  procure  MOBETIZE’s  support

services under the terms of this Agreement.

"Statement  of  Work"  means  any  statement  of  work  issued  by  Tata  Communications  or  its  Affiliates  in

accordance with Section 5 of the Agreement.

“Time  and  Materials”  means  the  conditions  under  which  MOBETIZE  delivers  software  support  services

that  are  excluded  from this  Agreement  or  not  on  a  pre-paid  basis  but  are nonetheless requested by Licensee.

Such services are provided at MOBETIZE’s option, at its then prevailing time and materials charges.

“Third  Party  Products”  means  those  products  that  are  owned  and  produced  by a  company,  or  entity,  other

than MOBETIZE and for which MOBETIZE provides Full Support Service as identified on Attachment II to

Schedule B.

“Work”   means   the   performance   of   all   requested   work   and   Services,   as   per   Tata   Communications’

descriptions set forth in the Statement of Work.

"Work   Product"   means   all   Deliverables   and   all   intermediate   and   partial   versions   thereof,   and   all

documentation,  analysis,  flowcharts,  notes,  outlines,  formulas,  processes,  algorithms,  ideas,  inventions,

know-how   or   techniques,   and   any  other   information,   or   materials   generated   by  the   one  Party  in  the

performance of Services pursuant to this Agreement.

[END of TEXT]

Software License Agreement

19

EXHIBIT 10.1

MOBETIZE USA Inc.

Schedule A – MOBETIZE Platform and  Software  License Pricing Schedule

MOBETIZE Licensing Modules and Pricing Schedule

Tata  Communications  will  pay  Mobetize  a  monthly  Licensing  Fee  for  the  modules

Tata Communications sub licenses to its customers.  The Monthly fee ***....

***

***

***

Monthly Licensing Fee

MOBETIZE      Current      Release      Modules

Description (transaction type)

SmartWallet

***

***

***

SmartRemit

***

***

***

SmartCard

***

***

***

SmartCharge

***

***

***

SmartBill

***

***

***

SmartLoan

***

***

***

MOBETIZE Monthly Support

Tata  Communications  will  pay  Mobetize  a  monthly  Support  Fee  for  the  customers

Tata Communications sub licenses one more Modules.  ***....

***

***

***

***

Module Description

***

***

***

***

***

___________________

Software License Agreement

20

EXHIBIT 10.1

MOBETIZE USA Inc.

***  Certain information on this page has been omitted and filed separately with the Securities and

Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Software License Agreement

21

EXHIBIT 10.1

MOBETIZE USA Inc.

Schedule B – Sub Licensing Revenue Share

In the case where the Mobetize SmartWallet Module is used to fund a transaction, *** under this

Agreement, per the parameters set forth in this Agreement. Mobetize will track and calculate all

Commissions due, providing reporting through the CRM system to the Company ***.

In the cases where a the Mobetize SmartWallet module us not used to fund a transaction, ***  under this

Agreement, per the parameters set forth in this Agreement. Mobetize will track and calculate all

Commissions due, providing reporting through the CRM system to the Company. ***

The Commissions by transaction type are set as follows:

SmartRemit:      Applies to countries Mobetizes provides coverage of.  A covered country is defined by

country which Mobetize, directly or through a partner, sources the transmission of funds to. ***.

SmartBill:

***

SmartCard:

***

SmartCharge:    applies to mobile networks Mobetizes provides coverage of.  A covered network is defined

by a mobile operators network which Mobetize, directly or through a partner, sources the distribution

agreement of airtime with the mobile network.  ***.

___________________

***  Certain information on this page has been omitted and filed separately with the Securities and

Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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EXHIBIT 10.1

MOBETIZE USA Inc.

Schedule C – Service and Support Level Agreement

1.    Introduction

This  Schedule  C  sets  out  the  terms  and  conditions  under  which  MOBETIZE  will  provide  annual  support

services (“Annual Support Services”) to Licensee.

3.    Service Coverage

Annual  Support  Service:  MOBETIZE  shall  provide  the  services  listed  in  Section  6  of  this  Schedule  C  and

described  in  Attachment  I as  Level  3  Support  Services.   Licensee  is  responsible  for  acquiring and  providing

for  adequate  technical  and  organizational  competence  to  carry  out  the  level  1  and  level  2  responsibilities

independently   of   MOBETIZE,   including   without   limitation,   software   management   and   facilities   and

operational  management  functions.   Notwithstanding  anything  contained  herein,  MOBETIZE   commits  to

provide  level  2  support  to  Licensee  and  its  Customer  for  a  period  of  at  least   6  months  (unless  mutually

agreed to a longer period )   for each of the three (3) first Customers of Licensee, commencing after Licensee

receives  acceptance  from  Customer   and  system  go-live.  An  indicative  example  of  the  scope  of  Licensee

responsibilities  is  provided  in  the  Attachment  I  as  level  1  and  level  2  responsibilities.    Annual  Support

Service  is  available  for  MOBETIZE  products  and  third  party  products.   Annual  Support  Service  for  Third

Party  Products,  is  provided  under  the  same  terms  and  conditions  as  for  MOBETIZE  Products  where  this  is

made possible by MOBETIZE’s support agreement with the respective Third Party.  MOBETIZE will assess

interaction with MOBETIZE Product  and co-ordinate and track Reported Issues as they relate to Third Party

Products.   All  Annual  Support  Service  shall  be  provided  for  a  minimum  time  period  of  twelve  (12)  months

(the  “Annual  Support  Period”).   The  initial  term  of  the  Annual  Support  Service  shall  be  for  a  period  of  one

(1) year (the “Initial Annual Support Period”).  Thereafter, the Annual Support Period shall automatically be

renewed  for  successive  twelve  (12)  month  periods  unless  the  parties  agree  in  advance  to  renew  for  some

other  period,  or  if  notice  is  given  by  either  party  to  the  other  of  their  desire  not  to  renew  the  Agreement  at

least 90 days prior to the expiration of the then current term.

4.    Subcontracting

MOBETIZE  shall  be  entitled  to  subcontract  all  or  a  portion  of  its  software  support  obligations  to  one  or

more  subcontractors,  as  long  as  Licensee  is  previously  informed  of  the  subcontractor’s  identity  and  has  no

objection  to  it.  In  any  event,  despite  the  subcontracting,  MOBETIZE  remains  fully  responsible  for  all  the

acts and omissions of subcontractor as per this Agreement.

6.    Annual Support Service

Annual  Support  Service  is  available  for  the  current  and  immediately  prior  Major  Releases  of  the  supported

Product  identified  herein.   Annual  Support  Service  activities  are  described  in  detail  in  Attachment  I.   Under

Annual  Support  Services,  MOBETIZE  provides  Licensee  with  the  services  and  deliverables  described

herein  but  is  not  responsible  for  the  exclusions  also  described  herein.   Licensee  is  responsible  for  meeting

the pre-requisites described below in Section 6.1.

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EXHIBIT 10.1

MOBETIZE USA Inc.

6.1  Prerequisites

a.    Licensee  shall  make  its  computer  environment  available  for  Site  Certification,  participate  in  such  Site

Certification,  undertake  necessary  remedies  as  identified  through  the  certification  process  to  achieve

Site   Certification,   and   have   maintained   the   certified   computing   environment   to   Site   Certification

standards  until  commencement  of  the  Software  Support  Order.   MOBETIZE  will  provide  Professional

Services  at  its  then  current  rates  to  perform  the  certification,  such  services  not  to  be  unreasonably

withheld;

b.    Licensee  shall  establish  Communications  channel  and  remote  access  software,  both  as  specified  by

MOBETIZE, in order that MOBETIZE support personnel have secure access to the Licensee’s computer

configuration  related  to  the  Product  for  the  purpose  of  providing  the  support  services  contemplated

herein.

c.    Licensee  shall  establish  tape  back-up  facilities  with  appropriate  formats  and  compatibility  as  specified

by  MOBETIZE,  suitable  for  producing  copies  of  the  Licensee’s  Production  Database  and  other  related

computer files as needed to provide the support services contemplated herein.

Furthermore,  Licensee  agrees  to  meet  these  prerequisites  by  the  Support  Start  Date  and  to  maintain  these

conditions throughout the Support Term.

6.2. Service Scope

a.    Production:  provides  Licensee  with  the  technical  support  and  information  needed  to  operate  Product

applications for Licensee’s designated end user support personnel;

b.    Services  required  by  Licensee  for  implementation  are  excluded  from  the  Annual  Support  Service  and

can be requested as Time and Materials.

6.3. Call Windows

The  standard  Call  Window  is  7:00am  to  5:00pm  Pacific  Standard  Time  or  Pacific  Daylight  time  when  this

adjustment  is  in  effect  in  the  Pacific  Time  Zone.    For  critical  production  Reported  Issues  the  critical

production Call Window is 24 hours for cell phone contact and call back service.

6.4 Problem Response Time Table

a.    MOBETIZE  will  achieve  the  response  times  indicated  below  for  Reported  Issues.   Reported  Issues  will

be  dealt  with  based  on  the  Problem  Severity  Classifications  as  defined  in  Section  10  and  providing  that

the  Licensee  supplies  all  inputs  to  MOBETIZE  in  accordance  with  Attachment  I  for  the  support  level

services as agreed by MOBETIZE and the Licensee on the Software Support Order.

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EXHIBIT 10.1

MOBETIZE USA Inc.

Problem/   Reported   Call Back/

Assigned

Work Around

Permanent

Status Update

Issue Severity

Acknowledge

Correction

(based on

Problem Severity

as defined in

section 10)

Critical  Production     1 hour

1 hour

4 hours

2 day

Every 4 hours

Impact

High      Production     2 hours

Within 4 hours

8 hours

3 days

As available

Impact

after call back

Medium

Within 1 Business

Within 1 business

Within   5   business     30 days

As available

Production Impact

day during

day

days

Standard Call

Window

Low

Production     Within 1 business

As prioritized by

None

Next Update

None

Impact

day during

MOBETIZE

Standard Call

Window

b.    Both  parties  shall  engage  in  reporting,  tracking  and  handling  Reported  Issues  in  accordance  with

processes  and  procedures  provided  to  Licensee  in  writing  and  published  by  MOBETIZE  from  time  to

time and which includes the assignment of a unique number to the Reported Issue for tracking purposes.

c.    MOBETIZE shall notify Licensee if any Reported Issue  has  been fixed by MOBETIZE in a more  recent

software Release of the Product by providing Licensee with the Software Release number.

d.    Where  MOBETIZE  deems  it  necessary  to  analyze  a  copy  of  the  Licensee’s  Product  and  its  related

Production  Database  in  order  to  recreate  a  Reported  Issue,  and  subject  to  Section  5.2  of  the  Agreement,

Licensee  will  deliver  to  MOBETIZE  promptly  and  at  Licensee’s  cost  current  backup  tapes  of  Product

and  its  related  Production  Database,  in  accordance  with  published  tape  specifications  provided  to

Licensee in  writing and published by MOBETIZE from time to time, provided that MOBETIZE will not

produce  any  copies  of  such  tapes  without  the  Licensee’s  prior  written  consent  and  will  return  all  such

tapes (including any copies thereof) to Licensee forthwith upon receipt of written notice by Licensee.

6.5.  Remote Support Access

In  the  event  that  Licensee  request  MOBETIZE  assistance,  and  in  order  to  avoid  an  on-site  visit  where  such

visit  may  not  be  required  in  order  to  resolve  a  Reported  Issue,  MOBETIZE’s  technical  support  staff  may

provide  support  through  Licensee’s  remote  access  to  operate  the  applicable  computer  remotely  in  order  to

diagnose and repair technical problems.

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EXHIBIT 10.1

MOBETIZE USA Inc.

6.6.  Bulletins

MOBETIZE  will  publish  bulletins,  as  it  deems  necessary  from  time  to  time,  strictly  as  an  advisory  service

for those Licensees who may be affected by the information contained in the bulletin.

6.7.  Patches

MOBETIZE  will  provide  reasonable  assistance  to  Licensee  in  Licensee’s  efforts  to  correct  software  logic

errors  in  the  Product  by  advising  of  suitable  technical  or  operational  process  either  to  circumvent  or  avoid

the error (“work around”), or by releasing a Patch on the condition that:

a.    Licensee  describes  with  specificity  the  nature  of  the  suspected  error  and  the  circumstances  in  which  it

occurs; and,

b.    MOBETIZE, using its reasonable efforts, is able to reproduce the Reported Issue; and,

c.    The  Reported  Issue  has  not  already  been  fixed  by  MOBETIZE  in  a  more  recent  release  of  the  Product

than the release used by the Licensee.

7.    Maintenance Release

MOBETIZE  will   prepare  Maintenance  Release  periodically  and  will  prepare  and  remotely  implement

Releases  as  they  are  released  for  general  availability.   Licensee  shall  implement  Maintenance  Release  in

their  entirety  in  the  order  in  which  they  are  released  by  MOBETIZE  as  indicated  by their  sequential  release

number.

8.     Version and Major Releases

Version  and  Major  Releases  will  made  available  to  Licensee  by  MOBETIZE  from  time  to  time,  as  they

become generally available.   It is important that Licensee implement the Version and Major Releases, which

provide  upgraded  capabilities  to  the  Product.   The  cost  of  implementing  any  Version  and  Major  Releases  is

the  responsibility  of  Licensee.    Both  parties  agree  to  exert,  commercially  reasonable  efforts  in  order  for

Licensee   to   remain  using  the  Current   Release   or   immediately  prior   Major   Release  of   Product   as   its

Production  Database.   Licensee  shall implement Version and  Major  Releases in their  entirety in the order in

which they are released by MOBETIZE as indicated by their sequential release number.

9.    Exclusions

The  following  support  activities  are  specifically  excluded  as  part  of  the  Annual  Support  Service  and

MOBETIZE  shall  have  no  obligation  to  perform  these  activities  on  Licensee’s  behalf.   Should  MOBETIZE

perform any of these services upon request by Licensee, it will be done on a Time and Materials basis:

a.    Correction  of  problems  and  assistance  regarding problems  caused  by  operator  errors  such  as  entering  of

incorrect  data,  use  of  incorrect  data  for  posting,  not  following operating and backup procedures or  other

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26

EXHIBIT 10.1

MOBETIZE USA Inc.

errors   resulting  from  nonconformance   to   the  recommended  usage  of  the  Product  as  published  by

MOBETIZE in its Documentation and as supplemented from time to time by Bulletins;

b.    Correction   of   problems   and   assistance   regarding   problems   with   Customization,   new   application

development or with derivative products created by Licensee;

c.    Changes   required   for   Licensee   to   comply  with   new   or   amended   regulations   set   by   governments,

regulatory authorities or other third parties;

d.    Correction  of  problems  and  assistance  regarding  problems  resulting  from  breaches  to  Licensee  security

of the Product from internal or external agents, known or unknown to the Licensee;

e.    End User education and training;

f.     Consulting services;

g.    Acceptance  testing  or  installation  of  changed  software  delivered  to  Licensee  per  sections  6.7,  7  or  8  of

this Schedule C Notwithstanding anything contained herein, if Licensee is required to do an upgrade and

this  upgrade  causes  any  operational  changes  and  Licensee  is  required  to  do  additional  testing,  it  will  be

considered part of the Annual Support Service, therefore no additional fees shall be charged.

h.    Support  related  to  failure  of  the  Licensee  to  meet  and  maintain  the  Full  Support  Service  pre-requisites

described in Section 6.1 of this Schedule C;

i.     Support related to Incompatible Configurations for:

1.    Software  support  services  provided  by  MOBETIZE  for  those  parts  of  Products  which  are  experiencing

malfunctions  or  difficulties  in  connection  with  the  Incompatible  Configuration,  provided  those  parts  of

Products are identifiable and can be so isolated

2.    Correction  of  errors  attributable  to  the  computer  configuration or deviations  from standards used for the

Site  Certification  including,  but  not  limited  to,  hardware  products,  third  party  software  products  or

services;

3.    As long as Licensee continues to use the Incompatible Configuration.

10.  Problem Severity Classifications

MOBETIZE  shall  make  every  effort  to  reduce  the  severity  level  so  that  system  operations  are  restored  or  a

technical,  operational  or  procedural  method  of  working  around  the  Reported  Issue  (“Work  Around”)  is

installed as soon as possible following receipt of notice from Licensee. Where appropriate, MOBETIZE will

work full time until the issue is resolved or the severity reduced; this may include or require a system Patch.

The  following  are  MOBETIZE’s  Problem  Severity  Classifications  for  Reported  Issues  encountered  in

production use of Product as per section 6.4:

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EXHIBIT 10.1

MOBETIZE USA Inc.

Critical Production Impact

Reported Issue meets the following criteria:

     System is down;

     Basic  fundamental  capabilities  necessary  to  run  the  business  to  be  inoperable;  rating,  billing,  invoicing

etc and there is no work around available;

     Caused incorrect financials data to be stored on the database and there is no work around available;

     Caused incorrect financial results to be visible to the Licensee and there is no work around available.

High Production Impact

Reported Issue meets the following criteria:

     System is down on an intermittent basis but there is a work around available;

     Basic  fundamental  capabilities  necessary  to  run  the  business  to  be  inoperable;  rating,  billing,  invoicing

etc. and there is a workaround available.

     Caused incorrect financial data to be stored on the database and there is a work around available;

     Caused incorrect financial results to be visible to the Licensee and there is a work around available;

Medium Production Impact

Reported Issue meets the following criteria:

     Internal reporting or financial data is incorrect but the data is accessible otherwise by a work around;

     Caused  incorrect  financial  results  to  be  visible  to  Licensee  and  the  work  around  is  corrective  (does  not

prevent the situation from occurring but corrects the situation afterwards).

Low Production Impact

Reported Issue meets the following criteria:

     A question related to business functionality and process;

     All other production related reported issues in routine maintenance priority.

In  this  context,  resolution/disposition  does  not  necessarily  imply  “fixing”  the  Reported  Issue.  MOBETIZE

may  determine  that  a  Reported  Issue  is  not  a  malfunction  of  the  Product,  or  may  release  the  correction  as

part of a Future Maintenance release.

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EXHIBIT 10.1

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Attachment I

Product Annual Support Service

MOBETIZE Responsibilities:

Note:  all  Level  2  and  3  issues  must  be  written  and  reported  in  English  and  reproduced  in  a  supported

Language  Product  version  (i.e.  English)  if  necessary.  Issues  are  reported  to  the  MOBETIZE  Support  Desk

by way of emails, telephone calls and/or fax from Licensee.

Level 2 - Site Software Management

Site  software  management  service  includes  responsibility  for  managing  communication  between  Product

software users including Help Desk, Site Operations and Level 3 for all application software issues.

1.    Technical advice, counsel and answers to appropriate questions on product usage and function;

2.    System operation procedure and configuration advice;

3.    Act as an escalation point for Help Desk and Site Operations;

4.    Correction of technical problems (fixes) related to Product or to the enhancements and modifications;

5.    Provide procedural, technical, operational and development work around to other teams;

6.    Timely  escalation  to  Level  3  Support  for  “critical”  and  “high”  Production  support  issues  that  cannot  be

resolved by level 1 and level 2 support personnel;

7.    Timely   assistance   to   Level   3   Support   including   but   not   limited   to   diagnosis,   “fix”   installation,

configuration management and data.

Level 3

This  is  the  highest  level  of  application  support  and  maintenance  and  is  provided  by  MOBETIZE’s  Support

Team.    The  Licensee  support  team  has  priority  access  to  MOBETIZE  key  technical  specialists  including

those  in  the  Product  Research  and  Development  group.  Level  3  Support  provides  last  recourse  technical

assistance to resolve End User problems.  Level 3 Support encompasses:

1.    Problem logging /prioritizing /monitoring /escalating and reporting;

2.    Problem analyzing /recreating /resolving /dispatching and providing a work around when necessary;

3.    New  software  releases  of  core  product  application  (as  applicable)  to  provide  enhanced  application

function, at mutually agreed upon terms, and problem correction;

4.    Product  correction  and  assistance  with  system work  around.   Core  Product  and  engine  problems  will  be

resolved   through   an   appropriate   combination   of   workaround,   patches   and   Product   Maintenance

Releases;

5.    Notification to users of special processes required by the system on an ongoing or periodic basis;

6.    Priority access to the following Time and Material services:

(a)  Advanced  operations,  application  production  and  maintenance  assistance  for  “Critical”  and  “High”

production issues during system implementation;

(b)  advanced  operations,  application  production  and  maintenance  assistance  for  “Critical”  and  “High”

non-core production issues once the system is in operation;

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MOBETIZE USA Inc.

(c)  Advanced  application  development  and  maintenance  assistance  for  core  product  “Critical”  and

“High” application development issues; emergency environment support; on-site assistance.

Licensee Responsibilities

Level 1 Licensee Responsibilities

The  Licensee  is  responsible  for  acquiring  and  providing  their  own  adequate  technical  and  organizational

competence to carry out the computer operations and software management responsibilities independently of

MOBETIZE.    In  some  cases,  Licensee  may  outsource  these  responsibilities  to  a  qualified  third  party  as

agreed  upon  by  MOBETIZE.    The  following  general  descriptions  of  level  1  and  2  responsibilities  are

provided as an indicative example only:

     Level 1 - Licensee Help Desk - Site Operations

Level 1 - Help Desk - Site Operations

Help   Desk   service   is   an   operational   interface   between   the   End   Users   and   the   Computer   Operations

providers.  It may include such responsibilities as:

1.    Help Desk initial Problem Determination;

     Problem logging/ tracking/ reporting;

     Problem dispatch as necessary;

2.    Handle all  End User  issues including, report  delivery, ordering of special  reports, special runs, customer

data, input errors, and special circumstances as agreed upon by both parties;

3.    Process Customer information maintenance items such as customer profiles and rate changes etc;

4.    Coordinating all third party problem resolution.

Site  Operation  service  includes  the  ongoing  responsibility  for  operations  of  all  equipment  and  facilities

required by the Customer to operate Product.  It includes the following:

1.    Installation,   operation   and   maintenance   of   the   computing   “configuration”   including   all   hardware,

network,   local   area   network,   system   software,   database   management   software   and   all   other

environmental systems such as power, air conditioning and security (physical and computer);

2.    Tracking all operational and environment changes;

3.    Initiating, monitoring and completion of all required computer operations tasks;

4.    Completing all routine operating and semi routine operating steps including;

     Day end; month end, period end, year end;

     Rating, Billing and reporting processing;

     Interface to other systems and data backup;

     Operational recovery plans (hardware, network, disaster recovery, system amends);

     Installation of new application (customizations) software;

     Special runs (patches, special customer reports etc)

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EXHIBIT 10.1

MOBETIZE USA Inc.

Schedule D-

Customization Software Development, Pricing Schedule

Software Development, Customization and Implementation Pricing

MOBETIZE    Software    Development,    Customization    and    Implementation

Projects

Project Description

Development Type

Delivery

Price

Date

***

***

***

***

***

***

***

***

***

***

***

***

***

***

***

MOBETIZE 5.0 on going Professional Services Pricing Structure

Product Description

***

***

***

***

***

***

***

Project Customization and Implementation Team

MOBETIZE  is  providing  a  project  team  of  8-10  highly  skilled  and  experienced  professionals,  backed  up

by solid payments and telecommunications and billing knowledge.

Project Manager

___________________

***  Certain information on this page has been omitted and filed separately with the Securities and

Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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The Project Manager duties are:

     Initial business flow analysis;

     Project manage and coordinate activities between TATA and MOBETIZE;

     Schedule regular meetings;

     Manage project plan;

     Project risk mitigation;

     Monitor milestones.

User Requirements Engineer/Business Analysts

The User Requirements Engineer duties are:

     Definition of business requirements;

     Documentation of all configuration needs;

     Complete an analysis of any gaps;

     Manage timelines and deliverables;

     Complete system analysis of table structures and reporting requirements

     Deliver detailed System Analysis for table structures and process flows

     Fully document all TATA business Rules

     Define all use case and testing scenarios

Solutions Architect/Engineers and Programmer Analysts/QA

The Software Engineers duties are:

     Design overall solutions strategy/architecture;

     Evaluate Gaps;

     Assess all API integrations;

     Review all input/output and table structures for data integrity

     Develop all business rules and table configurations based on specific TATA requirements

     Testing and Quality Assurance

     System installation and implementation

     QA

     System Acceptance

     System go-live

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SCHEDULE E

Company Compliance Certification

As  a  matter  of  policy,  Tata  Communications  Limited  and  its  subsidiaries  (“TCL”)  do  not  pay  and  do  not  condone  paying

bribes  to  anyone.  Companies  engaged  by  TCL  are  prohibited  from  giving,  offering,  authorizing  or  participating  in  any

bribes,  kickbacks,  or  similar  payments  or  consideration  of  any  kind,  whether  at  home  or  abroad,  to  any  person  or  entity

(including  but  not  limited  to  any  customers  or  potential  customers,  government  officials,  political  parties,  candidates  for

political office or any intermediaries such as agents or attorneys) in order to:

• Influence official acts or decisions of that person or entity;

• Obtain or retain business for, or direct business to, TCL; or

• Secure any improper advantage.

Companies  engaged  by  TCL  are  also  prohibited  from  providing  gifts,  meals  entertainment  or  anything  of  value  to  any

person or entity in connection with TCL business unless it is provided in accordance with TCL policies.

It is  also  TCL's  policy to strictly comply with  all applicable  Anti-bribery Laws, including, but not limited to, the U.S. Foreign

Corrupt  Practices  Act  (“FCPA”).  The  FCPA  and  similar  laws  in  other  jurisdictions  broadly  prohibit  payments  or  offers  to

make  payments  to  government  officials  or  political  parties  in  order  to  obtain,  retain  or  direct  business.  For  purposes  of

this  Certification,  a  “government  official”  includes  any  official  or  employee  of  a  government  agency,  regulatory  authority

or  entity owned  or  controlled  by the  government,  any political candidate or member of  a political party, and any official or

employee  of  a  public  international  organization  (e.g.,  United  Nations,  World  Bank).  For  purposes  of  this  Certification,  an

“immediate  family  member”  means  an  individual's  spouse,  parents,  children,  and  siblings  and  the  spouses  of  his  or  her

parents, children, and siblings.

Other  Anti-bribery Laws,  such  as  the  U.K.  Anti-bribery Act,  as  well as  many local laws,  prohibit  bribes  paid to employees

of  private  commercial  entities,  and  as  noted  above,  TCL  policy  forbids  the  payment  of  bribes  to  any  party,  whether

associated  with  a  private  commercial  entity  or  a  government  entity,  regardless  of  whether  the  payment  is  legal  in  the

jurisdiction in question.

CERTIFICATION

I, hereby certify, on behalf of MOBETIZE (“Company”) that:

1.  I  am  authorized  to  enter  into  this  contract  on  behalf  of  the  Company  and  to  make  the  following  representations  and

warranties on behalf of the Company.

2.  I  have  read  and  understand  the  prohibition  on  bribery  imposed  as  a  matter  of  TCL  policy  and  under  the  laws

described  above,  and  the  Company  has  complied  and  will  continue  to  comply  with  TCL  policy  and  all  applicable  Anti-

bribery Laws.

3.  Except  as  otherwise  disclosed  to  TCL  in  writing  as  an  attachment  hereto,  (a)  none  of  the  Company's  directors,

officers,  senior  managers,  consultants,  shareholders,  partners  and/or  owners,  and  (b)  none  of  their  immediate  family

members, is a Government Official (as defined above);

4.  The  Company  and  its  directors,  officers,  senior  managers,  consultants,  shareholders,  partners  and/or  owners  have

not  taken  and  will not  take  any action  in  furtherance  of an  unlawful offer, promise, or payment to or for the  benefit of  any

person or entity, including any Government Official;

5.  The  Company  and  its  directors,  officers,  senior  managers,  consultants,  shareholders,  partners  and/or  owners  shall

not  use  any fees,  commissions  or  other  payments  made  to  it  by  TCL  in  violation  of  TCL  policy  or  any  Anti-bribery  Laws;

and  policy  available  at  http://www.tatacommunications.com/sites/default/files/Designed_AntiCorruption_Policy.pdf  and

agrees to comply with the same in the performance of the services.

Software License Agreement

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EXHIBIT 10.1

MOBETIZE USA Inc.

6.    The    Company    has    caused    its    relevant    personnel    to    read    the    Tata    Code    of    Conduct    available    at

http://www.tatacommunications.com/sites/default/files/CodeConduct.pdf and the Tata Communications Anti-corruption

Signed this_______1st________ day of__February____________, 2017______________

Company

Witness

/s/ Ajay Hans

/s/ Kent Carasquero

Please Print Name: Ajay Hans

Please Print Name: Kent Carasquero

Software License Agreement

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EXHIBIT 10.1

MOBETIZE USA Inc.

SCHEDULE F

DATA PROTECTION SCHEDULE

1.

DEFINITIONS:

1.1       “Applicable  Law”  means  any  law,  statute,  declaration,  decree,  directive,  legislative  enactment,

order,  ordinance,  regulation,  rule  or  other  binding  restriction to which any  Party  to  the  Agreement

is subject and which is applicable to a party’s obligation under this Agreement;

1.2

“Personal  Data”  means  any  information  or  set  of  information  relating  to  a  person  that  identifies

such  person  or  could  be  used  to  identify  such  person,  including  without  limitation,  a  person’s

name, address, telephone number, email address or call data records;

1.3      “TC  Personal  Data”  means  any  Personal  Data  from  or  about  any  Tata  Communications  entities

employees,  customers,  contractors  or  others  that  Vendor  may  have  access  to  or  receive  from  TC

pursuant to this Agreement;

1.4      “Privacy   Laws”   means   any   applicable   law,   regulation   or   binding   policy   of   any   governmental

authority that relates to the security and protection of Personal Data;

1.5      “EU   Standard  Contractual  Clauses”  shall  mean  the  standard  contractual  clauses  issued  by  the

European Commission for the  transfer  of  Personal  Data to countries  that are not recognized by  the

Commission as providing adequate protection for such Personal Data;

1.6

Expressions  "Data  Subject",  “Data  Processor”, “Data Controller”, “Process”  and  “Processing”  shall

have  the  meanings  ascribed  to  them  by  Directive  95/46/EC  of  the  European  Parliament  and  the

Council of the European Union;

1.7

Personal  Data  Security  Breach  shall  mean  (i)  the  loss  or  misuse  (by  any  means)  of  any  TC Personal

Data;   (ii)   the   inadvertent,   unauthorized   and/or   unlawful   processing,   destruction,   disclosure,

corruption,  modification,  sale  or  rental  of  any  TC  Personal  Data;  or  (iii)  any  other  act  or  omission

that compromises the security, confidentiality, or integrity of TC Personal Data.

1.8

Vendor  shall  mean  MOBETIZE,  supplier,  reseller  and/or  any  entity  that  supplies  services  and/  or

materials to any Tata Communications entity.

2.

TERMS AND CONDITIONS:

The following terms and conditions shall apply with respect to all TC Personal Data:

2.1

Generally:  Parties  acknowledge  that  with  respect  to  any  TC  Personal  Data  processed  under  this

Agreement,  TC  is  the  Data  Controller  and  Vendor  the  Data  Processor.  Vendor  acknowledges  that

pursuant  to applicable  Privacy  Laws,  TC is required to obtain certain undertakings from  the Vendor

with regard to the collection, use, storage, disclosure, transfer and protection of Personal Data.

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MOBETIZE USA Inc.

2.2

Restrictions  on  Use:  Vendor  shall  ensure  that  all  TC  Personal  Data  it  receives,  stores,  and  collects

pursuant  to  this  Agreement,  is  processed  only  in  accordance  with  TC's  instructions  from  time  to

time,   and   shall   be   accessed   and   used   by   Vendor   only   to   perform   its   obligations   under   this

Agreement,  and  as  specifically  permitted  under  this  Agreement  or  as  otherwise  instructed  in

writing from time to time by TC.

2.3

Vendor Personnel: Only authorized employees of Vendor, who have a legitimate business need to

meet the Vendor's obligations herein, shall  be provided access to TC Personal Data and such access

is  limited  to  such  part  or  parts  of  the  TC  Personal  Data  as  is  strictly  necessary  for  performance  of

the   duties   of   an   authorized   employee   of   the   Vendor.   Vendor   shall   implement   all   measures

reasonably  necessary  to  ensure  that  its  personnel  are  informed  of  the  confidential  nature  of  TC

Personal  Data  and  comply  with  the  obligations  set  out  herein,  including  providing  its  personnel

with  the  necessary  training  so  that  such  persons  can  correctly,  lawfully  and  safely  process  TC

Personal Data.

2.4

Disclosure  to  Third  Parties:  Vendor  is  not  authorized  to  disclose  or  transfer  TC  Personal  Data  to

any  third  party  without  prior  written  approval  of  TC.  Any  such  approval  granted  by  TC  may  be

subject  to  such  conditions  as  TC  deems  appropriate,  including  any  requirement  that  the  proposed

third  party  recipient  of  TC  Personal  Data  should  enter  into  a  data  processing  agreement  directly

with   TC   or   with   the   Vendor.   Such   Data   processing   agreement   may   consist   of   EU   Standard

Contractual  Clauses  or  terms  that  are  substantially  the  same  as  the  obligations  contained  in  this

Schedule.  Vendor  shall  remain  fully  responsible  for  the  acts  and  omissions  of  its  agents,  affiliates,

vendors,   subcontractors  and/or  any  third  party  with  whom  it  contracts  or  who  Processes  TC

Personal Data on Vendor’s behalf.

2.5

Legal  and  Regulatory  Compliance:  While  processing  any  TC  Personal  Data,  Vendor  shall  comply

with  all  applicable  Privacy  Laws.  Upon  TC’s  request,  Vendor  shall  enter  into  appropriate  data

transfer  agreements  with  TC  as  needed  and  as  mutually  agreed  upon  to  satisfy  cross-border

transfer   obligations   relating   to   Personal   Data,   such   as   the   EU   Standard   Contractual   Clauses

between  Data  Controllers  and  Data  Processors,  or  other  similar  agreements  relating  to  other

countries.  Vendor  shall  take  any  other  steps  reasonably  requested  by  TC  to  assist  TC  in  complying

with  any  notification,  registration or  other  obligations applicable  to TC or  any  of its Affiliates under

Privacy Laws, with respect to processing of Personal Data under this Agreement.

2.6

Cross-border  transfer  of  TC  Personal  Data:  Vendor  shall  not,  and  will  procure  that  its  affiliates

and subcontractors shall  not, transfer TC Personal Data out of a country or territory, except:

(a)   Between member states of European Economic Area;

(b)   Between  countries  or  territories  which  are  at  the  time  subject  to  a  current  finding  by  the

European  Commission  under  Article  25(6)  of  the  Directive  that  it  provides  adequate  protection

for Personal Data within the meaning of Article 25(2) of the Directive;

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EXHIBIT 10.1

MOBETIZE USA Inc.

(c)   To  a  person or organization that  has  certified to the  Safe  Harbor framework developed jointly  by

the US Department of Commerce in consultation with the European Commission;

(d)   If   the  transfer  is  covered  by  a  contract  between  the  data  exporter  (entity  transferring  the

Personal  Data)  and  the  data  importer  (entity  receiving  the  Personal  Data)  incorporating  the  EU

Standard Contractual Clauses; or

(e)   On  written  approval  of  TC  and  then  subject  to  any  additional  restrictions  reasonably  required  by

TC for compliance with Privacy Laws.

2.7

Audit  rights:  Vendor  shall  keep  a  record  of  any  processing  of  TC  Personal  Data  it  carries  out  on

behalf of TC and shall  provide TC with a copy of all  TC Personal  Data held by it in the format and on

the  media  reasonably  specified  by  TC.  Vendor  shall  provide  TC  and  its  authorized  representatives

the  right,  on  reasonable  notice  and  during  normal  business  hours  (except  if  TC  believes  that  the

Vendor  is  in  breach  of  any  of  its  obligations  herein),  to  access  and  inspect  the  systems  utilized  by

Vendor  to  process  TC  Personal  Data.  TC,  its  agents,  auditors  (internal  and external),  regulators and

other  representatives  as  TC  may  designate  (collectively,  Reviewers)  may  inspect,  examine  and

review  the  systems,  records,  data,  practices  and  procedures  of  Vendor  (and  its  subcontractors)

that  are  used in rendering the Services or pertain to the Services (collectively,  Security Reviews) to

verify   the   integrity   of   TC   Personal   Data   and   compliance   by   Vendor   with   the   data   privacy,

protection,  confidentiality  and  security  requirements  of  this  Agreement.  Vendor  shall  provide  TC

with   all   necessary  materials,  documents  and  other  information  to  enable  TC  to  confirm  that

Vendor has complied with its obligations herein.

2.8

Security: Vendor agrees and warrants that it shall:

(a)

take  appropriate  physical,  technical,  organizational  and  administrative  safeguards  to

protect  TC  Personal  Data  against  any  Personal  Data  Security  Breach  in  accordance  with  the

Privacy Laws[, including the law of [Insert Name of Member State] which implements Article 17

of  the  Directive]  and  shall  provide  TC  with  a  statement  of  the  technical  and  organizational

safeguards  adopted  in  order  to  meet  the  Vendor's  obligations  herein  (within  the  timescales

required by TC);

(b)

promptly  provide  TC  with  written  notice  any  Personal  Data  Security  Breach  affecting

TC  Personal  Data  processed  by  Vendor.  Such  notice  shall  summarize  in  reasonable  detail  the

impact of such Personal Data Security Breach; and

(c)

co-operate  fully  with  TC  to  investigate,  remediate,  and  mitigate  the  effects  of  the

Personal  Data  Security  Breach,  and  take  all  appropriate  corrective  action  including,  at  the

request of  TC  (and at  the  expense of Vendor where  the Personal Data Security  Breach is due  to

the  fault  of  Vendor),  providing  notice  to  all  persons  whose  Personal  Data  may  have  been

affected by the Security Breach.

Software License Agreement

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EXHIBIT 10.1

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2.9

Response  to  requests  and  enquiries:  Vendor  shall  promptly  comply  with  any  request  from  TC

requiring  the  Vendor  to  amend,  transfer  or  delete  any  TC  Personal  Data.  Vendor  must  inform  TC

promptly,  but  in  any  event  no  later  than  7  business  days  following  the  Vendor’s  receipt  thereof  (i)

of  any  inquiry,  demand  or  complaint  received  by  Vendor  from  a  Data  Subject  with  respect  to  TC

Personal   Data   processed   by   Vendor,   including   but   not   limited   to   requests   for   access   and/or

rectification,  and  all  like  requests,  and  Vendor  shall  not  respond  to  any  such  requests  unless

expressly  authorized  to  do  so  by  TC;  (ii)  to  the  extent  permitted  under  Applicable  Law,  any  judicial

or  administrative  order,  demand,  warrant,  subpoena  or  any  other  document  by  a  government

authority  seeking  access  or  disclosure  of  TC  Personal  Data.  Further,  Vendor  shall  fully  cooperate

with  TC  if  TC  wishes  to  limit,  challenge  or  protect  TC  Personal  Data  against  such  disclosure  or

access  and  with  respect  to  any  action  TC  takes  against  or  in  relation  to  an  inquiry,  demand  or

complaint.

2.10       Return/   Destruction   of   TC   Personal   Data:   Save   for   any   instructions   to   the  contrary,   at   the

termination  or  expiration  of  the  Agreement,  or  when  requested  to  do  so  by  TC,  Vendor must hand

over  to  TC  all  TC  Personal  Data  and  copies  thereof  or  if  requested  by  TC,  must  erase  or  destroy

such data in accordance with the requirements under Privacy Laws.

2.11       Appointment   of   Subcontractors:   Vendor   may   only   authorize   a   third   party   subcontractor   to

process the TC Personal Data, provided that:

(a)   the  Vendor  has  obtained  TC's  prior  written  consent  and  supplied  TC  with  full  details  of  such

subcontractor; and

(b)   the contract entered into between the Vendor and the subcontractor :

i.    is on terms which are substantially the same as those set out in this Agreement; and

ii.    terminates automatically on expiration or termination of this Agreement for any reason.

Software License Agreement

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EXHIBIT 10.1

MOBETIZE USA Inc.

SCHEDULE G

SAMPLE SOFTWARE ESCROW AGREEMENT

1.1.

At  an  escrow  agent  to  be  mutually  agreed  upon  by  the  Parties  (“Escrow  Agent”),  and  at  the  sole

expense  of  the  Licensee,  MOBETIZE  agrees  to  deposit  with  Escrow  Agent  one  copy  of  all  the  constituent

elements  of  the  Product,  including  but  not  limited  to  source  and  object  code  of  all  software  licensed  to

Licensee  in  connection  with  this  Agreement,  the  Software  Documentation  (as  defined  below), the  compiler,

libraries, end-user and administrator documentations, specifications and design documents.

1.2.

MOBETIZE  may,  from time  to  time, update,  improve  or  modify the  Product  licensed  to Licensee in

connection  with  this  Agreement.   MOBETIZE  agrees  to  deposit  or  cause  to  be  deposited  with  the  Escrow

Agent,  at  the  time  such  updates,  improvements  or  modifications  are  made,  one  copy  of  such  modified

constituent elements of the Product.

1.3.

The  occurrence  of  any  of  the  following  events  (“Release  Events”)  shall  provide  the  Licensee  the

right to request  the Escrow Agent  to release and deliver the contents of the escrow (“Escrow’s Contents”) to

the  Licensee,  and  MOBETIZE  hereby  agrees  that  Escrow  Agent  is  authorized  to  release  and  deliver  the

contents of the escrow to the Licensee upon the occurrence of any of the following events:

a. MOBETIZE ceases to carry on business;

b.  There  is  a  change  of  control  of  MOBETIZE  and  the  new  controlling  entity  does  not  agree  to  the  term  of

the Agreement;

c.  MOBETIZE  files  for,  or  becomes  a  party  to,  any  involuntary  bankruptcy,  and  does  not  remain  debtor  in

possession or  trustee of the estate, and its business is not continued by another corporation or entity who has

agreed to assume MOBETIZE’s obligations;

d.  MOBETIZE  fails,  or  ceases  to  provide,  the  warranty  (described  in  XXXXXXXX)  for  the  Product  under

this  Agreement  and  such  failure  is  not  cured  within  thirty  (30)  days  after  written  notice  thereof  from

Licensee to MOBETIZE;

f. All the key employees leave the company, under the following conditions and limitations:

•

Should all the key employees voluntarily leave before the end of the Agreement, or voluntarily leave

within  twelve  (12)  months  after  the  effective  date  of  the  Agreement  or  in  the  event  of  death or dismissal for

cause,  MOBETIZE  shall  give  a  written  notice  of  such  leave  within  five  (5)  days  to  Licensee,  and  shall

propose  a  replacement  within  thirty  (30)  days  following  the  announcement  to  Licensee.  Licensee  will  have

thirty  (30)  days  following  the  proposed  replacement  to  approve  or  refuse  the  replacement.  Upon  any

Licensee  refusal  of  proposed  candidate,  MOBETIZE  will  have  an  additional  thirty  (30)  days  to  find  and

receive Licensee approval of another replacement;

•

For the purpose of this Agreement, Licensee considers key employee to be Ajay Hans;

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EXHIBIT 10.1

MOBETIZE USA Inc.

1.4.

If, per  effect  of  clause 1.3, Licensee will  have  access  to the Escrow’s Contents, Licensee agrees that

it  will  use  the  Escrow’s  Contents  for  maintaining the  same  functionality and  developing new  functionalities

within Licensee Mobile Financing Services and associated services, before provided by the Product

For purposes of this Sample Escrow Software Agreement, “Software Documentation” shall  mean:

1-  Requirements  -  Statements  that  identify  attributes,  capabilities,  characteristics,  or  qualities  of  a  system.

This is the foundation for what will be or has been implemented.

2-  Architecture/Design  -  Overview  of  software.  Includes  relations  to  an  environment  and  construction

principles to be used in design of software components.

3- Technical Specifications - Documentation of code, algorithms, interfaces, and APIs.

4- End user - Manuals for the end-user, system administrators and support staff.

For  purposes  of  this  Sample  Escrow  Software  Agreement,  the  word  “Agreement”  shall  mean  the  “Software

Application   License,   Customization   Development   and   Service   Level   Agreement”   as   well   as   any

attachments,  Exhibits  and  Schedules  and  eventual  Amendments  (herein  all  collectively  referred  to  as  the

“Agreement”)

Software License Agreement

40

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