Document:

Exhibit105ZoetisEquityDeferralPlan

Exhibit 10.5

ZOETIS EQUITY DEFERRAL PLAN

(Effective as of November 1, 2014)
 

ARTICLE 1     
 
PURPOSE OF THE PLAN
This Plan is an unfunded plan of deferred compensation known as the “Zoetis Equity Deferral Plan.”  The purpose of this Plan is to provide a means by which an Eligible Employee may elect to defer receipt of some or all of his or her Restricted Stock Units and/or Performance Awards made under the Zoetis Inc. 2013 Equity and Incentive Plan.  For purposes of ERISA, this Plan is intended to be a “top-hat” plan maintained by the Company primarily for the purpose of providing deferred compensation to a select group of management or highly compensated employees, within the meanings of Sections 201(a)(2), 301(a)(3) and 401(a)(1) of ERISA.  
ARTICLE 2     
DEFINITIONS
The following words and phrases as used in this Plan have the following meanings:
2.1    Account.  The term “Account” means a Member’s individual account(s), as described in Section 4.1 of the Plan, containing amounts credited to the Member (and earnings and losses) under the Plan.
2.2    Award.  The term “Award” means an RSU Award or a Performance Award, as applicable.
2.3    Beneficiary.  For all Accounts, the term “Beneficiary” means the beneficiary on file with the Company for a Member’s Account(s) under the Plan or, if no effective beneficiary designation is on file, the person or entity who is the Member’s “Beneficiary” under the Qualified Plan.  A Member may designate a beneficiary for his or her Account(s) under the Plan by properly filing a beneficiary form with the Committee in accordance with the rules established by the Committee.
2.4    Board of Directors.  The term “Board of Directors” means the Board of Directors of the Company.
2.5    Code.  The term “Code” means the Internal Revenue Code of 1986, as amended.  Reference to a section of the Code includes the regulations issued thereunder.
2.6    Committee.  The term “Committee” means the Zoetis Savings Plan Committee.  Any reference to actions or decisions by “the Committee” shall include actions or decisions by any person or entity to whom the Zoetis Savings Plan Committee has delegated a particular function (to the extent such person or entity is acting within the scope of such delegated authority).

2.7    Common Stock.  The term “Common Stock” means the common stock of the Company, par value $0.01 per share.
2.8    Company.  The term “Company” means Zoetis Inc., a Delaware corporation, and any successor corporation.
2.9    Compensation Committee.  The term “Compensation Committee” means the Compensation Committee of the Board of Directors.
2.10    Deferred Stock Unit.  The term “Deferred Stock Unit” means a unit of measurement of a Member’s Account, with each such Deferred Stock Unit representing an interest equivalent to one share of Common Stock.
2.11    Disability.  A Member has incurred a “Disability” if the Member has a medically determinable physical or mental impairment that (i) can be expected to result in death or can be expected to last for a continuous period of at least 12 months, (ii) makes the Member unable to perform the material functions of his or her regular occupation (within the meaning of the Zoetis Long Term Disability Plan), and (iii) has resulted in the Member receiving disability benefits under the Zoetis Short Term Disability Policy and/or the Zoetis Long Term Disability Plan for at least three months.
2.12    Eligible Employee.  The term “Eligible Employee” means any employee of the Company or one of its subsidiaries or affiliates who:
(i)  is on the U. S. payroll;
(ii)  is either (x) an employee classified as Global Job Level 140 or above, or (y) a member of a select group of management or highly compensated employees of the Company who is designated by the Compensation Committee as an Eligible Employee; and 
(iii)  is eligible to receive or has received a Performance Award and/or a Restricted Stock Unit Award under the Equity Plan.
2.13    Employer.  The term “Employer” means the Company and any subsidiary or affiliate of the Company which employs an Eligible Employee.
2.14    Equity Plan.  The term “Equity Plan” means the Zoetis Inc. 2013 Equity and Incentive Plan, as it may be amended from time to time, and any successor arrangement under which the Company grants Performance Awards and/or Restricted Stock Units. 
2.15    ERISA    .  The term “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

2.16    Fair Market Value.  The term “Fair Market Value” shall have the meaning ascribed to such term in the Equity Plan.
2.17    Key Employee    .  The term “Key Employee” means a Member who is a “specified employee” as defined in Section 409A, as determined pursuant to the definition of the term “Key Employee” in the Zoetis Supplemental Savings Plan.  
2.18    Member.  The term “Member” means an Eligible Employee who has made a Restricted Stock Unit Deferral and/or a Performance Award Deferral and who has an amount credited to his or her Account.
2.19    Payment Option.  The term “Payment Option” means the following forms of payment under which amounts credited to a Member’s Account may be paid upon his or her Separation from Service: (i) single sum payable in the January following the Member’s Separation from Service, or (ii) substantially equal annual installment payments over a period of two (2) to twenty (20) years, as elected by the Member, with the first installment to be paid the January following the Member’s Separation from Service.  Where payment of the Account is made in installment payments, each installment shall be a fraction of the number of Deferred Stock Units credited to such Account as of the applicable valuation date, the numerator of which is one (1) and the denominator of which is the total number of installments remaining to be paid at that time (rounded down to the next whole Deferred Stock Unit, if applicable), including the installment payable as of the applicable valuation date.  
2.20    Performance Award.  The term “Performance Award” means a Performance Award granted under the Equity Plan, other than Bonus Compensation and Sales Incentives (as such terms are defined under the Zoetis Supplemental Savings Plan).
2.21    Performance Award Deferral.  The term “Performance Award Deferral” means the portion of a Member’s Performance Award that the Member elects to defer under the terms of the Plan.
2.22    Plan.  The term “Plan” means this Zoetis Equity Deferral Plan, as set forth herein and as amended from time to time.
2.23    Plan Year.  The term “Plan Year” means the calendar year.
2.24    Qualified Plan    .  The term “Qualified Plan” means the Zoetis Savings Plan.
2.25    Restricted Stock Unit or RSU    .  The term “Restricted Stock Unit” or “RSU” means a Restricted Stock Unit granted under the Equity Plan.
2.26    RSU Deferral.  The term “RSU Deferral” means the portion of a Member’s Restricted Stock Unit Award that the Member elects to defer under the terms of the Plan.

2.27    Section 409A.  The term “Section 409A” means Section 409A of the Code and the regulations and other guidance issued thereunder by the U.S. Treasury or Internal Revenue Service.
2.28    Separation from Service.  The term “Separation from Service” means a “separation from service” (within the meaning of Section 409A) from the Company.
ARTICLE 3     
DEFERRAL ELECTIONS AND PAYMENT OPTION ELECTIONS
3.1    Deferral Elections.
(a)    RSU Deferrals.  On or before the December 31st of the calendar year preceding the date of grant of a Restricted Stock Unit Award (or within such shorter time as prescribed by the Committee), an Eligible Employee may elect to make an RSU Deferral with respect to the RSU Award (if any) to be granted to such employee in the following Plan Year.  Such deferral election must be stated as either 25%, 50%, 75%, or 100% of the Restricted Stock Units to be granted in such Award.  If the percentage elected by the Eligible Employee results in a fractional RSU, the amount to be deferred will be rounded down to the next whole RSU.  The deferral election will also be applied to all dividend equivalents credited under the Equity Plan with respect to the deferred portion of such RSU Award.  Each grant of RSU Awards shall be subject to a separate deferral election.  Any such deferral election must comply with all rules, forms and procedures established by the Committee in its sole and absolute discretion. 
(b)    Performance Award Deferrals.  On or before the December 31st of the calendar year that is at least 12 months before the end of the performance period for a Performance Award (or within such shorter time as prescribed by the Committee), an Eligible Employee may elect to make a Performance Award Deferral with respect to such Performance Award (for example, an election could be made no later than December 2016 with respect to a Performance Award having a performance period ending December 2017).  Such deferral election must be stated as either 25%, 50%, 75%, or 100% of the share units to be earned under such Award. If the percentage elected by the Eligible Employee results in a fractional share unit, the amount to be deferred will be rounded down to the next whole share unit.  The deferral election will also be applied to all dividend equivalents credited under the Equity Plan with respect to the deferred portion of such Performance Award.  Each grant of Performance Awards shall be subject to a separate deferral election.  Any such deferral election must comply with all rules, forms and procedures established by the Committee in its sole and absolute discretion.
(c)    Limitations on Deferral Election.  
(i)  Performance Award Deferrals.  Notwithstanding the foregoing provisions of paragraph (b) of this Section 3.1, no deferral election may be made with respect to a Performance Award unless such Award satisfies the definition of “performance-based compensation” as defined for purposes of Section 409A, and may not be made with respect to any portion of such Award which is “readily ascertainable” (as such term is used for purposes of 

Section 409A) at the time that the deferral election is made.  The Compensation Committee may, in its absolute discretion, require that any one or more Performance Awards be subject to an earlier deferral election deadline than that set forth in Section 3.1(b) or not be available for a deferral election under such Section.
(ii)  Other Limitations.  Notwithstanding any other provision of this Section 3.1, a Member’s deferral election shall be cancelled to the extent required by Treasury Regulations on account of the Member having received a hardship distribution under the Qualified Plan.  
(iii)  Irrevocability.  Except as provided in Section 3.1(c)(ii), any deferral election under this Plan shall be irrevocable as of the date which is the last day by which the respective deferral election was required to have been made.
3.2    Payment Option Elections.  
(a)    Regular Payment Option Election.  An Eligible Employee may make a Payment Option election under this Plan at the time he or she elects to make an RSU Deferral or Performance Award Deferral under the Plan.  Such election shall be made from the forms of payment set forth in the definition of Payment Option in accordance with any rules, forms, or procedures established by the Committee in its sole and absolute discretion, and shall apply only to amounts deferred with respect to the particular RSU Award or Performance Award to which the deferral election applies, unless the Plan or the Committee provides otherwise.
(b)    Deemed Payment Option Election.  A Member who did not make a timely Payment Option election pursuant to Section 3.2(a) with respect to a particular RSU Award or Performance Award shall be deemed to have made a Payment Option election to receive all amounts deferred with respect to that Award in a single lump sum payment in the January after his or her Separation from Service, unless the Plan or the Committee provides otherwise.
(c)    Payment upon Specified Events.  Notwithstanding any Payment Option elected (or deemed elected) by the Member, upon the occurrence of any event or circumstance set forth in Article 5, the distribution of the Member’s Account shall be governed by the applicable provision of Article 5. 
3.3    Subsequent Payment Option Elections.   A Member may make one or more subsequent elections to change the Payment Option for amounts deferred with respect to one or more of the Member’s Awards, provided that any such election shall be effective only if the following conditions are satisfied:
(i)    The new election may not take effect for at least twelve (12) months after the date of filing the election;
(ii)    The election must be made at least twelve (12) months before payments would have otherwise begun;

(iii)    A distribution may not be made earlier than at least five (5) years from the date the distribution (or, with respect to installments, the first scheduled installment) would have otherwise been made; and
(iv)    The new election may not be made if the distribution with respect to such Award is scheduled to be made in installments and such installment distributions have begun.
ARTICLE 4     
INDIVIDUAL ACCOUNT
4.1    Creation of Accounts.  The Company will maintain an Account under the Plan in the name of each Member.  Each such Account may, in the discretion of the Committee, be divided into two or more subaccounts.  Each Member’s Account will be credited with Deferred Stock Units reflecting the Member’s RSU Deferrals and Performance Award Deferrals as of the date(s) on which distribution with respect to the underlying Restricted Stock Unit or Performance Award would have been made to the Member in the absence of such deferral elections.  Prior to such crediting to the Member’s Account, Restricted Stock Units and Performance Awards subject to deferral elections shall remain subject to all terms and conditions of the Equity Plan and the applicable award agreement (including any applicable time-based and/or performance-based vesting conditions, voting rights, entitlement to dividend equivalents, and adjustment of shares of Common Stock) except that the provisions regarding distribution and settlement of such awards shall be governed by this Plan.  Each Member’s Account will credited with additional Deferred Stock Units reflecting dividend equivalents, as described in Section 4.2(b) and will be debited with the amount of each payment or distribution made with respect to such Account.
4.2    Crediting of Deferred Amounts.  
(a)    Deferred Stock Units.  Unless otherwise determined by the Compensation Committee at or prior to the time a deferral election is made, amounts credited to a Member’s Account with respect to Restricted Stock Unit Deferrals or Performance Award Deferrals shall be credited to the Member’s Account as Deferred Stock Units. 
(b)    Dividend Equivalents.  If the Company declares a cash dividend on its Common Stock, a Member’s Account will be credited with additional Deferred Stock Units reflecting dividend equivalents.  The number of additional Deferred Stock Units which shall be credited on any dividend payment date shall be equal to (i) the per share cash dividend paid on the Common Stock on such date, multiplied by (ii) the number of Deferred Stock Units credited to such Account as of the record date for the applicable dividend payment (including Deferred Stock Units reflecting prior dividend equivalents), divided by (iii) the Fair Market Value of a share of Common Stock on the dividend record date. 

(c)    Changes in Capitalization.  Deferred Stock Units shall be adjusted in the same manner that outstanding Restricted Stock Unit awards under the Equity Plan are adjusted in the event of a “Change in Capitalization” as defined in the Equity Plan; however, no such adjustment shall affect the payment date of amounts deferred under this Plan.
4.3    Unfunded Plan.  No provision of this Plan shall require the Company or any other Employer to actually invest any amount in any “fund” or in any other investment vehicle.  The Plan is an unfunded plan that is not subject to the funding requirements of ERISA, meaning that there are no actual investments held in a trust.  
4.4    Section 16 Insiders.  Members subject to Section 16 of the Securities Exchange Act of 1934 shall be subject to such additional rules as may be required by the Company, the Compensation Committee, or the Committee for the purpose of compliance with applicable securities laws.
ARTICLE 5     
DISTRIBUTION OF ACCOUNTS
5.1    Timing of Distribution of Benefits.  Except as otherwise provided in this Article 5, a Member shall be paid the balance of his or her Account following his or her Separation from Service in accordance with the Payment Option(s) elected (or deemed elected) by the Member as permitted under the Plan.  
5.2    Form of Payment.  Unless the Compensation Committee determines otherwise, a Member’s Account shall be paid in Common Stock.  One share of Common Stock shall be distributed for each whole Deferred Stock Unit subject to the distribution, with fractional Deferred Stock Units paid in cash based on the Fair Market Value of the Common Stock on the distribution date.  Shares of Common Stock distributed under this Plan will be issued pursuant to, and subject to the additional terms and conditions described in, the Equity Plan.  
5.3    Taxes/Withholding.  Amounts payable under this Plan shall be subject to the deduction of any federal, state, or local income taxes, employment taxes, foreign taxes, or other taxes or deductions which are required to be withheld from such payments by applicable laws and regulations.  Members may satisfy applicable tax withholding obligations by (i) paying cash, (ii) electing to have the Company withhold shares of Common Stock otherwise deliverable to the Member sufficient to satisfy the minimum tax withholding obligation, or (iii) pursuant to such other procedures as may be specified by the Compensation Committee from time to time.  In the event a Member fails to satisfy the applicable withholding obligations with respect to a distribution by paying cash prior to such distribution, the minimum tax withholding obligations shall be satisfied by withholding shares of Common Stock otherwise deliverable to the Member. 

An Employer may withhold any taxes or other deductions required by applicable laws and regulations with respect to any deferral, accrual or amount payable under this Plan from other compensation of the Member in the year in which such tax liability or other required deduction accrues or, if permitted by applicable laws and regulations, in the year following the year in which such tax liability or other required deduction accrues.  Without limiting the foregoing, if all or part of an Account becomes subject to FICA tax or any state, local or foreign tax that applies to an amount deferred under the Plan before such amount is otherwise payable under the Plan, the Company may reduce the Member’s Account balance and distribute to the Member the amount necessary to pay such tax, together with any amounts required to be withheld for income tax under Code Section 3401 or under a corresponding state, local or foreign income tax provision with respect to such distribution. If a portion of the Member’s Account balance is includible in income under Section 409A, such portion shall be promptly distributed to the Member.
5.4    Delay for Key Employees.   Notwithstanding the Payment Option elected (or deemed elected) by a Member or any provision of the Plan to the contrary, distributions may not be made to a Key Employee upon a Separation from Service before the date which is six (6) months after the date of the Key Employee’s Separation from Service (or, if earlier, the January following the date of death of the Key Employee). Any payments that would otherwise be made during this period of delay shall be accumulated and paid on the day that is six (6) months following the Member’s Separation from Service (or, if earlier, the January following the Member’s death).
5.5    Mandatory Cashouts.  Notwithstanding any Payment Option elected (or deemed elected) by a Member, if the value of the Member’s Account and all other agreements, methods, programs, or other arrangements with respect to which deferrals of compensation are treated, along with the Member’s Account, as having been deferred under a single nonqualified deferred compensation plan under Treasury Regulation Section 1.409A-1(c)(2) is $10,000 or less as of the last business day of the calendar year of the Member’s Separation from Service, the Member’s Account shall be paid in a lump sum in the January following the Member’s Separation from Service. 
5.6    Disability.  Notwithstanding any Payment Option elected (or deemed elected) by a Member, if a Member incurs a Disability before or after the distribution of his or her Account has commenced but before his or her entire Account has been distributed, the balance of the Member’s Account shall be paid in a single lump sum distribution the January following the calendar year in which the Member has been determined to have incurred a Disability.  
5.7    Distributions upon Death.  Notwithstanding any Payment Option elected (or deemed elected) by a Member, if a Member dies before or after the distribution of his or her Account has commenced but before his or her entire Account has been distributed, the balance of 

the Member’s Account shall be paid in a single lump sum distribution the January following the calendar year in which the Member’s death occurs.  
5.8    Permitted Delays.  Notwithstanding the foregoing, to the extent permitted by applicable laws and regulations, including Section 409A, any payment on account of a Member under the Plan shall be delayed upon the Committee’s reasonable anticipation that (i) the making of the payment would violate federal securities laws or other applicable law, or (ii) the Company’s deduction with respect to such payment would be eliminated by application of Code Section 162(m). 
ARTICLE 6     
NATURE OF INTEREST OF MEMBER
Participation in this Plan will not create, in favor of any Member, any rights or lien in or against any of the assets of any Employer, and all amounts deferred hereunder and any other amounts allocated to any Account shall at all times remain an unrestricted asset of the Employer.  A Member’s rights to benefits payable under the Plan are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, or encumbrance.  Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship, between any Employer and a Member or any person, and each Employer’s promise to pay benefits hereunder shall at all times remain unfunded as to the Member.
ARTICLE 7     
ADMINISTRATION
7.1    Administrative Body.  This Plan will be administered by the Committee, except that certain responsibilities ascribed in the Plan to the Compensation Committee shall be performed by the Compensation Committee.  The Compensation Committee shall not have the power to delegate its responsibilities under this Plan.
7.2    Powers of the Committee.  Except where powers are specifically allocated to the Compensation Committee, the Committee’s powers under this Plan shall include, but are not limited to, the power to:
(a)    interpret the terms and provisions of the Plan and to determine any and all questions arising under the Plan, including without limitation, the right to remedy possible ambiguities, inconsistencies, or omissions by a general rule or particular decision; 
(b)    review and decide claims for benefits under the Plan and decide appeals of such decisions; 

(c)    adopt rules (including forms of deferral election and Payment Option election) consistent with the Plan, and generally to administer the Plan; and
(d)     delegate any of its powers under the Plan to any person or entity, including one or more employees of the Company.
7.3    Claims Procedure.  Any request by a Member or any other person for any benefit alleged to be due under the Plan shall be known as a “Claim” and the Member or other person making a Claim, or the authorized representative of either, shall be known as a “Claimant.”  The Committee has sole discretion to determine whether a communication from an individual shall be a Claim for purposes of this Section 7.3 and Section 7.4.  The Committee (and with respect to review of claims based in a determination of Disability, the reviewer) shall have full authority to interpret and apply, in their discretion, the provisions of the Plan.  The decisions of the Committee and reviewer shall be final and binding upon any and all Claimants, including, but not limited to, Members and their Beneficiaries, and any other individuals making a Claim or requesting review of a Claim through or under them, and shall be afforded the maximum deference permitted by law.  A Member may not maintain a court action over a disputed claim until he or she has exhausted the Plan’s claims procedures.
(a)    In General.  A Claimant may submit a written application to the Committee for payment of any benefit that he or she believes may be due him or her under the Plan, in accordance with Plan procedures.  Such application shall include a general description of the benefit which the Claimant believes is due, the reasons the Claimant believes such benefit is due and any information as the Committee may reasonably request.  The Committee will process the Claimant’s application within ninety (90) days of the receipt of the Claim by the Committee unless special circumstances require an extension of time for processing the Claim.  In such event, written notice of the extension shall be furnished to the Claimant prior to the termination of the initial ninety (90) day period but in no event shall the extension exceed a period of ninety (90) days from the end of such initial period.  The notice shall indicate the special circumstances requiring an extension of time and the date by which the Plan expects to render the final decision.  If the Committee has not determined the Claimant’s eligibility fora Plan benefit within this ninety (90) day period (one hundred eighty (180) day period if circumstances require an extension of time), the Claim is deemed denied.  A Claim is considered approved only if such approval is memorialized by the Committee in writing.
If a Claim is denied in whole or in part, the notice of denial shall set forth (i) the specific reason or reasons for the denial, (ii) specific reference to the pertinent Plan provisions on which the denial is based, (iii) a description of any additional material or information necessary for the Claimant to perfect the Claim and an explanation of why such material or information is necessary, (iv) an explanation of the Plan’s claim review procedure, and (v) an explanation that, if an adverse determination is made on review, the Claimant may have a right to bring civil action under Section 502(a) of ERISA.  Within sixty (60) days of the receipt of a notice of denial of a Claim in whole or in part or a deemed denial, a Claimant (i) may request a review upon written application to the Committee, (ii) may review documents pertinent to the Claim, and 

(iii) may submit issues and comments in writing to the Committee.  If a Claimant fails to file a request for review within 60 days of receipt of a notice of denial, the Claim will be deemed abandoned and the Claimant precluded from reasserting it. The Claimant shall be provided upon request and free of charge, reasonable access to all documents, records and other information relevant to the Claimant’s Claim for benefits.
The Committee will review a Claim for which a request for review has been made and render a decision not later than sixty (60) days after receipt of a request for review; provided, however, that if special circumstances require extension of a time for processing, a decision shall be rendered no later than one hundred and twenty (120) days after receipt of the request for review.  Written notice of any such extension shall be furnished to the Claimant within sixty (60) days after receipt of request for review.  The Committee’s decision shall be in writing and shall set forth (i) the specific reason or reasons for the denial on review, (ii) specific reference to the pertinent Plan provisions on which the denial on review is based, (iii) an explanation that the Claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the Claimant’s Claim for benefits, and (iv) an explanation that if an adverse determination is made on review, the Claimant may have the right to bring a civil action under Section 502(a) of ERISA.  If the decision on review is not furnished within the applicable time, the Claim shall be deemed denied on review.
(b)    Claims Based on an Independent Determination of Disability.  Notwithstanding the provisions of Section 7.3(a), with respect to a Claim under this Plan based on Disability, the Committee shall furnish to the Claimant written notice of the disposition of a Claim within 45 days after the application therefor is filed; provided, if matters beyond the control of the Committee require an extension of time for processing the Claim, the Committee shall furnish written notice of the extension to the Claimant prior to the end of the initial 45-day period, and such extension shall not exceed one additional, consecutive 30-day period; and, provided further, if matters beyond the control of the Committee require an additional extension of time for processing the Claim, the Committee shall furnish written notice of the second extension to the Claimant prior to the end of the initial 30-day extension period, and such extension shall not exceed an additional, consecutive 30-day period.  Notice of any extension under this subsection (b) shall specifically explain the standards on which entitlement to a benefit is based, the unresolved issues that prevent a decision on the Claim, the additional information needed to resolve those issues, and that the Claimant has at least 45 days within which to provide the specified information.  In the event the Claim is denied, the notice of the disposition of the Claim shall provide (i) the specific reasons for the denial, (ii) cites of the pertinent provisions of the Plan, (iii) an explanation as to how the Claimant can perfect the Claim and/or submit the Claim for review (where appropriate), and (iv) a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse determination on review.
With respect to an appeal of a denial of benefits under the Plan based on Disability, the Claimant, or his or her duly authorized representative, may review pertinent documents related to the Plan and in the Committee’s possession in order to prepare the appeal.  The form containing the request for review, together with a written statement of the Claimant’s position, must be filed with the Committee no later than 180 days after receipt of the written 

notification of denial of a Claim provided for in the paragraph above.  The Committee’s decision shall be made within 45 days following the filing of the request for review and shall be communicated in writing to the Claimant; provided, if special circumstances require an extension of time for processing the appeal, the Committee shall furnish written notice to the Claimant prior to the end of the initial 45-day period, and such an extension shall not exceed one additional 45-day period.  The Committee’s review shall not afford deference to the initial adverse benefit determination and shall be conducted by an individual who is neither the individual who made the adverse benefit determination that is the subject of the appeal, nor the subordinate of such individual.  In deciding an appeal of any adverse benefit determination that is based in whole or in part on a medical judgment, the Committee shall consult with a health care professional who has appropriate training and experience in the field of medicine involved in the medical judgment and who is neither an individual who was consulted in connection with the adverse benefit determination that is the subject of the appeal, nor the subordinate of any such individual.  If unfavorable, the notice of decision shall (i) explain the reason or reasons for denial, (ii) indicate the provisions of the Plan or other documents used to arrive at the decision, (iii) state that the Claimant may receive on request copies of all relevant records for free, (iv) describe the Plan’s voluntary appeals procedures (if any), (v) state the Claimant’s right to bring a civil action under ERISA Section 502(a), and (vi) identify all medical or vocational experts whose advice was obtained by the Committee in connection with a Claimant’s adverse benefit determination.     
7.4    Limitation on Period for Filing Claims.  No Claim for benefits based upon a claim that contributions were not properly made under this Plan shall be approved under this Plan, and no action may be brought for benefits under this Plan pursuant to the denial of such a Claim pursuant to Section 7.3 of this Plan, unless such Claim for benefits is duly filed under Section 7.3 of this Plan no later than the last day of the second Plan Year beginning after the Plan Year in which the Claim alleges that the contributions should have been credited.
7.5    Indemnification of Committee.  The Company shall indemnify and hold harmless each member of the Committee and any employee of the Company or an Employer to whom the Committee has delegated its responsibilities under the Plan against any and all claims, losses, damages, expenses, or liabilities arising from any action or failure to act with respect to the Plan, except when due to gross negligence or willful misconduct.
7.6    Compliance with Laws and Obligations.  The Company will not be obligated to issue or deliver shares of Common Stock in connection with the Plan unless and until the Committee or the Company has determined that the issuance of such shares is in compliance with all applicable laws, regulations of governmental authorities, and the requirements of any exchange on which the shares are listed or traded, and that the shares are covered by an effective registration statement or are exempt from registration.  The Committee or the Administrator 

under the Equity Plan may require that a Member make such reasonable covenants, agreements, and representations, and comply with such restrictions, as the Committee or the Administrator deems advisable in order to comply with any laws, regulations or requirements.  All shares issued under the Plan shall be subject to such policies, including insider trading and clawback policies, as may be adopted by the Company from time to time.
ARTICLE 8     
NO EMPLOYMENT RIGHTS
No provisions of the Plan or any action taken by the Company, the Board of Directors, the Committee, or any of their properly authorized representatives shall give any person any right to be retained in the employ of any Employer, and the right and power of the Company or any Employer to dismiss or discharge any Member is specifically reserved.
ARTICLE 9     
AMENDMENT, SUSPENSION, AND TERMINATION
The Board of Directors or its authorized designee shall have the right to amend, suspend, or terminate the Plan at any time, except that the Committee may make non-substantive administrative changes to this Plan so as to conform with or take advantage of governmental requirements, statutes or regulations.  No amendment, suspension or termination shall, without the consent of a Member, adversely affect the amount of the Member’s benefits in his or her Account as of the date of such amendment, suspension or termination. 
Upon suspension of the Plan, no further deferrals under the Plan shall be permitted; however, dividend equivalents shall continue to be credited to Account balances in accordance with the Plan, until the Account balances are fully distributed.  
Upon termination of the Plan, distribution of the balances in Accounts shall be made to Members and Beneficiaries in the manner and at the time determined by the Board of Directors or its designee in accordance with the requirements of Section 409A. In the event the Plan is terminated, the Committee shall continue to administer the Plan in accordance with the relevant provisions of the Plan until all Members’ benefits have been paid in full.  
ARTICLE 10     
PROVISIONS GOVERNED BY CODE SECTION 409A
Notwithstanding anything herein to the contrary, the terms of the Plan are intended to, and shall be interpreted and applied so as to, comply in all respects with the provisions of Section 409A.  Any provision of this Plan governing the timing or form of payment of benefits hereunder may be modified by the Committee if, and to the extent deemed necessary or advisable, to comply with Section 409A.  Nothing in this Section shall be construed as an admission that any of the benefits payable under this Plan constitutes “deferred compensation” subject to the provisions of Section 409A.

ARTICLE 11     
MISCELLANEOUS
11.1    Unsecured General Creditor.  The Accounts represent unsecured obligations of the Company, and no funds are set aside from the Company’s general assets to cover such Accounts.  Members and their Beneficiaries, heirs, successors and assigns shall have no rights under the Plan that are greater than the rights of an unsecured general creditor of the Company.
11.2    Responsibility for Legal Effect.  Neither the Committee nor the Company make any representations or warranties, express or implied, or assumes any responsibility concerning the legal, tax or other implications or effects of the Plan.
11.3    Other Compensation Plans.  The adoption of the Plan will not affect any other incentive or other compensation plan in effect for the Company, nor will the Plan preclude the Company from establishing any other forms of incentive or other compensation for employees of the Company.
11.4    Furnishing Information.  By participating in the Plan, a Member agrees that he or she and his or her Beneficiary will cooperate with the Committee by furnishing any and all information requested by the Committee and will take such other actions as may reasonably be requested in order to facilitate the administration of the Plan and the payments of benefits hereunder.
11.5    Data Privacy.  By participating in the Plan, a Member explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of the Member's personal data by and among, as applicable, the Company, the Employers, and any third party assisting the Company in administering the Plan or providing recordkeeping services for the Plan for the exclusive purpose of implementing, administering and managing the Member's participation in the Plan.  Each Member understands that refusal or withdrawal of consent may affect the Member’s ability to participate in the Plan. Each Member understands that the Company, the Employers, and any third party assisting the Company in administering the Plan or providing recordkeeping services for the Plan may hold certain personal information about the Member, including, but not limited to, the Member’s name, home address and telephone number, date of birth, social security number or other identification number, salary, nationality, job title, and details of the Member’s awards under the Equity Plan and other compensation, for the exclusive purpose of implementing, administering and managing the Plan (“Personal Data”).  Each Member understands that Personal Data may be transferred to any affiliates or third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in the United States, the Member’s country (if different from the United States), or elsewhere, and that the recipient's country may have different data privacy laws and protections than the Member’s country. 

11.6    Captions.  The captions of the sections and paragraphs of the Plan are for convenience only and, in the event of any conflict between the text of the Plan and such captions, the text of the Plan shall control.  
11.7    Governing Law; Consent to Jurisdiction.  Subject to ERISA, the provisions of this Plan shall be construed and interpreted according to the laws of Delaware without regard to its conflicts of laws principles.  Any dispute arising out of participation in the Plan may be resolved in any state or federal court located within the State of New Jersey.  By participating in the Plan, a Member accepts such venue and submits to the personal jurisdiction of any such court.  Similarly, the Company accepts such venue and submits to such jurisdiction.
11.8    Notice.  Except as otherwise required by rule or procedure established by the Committee or by notice to Members, any notice or filing required or permitted to be given to the Committee under this Plan shall be in writing and may be hand-delivered, sent by registered or certified mail, or sent by facsimile or email to the address below:
Zoetis Inc.
100 Campus Drive
Florham Park, New Jersey 07932
Attention:  Executive Vice President and Chief Human Resources Officer    
Fax:     973-822-7000
Email:    ZoetisCompensation@Zoetis.com 
Such notice shall not be effective until actual receipt by the Committee.
Any notice or filing required or permitted to be given to a Member or Beneficiary under this Plan shall be in writing and may be hand-delivered, sent by mail (including first class mail), or sent by facsimile or email, to the address of the Member or Beneficiary as set forth in the records of the Company or the Plan.
11.9    Consent to Electronic Delivery.  In lieu of receiving documents in paper format, by making a deferral election under the Plan, a Member will be deemed to have consented, to the fullest extent permitted by law, to electronic delivery of any documents that the Company may be required to deliver (including, but not limited to, prospectuses, prospectus supplements, plan descriptions, account statements, grant or award notifications and agreements, and all other forms or communications) in connection with the Plan or shares of Common Stock distributable hereunder.  Electronic delivery of a document to the Member may be via a Company e-mail system or by reference to a location on an Internet site to which the Member has access.
11.10    Successors.  The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting from the merger, consolidation, or other 

reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all of the assets and business of the Company.  The Plan and all rights of each Member hereunder shall inure to the benefit of and be enforceable by the Member’s Beneficiary, personal or legal representatives, or estate, to the extent any such person succeeds to the Member’s interests under the Plan.
11.11    Spouse’s Interest.  The interest in the benefits hereunder of a spouse of a Member who has predeceased the Member shall automatically pass to the Member and shall not be transferable by such spouse in any manner, including but not limited to such spouse’s will, nor shall such interest pass under the laws of intestate succession.
11.12    Validity; No Waiver.  In the event that any provisions of this Plan shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein.  The failure of the Company or any Member to insist upon strict compliance with any provisions of, or to assert any right under, this Plan shall not be deemed to be a waiver of such provision or right or of any other provision of or right under this Plan.
11.13    Incompetent.  If the Committee determines in its discretion that a benefit under this Plan is to be paid to a minor, a person declared incompetent, or a person incapable of handling the disposition of that person’s property, the Committee may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable person.  The Committee may require proof of minority, incompetency, incapacity or guardianship, as it may deem appropriate, prior to distribution of the benefit.  Any payment of a benefit shall be a payment for the account of the Member or the Member’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount.Exhibit 4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
 BARCLAYS PLC, 

Issuer 
 TO 

THE BANK OF NEW YORK MELLON ACTING THROUGH ITS LONDON BRANCH 

Trustee 
  

 
 SENIOR DEBT
SECURITIES INDENTURE 
 Dated as of November 10, 2014 
  

 

 BARCLAYS PLC 

Reconciliation and tie between Trust Indenture Act of 1939, as amended, and Senior Securities Indenture, dated as of November 10, 2014. 

 

					
	 Trust Indenture Act Section
	  	 Senior Debt Securities Indenture Section

	 §310
	 	 (a)(1)
	  	6.09
		 	 (a)(2)
	  	6.09
		 	 (a)(3)
	  	Not Applicable
		 	 (a)(4)
	  	Not Applicable
		 	 (b)
	  	 6.08
 6.10

	 §311
	 	 (a)
	  	6.13
		 	 (b)
	  	6.13
	 §312
	 	 (a)
	  	 7.01
 7.02(a)

		 	 (b)
	  	7.02(b)
		 	 (c)
	  	7.02(c)
	 §313
	 	 (a)
	  	7.03(a)
		 	 (b)
	  	7.03(a)
		 	 (c)
	  	1.06,7.03(a)
		 	 (d)
	  	7.03(b)
	 §314
	 	 (a)
	  	7.04
		 	 (b)
	  	Not Applicable
		 	 (c)(1)
	  	1.02
		 	 (c)(2)
	  	1.02
		 	 (c)(3)
	  	Not Applicable
		 	 (d)
	  	Not Applicable
		 	 (e)
	  	1.02
		 	 (f)
	  	Not Applicable
	 §315
	 	 (a)
	  	6.01, 6.03
		 	 (b)
	  	6.02
		 	 (c)
	  	5.04, 6.01
		 	 (d)(1)
	  	6.01, 6.03
		 	 (d)(2)
	  	6.01, 6.03
		 	 (e)
	  	5.14
	 §316
	 	 (a)(1)(A)
	  	5.02, 5.12
		 	 (a)(1)(B)
	  	5.13
		 	 (a)(2)
	  	Not Applicable
		 	 (a)(last sentence)
	  	1.01
		 	 (b)
	  	5.08
	 §317
	 	 (a)(1)
	  	5.03
		 	 (a)(2)
	  	5.04
		 	 (b)
	  	10.03
	 §318
	 	 (a)
	  	1.07

 NOTE: This reconciliation and tie shall not, for any purpose, be deemed to be a part of this Senior Debt Securities Indenture.

 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
	  	 	8	  
	Section 1.03	 	 Form of Documents Delivered to Trustee
	  	 	9	  
	Section 1.04	 	 Acts of Holders
	  	 	9	  
	Section 1.05	 	 Notices, etc. to Trustee and Company
	  	 	11	  
	Section 1.06	 	 Notice to Holders; Waiver
	  	 	11	  
	Section 1.07	 	 Conflict with Trust Indenture Act
	  	 	12	  
	Section 1.08	 	 Effect of Headings and Table of Contents
	  	 	12	  
	Section 1.09	 	 Successors and Assigns
	  	 	13	  
	Section 1.10	 	 Separability Clause
	  	 	13	  
	Section 1.11	 	 Benefits of Senior Debt Securities Indenture
	  	 	13	  
	Section 1.12	 	 Governing Law
	  	 	13	  
	Section 1.13	 	 Saturdays, Sundays and Legal Holidays
	  	 	13	  
	Section 1.14	 	 Appointment of Agent for Service
	  	 	13	  
	Section 1.15	 	 Calculation Agent
	  	 	14	  
	Section 1.16	 	 Waiver of Jury Trial
	  	 	14	  
	Section 1.17	 	 Force Majeure
	  	 	14	  
	
	 ARTICLE 2

SENIOR DEBT SECURITY FORMS
	   
   

			
	Section 2.01	 	 Forms Generally
	  	 	15	  
	Section 2.02	 	 Form of Trustee’s Certificate of Authentication
	  	 	15	  
	
	 ARTICLE 3

THE SENIOR DEBT SECURITIES
	   
   

			
	Section 3.01	 	 Amount Unlimited; Issuable in Series
	  	 	15	  
	Section 3.02	 	 Denominations
	  	 	19	  
	Section 3.03	 	 Execution, Authentication, Delivery and Dating
	  	 	19	  
	Section 3.04	 	 Temporary Senior Debt Securities
	  	 	20	  
	Section 3.05	 	 Registration, Registration of Transfer and Exchange
	  	 	21	  
	Section 3.06	 	 Mutilated, Destroyed, Lost and Stolen Senior Debt Securities
	  	 	23	  
	Section 3.07	 	 Payment
	  	 	24	  
	Section 3.08	 	 Persons Deemed Owners
	  	 	25	  
	Section 3.09	 	 Cancellation
	  	 	25	  
	Section 3.10	 	 Computation of Interest
	  	 	25	  
	Section 3.11	 	 CUSIP Numbers
	  	 	26	  
	
	 ARTICLE 4

SATISFACTION AND DISCHARGE
	   
   

			
	Section 4.01	 	 Satisfaction and Discharge of Senior Debt Securities Indenture
	  	 	26	  
	Section 4.02	 	 Application of Trust Money
	  	 	27	  

  
 -i- 

							
	 	 	 	  	Page	 
	 ARTICLE 5

REMEDIES
	   
   

			
	Section 5.01	 	 Events of Default
	  	 	27	  
	Section 5.02	 	 Acceleration of Maturity; Rescission and Annulment
	  	 	28	  
	Section 5.03	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	28	  
	Section 5.04	 	 Trustee May File Proofs of Claim
	  	 	30	  
	Section 5.05	 	 Trustee May Enforce Claims Without Possession of Senior Debt Securities
	  	 	31	  
	Section 5.06	 	 Application of Money Collected
	  	 	31	  
	Section 5.07	 	 Limitation on Suits
	  	 	31	  
	Section 5.08	 	 Unconditional Right of Holders to Receive Principal, Premium and Interest, if any
	  	 	32	  
	Section 5.09	 	 Restoration of Rights and Remedies
	  	 	32	  
	Section 5.10	 	 Rights and Remedies Cumulative
	  	 	32	  
	Section 5.11	 	 Delay or Omission Not Waiver
	  	 	33	  
	Section 5.12	 	 Control by Holders
	  	 	33	  
	Section 5.13	 	 Waiver of Past Events of Default
	  	 	33	  
	Section 5.14	 	 Undertaking for Costs
	  	 	34	  
	Section 5.15	 	 Waiver of Usury, Stay or Extension Laws
	  	 	34	  
	
	 ARTICLE 6

THE TRUSTEE
	   
   

			
	Section 6.01	 	 Certain Duties and Responsibilities
	  	 	35	  
	Section 6.02	 	 Notice of Defaults
	  	 	36	  
	Section 6.03	 	 Certain Rights of Trustee
	  	 	36	  
	Section 6.04	 	 Not Responsible for Recitals or Issuance of Senior Debt Securities
	  	 	37	  
	Section 6.05	 	 May Hold Senior Debt Securities
	  	 	38	  
	Section 6.06	 	 Money Held in Trust
	  	 	38	  
	Section 6.07	 	 Compensation and Reimbursement
	  	 	38	  
	Section 6.08	 	 Disqualification; Conflicting Interests
	  	 	39	  
	Section 6.09	 	 Corporate Trustee Required; Eligibility
	  	 	39	  
	Section 6.10	 	 Resignation and Removal; Appointment of Successor
	  	 	40	  
	Section 6.11	 	 Acceptance of Appointment by Successor
	  	 	41	  
	Section 6.12	 	 Merger, Conversion, Consolidation or Succession to Business
	  	 	42	  
	Section 6.13	 	 Preferential Collection of Claims
	  	 	42	  
	Section 6.14	 	 Appointment of Authenticating Agent
	  	 	43	  
	
	 ARTICLE 7

HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY
	   
   

			
	Section 7.01	 	 Company to Furnish Trustee Names and Addresses of Holders
	  	 	44	  
	Section 7.02	 	 Preservation of Information; Communications to Holders
	  	 	45	  
	Section 7.03	 	 Reports by Trustee
	  	 	45	  
	Section 7.04	 	 Reports by Company
	  	 	46	  
	
	 ARTICLE 8

CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER
	   
   

			
	Section 8.01	 	 Company May Consolidate, etc. Only on Certain Terms
	  	 	46	  
	Section 8.02	 	 Successor Person Substituted
	  	 	47	  
	Section 8.03	 	 Assumption of Obligations
	  	 	47	  

  
 -ii- 

							
	 	 	 	  	Page	 
	 ARTICLE 9

SUPPLEMENTAL INDENTURES
	   
   

			
	Section 9.01	 	 Supplemental Indentures Without Consent of Holders
	  	 	49	  
	Section 9.02	 	 Supplemental Indentures with Consent of Holders
	  	 	50	  
	Section 9.03	 	 Execution of Supplemental Indentures
	  	 	51	  
	Section 9.04	 	 Effect of Supplemental Indentures
	  	 	51	  
	Section 9.05	 	 Conformity with Trust Indenture Act
	  	 	51	  
	Section 9.06	 	 Reference in Senior Debt Securities to Supplemental Indentures
	  	 	51	  
	
	 ARTICLE 10

COVENANTS
	   
   

			
	Section 10.01	 	 Payment of Principal, Premium, and Interest
	  	 	52	  
	Section 10.02	 	 Maintenance of Office or Agency
	  	 	52	  
	Section 10.03	 	 Money for Payments to Be Held in Trust
	  	 	53	  
	Section 10.04	 	 Additional Amounts
	  	 	54	  
	Section 10.05	 	 Corporate Existence
	  	 	56	  
	Section 10.06	 	 Statement as to Compliance
	  	 	56	  
	
	 ARTICLE 11

REDEMPTION OF SENIOR DEBT SECURITIES
	   
   

			
	Section 11.01	 	 Applicability of Article
	  	 	56	  
	Section 11.02	 	 Election to Redeem; Notice to Trustee
	  	 	56	  
	Section 11.03	 	 Selection by Trustee of Senior Debt Securities to Be Redeemed
	  	 	56	  
	Section 11.04	 	 Notice of Redemption
	  	 	57	  
	Section 11.05	 	 Deposit of Redemption Price
	  	 	58	  
	Section 11.06	 	 Senior Debt Securities Payable on Redemption Date
	  	 	58	  
	Section 11.07	 	 Senior Debt Securities Redeemed in Part
	  	 	58	  
	Section 11.08	 	 Optional Redemption
	  	 	58	  
	Section 11.09	 	 Optional Tax Redemption
	  	 	59	  
	
	 ARTICLE 12

U.K. BAIL-IN POWER
	   
   

			
	Section 12.01	 	U.K. Bail-in Power Acknowledgement	  	 	60	  

  

  
 -iii- 

 SENIOR DEBT SECURITIES INDENTURE, dated as of November 10, 2014 between BARCLAYS PLC, a
public limited company registered in England and Wales (herein called the “Company”), having its registered office at 1 Churchill Place, London E14 5HP, United Kingdom and THE BANK OF NEW YORK MELLON ACTING THROUGH ITS LONDON BRANCH, a New
York banking corporation, as Trustee (herein called the “Trustee”), having its Corporate Trust Office at One Canada Square, London E14 5AL, United Kingdom. 

RECITALS OF THE COMPANY 
 The
Company has duly authorized the execution and delivery of this Senior Debt Securities Indenture to provide for the issuance from time to time of its unsecured and unsubordinated debentures, notes or other evidences of indebtedness (herein called the
“Senior Debt Securities”), to be issued in one or more series as in this Senior Debt Securities Indenture provided. 
 All things
necessary to make this Senior Debt Securities Indenture a valid and binding agreement of the Company, in accordance with its terms, have been done. 

NOW, THEREFORE, THIS SENIOR DEBT SECURITIES INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Senior Debt Securities by the Holders thereof, it is mutually covenanted and
agreed, for the equal and proportionate benefit of all Holders of Senior Debt Securities and holders of Coupons, if any, as follows: 

ARTICLE 1 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATION 
 Section 1.01 Definitions. For all purposes of this Senior Debt Securities 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 Kingdom at the date of such computation and as applied by the Company; and 
 (d) the words
“herein,” “hereof” and “hereunder” and other words of similar import refer to this Senior Debt Securities Indenture as a whole and not to any particular Article, Section or other subdivision. 

 Certain terms, used principally in Article 6, are defined when first used. 

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

“Additional Amounts” has the meaning specified in Section 10.04(a). 

“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. 

“Applicable Law” has the meaning specified in Section 10.04(c). 

“Authenticating Agent” means any Person authorized by the Trustee to act on behalf of the Trustee to authenticate Senior Debt
Securities of one or more series. 
 “Authorized Newspaper” means a newspaper in an official language of the country of
publication customarily published at least once a day for at least five (5) days in each calendar week and of general circulation in the place in connection with which the term is used, which, in the United Kingdom, will be The Financial
Times of London, if practicable, and which, in the United States, will be The Wall Street Journal, if practicable, and if it shall be impracticable to make any publication of any notice required hereby in any such newspaper, shall mean
any publication or other notice in lieu thereof which is made or given as determined by the Trustee. 
 “Authorized
Officer” means any Director, any officer of the Company for the time being holding the office of Chief Executive Officer, Group Finance Director or Barclays Treasurer or any Managing Director (or person with similar title and status) in
Barclays Treasury (or successor department). 
 “Board of Directors” means either the board of directors, or any committee
of such board duly authorized to act with respect hereto, of the Company, which board of directors or committee may, to the extent permitted by applicable law, delegate its authority. 

“Board Resolution” means a copy of a resolution certified by a Company Secretary or by a Director, Associate Director or
Manager (or any other person with similar title and status) of Barclays Corporate Secretariat (or any successor department thereto), or by such other person authorized or duly appointed by the Board of Directors, to have been duly adopted by the
Board of Directors and to be in full force and effect on the date of such certification and delivered to the Trustee. 
 “Business
Day” means, with respect to any Place of Payment, except as may otherwise be provided in the form of Senior Debt Securities of any particular series, each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking
institutions in London, England, The City of New York, United States or in that Place of Payment are authorized or obligated by law or executive order to close. 

  
 -2- 

 “Calculation Agent” means the Person, if any, authorized by the Company to
calculate the interest rate or other amounts from time to time in relation to any series of Senior Debt Securities. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Commission” means the United States Securities and Exchange Commission, as from time to time constituted, created under the
Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

“Companies Act 2006” means the Companies Act 2006 of England and Wales. 

“Company” means the Person named as the “Company” in the first paragraph of this Senior Debt Securities Indenture
until a successor Person shall have become such pursuant to the applicable provisions of this Senior Debt Securities Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Order” and “Company Request” mean, respectively, a written order or request signed in the name of
the Company by any Authorized Officer or Director in the Capital Markets Execution section (or any successor section thereto) of Barclays Treasury (or any other person with similar title and status) or Vice President in the Capital Markets Execution
section (or any successor section thereto) of Barclays Treasury (or any other person with similar title and status), and delivered to the Trustee. 

“Corporate Trust Office” means the Corporate Trust Office referenced in the applicable Officer’s Certificate or
indenture supplemental hereto establishing the terms of the Senior Debt Securities of a series, or, in any case, such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate
trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Holders and the Company). 

The term “corporation” includes corporations, associations, companies and business trusts. 

“Coupon” or “Coupons” means any interest coupon or coupons, as the case may be, appertaining to any Senior
Debt Securities and includes any talons for further interest coupons. 
 “Defaulted Interest” has the meaning specified in
Section 3.07. 
 “Delegated Person Resolution” means a copy of a resolution or decision certified by a Company
Secretary or by a Director, Associate Director or Manager (or any other person with similar title and status) of Barclays Corporate Secretariat (or any successor department thereto), or by such other person authorized or duly appointed by the Board
of Directors, to have been duly adopted by a duly authorized person or committee in accordance with the delegation of authorities granted by the Board of Directors in effect from time to time and to be in full force and effect on the date of such
certification and delivered to the Trustee. 

  
 -3- 

 “Depositary” means, with respect to Senior Debt Securities of any series
issuable or issued 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 Senior Debt Securities as contemplated by Section 3.01.

 “Dollar” or “$” or any similar reference means the coin or currency of the United States of America as
at the time of payment is legal tender for the payment of public and private debts. 
 “Euro” or “€”
or any similar reference means the single currency of the participating member states in the Third Stage of European economic and monetary union pursuant to the Treaty establishing the European Community (as amended from time to time), and as
defined in Article 2 of Council Regulation (EC) No. 974/98 of 3 May 1998 on the introduction of the Euro, as amended. 

“Event of Default” has the meaning specified in Section 5.01. 

“Exchange Act” means the United States Securities Exchange Act of 1934, as amended, at the date as of which this instrument
was executed; provided, however, that in the event the United States Securities Exchange Act of 1934 is amended after such date, “Exchange Act” means, to the extent required by any such amendment, the United States Securities
Exchange Act of 1934 as so amended. 
 “FATCA Withholding Tax” has the meaning specified in Section 10.04(b). 

“Foreign Currency” means a currency issued by the government of any country other than the United States of America as at the
time of payment is legal tender for the payment of public and private debts. 
 “Global Security” means with respect to
Senior Debt Securities issued in registered form, a global certificate evidencing all or part of a series of Senior Debt Securities, authenticated and delivered to the Depositary and registered in the name of the Depositary or its nominee. 

“Group” means Barclays PLC (or any successor holding company of Barclays Bank PLC) and its consolidated subsidiaries. 

“Holder” means a Person in whose name a registered Senior Debt Security in global or definitive form is registered in the
Senior Debt Security Register. 
 The term “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”, when
used with respect to any Senior Debt Security, means the Stated Maturity of any installment of interest on such Senior Debt Security. 

“Investment Company Act” means the U.S. Investment Company Act of 1940 and any statute successor thereto, in each case as
amended from time to time. 

  
 -4- 

 “Maturity”, when used with respect to any Senior Debt Security, means the date,
if any, on which the principal of such Senior Debt Security becomes due and payable as therein or herein provided, whether at the Stated Maturity or by call for redemption, winding up of the Company or otherwise. 

“Officer’s Certificate” means a certificate delivered to the Trustee and signed by any Authorized Officer or Director in
the Capital Markets Execution section (or any successor section thereto) of Barclays Treasury (or any other person with similar title and status) or Vice President in the Capital Markets Execution section (or any successor section thereto) of
Barclays Treasury (or any other person with similar title and status). 
 “Opinion of Counsel” means a written opinion of
legal advisors, who may be legal advisors for the Company or other legal advisors, such counsel to be acceptable to the Trustee. 

“Ordinary Shares” means the fully paid ordinary shares in the capital of the Company. 

“Original Issue Discount Security” means any Senior Debt Security which provides for an amount less than the principal amount
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 Senior Debt Securities or any series of Senior Debt Securities means, as of the date
of determination, all Senior Debt Securities or all Senior Debt Securities of such series, as the case may be, theretofore authenticated and delivered under this Senior Debt Securities Indenture, except: 

(i) Senior Debt Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 

(ii) Senior Debt Securities, or portions thereof, for whose payment or redemption money in the necessary amount have 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 Senior Debt Securities;
provided that, if such Senior Debt Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Senior Debt Securities Indenture or provision therefor satisfactory to the Trustee has been made; and 

(iii) Senior Debt Securities which have been paid pursuant to Section 11.06 or in exchange for or in lieu of which other
Senior Debt Securities have been authenticated and delivered pursuant to this Senior Debt Securities Indenture; 
 provided,
however, that in determining whether the Holders of the requisite principal amount of the Outstanding Senior Debt Securities of any series have given any request, demand, authorization, direction, notice, consent or waiver hereunder,
(i) the principal amount of a Senior Debt Security denominated in a Foreign Currency shall be the Dollar equivalent, determined in the manner provided as contemplated by Section 3.01 on the date of original issuance of such Senior Debt
Security, of the principal amount of such Senior Debt Security; and (ii) Senior Debt Securities beneficially owned by the Company 

  
 -5- 

 
or any other obligor upon the Senior Debt 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 or waiver, only Senior Debt Securities which the Trustee actually knows to be so beneficially owned shall be so disregarded;
provided further, however, that Senior Debt Securities so beneficially 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 Senior Debt Securities and that the pledgee is not the Company or any other obligor upon the Senior Debt Securities or any Affiliate of the Company or of such other obligor. 

“Paying Agent” means any Person (which may include the Company) authorized by the Company to pay the principal of (and
premium, if any) or interest, if any, on any Senior Debt Securities on behalf of the Company. 
 “Person” means any
individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 

“Place of Payment”, when used with respect to the Senior Debt Securities of any series, means the place or places where the
principal of (and premium, if any) and interest, if any, on the Senior Debt Securities of that series are payable as specified pursuant to Section 3.01 or, if not so specified, as specified in Section 10.02. 

“Predecessor Security” of any particular Senior Debt Security means every previous Senior Debt Security evidencing all or a
portion of the same debt as that evidenced by such particular Senior Debt Security; and, for the purposes of this definition, any Senior Debt Security authenticated and delivered under Section 3.06 in exchange for or in lieu of a mutilated,
destroyed, lost or stolen Senior Debt Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Senior Debt Security. 

“PRA” means the Prudential Regulation Authority of the United Kingdom or such other governmental authority in the United
Kingdom (or if the Company becomes domiciled in a jurisdiction other than the United Kingdom, such other jurisdiction) having primary responsibility for the prudential supervision of the Company. 

“Redemption Date”, when used with respect to any Senior Debt Security to be redeemed, means the date fixed for such
redemption by or pursuant to this Senior Debt Securities Indenture. 
 “Redemption Price”, when used with respect to any
Senior Debt Security to be redeemed, means the price at which it is to be redeemed pursuant to this Senior Debt Securities Indenture. 

“Regular Record Date” for any interest payable on any Interest Payment Date on registered Senior Debt Securities of any
series means the date specified for the purpose pursuant to Section 3.01. 
 “Relevant U.K. Resolution Authority” has
the meaning set forth in the definition of U.K. Bail-In Power. 

  
 -6- 

 “Responsible Officer”, when used with respect to the Trustee, means, any officer
assigned to the Corporate Trust Administration unit (or any successor division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration of this Senior Debt Securities
Indenture, and for the purposes of Section 6.01(d)(ii) and Section 6.02 shall also include any other officer of the Trustee to whom any corporate trust matter is referred because of such officer’s knowledge of and familiarity with the
particular subject. 
 “Shareholders” means the holders of Ordinary Shares. 

“Senior Debt Securities” has the meaning set forth in the recitals of the Company herein and more particularly means any
Senior Debt Securities issued, authenticated and delivered under this Senior Debt Securities Indenture. 
 “Senior Debt Securities
Indenture” or “Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable
provisions hereof and shall include the terms and forms of particular series of Senior Debt Securities established pursuant to Section 3.01. 

“Senior Debt Security” means one of the Senior Debt Securities. 

“Senior Debt Security Register” and “Senior Debt Security Registrar” have the respective meanings specified
in Section 3.05. 
 “Stated Maturity”, when used with respect to any Senior Debt Security or any installment of
principal thereof or interest thereon, means the date, if any, specified in, or determined in accordance with the terms of, such Senior Debt Security or in the relevant Coupon, if any, appertaining thereto as the fixed date on which the principal of
such Senior Debt Security or such installment of interest is due and payable. 
 “Special Record Date” for the payment of
any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.07. 
 “Subsidiary” has the meaning
attributed thereto by Section 1159 of the Companies Act 2006. 
 “Taxes” has the meaning specified in
Section 10.04(a) 
 “Tax Event” has the meaning specified in Section 11.09. 

“Taxing Jurisdiction” has the meaning specified in Section 10.04(a). 

“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 Senior Debt Securities Indenture, and thereafter “Trustee” shall mean the Person who is then the Trustee hereunder, and if at any time there is more than one such
Person, “Trustee” shall mean and include each such Person; and “Trustee” as used with respect to the Senior Debt Securities of any series shall mean the Trustee with respect to the Senior Debt Securities of such series. 

  
 -7- 

 “Trust Indenture Act” means the United States Trust Indenture Act of 1939, 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. 
 “U.K. Bail-In Power” means any statutory write-down and/or
conversion power existing from time to time under any laws, regulations, rules or requirements relating to the resolution of banks, banking group companies, credit institutions and/or investment firms incorporated in the United Kingdom in effect and
applicable in the United Kingdom to the Company or other members of the Group, including but not limited to any such laws, regulations, rules or requirements that are implemented, adopted or enacted within the context of the European Union directive
2014/59/EU of the European Parliament and of the Council establishing a framework for the recovery and resolution of credit institutions and investment firms of May 15, 2014, as amended, and/or within the context of a U.K. resolution regime
under the U.K. Banking Act 2009, as amended, or otherwise, pursuant to which obligations of a bank, banking group company, credit institution or investment firm or any of its affiliates can be reduced, cancelled and/or converted into shares or other
securities or obligations of the Company or any other person (and a reference to the “Relevant U.K. Resolution Authority” is to any authority with the ability to exercise a U.K. Bail-In Power). 

“United Kingdom” means the United Kingdom of Great Britain and Northern Ireland. 

“United States of America” means the United States of America and, except in the case of Section 6.09 and
Section 6.14, its territories and possessions. 
 “Vice President”, when used with respect to 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”. 

“Withheld Amount” has the meaning specified in Section 5.03. 

Section 1.02 Compliance Certificates and Opinions. Upon any application or request by the Company to the Trustee to take any
action under any provision of this Senior Debt Securities Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Senior Debt Securities Indenture relating
to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of the legal advisor rendering such opinion all such conditions precedent, if any, have been complied with, except that in the case of any such
application or request as to which the furnishing of such documents is specifically required by any provision of this Senior Debt Securities Indenture relating to such particular application or request, no additional certificate or opinion need be
furnished. 
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Senior Debt
Securities Indenture shall include: 

  
 -8- 

 (a) a statement that each Person 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 Person, he has made such examination or investigation as is necessary to
enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (d)
a statement as to whether, in the opinion of each such Person, 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 one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may
certify or give an opinion as to such matters in one or several documents. 
 Any certificate or opinion of an officer of the Company may be
based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, legal advisors, 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, or representations by, legal advisors may be based, insofar as it relates to factual matters, upon a certificate or opinion
of, or representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless such legal advisors know, or in the exercise of reasonable care should
know, that the certificate or opinion or representation with respect to such matters is 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 Senior Debt Securities Indenture, they may, but need not, be consolidated and form one instrument. 

Section 1.04 Acts of Holders. (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Senior Debt Securities Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing;
and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, when 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 Senior Debt Securities 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. 

  
 -9- 

 (b) 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. When 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. 

(c) If the Company shall solicit from the Holders of Senior Debt Securities of any series any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may, at its option, by Board Resolution or other means, fix in advance a record date for purposes of determining the identity of Holders of registered Senior Debt Securities entitled to
give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company shall have no obligation to do so. Any such record date shall be fixed at the Company’s discretion. If such a record date is fixed, such
request, demand, authorization, direction, notice, consent and waiver or other Act may be sought or given before or after the record date, but only the Holders of registered Senior Debt Securities of record at the close of business on such record
date shall be deemed to be Holders of registered Senior Debt Securities for the purpose of determining whether Holders of the requisite proportion of Senior Debt Securities of such series Outstanding have authorized or agreed or consented to such
request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the registered Senior Debt Securities of such series Outstanding shall be computed as of such record date. 

(d) Upon receipt by the Trustee from any Holder of Senior Debt Securities of a particular series of (i) any notice of
default or breach referred to in Section 5.01 with respect to Senior Debt Securities of such series, if such default or breach has occurred and is continuing and the Trustee shall not have given such notice to the Company, (ii) any
declaration of acceleration referred to in Section 5.02, if an Event of Default with respect to Senior Debt Securities of such series has occurred and is continuing and the Trustee shall not have given such a declaration to the Company, or
(iii) any direction referred to in Section 5.12 with respect to Senior Debt Securities of such series, if the Trustee shall not have taken the action specified in such direction, then the Trustee may set a record date for determining the
Holders of Outstanding Senior Debt Securities of such series entitled to join in such notice, declaration, or direction. The Trustee will notify the Company and the Holders of Outstanding Senior Debt Securities of such series of any such record date
so fixed. The Holders of Outstanding Senior Debt 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. 

  
 -10- 

 (e) The ownership of registered Senior Debt Securities shall be proved by the
Senior Debt Security Register. 
 (f) Any request, demand, authorization, direction, notice, consent, waiver or other Act of
the Holder of any Senior Debt Security shall bind every future Holder of the same Senior Debt Security and the Holder of every Senior Debt Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in
respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Senior Debt Security or such other Senior Debt Security. 

Section 1.05 Notices, etc. to Trustee and Company. Any request, demand, authorization, direction, notice, consent, waiver or Act
of Holders or other document provided or permitted by this Senior Debt Securities Indenture to be made upon, given or furnished to, or filed with, 

(a) the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if made, given, furnished or filed in writing to the Trustee at its Corporate Trust Office, or 
 (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, addressed to it at the address of its registered office
specified in the first paragraph of this Senior Debt Securities Indenture (unless another address has been previously furnished in writing to the Trustee by the Company, in which case at the last such address) or faxed to +44 20 7155 9000 marked
“Attention: Company Secretary”. 
 The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture
sent by unsecured e-mail, Portable Document Format (PDF), facsimile transmission or other similar unsecured electronic methods, provided, however, that the Trustee shall have received from the Company an incumbency certificate listing
persons designated to give such instructions or directions and containing the titles and specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from
the listing. If the Company elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such
instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding a conflict or
inconsistency between such instructions and a subsequent written instruction. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation
the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 
 Section 1.06
Notice to Holders; Waiver. When this Senior Debt Securities Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless 

  
 -11- 

 
otherwise herein expressly provided), in the case of Global Securities, if given in accordance with the applicable procedures of the Depositary and, in the case of all Senior Debt Securities, if
given in writing and mailed, first-class postage prepaid, to each Holder of a registered Senior Debt Security affected by such event in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act with respect to reports
pursuant to Section 7.03(a) of this Senior Debt Securities Indenture, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. 

For so long as the Senior Debt Securities of any series are represented by Global Securities, the Company will deliver all notices with
respect to such series to the Depositary for such Senior Debt Security (or its designee). 
 When notice to Holders of registered Senior
Debt Securities 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 Senior Debt Securities
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 determined by 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 that 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 that 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. If at any future time any provision required to be included herein by the Trust Indenture Act as in force at
the date as of which this Senior Debt Securities Indenture was executed or any limitation imposed by the Trust Indenture Act at such date on any provision otherwise included herein would not be so required or imposed (in whole or in part) if this
Senior Debt Securities Indenture were executed at such future time, the Company and the Trustee may enter into one or more indentures supplemental hereto pursuant to Section 9.01 to change or eliminate (in whole or in part) such provision or
limitation of this Senior Debt Securities Indenture in conformity with the requirements of the Trust Indenture Act as then in force, except that (subject to Article Nine) no provision or limitation required to be included herein by Sections
310(a)(1) and (a)(2), 315(a), (c), (d)(1), (d)(2), (d)(3) and (e), 316(a)(1)(A), (a)(1)(B), (a)(2), (a) (last sentence) and (b) of the Trust Indenture Act as in force at the date as of which this Senior Debt Securities Indenture was
executed may be so changed or eliminated. 
 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. 

  
 -12- 

 Section 1.09 Successors and Assigns. All covenants and agreements in this Senior Debt
Securities Indenture by the Company shall bind its successors and assigns, whether so expressed or not. All covenants and agreements in this Senior Debt Securities Indenture by the Trustee shall bind its successors and assigns, whether so expressed
or not. 
 Section 1.10 Separability Clause. In case any provision in this Senior Debt Securities Indenture or in the Senior
Debt Securities or the Coupons 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 Senior Debt Securities Indenture. Nothing in this Senior Debt Securities Indenture or in the Senior Debt
Securities or the Coupons, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, and the Holders of Senior Debt Securities or the holders of Coupons, any benefit or any legal or equitable right,
remedy or claim under this Senior Debt Securities Indenture. 
 Section 1.12 Governing Law. This Senior Debt Securities
Indenture and the Senior Debt Securities and the Coupons shall be governed by and construed in accordance with the laws of the State of New York without giving effect to the principles of conflicts of laws of that State, except that the
authorization and execution of this Senior Debt Securities Indenture, the Senior Debt Securities and the Coupons shall be governed (in addition to the laws of the State of New York relevant to execution) by the respective jurisdictions of
organization of the Company and the Trustee, as the case may be. 
 Section 1.13 Saturdays, Sundays and Legal Holidays. The
terms of the Senior Debt Securities (and Coupons, if any) shall provide that, in any case where any Interest Payment Date, Redemption Date, Maturity or Stated Maturity of a Senior Debt Security shall not be a Business Day at any Place of Payment,
then (notwithstanding any other provision of this Senior Debt Securities Indenture or the Senior Debt Securities or Coupons other than a provision in the Senior Debt Securities or Coupons that specifically states that such provision shall apply in
lieu of this Section) payments of interest, if any, 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 (or such other Business Day
as shall be provided in such Senior Debt Security or Coupon) with the same force and effect as if made on such Interest Payment Date, Redemption Date, Maturity or Stated Maturity, provided that no interest shall accrue on such payment for the
period from and after such Interest Payment Date, Redemption Date, Maturity or Stated Maturity, as the case may be and provided, further, that if such next succeeding Business Day at any Place of Payment would fall in the succeeding
Financial Year (as defined by reference to Section 390 of the Companies Act 2006) of the Company, payment may be made in full on the immediately preceding Business Day at such Place of Payment with the same force and effect as if made on the
Interest Payment Date, Redemption Date, Maturity or Stated Maturity, as the case may be. 
 Section 1.14 Appointment of Agent for
Service. By the execution and delivery of this Indenture, the Company hereby designates Barclays Bank PLC (New York Branch), 745 Seventh Avenue, New York, New York 10019, Attention: General Counsel as its authorized agent upon which process may
be served in any suit or proceeding in any Federal or State court in the 

  
 -13- 

 
Borough of Manhattan, The City of New York arising out of or relating to the Senior Debt Securities, the Coupons or this Senior Debt Securities Indenture, but for that purpose only, and agrees
that service of process upon said agent shall be deemed in every respect effective service of process upon it in any such suit or proceeding in any Federal or State court in the Borough of Manhattan, The City of New York. Such appointment shall be
irrevocable so long as any of the Senior Debt Securities remain Outstanding until the appointment of a successor by the Company and such successor’s acceptance of such appointment. Upon such acceptance, the Company shall notify the Trustee of
the name and address of such successor. The Company further agrees to take any and all action, including the execution and filing of any and all such documents and instruments, as may be necessary to continue such designation and appointment of said
agent in full force and effect so long as any of the Senior Debt Securities shall be Outstanding. The Trustee shall not be obligated and shall have no responsibility with respect to any failure by the Company to take any such action. The Company
hereby submits (for the purposes of any such suit or proceeding) to the jurisdiction of any Federal or State court in the Borough of Manhattan, The City of New York in which any such suit or proceeding is so instituted, and waives, to the extent it
may effectively do so, any objection it may have now or hereafter to the laying of the venue of any such suit or proceeding. 

Section 1.15 Calculation Agent. If the Company appoints a Calculation Agent pursuant to Section 3.01 with respect to any
series of Senior Debt Securities, any determination of the interest rate on, or other amounts in relation to, such series of Senior Debt Securities in accordance with the terms of such series of Senior Debt Securities by such Calculation Agent shall
(in the absence of manifest error) be binding on the Company, the Trustee, all Holders and all holders of Coupons and (in the absence of manifest error) no liability to the Holders or holders of Coupons shall attach to the Calculation Agent in
connection with the exercise or non-exercise by it of its powers, duties and discretions. 
 Section 1.16 Waiver of Jury Trial.
EACH OF THE COMPANY AND THE TRUSTEE, AND EACH HOLDER OF A SENIOR DEBT SECURITY BY ITS ACCEPTANCE THEREOF, 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 SENIOR DEBT SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 Section 1.17
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. 

  
 -14- 

 ARTICLE 2 

SENIOR DEBT SECURITY FORMS 

Section 2.01 Forms Generally. The Senior Debt Securities of each series and the Coupons, if any, to be attached thereto shall be
in such forms as shall be established by or pursuant to a Board Resolution, or in one or more indentures supplemental hereto, pursuant to Section 3.01, in each case with such appropriate insertions, omissions, substitutions and other variations
as are required or permitted by this Senior Debt Securities 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 any applicable law or rule
or regulation made pursuant thereto or with the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Senior Debt Securities and Coupons, all as evidenced by any such execution. 

The Trustee’s certificates of authentication shall be in substantially the form set forth in Section 2.02 or Section 6.14. 

The definitive Senior Debt Securities and Coupons shall be printed, lithographed or engraved or produced by any combination of these methods
or may be produced in any other manner permitted by the rules of any securities exchange on which the Senior Debt Securities may be listed, all as determined by the officers executing such Senior Debt Securities, as evidenced by their execution
thereof. 
 Section 2.02 Form of Trustee’s Certificate of Authentication. The Trustee’s certificate of authentication
shall be in substantially the following form: 
 CERTIFICATE OF AUTHENTICATION 

This is one of the Senior Debt Securities of the series designated herein referred to in the within-mentioned Senior Debt Securities
Indenture. 
 Dated:
                                         
        
  

			
	THE BANK OF NEW YORK MELLON,
		 	as Trustee
		
	By:	 	 
		 	Authorized Signatory

 ARTICLE 3 

THE SENIOR DEBT SECURITIES 

Section 3.01 Amount Unlimited; Issuable in Series. The aggregate principal amount of Senior Debt Securities which may be
authenticated and delivered under this Senior Debt Securities Indenture is unlimited. The Senior Debt Securities may be issued in one or more series. 

There shall be established by or pursuant to a Board Resolution and, subject to Section 3.03, set forth, or determined in the manner
provided, in an Officer’s Certificate, or established in one or more indentures supplemental hereto, prior to the initial issuance of Senior Debt Securities of any series, 

  
 -15- 

 (a) the title of the Senior Debt Securities of the series (which shall
distinguish the Senior Debt Securities of the series from all other Senior Debt Securities); 
 (b) any limit upon the
aggregate principal amount of the Senior Debt Securities of the series that may be authenticated and delivered under this Senior Debt Securities Indenture (except for Senior Debt Securities authenticated and delivered upon registration of transfer
of, or in exchange for, or in lieu of, other Senior Debt Securities of the series pursuant to Section 3.04, 3.05, 3.06, 9.06 or 11.07 and except for any Senior Debt Securities which, pursuant to Section 3.03, are deemed never to have been
authenticated and delivered hereunder); 
 (c) the Person to whom any interest on a Senior Debt Security of the series shall
be payable, if other than the person in whose name that Senior Debt Security (or one or more Predecessor Senior Debt Securities) is registered at the close of business on the Regular Record Date for that interest; 

(d) the date or dates on which the principal of (and premium, if any, on) the Senior Debt Securities of the series is payable;

 (e) under what conditions, if any, another Person may be substituted for the Company as the issuer of the Senior Debt
Securities of the series (including pursuant to Article 8); 
 (f) the ranking of the Senior Debt Securities of the series
relative to the debt and equity issued by the Company, including to what extent it may rank junior in right of payment to other of the Company’s obligations or in any other manner; 

(g) the rate or rates, if any, at which the Senior Debt Securities of the series shall accrue interest or the manner of
calculation of such rate or rates, if any, the date or dates, if any, from which such interest shall accrue, whether Section 3.07 shall apply to the Senior Debt Securities of such series, the Interest Payment Dates on which such interest, if
any, shall be payable or the manner of determination of such Interest Payment Dates, if other than as specified in Section 3.07 including the determination of the Record Date, and, in the case of registered Senior Debt Securities, the Regular
Record Date for the interest payable on any Interest Payment Date, and any dates required to be established pursuant to Section 7.01; 

(h) whether any premium, upon redemption or otherwise, shall be payable by the Company on Senior Debt Securities of the
series; 
 (i) whether the Senior Debt Securities of the series are to be issued as Original Issue Discount Securities and
the amount of the discount at which such Original Issue Discount Securities may be issued; 
 (j) provisions, if any, for
the discharge and defeasance of Senior Debt Securities of the series; 

  
 -16- 

 (k) any additional condition to which payment of any principal of (or premium, if
any) or interest on Senior Debt Securities of the series will be subject; 
 (l) the place or places where the principal of
(and premium, if any) and any interest on Senior Debt Securities of the series shall be payable, and the Paying Agent or Paying Agents who shall be authorized to pay principal of (and premium, if any) and interest on Senior Debt Securities of such
series, at least one of which Paying Agents shall have an office or agency in the Borough of Manhattan, The City of New York United States or the City of London, United Kingdom; 

(m) other than with respect to any redemption of the Senior Debt Securities pursuant to Sections 11.08 and 11.09 (unless it is
established pursuant to this Section 3.01 that Section 11.08 and/or Section 11.09 shall not apply to a particular series of Senior Debt Securities), whether or not such series of Senior Debt Securities are to be redeemable, in whole
or in part, at the Company’s option and, if so redeemable, the period or periods within which, the price or prices at which and the terms and conditions upon which, Senior Debt Securities of the series may be redeemed, including the date
referred to in Section 11.08; 
 (n) if there are any conditions on the Company repurchasing the Senior Debt Securities
of the series, such conditions; 
 (o) the obligation, if any, of the Company to redeem or purchase Senior Debt Securities
of the series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which, and the terms and conditions upon which Senior Debt Securities of the
series shall be redeemed or purchased, in whole or in part, pursuant to such obligation (except with respect to any redemption of Senior Debt Securities pursuant to Section 11.08 (unless it is established pursuant to this Section 3.01 that
Section 11.08 shall not apply to a particular series of Senior Debt Securities)); 
 (p) if other than denominations of
$1,000 and any integral multiple thereof, the denominations in which Senior Debt Securities of the series in each applicable form shall be issuable; 

(q) if other than the principal amount thereof, the portion, or the manner of calculation of such portion, of the principal
amount of Senior Debt Securities of the series which shall be payable upon a declaration of acceleration or acceleration of the Maturity thereof pursuant to Section 5.02, upon redemption of Senior Debt Securities of any series which are
redeemable before their Stated Maturity, or which the Trustee shall be entitled to file and prove a claim pursuant to Section 5.04; 

(r) if Additional Amounts, pursuant to Section 10.04, will not be payable by the Company; 

(s) whether the Senior Debt Securities of the series will be issued in registered form or in bearer form or both and, if
bearer securities will be issued, whether or not the 

  
 -17- 

 
Senior Debt Securities will be issued with Coupons attached and any other provisions related to bearer securities, whether a Global Security will initially be executed and delivered, whether
registered Senior Debt Securities of the series may be exchanged for bearer Senior Debt Securities of the series and vice versa, and the circumstances under which any such exchanges, if permitted, may be made and whether any
restrictions will be applicable to the offer, sale or delivery of bearer or registered Senior Debt Securities; 
 (t) if
other than Dollars, provisions, if any, for the Senior Debt Securities of the series to be denominated, and payments thereon to be made, in Foreign Currencies and specifying the manner and place of payment thereon and any other terms with respect
thereto and the manner of determining the equivalent thereof in Dollars for purposes of the definition of “Outstanding” in Section 1.01; 

(u) if other than the currency in which the Senior Debt Securities of that series are denominated, the currency in which
payment of the principal of (and premium, if any) or interest, if any, on the Senior Debt Securities of such series shall be payable; 

(v) if the principal of (and premium, if any) or interest, if any, on the Senior Debt Securities of such series are to be
payable, at the election of the Company or a Holder thereof, in a currency other than that in which the Senior Debt Securities are denominated, the period or periods within which, and the terms and conditions upon which, such election may be made;

 (w) whether the Senior Debt Securities of the series shall be issued in whole or in part in the form of one or more
Global Securities and the Depositary and the initial Holder with respect to such Global Security or Senior Debt Securities; 

(x) if the Senior Debt Securities of such series are to be issuable in definitive form (whether upon original issue or upon
exchange of a temporary Senior Debt Security of such series or otherwise) only upon receipt of certain certificates or other documents or satisfaction of other conditions, then the form and terms of such certificates, documents or conditions; 

(y) if the amounts of payments of principal of (and premium, if any) or interest, if any, on the Senior Debt Securities of the
series may be determined with reference to an index or are otherwise not fixed on the original issue date thereof, the manner in which such amounts shall be determined and the Calculation Agent, if any, who shall be appointed and authorized to
calculate such amounts; 
 (z) the terms, if any, on which such Senior Debt Securities may or shall be converted into or
exchanged at the option of the Company or otherwise for stock or other securities of the Company or another entity or other entities, into a basket or baskets of such securities, into an index or indices of such securities, into the cash value
therefor or into any combination of the foregoing, any specific terms relating to the adjustment thereof and the period during which such Senior Debt Securities may or shall be so converted or exchanged; 

  
 -18- 

 (aa) any other Events of Default or covenants with respect to the Senior Debt
Securities of such series and, if other than as specified in this Senior Debt Securities Indenture, the terms thereof; 

(bb) the forms of Senior Debt Securities of the series and any Coupons appertaining thereto; 

(cc) any applicable additional provision or provisions related to the U.K. Bail-In Power; and 

(dd) any other terms of the series (which terms shall not be inconsistent with the provisions of this Senior Debt Securities
Indenture, except as permitted by Section 9.01(d)). 
 All Senior Debt Securities of any one series shall be substantially identical
except as to denomination and except as may otherwise be provided in any such indenture supplemental hereto. 
 If the forms of Senior Debt
Securities of any series and any Coupons to be attached thereto, or any of the terms thereof, are established by action taken by the Board of Directors of the Company, copies of the Board Resolutions in respect thereof shall be delivered to the
Trustee at or prior to the delivery of the Company Order pursuant to Section 3.03 for the authentication and delivery of such Senior Debt Securities. 

Section 3.02 Denominations. The Senior Debt Securities of each series shall be issuable in such denominations as shall be
specified as contemplated by Section 3.01. In the absence of any such specification with respect to the Senior Debt Securities of any series, the Senior Debt Securities of each series shall be issuable in denominations of $1,000 and any
integral multiple thereof. 
 Section 3.03 Execution, Authentication, Delivery and Dating. The Senior Debt Securities and any
Coupons shall be executed on behalf of the Company by any two of the following: any of its Authorized Officers or any Director or Vice President in the Capital Markets Execution section (or any successor section thereto) of Barclays Treasury. The
signature of any of these officers on the Senior Debt Securities or the Coupons may be manual or facsimile. Senior Debt Securities or Coupons bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the
Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Senior Debt Securities or Coupons. 

At any time and from time to time after the execution and delivery of this Senior Debt Securities Indenture, the Company may deliver Senior
Debt Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Senior Debt Securities, and the Trustee in accordance with the Company Order shall
authenticate and deliver such Senior Debt Securities. In authenticating such Senior Debt Securities and accepting the additional responsibilities under this Senior Debt Securities Indenture in relation to such Senior Debt Securities the Trustee
shall be entitled to 

  
 -19- 

 
receive, and (subject to Section 6.01) shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel, each stating that the form and terms thereof have
been established in conformity with the provisions of this Dated Subordinated Debt Securities Indenture, and complying with Section 1.02. 

The Trustee shall not be required to authenticate such Senior Debt Securities if the issue of such Senior Debt Securities pursuant to this
Senior Debt Securities Indenture will affect the Trustee’s own rights, duties or immunities under the Senior Debt Securities or any Coupons and this Senior Debt Securities Indenture or otherwise in a manner which is not reasonably acceptable to
the Trustee. 
 Each registered Senior Debt Security shall be dated the date of its authentication. 

No Senior Debt Security or Coupon appertaining thereto shall be entitled to any benefit under this Senior Debt Securities Indenture or be
valid or obligatory for any purpose unless there appears on such Senior Debt Security a certificate of authentication substantially in the form provided for herein executed by or on behalf of the Trustee by manual signature, and such certificate
upon any Senior Debt Security shall be conclusive evidence, and the only evidence, that such Senior Debt Security has been duly authenticated and delivered hereunder and that such Senior Debt Security or Coupon is entitled to the benefits of this
Senior Debt Securities Indenture. Notwithstanding the foregoing, if any Senior Debt Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Senior Debt Security to
the Trustee for cancellation as provided in Section 3.09, for all purposes of this Senior Debt Securities Indenture such Senior Debt Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled
to the benefits of this Senior Debt Securities Indenture. 
 Section 3.04 Temporary Senior Debt Securities. Pending the
preparation of definitive Senior Debt Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Senior Debt Securities substantially of the tenor of the definitive Senior Debt
Securities in lieu of which they are issued, which Senior Debt Securities may be printed, lithographed, typewritten, photocopied or otherwise produced. Temporary Senior Debt Securities may be issued as registered Senior Debt Securities in any
authorized denomination, and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Senior Debt Securities may determine, all as evidenced by such execution. 

If temporary Senior Debt Securities of any series are issued, the Company will cause, if so required by the terms of such temporary Senior
Debt Securities, definitive Senior Debt Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Senior Debt Securities of such series, the temporary Senior Debt Securities of such series shall be
exchangeable for definitive Senior Debt Securities of such series containing identical terms and provisions upon surrender of the temporary Senior Debt Securities of such series (including any and all unmatured Coupons or matured Coupons in default
attached thereto) 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 Senior Debt Securities of any series the Company shall
execute, and the Trustee shall authenticate and deliver 

  
 -20- 

 
in exchange therefor, a like aggregate principal amount of definitive Senior Debt Securities of the same series of authorized denominations containing identical terms and provisions. Until so
exchanged, unless otherwise provided therein or in a supplemental indenture relating thereto, the temporary Senior Debt Securities of any series shall in all respects be entitled to the same benefits (but shall be subject to all the limitations of
rights) under this Senior Debt Securities Indenture as definitive Senior Debt Securities of such series. 
 Section 3.05
Registration, Registration of Transfer and Exchange. 
 (a) The Company shall cause to be kept at the Corporate Trust
Office of the Trustee a register (the register maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Senior Debt Security Register”) in
which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Senior Debt Securities and of transfers of Senior Debt Securities. The Trustee is hereby appointed “Senior Debt Security
Registrar” for the purpose of registering Senior Debt Securities and transfers of Senior Debt Securities as herein provided. 

Upon surrender for registration of transfer of any Senior Debt 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 make available for delivery, in the name of the designated transferee or transferees, one or more new Senior Debt Securities of the same series, of
any authorized denominations and of like tenor and aggregate principal amount. 
 At the option of the Holder, Senior Debt
Securities of any series may be exchanged for other Senior Debt Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount upon surrender of the Senior Debt Securities to be exchanged at such
office or agency. Whenever any Senior Debt Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and make available for delivery, the Senior Debt Securities which the Holder making the exchange is
entitled to receive. 
 All Senior Debt Securities issued upon any registration of transfer or exchange of Securities shall
be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Senior Debt Securities Indenture, as the Senior Debt Securities surrendered upon such registration of transfer or exchange. 

Every Senior Debt 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 Senior Debt 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 11.07 not
involving any transfer. 

  
 -21- 

 If the Senior Debt Securities of any series (or of any series and specified
tenor) are to be redeemed in part, the Company shall not be required (i) to issue, register the transfer of or exchange any Senior Debt 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 fifteen (15) days before the day of the mailing of a notice of redemption of any such Senior Debt Securities selected for redemption under Section 11.03 and ending at the close of business on the day of
such mailing, or (ii) to register the transfer of or exchange any Senior Debt Security so selected for redemption in whole or in part, except the unredeemed portion of any Senior Debt Security being redeemed in part. 

(b) Except as otherwise specified pursuant to Section 3.01, registered Senior Debt Securities of any series may be
exchanged for a like aggregate principal amount of registered Senior Debt Securities of such series of other authorized denominations containing identical terms and provisions. Senior Debt Securities to be exchanged shall be surrendered at an office
or agency of the Company designated pursuant to Section 10.02 for such purpose, and the Company shall execute, and the Trustee shall authenticate and deliver, in exchange therefor the Senior Debt Security or Senior Debt Securities of the same
series which the Holder making the exchange shall be entitled to receive. 
 (c) The provisions of this Section 3.05(c)
shall apply only to Global Securities unless as otherwise specified as contemplated by Section 3.01: 
 (i) Each Global
Security authenticated under this Senior Debt Securities 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 Senior Debt Security for all purposes of this Senior Debt Securities Indenture. 

(ii) Notwithstanding any other provision in this Senior Debt Securities Indenture, no Global Security may be exchanged in
whole or in part for Senior Debt 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 (x) has notified the Company that it is unwilling or unable to continue as Depositary for such Global Security or (y) has ceased to be a clearing agency registered under the Exchange Act, (B) there shall have
occurred and be continuing an Event of Default with respect to such Global Security, (C) at any time if the Company at its option and in its sole discretion determines that the Global Securities of a particular series should be exchanged for
definitive Senior Debt Securities of that series in registered form 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.

  
 -22- 

 (iii) Subject to Clause (ii) above, any exchange of a Global Security for
other Senior Debt Securities may be made in whole or in part, and all Senior Debt 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.

 (iv) Every Security authenticated and made available for delivery 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 3.05 and Sections 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
Senior Debt 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 Stolen Senior Debt Securities. If any mutilated Senior Debt Security or Coupon
(including any Global Security) is surrendered to the Trustee, the Company may execute and the Trustee shall, in the case of a Senior Debt Security, authenticate and deliver, or in the case of a Coupon deliver, in exchange therefor a new Senior Debt
Security or Coupon of the same series containing identical terms and provisions and of like amount, and bearing a number not contemporaneously outstanding. 

If there shall be delivered to the Company and to the Trustee (a) evidence to their satisfaction of the destruction, loss or theft of any
Senior Debt Security (including any Global Security) or Coupon and (b) such security or indemnity as may be required by them to save each of them and any agent of any of them harmless, then, in the absence of notice to the Company or the
Trustee that such Senior Debt Security or Coupon has been acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate and deliver, or in the case of a Coupon deliver, in lieu of any such
destroyed, lost or stolen Senior Debt Security or Coupon a new Senior Debt Security or Coupon of the same series containing identical terms and provisions and of the amount, and bearing a number not contemporaneously outstanding. 

In case any such mutilated, destroyed, lost or stolen Senior Debt Security or Coupon has become or is about to become due and payable, the
Company in its discretion may, instead of issuing a new Senior Debt Security or Coupon, pay such Senior Debt Security or Coupon. 
 Upon the
issuance of any new Senior Debt Security or Coupon 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 Senior Debt Security or Coupon of any series issued pursuant to this
Section in lieu of any destroyed, lost or stolen Senior Debt Security or Coupon shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Senior Debt Security or Coupon shall be at
any time enforceable by anyone, and shall be entitled to all the benefits of this Senior Debt Securities Indenture equally and proportionately with any and all other Senior Debt Securities and Coupons of that series duly issued hereunder. 

  
 -23- 

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

Section 3.07 Payment. Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Senior Debt
Securities, interest on any Senior Debt Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid, in the case of registered Senior Debt Securities, 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 or, in the case of Global Securities held by any Holder, to the Holder including through a Paying Agent of the Company
designated pursuant to Section 3.01 by wire transfer of same-day funds to the Holder. 
 Any interest on any series of Senior Debt
Securities 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 Senior Debt 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 Senior Debt 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 fifteen (15) days and not less
than ten (10) days prior to the date of the proposed payment and not less than ten (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 Senior Debt Securities of such series in the manner set
forth in Section 1.06, not less than ten (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 Senior Debt 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 Senior Debt Securities of any series in any
other lawful manner not inconsistent with the 

  
 -24- 

 
requirements of any securities exchange on which such Senior Debt 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. 
 In the case
of registered Senior Debt Securities where payment is to be made in Dollars, payment at any Paying Agent’s office outside The City of New York will be made in Dollars by check drawn on, or, at the request of the Holder, by wire transfer of
same-day funds to a Dollar account maintained by the payee with, a bank in The City of New York. 
 In the case of registered Senior Debt
Securities where payment is to be made in a Foreign Currency or Euro, payment will be made as established pursuant to Section 3.01. 

Subject to the foregoing provisions of this Section, each Senior Debt Security delivered under this Senior Debt Securities Indenture upon
registration of transfer of or in exchange for or in lieu of any other Senior Debt Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Senior Debt Security. 

Section 3.08 Persons Deemed Owners. Prior to due presentment of a registered Senior Debt 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 such Senior Debt Security is registered as the owner of such Senior Debt Security for the purpose of receiving (subject to Section 3.07)
payment of principal of (and premium, if any) and interest, if any, on such Senior Debt Security and for all other purposes whatsoever, whether or not such Senior Debt Security be overdue, and neither the Company, the Trustee nor any agent of the
Company or the Trustee shall be affected by notice to the contrary. 
 Section 3.09 Cancellation. All Senior Debt Securities and
Coupons 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 may at any time deliver to the Trustee for cancellation any Senior Debt Securities previously authenticated and delivered hereunder and Coupons which the Company 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 Senior Debt Securities previously authenticated hereunder and Coupons which the Company has not issued and sold, and all Senior Debt Securities and Coupons so
delivered shall be promptly cancelled by the Trustee. No Senior Debt Securities shall be authenticated in lieu of or in exchange for any Senior Debt Securities cancelled as provided in this Section, except as expressly permitted by the provisions of
the Senior Debt Securities of any series or pursuant to the provisions of this Senior Debt Securities Indenture. The Trustee shall deliver to the Company all cancelled Senior Debt Securities and Coupons held by the Trustee. 

Section 3.10 Computation of Interest. Except as otherwise specified pursuant to Section 3.01 for Senior Debt Securities of
any series, and as set forth in such Senior Debt Securities, payments of interest on the Senior Debt Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months. 

  
 -25- 

 Section 3.11 CUSIP Numbers. The Company in issuing the Senior Debt 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 any such notice may state that no representation is made as
to the correctness of such numbers either as printed on the Senior Debt 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. 

ARTICLE 4 

SATISFACTION AND DISCHARGE 

Section 4.01 Satisfaction and Discharge of Senior Debt Securities Indenture. This Senior Debt Securities Indenture shall upon
Company Request cease to be of further effect with respect to Senior Debt Securities of any series (except as to any surviving rights of registration of transfer or exchange of Senior Debt Securities of such series herein expressly provided for),
and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Senior Debt Securities Indenture with respect to the Senior Debt Securities of such series when 

(a) either 

(i) all Senior Debt Securities of such series theretofore authenticated and delivered and all Coupons, if any, appertaining
thereto (other than (x) Senior Debt Securities and Coupons which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.06 and (y) Senior Debt Securities or Coupons 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 Senior Debt Securities and Coupons referred to in clause (i) above not theretofore delivered to the Trustee
for cancellation have become due and payable, and the Company has deposited or caused to be deposited with the Trustee, as trust funds in trust for the purpose, an amount in cash sufficient to pay and discharge all claims with respect to such Senior
Debt Securities and Coupons not theretofore delivered to the Trustee for cancellation, for principal (and premium, if any) and accrued interest, if any, to the date of such deposit (in the case of Senior Debt Securities and Coupons 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 with respect to the Senior Debt Securities of such series; and 

(c) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all
conditions precedent herein provided for relating to the satisfaction and discharge of this Senior Debt Securities Indenture with respect to the Senior Debt Securities of such series have been complied with. 

  
 -26- 

 Notwithstanding any satisfaction and discharge of this Senior Debt Securities Indenture, the
obligations of the Company to the Trustee under Section 6.07, the obligations of the Trustee to any Authenticating Agent under Section 6.14 and, if cash 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 such satisfaction and discharge. 

Section 4.02 Application of Trust Money. Subject to the provisions of the last paragraph of Section 10.03, all cash deposited
with the Trustee pursuant to Section 4.01 shall be held in trust and such cash shall be applied by it, in accordance with the provisions of the Senior Debt Securities of such series, any Coupons appertaining thereto and this Senior Debt
Securities Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for
the payment of which such cash have been deposited with the Trustee. 
 ARTICLE 5 

REMEDIES 

Section 5.01 Events of Default. “Event of Default”, wherever used herein with respect to Senior Debt Securities of a
particular series, means, whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or, subject to the penultimate paragraph of Section 5.03, be effected by operation of law pursuant to any judgment, decree
or order of any court or any order, rule or regulation of any administrative or governmental body, except as otherwise provided as contemplated by Section 3.01 with respect to any series of Senior Debt Securities, (i) the Company failed to
pay any principal or any interest on any Senior Debt Securities of that series within fourteen (14) days from the due date for payment and the principal or interest has not been duly paid within a further fourteen (14) days following
written notice from the Trustee to the Company or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding Senior Debt Securities of that series requiring the non-payment to be made good,
(ii) the making of an order by an English court of competent jurisdiction which is not successfully appealed within thirty (30) days of the making of such order, or the valid adoption by the shareholders of the Company of an effective
resolution, for the winding up of the Company (other than under or in connection with a scheme of reconstruction, merger or amalgamation not involving bankruptcy or insolvency), (iii) any other Event of Default provided with respect to Senior
Debt Securities of such series pursuant to Section 3.01 or (iv) the default in the performance, or breach, of any covenant or warranty of the Company in this Senior Debt Securities Indenture (other than a covenant or warranty a default in
whose performance or whose breach is elsewhere in this Section 5.01 specifically dealt with) provided, that default or breach has not been remedied within twenty-one (21) days of receipt by the Company and the Trustee from the Holders of
at least 25% aggregate principal amount of the Outstanding Senior Debt Securities of that series of a written notice requiring the breach to be remedied or written notice from the Trustee to the Company requiring the breach to be remedied. 

  
 -27- 

 Section 5.02 Acceleration of Maturity; Rescission and Annulment. If an Event of
Default occurs with respect to Senior Debt Securities of any series and is continuing, then in every such case the Trustee or the Holder or Holders of not less than 25% in aggregate principal amount of the Outstanding Senior Debt Securities of such
series may declare the principal amount of, any accrued but unpaid interest (or, in the case of Original Issue Discount Securities, such portion of the principal amount of such Original Issue Discount Securities as may be specified by the terms
thereof) on all the Senior Debt Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by such Holder or Holders), and upon any such declaration such principal and interest (or
specified amount) shall become immediately due and payable. 
 At any time after such a declaration of acceleration with respect to Senior
Debt Securities of any series has been made but before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holder or Holders of a majority in aggregate principal amount of
the Outstanding Senior Debt Securities of such series, by written notice to the Company and the Trustee, may rescind such declaration of acceleration and its consequences (including any Event of Default under another series of Senior Debt Securities
arising therefrom) but only if 
 (a) the Company has paid or deposited with the Trustee a sum sufficient to pay 

(i) the principal of (and premium, if any, on) any Senior Debt Securities of such series which have become due otherwise than
by such declaration of acceleration and any due and payable interest, and overdue interest, if any, thereon at the rate or rates prescribed therefor in such Senior Debt Securities, 

(ii) 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 
 (b) all Events of Default with respect to Senior Debt Securities of such
series 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 covenants that, if it fails to pay any principal or any interest on any Senior Debt Securities of that series within fourteen
(14) days from the due date for payment and the principal or interest has not been duly paid within a further fourteen (14) days following written notice from the Trustee to the Company or to the Company and the Trustee by the Holders of
at least 25% in aggregate principal amount of the Outstanding Senior Debt Securities of that series requiring the non-payment to be made good, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Senior
Debt Securities and the holders of any 

  
 -28- 

 
Coupons appertaining thereto, the whole amount then due and payable on such Senior Debt Securities and Coupons for principal (and premium, if any) and interest, if any, and interest on any
overdue principal (and premium, if any), at the rate or rates prescribed therefor in such Senior Debt 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 Senior Debt 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 Senior Debt Securities of such series and holders of any Coupons
appertaining thereto 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 Senior Debt Securities Indenture
or in aid of the exercise of any power granted herein, or to enforce any other proper remedy, including the institution of proceedings for the winding up of the Company in England (but not elsewhere). 

The Trustee and Holders of Senior Debt Securities by their acceptance thereof will be deemed to have waived any right of set-off or
counterclaim with respect to the Senior Debt Securities or this Senior Debt Securities Indenture that they might otherwise have against the Company. 

Notwithstanding the foregoing, failure to make any payment in respect of a series of Senior Debt Securities shall not be a default in respect
of such Senior Debt Securities if such payment is withheld or refused (i) in order to comply with any law or regulation or with the order of any court of competent jurisdiction or (ii) in case of doubt as to the validity or applicability
of any such law, regulation or order, in accordance with advice given as to such validity or applicability at any time before the expiry of such period of fourteen (14) days by independent legal advisors chosen by the Company and acceptable to
the Trustee (the “Withheld Amount”); provided, however, that the Trustee may by notice to the Company require the Company to take such action (including but not limited to proceedings for a declaration by a court of competent
jurisdiction) as the Trustee may be advised in an Opinion of Counsel, upon which opinion the Trustee may conclusively rely, is appropriate and reasonable in the circumstances to resolve such doubt, in which case the Company shall forthwith take and
expeditiously proceed with such action and shall be bound by any final resolution of the doubt resulting therefrom. If any such action results in a determination that the relevant payment can be made without violating any applicable law, regulation
or order then the provisions of the preceding sentence shall cease to have effect and the payment shall become due and payable on the expiration of fourteen (14) days after the Trustee gives written notice to the Company informing it of such
determination. 
 In lieu of the Trustee taking the above actions, upon failure to make payment, if lawful, the Company may place the
Withheld Amounts or a sum equal to the Withheld Amounts promptly on interest bearing deposit set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of the Senior Debt Securities. The
Company will give notice if at any time it is lawful to pay any Withheld amounts to the Holders or holders of Coupons or if such payment is possible as soon as any doubt as to the validity or applicability of the law, regulation or order is
resolved. The notice will give the date on which the Withheld Amount and the interest accrued on it will be paid. This date shall be the earliest 

  
 -29- 

 
day after the day on which it is decided Withheld Amounts can be paid on which the interest bearing deposit falls due for repayment or may be repaid without penalty. On such date, the Company
shall be bound to pay the Withheld Amount together with interest accrued on it, the payment due date. Payment of the Withheld Amounts will be subject to applicable laws, regulations or court orders, without prejudice to Section 10.04. Interest
accrued on any Withheld Amount shall be paid net of any taxes required by applicable law to be withheld or deducted and the Company shall not be obliged to pay any Additional Amounts in respect of any such withholding or deduction. 

No recourse for the payment of the principal of (or premium, if any) or interest, if any, on any Senior Debt Security, or for any claim based
thereon or on any Coupon or otherwise in respect thereof or of such Coupon and no recourse under or upon any obligation, covenant or agreement of the Company in this Senior Debt Securities Indenture, or in any Senior Debt Security or in any Coupon,
or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer or director, past, present or future, of the Company, either directly or through the Company, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, it being expressly understood that to the extent lawful all such liability is hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this Senior Debt Securities Indenture and the issue of the Senior Debt Securities. 
 Section 5.04
Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition, winding-up or other judicial proceeding relative to the Company or any
other obligor upon the Senior Debt Securities of any series or to the property of the Company or such other obligor or their creditors (other than under or in connection with a scheme of amalgamation or reconstruction not involving bankruptcy or
insolvency), the Trustee (irrespective of whether the principal of the Senior Debt Securities of such series shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made
any demand on the Company for the payment of overdue principal (and premium, if any) or interest, if any) 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 and 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 of a Senior Debt Security and each holder of a Coupon to make
such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to such Holders or holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due to the Trustee under Section 6.07. 
 Subject to
Section 3.01, Section 8.03 and Section 9.02, nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder of any Senior Debt Security or any holder of any
Coupon any plan of reorganization, arrangement, adjustment, or composition affecting any Senior Debt Securities or Coupons or the rights of any Holder of any Senior Debt Security or any holder of any Coupon or to authorize the

  
 -30- 

 
Trustee to vote in respect of the claim of any such Holder or holder in any such proceeding; provided 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 Senior Debt Securities. All rights of action and claim under this Senior Debt Securities Indenture or the Senior Debt Securities or Coupons may be prosecuted and enforced by the Trustee without the possession of any
of the Senior Debt Securities or Coupons 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 Senior Debt Securities and any holders of Coupons 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 or, after an Event of Default, any money or other property distributable in respect of the Company’s obligations under this Indenture in respect of any series of Senior Debt Securities 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 or other property on account of principal (and premium, if any) or interest, if any, upon presentation of such Senior Debt Securities and any
Coupons 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 applicable to such series of Senior Debt Securities in respect of which or for the benefit of which such money or other property has been collected or is distributable due the Trustee (including any predecessor trustee) under
Section 6.07; 
 SECOND: To the payment of the amounts then due and unpaid for principal of (and premium, if any) and interest, if any,
on such series of Senior Debt Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Senior Debt Securities for
principal (and premium, if any) and interest, if any, respectively; and 
 THIRD: To the payment of the balance, if any, to the Company or
as a court of competent jurisdiction may direct. 
 Section 5.07 Limitation on Suits. No Holder of any Senior Debt Security of
any series or holder of any Coupon shall have any right to institute any proceeding, judicial or otherwise, with respect to this Senior Debt Securities Indenture, or for the appointment of a receiver 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 Senior Debt Securities of the same series specifying such Event of Default and stating that such notice is a “Notice of Default” hereunder; 

  
 -31- 

 (b) the Holders of not less than 25% in aggregate principal amount of the
Outstanding Senior Debt Securities of such series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name, as Trustee hereunder; 

(c) such Holder of a Senior Debt Security or holder of a Coupon has offered to the Trustee security or indemnity satisfactory
to the Trustee in its sole discretion against the costs, expenses and liabilities to be incurred in compliance with such request; 

(d) the Trustee for sixty (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 sixty day (60-day) period by the Holders of a majority in principal amount of the Outstanding Senior Debt Securities of such series; 

it being understood and intended that no one or more Holders of Senior Debt Securities of a particular series or holders of Coupons
appertaining thereto shall have any right in any manner whatever by virtue of, or by availing of any provision of this Senior Debt Securities Indenture to affect, disturb or prejudice the rights of any other such Holders or holders, or to obtain or
to seek to obtain priority or preference over any other such Holders or holders or to enforce any right under this Senior Debt Securities Indenture, except in the manner herein provided and for the equal and ratable benefit of all Holders of Senior
Debt Securities of such series or holders of such Coupons. 
 Section 5.08 Unconditional Right of Holders to Receive Principal,
Premium and Interest, if any. Notwithstanding any other provision in this Senior Debt Securities Indenture, the Holder of any Senior Debt Security or the holder of any Coupon appertaining thereto shall have the right, which is absolute and
unconditional, to receive (subject to Section 3.07) payment of the principal of (and premium, if any) and interest, if any, on such Senior Debt Security on the respective Stated Maturities as expressed in such Senior Debt Security or Coupon
(or, in the case of redemption, on or after 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 or holder. 

Section 5.09 Restoration of Rights and Remedies. If the Trustee or any Holder of any Senior Debt Security or the holder of any
Coupon has instituted any proceeding to enforce any right or remedy under this Senior Debt Securities Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder
or holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders of Senior Debt Securities and the holders of Coupons shall be restored severally and respectively to their former
positions hereunder and thereafter all rights and remedies of the Trustee and the Holders of Senior Debt Securities and the holders of Coupons 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 Senior Debt 

  
 -32- 

 
Securities or Coupons in the last paragraph of Section 3.06, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders of Senior Debt Securities or holders of
Coupons is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or
in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

Section 5.11 Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Senior Debt Security or
holder of any Coupon 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 of Senior Debt Securities or holders of any Coupons may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders of Senior Debt Securities or holders
of any Coupons, as the case may be. 
 Section 5.12 Control by Holders. The Holders of a majority in aggregate principal amount
of the Outstanding Senior Debt 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 Senior Debt Securities of such series, provided that 
 (a) such direction shall not be in conflict
with any rule of law or with this Senior Debt Securities Indenture; 
 (b) such direction shall not be unjustly prejudicial
to the Holders of any Senior Debt Securities of such series not taking part in the direction, as determined by the Trustee in its sole discretion; 

(c) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; and 

(d) no provision shall be deemed to require the Trustee to take any action or forebear from any action directed by Holders
unless the Trustee has received security and/or indemnity satisfactory to it in its sole discretion. 
 Section 5.13 Waiver of Past
Events of Default. The Trustee may (but is not obligated to) without prejudice to its rights in respect of any subsequent Event of Default from time to time and at any time waive any Event of Default or authorize any proposed Event of Default by
the Company, provided that in its opinion the interests of the Holders shall not be materially prejudiced thereby and, provided, further, that the Trustee shall not exercise any powers conferred on it by this clause in
contravention of any notice in writing to the Company and the Trustee made pursuant to Section 5.02 hereof but so that no such notice shall affect any waiver or authorization previously given or made. 

  
 -33- 

 In addition, the Holders of not less than a majority in aggregate principal amount of the
Outstanding Senior Debt Securities of any series may on behalf of the Holders of all the Senior Debt Securities of such series and holders of related Coupons waive any past Event of Default hereunder with respect to such series and its consequences,
except an Event of Default 
 (a) in the payment of the principal of (or premium, if any) or interest, if any on any Senior
Debt Security of such series, or 
 (b) in respect of a covenant or provision hereof which under Article Nine cannot be
modified or amended without the consent of the Holder of each Outstanding Senior Debt Security of such series affected. 
 Upon any such
waiver, such Event of Default shall cease to exist, and any Event of Default with respect to any series arising therefrom shall be deemed to have been cured and not to have occurred for every purpose of this Senior Debt Securities Indenture, but no
such waiver shall extend to any subsequent or other Event of Default or impair any right consequent thereon. 
 Section 5.14
Undertaking for Costs. All parties to this Senior Debt Securities Indenture agree, and each Holder of any Senior Debt Security and each holder of any Coupon by his acceptance thereof shall be deemed to have agreed, that any court may in its
discretion require, in any suit for the enforcement of any right or remedy under this Senior Debt Securities Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant
to such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and
good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder or group of Holders holding in the aggregate more than
10% in principal amount of the Outstanding Senior Debt Securities of any series, or to any suit instituted by any Holder or holder of a Coupon for the enforcement of the payment of the principal of (or premium, if any) or interest, if any, on any
Senior Debt Security on or after the respective Stated Maturities expressed in such Senior Debt Security or Coupon (or, in the case of redemption, on or after the Redemption Date). 

Section 5.15 Waiver of Usury, Stay or Extension Laws. The Company covenants (to the extent that it may lawfully do so) that it
will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any 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 Senior Debt Securities Indenture; and the Company (to the extent 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. 

  
 -34- 

 ARTICLE 6 

THE TRUSTEE 

Section 6.01 Certain Duties and Responsibilities. (a) The duties and responsibilities of the Trustee shall be as provided by
the Trust Indenture Act and this Senior Debt Securities Indenture. Notwithstanding the foregoing, no provision of this Senior Debt Securities 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 Senior Debt Securities 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. 
 (b) 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 bad
faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to
the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

(c) In case 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 his or her own affairs. 

(d) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its
own negligent failure to act, or its own willful misconduct, except that 
 (i) this subsection shall not be construed to
limit the effect of subsection (b) of this Section; 
 (ii) the Trustee shall not be liable for any error of judgment
made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(iii) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in
accordance with the direction of the Holders of a majority in principal amount of the Outstanding Senior Debt Securities of any series. 

  
 -35- 

 Section 6.02 Notice of Defaults. Within ninety (90) days after the occurrence of
any default hereunder with respect to Senior Debt Securities of any series, the Trustee shall give the Holders of Senior Debt Securities of such series notice of such default as and to the extent provided by the Trust Indenture Act; provided,
however, that (i) in the case of any default of the character specified in Section 5.01(iv) with respect to Senior Debt Securities of such series, no such notice to Holders shall be given until at least ten (10) days after the
occurrence thereof and (ii) the Trustee shall be protected in withholding such notice if a trust committee of Responsible Officers of the Trustee determine in good faith that the withholding of such notice is in the interest of the Holders of
Senior Debt Securities of such series. For the purpose of this Section 6.02, 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 Senior Debt
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, coupon or 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; 
 (b) any request or direction of the Company mentioned herein shall be
sufficiently evidenced by a Company Request or Company Order and any action or resolution of the Board of Directors of the Company shall be sufficiently evidenced by a Board Resolution; 

(c) whenever in the administration of this Senior Debt Securities Indenture the Trustee shall deem it desirable that a matter
be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officer’s
Certificate; 
 (d) the Trustee may consult with counsel of its selection 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 Senior Debt
Securities Indenture at the request or direction of any of the Holders pursuant to this Senior Debt Securities Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee in its sole discretion
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, coupon or other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make

  
 -36- 

 
such further inquiry or investigation into such facts or matters as it may see fit at a reasonable cost to the Company and shall incur no liability or additional liability of any kind by reason
of such inquiry or investigation; provided that the Company shall not be required to disclose such information which the Company is prevented from disclosing as a matter of law or contract; 

(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 and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 

(h) the Trustee shall not be liable for any action taken or omitted by it in good faith and believed by it to be authorized or
within the discretion or rights or powers conferred upon it by this Senior Debt Securities Indenture; 
 (i) in no event
shall the Trustee be responsible or liable to the Company for punitive damages or any special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has
been advised of the likelihood of such loss or damage and regardless of the form of action; 
 (j) the Trustee shall not be
deemed to have notice or actual knowledge of any default or Event of Default unless written notice of any event which is in fact such a default or an Event of Default is received by a Responsible Officer of the Trustee at the Corporate Trust Office
of the Trustee, and such notice references the Senior Debt Securities and this Senior Debt Securities Indenture; 
 (k) the
Trustee may request that the Company deliver a certificate setting forth the names of individuals and titles of officers authorized to take specified actions pursuant to this Indenture; 

(l) 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 Person acting as Trustee in each of its other capacities hereunder; and 

(m) money held by the Trustee and any Paying Agent in trust hereunder may be held uninvested and the Trustee and any Paying
Agent shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. 

Section 6.04 Not Responsible for Recitals or Issuance of Senior Debt Securities. The recitals contained herein and in the Senior
Debt 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 Senior Debt Securities Indenture or of the Senior Debt Securities or Coupons, except that the Trustee represents and warrants that it has 

  
 -37- 

 
duly authorized, executed and delivered this Senior Debt Securities Indenture. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of
Senior Debt Securities or the proceeds thereof. 
 Section 6.05 May Hold Senior Debt Securities. The Trustee, any
Authenticating Agent, any Paying Agent, any Senior Debt Security Registrar and any Calculation Agent or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Senior Debt Securities or Coupons
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, Senior Debt Security Registrar, Calculation Agent or such other agent. 

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 in writing with the Company. 

Section 6.07 Compensation and Reimbursement. The Company agrees 

(a) to pay to the Trustee from time to time such compensation for all services rendered by it hereunder as agreed in writing
by the Company from time to time (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(b) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with any provision of this Senior Debt Securities 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 bad faith; 
 (c) to indemnify the
Trustee, its directors, officers, employees and agents, and any predecessor Trustee for, and to hold it harmless against, any loss, damage, claims, liability or expense incurred without negligence or bad faith on its part 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 or liability in connection with the exercise or performance of any of its powers or duties
hereunder but excluding any tax liabilities of the Trustee based upon, measured by or determined by the income of the Trustee; 

(d) the Trustee shall notify the Company in writing of the commencement of any action or claim in respect of which
indemnification may be sought promptly after the Trustee becomes aware of such commencement (provided that the failure to make such notification shall not affect the Trustee’s rights hereunder) and the Company shall be entitled to participate
in, and to the extent it shall wish, to assume the defense thereof, including the employment of counsel reasonably satisfactory to the Trustee; provided, however, that if the Trustee determines that an actual or potential conflict of
interest exists then the Trustee shall be entitled to retain separate counsel and the Company shall 

  
 -38- 

 
pay the fees and expenses of such counsel. The Trustee shall not compromise or settle any such action or claim without the written consent of the Company, which consent shall not be unreasonably
withheld; and 
 (e) as security for the performance of the obligations of the Company under this Section, the Trustee shall
have a senior claim, to which the Senior Debt Securities are hereby made subordinate, upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of (or premium, if any) or interest,
if any, on the Senior Debt Securities. 
 The provisions of this Section 6.07 shall survive the satisfaction and discharge of this
Senior Debt Securities Indenture, the termination of this Indenture for any reason or the earlier resignation or removal of the Trustee and any exercise of the U.K. Bail-In Power by the Relevant U.K. Resolution Authority with respect to any series
of Senior Debt Securities. 
 In addition to, but without prejudice to its other rights under this Senior Debt Securities Indenture, when
the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 5.01(ii), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended
to constitute expenses of administration under any applicable federal or state bankruptcy, insolvency or other similar law. 

“Trustee” for purposes of this Section shall include any predecessor Trustee; provided, however, that the negligence,
willful misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 
 Section 6.08
Disqualification; 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 Senior Debt Securities Indenture. 
 Section 6.09
Corporate Trustee Required; Eligibility. There shall at all times be a Trustee hereunder with respect to each series which shall 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 exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, subject to supervision or examination by Federal or State or District of Columbia authority
and, if there be such corporation willing and able to act as trustee on reasonable and customary terms, having its corporate trust office or agency in the Borough of Manhattan, The City of New York. If such corporation 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 corporation 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 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. 

  
 -39- 

 Section 6.10 Resignation and Removal; Appointment of Successor. (a) No
resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of
Section 6.11. 
 (b) The Trustee may resign at any time with respect to the Senior Debt Securities of one or more
series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within thirty (30) days after the giving of such notice of
resignation or notice of removal as described below, the resigning or removed Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Senior Debt Securities of such series. 

(c) The Trustee may be removed at any time with respect to the Senior Debt Securities of any series by Act of the Holders of a
majority in principal amount of the Outstanding Senior Debt Securities of such series delivered to the Trustee and to the Company. 

(d) If at any time: 

(i) the Trustee shall fail to comply with Section 6.08 after written request therefor by the Company or by any Holder who
has been a bona fide Holder of a Senior Debt Security of the series as to which the Trustee has a conflicting interest for at least six (6) months, or 

(ii) the Trustee shall cease to be eligible under Section 6.09 and shall fail to resign after written request therefor by
the Company or by any Holder who has been a bona fide Holder of a Senior Debt Security for at least six (6) months, or 

(iii) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee
or of its property shall be appointed or any public officer shall take charge, or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 

then, in any such case, (x) the Company by a Board Resolution may remove the Trustee with respect to any or all series of Senior Debt
Securities or (y) subject to Section 5.14, any Holder who has been a bona fide Holder of a Senior Debt Security for at least six (6) months (and, in the case of Section 6.10(d)(i) above, who is a Holder of a Senior Debt Security
of the series as to which the Trustee has a conflicting interest) 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 Senior Debt Securities and
the appointment of a successor Trustee or Trustees. 
 (e) If the Trustee shall resign, be removed or become incapable of
acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Senior Debt Securities of one or more series, the Company, by a Board Resolution, shall 

  
 -40- 

 
promptly appoint a successor Trustee or Trustees with respect to the Senior Debt Securities of such series (it being understood that any successor Trustee may be appointed with respect to the
Senior Debt Securities of one or more or all of such series and at any time there shall be only one Trustee with respect to the Senior Debt 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 Senior Debt Securities of any series shall be appointed by Act of the Holders of a majority in principal
amount of the Outstanding Senior Debt 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 Senior Debt Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Senior
Debt Securities of any series shall have been so appointed by the Company or the Holders of Senior Debt Securities of such series and accepted appointment in the manner hereinafter required by Section 6.11, any Holder who has been a bona fide
Holder of a Senior Debt Security of such series for at least six (6) 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
Senior Debt Securities of such series. 
 (f) The Company shall give notice of each resignation and each removal of the
Trustee with respect to the Senior Debt Securities of any series and each appointment of a successor Trustee with respect to the Senior Debt Securities of any series in the manner and to the extent provided in Section 1.06. Each notice shall
include the name of the successor Trustee with respect to the Senior Debt Securities of such series and the address of its Corporate Trust Office. 

Section 6.11 Acceptance of Appointment by Successor. (a) In case of the appointment hereunder of a successor Trustee with
respect to all Senior Debt 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, subject to the senior claim provided for in Section 6.07(e). 

(b) In case of the appointment hereunder of a successor Trustee with respect to the Senior Debt Securities of one or more (but
not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Senior Debt Securities of such series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such
appointment and which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the

  
 -41- 

 
Senior Debt Securities of such series to which the appointment of such successor Trustee relates, (ii) if the retiring Trustee is not retiring with respect to all Senior Debt 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 Senior Debt Securities of such series as to which the retiring Trustee is
not retiring shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions of this Senior Debt Securities 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 Senior Debt Securities of such
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 Senior Debt Securities of such series to which the appointment of such successor Trustee relates. 

(c) 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 paragraph (a) or (b) of this Section, as the case may be. 

(d) 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, 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 Senior Debt Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such
authenticating Trustee may adopt such authentication and deliver the Senior Debt Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Senior Debt Securities. 

Section 6.13 Preferential Collection of Claims. If and when the Trustee shall be or become a creditor of the Company (or any other
obligor upon the Senior Debt Securities of a series), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor). 

  
 -42- 

 Section 6.14 Appointment of Authenticating Agent. The Trustee may at any time appoint
an Authenticating Agent or Agents with respect to one or more series of Senior Debt Securities which shall be authorized to act on behalf of the Trustee to authenticate Senior Debt Securities of such series upon original issue, or issued upon
exchange, registration of transfer or partial redemption thereof or in lieu of destroyed, lost or stolen Senior Debt Securities, and Senior Debt Securities so authenticated shall be entitled to the benefits of this Senior Debt Securities Indenture
and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Senior Debt Securities Indenture to the authentication and delivery of Senior Debt 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 or national banking association 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 or District of Columbia
authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of
such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of
this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 
 Any
corporation or national banking association into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation or national banking association resulting from any merger, conversion or consolidation
to which such Authenticating Agent shall be a party, or any corporation or national banking association succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided
such corporation or national banking association shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 

An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time
terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall give notice to the Holders of Senior Debt Securities in
the manner and to the extent provided in Section 1.06. 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. 

  
 -43- 

 If an appointment with respect to one or more series is made pursuant to this Section, the Senior
Debt Securities of such series may have endorsed thereon, in lieu of the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form: 

CERTIFICATE OF AUTHENTICATION 

This is one of the Senior Debt Securities of the series designated herein referred to in the within-mentioned Senior Debt
Securities Indenture. 
 Dated:
                                         
        
  

			
	THE BANK OF NEW YORK MELLON,
		 	as Trustee
		
	By:	 	 
		 	as Authenticating Agent
		
	By:	 	 
		 	Authorized Signatory

 If all of the Senior Debt Securities of a series may not be originally issued at one time, and if the
Trustee does not have an office capable of authenticating Senior Debt Securities upon original issuance located in a Place of Payment where the Company wishes to have Senior Debt Securities of such series authenticated upon original issuance, the
Trustee, if so requested by the Company in writing (which writing need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel), shall appoint in accordance with this Section an Authenticating Agent having an office in
a Place of Payment designated by the Company with respect of such series of Senior Debt Securities. 
 ARTICLE 7 

HOLDERS LISTS AND REPORTS BY TRUSTEE
AND COMPANY 
 Section 7.01 Company to Furnish Trustee Names and Addresses of Holders. The
Company, with respect to any series of Senior Debt Securities in registered form, will furnish or cause to be furnished to the Trustee 

(a) not more than fifteen (15) days after each Regular Record Date (or after each of the dates to be specified for such
purpose for non-interest bearing Senior Debt Securities and Senior Debt Securities on which interest is paid less frequently than quarterly as contemplated by Section 3.01), a list, in such form as the Trustee may reasonably require, of the
names and addresses of the Holders of registered Senior Debt Securities as of such Regular Record Date or such specified date, and 

  
 -44- 

 (b) at such other times as the Trustee may request in writing, within thirty
(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 fifteen (15) days prior to the time such list is furnished. 

The Company need not furnish or cause to be furnished to the Trustee pursuant to this Section 7.01 the names and addresses of Holders of
registered Senior Debt Securities so long as the Trustee acts as Senior Debt Security Registrar with respect to such series of Senior Debt Securities. 

Section 7.02 Preservation of Information; Communications to Holders. (a) The Trustee shall preserve, in as current a form as
is reasonably practicable, the names and addresses of Holders (i) contained in the most recent list furnished to the Trustee as provided in Section 7.01 and (ii) received by the Trustee in its capacity as Paying Agent or Senior Debt
Security Registrar (if so acting). The Trustee may destroy any list furnished to it as provided in Section 7.01 upon receipt of a new list so furnished. 

(b) The rights of the Holders of Senior Debt Securities of any series to communicate with other Holders with respect to their
rights under this Senior Debt Securities Indenture or under the Senior Debt Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

(c) Every Holder, by receiving and holding a Senior Debt Security, agrees with the Company and the Trustee that neither the
Company nor the Trustee nor any agent of any of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders in accordance with Section 7.02(b). 

Section 7.03 Reports by Trustee. (a) So long as any Senior Debt Securities are Outstanding hereunder, the Trustee shall
transmit to Holders as provided in the Trust Indenture Act such reports dated as of such dates as are required by and in compliance with the Trust Indenture Act. Reports so required to be transmitted at stated intervals of not more than twelve
(12) months shall be transmitted on or before June 1 in each year following the date hereof. 
 (b) A copy of each
such report shall, at the time of such transmission to Holders, be filed by the Trustee with each securities exchange upon which the Trustee has been notified that the Senior Debt Securities are listed, with the Commission and with the Company. The
Company will notify the Trustee when Senior Debt Securities are listed on any securities exchange or are delisted therefrom. 

(c) The Company will furnish the Trustee with interim and annual reports. In addition, the Company will furnish the Trustee
with all notices of meetings at which Holders of Senior Debt Securities of a particular series are entitled to vote, and all other reports and communications that are made generally available to Holders of Senior Debt Securities. The Trustee will,
at the Company’s expense, make such notices, reports and communications available for inspection by Holders of Senior Debt Securities in such manner as the Company may determine and, in the case of any notice received by the Trustee in respect
of any meeting at which Holders of Senior Debt Securities of a 

  
 -45- 

 
particular series are entitled to vote, will deliver to all such record Holders of Senior Debt Securities, at the Company’s expense, a notice containing a summary prepared by the Company of
the information set forth in such notice of meeting. 
 Section 7.04 Reports by Company. The Company shall: 

(a) file with the Trustee, within fifteen (15) days after the Company is required to file the same with the Commission,
copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Company may be required to
file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such Sections, then it shall 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 which may be required pursuant to Section 13 of the Exchange Act
in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 

(b) file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the
Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants of this Senior Debt Securities Indenture as may be required from time to time by such rules and regulations;
and 
 (c) transmit to Holders, in the manner and to the extent required by the Trust Indenture Act, within thirty
(30) days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs (a) and (b) of this Section as may be required by rules and
regulations prescribed from time to time by the Commission. 
 Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustee’s receipt of such shall not constitute actual or constructive knowledge or notice of any information contained therein or determinable from information contained therein, including the Company’s
compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

ARTICLE 8 

CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER 

Section 8.01 Company May Consolidate, etc. Only on Certain Terms. The Company may, without the consent of Holders of any Senior
Debt Securities of any series Outstanding under this Senior Debt Securities Indenture, consolidate or amalgamate with or merge into any other Person or convey or transfer or lease its properties and assets substantially as an entirety to any Person,
provided that: 

  
 -46- 

 (a) the Person formed by such consolidation or amalgamation or into which the
Company is merged or the Person which acquires by conveyance or transfer or which leases the properties and assets of the Company substantially as an entirety shall expressly assume, by an indenture supplemental hereto, executed and delivered to the
Trustee, in form satisfactory to the Trustee, the obligations of the Company to duly and punctually pay the principal of (and premium, if any, on) and interest, if any, on all series of the Senior Debt Securities, if and to the extent due and
payable in accordance with the terms of such Senior Debt Securities, any Coupons appertaining thereto and this Senior Debt Securities Indenture and the performance or observance of every covenant of this Senior Debt Securities Indenture on the part
of the Company to be performed or observed; 
 (b) immediately after giving effect to such transaction and treating any
indebtedness which becomes an obligation of the Company or any Subsidiary thereof as a result of such transaction as having been incurred by the Company or such Subsidiary at the time of such transaction, no Event of Default and no event which,
after notice or lapse of time or both, would become an Event of Default shall have happened and be continuing; and 
 (c)
the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger, conveyance or transfer or lease and such supplemental indenture comply with this Article
and that all conditions precedent herein provided for relating to such transaction have been complied with. 
 Section 8.02
Successor Person Substituted. Upon any consolidation, amalgamation or merger or any conveyance or transfer or lease of the properties and assets of the Company substantially as an entirety in accordance with Section 8.01, the successor
Person formed by such consolidation or amalgamation or into which the Company is merged or the Person to which such conveyance or transfer is made shall succeed to and be substituted for, and may exercise every right and power of, the Company under
this Senior Debt Securities Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, the predecessor Person shall be relieved of all obligations and covenants under this Senior Debt Securities
Indenture, the Senior Debt Securities and the Coupons, if any. 
 Section 8.03 Assumption of Obligations. Subject to applicable
law and regulation, with respect to the Senior Debt Securities of any series, a wholly-owned Subsidiary of the Company (a “successor entity”) may without the consent of any Holder assume the obligations of the Company (or any Person which
shall have previously assumed the obligations of the Company) to duly and punctually pay the principal of (and premium, if any, on) and interest, if any, on any series of Senior Debt Securities if and to the extent due and payable in accordance with
the terms of such Senior Debt Securities, any Coupons appertaining thereto and this Senior Debt Securities Indenture and the performance of every covenant of this Senior Debt Securities Indenture and such series of Senior Debt Securities on the part
of the Company to be performed or observed, provided that: 

  
 -47- 

 (a) the successor entity shall expressly assume such obligations by an amendment
to the Senior Debt Securities Indenture, executed by the Company and such successor entity, if applicable, and delivered to the Trustee, in form satisfactory to the Trustee, and the Company shall, by amendment to the Senior Debt Securities
Indenture, irrevocably guarantee all of the obligations of such successor entity under the Senior Debt Securities of such series and the Senior Debt Securities Indenture as so modified by such amendment (provided, however, that, for
the purposes of the Company’s obligation to pay Additional Amounts, if any, payable pursuant to Section 10.04 in respect of the Senior Debt Securities and any related Coupons, references to such successor entity’s country of
organization will be added to references to the United Kingdom); 
 (b) such successor entity shall confirm in such
amendment to this Senior Debt Securities Indenture that such successor entity will pay all Additional Amounts, if any, payable pursuant to Section 10.04 in respect of all the Senior Debt Securities and any related Coupons (provided,
however, that for these purposes such successor entity’s country of organization will be substituted for the references to the United Kingdom); 

(c) immediately after giving effect to such assumption of obligations, 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; and 
 (d) the Company has
delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such assumption complies with this Article and that all conditions precedent herein provided for relating to such assumption have been complied with.

 Upon any such assumption, the successor entity shall succeed to, and be substituted for, and may exercise every right and power of, the
Company under this Senior Debt Securities Indenture with respect to any such Senior Debt Securities with the same effect as if such successor entity had been named as the Company in this Senior Debt Securities Indenture, and the Company or any legal
and valid successor corporation which shall theretofore have become such in the manner prescribed herein, shall be released from all liability as obligor upon any such Senior Debt Securities except as provided in clause (a) of this Section.

 In the event of any such assumption, any Additional Amounts, if any, payable pursuant to Section 10.04 will be payable in respect of
Taxes imposed by the jurisdiction in which the successor entity is organized (subject to exceptions equivalent to those that apply to any obligation to pay Additional Amounts in respect of Taxes imposed by any Taxing Jurisdiction) rather than Taxes
imposed by any Taxing Jurisdiction; provided, however, that if the Company makes payment under the guarantee, the Company shall be required to pay Additional Amounts related to Taxes (subject to the exceptions set forth in
Section 10.04) imposed by any Taxing Jurisdiction by reason of such payments. 

  
 -48- 

 ARTICLE 9 

SUPPLEMENTAL INDENTURES 

Section 9.01 Supplemental Indentures Without Consent of Holders. Without the consent of any Holders, the Company, when authorized
by a Board Resolution, 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 and the assumption by any such successor of the covenants of
the Company herein and in the Senior Debt Securities and Coupons, to the extent otherwise permitted under this Senior Debt Securities Indenture or any supplement hereto; or 

(b) to add to the covenants of the Company for the benefit of the Holders of all or any series of Senior Debt Securities (and,
if such covenants are to be for the benefit of less than all series of Senior Debt 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 
 (c) to add any additional Events of Default for the benefit of the Holders of all or any series of Senior
Debt Securities (and, if such additional Events of Default are to be for the benefit of less than all series of Senior Debt Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such
series); or 
 (d) subject to Section 9.02 hereof, to add to, change or eliminate any of the provisions of this Senior
Debt Securities Indenture or of any supplemental indenture, provided that any such addition, change or elimination (A) shall become effective only when there is no Senior Debt Security Outstanding of any series created prior to the
execution of such supplemental indenture effecting such addition, change or elimination which is entitled to the benefit of such provision or (B) shall not modify the rights of the Holder of any Senior Debt Security Outstanding prior to the
execution of such supplemental indenture; or 
 (e) to secure the Senior Debt Securities; or 

(f) to establish the form or terms of Senior Debt Securities of any series and any Coupons appertaining thereto as permitted
by Sections 2.01 and 3.01; or 
 (g) to change any Place of Payment, so long as the Place of Payment as required by
Section 3.01(j) is maintained; or 
 (h) to cure any ambiguity or to correct or supplement any provision herein which
may be defective or inconsistent with any other provision herein or in any supplemental indenture, provided that such action shall not adversely affect the interests of the Holders of Senior Debt Securities of any series in any material
respect; or 
 (i) to make any other provisions with respect to matters or questions arising under this Senior Debt
Securities Indenture, provided such action shall not adversely affect the interests of the Holders of Senior Debt Securities of any series in any material respect; or 

  
 -49- 

 (j) to evidence and provide for the acceptance of appointment hereunder by a
successor Trustee with respect to the Senior Debt Securities of one or more series and to add to or change any of the provisions of this Senior Debt Securities 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(b); or 
 (k) to change or
eliminate any provision of this Senior Debt Securities Indenture as permitted by Section 1.07. 
 Section 9.02 Supplemental
Indentures with Consent of Holders. With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Senior Debt Securities of each series affected by such supplemental Senior Debt Securities Indenture
(voting as a class), by Act of said Holders delivered to the Company and the Trustee, the Company, 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 Senior Debt Securities Indenture or of modifying in any manner the rights of the Holders of Senior Debt Securities of such series under this Senior Debt Securities
Indenture; provided, however, that no such supplemental indenture may, without the consent of the Holder of each Outstanding Senior Debt Security affected thereby, 

(a) change the Stated Maturity, if any, of any principal amount or any interest amounts in respect of any such Senior Debt
Security, or reduce the principal amount thereof, or the rate of interest, if any, thereon, or any premium payable upon the redemption thereof, or reduce the amount of principal of an Original Issue Discount Security that would be due and payable
upon an acceleration of the Maturity thereof pursuant to Section 5.02, or change the obligation of the Company (or its successor) to pay Additional Amounts pursuant to Section 10.04 (except as contemplated by Section 8.01(a) and
permitted by Section 9.01(a)) on the Senior Debt Securities, or change any Place of Payment where, or the currency in which the principal amount of, premium, if any, or interest on, any such Senior Debt Security 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 aggregate principal amount of the Outstanding Senior Debt 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 Senior Debt Securities Indenture or of certain defaults hereunder and their
consequences) provided for in this Senior Debt Securities Indenture; or 
 (c) change any obligation of the Company to
maintain an office or agency in the places and for the purposes specified in Section 10.02; or 
 (d) modify any of the
provisions of this Section 9.02 or Section 5.13 except to increase any such percentage or to provide that certain other provisions of this Senior Debt Securities Indenture cannot be modified or waived without the consent of the

  
 -50- 

 
Holder of each Outstanding Senior Debt 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, or the deletion of this proviso, in accordance with the requirements of Sections 6.11(b) and 9.01(j); or 

(e) change in any manner adverse to the interests of the Holders of any Senior Debt Securities the terms and conditions of the
obligations of the Company in respect of the due and punctual payment of any amounts due and payable on the Senior Debt Securities in accordance with their terms. 

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. 
 A supplemental indenture which changes or eliminates any covenant
or other provision of this Senior Debt Securities Indenture which has expressly been included solely for the benefit of one or more particular series of Senior Debt Securities, or which modifies the rights of the Holders of Senior Debt Securities of
such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Senior Debt Securities Indenture of the Holders of Senior Debt Securities of any other series. 

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 Senior Debt Securities Indenture, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully protected in relying upon,
an Officer’s Certificate and Opinion of Counsel in compliance with Section 1.02 hereof, stating that the execution of such supplemental indenture is authorized or permitted by this Senior Debt Securities Indenture. The Trustee may, but
shall not be obliged to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Senior Debt Securities Indenture or otherwise. 

Section 9.04 Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article, this Senior
Debt Securities Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Senior Debt Securities Indenture for all purposes; and every Holder of Senior Debt Securities theretofore or thereafter
authenticated and delivered hereunder and every holder of Coupons, if any, shall be bound thereby, except as otherwise expressed therein. 

Section 9.05 Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to this Article shall conform to
the requirements of the Trust Indenture Act as then in effect. 
 Section 9.06 Reference in Senior Debt Securities to Supplemental
Indentures. Senior Debt 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 prepared by the Company and
acceptable to the Trustee as to any matter provided for in such 

  
 -51- 

 
supplemental indenture. If the Company shall so determine, new Senior Debt 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 such Senior Debt Securities may be authenticated and delivered by the Trustee in exchange for Outstanding Senior Debt 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
Senior Debt Securities that it will (subject to Section 3.07) duly and punctually pay the principal of (and premium, if any) and interest, if any, on the Senior Debt Securities of that series if and to the extent due and payable in accordance
with the terms of the Senior Debt Securities, any Coupons appertaining thereto and this Senior Debt Securities Indenture. 

Section 10.02 Maintenance of Office or Agency. The Company will maintain in each Place of Payment for any series of Senior Debt
Securities an office or agency where Senior Debt Securities of that series and any Coupons appertaining thereto may be presented or surrendered for payment, where Senior Debt 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 Senior Debt Securities of that series and any Coupons appertaining thereto and this Senior Debt Securities Indenture may be served; provided, however,
that at the option of the Company in the case of registered Senior Debt Securities of such series, payment of any interest thereon may be made by check mailed to the address of the Person entitled herein as such address shall appear in the Senior
Debt Security Register, unless such person requests payment by wire transfer pursuant to Section 3.07. With respect to the Senior Debt Securities of any series, such office or agency in each Place of Payment shall be specified as contemplated
by Section 3.01, and if not so specified, initially shall be the Corporate Trust Office of the Trustee. Unless otherwise specified pursuant to Section 3.01, the Company will maintain in the Borough of Manhattan, The City of New York, an
office or agency where notices and demands to or upon the Company in respect of Senior Debt Securities of any series and any Coupons appertaining thereto and this Senior Debt Securities 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 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 presentations, surrenders, notices and demands. 

The Company may also from time to time designate one or more other offices or agencies (in or outside the Borough of Manhattan, The City of
New York) where the Senior Debt Securities of one or more series and any Coupons appertaining thereto 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 any obligation to maintain an office or agency in each Place of Payment (except as otherwise indicated in this Section) for Senior Debt Securities of any series and
any Coupons 

  
 -52- 

 
appertaining thereto 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 Payments to Be Held in Trust. If the Company shall at any time act as Paying Agent with
respect to the Senior Debt Securities of any series and any Coupons appertaining thereto, it will, on or before each due date for payment of the principal of (and premium, if any) or interest, if any, on any of the Senior Debt Securities of that
series, segregate and hold in trust for the benefit of the Persons entitled thereto in accordance with the provisions of this Senior Debt Securities Indenture a sum sufficient to pay the principal (and premium, if any) or interest, if any, 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 failure so to act. 

Whenever the Company shall have one or more Paying Agents for any series of Senior Debt Securities, it will, prior to each due date for
payment of the principal of (and premium, if any) or interest, if any, on any Senior Debt Securities of that series, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest, if any, so becoming due, such
sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest in accordance with the provisions of this Senior Debt Securities Indenture, and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of its action or its failure so to act. The Company will cause each Paying Agent for any series of Senior Debt 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 hold all sums held by it for the payment of the principal of (and premium, if any) or interest, if any, on Senior Debt Securities of that series in trust for the
benefit of the Persons entitled thereto in accordance with the provisions of this Senior Debt Securities Indenture until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 

(b) give the Trustee timely notice of any default by the Company (or any other obligor upon the Senior Debt Securities of that
series) in the making of any payment, when due and payable, or principal of (and premium, if any) or interest, if any, on Senior Debt Securities of that series; and 

(c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the
Trustee all sums so held in trust by such Paying Agent. 
 The Company may at the time, for the purpose of obtaining the satisfaction and
discharge of this Senior Debt Securities 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. 

  
 -53- 

 Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust
for the payment of the principal of (and premium, if any) or interest, if any, on any Senior Debt Security of any series and remaining unclaimed for two years after such principal (and premium, if any) or interest, if any, have 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 Senior Debt Security and the holder of any Coupon appertaining thereto 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 at least once, in Authorized Newspapers, published in the Borough of
Manhattan, The City of New York and London, England, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty (30) days from the date of such publication, any unclaimed balance of
such money then remaining will be paid to the Company. 
 Section 10.04 Additional Amounts. 

(a) Unless otherwise specified in any Board Resolution establishing the terms of Senior Debt Securities of a series in
accordance with Section 3.01, any amounts to be paid by the Company on any series of Senior Debt Securities shall be paid without deduction or withholding for, or on account of, any and all present or future income, stamp and other taxes,
levies, imposts, duties, charges, fees, deductions or withholdings (“Taxes”) now or hereafter imposed, levied, collected, withheld or assessed by or on behalf of the United Kingdom or any political subdivision or authority thereof or
therein having the power to tax (each a “Taxing Jurisdiction”), unless such deduction or withholding is required by law. If any such Taxes shall at any time be required by a Taxing Jurisdiction to be deducted or withheld, the Company shall
pay such additional amounts of, or in respect of, the principal of, premium, if any, and interest on, such series of Senior Debt Securities (“Additional Amounts”) as may be necessary in order that the net amounts paid to the Holders of
such series of Senior Debt Securities, after such deduction or withholding, shall equal the respective amounts of principal, premium, if any, and interest, if any, which would have been payable in respect of such series of Senior Debt Securities had
no such deduction or withholding been required, provided that the foregoing shall not apply to any such Taxes that would not have been payable or due but for the fact that (i) the Holder or the beneficial owner of the Senior Debt
Securities is a domiciliary, national or resident of, or engages in business or maintains a permanent establishment or is physically present in, the Taxing Jurisdiction requiring such deduction or withholding of Taxes, or otherwise has some
connection with such Taxing Jurisdiction other than the holding or ownership of the relevant Senior Debt Securities, or the collection of any payment of (or in respect of) principal or premium, if any, or any interest on, any Senior Debt Securities
of the relevant series, (ii) except in the case of a winding-up of the Company in England the relevant Senior Debt Securities are presented for payment in the United Kingdom, (iii) the relevant Senior Debt Securities are

  
 -54- 

 
presented for payment more than thirty (30) days after the date payment became due or was provided for, whichever is later, except to the extent that the Holder would have been entitled to
such Additional Amounts on presenting the same for payment at the close of such thirty day (30-day) period, (iv) the Holder or the beneficial owner of the relevant Senior Debt Securities or the beneficial owner of any payment of (or in respect
of) principal of, premium, if any, or any interest on such Senior Debt Securities failed to make any necessary claim or to comply with any certification, identification or other requirements concerning the nationality, residence, identity or
connection with the Taxing Jurisdiction of such Holder or beneficial owner, if such claim or compliance is required by statute, treaty, regulation or administrative practice of the Taxing Jurisdiction as a condition to relief or exemption from such
Taxes, (v) such Taxes are imposed on a payment to an individual and are required to be made pursuant to the European Union Directive on the taxation of savings income, adopted on June 3, 2003, or any law implementing or complying with, or
introduced in order to conform to, such Directive, (vi) the relevant Senior Debt Securities are presented for payment by or on behalf of a Holder who would have been able to avoid such Taxes by presenting the relevant Senior Debt Securities to
another Paying Agent in a member state of the European Union or elsewhere or (vii) if such Taxes would not have been so imposed, or would have been excluded pursuant to clauses (i) through (vii) above inclusive, if the beneficial
owner of, or person ultimately entitled to obtain an interest in, such Senior Debt Securities had been the Holder of such Senior Debt Securities. Whenever in this Senior Debt Securities Indenture there is mentioned, in any context, the payment of
the principal of (and premium, if any) or any interest, if any, on or in respect of any Senior Debt Security of any series, such mention shall be deemed to include mention of the payment of Additional Amounts provided for in this Section to the
extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section and as if express mention of the payment of Additional Amounts (if applicable) were made in any provisions
hereof where such express mention is not made. 
 (b) Any amounts to be paid by the Company or the Paying Agent on any
series of Senior Debt Securities shall be paid net of any deduction or withholding imposed or required pursuant to Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any agreement entered
into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code (or
any law implementing such an intergovernmental agreement) (a “FATCA Withholding Tax”), and the Company and the Paying Agent shall not be required to pay Additional Amounts on account of any FATCA Withholding Tax. 

(c) With respect to any series of Senior Debt Securities, any Paying Agent shall be entitled to make a deduction or
withholding from any payment which it makes under the Senior Debt Securities of such series and this Senior Debt Securities Indenture for or on account of (i) any present or future taxes, duties or charges if and to the extent so required by
any applicable law and (ii) any FATCA Withholding Tax (together, “Applicable Law”). In either case, the Paying Agent shall make any payment after a 

  
 -55- 

 
deduction or withholding has been made pursuant to Applicable Law and shall report to the relevant authorities the amount so deducted or withheld. However, such deduction or withholding will not
apply to payments made under the Senior Debt Securities of such series and this Senior Debt Securities Indenture through the relevant clearing systems. In all cases, the Paying Agent shall have no obligation to gross up any payment made subject to
any deduction or withholding pursuant to Applicable Law. In addition, amounts deducted or withheld by the Paying Agent under this Section 10.04(c) will be treated as paid to the Holder of a Senior Debt Security, and the Company will not pay
Additional Amounts in respect of such deduction or withholding, except to the extent the provisions in this Section 10.04 explicitly provide otherwise. 

Section 10.05 Corporate Existence. Subject to Article 8, the Company will do or cause to be done all things necessary to preserve
and keep in full force and effect its existence as a corporation or other legal entity. 
 Section 10.06 Statement as to
Compliance. The Company will deliver to the Trustee, within one hundred and twenty (120) days after the end of each fiscal year commencing with the fiscal year ending December 31, 2014, a certificate in compliance with
Section 314(a)(4) of the Trust Indenture Act. 
 ARTICLE 11 

REDEMPTION OF SENIOR DEBT SECURITIES 

Section 11.01 Applicability of Article. Senior Debt Securities of any series shall be redeemable in accordance with their terms
and (except as otherwise specified pursuant to Section 3.01 for Senior Debt Securities of any series) in accordance with this Article. 

Section 11.02 Election to Redeem; Notice to Trustee. The election of the Company to redeem any Senior Debt Securities shall be
evidenced by a Board Resolution or by a Delegated Person Resolution. The Company shall, at least thirty (30) days and no more than sixty (60) days prior to the Redemption Date fixed by the Company, notify the Holders of such Redemption
Date, of the principal amount of Senior Debt Securities of such series to be redeemed, and shall notify the Trustee of such election at least five (5) Business Days prior to the date on which the notice of redemption is sent to Holders (unless
a shorter notice period shall be satisfactory to the Trustee). In the case of any redemption of Senior Debt Securities of any series prior to the expiration of any restriction on such redemption provided in the terms of such Senior Debt Securities
or elsewhere in this Senior Debt Securities Indenture, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with or waiver of such restrictions. 

Section 11.03 Selection by Trustee of Senior Debt Securities to Be Redeemed. If less than all the Senior Debt Securities of any
series are to be redeemed, the particular Senior Debt Securities to be redeemed shall be selected not more than sixty (60) days nor less than thirty (30) days prior to the Redemption Date by the Trustee, from the Outstanding Senior Debt
Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate, subject to applicable Depositary procedures, and which may provide for the

  
 -56- 

 
selection for redemption of portions (equal to the minimum authorized denomination for registered Senior Debt Securities of that series or any multiple thereof) of the principal amount of Senior
Debt Securities of such series of a denomination larger than the minimum authorized denomination for Senior Debt Securities of that series. 

The Trustee shall promptly notify the Company in writing of the Senior Debt Securities selected for redemption and, in the case of any Senior
Debt Securities selected for partial redemption, the principal amount thereof to be redeemed. 
 For all purposes of this Senior Debt
Securities Indenture, unless the context otherwise requires, all provisions relating to the redemption of Senior Debt Securities shall relate in the case of any Senior Debt Securities redeemed or to be redeemed only in part, to the portion of the
principal amount of such registered Senior Debt Security which has been or is to be redeemed. 
 Section 11.04 Notice of
Redemption. Unless otherwise provided as contemplated by Section 3.01 with respect to any series of Senior Debt Securities, notice of redemption shall be given not less than thirty (30) nor more than sixty (60) days prior to the
Redemption Date to each Holder of Senior Debt Securities to be redeemed in the manner and to the extent provided in Section 1.06. 

All notices of redemption shall state: 

(a) the Redemption Date, 

(b) the Redemption Price, 

(c) if less than all the Outstanding Senior Debt Securities of any series are to be redeemed, the identification (and, in the
case of partial redemption, the principal amount) of the Senior Debt Securities to be redeemed, 
 (d) that, subject to any
conditions contained in the indenture supplemental hereto establishing the terms of the Senior Debt Securities to be redeemed, on the Redemption Date the Redemption Price will become due and payable upon each such Senior Debt Security to be redeemed
and, if applicable, that interest thereon will cease to accrue on or after the said date, 
 (e) the place or places where
such Senior Debt Securities are to be surrendered for payment of the Redemption Price, and 
 (f) the CUSIP number or
numbers, if any, with respect to such Senior Debt Securities. 
 Notice of redemption of Senior Debt Securities to be redeemed at the
selection of the Company shall be given by the Company or, at the Company’s Request and upon provision to the Trustee of such notice information, by the Trustee in the name and at the expense of the Company. 

  
 -57- 

 Section 11.05 Deposit of Redemption Price. On or prior to any Redemption Date, the
Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as 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 but unpaid interest, if any, on, all the Senior Debt Securities which are to be redeemed on that date. 

Section 11.06 Senior Debt Securities Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Senior
Debt Securities so to be redeemed shall, subject to any conditions contained in the indenture supplemental hereto establishing the terms of the Senior Debt Securities of such series, become due and payable at the Redemption Price therein specified
on the Redemption Date, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest, if any) such Senior Debt Securities shall cease to accrue interest. Upon surrender of any such Senior
Debt Security for redemption in accordance with said notice, such Senior Debt Security shall be paid by the Company at the Redemption Price, together with accrued but unpaid interest (if any) to the Redemption Date; provided, however,
that with respect to any Senior Debt Securities in registered form, unless otherwise specified as contemplated by Section 3.01, a payment of interest which is payable on an Interest Payment Date which is on or before the Redemption Date, shall
be payable to the Holders of such Senior Debt Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Regular or Special Record Date according to the terms of the Senior Debt Securities and the
provisions of Section 3.07. 
 If any Senior Debt 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 and after the Redemption Date in accordance with the terms of such Senior Debt Security and the provisions of Section 3.07. 

Section 11.07 Senior Debt Securities Redeemed in Part. Any Senior Debt Security which is to be redeemed only in part shall be
surrendered at a Place of Payment therefor (with, only in the case of Senior Debt Securities in registered form, 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 the Trustee shall authenticate and deliver to the Holder of such Senior Debt Security without service charge payable
by the Holder, a new Senior Debt Security or Senior Debt Securities of the same series 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 Senior Debt Security so surrendered. 
 Section 11.08 Optional Redemption. Except as otherwise provided in
Section 3.01, the Company may, at the Company’s option, redeem the relevant Senior Debt Securities, in whole but not in part, upon not less than thirty (30) days’ nor more than sixty (60) days’ prior notice to the
Holders (provided that the Company shall notify the Trustee at least five (5) Business Days prior to the date on which the notice of redemption is sent to Holders (unless a shorter notice period shall be satisfactory to the Trustee)), on the
date specified pursuant to Section 3.01 relating to such series at a redemption price equal to 100% of the principal amount of the Senior Debt Securities then Outstanding, together with any accrued but unpaid interest to (but excluding) such
date. 

  
 -58- 

 Section 11.09 Optional Tax Redemption. 

(a) Except as otherwise provided in Section 3.01, the Company may, at any time, at the Company’s option, redeem the Senior Debt
Securities, in whole but not in part, upon not less than thirty (30) days’ nor more than sixty (60) days’ prior notice to the Holders (provided that the Company shall notify the Trustee at least five (5) Business Days
prior to the date on which the notice of redemption is sent to Holders (unless a shorter notice period shall be satisfactory to the Trustee)), at a redemption price equal to 100% of the principal amount of the Senior Debt Securities then
Outstanding, together with any accrued but unpaid interest to (but excluding) the date fixed for redemption, if the Company determines that as a result of any change in, or amendment to, the laws or regulations of a Taxing Jurisdiction, including
any treaty to which the relevant Taxing Jurisdiction is a party, or a change in an official application or interpretation of those laws or regulations, including a decision of any court or tribunal, which becomes effective on or after the Issue Date
(and, in the case of a successor entity, which becomes effective on or after the date of that entity’s assumption of the Company’s obligations): 

(i) the Company would be required to pay Additional Amounts with respect to the relevant Senior Debt Securities; 

(ii) the Company would not be entitled to claim a deduction in respect of any payments in computing the Company’s
taxation liabilities or the amount of the deduction would be materially reduced; or 
 (iii) the Company would not, as a
result of the relevant Senior Debt Securities being in issue, be able to have the losses or deductions set against the profits or gains or profits or gains offset by the losses or deductions, of companies with which the Company is or would otherwise
be so grouped for applicable United Kingdom tax purposes (whether under the group relief system current as at the date of issuance of the such Senior Debt Securities or any similar system or systems having like effect as may from time to time
exist); 
 (each such change in tax law or regulation or the official application or interpretation thereof, a “Tax Event”); 

provided, however, that in the case of each Tax Event, the consequences of the Tax Event cannot be avoided by the Company taking reasonable
measures available to the Company. 
 (b) Prior to the delivery of any notice of redemption pursuant to this
Section 11.09, the Company shall deliver to the Trustee an opinion of independent counsel of recognized standing, chosen by the Company, confirming that the Company is entitled to exercise its right of redemption. 

(c) The notice provided to Holders in accordance with this Section 11.09 (which notice shall be irrevocable, except in
the circumstances provided in (d) below)) shall specify the date fixed for such redemption. 

  
 -59- 

 (d) Upon the expiry of the notice period described in (a) above, the Company
shall be bound to redeem the relevant Senior Debt Securities accordingly, provided that if the Company has delivered a notice of redemption pursuant to this Section 11.09, but prior to the payment of the redemption amount with respect to
such redemption the Relevant U.K. Resolution Authority exercises its U.K. Bail-in Power in respect of such Senior Debt Securities, such redemption notice shall be automatically rescinded and shall be of no force and effect, and no payment in respect
of the redemption amount shall be due and payable. 
 (e) Any successor entity that assumes the obligations of the Company
pursuant to Section 8.03 shall also be entitled to redeem the relevant Senior Debt Securities in accordance with this Section 11.09 with respect to any change or amendment to, or change in the application or interpretation of the laws or
regulations (including any treaty) of the successor entity’s jurisdiction of incorporation, which becomes effective on or after the date of that entity’s assumption of the Company’s obligations. 

ARTICLE 12 
 U.K.
BAIL-IN POWER 
 Section 12.01 U.K. Bail-in Power Acknowledgement. 

(a) By its acquisition of the Senior Debt Securities, each Holder and beneficial owner of the Senior Debt Securities
acknowledges, agrees to be bound by and consents to the exercise of any U.K. Bail-In Power by the Relevant U.K. Resolution Authority that may result in the cancellation of all, or a portion, of the principal amount of, or interest on, the Senior
Debt Securities and/or the conversion of all, or a portion of, the principal amount of, or interest on, the Senior Debt Securities into shares or other securities or other obligations of the Company or another person, including by means of a
variation to the terms of the Senior Debt Securities, in each case, to give effect to the exercise by the Relevant U.K. Resolution Authority of such U.K. Bail-In Power. Each Holder and beneficial owner further acknowledges and agrees that the rights
of Holders and beneficial owners of the Senior Debt Securities are subject to, and will be varied, if necessary, so as to give effect, in each case, to the exercise of any U.K. Bail-in Power by the Relevant U.K. Resolution Authority. 

(b) Each Holder and beneficial owner that acquires its Senior Debt Securities other than upon the initial issuance of such
securities shall be deemed to acknowledge and agree to be bound by and consent to the same provisions specified in the Senior Debt Securities and this Senior Debt Securities Indenture to the same extent as the Holders and beneficial owners of the
Senior Debt Securities that acquire the Senior Debt Securities upon their initial issuance, including, without limitation, with respect to the acknowledgement and agreement to be bound by and consent to the terms of the Senior Debt Securities,
including in relation to the U.K. Bail-In Power. 
 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. 

  
 -60- 

 IN WITNESS WHEREOF, the Company and the Trustee have caused this Senior Debt Securities Indenture
to be duly executed, all as of the day and year first above written. 
  

			
	BARCLAYS PLC,
		 	as Issuer
		
	By:	 	/s/ Tim Allen
		 	Name: Tim Allen
		 	Title: Director, Capital Markets Execution
	
	THE BANK OF NEW YORK MELLON,
		 	as Trustee
		
	By:	 	/s/ Beth Kleeh
		 	Name: Beth Kleeh
		 	Title: Vice President

  
 -61-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}]]