Document:

Restricted Share Agreement between Vail Resorts, Inc. and Jeffrey W. Jones

     

    VAIL
      RESORTS, INC.

    RESTRICTED
      SHARE AGREEMENT

     

    THIS
      AGREEMENT, effective as of September 30, 2005, between Vail Resorts, Inc. (the
      “Company”), a Delaware corporation, and Jeffrey W. Jones (the
“Employee”).

     

    WHEREAS,
      40,000 Restricted Shares (the “Award”) were granted to the Employee on September
      30, 2005 under the Company’s 2002 Long Term Incentive and Share Award Plan (the
“Plan”).

     

    NOW,
      THEREFORE, in consideration of the premises and mutual covenants contained
      herein, and for other good and valuable consideration, the parties hereto agree
      as follows.

     

    1.  Award
      of Shares.  The
      Award was granted on September 30, 2005 (the “Date of Grant”) pursuant to the
      Plan, the terms of which are incorporated herein by reference. Capitalized
      terms
      used herein and not defined shall have the meanings set forth in the Plan.
      The
      Award is subject to the terms and conditions of the Plan and those set forth
      herein. In the event of any conflict between this Agreement and the Plan, the
      Plan shall control.

     

    2.  Terms
      and Conditions.  It
      is understood and agreed that the Award of Restricted Shares evidenced hereby
      is
      subject to the following terms and conditions:

     

    (a)  Vesting
      of Award.
      Subject
      to Section 2(b) and 2(c) below and the other terms and conditions of this
      Agreement, this Award shall become vested in full on the third anniversary
      of
      the Date of Grant. Unless otherwise provided by the Committee, all dividends
      and
      other amounts receivable in connection with any adjustments to the Shares under
      Section 4(c) of the Plan shall be subject to the vesting schedule in this
      Agreement.

     

    (b)  Termination
      of Service; Forfeiture of Unvested Shares.
      In the
      event of a termination of the Employee’s employment with the Company and its
      Subsidiaries by the Company or a Subsidiary not for Cause (as defined in the
      Amended and Restated Employment Agreement dated as of September 29, 2004 by
      and
      between the Company and the Employee (the “Employment Agreement”)) or by the
      Employee for Good Reason (as defined in the Employment Agreement), a number
      of
      Restricted Shares subject to the Award will become vested at the time of such
      termination of employment determined by multiplying the number of the Restricted
      Shares subject to the Award by a fraction, the numerator of which is the number
      of completed years from the Date of Grant to the date of termination, and the
      denominator of which is three. In the event of a termination of the Employee’s
      employment with the Company and its Subsidiaries prior to the date the Award
      otherwise becomes vested other than as set forth in the preceding sentence
      or
      Section 2(c) below, the unvested portion of the Award shall immediately be
      forfeited by the Employee and become the property of the Company. 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        -2-

      

    

     

    (c)  Change
      in Control.
      Notwithstanding any provision of this Agreement to the contrary, in the event
      of
      a Change in Control (as defined in Annex A hereto), the Award, if not
      already vested under Section 2(a) or 2(b) above, will vest in full at the time
      of the Change in Control; provided,
      however,
      the
      vesting of this Award shall not accelerate pursuant to this Section 2(c) if
      (i) there is no Control Party (as defined below) with respect to the Company
      after the Change in Control and the Employee remains as chief financial officer
      of the Company, or (ii) there is a publicly traded Control Party with respect
      to
      the Company after the Change in COntrol and the Employee is the chief financial
      officer of such Control Party; provided further,
      however, if the Employee’s employment is terminated by the Company or such
      Control Party, as the case may be, not for Cause after a Change in Control,
      the Award shall immediately vest in full upon such termination.  "Control
      Party" is defined as a "person" or "group" (as such terms are used in Sections
      13(d) and 14(d) of the Exchange Act, but excluding any employee benefit plan
      of
      such person or its subsidiaries, and any person or entity acting in its capacity
      as trustee, agent, or other fiduciary or administrator of any such plan) that
      is
      the "beneficial owner" (as defined in Rules 13d-3 and 13d-5 under the Exchange
      Act) of more than 40% or more of the equity securities of the Company entitled
      to vote for members of the Board or equivalent governing body of the Company
      on
      a fully-diluted basis.

     

    (d)  Certificates.  Each
      certificate or other evidence of ownership issued in respect of Restricted
      Shares awarded hereunder shall be deposited with the Company, or its designee,
      together with, if requested by the Company, a stock power executed in blank
      by
      the Employee, and shall bear a legend disclosing the restrictions on
      transferability imposed on such Restricted Shares by this Agreement (the
“Restrictive Legend”). Upon the vesting of Restricted Shares hereunder and the
      satisfaction of any withholding tax liability pursuant to Section 5 hereof,
      the certificates evidencing such vested Shares, not bearing the Restrictive
      Legend, shall be delivered to the Employee or other evidence of vested Shares
      shall be provided to the Employee.

     

    (e)  Rights
      of a Stockholder.  Prior
      to the time a Restricted Share is fully vested hereunder, the Employee shall
      have no right to transfer, pledge, hypothecate or otherwise encumber such
      Restricted Share. During such period, the Employee shall have all other rights
      of a stockholder, including, but not limited to, the right to vote and to
      receive dividends (subject to Section 2(a) hereof) at the time paid on such
      Restricted Shares.

     

    (f)  No
      Right to Continued Employment.
      This
      Award shall not confer upon the Employee any right with respect to continuance
      of employment by the Company nor shall this Award interfere with the right
      of
      the Company to terminate the Employee’s employment at any time.

     

    3.  Transfer
      of Shares.
      The
      Shares delivered hereunder, or any interest therein, may be sold, assigned,
      pledged, hypothecated, encumbered, or transferred or disposed of in any other
      manner, in whole or in part, only in compliance with the terms, conditions
      and
      restrictions as set forth in the governing instruments of the Company,
      applicable federal and state securities laws or any other applicable laws or
      regulations and the terms and conditions hereof. 

     

    4.  Expenses
      of Issuance of Shares.
      The
      issuance of stock certificates hereunder shall be without charge to the
      Employee. The Company shall pay any issuance, stamp or documentary taxes (other
      than transfer taxes) or charges imposed by any governmental body, agency or
      official (other than income taxes) by reason of the issuance of
      Shares.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        -3-

      

    

     

    5.  Withholding.
      No
      later than the date of vesting of (or the date of an election by the Employee
      under Section 83(b) of the Code with respect to) the Award granted
      hereunder, the Employee shall pay to the Company or make arrangements
      satisfactory to the Committee regarding payment of any federal, state or local
      taxes of any kind required by law to be withheld at such time with respect
      to
      such Award and the Company shall, to the extent permitted or required by law,
      have the right to deduct from any payment of any kind otherwise due to the
      Employee, federal, state and local taxes of any kind required by law to be
      withheld at such time. The Employee may elect to have the Company withhold
      Shares to pay any applicable withholding taxes resulting from the Award, in
      accordance with any rules or regulations of the Committee then in
      effect.

     

    6.  References.  References
      herein to rights and obligations of the Employee shall apply, where appropriate,
      to the Employee’s legal representative or estate without regard to whether
      specific reference to such legal representative or estate is contained in a
      particular provision of this Agreement.

     

    7.  Notices.  Any
      notice required or permitted to be given under this Agreement shall be in
      writing and shall be deemed to have been given when delivered personally or
      by
      courier, or sent by certified or registered mail, postage prepaid, return
      receipt requested, duly addressed to the party concerned at the address
      indicated below or to such changed address as such party may subsequently by
      similar process give notice of:

     

    If
      to the
      Company:

     

       
      Vail Resorts, Inc.

       
      P.O. Box 7

       
      Vail, CO 81658

       
      Attention: General Counsel

    

     

    If
      to the
      Employee:

    

    At
      the
      Employee’s most recent address shown on the Company’s corporate records, or at
      any other address which the Employee may specify in a notice delivered to the
      Company in the manner set forth herein.

     

    8.  Governing
      Law.  This
      Agreement shall be governed by and construed in accordance with the laws of
      New
      York, without giving effect to principles of conflict of laws.

     

    9.  Counterparts.  This
      Agreement may be executed in two counterparts, each of which shall constitute
      one and the same instrument.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        -4-

      

    

     

    IN
      WITNESS WHEREOF, the undersigned have executed this Agreement as of the date
      first above written.

     

    VAIL
      RESORTS, INC.

     

    By:   
      /s/ Martha D. Rehm            

             
      Name:  
      Martha D. Rehm

             
      Title:     Executive Vice President &

                           
      General Counsel

             
      Date:  March 2, 2006

     

    
/s/
      Jeffrey W.
      Jones                        

    Employee

    Date: 
      March 2, 2006

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Annex
      A

     

    Definition
      of Change in Control

     

    For
      purposes of this Agreement, “Change in Control” shall mean an event or series of
      events by which:

     

    (a)  any
      “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
      Exchange Act, but excluding any employee benefit plan of such person or its
      subsidiaries, and any person or entity acting in its capacity as trustee, agent,
      or other fiduciary or administrator of any such plan) becomes the “beneficial
      owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or
      indirectly, of 40% or more of the equity securities of the Company entitled
      to
      vote for members of the Board or equivalent governing body of the Company on
      a
      fully-diluted basis; or

     

    (b)  during
      any period of twenty four (24) consecutive months, a majority of the members
      of
      the Board or other equivalent governing body of the Company cease to be composed
      of individuals (i) who were members of that Board or equivalent governing body
      on the first day of such period, (ii) whose election or nomination to that
      Board
      or equivalent governing body was approved by individuals referred to in clause
      (i) above constituting at the time of such election or nomination at least
      a
      majority of that Board or equivalent governing body, or (iii) whose election
      or
      nomination to that Board or other equivalent governing body was approved by
      individuals referred to in clauses (i) and (ii) above constituting at the time
      of such election or nomination at least a majority of that Board or equivalent
      governing body (excluding, in the case of both clause (ii) and clause (iii),
      any
      individual whose initial nomination for, or assumption of office as, a member
      of
      that Board or equivalent governing body occurs as a result of an actual or
      threatened solicitation of proxies or consents for the election or removal
      of
      one or more directors by any person or group other than a solicitation for
      the
      election of one or more directors by or on behalf of the Board); or

     

    (c)  any
      person or two or more persons acting in concert shall have acquired, by contract
      or otherwise, control over the equity securities of the Company entitled to
      vote
      for members of the Board or equivalent governing body of the Company on a
      fully-diluted basis (and taking into account all such securities that such
      person or group has the right to acquire pursuant to any option right)
      representing 51% or more of the combined voting power of such
      securities.QuickLinks
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Exhibit 4.3    
    

 
  FORMFACTOR, INC., as Issuer
  
  and
  
     •    , as Trustee
  
  INDENTURE
  
  Dated as
of    •       
    

                                        
                                          
    
 

 
 

Debt Securities    
    

  

 
 

TABLE OF CONTENTS    
    

	ARTICLE 1
 DEFINITIONS
	Section 1.01.	Certain Terms Defined	 	1
	

ARTICLE 2
 SECURITIES
	Section 2.01.	Forms Generally	 	7
	Section 2.02.	Form of Trustee's Certification of Authentication	 	7
	Section 2.03.	Amount Unlimited; Issuable in Series	 	7
	Section 2.04.	Authentication and Delivery of Securities	 	8
	Section 2.05.	Execution of Securities	 	9
	Section 2.06.	Certificate of Authentication	 	9
	Section 2.07.	Denomination and Date of Securities; Payments of Interest	 	9
	Section 2.08.	Registration, Transfer and Exchange	 	10
	Section 2.09.	Mutilated, Defaced, Destroyed, Lost and Stolen Securities	 	12
	Section 2.10.	Cancellation of Securities; Destruction Thereof	 	13
	Section 2.11.	Temporary Securities	 	13
	Section 2.12.	Computation of Interest	 	13
	Section 2.13.	CUSIP Numbers	 	13
	

ARTICLE 3
 COVENANTS OF THE ISSUER AND THE TRUSTEE
	Section 3.01.	Payment of Principal and Interest	 	14
	Section 3.02.	Offices for Payments, etc.	 	14
	Section 3.03.	Paying Agents	 	14
	Section 3.04.	Certificate of the Issuer	 	15
	Section 3.05.	List of Securityholders	 	15
	Section 3.06.	Reports by the Issuer	 	16
	Section 3.07.	Corporate Existence	 	16
	Section 3.08.	Restrictions on Mergers, Sales and Consolidations	 	16
	Section 3.09.	Further Assurances	 	16
	

ARTICLE 4
 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
	Section 4.01.	Event of Default Defined; Acceleration of Maturity; Waiver of Default	 	16
	Section 4.02.	Collection of Indebtedness by Trustee; Trustee May Prove Debt	 	18
	Section 4.03.	Application of Proceeds	 	20
	Section 4.04.	Suits for Enforcement	 	20
	Section 4.05.	Restoration of Rights on Abandonment of Proceedings	 	20
	Section 4.06.	Limitations on Suits by Securityholder	 	21
	Section 4.07.	Unconditional Right of Securityholders to Institute Certain Suits	 	21
	Section 4.08.	Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default	 	21
	Section 4.09.	Control by Securityholders	 	21
	Section 4.10.	Waiver of Past Defaults	 	22
	Section 4.11.	Trustee to Give Notice of Default, But May Withhold in Certain Circumstances	 	22
	Section 4.12.	Right of Court to Require Filing of Undertaking to Pay Costs	 	22
	

ARTICLE 5
 CONCERNING THE TRUSTEE
	Section 5.01.	Duties and Responsibilities of the Trustee	 	23
	Section 5.02.	Certain Rights of the Trustee	 	24
	Section 5.03.	Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof	 	25
	Section 5.04.	Trustee and Agents May Hold Securities; Collections, etc.	 	25
	Section 5.05.	Monies Held by Trustee	 	25
	 	 	 	 

i

 

	Section 5.06.	Compensation and Indemnification of Trustee and Its Prior Claim	 	25
	Section 5.07.	Right of Trustee to Rely on Officers' Certificate, etc.	 	26
	Section 5.08.	Persons Eligible for Appointment as Trustee	 	26
	Section 5.09.	Resignation and Removal; Appointment of Successor Trustee	 	26
	Section 5.10.	Acceptance of Appointment by Successor	 	27
	Section 5.11.	Merger, Conversion, Consolidation or Succession to Business of Trustee	 	28
	Section 5.12.	Reports to the Trustee	 	28
	

ARTICLE 6
 CONCERNING THE SECURITYHOLDERS
	Section 6.01.	Evidence of Action Taken by Securityholders	 	28
	Section 6.02.	Proof of Execution of Instruments and of Holding of Securities; Record Date	 	28
	Section 6.03.	Holders to be Treated as Owners	 	29
	Section 6.04.	Securities Owned by Issuer Deemed Not Outstanding	 	29
	Section 6.05.	Right of Revocation of Action Taken	 	29
	

ARTICLE 7
 SUPPLEMENTAL INDENTURES
	Section 7.01.	Supplemental Indentures Without Consent of Securityholders	 	30
	Section 7.02.	Supplemental Indentures With Consent of Securityholders	 	31
	Section 7.03.	Effect of Supplemental Indenture	 	32
	Section 7.04.	Documents to Be Given to Trustee	 	32
	Section 7.05.	Notation on Securities in Respect of Supplemental Indentures	 	32
	

ARTICLE 8
 CONSOLIDATION, MERGER, SALE OR CONVEYANCE
	Section 8.01.	Issuer May Consolidate, etc., on Certain Terms	 	32
	Section 8.02.	Successor Corporation Substituted	 	33
	

ARTICLE 9
 DISCHARGE OF INDENTURE
	Section 9.01.	Defeasance Within One Year of Payment	 	33
	Section 9.02.	Defeasance	 	34
	Section 9.03.	Covenant Defeasance	 	35
	Section 9.04.	Application of Trust Money	 	35
	Section 9.05.	Repayment to Issuer	 	36
	

ARTICLE 10
 MISCELLANEOUS PROVISIONS
	Section 10.01.	Incorporators, Stockholders, Officers and Directors Exempt from Individual Liability	 	36
	Section 10.02.	Provisions of Indenture for the Sole Benefit of Parties and Securityholders	 	36
	Section 10.03.	Successors and Assigns of Issuer Bound by Indenture	 	36
	Section 10.04.	Notices and Demands on Issuer, Trustee and Securityholders	 	36
	Section 10.05.	Officers' Certificates and Opinions of Counsel; Statements to be Contained Therein	 	37
	Section 10.06.	Payments Due on Saturdays, Sundays and Holidays	 	38
	Section 10.07.	Conflict of Any Provision of Indenture with Trust Indenture Act of 1939	 	38
	Section 10.08.	New York Law to Govern	 	38
	Section 10.09.	Counterparts	 	38
	Section 10.10.	Effect of Headings	 	38
	

ARTICLE 11
 REDEMPTION OF SECURITIES
	Section 11.01.	Applicability of Article	 	38
	Section 11.02.	Notice of Redemption; Partial Redemptions	 	38
	Section 11.03.	Payment of Securities Called for Redemption	 	39
	Section 11.04.	Exclusion of Certain Securities from Eligibility for Selection for Redemption	 	40
	Section 11.05.	Conversion Arrangement On Call For Redemption	 	40
	 	 	 	 

ii

 

	

ARTICLE 12
 CONVERSION OF SECURITIES
	Section 12.01.	Applicability of Article	 	41
	Section 12.02.	Right of Securityholders to Convert Securities	 	41
	Section 12.03.	Issuance of Shares of Capital Stock on Conversion	 	41
	Section 12.04.	No Payment or Adjustment for Interest or Dividends	 	42
	Section 12.05.	Adjustment of Conversion Rate	 	42
	Section 12.06.	No Fractional Shares to Be Issued	 	45
	Section 12.07.	Preservation of Conversion Rights Upon Consolidation, Merger, Sale or Conveyance	 	46
	Section 12.08.	Notice to Security Holders of a Series Prior to Taking Certain Types of Action	 	46
	Section 12.09.	Covenant to Reserve Shares for Issuance on Conversion of Securities	 	47
	Section 12.10.	Compliance with Governmental Requirements	 	47
	Section 12.11.	Payment of Taxes Upon Certificates for Shares Issued Upon Conversion	 	47
	Section 12.12.	Trustee's Duties with Respect to Conversion Provisions	 	47

iii

        THIS INDENTURE, dated as of    •    , between FORMFACTOR, INC., a Delaware corporation (the
"Issuer") and    •    , a    •    corporation, as trustee (the
"Trustee"). 

W I T N E S S E T H:

        WHEREAS,
the Issuer has duly authorized the issue from time to time of its unsecured debentures, notes or other evidences of indebtedness to be issued in one or more series (the
"Securities") up to such principal amount or amounts as may from time to time be authorized in accordance with the terms of this Indenture and to
provide, among other things, for the authentication, delivery and administration thereof, the Issuer has duly authorized the execution and delivery of this Indenture; and 

        WHEREAS,
all things necessary to make this Indenture a valid indenture and agreement according to its terms have been done; 

        NOW,
THEREFORE: 

        In
consideration of the premises and the purchases of the Securities by the Holders thereof, the Issuer and the Trustee mutually covenant and agree for the equal and proportionate
benefit of the respective Holders from time to time of the Securities as follows: 

 
 

ARTICLE 1
  DEFINITIONS

        Section 1.01.    Certain Terms Defined.    The following terms (except as otherwise expressly provided or
unless the context otherwise clearly requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section. All other terms
used in this Indenture that are defined in the Trust Indenture Act of 1939 or the definitions of which in the Securities Act of 1933 are referred to in the Trust Indenture Act of 1939, as amended,
including terms defined therein by reference to the Securities Act of 1933, as amended, (except as herein otherwise expressly provided or unless the context otherwise clearly requires), shall have the
meanings assigned to
such terms in said Trust Indenture Act and in said Securities Act as in force at the date of this Indenture. All accounting terms used herein and not expressly defined shall have the meanings assigned
to such terms in accordance with GAAP. The words "herein", "hereof" and "hereunder" and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or
other subdivision. The terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular. 

        "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. 

        "Authorized Newspaper" means a newspaper in the English language or in an official language of the country of publication, customarily
printed on each Business Day, whether or not published on Saturdays, Sundays or holidays, and of general circulation in the place in connection with which the term is used or in the financial
community of such place. If, because of temporary suspension of publication or general circulation of any newspaper or for any other reason, it is impossible or impracticable to make any publication
of any notice required by this Indenture in the manner herein provided, such publication or other notice in lieu thereof which is made at the written direction of the Issuer by the Trustee shall
constitute a sufficient publication of such notice. 

        "Board of Directors" means either the Board of Directors of the Issuer or any committee of such Board duly authorized to act hereunder. 

 

        "Business Day" means, with respect to any Security, a day that in the city (or in all of the cities, if more than one) in which amounts
are payable, as specified in the form of such Security, is not a day on which banking institutions are authorized by law or regulation to close. 

        "Capitalized Lease" means, as applied to any Person, any lease of any property (whether real, personal, or mixed) of which the discounted
present value of the rental obligations of such Person as lessee, in conformity with GAAP, is required to be capitalized on the balance sheet of such Person; and
"Capitalized Lease Obligation" is defined to mean the rental obligations, as aforesaid, under such lease. 

        "Capital Stock" means any and all shares, interests, participations or other equivalents (however designated, whether voting or
non-voting) of the Issuer's capital stock or other ownership interests, whether now outstanding or issued after the date of this Indenture, including, without limitation, all Common Stock
and Preferred Stock. 

        "Closing Price" on any day when used with respect to any class of Capital Stock means the closing sale price per share (or if no closing
sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that date as reported by The Nasdaq
National Market or, if such Capital Stock is not listed on The Nasdaq National Market, then on the principal U.S. national or regional securities exchange on which such Capital Stock is then listed.
If such Capital Stock is not listed on either The Nasdaq National Market or on any U.S. national or regional securities exchange on the relevant date, the Closing Price will be the last quoted bid
price for the Company's Common Stock in the over-the-counter market on the relevant date as reported by the National Quotation Bureau Incorporated or similar organization. In
the event that no such quotation is available for any day, the Board of Directors shall be entitled to determine in good faith the current market price on the basis of such quotations as it considers
appropriate. 

        "Commission" means the Securities and Exchange Commission, as from time to time constituted, created under the Securities Exchange Act of
1934, or if at any time after the execution and delivery of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body
performing such duties on such date. 

        "Common Stock" means any and all shares, interests, participations or other equivalents (however designated, whether voting or
non-voting) of the Issuer's common stock, par value $0.001 per share, whether now outstanding or issued after the date of the Indenture, including, without limitation, all series and
classes of such common stock. 

        "Corporate Trust Office" means the office of the Trustee at which the corporate trust business of the Trustee shall, at any particular
time, be principally administered, which office is, at the date as of which this Indenture is dated, located at    •    . 

        "Currency Agreement" means any foreign exchange contract, currency swap agreement, or other similar agreement or arrangement designed to
protect against the fluctuation in currency values. 

        "Default" means any Event of Default as defined in Section 4.01 and any event that is, or after notice or passage of time or both
would be, an Event of Default. 

        "Depositary" means, with respect to the Securities of any series issuable or issued in the form of one or more Registered Global
Securities, the Person designated as Depositary by the Issuer pursuant to Section 2.03 until a successor Depositary shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter "Depositary" shall mean or include each Person who is then a Depositary hereunder, and if at any time there is more than one such Person, "Depositary" as used with respect to
the Securities of any such series shall mean the Depositary with respect to the Registered Global Securities of that series. 

2

 

        "Determination Date" has the meaning specified in Section 12.05. 

        "Event of Default" has the meaning specified in Section 4.01. 

        "GAAP" means generally accepted accounting principles in the United States of America as in effect as of the date of determination,
including, without limitation, those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and
pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as approved by a significant segment of the accounting profession. All ratios and
computations contained in this Indenture shall be computed in conformity with GAAP applied on a consistent basis. 

        "Guarantee" means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness or other
obligation of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person: 

        (i)    to
purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation of such other Person (whether arising by virtue of
partnership arrangements, or by agreement to keep-well, to purchase assets, goods, securities, or services, to take-or-pay, or to maintain financial statement
conditions or otherwise); or 

        (ii)   entered
into for purposes of assuring in any other manner the obligee of such Indebtedness or other obligation of the payment thereof or to protect such obligee against
loss in respect thereof (in whole or in part); 

provided, that the term "Guarantee" shall not include endorsements for collection or deposit in the ordinary course of business. The term "Guarantee"
used as a verb has a corresponding meaning. 

        "Holder", "Securityholder" or other similar terms mean the registered holder of any
Security. 

        "Indebtedness" means, with respect to any Person at any date of determination (without duplication): 

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

        (ii)   all
obligations of such Person evidenced by bonds, debentures, notes, or other similar instruments, in each case, for value received or settlement of claims; 

        (iii)  all
obligations of such Person in respect of letters of credit or other similar instruments (including reimbursement obligations with respect thereto); 

        (iv)  all
obligations of such Person to pay the deferred and unpaid purchase price of property or services (but excluding trade accounts payable or accrued liabilities
arising in the ordinary course of business); 

        (v)   all
obligations of such Person as lessee under Capitalized Leases; 

        (vi)  all
Indebtedness of other Persons secured by a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person;  provided that the amount of such Indebtedness shall be the lesser
of: 

        (1)   the
fair market value of such asset at such date of determination; and 

        (2)   the
amount of such Indebtedness; 

        (vii) all
Indebtedness of other Persons to the extent Guaranteed by such Person; and 

        (viii) to
the extent not otherwise included in this definition, obligations under Currency Agreements and Interest Rate Agreements. 

3

 

        Notwithstanding
the foregoing, in no event shall the term "Indebtedness" be deemed to include letters of credit or bonds that secure performance or surety bonds or similar instruments
that are issued in the ordinary course of business. 

        The
amount of Indebtedness of any Person at any date shall be the outstanding balance at such date of all unconditional obligations as described above and, with respect to contingent
obligations, the maximum liability upon the occurrence of the contingency giving rise to the obligation; provided that: 

        (x)   the
amount outstanding at any time of any Indebtedness issued with original issue discount is the face amount of such Indebtedness less the remaining unamortized portion
of the original issue discount of such Indebtedness at such time as determined in conformity with GAAP; and 

        (y)   Indebtedness
shall not include any liability for federal, state, local, or other taxes. 

        "Indenture" means this instrument as originally executed and delivered or, if amended or supplemented as herein provided, as so amended or
supplemented or both, and shall include the forms and terms of particular series of Securities established as contemplated hereunder. 

        "Interest" means, when used with respect to non-interest bearing Securities, interest payable after maturity. 

        "Interest Rate Agreement" means any obligation of any Person pursuant to any interest rate swap, cap, collar or similar arrangement
providing protection against fluctuations in interest rates. For purposes of the Indenture, the amount of such obligation shall be the amount determined in respect thereof as of the end of the then
most recently ended fiscal quarter of such Person, based on the assumption that such obligation had terminated at the end of such fiscal quarter, and in making such determination, if any agreement
relating to such obligation provides for the netting of amounts payable by and to such Person thereunder or if any such agreement provides for the simultaneous payment of amounts by and to such
Person, then in each such case, the amount of such obligation shall be the net amount so determined, plus any premium due upon default by such Person. 

        "Issuer" means the Person identified as "Issuer" in the first paragraph hereof and, subject to Article 8, its successors and
assigns. 

        "Lien" means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind, or any other
type of preferential arrangement that has the practical effect of creating a security interest, in respect of such asset. For the purposes of this Indenture, the Issuer shall be deemed to own subject
to a Lien any asset that it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to such
asset. 

        "Officers' Certificate" means a certificate signed by the chairman of the Issuer's Board of Directors, its president or any vice
president, and by its treasurer, any assistant treasurer, its secretary or any assistant secretary of the Issuer, and delivered to the Trustee. Each such certificate shall comply with
Section 314 of the Trust Indenture Act of 1939 and include the statements provided for in Section 10.05. 

        "Opinion of Counsel" means an opinion in writing signed by legal counsel who may be an employee of or counsel to the Issuer and who shall
be satisfactory to the Trustee. Each such opinion shall comply with Section 314 of the Trust Indenture Act of 1939 and include the statements provided for in Section 10.05, if and to the
extent required hereby. 

        "Original Issue Date" of any Security (or portion thereof) means the earlier of (i) the date of such Security or (ii) the
date of any Security (or portion thereof) for which such Security was issued (directly or indirectly) on registration of transfer, exchange or substitution. 

4

 

        "Original Issue Discount Security" means any Security that provides for an amount less than the Principal amount thereof to be due and
payable upon a declaration of acceleration of the maturity thereof pursuant to Section 4.01. 

        "Outstanding", when used with reference to Securities, shall, subject to the provisions of Section 6.04, mean, as of any particular
time, all Securities authenticated and delivered by the Trustee under this Indenture, except: 

        (i)    Securities
theretofore canceled by the Trustee or delivered to the Trustee for cancellation; 

        (ii)   Securities,
or portions thereof, for the payment or redemption of which monies in the necessary amount shall have been deposited in trust with the Trustee or with any
paying agent (other than the Issuer) or shall have been set aside, segregated and held in trust by the Issuer for the Holders of such Securities (if the Issuer shall act as its own paying agent),  provided that if such Securities, or portions thereof, are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given
as herein provided, or provision satisfactory to the Trustee shall have been made for giving such notice; and 

        (iii)  Securities
in substitution for which other Securities shall have been authenticated and delivered, or which shall have been paid, pursuant to the terms of
Section 2.09 (except with respect to any such Security as to which proof satisfactory to the Trustee is presented that such Security is held by a person in whose hands such Security is a legal,
valid and binding obligation of the Issuer). 

        In
determining whether the Holders of the requisite Principal amount of Outstanding Securities of any or all series have given any request, demand, authorization, direction, notice,
consent or waiver hereunder, the Principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding for such purposes shall be the amount of the Principal thereof that
would be due and payable as of the date of such determination upon a declaration of acceleration of the maturity thereof pursuant to Section 4.01. 

        "Person" means any individual, corporation, partnership, limited liability company, joint venture, association, joint stock company,
trust, unincorporated organization or government or any agency or political subdivision thereof or any other entity. 

        "Preferred Stock" means any and all shares, interests, participations or other equivalents (however designated, whether voting or
non-voting) of the Issuer's preferred stock, par value $0.001 per share, whether now outstanding or issued after the date of the Indenture, including, without limitation, all series and
classes of such preferred stock. 

        "Principal" means, with respect to the Securities or any Security or any portion thereof, the principal amount of such Securities,
Security or portion thereof, and shall be deemed to include "and premium, if any". 

        "record date" as used with respect to any interest payment date (except a date for payment of defaulted interest), has the meaning
specified in Section 2.07. 

        "Registered Global Security" means a Security evidencing all or a part of a series of Registered Securities, issued to the Depositary for
such series in accordance with Section 2.04, and bearing the legend prescribed in Section 2.04. 

        "Registered Security" means any Security registered on the register maintained by the Issuer pursuant to Section 2.08. 

        "Responsible Officer" when used with respect to the Trustee means any officer within the corporate trust department of the Trustee,
including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those
performed by the Persons who at the time shall be such officers, 

5

 

respectively,
or to whom any corporate trust matter is referred because of such person's knowledge of and familiarity with the particular subject and who shall have direct responsibility for the
administration of this Indenture. 

        "Security" or "Securities" has the meaning stated in the first recital of this Indenture,
or, as the case may be, Securities that have been authenticated and delivered under this Indenture. 

        "Subsidiary" means, with respect to any Person, any corporation, association or other business entity of which more than 50% of all votes
represented by all classes of outstanding Voting Stock is owned, directly or indirectly, by such Person and one or more other Subsidiaries of such Person. 

        "Trustee" means the Person identified as "Trustee" in the first paragraph hereof and, subject to the provisions of Article 5, shall
also include any successor trustee. 

        "Trust Indenture Act of 1939" (except as otherwise provided in Sections 7.01 and 7.02) means the Trust Indenture Act of 1939 as in
force at the date as of which this Indenture was originally executed. 

        "UCC" means the Uniform Commercial Code, as in effect in each applicable jurisdiction. 

        "Unregistered Security" means any Security other than a Registered Security. 

        "U.S. Government Obligations" means securities that are (i) direct obligations of the United States of America for the payment of
which its full faith and credit is pledged or (ii) obligations of an agency of instrumentality of the United States of America the payment of which is unconditionally guaranteed as
a full faith and credit obligation by the United States of America, and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such U.S. Government
Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt;  provided that (except as
required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such
depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of interest on or principal of the U.S. Government Obligation
evidenced by such depository receipt. 

        "Voting Stock" means, with respect to any Person, capital stock of any class or kind ordinarily having the power to vote for the election
of directors, managers or other voting members of the governing body of such Person. 

        "vice president" when used with respect to the Issuer or the Trustee, means any vice president, whether or not designated by a number or a
word or words added before or after the title of "vice president". 

        "Wholly-Owned" is defined to mean, with respect to any Subsidiary of any Person, such Subsidiary if all of the outstanding common stock or
other similar equity ownership interests (but not including preferred stock) in such Subsidiary (other than any director's qualifying shares or investments by foreign nationals mandated by applicable
law) is owned directly or indirectly by such Person. 

        "Yield to Maturity" means the yield to maturity on a series of securities, calculated at the time of issuance of such series, or, if
applicable, at the most recent redetermination of interest on such series, and calculated in accordance with accepted financial practice. 

6

  

 
 

ARTICLE 2
  SECURITIES

        Section 2.01.    Forms Generally.    The Securities of each series shall be substantially in such form (not
inconsistent with this Indenture) as shall be established by or pursuant to a resolution of the Board of Directors or in one or more indentures supplemental hereto, in each case with such appropriate
insertions, omissions, substitutions and other variations as are required or permitted by this Indenture and may have imprinted or otherwise reproduced thereon such legend or legends, not inconsistent
with the provisions of this Indenture, as may be required to comply with any law or with any rules or regulations pursuant thereto, or with any rules of any securities exchange or to conform to
general usage, all as may be determined by the officers executing such Securities, as evidenced by their execution of the Securities. The Issuer shall furnish any such legends to the Trustee in
writing. 

        The
definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such
Securities, as evidenced by their execution of such Securities. 

        Section 2.02.    Form of Trustee's Certification of Authentication.    The Trustee's certificate of
authentication on all Securities shall be in substantially the following form: 

        This
is one of the Securities of the series designated herein and referred to in the within-mentioned Indenture. 

	 	 	•,

    as Trustee
	

 	
 	

By:	

    
 Authorized Signatory

        Section 2.03.    Amount Unlimited; Issuable in Series.    The aggregate Principal amount of Securities which
may be authenticated and delivered under this Indenture is unlimited. 

        The
Securities may be issued in one or more series. There shall be established in or pursuant to a resolution of the Board of Directors and set forth in an Officers' Certificate, or
established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 

        (a)   the
title of the Securities of the series (which shall distinguish the Securities of the series from all other Securities); 

        (b)   any
limit upon the aggregate Principal amount of the Securities of the series that may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 2.08, 2.09, 2.11 or Section 12.03); 

        (c)   the
date or dates on which the Principal of the Securities of the series is payable; 

        (d)   the
rate or rates at which the Securities of the series shall bear interest, if any, or the method by which such rate shall be determined, the date or dates from which
such interest shall accrue, the interest payment dates on which such interest shall be payable and the record dates for the determination of Holders to whom interest is payable; 

        (e)   the
place or places where the Principal of and any interest on Securities of the series shall be payable (if other than as provided in Section 3.02); 

        (f)    the
price or prices at which, the period or periods within which and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part,
at the option of the Issuer; 

7

 

        (g)   the
obligation, if any, of the Issuer to redeem, purchase or repay Securities of the series at the option of a Holder thereof and the price or prices at which, the
period or periods within which and the terms and conditions upon which Securities of the series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation; 

        (h)   the
obligation, if any, of the Issuer to permit the conversion of the Securities of such series into Capital Stock, and the terms and conditions upon which such
conversion shall be effected (including, without limitation, the initial conversion price or rate, the conversion period and any other provision in addition to or in lieu of those set forth in this
Indenture relative to such obligation); 

        (i)    if
other than denominations of $1,000 and any multiple thereof, the denominations in which Securities of the series shall be issuable; 

        (j)    if
other than the Principal amount thereof, the portion of the Principal amount of Securities of the series which shall be payable upon declaration of acceleration of
the maturity thereof pursuant to Section 4.01 or provable in bankruptcy pursuant to Section 4.02; 

        (k)   if
the Securities of the series are issuable in whole or in part as one or more Registered Global Securities, the identity of the Depositary for such Registered Global
Security or Securities; 

        (l)    any
other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture); and 

        (m)  any
trustees, authenticating or paying agents, transfer agents or registrar or any other agents with respect to the Securities of such series. 

        All
Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to such resolution of the Board of
Directors or in any such indenture supplemental hereto. 

        Section 2.04.    Authentication and Delivery of Securities.    At any time and from time to time after the
execution and delivery of this Indenture, the Issuer may deliver Securities of any series executed by the Issuer to the Trustee for authentication, and the Trustee shall thereupon authenticate and
deliver such Securities to or upon the written order of the Issuer, such order to be signed by both (a) the chairman of its Board of Directors, its president or any vice president and
(b) by its treasurer, any assistant treasurer, its secretary or any assistant secretary, without any further action by the Issuer. In authenticating such Securities and accepting the additional
responsibilities under this Indenture in relation to such Securities the Trustee shall receive, and (subject to Section 5.01) shall be fully protected in relying upon: 

        (a)   a
certified copy of any resolution or resolutions of the Board of Directors authorizing the action taken pursuant to the resolution or resolutions delivered under clause
Section 2.04(b) below; 

        (b)   a
copy of any resolution or resolutions of the Board of Directors relating to such series, in each case certified by the secretary or an assistant secretary of the
Issuer; 

        (c)   an
executed supplemental indenture, if any, and the documentation required to be delivered pursuant to Section 7.04; 

        (d)   an
Officers' Certificate setting forth the form and terms of the Securities as required pursuant to Section 2.01 and 2.03, respectively and prepared in accordance
with Section 10.05; 

        (e)   an
Opinion of Counsel, prepared in accordance with Section 10.05, to the effect: 

          (i)  that
the form or forms and terms of such Securities have been established by or pursuant to a resolution of the Board of Directors or by a supplemental indenture as
permitted by Section 2.01 and 2.03 in conformity with the provisions of this Indenture; and 

8

 

         (ii)  that
such Securities, when authenticated and delivered by the Trustee and issued by the Issuer in the manner and subject to any conditions specified in such Opinion of
Counsel, will constitute legal, valid and binding obligations of the Issuer enforceable against the Issuer in accordance with their terms. 

        The
Trustee shall have the right to decline to authenticate and deliver any Securities under this section if the Trustee, being advised by counsel, determines that such action may not
lawfully be taken by the Issuer or if the Trustee in good faith by its board of directors or board of trustees, executive committee, or a trust committee of directors or trustees or Responsible
Officers shall determine that such action would expose the Trustee to personal liability. 

        If
the Issuer shall establish pursuant to Section 2.03 that the Securities of a series or a portion thereof are to be issued in the form of one or more Registered Global
Securities, then the Issuer shall execute (in accordance with Section 2.05) and the Trustee shall authenticate and make available for delivery one or more Registered Global Securities that
(i) shall represent and shall be denominated in an amount equal to the aggregate Principal amount of all of the Securities of such series issued in such form and not yet canceled,
(ii) shall be registered in the name of the Depositary for such Registered Global Security or Securities or the nominee of such Depositary, (iii) shall be delivered by the Trustee to
such Depositary or its custodian or pursuant to such Depositary's instructions and (iv) shall bear a legend substantially to the following effect: "Unless and until it is exchanged in whole or
in part for Securities in definitive registered form, this Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the
Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary." 

        Section 2.05.    Execution of Securities.    The Securities shall be signed on behalf of the Issuer by the
chairman of its Board of Directors, its president, any vice president, its treasurer or any assistant treasurer, under its corporate seal and attested by its secretary or any assistant secretary. Such
signatures may be the manual or facsimile signatures of the present or any future such officers. The seal of the Issuer may be in the form of a facsimile thereof and may be impressed, affixed,
imprinted or otherwise reproduced on the Securities. Typographical and other minor errors or defects in any such reproduction of the seal or any such signature shall not affect the validity or
enforceability of any Security that has been duly authenticated and delivered by the Trustee. 

        In
case any officer of the Issuer who shall have signed any of the Securities shall cease to be such officer before the Security so signed shall be authenticated and delivered by the
Trustee or disposed of by the Issuer, such Security nevertheless may be authenticated and delivered or disposed of as though the person who signed such Security had not ceased to be such officer of
the Issuer; and any Security may be signed on behalf of the Issuer by such persons as, at the actual date of the execution of such Security, shall be the proper officers of the Issuer, although at the
date of the execution and delivery of this Indenture any such person was not such an officer. 

        Section 2.06.    Certificate of Authentication.    Only such Securities as shall bear thereon a certificate of
authentication substantially in the form hereinbefore recited, executed by the Trustee by the manual signature of one of its authorized signatories, shall be entitled to the benefits of this Indenture
or be
valid or obligatory for any purpose. Such certificate by the Trustee upon any Security executed by the Issuer shall be conclusive evidence that the Security so authenticated has been duly
authenticated and delivered hereunder and that the Holder is entitled to the benefits of this Indenture. 

        Section 2.07.    Denomination and Date of Securities; Payments of Interest.    The Securities shall be issuable
as registered securities without coupons and in denominations as shall be specified as contemplated by Section 2.03. In the absence of any such specification with respect to the Securities of
any series, the Securities of such series shall be issuable in denominations of $1,000 and any multiple thereof. The Securities shall be numbered, lettered, or otherwise distinguished in such manner
or in 

9

 

accordance
with such plan as the officers of the Issuer executing the same may determine as evidenced by the execution and authentication thereof. 

        Each
Security shall be dated the date of its authentication, shall bear interest, if any, from the date and shall be payable on the dates, in each case, which shall be specified as
contemplated by Section 2.03. 

        The
person in whose name any Security of any series is registered at the close of business on any record date applicable to a particular series with respect to any interest payment date
for such series shall be entitled to receive the interest, if any, payable on such interest payment date notwithstanding any transfer or exchange of such Security subsequent to the record date and
prior to such interest payment date, except if and to the extent the Issuer shall default in the payment of the interest due on such interest payment date for such series, in which case such defaulted
interest shall be paid to the persons in whose names Outstanding Securities for such series are registered at the close of business on a subsequent record date (which shall be not less than five
Business Days prior to the date of payment of such defaulted interest) established by notice given by mail by or on behalf of the Issuer to the Holders of Securities not less than 15 days
preceding such subsequent record date. The term "record date" as used with respect to any interest payment date (except a date for payment of defaulted
interest) shall mean the date specified as such in the terms of the Securities of any particular series, or, if no such date is so specified, if such interest payment date is the first day of a
calendar month, the fifteenth day of the next preceding calendar month or, if such interest payment date is the fifteenth day of a calendar month, the first day of such calendar month, whether or not
such record date is a Business Day. 

        Section 2.08.    Registration, Transfer and Exchange.    The Issuer will keep or cause to be kept at each
office or agency to be maintained for the purpose as provided in Section 3.02 a register or registers in which, subject to such reasonable regulations as it may prescribe, it will register, and
will register the transfer of, Securities as in this Article provided. Such register shall be in written form in the English language or in any other form capable of being converted into such form
within a reasonable time. At all reasonable times such register or registers shall be open for inspection by the Trustee. 

        At
the option of the Holder thereof, Registered Securities of any series (other than a Registered Global Security, except as set forth below) may be exchanged for a Registered Security
or Registered Securities of such series and tenor having authorized denominations and an equal aggregate Principal amount, upon surrender of such Registered Securities to be exchanged at the agency of
the Issuer that shall be maintained for such purpose in accordance with Section 3.02 and upon payment, if the Issuer shall so require, of the charges hereinafter provided. If the Securities of
any series are issued in both registered and unregistered form, except as otherwise established pursuant to Section 2.03, at the option of the Holder thereof, Unregistered Securities of any
series may be exchanged for Registered Securities of such series and tenor having authorized denominations and an equal aggregate Principal amount, upon surrender of such Unregistered Securities to be
exchanged at the agency of the Issuer that shall be maintained for such purpose in accordance with Section 3.02 and upon payment, if the Issuer shall so require, of the charges hereinafter
provided. At the option of the Holder thereof, if Unregistered Securities of any series, maturity date, interest rate and Original Issue Date are issued in more than one authorized denomination,
except as otherwise established pursuant to Section 2.03, such Unregistered Securities may be exchanged for Unregistered Securities of such series and tenor having authorized denominations and
an equal aggregate Principal amount, upon surrender of such Unregistered Securities to be exchanged at the agency of the Issuer that shall be maintained for such purpose in accordance with
Section 3.02 and upon payment, if the Issuer shall so require, of the charges hereinafter provided. Registered Securities of any series may not be exchanged for Unregistered Securities of such
series. Whenever any Securities are so surrendered for exchange, the 

10

 

Issuer
shall execute, and the Trustee shall authenticate and make available for delivery, the Securities which the Holder making the exchange is entitled to receive. 

        All
Registered Securities presented for registration of transfer, exchange, redemption, conversion or payment shall be duly endorsed by, or be accompanied by a written instrument or
instruments of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the Holder or his attorney duly authorized in writing. 

        The
Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any exchange or registration of transfer of
Securities. No service charge shall be made for any such transaction. 

        Notwithstanding
any other provision of this Section 2.08, unless and until it is exchanged in whole or in part for Securities in definitive registered form, a Registered Global
Security representing all or a portion of the Securities of a series may not be transferred except as a whole by the Depositary for such series to a nominee of such Depositary or by a nominee of such
Depositary to such Depositary or another nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor Depositary. 

        If
at any time the Depositary for any Registered Global Securities of any series notifies the Issuer that it is unwilling or unable to continue as Depositary for such Registered Global
Securities or if at any
time the Depositary for such Registered Global Securities shall no longer be eligible under applicable law, the Issuer shall appoint a successor Depositary eligible under applicable law with respect
to such Registered Global Securities. If a successor Depositary eligible under applicable law for such Registered Global Securities is not appointed by the Issuer within 90 days after the
Issuer receives such notice or becomes aware of such ineligibility, the Issuer will execute, and the Trustee, upon receipt of the Issuer's order for the authentication and delivery of definitive
Registered Securities of such series and tenor, will authenticate and make available for delivery Registered Securities of such series and tenor, in any authorized denominations, in an aggregate
Principal amount equal to the Principal amount of such Registered Global Securities, in exchange for such Registered Global Securities. 

        The
Issuer may at any time and in its sole discretion determine that any Registered Global Securities of any series shall no longer be maintained in global form. In such event, or in the
event that there shall have occurred and be continuing an Event of Default with respect to a series of Securities, the Issuer will, upon the request of any Holder, execute, and the Trustee, upon
receipt of the Issuer's order for the authentication and delivery of definitive Registered Securities of such series and tenor, will authenticate and make available for delivery, Registered Securities
of such series and tenor in any authorized denominations, in an aggregate Principal amount equal to the Principal amount of such Registered Global Securities, in exchange for such Registered Global
Securities. 

        Any
time the Registered Securities of any series are not in the form of Registered Global Securities pursuant to the preceding two paragraphs, the Issuer agrees to supply the Trustee
with a reasonable supply of certificated Registered Securities without the legend required by Section 2.04 and the Trustee agrees to hold such Registered Securities in safekeeping until
authenticated and delivered pursuant to the terms of this Indenture. 

        If
established by the Issuer pursuant to Section 2.03 with respect to any Registered Global Security, the Depositary for such Registered Global Security may surrender such
Registered Global Security in exchange in whole or in part for Registered Securities of the same series and tenor in definitive registered form on such terms as are acceptable to the Issuer and such
Depositary. Thereupon, the Issuer shall execute, and the Trustee shall authenticate and make available for delivery, without service charge, 

          (i)  to
the Person specified by such Depositary new Registered Securities of the same series and tenor, of any authorized denominations as requested by such Person, in an
aggregate Principal 

11

 

amount
equal to and in exchange for such Person's beneficial interest in the Registered Global Security; and 

         (ii)  to
such Depositary a new Registered Global Security in a denomination equal to the difference, if any, between the Principal amount of the surrendered Registered Global
Security and the aggregate Principal amount of Registered Securities authenticated and delivered pursuant to clause (i) above. 

        Registered
Securities issued in exchange for a Registered Global Security pursuant to this Section 2.08 shall be registered in such names and in such authorized denominations as
the Depositary for such Registered Global Security, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee or an agent of the Issuer or the Trustee.
The Trustee or such agent shall deliver such Securities to or as directed by the Persons in whose names such Securities are so registered. 

        All
Securities issued upon any transfer or exchange of Securities shall be valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this
Indenture, as the Securities surrendered upon such transfer or exchange. 

        Notwithstanding
anything herein or in the forms or terms of any Securities to the contrary, none of the Issuer, the Trustee or any agent of the Issuer or the Trustee shall be required to
exchange any Unregistered Security for a Registered Security if such exchange would result in adverse Federal income tax consequences to the Issuer (such as, for example, the inability of the Issuer
to deduct from its income, as computed for Federal income tax purposes, the interest payable on the Unregistered Securities) under then applicable United States Federal income tax laws. The Trustee
and any such agent shall be entitled to rely on an Officers' Certificate or an Opinion of Counsel in determining such result. 

        Neither
the Registrar nor the Issuer shall be required (i) to issue, authenticate, register the transfer of or exchange Securities of any series for a period of 15 days
before the mailing of a notice of redemption of such Securities to be redeemed or (ii) to register the transfer of or exchange any Security selected for redemption in whole or in part. 

        Section 2.09.    Mutilated, Defaced, Destroyed, Lost and Stolen Securities.    In case any temporary or
definitive Security shall become mutilated or defaced and shall be surrendered to the Trustee, the Issuer shall execute, and the Trustee shall authenticate and deliver, a new Security of the same
series, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated or defaced Security. If the Holder of any Security claims that the Security has been lost,
destroyed or wrongfully taken, the Issuer shall execute, and the Trustee shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in
exchange and substitution for the lost, destroyed or wrongfully taken Security, if the applicant so requests before the Issuer has notice that the Security has been acquired by a protected purchaser,
and the applicant furnishes to the Issuer and to the Trustee and any agent of the Issuer or the Trustee such security or indemnity as may be required by them to indemnify and defend and to save each
of them harmless and the applicant satisfies other reasonable requirements imposed by the Issuer. 

        Upon
the issuance of any substitute Security, the Issuer may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto
and any other expenses (including the fees and expenses of the Trustee and its counsel) connected therewith. In case any Security which has matured or is about to mature or has been called for
redemption in full shall become mutilated or defaced or be destroyed, lost or stolen, the Issuer may instead of issuing a substitute Security, pay or authorize the payment of the same (without
surrender thereof except in the case of a mutilated or defaced Security), if the applicant for such payment shall furnish to the Issuer and to the Trustee and any agent of the Issuer or the Trustee
such security or 

12

 

indemnity
as any of them may require to save each of them harmless, and, in every case of destruction, loss or wrongful taking, the applicant shall also furnish to the Issuer and the Trustee and any
agent of the Issuer or the Trustee evidence to their satisfaction of the destruction, loss or wrongful taking of such Security and of the ownership thereof. 

        Every
substitute Security of any series issued pursuant to the provisions of this section by virtue of the fact that any such Security is destroyed, lost or stolen shall constitute an
additional contractual obligation of the Issuer, whether or not the destroyed, lost or wrongfully taken Security shall be at any time enforceable by anyone and shall be entitled to all the benefits of
(but shall be subject to all the limitations of rights set forth in) this Indenture equally and proportionately with any and all other Securities of such series duly authenticated and delivered
hereunder. All Securities shall be held and owned upon the express condition that, to the extent permitted by law, the foregoing provisions are exclusive with respect to the replacement or payment of
mutilated, defaced or destroyed, lost or wrongfully taken Securities and shall preclude any and all other rights or remedies. 

        Section 2.10.    Cancellation of Securities; Destruction Thereof.    All Securities surrendered for payment,
redemption, repurchase, conversion, registration of transfer or exchange, if surrendered to the Issuer or any agent of the Issuer or the Trustee, shall be delivered to the Trustee for cancellation or,
if surrendered to the Trustee, shall be canceled by it; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall
dispose of canceled Securities held by it in accordance with the record retention policies of the Trustee in effect from time to time and, if such canceled certificates are destroyed, shall deliver a
certificate of destruction to the Issuer. If the Issuer shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such
Securities unless and until the same are delivered to the Trustee for cancellation. 

        Section 2.11.    Temporary Securities.    Pending the preparation of definitive Securities for any series, the
Issuer may execute and the Trustee shall authenticate and deliver temporary Securities for such series (printed, lithographed, typewritten or otherwise reproduced, in each case in form satisfactory to
the Trustee). Temporary Securities of any series shall be issuable as registered Securities without coupons, of any authorized denomination, and substantially in the form of the definitive Securities
of such series but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Issuer with the concurrence of the Trustee. Temporary
Securities may contain such reference to any provisions of this Indenture as may be appropriate. Every temporary Security shall be executed by the Issuer and be authenticated by the Trustee upon the
same conditions
and in substantially the same manner, and with like effect, as the definitive Securities. Without unreasonable delay the Issuer shall execute and shall furnish definitive Securities of such series and
thereupon temporary Securities of such series may be surrendered in exchange therefor without charge at each office or agency to be maintained by the Issuer for that purpose pursuant to
Section 3.02, and the Trustee shall authenticate and deliver in exchange for such temporary Securities of such series a like aggregate Principal amount of definitive Securities of the
same series of authorized denominations. Until so exchanged, the temporary Securities of any series shall be entitled to the same benefits under this Indenture as definitive Securities of such series. 

        Section 2.12.    Computation of Interest.    Except as otherwise specified in the Securities of a series,
interest shall be computed on the basis of a 360-day year of twelve 30-day months. 

        Section 2.13.    CUSIP Numbers.    The Issuer in issuing the Securities may use "CUSIP" numbers (if then
generally in use), and, if so, the Trustee shall use "CUSIP" numbers in notices of redemption as a convenience to Holders; provided that any such notice
may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on
the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Issuer will notify the Trustee of any change
in the "CUSIP" numbers. 

13

  

 
 

ARTICLE 3
  COVENANTS OF THE ISSUER AND THE TRUSTEE    
    

        Section 3.01.    Payment of Principal and Interest.    The Issuer covenants and agrees for the benefit of each
series of Securities that it will duly and punctually pay or cause to be paid the Principal of, and interest on, each of the Securities of such series at the place or places, at the respective times
and in the manner provided in such Securities. Each installment of interest on the Securities of any series may be paid by mailing checks for such interest payable to or upon the written order of the
Holders of Securities entitled thereto as they shall appear on the registry books of the Issuer. 

        Notwithstanding
any provisions of this Indenture and the Securities of any series to the contrary, if the Issuer and a Holder of any Registered Security so agree or if expressly provided
pursuant to Section 2.03, payments of interest on, and any portion of the Principal of, such Holder's Registered Security shall be made by the paying agent, upon receipt from the Issuer of
immediately available funds by 11:00 a.m., New York City time (or such other time as may be agreed to between the Issuer and the paying agent) or the Issuer, directly to the Holder of
such Security (by wire transfer of Federal funds or immediately available funds or otherwise) if the Holder has delivered written instructions to the Trustee 15 days prior to such payment date
requesting that such payment will be so made and designating the bank account to which such payments shall be so made and, in the case of payments of Principal, surrenders the same to the Trustee. The
Trustee shall be entitled to rely on the last instruction delivered by the Holder pursuant to this Section 3.01 unless a new instruction is delivered 15 days prior to a payment date. The
Issuer will indemnify and hold each of the Trustee and any paying agent harmless against any loss, liability or expense (including attorneys' fees and expenses) resulting from any act or omission to
act on the part of the Issuer or any such Holder in connection with any such agreement or from making any payment in accordance with any such agreement. 

        Section 3.02.    Offices for Payments, etc.    So long as any of the Securities remain outstanding, the Issuer
will maintain in the Borough of Manhattan, The City of New York an office or agency (a) where the Securities may be presented for payment, (b) where the Securities may be presented for
registration of transfer and for exchange as in this Indenture provided, (c) where notices and demands to or upon the Issuer in respect of the Securities or of this Indenture may be served and
(d) for Securities of each series that is convertible, where such Securities may be presented for conversion. The Issuer will give to the Trustee written notice of the location of any such
office or agency and of any change of location thereof. Unless otherwise specified in accordance with Section 2.03, the Issuer hereby initially designates the Corporate Trust Office of Trustee
as the office to be maintained by it for each such purpose. In
case the Issuer shall fail to so designate or maintain any such office or agency or shall fail to give such notice of the location or of any change in the location thereof, presentations and demands
may be made and notices may be served at the Corporate Trust Office. 

        Section 3.03.    Paying Agents.    Whenever the Issuer shall appoint a paying agent other than the Trustee with
respect to the Securities of any series, it will cause such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions
of this Section: 

        (a)   that
it will hold all sums received by it as such agent for the payment of the Principal of or interest on the Securities of such series (whether such sums have been
paid to it by the Issuer or by any other obligor on the Securities of such series) in trust for the benefit of the Holders of the Securities of such series or of the Trustee; 

        (b)   that
it will give the Trustee notice of any failure by the Issuer (or by any other obligor on the Securities of such series) to make any payment of the Principal of or
interest on the Securities of such series when the same shall be due and payable; and 

14

 

        (c)   that
it will pay any such sums so held in trust by it to the Trustee upon the Trustee's written request at any time during the continuance of the failure referred to in
clause 3.03(b) above. 

        The
Issuer will, on or prior to each due date of the Principal of or interest on the Securities of such series, deposit with the paying agent a sum sufficient to pay such Principal or
interest so becoming due, and (unless such paying agent is the Trustee) the Issuer will promptly notify the Trustee of any failure to take such action. 

        If
the Issuer shall act as its own paying agent with respect to the Securities of any Series, it will, on or before each due date of the Principal of or interest on the Securities of
such series, set aside, segregate and hold in trust for the benefit of the Holders of the Securities of such series a sum sufficient to pay such Principal or interest so becoming due. The
Issuer will promptly notify the Trustee of any failure to take such action. 

        Whenever
the Issuer shall have one or more paying agents for any series of Securities, it will, on or before each due date of the Principal of or interest on any Securities of such
series, deposit with the paying agent or agents for the Securities of such series a sum, by 11:00 a.m. New York City time in
immediately available funds on the payment date, sufficient to pay the Principal or interest so becoming due with respect to the Securities of such series, and (unless such paying agent is the
Trustee) the Issuer will promptly notify the Trustee in writing of any failure so to act. 

        Anything
in this section to the contrary notwithstanding, the Issuer may at any time, for the purpose of obtaining a satisfaction and discharge with respect to one or more or all series
of Securities hereunder, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust for any such series by the Issuer or any paying agent hereunder, as required by this
Section, such sums to be held by the Trustee upon the trusts herein contained. 

        Anything
in this Section 3.03 to the contrary notwithstanding, the agreement to hold sums in trust as provided in this Section 3.03 is subject to the provisions of
Section 9.05. 

        Section 3.04.    Certificate of the Issuer.    Within 120 days after the close of the fiscal year ended
    •    , and within 120 days after the close of each fiscal year thereafter, the Issuer will furnish to the Trustee a brief certificate (which need not comply
with Section 10.05) from the principal executive, financial or accounting officer of the Issuer as to his or her knowledge of the Issuer's compliance with all conditions and covenants under the
Indenture (such compliance to be determined without regard to any period of grace or requirement of notice provided under the Indenture). 

        At
the time such certificate is filed, the Issuer will also file with the Trustee a letter or statement of the independent accountants who shall have certified the financial statements
of the Issuer for its preceding fiscal year to the effect that, in making the examination necessary for certification of such financial statements, they have obtained no knowledge of any default by
the Issuer in the performance or fulfillment of any covenant, agreement or condition contained in this Indenture, which default remains uncured at the date of such letter or statement, or, if they
shall have obtained knowledge of any such uncured default, specifying in such letter or statement such default or defaults and the nature and status thereof, it being understood that such accountants
shall not be liable directly or indirectly for failure to obtain knowledge of any such default or defaults, and that nothing contained in this Section 3.04 shall be construed to require such
accountants to make any investigation beyond the scope required in connection with such examination. 

        Section 3.05.    List of Securityholders.    If and so long as the Trustee shall not be the Security registrar
for the Securities of any series, the Issuer will furnish or cause to be furnished to the Trustee a list in such form as the Trustee may reasonably require of the names and addresses of the Holders of
the Securities of such series pursuant to Section 312 of the Trust Indenture Act of 1939 (a) semi-annually not more than 10 days after each record date for the payment
of interest on such Securities, as hereinabove specified, as of such record date and on dates to be determined pursuant to 

15

 

Section 2.03
for non-interest bearing Securities in each year and (b) at such other times as the Trustee may request in writing, within 30 days after receipt by the
Issuer of any such request as of a date not more than 10 days prior to the time such information is furnished. 

        Section 3.06.    Reports by the Issuer.    The Issuer covenants to: 

        (a)   file,
whether or not required to do so under applicable law, with the Trustee, within 15 days after the Issuer files the same with the Commission: 

          (i)  copies
of the annual reports and of the information, documents, and other reports which the Issuer files with the Commission pursuant to Section 13 or
Section 15(d) of the Securities Exchange Act of 1934; and 

         (ii)  such
additional information, documents and reports with respect to compliance by the Issuer with the conditions and covenants provided for in this Indenture as the
Issuer may from time to time file with the Commission; and 

        (b)   transmit
to the Securityholders, in the manner and to the extent provided in Section 10.04, such summaries of any information, documents and reports required to
be filed with the Trustee pursuant to the provisions of subdivision (a) of this Section 3.06 as may be required by the rules and regulations of 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 constructive notice of any
information contained therein or determinable from information contained therein, including the Issuer's compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers' Certificates). 

        Section 3.07.    Corporate Existence.    So long as any of the Securities remain unpaid, the Issuer will at all
times (except as otherwise provided or permitted elsewhere in this Indenture) do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence. 

        Section 3.08.    Restrictions on Mergers, Sales and Consolidations.    So long as any of the Securities remain
unpaid, the Issuer will not consolidate or merge with or sell, convey or lease all or substantially all of its property to any other corporation except as permitted in Article 8 hereof. 

        Section 3.09.    Further Assurances.    From time to time whenever requested by the Trustee, the Issuer will
execute and deliver such further instruments and assurances and do such further acts as may be reasonably necessary or proper to carry out more effectually the purposes of this Indenture or to secure
the rights and remedies hereunder of the Holders of the Securities of any series. 

 
 

ARTICLE 4
  REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

        Section 4.01.    Event of Default Defined; Acceleration of Maturity; Waiver of
Default.    "Event of Default" with respect to Securities of any series wherever used herein, means any one of the
following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or
pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

        (a)   default
by the Issuer in the payment of any installment of interest upon any of the Securities of such series as and when the same shall become due and payable, and
continuance of such default for a period of 30 days; 

16

 

        (b)   default
by the Issuer in the payment of all or any part of the Principal on any of the Securities of such series as and when the same shall become due and payable either
at maturity, upon redemption, by declaration or otherwise, and continuance of such default for a period of five days; 

        (c)   default
by the Issuer in the performance, or breach by the Issuer, of any of its covenants or agreements in respect of the Securities of such series (other than a
covenant or agreement in respect of the Securities of such series a default in whose performance or whose breach is elsewhere in this section specifically dealt with), and continuance of such
default or breach for a period of 30 consecutive days after there has been given, by registered or certified mail, to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders of at
least 25% in Principal amount of the Outstanding Securities of all series affected thereby, a written notice specifying such default or breach and requiring it to be remedied and stating that such
notice is a notice of default hereunder; 

        (d)   the
entry by a court having jurisdiction in the premises of a decree or order for relief in respect of the Issuer in an involuntary case under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect, or the appointment of a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar official) of the Issuer or for any
substantial part of the Issuer's property and assets or the ordering of the winding up or liquidation of the Issuer's affairs, and the continuance of any such decree or order unstayed and in effect
for a period of 90 consecutive days; 

        (e)   the
commencement by the Issuer of a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by the
Issuer to the entry of an order for relief in an involuntary case under any such law, or the consent by the Issuer to the appointment of or taking possession by a receiver, liquidator, assignee,
custodian, trustee or sequestrator (or similar official) of the Issuer or for any substantial part of the Issuer's property, or the making of any general assignment by the Issuer for the benefit of
creditors; or 

        (f)    any
other Event of Default provided in the supplemental indenture or resolution of the Board of Directors under which such series of Securities is issued or in the form
of Security for such series. 

        If
an Event of Default described in clauses 4.01(a), 4.01(b), 4.01(c) or 4.01(f) occurs and is continuing, then, and in each and every such case, unless the Principal of all of the
Securities of such series shall have already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate Principal amount of the Securities of any affected series then
Outstanding hereunder (each such series voting as a separate class) by notice in writing to the Issuer (and to the Trustee if given by Securityholders), may declare the entire Principal (or, if the
Securities of such series are Original Issue Discount Securities, such portion of the Principal amount as may be specified in the terms of such series) of all Securities of such series and the
interest accrued thereon, if any, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable. If an Event of Default described in clauses
4.01(d) or 4.01(e) occurs and is continuing, then the Principal amount of all the Securities then Outstanding and interest accrued thereon, if any, shall be and become immediately due and payable,
without any notice or other action by any Holder or the Trustee, to the full extent permitted by applicable law. 

        The
foregoing provisions, however, are subject to the condition that if, at any time after the Principal (or, if the Securities are Original Issue Discount Securities, such portion of
the Principal as may be specified in the terms thereof) of the Securities of any series (or of all the Securities, as the case may be) shall have been so declared due and payable, and before any
judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter provided, the Issuer shall pay or shall deposit with the Trustee a sum sufficient to pay all
matured installments of interest upon all the Securities of such series (or of all the Securities, as the case may be) and the Principal of any and all Securities of such series (or of all the
Securities, as the case may be) which shall have become due otherwise than by acceleration (with interest upon such Principal and, to the extent that payment of such interest is enforceable under
applicable law, on overdue installments of interest, at the 

17

 

same
rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such series (or at the respective rates of interest or Yields
to Maturity of all the Securities, as the case may be) to the date of such payment or deposit) and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents,
attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of negligence or bad faith, and if any and all Events of Default under
the Indenture, other than the non-payment of the Principal of Securities which shall have become due by acceleration, shall have been cured, waived or otherwise remedied as provided
herein, then and in every such case the Holders of a majority in aggregate Principal amount of all the then Outstanding Securities of all such series that have been accelerated, each such series
voting as a separate class, by written notice to the Issuer and to the Trustee, may waive all defaults with respect to such series (or with respect to all the Securities, as the case may be) and
rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent
thereon. 

        For
all purposes under this Indenture, if a portion of the Principal of any Original Issue Discount Securities shall have been accelerated and declared due and payable pursuant to the
provisions hereof, then, from and after such declaration, unless such declaration has been rescinded and annulled, the Principal amount of such Original Issue Discount Securities shall be deemed, for
all purposes hereunder, to be such Portion of the Principal thereof as shall be due and payable as a result of such acceleration, and payment of such portion of the Principal thereof as shall be due
and payable as a result of such acceleration, together with interest, if any, thereon and all other amounts owing thereunder, shall constitute payment in full of such Original Issue Discount
Securities. 

        Section 4.02.    Collection of Indebtedness by Trustee; Trustee May Prove Debt.    The Issuer covenants that
(a) in case default shall be made in the payment of any installment of interest on any of the Securities of any series when such interest shall have become due and payable, and such default
shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the Principal of any of the Securities of any series when the same
shall have become due and payable, whether upon maturity of the Securities of such series or upon any redemption or by declaration or otherwise, then in each case upon demand of the Trustee, the
Issuer will pay to the Trustee for the benefit of the Holders of the Securities of such series (x) the whole amount that then shall have become due and payable on all Securities of such series
for Principal or interest, as the case may be (with interest to the date of such payment upon the overdue Principal and, to the extent that payment of such interest is enforceable under applicable
law, on overdue installments of interest at the same rate as the rate of
interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such series) and (y) in addition thereto, such further amount as shall be
sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor Trustee, their respective agents and counsel, and any expenses and
liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a result of its negligence or bad faith. 

        Until
such demand is made by the Trustee, the Issuer may pay the Principal of and interest on the Securities of any series to the registered Holders, whether or not the Principal of and
interest on the Securities of such series be overdue. 

        In
case the Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to
institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce
any such judgment or final decree against the Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Issuer or other obligor upon such
Securities, wherever situated, the monies adjudged or decreed to be payable. 

18

 

        In
case there shall be pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal
or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed
for or taken possession of the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Issuer or other obligor upon the Securities of any
series, or to the creditors or property of the Issuer or such other obligor, the Trustee, irrespective of whether the Principal of any Securities shall then be due and payable as therein expressed or
by declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such
proceedings or otherwise: 

        (a)   to
file and prove a claim or claims for the whole amount of Principal and interest (or, if the Securities of any series are Original Issue Discount Securities, such
portion of the Principal amount as may be specified in the terms of such series) owing and unpaid in respect of the Securities of any series, and to file such other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys
and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence or bad faith) and of
the Securityholders allowed in any judicial proceedings relative to the Issuer or other obligor upon the Securities of any series, or to the creditors or property of the Issuer or such other obligor; 

        (b)   unless
prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee
in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings; and 

        (c)   to
collect and receive any monies or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the
Securityholders and of the Trustee on their behalf; and any trustee, receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Securityholders to make payments
to the Trustee, and, in the event that the Trustee shall consent to the making of payments directly to the Securityholders, to pay to the Trustee such amounts as shall be sufficient to cover
reasonable compensation to the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the
Trustee and each predecessor Trustee except as a result of negligence or bad faith and all other amounts due to the Trustee or any predecessor Trustee pursuant to Section 5.06. 

        Nothing
herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization,
arrangement, adjustment or composition affecting the Securities of any series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in
any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar person. 

        All
rights of action and of asserting claims under this Indenture, or under any of the Securities, may be enforced by the Trustee without the possession of any of the Securities or the
production thereof on any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and
any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the
ratable benefit of the Holders of the Securities in respect of which such action was taken. 

19

 

        In
any proceedings brought by the Trustee (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party) the Trustee
shall be held to represent all the Holders of the Securities in respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities parties to any such
proceedings. 

        Section 4.03.    Application of Proceeds.    Any monies collected by the Trustee pursuant to this Article in
respect of any series shall be applied in the following order at the date or dates fixed by the Trustee
and, in case of the distribution of such monies on account of Principal or interest, upon presentation of the several Securities in respect of which monies have been collected and stamping (or
otherwise noting) thereon the payment, or issuing Securities of such series in reduced Principal amounts in exchange for the presented Securities of like series if only partially paid, or upon
surrender thereof if fully paid: 

        FIRST:
To the payment of costs and expenses applicable to such series in respect of which monies have been collected, including reasonable compensation to the Trustee and each
predecessor Trustee and their respective agents and attorneys and of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a result of
negligence or bad faith, and all other amounts due to the Trustee or any predecessor Trustee pursuant to Section 5.06; 

        SECOND:
In case the Principal of the Securities of such series in respect of which monies have been collected shall not have become and be then due and payable, to the payment of
interest on the Securities of such series in default in the order of the maturity of the installments of such interest, with interest (to the extent that such interest has been collected by the
Trustee) upon the overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in such Securities, such
payments to be made ratably to the persons entitled thereto, without discrimination or preference; 

        THIRD:
In case the Principal of the Securities of such series in respect of which monies have been collected shall have become and shall be then due and payable, to the payment of the
whole amount then owing and unpaid upon all the Securities of such series for Principal and interest, with interest upon the overdue Principal, and (to the extent that such interest has been collected
by the Trustee) upon overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of
such series; and in case such monies shall be insufficient to pay in full the whole amount so due and unpaid upon the Securities of such series, then to the payment of such Principal and interest or
yield to maturity, without preference or priority of Principal over interest or yield to maturity, or of interest or yield to maturity over Principal, or of any installment of interest over any other
installment of interest, or of any Security of such series over any other Security of such series, ratably to the aggregate of such Principal and accrued and unpaid interest or yield to maturity; and 

        FOURTH:
To the payment of the remainder, if any, to the Issuer or any other person lawfully entitled thereto. 

        Section 4.04.    Suits for Enforcement.    In case an Event of Default has occurred, has not been waived and is
continuing, the Trustee may proceed to protect and enforce the rights vested in it by this Indenture, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of
any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture or to enforce any other legal or equitable right vested in the Trustee by this
Indenture or by law. 

        Section 4.05.    Restoration of Rights on Abandonment of Proceedings.    In case the Trustee shall have
proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Trustee, then and in
every such case the Issuer and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Issuer, the Trustee and the
Securityholders shall continue as though no such proceedings had been taken. 

20

  

        Section 4.06.    Limitations on Suits by Securityholder.    No Holder of any Security of any series shall have
any right by virtue or by availing of any provision of this Indenture to institute any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or with respect to this
Indenture, or for the appointment of a trustee, receiver, liquidator, custodian or other similar official or for any other remedy hereunder, unless such Holder previously shall have given to the
Trustee written notice of an Event of Default and of the continuance thereof, as hereinbefore provided, and unless also the Holders of not less than 25% in aggregate Principal amount of the Securities
of such series then outstanding shall have made written request upon the Trustee to institute such action or proceedings in respect of such Event of Default in its own name as trustee hereunder and
shall have offered to the Trustee indemnity satisfactory to the Trustee against the costs, expenses and liabilities to be incurred therein or thereby and the Trustee for 60 days after its
receipt of such notice, request and offer of indemnity shall have failed to institute any such action or proceeding and no direction inconsistent with such written request shall have been given to the
Trustee pursuant to Section 4.09; it being understood and intended, and being expressly covenanted by the Holder of every Security with every other Holder and the Trustee, that no one or more
Holders of Securities of any series shall have any right in any manner whatever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of any other such
Holder of Securities, or to obtain or seek to obtain priority over or preference to any other such Holder or to enforce any right under this Indenture, except in the manner herein provided and for the
equal, ratable and common benefit of all Holders of Securities of the applicable series. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the
Trustee shall be entitled to such relief as can be given either at law or in equity. 

        Section 4.07.    Unconditional Right of Securityholders to Institute Certain Suits.    Notwithstanding any
other provision in this Indenture and any provision of any Security, the right of any Holder of any Security to receive payment of the Principal of or interest on such Security on or after the
respective due dates expressed in such Security, or to institute suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent
of such Holder. 

        Section 4.08.    Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default.    Except as provided
in Section 4.06, no right or remedy herein conferred upon or reserved to the Trustee or to the Securityholders 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. 

        No
delay or omission of the Trustee or of any Securityholder to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such
right or power or shall be construed to be a waiver of any such Event of Default or an acquiescence therein; and, subject to Section 4.06, every power and remedy given by this Indenture or by
law to the Trustee or to
the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders. 

        Section 4.09.    Control by Securityholders.    The Holders of a majority in aggregate Principal amount of the
Securities of each series affected (with each series voting as a separate class) at the time outstanding shall have the right to direct the time, method, and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to the Securities of such series by this Indenture;  provided that such direction shall not be
otherwise than in accordance with law and the provisions of this Indenture and  provided further that (subject to the provisions of Section 5.01) the Trustee shall have the right to decline to
follow any such direction if the
Trustee, being advised by counsel, shall determine that the action or proceeding so directed may not lawfully be taken or if the Trustee in good faith by its board of directors, the 

21

 

executive
committee, or a trust committee of directors or Responsible Officers of the Trustee shall determine that the action or proceedings so directed would subject the Trustee to personal liability
or if the Trustee in good faith shall so determine that the actions or forbearances specified in or pursuant to such direction would be unduly prejudicial to the interests of Holders of the Securities
of all series so affected not joining in the giving of said direction. 

        Nothing
in this Indenture shall impair the right of the Trustee to take any action which is not inconsistent with such direction or directions by Securityholders. 

        Section 4.10.    Waiver of Past Defaults.    Prior to a declaration of the acceleration of the maturity of the
Securities of any series as provided in Section 4.01, the Holders of a majority in aggregate Principal amount of the Securities of such series at the time Outstanding (each such series voting
as a separate class) may on behalf of the Holders of all the Securities of such series waive an existing default or Event of Default, except a default in the payment of Principal of or interest on any
Security as specified in clauses (a) or (b) of Section 4.01 or in respect of a covenant or provision hereof which cannot be modified or amended without the consent of each Holder
affected as provided in Section 7.02. In the case of any such waiver, the Issuer, the Trustee and the Holders of the Securities of each series affected shall be restored to their former
positions and rights hereunder, respectively. 

        Upon
any such waiver, such default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been
cured, and not to have occurred for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. 

        Section 4.11.    Trustee to Give Notice of Default, But May Withhold in Certain Circumstances.    The Trustee
shall give to the Securityholders of any series, as the names and addresses of such Holders appear on the registry books, notice by mail of all defaults known to Responsible Officers of the Trustee
which
have occurred with respect to such series, such notice to be transmitted within 90 days after the occurrence thereof, unless such defaults shall have been cured before the giving of such notice
(the term "default" or "defaults" for the purposes of this section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of
Default); provided that, except in the case of default in the payment of the Principal of or interest on any of the Securities of such series, the
Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of
the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders of such series. 

        Section 4.12.    Right of Court to Require Filing of Undertaking to Pay Costs.    All parties to this Indenture
agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy
under this Indenture or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of
such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys' fees and expenses, 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; provided that the provisions of this Section 4.12 shall not apply to
(i) any suit instituted by the Trustee, (ii) any suit instituted by any Securityholder or group of Securityholders of any series holding in the aggregate more than 10% in aggregate
Principal amount of the Securities of such series or (iii) any suit instituted by a Holder pursuant to Section 4.07. 

22

 

 
 

ARTICLE 5
  CONCERNING THE TRUSTEE

        Section 5.01.    Duties and Responsibilities of the Trustee.    With respect to the Holders of any series of
Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving of all Events of Default
which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to
the Securities of a series has occurred (which has not been cured or waived) the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care
and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person's own affairs. 

        (a)   Prior
to the occurrence of an Event of Default with respect to the Securities of any series and after the curing or waiving of all such Events of Default with respect to
such series which may have occurred: 

          (i)  the
duties and obligations of the Trustee with respect to the Securities of any Series shall be determined solely by the express provisions of this Indenture, and the
Trustee shall not be liable except for the performance of such duties and obligations 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 the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon any statements, certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such statements, certificates or
opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the
requirements of this Indenture. 

        (b)   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 (b) shall not be construed to limit the effect of subsection (a) of this Section 5.01; 

         (ii)  the
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee, 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, suffered or omitted to be taken by it in good faith in accordance with the direction of the Holders
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture. 

        None
of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance of any of
its duties or in the exercise of any of its rights or powers, if there shall be reasonable ground for believing that the repayment of such funds or adequate indemnity against such liability is not
reasonably assured to it. 

        The
provisions of this Section 5.01 are in furtherance of and subject to Sections 315 and 316 of the Trust Indenture Act of 1939. 

23

 

        Whether
or not therein expressly provided, every provision of this Indenture relating to the conduct of, affecting the liability of or affording protection to the Trustee shall be
subject to the provisions of this Section 5.01. 

        Section 5.02.    Certain Rights of the Trustee.    In furtherance of and subject to the Trust Indenture Act of
1939, and subject to Section 5.01: 

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

        (b)   any
request, direction, order or demand of the Issuer mentioned herein shall be sufficiently evidenced by an Officers' Certificate (unless other evidence in respect
thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a copy thereof certified by the secretary or an assistant secretary of the
Issuer; 

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

        (d)   the
Trustee shall be under no obligation to exercise any of the trusts or powers vested in it by this Indenture at the request, order or direction of any of the
Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities
which might be incurred by it in connection with such request, order or direction; 

        (e)   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, rights or powers
conferred upon it by this Indenture; 

        (f)    prior
to the occurrence of an Event of Default hereunder and after the curing or waiving of all Events of Default, 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, consent, order, approval, appraisal, bond, debenture, note,
coupon, security, or other paper or document unless requested in writing so to do by the Holders of not less than a majority in aggregate Principal amount of the Securities of all series affected then
outstanding; provided that, if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in
the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require
indemnity satisfactory to it against such expenses or liabilities as a condition to proceeding, and the reasonable expenses of every such investigation shall be paid by the Issuer or, if paid by the
Trustee or any predecessor trustee, shall be repaid by the Issuer upon demand; 

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

        (h)   the
Trustee shall not be liable for any action taken, suffered or omitted in good faith and believed by it to be authorized or within the discretion, rights or powers
conferred upon it by this Indenture; 

        (i)    the
Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless
written notice of any event 

24

 

which
is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture; 

        (j)    the
rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall
be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder; and 

        (k)   the
Trustee may request that the Issuer deliver an Officers' Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take
specified actions pursuant to this Indenture, which Officers' Certificate may be signed by any person authorized to sign an Officers' Certificate, including any person specified as so authorized in
any such certificate previously delivered and not superseded. 

        Section 5.03.    Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds
Thereof.    The recitals contained herein and in the Securities, except the Trustee's certificates of authentication, shall be taken as the statements of the Issuer,
and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or sufficiency of this Indenture or the Securities. The Trustee shall
not be accountable for the use or application by the Issuer of any of the Securities or of the proceeds thereof. 

        Section 5.04.    Trustee and Agents May Hold Securities; Collections, etc.    The Trustee or any agent of the
Issuer or the Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not the Trustee or such agent and may
otherwise deal with the Issuer and receive, collect, hold and retain collections from the Issuer with the same rights it would have if it were not the Trustee or such agent. 

        Section 5.05.    Monies Held by Trustee.    All monies received by the Trustee in trust hereunder need not be
segregated from other funds except to the extent required by mandatory provisions of law. Neither the Trustee nor any agent of the Issuer or the Trustee shall be under any liability for interest on
any monies received by it hereunder. 

        Section 5.06.    Compensation and Indemnification of Trustee and Its Prior Claim.    The Issuer covenants and
agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation as shall be agreed in writing from time to time by the Issuer and the Trustee (which shall not
be limited by any provision of law in regard to the compensation of a trustee of an express trust) and the Issuer covenants and agrees to pay or reimburse the Trustee and each predecessor Trustee upon
its request for all reasonable expenses, disbursements and advances incurred or made by or on behalf of it in accordance with any of the provisions of this Indenture (including the reasonable
compensation and the expenses and disbursements of its counsel and of all agents and other persons not regularly in its employ) except to the extent any such expense, disbursement or advance may arise
from its negligence or bad faith. The Issuer also covenants and agrees to indemnify the Trustee and each predecessor Trustee for, and to hold it harmless against, any loss, liability or expense
arising out of or in connection with the acceptance or administration of this Indenture or the trusts hereunder and the performance of its duties hereunder, including the costs and expenses of
defending itself against or investigating any claim of liability (whether asserted by the Issuer, a Holder or any other Person) in the premises, except to the extent such loss, liability or expense is
due to the negligence or bad faith of the Trustee or such predecessor Trustee. The obligations of the Issuer under this section to compensate and indemnify the Trustee and each predecessor Trustee and
to pay or reimburse the Trustee and each predecessor Trustee for expenses, disbursements and advances shall constitute additional indebtedness hereunder and shall survive the satisfaction and
discharge of this Indenture or the resignation or removal of the Trustee. Such additional indebtedness shall be a senior claim and lien to that of the Securities upon all property and funds held or
collected by the Trustee as such, except funds held in trust for the benefit of the Holders of particular Securities, and the Securities are hereby subordinated 

25

 

to
such senior claim. The parties agree that if the Trustee renders services following an Event of Default under Section 4.01(d) or (e), compensation for such services is intended to constitute
administrative expense under any bankruptcy law. 

        Section 5.07.    Right of Trustee to Rely on Officers' Certificate, etc.    Subject to Sections 5.01 and
5.02, whenever in the administration of the trusts of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting
any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to
be conclusively proved and established by an Officers' Certificate delivered to the Trustee, and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full
warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon the faith thereof. 

        Section 5.08.    Persons Eligible for Appointment as Trustee.    The Trustee for each series of Securities
hereunder shall at all times be a corporation which is eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act of 1939 and which has (or which is a Wholly-Owned
Subsidiary, directly or indirectly, of a bank holding company which has) a combined capital and surplus of $50,000,000. If such corporation or holding company publishes reports of condition at least
annually, pursuant to law or to the requirements of a Federal, State or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus
of such corporation or holding company shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. 

        Section 5.09.    Resignation and Removal; Appointment of Successor Trustee.    (a) The Trustee, or any
trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the Issuer. Upon receiving such
notice of resignation, the Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable series by written instrument in duplicate, executed by authority of the Board of
Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor Trustee shall have been so appointed with respect
to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition, at the expense of the Issuer, any court of
competent jurisdiction for the appointment of a successor Trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months
may, subject to the provisions of Section 4.12, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor Trustee. Such court may
thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor Trustee. 

        (b)   In
case at any time any of the following shall occur: 

          (i)  the
Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act of 1939 with respect to any series of Securities after written
request therefor by the Issuer or by any Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months; 

         (ii)  the
Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act of 1939 and shall fail to resign after
written request therefor by the Issuer or by any Securityholder; or 

        (iii)  the
Trustee shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator 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; 

26

 

then,
in any such case, the Issuer may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series by written instrument, in duplicate,
executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor Trustee, or, subject to
Section 315(e) of the Trust Indenture Act of 1939, any Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may on behalf of himself
and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
trustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

        (c)   The
Holders of a majority in aggregate Principal amount of the Securities of each series at the time outstanding may at any time remove the Trustee with respect to
Securities of such series and appoint a successor Trustee with respect to the Securities of such series by delivering to the Trustee so removed, to the successor Trustee so appointed and to the Issuer
the evidence provided in Section 6.01 of the action in that regard taken by the Securityholders. 

        (d)   Any
resignation or removal of the Trustee with respect to any series and any appointment of a successor trustee with respect to such series pursuant to any of the
provisions of this Section 5.09 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 5.10. 

        Section 5.10.    Acceptance of Appointment by Successor.    Any successor Trustee appointed as provided in
Section 5.09 shall execute and deliver to the Issuer and to its predecessor Trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the
predecessor Trustee with respect to all or any applicable series shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all rights,
powers, duties and obligations with respect to such series of its predecessor hereunder, with like effect as if originally named as Trustee for such series hereunder. On the written request of the
Issuer or of the successor Trustee, upon payment of its charges then unpaid, the Trustee ceasing to act shall, subject to Section 5.06, pay over to the successor Trustee all monies at the time
held by it hereunder and shall execute and deliver an instrument transferring to such successor Trustee all such rights, powers, duties and obligations. Upon request of any such successor Trustee, the
Issuer shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor Trustee all such rights and powers. Any Trustee ceasing to act shall,
nevertheless, retain a prior claim upon all property or funds held or collected by such Trustee to secure any amounts then due it pursuant to the provisions of Section 5.06. 

        If
a successor Trustee is appointed with respect to the Securities of one or more (but not all) series, the Issuer, the predecessor Trustee and each successor Trustee with respect to the
Securities of any applicable series shall execute and deliver an indenture supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the
rights, powers, trusts and duties of the predecessor Trustee with respect to the Securities of any series as to which the predecessor Trustee is not retiring shall continue to be vested in the
predecessor Trustee, and shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one
Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be Trustee
of a trust or trusts under separate indentures. 

        Upon
acceptance of appointment by any successor Trustee as provided in this Section 5.10, the Issuer shall mail notice thereof by first-class mail to the Holders of Securities of
any series for which such successor Trustee is acting as Trustee at their last addresses as they shall appear in the Security register.
If the acceptance of appointment is substantially contemporaneous with the resignation, then the notice called for by the preceding sentence may be combined with the notice called for by
Section 5.09. If the Issuer fails to mail such notice within 10 days after acceptance of appointment by the successor Trustee, the successor Trustee shall cause such notice to be mailed
at the expense of the Issuer. 

27

  

        Section 5.11.    Merger, Conversion, Consolidation or Succession to Business of Trustee.    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 that such corporation shall be eligible
under the provisions of Section 5.08, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. 

        In
case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture any of the Securities of any series shall have been authenticated but not
delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee and deliver such Securities so authenticated; and, in case at that time any of the
Securities of any series shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the
successor Trustee; and in all such cases such certificate shall have the full force which it is anywhere in the Securities of such series or in this Indenture provided that the certificate of the
Trustee shall have; provided, that the right to adopt the certificate of authentication of any predecessor Trustee or to authenticate Securities of any
series in the name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation. 

        Section 5.12.    Reports to the Trustee.    The Trustee shall transmit to Holders such reports concerning the
Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. If required by Section 313(a) of
the Trust Indenture Act, the Trustee shall, within sixty days after each May 15 following the date of the initial issuance of Securities under this Indenture deliver to Holders a brief report,
dated as of such May 15, which complies with the provisions of such Section 313(a). 

        A
copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange, if any, upon which the Securities are listed, with the
Commission and with the Issuer. The Issuer will promptly notify the Trustee when the Securities are listed on any stock exchange and of any delisting thereof. 

 
 

ARTICLE 6
  CONCERNING THE SECURITYHOLDERS

        Section 6.01.    Evidence of Action Taken by Securityholders.    Any request, demand, authorization, direction,
notice, consent, waiver or other action provided by this Indenture to be given or taken by a specified percentage in Principal amount of the Securityholders of any or all series may be embodied in and
evidenced by one or more instruments of substantially similar tenor signed by such specified percentage of Securityholders in person or by agent duly appointed in writing; and, except as herein
otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee. Proof of execution of any instrument or of a writing appointing any
such agent shall be sufficient for any purpose of this Indenture and (subject to Sections 5.01 and 5.02) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in
this Article. 

        Section 6.02.    Proof of Execution of Instruments and of Holding of Securities; Record Date.    Subject to
Sections 5.01 and 5.02, the execution of any instrument by a Securityholder or his agent or proxy may be proved by the certificate of any notary public or other officer authorized to take
acknowledgment of deeds, that the Person executing such instrument acknowledged to such notary public or other such officer the execution thereof, or by an affidavit of a witness to such execution
sworn to before any such notary public or other officer. Where such execution is by an officer of a corporation or association or a member of a partnership on behalf of such corporation, association
or partnership, as the case may be, or by any other Person acting in a representative capacity, such 

28

 

certificate
or affidavit shall also constitute sufficient proof of such Person's authority. The holding of Securities shall be proved by the Security register or by a certificate of the registrar
thereof. The Issuer may set a record date for purposes of determining the identity of Holders of Securities of any series entitled to vote or consent to any action referred to in Section 6.01,
which record date may be set at any time or from time to time by notice to the Trustee, for any date or dates (in the case of any adjournment or reconsideration) not more than 60 days nor less
than five days prior to the proposed date of such vote or consent, and thereafter, notwithstanding any other provisions hereof, only Holders of Securities of such series of record on such record date
shall be entitled to so vote or give such consent or revoke such vote or consent. 

        Section 6.03.    Holders to be Treated as Owners.    Prior to due presentment of a Security for registration of
transfer, the Issuer, the Trustee and any agent of the Issuer or the Trustee may deem and treat the person in whose name any Security shall be registered upon the Security register for such series as
the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on
account of the Principal of and, subject to the provisions of this Indenture, interest on such Security and for all other purposes, and neither the Issuer nor the Trustee nor any agent of the Issuer
or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such person, or upon his order, shall be valid, and, to the extent of the sum or sums so paid,
effectual to satisfy and discharge the liability for monies payable upon any such Security. 

        Section 6.04.    Securities Owned by Issuer Deemed Not Outstanding.    In determining whether the Holders of
the requisite aggregate Principal amount of Outstanding Securities of any or all series have concurred in any direction, consent or waiver under this Indenture, Securities which are owned by the
Issuer or
any other obligor on the Securities with respect to which such determination is being made or by any person directly or indirectly controlling or controlled by or under direct or indirect common
control with the Issuer or any other obligor on the Securities with respect to which such determination is being made shall be disregarded and deemed not to be Outstanding for the purpose of any such
determination, except that for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver only Securities as to which the Trustee has
received written notice are so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of
the Trustee the pledgee's right so to act with respect to such Securities and that the pledgee is not the Issuer or any other obligor upon the Securities or any person directly or indirectly
controlling or controlled by or under direct or indirect common control with the Issuer or any other obligor on the Securities. In case of a dispute as to such right, the advice of counsel shall be
full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of the Trustee, the Issuer shall furnish to the Trustee promptly an Officers' Certificate
listing and identifying all Securities, if any, known by the Issuer to be owned or held by or for the account of any of the above-described persons; and, subject to Sections 5.01 and 5.02, the
Trustee shall be entitled to accept such Officers' Certificate as conclusive evidence of the facts therein set forth and of the fact that all Securities not listed therein are Outstanding for the
purpose of any such determination. 

        Section 6.05.    Right of Revocation of Action Taken.    At any time prior to (but not after) the evidencing to
the Trustee, as provided in Section 6.01, of the taking of any action by the Holders of the percentage in aggregate Principal amount of the Securities of any or all series, as the case may be,
specified in this Indenture in connection with such action, any Holder of a Security the serial number of which is shown by the evidence to be included among the serial numbers of the Securities the
Holders of which have consented to such action may, by filing written notice at the Corporate Trust Office and upon proof of holding as provided in this Article, revoke such action so far as concerns
such Security. Except as aforesaid any such action taken by the Holder of any Security shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Security and of
any 

29

 

Securities
issued in exchange or substitution therefor, irrespective of whether or not any notation in regard thereto is made upon any such Security. Any action taken by the Holders of the percentage
in aggregate Principal amount of the Securities of any or all series, as the case may be, specified in this Indenture in connection with such action shall be conclusively binding upon the Issuer, the
Trustee and the Holders of all the Securities affected by such action. 

 
 

ARTICLE 7
  SUPPLEMENTAL INDENTURES

        Section 7.01.    Supplemental Indentures Without Consent of Securityholders.    The Issuer, when authorized by
a resolution of its Board of Directors certified to the Trustee, and the Trustee may from time to time and
at any time enter into an indenture or indentures supplemental hereto for one or more of the following purposes: 

        (a)   to
evidence the succession of another corporation to the Issuer, or successive successions, and the assumption by the successor corporation of the covenants, agreements
and obligations of the Issuer pursuant to Article 8; 

        (b)   (i) to
cure any ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture which may be defective or inconsistent with
any other provision contained herein or in any supplemental indenture, (ii) to conform the terms of Securities to the description thereof in the prospectus and prospectus supplement (or similar
offering document) offering such Securities or (iii) to make such other provisions in regard to matters or questions arising under this Indenture or under any supplemental indenture as the
Board of Directors may deem necessary or desirable and which shall not adversely affect the interests of the Holders of the Securities in any material respect; 

        (c)   to
establish the form or terms of Securities of any series as permitted by Sections 2.01 and 2.03; 

        (d)   to
evidence and provide for the acceptance of appointment hereunder by a successor trustee with respect to the Securities of one or more series and to add to or change
any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, pursuant to the requirements of
Section 5.10; 

        (e)   to
comply with any requirements of the Commission in connection with the qualification of this Indenture under the Trust Indenture Act of 1939; 

        (f)    to
provide for uncertificated or Unregistered Securities and to make all appropriate changes for such purpose; 

        (g)   to
make any change that does not adversely affect the rights of any Holder; 

        (h)   to
add to the covenants of the Issuer such new covenants, restrictions, conditions or provisions as its Board of Directors shall consider to be for the protection of the
Holders of Securities, and with respect to which the Trustee has received an Opinion of Counsel to a similar effect, and to make the occurrence, or the occurrence and continuance, of a default in any
such additional covenants, restrictions, conditions or provisions an Event of Default; provided, that in respect of any such additional covenant,
restriction, condition or provision such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other
defaults) or may provide for an immediate enforcement upon such an Event of Default or may limit the remedies available to the Trustee upon such an Event of Default or may limit the right of the
Holders of a majority in aggregate Principal amount of the Securities of such series to waive such an Event of Default; or 

        (i)    to
make any change so long as no Securities are Outstanding. 

30

 

        The
Trustee is hereby authorized to join with the Issuer in the execution of any such supplemental indenture, to make any further appropriate agreements and stipulations which may be
therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be obligated to enter into any such supplemental
indenture which affects the Trustee's own rights, duties or immunities under this Indenture or otherwise. 

        Any
supplemental indenture authorized by the provisions of this section may be executed without the consent of the Holders of any of the Securities at the time outstanding,
notwithstanding any of the provisions of Section 7.02. 

        Section 7.02.    Supplemental Indentures With Consent of Securityholders.    With the consent (evidenced as
provided in Article 6) of the Holders of not less than a majority in aggregate Principal amount of the Securities at the time Outstanding of all series affected by such supplemental indenture
(voting as one class), the Issuer, when authorized by a resolution of its Board of Directors, and the Trustee may, from time to time and at any time, enter into an indenture or indentures supplemental
hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the
rights of the Holders of the Securities of each such series; provided, that no such supplemental indenture shall without the consent of each Holder
affected thereby: 

          (i)  change
the stated maturity of the Principal of, or the time of payment of any installment of interest on, such Holder's Security; 

         (ii)  reduce
the Principal thereof or the rate of interest thereon, or any premium payable with respect thereto; 

        (iii)  change
any place of payment where, or the currency in which, any Security or any premium or the interest thereon is payable; 

        (iv)  change
the provisions for calculating any redemption or repurchase price, including the definitions relating thereto; 

         (v)  make
any change to Section 4.07 or 4.10 (except to include other provisions subject to Section 4.10); 

        (vi)  reduce
the percentage in Principal amount of outstanding Securities of the relevant series the consent of whose Holders is required for any such supplemental indenture,
for any waiver of compliance with any provisions of this Indenture or any defaults and their consequences provided for in this Indenture; 

       (vii)  alter
or impair the right to convert any Security at the rate and upon the terms provided in Article 12; 

      (viii)  waive
a default in the payment of Principal of or interest on any Security of such Holder (except pursuant to a rescission of acceleration pursuant to
Section 4.01); 

        (ix)  adversely
affect the rights of such Holder under any mandatory redemption or repurchase provision or any right of redemption or repurchase at the option of such Holder; 

         (x)  modify
any of the provisions of this Section 7.02, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be
modified or waived without the consent of the Holder of each outstanding Security affected thereby; or 

        (xi)  change
or waive any provision that, pursuant to a board resolution or indenture supplemental hereto establishing the terms of one or more series of Securities, is
prohibited to be so changed or waived. 

31

 

        Upon
the written request of the Issuer, accompanied by a copy of a resolution of the Board of Directors certified by the secretary or an assistant secretary of the Issuer authorizing the
execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders as aforesaid and other documents, if any, required by
Section 6.01, the Trustee shall join with the Issuer in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee's own rights, duties or immunities
under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 

        It
shall not be necessary for the consent of the Securityholders under this section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if
such consent shall approve the substance thereof. 

        Promptly
after the execution by the Issuer and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Issuer shall mail a notice thereof by first class
mail to the Holders of Securities of each series affected thereby at their addresses as they shall appear on the registry books of the Issuer, setting forth in general terms the substance of such
supplemental indenture. Any failure of the Issuer to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 

        Section 7.03.    Effect of Supplemental Indenture.    Upon the execution of any supplemental indenture pursuant
to the provisions hereof, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities
under this Indenture of the Trustee, the Issuer and the Holders of Securities of each series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects
to such modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and
all purposes. 

        Section 7.04.    Documents to Be Given to Trustee.    The Trustee, subject to the provisions of
Sections 5.01 and 5.02, may receive an Officers' Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article 7 complies
with the applicable provisions of this Indenture. 

        Section 7.05.    Notation on Securities in Respect of Supplemental Indentures.    Securities of any series
authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article may bear a notation in form approved by the Trustee for such series as to any
matter provided for by such supplemental indenture or as to any action taken at any such meeting. If the Issuer or the Trustee shall so determine, new Securities of any series so modified as to
conform, in the opinion of the Trustee and the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Issuer, authenticated by
the Trustee and delivered in exchange for the Securities of such series then outstanding. 

 
 

ARTICLE 8
  CONSOLIDATION, MERGER, SALE OR CONVEYANCE

        Section 8.01.    Issuer May Consolidate, etc., on Certain Terms.    The Issuer covenants that it will not merge
or consolidate with any other Person or sell, convey, transfer, lease or otherwise dispose of all or substantially all of its property and assets to any Person (other than a consolidation with or
merger with or into or a sale, conveyance, transfer, lease or other disposition to a Wholly-Owned Subsidiary with a positive net worth; provided that,
in connection with any such merger of the Issuer with a Wholly-Owned Subsidiary, no consideration (other than common stock) in the surviving person or the Issuer shall be issued or distributed to the
stockholders of the Issuer), unless (i) either (x) the Issuer shall be the continuing corporation, or the successor corporation or (y) the Person formed by such consolidation 

32

 

or
into which the Issuer is merged or that acquires by sale or conveyance substantially all the assets of the Issuer (if other than the Issuer) shall be a corporation or limited liability company
organized and validly existing under the laws of the United States of America or any jurisdiction thereof and shall expressly assume the due and punctual payment of the Principal of and interest on
all the Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed or observed by the Issuer, by
supplemental indenture satisfactory to the Trustee, executed and delivered to the Trustee by such Person, (ii) immediately after giving effect to such transaction, no default or Event of
Default shall have occurred and be continuing and (iii) the Issuer delivers to the Trustee an Officers' Certificate and Opinion of Counsel, in each case stating that such consolidation, merger
or transfer and such supplemental indenture complies with this Section 8.01 and that all conditions precedent provided for herein relating to such transaction have been complied with;  provided,
however, that the foregoing limitations shall not apply if, in the good faith determination of the Board of Directors, whose determination
shall be evidenced by a board resolution certified to the Trustee, the principal purpose of such transaction is to change the state of incorporation of the Issuer; and provided
further that any such transaction shall not have as one of its purposes the evasion of the foregoing limitations. 

        Section 8.02.    Successor Corporation Substituted.    In case of any such consolidation, merger, sale,
conveyance, transfer, lease or other disposition, and following such an assumption by the successor
Person, such successor Person shall succeed to and be substituted for the Issuer, with the same effect as if it had been named herein. Such successor Person may cause to be signed, and may issue
either in its own name or in the name of the Issuer prior to such succession any or all of the Securities issuable hereunder which theretofore shall not have been signed by the Issuer and delivered to
the Trustee; and, upon the order of such successor Person instead of the Issuer and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee, pursuant to the
terms hereof, shall authenticate and shall deliver any Securities which previously shall have been signed and delivered by the officers of the Issuer to the Trustee for authentication, and any
Securities which such successor Person thereafter shall cause to be signed and delivered to the Trustee for that purpose. All of the Securities so issued shall in all respects have the same legal rank
and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Securities had been issued at the date of the
execution hereof. 

        In
case of any such consolidation, merger, sale, conveyance, transfer, lease or other disposition, such changes in phraseology and form (but not in substance) may be made in the
Securities thereafter to be issued as may be appropriate. 

        Upon
the assumption by the successor Person in the manner described in this Article, the Issuer shall be discharged from all obligations and covenants under this Indenture and the
Securities. 

 
 

ARTICLE 9
  DISCHARGE OF INDENTURE    
    

        Section 9.01.    Defeasance Within One Year of Payment.    Except as otherwise provided in this
Section 9.01, the Issuer may terminate its obligations under the Securities of any series and this Indenture with respect to Securities of such series if: 

          (i)  all
Securities of such series previously authenticated and delivered (other than destroyed, lost or wrongfully taken Securities of such series that have been replaced
or Securities of such series for whose payment money or securities have theretofore been held in trust and thereafter repaid to the Issuer, as provided in Section 9.05) have been delivered to
the Trustee for cancellation and the Issuer has paid all sums payable by it hereunder; or 

33

  

         (ii)  (A) the
Securities of such series mature within one year or all of them are to be called for redemption within one year under arrangements satisfactory to the
Trustee for giving the notice of redemption, (B) the Issuer irrevocably deposits in trust with the Trustee, as trust funds solely for the benefit of the Holders of such Securities for that
purpose, money or U.S. Government Obligations or a combination thereof sufficient (unless such funds consist solely of money, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee), without consideration of any reinvestment and after payment of all Federal, state and local taxes or other charges
and assessments in respect thereof payable by the Trustee, to pay Principal of and interest on the Securities of such series to maturity or redemption, as the case may be, and to pay all other sums
payable by it hereunder and (C) the Issuer delivers to the Trustee an Officers' Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided for herein
relating to the satisfaction and discharge of this Indenture with respect to the Securities of such series have been complied with. 

        With
respect to the foregoing clause (i), only the Issuer's obligations under Sections 5.06 and 9.05 in respect of the Securities of such series shall survive. With respect
to the foregoing clause (ii), only the Issuer's obligations in Sections 2.03 through 2.11, 3.02, 5.06, 5.09 and 9.05 in respect of the Securities of such series shall survive until such
Securities of such series are no longer outstanding. Thereafter, only the Issuer's obligations in Sections 5.06 and 9.05 in respect of the Securities of such series shall survive. After any such
irrevocable deposit, the Trustee shall acknowledge in writing the discharge of the Issuer's obligations under the Securities of such series and this Indenture with respect to the Securities of such
series except for those surviving obligations specified above. 

        Section 9.02.    Defeasance.    Except as provided below, the Issuer will be deemed to have paid and will be
discharged from any and all obligations in respect of the Securities of any series and the provisions of this Indenture will no longer be in effect with respect to the Securities of such series (and
the Trustee, at the expense of the Issuer, shall execute instruments in form and substance satisfactory to the Issuer and the Trustee acknowledging the same) if the following conditions shall have
been satisfied: 

          (i)  the
Issuer has irrevocably deposited in trust with the Trustee as trust funds specifically pledged as security for, and dedicated solely to, Holders of the Securities
of such series, for payment of the Principal of and interest on the Securities of such series, money or U.S. Government Obligations or a combination thereof sufficient (unless such funds consist
solely of money, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee) without consideration of any
reinvestment and after payment of all federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee, to pay and discharge the Principal of and accrued
interest on the outstanding Securities of such series to maturity or earlier redemption (irrevocably provided for under arrangements satisfactory to the Trustee), as the case may be; 

         (ii)  such
deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which the
Issuer is a party or by which it is bound; 

        (iii)  no
default or Event of Default with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit; 

        (iv)  the
Issuer shall have delivered to the Trustee (1) either (x) a ruling directed to the Trustee received from the Internal Revenue Service to the effect
that the Holders of the Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result of the Issuer's exercise of its option under this
Section 9.02 and will be subject to federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit and defeasance had not
occurred or (y) an Opinion of Counsel to the same effect 

34

 

as
the ruling described in clause (x) above and based upon a change in law and (2) an Opinion of Counsel to the effect that the Holders of the Securities of such series have a valid
security interest in the trust funds subject to no prior liens under the UCC; and 

         (v)  the
Issuer has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided for herein
relating to the defeasance contemplated by this Section 9.02 of the Securities of such series have been complied with. 

        The
Issuer's obligations in Sections 2.03 through 2.11, 3.02, 5.06, 5.09 and 9.05 with respect to the Securities of such series shall survive until such Securities are no longer
outstanding. Thereafter, only the Issuer's obligations in Sections 5.06 and 9.05 shall survive. 

        Section 9.03.    Covenant Defeasance.    The Issuer may omit to comply with any term, provision or condition
set forth in Sections 3.04, 3.06 or 3.08 (or any other specific covenant relating to the Securities of any series provided for in a Board Resolution or supplemental indenture pursuant to
Section 2.03 which may by its terms be defeased pursuant to this Section 9.03), and such omission shall be deemed not to be an Event of Default under clause (c) of
Section 4.01, with respect to the outstanding Securities of such series if: 

          (i)  the
Issuer has irrevocably deposited in trust with the Trustee as trust funds solely for the benefit of the Holders of the Securities of such series, for payment of the
Principal of and interest, if any, on the Securities of such series, money or U.S. Government Obligations or a combination thereof in an amount sufficient (unless such funds consist solely of money,
in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the
Trustee) without consideration of any reinvestment and after payment of all Federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee, to pay and
discharge the Principal of and interest on the outstanding Securities of such series to maturity or earlier redemption (irrevocably provided for under arrangements satisfactory to the Trustee), as the
case may be; 

         (ii)  such
deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which the
Issuer is a party or by which it is bound; 

        (iii)  no
default or Event of Default with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit; 

        (iv)  the
Issuer has delivered to the Trustee an Opinion of Counsel to the effect that (A) the Holders of the Securities of such series have a valid security interest
in the trust funds subject to no prior liens under the UCC and (B) such Holders will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and covenant
defeasance and will be subject to federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; and 

         (v)  the
Issuer has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided for herein
relating to the covenant defeasance contemplated by this Section 9.03 of the Securities of such series have been complied with. 

        Section 9.04.    Application of Trust Money.    Subject to Section 9.05, the Trustee or Paying Agent
shall hold in trust money or U.S. Government Obligations deposited with it pursuant to Section 9.01, 9.02, or 9.03, as the case may be, in respect of the Securities of any series and shall
apply the deposited money and the proceeds from deposited U.S. Government Obligations in accordance with the Securities of such series and this Indenture to the payment of Principal of and interest on
the 

35

 

Securities
of such series; provided that such money need not be segregated from other funds except to the extent required by law. The Issuer shall pay
and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 9.01, 9.02, or 9.03, as the case may
be, or the Principal and interest received in respect thereof, other than any such tax, fee or other charge that by law is for the account of the Holders. 

        Section 9.05.    Repayment to Issuer.    Subject to Sections 5.06, 9.01, 9.02 and 9.03, the Trustee and
the Paying Agent shall promptly pay to the Issuer upon request set forth in an Officers' Certificate any money held by them at any time and not required to make payments hereunder and thereupon shall
be
relieved from all liability with respect to such money. Subject to applicable escheat or abandoned property laws, the Trustee and the Paying Agent shall pay to the Issuer upon written request any
money held by them and required to make payments hereunder under this Indenture that remains unclaimed for two years; provided that the Trustee or such
Paying Agent before being required to make any payment shall cause to be published at the expense of the Issuer once in an Authorized Newspaper or mail to each Holder entitled to such money at such
Holder's address (as set forth in the register) notice that such money remains unclaimed and that after a date specified therein (which shall be at least 30 days from the date of such
publication or mailing) any unclaimed balance of such money then remaining will be repaid to the Issuer. After payment to the Issuer, Holders entitled to such money must look to the Issuer for payment
as unsecured general creditors unless an abandoned property law designates another Person, and all liability of the Trustee and such Paying Agent with respect to such money shall cease. 

 
 

ARTICLE 10
  MISCELLANEOUS PROVISIONS

        Section 10.01.    Incorporators, Stockholders, Officers and Directors Exempt from Individual Liability.    No
recourse under or upon any obligation, covenant or agreement contained in this Indenture or in any Security, or because of any indebtedness evidenced thereby, shall be had against any incorporator, as
such, or against any past, present or future stockholder, officer, director or employee, as such, of the Issuer or of any successor Person thereof, either directly or through the Issuer or any
successor Person thereof, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability
being expressly waived and released by the acceptance of the Securities by the Holders thereof and as part of the consideration for the issue of the Securities. 

        Section 10.02.    Provisions of Indenture for the Sole Benefit of Parties and Securityholders.    Nothing in
this Indenture or in the Securities, expressed or implied, shall give or be construed to give to any person, firm or corporation, other than the parties hereto and their successors and the Holders of
the Securities, any legal or equitable right, remedy or claim under this Indenture or under any covenant or provision herein contained, all such covenants and provisions being for the sole benefit of
the parties hereto and their successors and of the Holders of the Securities. 

        Section 10.03.    Successors and Assigns of Issuer Bound by Indenture.    All the covenants, stipulations,
promises and agreements contained in this Indenture by or on behalf of the Issuer shall bind its successors and assigns, whether so expressed or not. 

        Section 10.04.    Notices and Demands on Issuer, Trustee and Securityholders.    Any notice or demand which by
any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders of Securities to or on the Issuer may be given or served by being deposited postage
prepaid, first-class mail (except as otherwise specifically provided herein) addressed (until another address of the Issuer is filed by the Issuer with the Trustee) to FormFactor, Inc. at 7005
Southfront Road, Livermore, California 94551, Attention: Chief Financial Officer. Any notice, direction, request or 

36

 

demand
by the Issuer or any Securityholder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made at the Corporate Trust Office. 

        Where
this Indenture provides for notice to Holders, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage
prepaid, to each Holder entitled thereto, at such Holder's last address as it appears in the Security register. In any case where notice to Holders is given by mail, neither the failure to mail such
notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any
manner, such notice may be waived in writing by the person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice
by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 

        In
case, by reason of the suspension of or irregularities in regular mail service, it shall be impracticable to mail notice to the Issuer and Securityholders when such notice is required
to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice. 

        Section 10.05.    Officers' Certificates and Opinions of Counsel; Statements to be Contained Therein.    Upon
any application or demand by the Issuer to the Trustee to take any action under any of the provisions of this Indenture, the Issuer shall furnish to the Trustee an Officers' Certificate stating that
all conditions precedent provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such
conditions precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this
Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished. 

        Each
certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall
include (a) a statement that the person making such certificate or opinion has read such covenant or condition, (b) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion are based, (c) a statement that, in the opinion of such person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with and (d) a
statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with. 

        Any
certificate, statement or opinion of an officer of the Issuer may be based, insofar as it relates to legal matters, upon a certificate or opinion of or representations by counsel,
unless such officer knows that the certificate or opinion or representations with respect to the matters upon which his certificate, statement or opinion may be based as aforesaid are erroneous, or in
the exercise of reasonable care should know that the same are erroneous. Any certificate, statement or opinion of counsel may be based, insofar as it relates to factual matters, information with
respect to which is in the possession of the Issuer, upon the certificate, statement or opinion of or representations by an officer or officers of the Issuer, unless such counsel knows that the
certificate, statement or opinion or representations with respect to the matters upon which his certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise of
reasonable care should know that the same are erroneous. 

        Any
certificate, statement or opinion of an officer of the Issuer or of counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion of or
representations by an accountant or firm of accountants in the employ of the Issuer, unless such officer or counsel, as the 

37

 

case
may be, knows that the certificate or opinion or representations with respect to the accounting matters upon which his certificate, statement or opinion may be based as aforesaid are erroneous,
or in the exercise of reasonable care should know that the same are erroneous. 

        Any
certificate or opinion of any independent firm of public accountants filed with the Trustee shall contain a statement that such firm is independent. 

        Section 10.06.    Payments Due on Saturdays, Sundays and Holidays.    If the date of maturity of interest on or
Principal of the Securities of any series or the date fixed for redemption or repayment of any such Security shall not be a Business Day, then payment of interest or Principal need not be made on such
date, but may be made on the next succeeding Business Day with the same force and effect as if made on the date of maturity or the date fixed for redemption, and no interest shall accrue for the
period after such date. 

        Section 10.07.    Conflict of Any Provision of Indenture with Trust Indenture Act of 1939.    If and to the
extent that any provision of this Indenture limits, qualifies or conflicts with another provision incorporated in this Indenture by operation of Sections 310 to 317, inclusive, of the Trust
Indenture Act of 1939, such incorporated provision shall control. 

        Section 10.08.    New York Law to Govern.    This Indenture and each Security shall be deemed to be a contract
under the laws of the State of New York, and for all purposes shall be construed in accordance with the laws of such State. 

        Section 10.09.    Counterparts.    This Indenture may be executed in any number of counterparts, each of which
shall be an original; but such counterparts shall together constitute but one and the same instrument. 

        Section 10.10.    Effect of Headings.    The Article and Section headings herein and the Table of Contents are
for convenience only and shall not affect the construction hereof. 

 
 

ARTICLE 11
  REDEMPTION OF SECURITIES

        Section 11.01.    Applicability of Article.    The provisions of this Article shall be applicable to the
Securities of any series which are redeemable before their maturity except as otherwise specified as contemplated by Section 2.03 for Securities of such series. 

        Section 11.02.    Notice of Redemption; Partial Redemptions.    Notice of redemption to the Holders of
Securities of any series to be redeemed as a whole or in part at the option of the Issuer shall be given by mailing notice of such redemption by first class mail, postage prepaid, at least
30 days and not more than 60 days prior to the date fixed for redemption to such Holders of Securities of such series at their last addresses as they shall appear upon the registry
books. Any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives the notice. Failure to give notice by mail,
or any defect in the notice to the Holder of any Security of a series designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other
Security of such series. 

38

  

        The notice of redemption to each such Holder shall specify the CUSIP numbers of such Securities to be redeemed, the Principal amount of each Security of such series held by such Holder
to be redeemed, the date fixed for redemption, the redemption price, the place or places of payment, that payment will be made upon presentation and surrender of such Securities, that interest accrued
to the date fixed for redemption will be paid as specified in such notice and that on and after said date interest thereon or on the portions thereof to be redeemed will cease to accrue. In case any
Security of a series is to be redeemed in part only the notice of redemption shall state the portion of the Principal amount thereof to be redeemed, the method the Trustee shall use to determine such
Securities to be redeemed as specified in the last paragraph of this Section 11.02, if applicable, and shall state that on and after the date fixed for redemption, upon surrender of such
Security, a new Security or Securities of such series in Principal amount equal to the unredeemed portion thereof will be issued. 

        The
notice of redemption of Securities of any series to be redeemed at the option of the Issuer shall be given by the Issuer or, at the Issuer's written request, by the Trustee in the
name and at the expense of the Issuer. 

        By
11:00 a.m. (New York City time) on the redemption date specified in the notice of redemption given as provided in this Section, the Issuer will deposit with the Trustee or with
one or more paying agents (or, if the Issuer is acting as its own paying agent, set aside, segregate and hold in trust as provided in Section 3.03) an amount of money sufficient to redeem on
the redemption date all the Securities of such series so called for redemption at the appropriate redemption price, together with accrued interest to the date fixed for redemption. If less than all
the outstanding Securities of a series are to be redeemed, the Issuer will deliver to the Trustee at least 70 days (unless a shorter period shall be satisfactory to the Trustee) prior to the
date fixed for redemption an Officers' Certificate stating the aggregate Principal amount of Securities to be redeemed. 

        In
the case of the redemption of all of the Securities of a series outstanding, the Issuer shall notify the Trustee in writing of the redemption date 45 days (unless a shorter
period shall be satisfactory to the Trustee) prior to the redemption date. 

        If
less than all the Securities of a series are to be redeemed, the Trustee shall select, pro rata or by lot or in such manner as it shall deem appropriate and fair, Securities of such
series to be redeemed in whole or in part. Securities of a series may be redeemed in part in multiples equal to the minimum authorized denomination for Securities of such series or any multiple
thereof. The Trustee shall promptly notify the Issuer in writing of the Securities of such series selected for redemption and, in the case of any Securities of such series selected for partial
redemption, the Principal amount thereof to be redeemed. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities of any
series shall relate, in the case of any Security redeemed
or to be redeemed only in part, to the portion of the Principal amount of such Security which has been or is to be redeemed. 

        Section 11.03.    Payment of Securities Called for Redemption.    If notice of redemption has been given as
above provided, the Securities or portions of Securities specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price,
together with interest accrued to the date fixed for redemption, and on and after said date (unless the Issuer shall default in the payment of such Securities at the redemption price, together with
interest accrued to said date) interest on the Securities or portions of Securities so called for redemption shall cease to accrue and, except as provided in Sections 5.05 and 9.04, such
Securities shall cease from and after the date fixed for redemption to be entitled to any benefit or security under this Indenture, and the Holders thereof shall have no right in respect of such
Securities except the right to receive the redemption price thereof and unpaid interest to the date fixed for redemption. On presentation and surrender of such Securities at a place of payment
specified in said notice, said Securities or the specified portions thereof shall be paid and redeemed by the Issuer at the applicable redemption price, 

39

 

together
with interest accrued thereon to the date fixed for redemption; provided that any semiannual payment of interest becoming due on the date fixed
for redemption shall be payable to the Holders of such Securities registered as such on the relevant record date subject to the terms and provisions of Section 2.07 hereof. 

        If
any Security called for redemption shall not be so paid upon surrender thereof for redemption, the Principal shall, until paid or duly provided for, bear interest from the date fixed
for redemption at the rate of interest or Yield to Maturity (in the case of an Original Issue Discount Security) borne by the Security. 

        Upon
presentation of any Security redeemed in part only, the Issuer shall execute and the Trustee shall authenticate and deliver to or on the order of the Holder thereof, at the expense
of the Issuer, a new Security or Securities of such series, of authorized denominations, in Principal amount equal to the unredeemed portion of the Security so presented, pursuant to
Sections 2.04, 2.05 and 2.06. 

        Section 11.04.    Exclusion of Certain Securities from Eligibility for Selection for Redemption.    Securities
shall be excluded from eligibility for selection for redemption if they are identified by registration and certificate number in a written statement signed by an authorized officer of the Issuer and
delivered to the Trustee at least 40 days prior to the last date on which notice of redemption may be given as being owned of record and beneficially by, and not pledged or hypothecated by
either (a) the Issuer or (b) an entity specifically identified in such written statement directly or indirectly controlling or controlled by or under direct or indirect common control
with the Issuer. 

        Section 11.05.    Conversion Arrangement On Call For Redemption.    In connection with any redemption of
Securities, the Issuer shall deposit the amount due in connection with such redemption as required by Section 11.02 or it may arrange for the purchase and conversion of any Securities called
for redemption by an agreement with one or more investment bankers or other purchasers to purchase such Securities and to make the deposit required of it by Section 11.02 on its behalf by
paying to the Trustee or the Paying Agent in trust for the Securityholders, on or before 10:00 a.m. New York time on the redemption date, an amount no less than the redemption price, together
with interest, if any, accrued to the redemption date of such Securities, in immediately available funds. Notwithstanding anytime to the contrary contained in this Article 11, the obligation of
the Issuer to pay the redemption price of such Securities, including all accrued interest, if any, shall be deemed to be satisfied and discharged to the extent such amount is so paid by such
purchasers. If such an agreement is entered into, any Securities not duly surrendered for conversion by the Holders thereof may, at the option of the Issuer, be deemed, to the fullest extent permitted
by law, acquired by such purchasers from such Holders and (notwithstanding anything to the contrary contained in Article 12) surrendered by such purchasers for conversion, all as of immediately
prior to the close of business on the last day on which Securities of such series called for redemption may be converted in accordance with this Indenture and the terms of such Securities, subject to
payment of the above amount aforesaid. The Trustee or the Paying Agent shall hold and pay to the Securityholders whose Securities are selected for redemption any such amount paid to it in the same
manner as it would monies deposited with it by the Issuer for the redemption of Securities. Without the Trustee's and the Paying Agent's prior written consent, no arrangement between the Issuer and
such purchasers for the purchase and conversion of any Securities shall increase or otherwise affect any of the powers, duties, responsibilities or obligations of the Trustee as set forth in this
Indenture, and the Issuer agrees to indemnify the Trustee from, and hold it harmless against, any loss, liability or expense arising out of or in connection with any such arrangement for the purchase
and conversion of any Securities between the Issuer and such purchasers, including the costs and expenses incurred by the Trustee and the Paying Agent in the defense of any claim or liability arising
out of or in connection with the exercise or performance of any of its powers, duties, responsibilities or obligations under this Indenture. 

40

 

 
 

ARTICLE 12
  CONVERSION OF SECURITIES

        Section 12.01.    Applicability of Article.    Securities of any series which are convertible into Capital
Stock at the option of the Securityholder shall be convertible in accordance with their terms and (unless otherwise specified as contemplated by Section 2.03 for Securities of any series) in
accordance with this Article. Each reference in this Article 12 to "a Security" or "the Securities" refers to the Securities of the particular series that is convertible into Capital Stock.
Each reference in this Article to "Capital Stock" into which Securities of any series are convertible refers to the class of Capital Stock into which the Securities of such series are convertible in
accordance with their terms (as specified as contemplated by Section 2.03). If more than one series of Securities with conversion privileges are outstanding at any time, the provisions of this
Article 12 shall be applied separately to each such series. 

        Section 12.02.    Right of Securityholders to Convert Securities.    Subject to and upon compliance with the
terms of the Securities and the provisions of Section 11.05 and this Article 12, at the option of the Holder thereof, any Security of any series of any authorized denomination, or any
portion of the Principal amount thereof which is $1,000 or any integral multiple of $1,000, may, at any time during the period specified in the Securities of such series, or in case such Security or
portion thereof shall have been called for redemption, then in respect of such Security or portion thereof until and including, but not after (unless the Issuer shall default in payment due upon the
redemption thereof) the close of business on the Business Day prior to the date fixed for redemption except that in the case of redemption at the option of the Securityholder, if specified in the
terms of such Securities, such right shall terminate upon receipt of written notice of the exercise of such option, be converted into duly authorized, validly issued, fully paid and nonassessable
shares of Capital Stock, as specified in such Security, at the conversion rate for each $1,000 Principal amount of Securities (such initial conversion rate reflecting an initial conversion price
specified in such Security) in effect on the conversion date, or, in case an adjustment in the conversion rate has taken place pursuant to the provisions of Section 12.05, then at the
applicable conversion rate as so adjusted, upon surrender of the Security or Securities, the Principal amount of which is so to be converted, to the Issuer at any time during usual business hours at
the office or agency to be maintained by it in accordance with the provisions of Section 3.02, accompanied by a written notice of election to convert as provided in Section 12.03 and, if
so required by the Issuer and the Trustee, by a written instrument or instruments of transfer in form satisfactory to the Issuer and the Trustee duly executed by the registered Holder or his attorney
duly authorized in writing. All Securities surrendered for conversion shall, if surrendered to the Issuer or any conversion agent, be delivered to the Trustee for cancellation and cancelled by it, or
shall, if surrendered to the Trustee, be cancelled by it, as provided in Section 2.10. 

        The
initial conversion price or conversion rate in respect of a series of Securities shall be as specified in the Securities of such series. The conversion price or conversion rate will
be subject to adjustment on the terms set forth in Section 12.05 or such other or different terms, if any, as may be specified by Section 2.03 for Securities of such series. Provisions
of this Indenture that apply to conversion of all of a Security also apply to conversion of a portion of it. 

        Section 12.03.    Issuance of Shares of Capital Stock on Conversion.    As promptly as practicable after the
surrender, as herein provided, of any Security or Securities for conversion, the Issuer shall deliver or cause to be delivered at its said office or agency to or upon the written order of the Holder
of the Security or Securities so surrendered a certificate or certificates representing the number of duly authorized, validly issued, fully paid and nonassessable shares of Capital Stock into which
such Security or Securities may be converted in accordance with the terms thereof and the provisions of this Article 12. Prior to delivery of such certificate or certificates, the Issuer shall
require a written notice at its said office or agency from the Holder of the Security or Securities so surrendered stating that the Holder irrevocably elects to convert such Security or Securities,
or, if less than the entire Principal amount thereof is to be converted, stating the portion thereof to be converted. Such notice shall also 

41

 

state
the name or names (with address and social security or other taxpayer identification number) in which said certificate or certificates are to be issued. Such conversion shall be deemed to have
been made at the time that such Security or Securities shall have been surrendered for conversion and such notice shall have been received by the Issuer or the Trustee, the rights of the Holder of
such Security or Securities as a Securityholder shall cease at such time, the person or persons entitled to receive the shares of Capital Stock upon conversion of such Security or Securities shall be
treated for all purposes as having become the record holder or holders of such shares of Capital Stock at such time and such conversion shall be at the conversion rate in effect at such time. In the
case of any Security of any series which is converted in part only, upon such conversion, the Issuer shall execute and the Trustee shall authenticate and deliver to the Holder thereof, as requested by
such Holder, a new Security or Securities of such series of authorized denominations in aggregate Principal amount equal to the unconverted portion of such Security. 

        If
the last day on which a Security may be converted is not a Business Day in a place where a conversion agent is located, the Security may be surrendered to that conversion agent on the
next succeeding day that is a Business Day. 

        The
Issuer will not be required to deliver certificates for shares of Capital Stock upon conversion while its stock transfer books are closed for a meeting of shareholders or for the
payment of dividends or for any other purpose, but certificates for shares of Capital Stock shall be delivered as soon as the stock transfer books shall again be opened. 

        Section 12.04.    No Payment or Adjustment for Interest or Dividends.    Unless otherwise specified as
contemplated by Section 2.03 for Securities of such series, Securities surrendered for conversion during the period from the close of business on any regular record date (or special record date
for payment of defaulted interest) next preceding any interest payment date to the opening of business on such interest payment date (except Securities called for redemption on a redemption date
within such period) when surrendered for conversion must be accompanied by payment of an amount equal to the interest thereon which the registered Holder is to receive on such interest payment date.
Payment of interest shall be made, as of such interest payment date or such date, as the case may be, to the Holder of record of the Securities as of such regular, or special record date, as
applicable. Except where Securities surrendered for conversion must be accompanied by payment as described above, no interest
on converted Securities will be payable by the Issuer on any interest payment date subsequent to the date of conversion. No other payment or adjustment for interest or dividends is to be made upon
conversion. Notwithstanding the foregoing, upon conversion of any Original Issue Discount Security, the fixed number of shares of Capital Stock into which such Security is convertible delivered by the
Issuer to the Holder thereof shall be applied, first, to pay the accrued original issue discount attributable to the period from the date of issuance to the date of conversion of such Security, and,
second, to pay the balance of the Principal amount of such Security. 

        Section 12.05.    Adjustment of Conversion Rate.    Unless otherwise specified as contemplated by
Section 2.03 for Securities of such series, the conversion rate for Securities in effect at any time shall be subject to adjustment as follows: 

        (a)   In
case the Issuer shall (i) declare a dividend or make a distribution on the class of Capital Stock into which Securities of such series are convertible in
shares of its Capital Stock, (ii) subdivide the outstanding shares of the class of Capital Stock into which Securities of such series are convertible into a greater number of shares,
(iii) combine the outstanding shares of the class of Capital Stock into which Securities of such series are convertible into a smaller number of shares or (iv) issue by reclassification
of the shares of the class of Capital Stock into which Securities of such series are convertible (including any such reclassification in connection with a consolidation or merger in which the Issuer
is the continuing corporation) any shares, the conversion rate for the Securities of such series in effect at the time of the record date for such dividend or distribution, or the effective date of
such 

42

 

subdivision,
combination or reclassification, shall be proportionately adjusted so that the Holder of any Security of such series surrendered for conversion after such time shall be entitled to
receive the number and kind of shares which he would have owned or have been entitled to receive had such Security been converted immediately prior to such time. Similar adjustments shall be made
whenever any event listed above shall occur. 

        (b)   In
case the Issuer shall fix a record date for the issuance of rights or warrants to all holders of the class of Capital Stock into which Securities of such series are
convertible entitling them (for a period expiring within 45 days after such record date) to subscribe for or purchase shares of such class of Capital Stock (or securities convertible into
shares of such class of Capital Stock) at a price per share (or, in the case of a right or warrant to purchase securities convertible into such class of Capital Stock, having a conversion price per
share, after adding thereto the exercise price, computed on the basis of the maximum number of shares of such class of Capital Stock issuable upon conversion of such convertible securities, per share
of such class of Capital Stock, so issuable) less than the current market price per share of such class of Capital Stock (as defined in subsection (e) below) on the date on which such issuance
was declared or otherwise announced by the Issuer (the "Determination Date"), the number of shares of such class of Capital Stock into which each $1,000 Principal amount of Securities shall be
convertible after such record date shall be determined by multiplying the number of shares of such class of Capital Stock into which such Principal amount of Securities was convertible immediately
prior to such record date by a fraction, of which the numerator shall be the number of shares of such class of Capital Stock outstanding on the Determination Date plus the number of additional shares
of such class of Capital Stock offered for subscription or purchase (or in the case of a right or warrant to purchase securities convertible into such class of Capital Stock, the aggregate number of
additional shares of such class of Capital Stock into which the convertible securities so offered are initially convertible), and of which the denominator shall be the number of shares of such class
of Capital Stock outstanding on the Determination Date plus the number of shares of such class of Capital Stock obtained by dividing the aggregate offering price of the total number of shares so
offered (or, in the case of a right or warrant to purchase securities convertible into such class of Capital Stock, the aggregate initial conversion price of the convertible securities so offered,
after adding thereto the aggregate exercise price of such rights or warrants computed on the basis of the maximum number of shares of such class of Capital Stock issuable upon conversion of such
convertible securities) by such current market price. Shares of such class of Capital Stock of the Issuer owned by or held for the account of the Issuer shall not be deemed outstanding for the purpose
of any such computation. Such adjustment shall be made successively whenever such a record date is fixed; and to the extent that shares of such class of Capital Stock are not delivered (or securities
convertible into shares of such class of Capital Stock are not delivered) after the expiration of such rights or warrants (or, in the case of rights or warrants to purchase securities convertible into
such class of Capital Stock once exercised, the expiration of the conversion right of such securities) the conversion rate shall be readjusted to the conversion rate which would then be in effect had
the adjustments made upon the issuance of such rights or warrants (or securities convertible into shares) been made upon the basis of delivery of only the number of shares actually delivered. In the
event that such rights or warrants are not so issued, the conversion rate shall again be adjusted to be the conversion rate which would then be in effect if such record date had not been fixed. 

        (c)   In
case the Issuer shall fix a record date for the making of a distribution to all holders of the class of Capital Stock into which Securities of such series are
convertible (including any such distribution made in connection with a consolidation or merger in which the Issuer is the continuing corporation) of evidences of its indebtedness or assets (excluding
any cash dividends paid from retained earnings and dividends payable in Capital Stock for which adjustment is made pursuant to subsection (a) above or (d) below) or subscription rights
or warrants (excluding subscription rights or warrants to purchase the class of Capital Stock into which Securities of such series are convertible), the number of shares of such class of Capital Stock
into which each $1,000 Principal amount of Securities of such 

43

 

series
shall be convertible after such record date shall be determined by multiplying the number of shares of such class of Capital Stock into which such Principal amount of Securities was convertible
immediately prior to such record date by a fraction, of which the numerator shall be the fair market value of the assets of the Issuer, after deducting therefrom all liabilities of the Issuer and all
preferences (including accrued but unpaid dividends) in respect of classes of Capital Stock having a preference with respect to the assets of the Issuer over such class of Capital Stock (all as
determined by the Board of Directors, whose determination shall be conclusive, and described in a certificate signed by chairman of the Issuer's Board of Directors, its president, any vice president,
its treasurer, any assistant treasurer, its secretary or any assistant secretary, filed with the Trustee and each conversion agent) on such record date, and of which the denominator shall be such fair
market value after deducting therefrom such liabilities and preferences, less the fair market value (as determined by the Board of Directors, whose determination shall be conclusive, and described in
a statement filed with the Trustee and each conversion agent) of the assets or evidences of indebtedness, so distributed or of such subscription rights or warrants applicable, so distributed. Such
adjustment shall be made successively whenever such a record date is fixed; and in the event that such distribution is not so made, the conversion rate shall again be adjusted to the conversion rate
which would then be in effect if such record date had not been fixed. 

        (d)   In
case the Issuer shall, by dividend or otherwise, distribute to all holders of its Capital Stock cash (excluding any dividend or distribution in connection with the
liquidation, dissolution or winding up of the Issuer, whether voluntary or involuntary), then, in such case, unless the Issuer elects to reserve such cash for distribution to the Holders of the
Securities upon the conversion of the Securities so that any such Holder converting Securities will receive upon such conversion, in addition to the shares of Capital Stock to which such Holder is
entitled, the amount of cash which such Holder would have received if such Holder had, immediately prior to the record date for such distribution of cash, converted its Securities into Capital Stock,
the conversion rate shall be adjusted so that the same shall equal the rate determined by multiplying the conversion rate in effect immediately prior to the record date by a fraction of which the
denominator shall be the current market price of the Capital Stock (determined as provided in Section 12.05(e)) on the record date less the amount of cash so distributed (and not excluded as
provided above) applicable to one share of Capital Stock and the numerator shall be such current market price of the Capital Stock (determined as provided in Section 12.05(e)), such adjustment
to be effective immediately prior to the opening of business on the day following the record date; provided, however, that in the event the portion of
the cash so distributed applicable to one share of Capital Stock is equal to or greater than the current market price of the Capital Stock (determined as provided in Section 12.05(e)) on the
record date, in lieu of the foregoing adjustment, adequate provision shall be made so that each Securityholder shall have the right to receive upon conversion the amount of cash such Holder would have
received had such Holder converted each Security on the record date. If such dividend or distribution is not so paid or made, the conversion rate shall again be adjusted to be the conversion rate
which would then be in effect if such dividend or distribution had not been declared. 

        (e)   For
the purpose of any computation under subsections (b) and (d) above and Section 12.06, the current market price per share of the Capital Stock on any
date as of which such price is to be computed shall mean the average of the Closing Prices for the 30 consecutive Business Days commencing 45 Business Days before such date. 

        (f)    No
adjustment in the conversion rate shall be required unless such adjustment would require a cumulative increase or decrease of at least 1% in such rate;  provided, however, that any adjustments which by
reason of this subsection (f) are not required to be made shall be carried forward and taken
into account in any subsequent adjustment; and provided further, that adjustments shall be required and made in accordance with the provisions of this
Article 12 (other than this subsection (f)) not later than such time as may be required in order to preserve the tax-free nature of a distribution for United 

44

 

States
income tax purposes to the Holders of Securities or the class of Capital Stock into which such Securities are convertible. All calculations under this Article 12 shall be made to the
nearest cent or to the nearest one-thousandth of a share, as the case may be. Anything in this Section 12.05 to the contrary notwithstanding, the Issuer shall be entitled to make
such adjustments in the conversion rate, in addition to those required by this Section 12.05, as it in its discretion shall determine to be advisable in order that any stock dividend,
subdivision of shares, distribution of rights to purchase stock or securities, or distribution of securities convertible into or exchangeable for stock hereafter made by the Issuer to its shareholders
shall not be taxable for United States income tax purposes. 

        (g)   Whenever
the conversion rate is adjusted, as herein provided, the Issuer shall promptly file with the Trustee and with the office or agency maintained by the Issuer for
the conversion of Securities of such series pursuant to Section 3.02, a certificate of a firm of independent public accountants of recognized national standing selected by the Board of
Directors (who may be the regular accountants employed by the Issuer) setting forth the conversion rate after such adjustment and setting forth a brief statement of the facts requiring such adjustment
and a computation thereof. Such certificate shall be conclusive evidence of the correctness of such adjustment. Neither the Trustee nor any conversion agent shall be under any duty or responsibility
with respect to any such certificate or any facts or computations set forth therein, except to exhibit said certificate from time to time to any Securityholder of such series desiring to inspect the
same. The Issuer shall promptly cause a notice setting forth the adjusted conversion rate to be mailed to the Holders of Securities of such series, as their names and addresses appear upon the
register of the Issuer. 

        (h)   In
the event that at any time, as a result of shares of any other class of Capital Stock becoming issuable in exchange or substitution for or in lieu of shares of the
class of Capital Stock into which such Securities are convertible or as a result of an adjustment made pursuant to subsection (a) above, the Holder of any Security of such series thereafter
surrendered for conversion shall become entitled to receive any shares of the Issuer other than shares of the class of Capital Stock into which the Issuer of such series are convertible, thereafter
the number of such other shares so receivable upon conversion of any Security shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the
provisions with respect to the class of Capital Stock into which the Securities of such series are convertible contained in subsections (a) to (f), inclusive, above, and the provisions of this
Article 12 with respect to the class of Capital Stock into which the Securities of such series are convertible shall apply on like terms to any such other shares. 

        (i)    The
conversion rate with respect to any Original Issue Discount Security, the terms of which provide for convertibility, shall not be adjusted during the term of such
Original Issue Discount Security for accrued original issue discount. 

        (j)    In
the event that the Securities of any series are convertible into more than one class of Capital Stock, the provisions of this Section 12.05 shall apply
separately to events affecting each such class. 

        Section 12.06.    No Fractional Shares to Be Issued.    No fractional shares of Capital Stock shall be issued
upon conversions of Securities. If more than one Security of any series shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be issuable upon
conversion thereof shall be computed on the basis of the aggregate Principal amount of the Securities of such series (or specified portions thereof to the extent permitted hereby) so surrendered.
Instead of a fraction of a share of Capital Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Issuer shall pay a cash
adjustment in respect of such fraction of a share in an amount equal to the same fractional interest of the current market price (as defined in Section 12.05) per share of Capital Stock on the
Business Day next preceding the day of conversion. 

45

   
        Section 12.07.    Preservation of Conversion Rights Upon Consolidation, Merger, Sale or Conveyance.    In case
of any consolidation of the Issuer with, or merger of the Issuer into, any other corporation (other than a consolidation or merger in which the Issuer is the continuing corporation), or in the case of
any sale or transfer of all or substantially all of the assets of the Issuer, the corporation formed by such consolidation or the corporation into which the Issuer shall have been merged or the
corporation which shall have acquired such assets, as the case may be, shall execute and deliver to the Trustee, a supplemental indenture, subject to the provisions of Articles 7 and 8 as they relate
to supplemental indentures, providing that the Holder of each Security then Outstanding of a series which was convertible into Capital Stock shall have the right thereafter to convert such Security
into the kind and amount of shares of stock and other securities and property, including cash, receivable upon such consolidation, merger, sale or transfer by a holder of the number of shares of
Capital Stock of the Issuer into which such Securities might have been converted immediately prior to such consolidation, merger, sale or transfer. Such supplemental indenture shall conform to the
provisions of the Trust Indenture Act of 1939 as then in effect and shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this
Article 12. Neither the Trustee nor any conversion agent shall be under any responsibility to determine the correctness of any provision contained in any such supplemental indenture relating
either to the kind or amount of shares of stock or other securities or property receivable by Securityholders upon the conversion of their Securities after any such consolidation, merger, sale or
transfer, or to any adjustment to be made with respect there to and, subject to the provisions of Article 5, may accept as conclusive evidence of the correctness of any such provisions, and
shall be protected in relying upon, an Opinion of Counsel with respect thereto. If in the case of any such consolidation, merger, sale or transfer, the stock or other securities and property
receivable by a Holder of the Securities includes stock or other securities and property of a corporation other than the successor or purchasing corporation, then such supplemental indenture shall
also be executed by such other corporation and shall contain such additional provisions to protect the interests of the Holders of the Securities as the Board of Directors shall reasonably consider
necessary. The above provisions of this Section 12.07 shall similarly apply to successive consolidations, mergers, sales or transfers. 

        Section 12.08.    Notice to Security Holders of a Series Prior to Taking Certain Types of Action.    With
respect to the Securities of any series, in case: 

        (a)   the
Issuer shall authorize the issuance to all holders of the class of Capital Stock into which Securities of such series are convertible of rights or warrants to
subscribe for or purchase shares of its Capital Stock or of any other right; 

        (b)   the
Issuer shall authorize the distribution to all holders of the class of Capital Stock into which Securities of such series are convertible of evidences of its
indebtedness or assets (except for the exclusions with respect to certain dividends set forth in Section 12.05(c)); 

        (c)   of
any subdivision, combination or reclassification of the class of Capital Stock into which Securities of such series are convertible or of any consolidation or merger
to which the Issuer is a party and for which approval by the shareholders of the Issuer is required, or of the sale or transfer of all or substantially all of the assets of the Issuer; or 

        (d)   of
the voluntary or involuntary dissolution, liquidation or winding up of the Issuer; 

then
the Issuer shall cause to be filed with the Trustee and at the office or agency maintained for the purpose of conversion of Securities of such series pursuant to Section 3.02, and shall
cause to be mailed to the Holders of Securities of such series, at their last addresses as they shall appear upon the register of the Issuer, at least 10 days prior to the applicable record
date hereinafter specified, a notice stating (i) the date as of which the holders of such class of Capital Stock to be entitled to receive any 

46

 

such
rights, warrants or distribution are to be determined, or (ii) the date on which any such subdivision, combination, reclassification, consolidation, merger, sale, transfer, dissolution,
liquidation, winding up or other action is expected to become effective, and the date as of which it is expected that holders of record of such class of Capital Stock shall be entitled to exchange
their Capital Stock of such class for securities or other property, if any, deliverable upon such subdivision, combination, reclassification, consolidation, merger, sale, transfer, dissolution,
liquidation, winding up or other action. The failure to give the notice required by this Section 12.08 or any defect therein shall not affect the legality or validity of any distribution,
right, warrant, subdivision, combination, reclassification, consolidation, merger, sale, transfer, dissolution, liquidation, winding up or other action, or the vote upon any of the foregoing. Such
notice shall also be published by and at the expense of the Issuer not later than the aforesaid filing date at least once in an Authorized Newspaper. 

        Section 12.09.    Covenant to Reserve Shares for Issuance on Conversion of Securities.    The Issuer covenants
that at all times it will reserve and keep available out of each class of its authorized Capital Stock, free from preemptive rights, solely for the purpose of issue upon conversion of Securities of
any series as herein provided, such number of shares of Capital Stock of such class as shall then be issuable upon the conversion of all Outstanding Securities of such series. The Issuer covenants
that an shares of Capital Stock which shall be so issuable shall, when issued or delivered, be duly and validly issued shares of the class of authorized Capital Stock into which Securities of such
series are convertible, and shall be fully paid and nonassessable, free of all liens and charges and not subject to preemptive rights and that, upon conversion, the appropriate capital stock accounts
of the Issuer will be duly credited. 

        Section 12.10.    Compliance with Governmental Requirements.    The Issuer covenants that if any shares of
Capital Stock required to be reserved for purposes of conversion of Securities hereunder require registration or listing with or approval of any governmental authority under any Federal or State law,
pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, or any national or regional securities exchange on which such Capital Stock is listed at the
time of delivery of any shares of such Capital Stock, before such shares may be issued upon conversion,
the Issuer will use reasonable efforts to cause such shares to be duly registered, listed or approved, as the case may be. 

        Section 12.11.    Payment of Taxes Upon Certificates for Shares Issued Upon Conversion.    The issuance of
certificates for shares of Capital Stock upon the conversion of Securities shall be made without charge to the converting Securityholders for any tax (including, without limitation, all documentary
and stamp taxes) in respect of the issuance and delivery of such certificates, and such certificates shall be issued in the respective names of, or in such names as may be directed by, the Holders of
the Securities converted; provided, however, that the Issuer shall not be required to pay any tax which may be payable in respect of any transfer
involved in the issuance and delivery of any such certificate in a name other than that of the Holder of the Security converted, and the Issuer shall not be required to issue or deliver such
certificates unless or until the person or persons requesting the issuance thereof shall have paid to the Issuer the amount of such tax or shall have established to the satisfaction of the Issuer that
such tax has been paid. 

        Section 12.12.    Trustee's Duties with Respect to Conversion Provisions.    The Trustee and any conversion
agent shall not at any time be under any duty or responsibility to any Securityholder to determine whether any facts exist which may require any adjustment of the conversion rate or conversion price,
or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, or herein or in any supplemental indenture provided to be employed, in making the
same. Neither the Trustee nor any conversion agent shall be accountable with respect to the registration under securities laws, listing, validity or value (or the kind or amount) of any shares of
Capital Stock, or of any other securities or property, which may at any time be issued or delivered upon the conversion of any Security; and neither the Trustee nor any conversion agent makes any 

47

 

representation
with respect thereto. Neither the Trustee nor any conversion agent shall be responsible for any failure of the Issuer to make any cash payment or to issue, transfer or deliver any
shares of stock or stock certificates or other securities or property upon the surrender of any Security for the purpose of conversion; and the Trustee, subject to the provisions of Article 5,
and any conversion agent shall not be responsible for any failure of the Issuer to comply with any of the covenants of the Issuer contained in this Article 12. 

48

 

        IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, and their respective corporate seals to be hereunto affixed and attested, all as of the first date
written above. 

	 	 	 	FORMFACTOR, INC., as Issuer
	

 	

 	
 	

By:	

    
 Name:

Title:
	

[CORPORATE SEAL]	
 	

 	

 
	

Attest:	
 	

 	

 
	

By:	

    
	
 	

 	

 
	

 	

 	
 	

•    , as Trustee
	

 	

 	
 	

By:	

    
 Name:

Title:
	

[CORPORATE SEAL]	
 	

 	

 
	

Attest:	
 	

 	

 
	

By:	

    
	
 	

 	

 

49

 
 

FORM OF NOTE    
    

UNLESS
AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE
DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY. UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

 
 
 

FORMFACTOR, INC.
    •    % Note Due    •      
    

	No. •	 	CUSIP No.: •

$•

        FORMFACTOR, INC.,
a Delaware corporation ("Issuer", which term includes any successor corporation), for value received promises to
pay to CEDE & CO. or its registered assigns, the principal sum of    •    on    •    . 

        Interest
Payment Dates:    •    and    •    (each, an "Interest Payment
Date"), commencing on    •    . 

        Interest
Record Dates:    •    and    •    (each, an "Interest Record
Date"). 

        Reference
is made to the further provisions of this Security contained herein, which will for all purposes have the same effect as if set forth at this place. 

2

 

        IN
WITNESS WHEREOF, the Issuer has caused this Security to be signed manually or by facsimile by its duly authorized officer under its corporate seal. 

	 	 	 	FORMFACTOR, INC.
	

 	

 	
 	

By:	

    
 Name:

Title:
	

Attest:	
 	

 	

 
	

By:	

    
 Name:

Title:	
 	

 	

 

3

 

        This
is one of the series designated herein and referred to in the within-mentioned Indenture. 

	Dated: •	 	•,

    as Trustee
	

 	
 	

By:	

    
 Authorized Signatory

4

 
 

(REVERSE OF SECURITY)
  
  FORMFACTOR, INC.
  
    •    % Note Due    •      
    

        1.     Interest.

        FORMFACTOR, INC.,
a Delaware corporation (the "Issuer"), promises to pay interest on the Principal amount of this Security at the
rate per annum shown above. Cash interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from
    •    . The Issuer will pay interest semi-annually in arrears on each Interest Payment Date, commencing    •    .
Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

        The
Issuer shall pay interest on overdue Principal from time to time on demand at the rate borne by the Securities and on overdue installments of interest (without regard to any
applicable grace periods) to the extent lawful. 

        2.     Method
of Payment. 

        The
Issuer shall pay interest on the Securities (except defaulted interest) to the persons who are the registered Holders at the close of business on the Interest Record Date immediately
preceding the Interest Payment Date notwithstanding any transfer or exchange of such Security subsequent to such Interest Record Date and prior to such Interest Payment Date. Holders must surrender
Securities to the Trustee to collect Principal payments. The Issuer shall pay Principal and interest in money of the United States that at the time of payment is legal tender for payment of public and
private debts ("U.S. Legal Tender"). However, the payments of interest, and any portion of the Principal (other than interest payable at maturity or on
any redemption or repayment date or the final payment of Principal) shall be made by the Paying Agent, upon receipt from the Issuer of immediately available funds by 11:00 a.m., New York City
time (or such other time as may be agreed to between the Issuer and the Paying Agent or the Issuer), directly to a Holder (by Federal funds wire transfer or otherwise) if the Holder has delivered
written instructions to the Trustee 15 days prior to such payment date requesting that such payment will be so made and designating the bank account to which such payments shall be so made and
in the case of payments of Principal surrenders the same to the Trustee in exchange for a Security or Securities aggregating the same principal amount as the unredeemed Principal amount of the
Securities surrendered. 

        3.     Paying
Agent. 

        Initially,    •    (the
"Trustee") will act as Paying Agent. The Issuer may change any Paying Agent
without notice to the Holders. 

        4.     Indenture.

        The
Issuer issued the Securities under an Indenture, dated as of    •    (the "Indenture"), between the
Issuer and the Trustee. Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The terms of the Securities include those stated in the Indenture and those made
part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the "TIA"), as in effect on the
date of the Indenture until such time as the Indenture is qualified under the TIA, and thereafter as in effect on the date on which the Indenture is qualified under the TIA. Notwithstanding anything
to the contrary herein, the Securities are subject to all such terms, and Holders of Securities are referred to the Indenture and the TIA for a statement of them. To the extent the terms of the
Indenture and this Security are inconsistent, the terms of the Indenture shall govern. 

        5.     Denominations;
Transfer; Exchange. 

        The
Securities are in registered form, without coupons, in denominations of $1,000 and multiples of $1,000. A Holder shall register the transfer of or exchange Securities in accordance
with the Indenture. The Issuer may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges
payable in 

 

connection
therewith as permitted by the Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any Securities or portions thereof for a period of fifteen
(15) days before such series is selected for redemption, nor need the Issuer register the transfer or exchange of any security selected for redemption in whole or in part. 

        6.     Persons
Deemed Owners. 

        The
registered Holder of a Security shall be treated as the owner of it for all purposes. 

        7.     Unclaimed
Funds. 

        If
funds for the payment of Principal or interest remain unclaimed for two years, the Trustee and the Paying Agent will repay the funds to the Issuer at its written request. After that,
all liability of the Trustee and such Paying Agent with respect to such funds shall cease. 

        8.     Legal
Defeasance and Covenant Defeasance. 

        The
Issuer may be discharged from its obligations under the Securities and under the Indenture with respect to the Securities except for certain provisions thereof, and may be discharged
from obligations to comply with certain covenants contained in the Securities and in the Indenture with respect to the Securities, in each case upon satisfaction of certain conditions specified in the
Indenture. 

        9.     Amendment;
Supplement; Waiver. 

        Subject
to certain exceptions, the Securities and the provisions of the Indenture relating to the Securities may be amended or supplemented with the written consent of the Holders of at
least a majority in aggregate Principal amount of the Securities then outstanding, and any existing Default or Event of Default or compliance with certain provisions may be waived with the consent of
the Holders of a majority in aggregate Principal amount of the Securities then outstanding. Without notice to or consent of any Holder, the parties thereto may amend or supplement the Indenture and
the Securities to, among other things, cure any ambiguity, defect or inconsistency, provide for uncertificated Securities in addition to or in place of certificated Securities or comply with any
requirements of the Commission in connection with the qualification of the Indenture under the Trust Indenture Act, or make any other change that does not adversely affect the rights of any Holder of
a Security. 

        10.   Defaults
and Remedies. 

        If
an Event of Default (other than certain bankruptcy Events of Default with respect to the Issuer) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate
Principal amount of Securities then outstanding may declare all of the Securities to be due and payable immediately in the manner and with the effect provided in the Indenture. If a bankruptcy Event
of Default with respect to the Issuer occurs and is continuing, all the Securities shall be immediately due and payable immediately in the manner and with the effect provided in the Indenture without
any notice or other action on the part of the Trustee or any Holder. Holders of Securities may not enforce the Indenture or the
Securities except as provided in the Indenture. The Trustee is not obligated to enforce the Indenture or the Securities unless it has received indemnity satisfactory to it. The Indenture permits,
subject to certain limitations therein provided, Holders of a majority in aggregate Principal amount of the Securities then outstanding to direct the Trustee in its exercise of any trust or power. The
Trustee may withhold from Holders of Securities notice of certain continuing Defaults or Events of Default if it determines that withholding notice is in their interest. 

        11.   Conversion. 

        Reference
is made to the Indenture, including, without limitation, provisions giving the Holder of this Security the right to convert this Security into Capital Stock of the Issuer on
the terms and subject to the limitations as more fully specified in the Indenture. The initial conversion rate for this Security is 

2

 

    •    .
This conversion rate is subject to modification as provided in the Indenture. Such further provisions shall for all purposes have the same effect as though
fully set forth at this place. 

        12.   Trustee
Dealings with Issuer. 

        The
Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with the Issuer as if it were not the
Trustee. 

        13.   No
Recourse Against Others. 

        No
stockholder, director, officer, employee or incorporator, as such, of the Issuer or any successor Person thereof shall have any liability for any obligation under the Securities or
the Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation. Each Holder of a Security by accepting a Security waives and releases all such liability.
The waiver and release are part of the consideration for the issuance of the Securities. 

        14.   Authentication.

        This
Security shall not be valid until the Trustee manually signs the certificate of authentication on this Security. 

        15.   Abbreviations
and Defined Terms. 

        Customary
abbreviations may be used in the name of a Holder of a Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties),
JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

        16.   CUSIP
Numbers. 

        Pursuant
to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Securities as a
convenience to the Holders of the Securities. No representation is made as to the accuracy of such numbers as printed on the Securities and reliance may be placed only on the other identification
numbers printed hereon. 

        17.   Governing
Law. 

        The
laws of the State of New York shall govern the Indenture and this Security thereof. 

3

 
 
 

ASSIGNMENT FORM    
    

I
or we assign and transfer this Security to 

	
 (Print or type name, address and zip code of assignee or transferee)
	

 (Insert Social Security or other identifying number of assignee or transferee)
	

and irrevocably appoint                          agent to transfer this Security on the books of the Issuer. The agent may
substitute another to act for him.

	

Dated:	

    
	
 	

Signed:	
    
 (Signed exactly as name appears on the other side of this Security)	

 

	Signature Guarantee:	 	    
 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)	 

4

QuickLinks

Exhibit 4.3

FORMFACTOR, INC., as Issuer and • , as Trustee INDENTURE Dated as of •

Debt Securities

TABLE OF CONTENTS

ARTICLE 1 DEFINITIONS

ARTICLE 2 SECURITIES

ARTICLE 3 COVENANTS OF THE ISSUER AND THE TRUSTEE

ARTICLE 4 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

ARTICLE 5 CONCERNING THE TRUSTEE

ARTICLE 6 CONCERNING THE SECURITYHOLDERS

ARTICLE 7 SUPPLEMENTAL INDENTURES

ARTICLE 8 CONSOLIDATION, MERGER, SALE OR CONVEYANCE

ARTICLE 9 DISCHARGE OF INDENTURE

ARTICLE 10 MISCELLANEOUS PROVISIONS

ARTICLE 11 REDEMPTION OF SECURITIES

ARTICLE 12 CONVERSION OF SECURITIES

FORM OF NOTE

FORMFACTOR, INC. • % Note Due •

(REVERSE OF SECURITY) FORMFACTOR, INC. • % Note Due •

ASSIGNMENT FORM

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