Document:

Exhibit 10.1

    

     

      

    
      WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION

       

      2011 STOCK INCENTIVE PLAN

       

      (as amended and restated effective March 31, 2022)

      

      

      SECTION 1

      Purpose; Definitions

       

      	1.1	
              Purpose. The purposes of the 2011 Stock Incentive Plan, as amended and restated effective March
                  31, 2022 (the “Plan”), are to encourage eligible employees of Westinghouse Air Brake Technologies Corporation (the “Corporation”) and its Subsidiaries to increase their efforts to make the Corporation and each Subsidiary more successful,
                  to provide an additional inducement for such employees to remain with the Corporation or a Subsidiary, to reward such employees by providing an opportunity to acquire shares of Common Stock on favorable terms and to provide a means
                  through which the Corporation may attract able persons to enter the employ of the Corporation or one of its Subsidiaries.

            

       

      	1.2	
              Certain Definitions. In addition to terms defined herein in a place where they are used, the
                  following terms are defined as set forth below:

            

       

      	

            	(a)	
              “Award” means a stock  option, a stock appreciation right, restricted stock, restricted  stock  units, performance units or other stock-based award granted under the Plan.

            

       

      	

            	(b)	
              “Base Price” shall have the meaning set forth in Section 5.3.

            

       

      	

            	(c)	
              “Common Stock” shall mean the Common Stock, par value $0.01 per share, of the Corporation.

            

       

      	

            	(d)	
              “Fair Market Value” with respect to a share of the Common Stock shall mean the mean between the following prices, as applicable, for the date as of which Fair Market Value is to be determined as quoted in such reliable publication as the
                Committee, in its sole discretion, may determine to rely upon: (i) if the Common Stock is listed on the New York Stock Exchange, the highest and lowest sales prices per share of the Common Stock as quoted in the NYSE-Composite Transactions
                listing for such date, (ii) if the Common Stock is not listed on such exchange, the highest and lowest sales prices per share of Common Stock for such date on (or on any composite index including) the NASDAQ Exchange or the principal United
                States of America securities exchange registered under the Securities Exchange Act of 1934, as amended (the “1934 Act”) on which the Common Stock is listed. If there are no such sale price quotations for the date as of which Fair Market
                Value is to be determined but there are such sale price quotations within a reasonable period both before and after such date, then Fair Market Value shall be determined by taking a weighted average of the means between the highest and
                lowest sales prices per share of the Common Stock as so quoted on the nearest date before and the nearest date after the date as of which Fair Market Value is to be determined. The average should be weighted inversely by the respective
                numbers of trading days between the selling dates and the date as of which Fair Market Value is to be determined. If there are no such sale price quotations on or within a reasonable period both before and after the date as of which Fair
                Market Value is to be determined, then Fair Market Value of the Common Stock shall be the weighted average of the means between such bona fide bid and asked prices on the nearest trading date before and the nearest trading date after the
                date as of which Fair Market Value is to be determined, if both such dates are within a reasonable period. The average is to be determined in the manner described above in this definition. If the Fair Market Value of the Common Stock cannot
                be determined on the basis previously set forth in this definition on the date as of which Fair Market Value is to be determined, the Committee shall in good faith and in conformance with the requirements of Section 409A of the Code, to the
                extent applicable to an Award, determine the Fair Market Value of the Common Stock on such date. Fair Market Value shall be determined without regard to any restriction other than a restriction which, by its terms, will never lapse.

            

       

      
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            	(e)	
              “Free-Standing SARs” shall have the meaning set forth in Section 5.2.

            

       

      	

            	(f)	
              “Participant” means an eligible employee selected by the Committee who has received an Award under the Plan and any transferee or transferees of such employee to the extent the transfer is permitted under the Plan.

            

       

      	

            	(g)	
              “Performance Goals” means the performance goals, if any, established by the Committee in connection with the grant of restricted stock, restricted stock units, performance units or other Awards. In the case of Qualified Performance-Based
                Awards, the “Performance Goals” means such performance goals based on one or more of the following: (i) cash flow; (ii) earnings per share; (iii) earnings or income measures (including EBIT and EBITDA)); (iv) return measures (including
                return on assets, capital, invested capital, equity, sales, or revenue); (v) total shareholder return; (vi) share price performance; (vii) revenue; (viii) profit margin; (ix) customer metrics (including customer satisfaction, customer
                retention, or customer profitability);  (x)  productivity;  (xi)  expense  targets;  (xii)  market  share;  (xiii)  cost  control  measures; (xiv) balance sheet metrics; (xv) strategic initiatives; (xvi) implementation, completion or
                attainment of measurable objectives with respect to recruitment or retention of personnel, employee satisfaction or diversity; (xvii) successful completion of, or achievement of milestones or objectives related to, financing or capital
                raising transactions, strategic acquisitions or divestitures, joint ventures, partnerships, collaborations, or other transactions; (xviii) debt levels or reduction or debt ratios; (xix) operating efficiency; (xx) working capital targets;
                (xxi) quantifiable, objective measures of individual performance relevant to the particular individual’s job responsibilities; (xxii) environmental missions improvement; (xxiii) innovation as measured by a percentage of sales from new
                products; (xxiv) safety performance; (xxv) number of accounts; or (xvi) any combination of the forgoing business criteria; provided, however, that such business criteria shall include any derivations of business criteria listed above (e.g.,
                income shall include pre-tax income, net income, or operating income). Any business criteria that are financial metrics may be determined in accordance with United States Generally Accepted Accounting Principles (“GAAP”) or may be adjusted
                when established (or to the extent permitted under Section 162(m), at any time thereafter) to include or exclude any items otherwise includable or excludable under GAAP. Performance Goals may, in the discretion of the Committee, be
                established on a Company-wide basis, or with respect to one or more business units, divisions, subsidiaries or business segments, as applicable. Performance Goals may be absolute or relative (to the performance of one or more comparable
                companies or indices or based on year- over-year growth).

            

       

      
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            	(h)	
              “Qualified Performance-Based Award” means an Award intended to qualify for the Section 162(m) Exemption, as provided in Section 12.

            

       

      	

            	(i)	
              “Subsidiary” means any corporation, partnership, joint venture, limited liability company or other entity in an unbroken chain of entities beginning with the Corporation if each of the entities other than the last entity in the unbroken
                chain owns an equity interest possessing at least fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other entities in the chain.

            

       

      	

            	(j)	
              “Tandem SARs” shall have the meaning set forth in Section 5.2.

            

       

      SECTION 2 

      

      Administration

       

      	2.1	
              Committee. The Plan shall be administered by a Committee (the “Committee”) appointed by the
                  Board of Directors of the Corporation (the “Board”) and consisting of not less than two members of the Board, who, at the time of their appointment to the Committee and at all times during their service as members of the Committee, are
                  (a) “Non-Employee Directors” as then defined under Rule 16b-3 under the 1934 Act, or any successor rule, (b) “outside directors” under Section 162(m)(4)(C) of the Internal Revenue Code of 1986 as amended (the “Code”) or any successor
                  provision, and (c) independent directors under the applicable rules of any applicable stock exchange, if the Common Stock is subject to such rules. The Committee shall have plenary authority to interpret the Plan and prescribe such rules,
                  regulations and procedures in connection with the operations of the Plan as it shall deem to be necessary and advisable for the administration of the Plan consistent with the purposes of the Plan. Without limitation of the foregoing, the
                  Committee shall have the authority, subject to the terms and conditions of the Plan:

            

       

      	

            	(a)	
              to select the employees to whom Awards may be made;

            

       

      	

            	(b)	
              to determine whether and to what extent incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, other Awards of or based upon Common Stock, or any
                combination thereof, are to be granted hereunder;

            

       

      
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            	(c)	
              to determine the number of shares of Common Stock to be covered by each Award made hereunder;

            

       

      	

            	(d)	
              to determine the terms and conditions of each Award made hereunder, based on such factors as the Committee shall determine;

            

       

      	

            	(e)	
              subject to Section 2.5, to modify, amend or adjust the terms and conditions of any Award;

            

       

      	

            	(f)	
              to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan as it shall from time to time deem advisable;

            

       

      	

            	(g)	
              to interpret the terms and provisions of the Plan and any Award under the Plan (and any agreement under Section 2.5 relating thereto);

            

       

      	

            	(h)	
              subject to Section 2.5, to accelerate the vesting or lapse of restrictions on any outstanding Award, other than a Qualified Performance-Based Award, based in each case on such considerations as the Committee in its sole discretion
                determines;

            

       

      	

            	(i)	
              to decide all other matters that must be determined in connection with an Award;

            

       

      	

            	(j)	
              to determine whether, to what extent and under what circumstances cash, shares of Common Stock and other property and other amounts payable with respect to an Award under this Plan shall be deferred either automatically or at the
                election of the employee;

            

       

      	

            	(k)	
              to establish any “blackout” period that the Committee in its sole discretion deems necessary or advisable; and

            

       

      	

            	(l)	
              to otherwise administer the Plan.

            

       

      
        	
                

                

              	
                In determining any Award to be made to any eligible employee, the Committee shall consider the position and the responsibilities of the
                  employee being considered, the nature and value to the Corporation or a Subsidiary of his or her services, his or her present and/or potential contribution to the success of the Corporation or a Subsidiary and such other factors as the
                  Committee may deem relevant. The Committee may, except to the extent prohibited by applicable law or the listing standards of the stock exchange which is the principal market for the Common Stock, allocate all or any portion of its
                  responsibilities and powers to any one or more of its members and may delegate all or any part of its responsibilities and powers to any officers of the Corporation or committee of officers of the Corporation selected by it, except with
                  respect to Awards (including Qualified Performance- Based Awards) to any covered employees as defined in Section 162(m)(3) of the Code (“Covered Employees”) or persons subject to Section 16 of the 1934 Act.

              

      

       

      	2.2	
              Committee Action. The Committee shall keep records of action taken at its meetings. A majority
                  of the Committee shall constitute a quorum at any meeting and the acts of a majority of the members present at any meeting at which a quorum is present, or acts approved in writing by all members of the Committee, shall be the acts of the
                  Committee.

            

       

      
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      	2.3	
              Committee Discretion. Any determination made by the Committee or by an appropriately delegated
                  officer pursuant to delegated authority under the provisions of the Plan with respect to any Award shall be made in the sole discretion of the Committee or such officer at the time of the Award or, unless in contravention of any express
                  term of the Plan, at any time thereafter. All decisions made by the Committee or any appropriately delegated officer pursuant to the provisions of the Plan shall be final and binding on all persons, including the Corporation and the
                  employees eligible under the Plan. No member of the Committee shall be liable for any action or determination made in good faith with respect to the Plan, any Award or Award agreement.

            

       

      	2.4	
              Cancellation; Suspension; Clawback. Any or all outstanding Awards to a Participant may, at any
                  time between the date of grant and the third anniversary of any exercise, payment or vesting of such Awards, in the Committee’s sole discretion and subject to such terms and conditions established by the Committee, be cancelled,
                  suspended, or required to be repaid to the Corporation if, to the extent permitted by applicable law, the Participant (whether during or after termination of employment with the Corporation and its Subsidiaries) (i) engages in the
                  operation or management of a business (whether as owner, partner, officer, director, employee or otherwise) which is in competition with the Corporation or any of its Subsidiaries, (ii) induces or attempts to induce any customer,
                  supplier, licensee or other individual, corporation or other business organization having a business relationship with the Corporation or any of its Subsidiaries to cease doing business with the Corporation or any of its Subsidiaries or
                  in any way interferes with the relationship between any such customer, supplier, licensee or other person and the Corporation or any of its Subsidiaries, (iii) solicits any employee of the Corporation or any of its Subsidiaries to leave
                  the employment thereof or in any way interferes with the relationship of such employee with the Corporation or any of its Subsidiaries, or (iv) makes any statements or comments, orally or in writing, of a defamatory or disparaging nature
                  regarding the Corporation or any of its Subsidiaries (including but not limited to regarding any of their respective businesses, officers, directors, personnel, products or policies), provided, however, that this sentence shall not apply
                  following the occurrence of a Section 11 Event (as defined in Section 11) unless the agreement under Section 2.5 specifically so provides. Whether a Participant has engaged in any such activities shall also be determined, in its sole
                  discretion, by the Committee, and any such determination by the Committee shall be final and binding. In addition, Awards shall be subject to the requirements of (i) Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection
                  Act (regarding recovery of erroneously awarded compensation) and any implementing rules and regulations thereunder, (ii) similar rules under the laws of any other jurisdiction, (iii) any compensation recovery policies adopted by the
                  Company to implement any such requirements or (iv) any other compensation recovery policies as may be adopted from time to time by the Company, all to the extent determined by the Committee in its discretion to be applicable to a
                  Participant.

            

       

      
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      	2.5	
              Agreements. The terms and conditions of each Award shall be set forth in a written (or
                  electronic) agreement, which shall be delivered to the Participant receiving such Award upon, or as promptly as is reasonably practicable following, the making of such Award. The effectiveness of an Award shall be subject to the agreement
                  being signed by the Corporation and the Participant receiving the Award unless otherwise provided in the agreement. Unless otherwise provided in the agreement, each agreement or amendment thereto shall be executed on behalf of the
                  Corporation by the Chief Executive Officer (if other than the President), the President or any Vice President and by the Participant. The agreement confirming a stock option shall specify whether the stock option is an incentive stock
                  option or a nonstatutory stock option. The provisions of such agreements need not be identical. Without the consent of the Participant, upon notice to the Participant thereof, the Committee may amend any Award to the Participant and the
                  corresponding agreement in any respect not materially adverse to the Participant. All other amendments to the agreement shall be in writing (including electronic amendments) and executed on behalf of the Corporation and by the
                  Participant. Any reference in the Plan to the agreement under Section 2.5 shall include any amendment to such agreement.

            

       

      SECTION 3

      Eligibility

       

      Those employees of the Corporation or any Subsidiary (including, but not limited to, Covered Employees) who share responsibility for the
        management, growth or protection of the business of the Corporation or any Subsidiary shall be eligible to receive Awards as described herein; provided, however, that incentive stock options may be granted only to employees of the Corporation and
        Subsidiaries which are its subsidiaries within the meaning of Section 424(f) of the Code.

       

      SECTION 4

      Shares Subject to the Plan

       

      	4.1	
              Number of Shares. Subject to adjustment as provided in Section 4.5, the maximum aggregate number
                  of shares of the Common Stock for which Awards may be made under the Plan shall be (i) 3,800,000 shares (after giving effect to the 2-for-1 stock split in the form of a stock dividend in June 2013), plus (ii) any shares which remained
                  available for grant under the Corporation’s 2000 Stock Incentive Plan as of the original effective date of this Plan (also after giving effect to the 2-for-1 stock split in the form of a stock dividend in June 2013), plus (iii) effective
                  as of May 10, 2017, an additional 1,000,000 shares, plus (iv) effective as of May 15, 2020 upon stockholder approval, an additional 5,200,000 shares. The maximum number of shares of Common Stock that may be granted pursuant to options
                  intended to be incentive stock options shall be 5,200,000 shares.

            

       

      	4.2	
              Individual Limits. Subject to adjustment under Section 4.5, the maximum number of each type of
                  Award (other than cash-based performance units) granted to any Participant in any calendar year shall not exceed the following number of shares of Common Stock: (i) options and stock appreciation rights: 600,000 shares; and (ii) all
                  Awards of restricted stock, restricted stock units, share-based performance units and other stock-based awards that are intended to be Qualified Performance-Based Awards: 600,000 shares. The maximum amount of cash-based performance unit
                  Awards intended to be Qualified Performance-Based Awards granted to any Participant in any calendar year shall not exceed the following: (x) any cash-based performance unit Award with a performance period that is the Company’s fiscal year
                  or other 12-month (or shorter) performance period as specified  under  the  terms  of  the  Award  as  approved  by  the  Committee  (an  “annual  incentive  award”):  $5,000,000; and (y) all other cash-based performance unit Awards:
                  $5,000,000.

            

       

      
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      	4.3	
              Share Counting.

            

       

      	

            	(a)	
              To the extent that any Award is forfeited, or any option and the Tandem SAR (if any) or any Free- Standing SAR terminates, expires or lapses without being exercised, or any Award is settled for cash, the shares of Common Stock subject to
                such Awards shall again be available for Awards under the Plan under Section 4.1. However, shares of Common Stock subject to such Awards shall continue to be counted for purposes of Section 4.2 or Section 9, as applicable.

            

       

      	

            	(b)	
              If the exercise price of any option and/or the tax withholding obligations relating to any Awards are satisfied by delivering shares (either actually or through attestation) or withholding shares relating to such Award, the gross number
                of shares subject to the Award shall nonetheless be deemed to have been granted for purposes of Sections 4.1 and 4.2 and any shares which are delivered will not be added to the aggregate number of shares under Section 4.1 for which Awards
                may be made under the Plan. Shares of Common Stock that the Company may repurchase from time to time with proceeds from the exercise of options or otherwise shall not be added to the aggregate number of shares under Section 4.1 for which
                Awards may be made under the Plan.

            

       

      	

            	(c)	
              If a Tandem SAR is granted, each share of Common Stock subject to both the Tandem SAR and related stock option shall be counted as only one share of Common Stock for purposes of Sections 4.1 and 4.2.

            

       

      	

            	(d)	
              Each share of Common Stock subject to a stock option (with or without a Tandem SAR) or a Free- Standing SAR shall be counted as one share of Common Stock for purposes of Sections 4.1 and 4.2.

            

       

      	

            	(e)	
              All shares of Common Stock covered by a stock appreciation right, to the extent it is exercised and shares of Common Stock are actually issued upon exercise of the right, shall be counted for purposes of Sections 4.1 and 4.2, regardless
                of the number of shares used to settle the stock appreciation right upon exercise.

            

       

      	

            	(f)	
              Awards granted in assumption of or in substitution for an award of a company or business acquired by the Company or a Subsidiary or with which the Company or a Subsidiary combines (“substitute awards”) shall not be counted against the
                number of shares reserved under the Plan.

            

       

      	4.4	
              Common Stock. To the extent that the Corporation has such shares of Common Stock available to it
                  and can issue such shares without violating any law or regulation, the Corporation will reserve Common Stock for issuance with respect to an Award payable in Common Stock. The shares of Common Stock which may be issued under the Plan may
                  be either authorized but unissued shares or shares previously issued and thereafter acquired by the Corporation or partly each, as shall be determined from time to time by the Board.

            

       

      
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      	4.5	
              Adjustment and Substitution of Shares. In the event of a merger, consolidation, acquisition of
                  shares, stock rights offering, liquidation, separation, spinoff, disaffiliation of a Subsidiary from the Corporation, extraordinary dividend of cash or other property, or similar event affecting the Corporation or any of its Subsidiaries
                  (each, a “Corporate Transaction”), the Committee or the Board shall make such substitutions or adjustments as it deems appropriate and equitable to prevent the dilution or enlargement of the rights of Participants to (A) the aggregate
                  number and kind of shares of Common Stock reserved for issuance and delivery under the Plan, (B) the various maximum limitations set forth in Sections 4.1 and 4.2 upon certain types of Awards and upon the Awards to individuals, (C) the
                  number and kind of shares of Common Stock subject to outstanding Awards; and (D) the exercise price of outstanding Awards. In the event of a stock dividend, stock split, reverse stock split, reorganization, share combination, or
                  recapitalization or similar event affecting the capital structure of the Corporation (each, a “Share Change”), the Committee or the Board shall make such substitutions or adjustments as it deems appropriate and equitable to prevent the
                  dilution or enlargement of the rights of Participants to (A) the aggregate number and kind of shares of Common Stock reserved for issuance and delivery under the Plan, (B) the various maximum limitations set forth in Sections 4.1 and 4.2
                  upon certain types of Awards and upon the Awards to individuals, (C) the number and kind of shares of Common Stock subject to outstanding Awards; and (D) the exercise price of outstanding Awards. In the case of Corporate Transactions,
                  such adjustments may include, without limitation, (1) the cancellation of outstanding Awards in exchange for payments of cash, property or a combination thereof having an aggregate value equal to the value of such Awards, as determined by
                  the Committee or the Board in its sole discretion (it being understood that in the case of a Corporate Transaction with respect to which shareholders of Common Stock receive consideration other than publicly-traded equity securities of
                  the ultimate surviving entity, any such determination by the Committee that the value of an option or stock appreciation right shall for this purpose be deemed to equal the excess, if any, of the value of the consideration being paid for
                  each share pursuant to such Corporate Transaction over the exercise price of such option or stock appreciation right shall conclusively be deemed valid); (2) the substitution of other property (including, without limitation, cash or other
                  securities of the Corporation and securities of entities other than the Corporation) for the shares subject to outstanding Awards; and (3) in connection with any disaffiliation of a Subsidiary, arranging for the assumption of Awards, or
                  replacement of Awards with new Awards based on other property or other securities (including, without limitation, other securities of the Corporation and securities of entities other than the Corporation), by the affected Subsidiary, or
                  by the entity that controls such Subsidiary following such disaffiliation (as well as any corresponding adjustments to Awards that remain based upon Corporation securities). The Committee shall adjust the Performance Goals applicable to
                  any Awards to reflect any unusual or non-recurring events and other extraordinary items, impact of charges for restructurings, discontinued operations, and the cumulative effects of accounting or tax changes, each as defined by generally
                  accepted accounting principles or as identified in the Corporation’s financial statements, notes to the financial statements, management’s discussion and analysis or other of the Corporation’s SEC filings, provided that in the case of
                  Performance Goals applicable to any Qualified Performance-Based Awards, such adjustment does not violate Section 162(m) of the Code or cause such Awards not to qualify for the Section 162(m) Exemption, as defined in Section 12.1. No
                  adjustment or substitution provided in this Section 4.5 shall require the Corporation or any other entity to issue or sell a fraction of a share or other security. Except as provided in this Section 4.5, a Participant shall not have any
                  rights with respect to any Corporate Transaction or Share Change.

            

       

      
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      	4.6	
              Section 409A; Section 162(m); Incentive Stock Options. Notwithstanding the foregoing: (i) any
                  adjustments made pursuant to Section 4.5 to Awards that are considered “deferred compensation” within the meaning of Section 409A of the Code shall be made in compliance with the requirements of Section 409A of the Code; (ii) any
                  adjustments made pursuant to Section 4.5 to Awards that are not considered “deferred compensation” subject to Section 409A of the Code shall be made in such a manner as to ensure that after such adjustment, the Awards either (A) continue
                  not to be subject to Section 409A of the Code or (B) comply with the requirements of Section 409A of the Code; and (iii) in any event, neither the Committee nor the Board shall have the authority to make any adjustments pursuant to
                  Section 4.5 to the extent the existence of such authority would cause an Award that is not intended to be subject to Section 409A of the Code at the grant date of the Award to be subject thereto. If any such adjustment or substitution
                  provided for in Section 4.5 requires the approval of shareholders in order to enable the Corporation to grant incentive stock options or to comply with Section 162(m) of the Code, then no such adjustment or substitution shall be made
                  without the required shareholder approval. Notwithstanding the foregoing, in the case of incentive stock options, if the effect of any such adjustment or substitution would be to cause the option to fail to continue to qualify as an
                  incentive stock option or to cause a modification, extension or renewal of such option within the meaning of Section 424 of the Code, the Committee may determine that such adjustment or substitution not be made but rather shall use
                  reasonable efforts to effect such other adjustment of each then outstanding incentive stock option as the Committee, in its sole discretion, shall deem equitable and which will not result in any disqualification, modification, extension
                  or renewal (within  the  meaning  of Section 424 of the Code) of such incentive stock option.

            

       

      SECTION 5

      Grant of Stock Options and Stock Appreciation Rights

       

      	5.1	
              Types of Options; Limit on Incentive Stock Options. The Committee shall have authority, in its
                  sole discretion, to grant “incentive stock options” pursuant to Section 422 of the Code, to grant “nonstatutory stock options” (i.e., stock options which do not qualify under Sections 422 or 423 of the Code) or to grant both types of
                  stock options (but not in tandem). Notwithstanding any other provision contained in the Plan or in any agreement under Section 2.5, but subject to the possible exercise of the Committee’s discretion contemplated in the last sentence of
                  this Section 5.1, the aggregate Fair Market Value on the date of grant of the shares with respect to which such incentive stock options are exercisable for the first time by a Participant during any calendar year under all plans of the
                  corporation employing such Participant, any parent or subsidiary corporation of such corporation and any predecessor corporation of any such corporation shall not exceed $100,000. If the date on which one or more incentive stock options
                  could first be exercised would be accelerated pursuant to any provision of the Plan or any agreement under Section 2.5 and the acceleration of such exercise date would result in a violation of the $100,000 restriction set forth in the
                  preceding sentence, then, notwithstanding any such provision, but subject to the provisions of the next succeeding sentence, the exercise dates of such incentive stock options shall be accelerated only to the extent, if any, that does not
                  result in a violation of such restriction and, in such event, the exercise dates of the incentive stock options with the lowest option prices shall be accelerated to the earliest such dates. The Committee may, in its sole discretion,
                  authorize the acceleration of the exercise date of one or more incentive stock options even if such acceleration would violate the $100,000 restriction set forth in the second sentence of this Section 5.1 and even if one or more such
                  incentive stock options are thereby converted in whole or in part to nonstatutory stock options.

            

       

      
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      	5.2	
              Types and Nature of Stock Appreciation Rights. Stock appreciation rights may be tandem stock
                  appreciation rights which are granted in conjunction with incentive stock options or nonstatutory stock options (“Tandem SARs”), or stock appreciation rights which are not granted in conjunction with options (“Free-Standing SARs”). Upon
                  the exercise of a stock appreciation right, the Participant shall be entitled to receive an amount in cash, shares of Common Stock, or both, in value equal to the product of (i) the excess of the Fair Market Value of one share of Common
                  Stock on the date of exercise of the stock appreciation right over, in the case of a Tandem SAR, the exercise price of the related option, or in the case of a Free-Standing SAR, the Base Price per share (the “Spread”), multiplied by (ii)
                  the number of shares of Common Stock in respect of which the stock appreciation right has been exercised. Notwithstanding the foregoing, the Committee at the time it grants a stock appreciation right may provide that the Spread covered by
                  such stock appreciation right may not exceed a lower specified amount. The applicable agreement under Section 2.5 governing the stock appreciation rights shall specify whether such payment is to be made in cash or Common Stock or both, or
                  shall reserve to the Committee or the Participant the right to make that determination prior to or upon the exercise of the stock appreciation right. Tandem SARs may be granted at the grant date of the related stock options or, in the
                  case of a related nonstatutory stock option, also at a later date. At the time a Tandem SAR is granted, the Committee may limit the exercise period for such Tandem SAR, before and after which period no Tandem SAR shall attach to the
                  underlying stock option. In no event shall the exercise period for a Tandem SAR exceed the exercise period for the related stock option. A Tandem SAR shall be exercisable only at such time or times and to the extent that the related
                  option is exercisable in accordance with the provisions of this Section 5. A Tandem SAR shall terminate or be forfeited upon the exercise or forfeiture of the related stock option, and the related stock option shall terminate or be
                  forfeited upon the exercise or forfeiture of the Tandem SAR. Any Tandem SAR granted with a related incentive stock option shall be exercisable only when the Fair Market Value of a share of Common Stock exceeds the exercise price for a
                  share of Common Stock under the related incentive stock option.

            

       

      
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      	5.3	
              Exercise Price and Base Price.

            

       

      	

            	(a)	
              The exercise price per share of Common Stock subject to an option and any Tandem SAR, and the base price per share for any Free-Standing SAR (the “Base Price”), shall be determined by the Committee and set forth in the applicable
                agreement under Section 2.5, and shall not be less than the Fair Market Value of a share of the Common Stock on the applicable grant date, except that in the case of an incentive stock option granted to a Participant who, immediately prior
                to such grant, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Corporation or any Subsidiary which is a corporation (a “Ten Percent Employee”), the exercise price shall not
                be less than one hundred ten percent (110%) of the Fair Market Value on the date of grant. For purposes of this Section 5.3, an individual (i) shall be considered as owning not only shares of stock owned individually but also all shares of
                stock that are at the time owned, directly or indirectly, by or for the spouse, ancestors, lineal descendants and brothers and sisters (whether by the whole or half blood) of such individual and (ii) shall be considered as owning
                proportionately any shares owned, directly or indirectly, by or for any corporation, partnership, estate or trust in which such individual is a shareholder, partner or beneficiary.

            

       

      	

            	(b)	
              In no event may any option or stock appreciation right granted under this Plan, other than pursuant to Section 4.5, be amended to decrease the exercise price or Base Price thereof, be cancelled in conjunction with the grant of any new
                option or stock appreciation right with a lower exercise price or Base Price, be cancelled or repurchased for cash, property, or another Award at a time when the exercise price or Base Price is greater than the Fair Market Value of the
                underlying Common Stock, or otherwise be subject to any action that would be treated, for accounting purposes, as a “repricing” of such option or stock appreciation right, unless such amendment, cancellation, or action is approved by the
                Corporation’s shareholders.

            

       

      	5.4	
              Term; Vesting and Exercisability. The term of each option and each stock appreciation right
                  shall be fixed by the Committee, but shall not exceed ten years from the date of grant (five years in the case of an incentive stock option granted to a Ten Percent Employee). Except as otherwise provided herein, options and stock
                  appreciation rights shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee and may be exercisable commencing with the grant date.

            

       

      	5.5	
              Method of Exercise. Subject to the provisions of this Section 5, options and stock appreciation
                  rights may be exercised, in whole or in part (unless otherwise specified by the Committee in its sole discretion), at any time during the applicable term by giving written notice of exercise to the Corporation specifying the number of
                  shares of Common Stock as to which the option or stock appreciation rights is being exercised. In the case of the exercise of an option, such notice shall be accompanied by payment in full of the exercise price in United States of America
                  dollars by certified or bank check or wire of immediately available funds. If approved by the Committee (at the time of grant in the case of an incentive stock option or at any time in the case of a nonstatutory stock option), payment, in
                  full or in part, may also be made as follows:

            

       

      	

            	(a)	
              Payment may be made in the form of unrestricted shares of Common Stock (by delivery of such shares or by attestation) of the same class as the Common Stock subject to the option already owned by the Participant (based on the Fair Market
                Value of the Common Stock on the date the option is exercised); provided, however, that any portion of the exercise price representing a fraction of a share shall be paid in cash;

            

       

      
        A-11

        
          

      

      	

            	(b)	
              To the extent permitted by applicable law, payment may be made by delivering a properly executed exercise notice to the Corporation, together with a copy of irrevocable instructions to a broker to deliver promptly to the Corporation the
                amount of sale or loan proceeds necessary to pay the exercise price, and, if requested, the amount of any federal, state, local or foreign withholding taxes. To facilitate the foregoing, the Corporation may, to the extent permitted by
                applicable law, enter into agreements for coordinated procedures with one or more brokerage firms. In the event the broker sells any shares on behalf of a Participant, the broker shall be acting solely as the agent of the Participant, and
                the Corporation disclaims any responsibility for the actions of the broker in making any such sales;

            

       

      	

            	(c)	
              To the extent permitted by applicable law and if authorized by the Corporation, payment may be made by a “net exercise” by the Corporation withholding shares of Common Stock otherwise due to the Participant upon exercise; and/or

            

       

      	

            	(d)	
              With such other instrument as approved by the Committee, including Corporation loans, to the extent permitted by applicable law.

            

       

      	5.6	
              Delivery; Rights of Shareholders. No shares shall be delivered pursuant to the exercise of an
                  option until the exercise price for the option has been fully paid and applicable taxes have been withheld. Unless otherwise specified by the Committee, the applicable Participant shall have all of the rights of a shareholder of the
                  Corporation holding Common Stock with respect to the shares of Common Stock to be issued upon the exercise of the option or stock appreciation right (including the right to vote the applicable shares and the right to receive dividends),
                  when the Participant (i) has given written notice of exercise in accordance with the procedures established by the Committee, (ii) if requested, has given the representation described in Section 10, and (iii) in the case of an option, has
                  paid in full the exercise price for such shares.

            

       

      	5.7	
              Nontransferability of Options and Stock Appreciation Rights. Unless the Committee shall
                  otherwise determine in the case of nonstatutory stock options and stock appreciation rights and limited to a transfer without the payment of value or consideration to the Participant, (i) no option or stock appreciation right shall be
                  transferable by a Participant other than by will, or if the Participant dies intestate, by the laws of descent and distribution of the state of domicile of the Participant at the time of death, and (ii) all stock options and stock
                  appreciation rights shall be exercisable during the lifetime of the Participant only by the Participant (or the Participant’s guardian or legal representative). Any Tandem SAR shall be transferable only when the related stock option is
                  transferable and with the related stock option.

            

       

      	5.8	
              Termination of Employment. Unless the Committee, in its sole discretion, shall otherwise
                  determine at the time of grant of the Award or, other than in the case of incentive stock options, thereafter, but subject to the provisions of Section 5.1 in the case of incentive stock options and Section 11.3:

            

       

      
        A-12

        
          

      

      	

            	(a)	
              If the employment of a Participant who is not disabled within the meaning of Section 422(c)(6) of the Code (a “Disabled Participant”) is voluntarily terminated with the consent of the Corporation or a Subsidiary or a Participant retires
                under any retirement plan of the Corporation or a Subsidiary, any then outstanding incentive stock option held by such Participant shall be exercisable by the Participant (but only to the extent exercisable by the Participant immediately
                prior to the termination of employment) at any time prior to the expiration date of such incentive stock option or within three months after the date of termination of employment, whichever is the shorter period;

            

       

      	

            	(b)	
              If the employment of a Participant who is not a Disabled Participant is voluntarily terminated with the consent of the Corporation or a Subsidiary or a Participant retires under any retirement plan of the Corporation or a Subsidiary, any
                then outstanding nonstatutory stock option or stock appreciation right held by such Participant shall be exercisable by the Participant (but only to the extent exercisable by the Participant immediately prior to the termination of
                employment) at any time prior to the expiration date of such nonstatutory stock option or stock appreciation right or within one year after the date of termination of employment, whichever is the shorter period;

            

       

      	

            	(c)	
              If the employment of a Participant who is a Disabled Participant is voluntarily terminated with the consent of the Corporation or a Subsidiary, any then outstanding stock option or stock appreciation right held by such Participant shall
                be exercisable in full (whether or not so exercisable by the Participant immediately prior to the termination of employment) by the Participant at any time prior to the expiration date of such stock option or stock appreciation right or
                within one year after the date of termination of employment, whichever is the shorter period;

            

       

      	

            	(d)	
              Following the death of a Participant during employment, any outstanding stock option or stock appreciation right held by the Participant at the time of death shall be exercisable in full (whether or not so exercisable by the Participant
                immediately prior to the death of the Participant) by the person entitled to do so under the will of the Participant, or, if the Participant shall fail to make testamentary disposition of the stock option or stock appreciation right or
                shall die intestate, by the legal representative of the Participant at any time prior to the expiration date of such stock option or stock appreciation right or within one year after the date of death, whichever is the shorter period;

            

       

      	

            	(e)	
              Following the death of a Participant after termination of employment during a period when a stock option or stock appreciation right is exercisable, any outstanding stock option or stock appreciation right held by the Participant at the
                time of death shall be exercisable by such person entitled to do so under the will of the Participant or by such legal representative (but only to the extent the stock option or stock appreciation right was exercisable by the Participant
                immediately prior to the death of the Participant) at any time prior to the expiration date of such stock option or stock appreciation right or within one year after the date of death, whichever is the shorter period; and

            

       

      
        A-13

        
          

      

      	

            	(f)	
              Unless the exercise period of a stock option or stock appreciation right following termination of employment has been extended as provided in Section 11.4, if the employment of a Participant terminates for any reason other than voluntary
                termination with the consent of the Corporation or a Subsidiary, retirement under any retirement plan of the Corporation or a Subsidiary or death, all outstanding stock options and stock appreciation rights held by the Participant at the
                time of such termination of employment shall automatically terminate.

            

       

      
        	
                

                

              	
                Whether termination of employment is a voluntary termination with the consent of the Corporation or a Subsidiary and whether a
                  Participant is a Disabled Participant shall be determined in each case, in its sole discretion, by the Committee (or, in the case of Participants who are not (i) Covered Employees as of the end of the Corporation’s immediately preceding
                  fiscal year or (ii) the Chief Executive Officer of the Corporation, by such Chief Executive Officer, in his sole discretion) and any such determination by the Committee or such Chief Executive Officer shall be final and binding. Without
                  limitation of the foregoing, a termination of employment by the Participant shall not be a voluntary termination with the consent of the Corporation unless the Committee or, if applicable, such Chief Executive Officer, in its or his sole
                  discretion, specifically consents to the termination of employment in writing.

              

      

       

      	5.9	
              Other Terms and Conditions. Subject to the foregoing provisions of this Section 5 and the other
                  provisions of the Plan, any stock option or stock appreciation right granted under the Plan may be exercised at such times and in such amounts and be subject to such restrictions and other terms and conditions, if any, as shall be
                  determined, in its sole discretion, by the Committee and set forth in the agreement under Section 2.5.

            

       

      SECTION 6 

      

      Restricted Stock

       

      	6.1	
              Restricted Stock Awards; Certificates. Shares of restricted stock are actual shares of Common
                  Stock issued to a Participant, and shall be evidenced in such manner as the Committee may deem appropriate, including book- entry registration or issuance of one or more stock certificates. Any certificate issued in respect of shares of
                  restricted stock shall be registered in the name of the applicable Participant and, unless held by or on behalf of the Corporation in escrow or custody until the restrictions lapse or the shares are forfeited, shall bear an appropriate
                  conspicuous legend referring to the terms, conditions, and restrictions applicable to such Award, substantially in the following form:

            

       

      “The transferability of this certificate and the shares of stock represented hereby are subject to the terms and conditions
        (including forfeiture) of the Westinghouse Air Brake Technologies Corporation 2011 Stock Incentive Plan and a corresponding agreement. Copies of such Plan and agreement are on file at the offices of Westinghouse Air Brake Technologies Corporation,
        1001 Air Brake Avenue, Wilmerding, PA 15148.”

       

      
        A-14

        
          

      

      
        	
                

                

              	
                The Committee may require that the certificates evidencing such shares be held in escrow or custody by or on behalf of the Corporation
                  until the restrictions thereon shall have lapsed or the shares are forfeited and that, as a condition of any Award of restricted stock, the applicable Participant deliver to the Corporation a stock power, endorsed in blank, relating to
                  the Common Stock covered by such Award.

              

      

       

      	6.2	
              Terms and Conditions. Shares of restricted stock shall be subject to the following terms and
                  conditions:

            

       

      	

            	(a)	
              The Committee shall, prior to or at the time of grant, condition the vesting of an Award of restricted stock upon (i) the continued service of the applicable Participant, (ii) the attainment of Performance Goals, or (iii) the attainment
                of Performance Goals and the continued service of the applicable Participant. The Committee shall establish at the time the restricted stock is granted the performance periods during which any Performance Goals specified by the Committee
                with respect to the restricted stock Award are to be measured. In the event that the Committee conditions the vesting of an Award of restricted stock upon the attainment of Performance Goals or the attainment of Performance Goals and the
                continued service of the applicable Participant, the Committee may, prior to or at the time of grant, designate an Award of restricted stock as a Qualified Performance-Based Award. The conditions for vesting and the other provisions of
                restricted stock Awards (including without limitation any applicable Performance Goals) need not be the same with respect to each recipient, and shall be established by the Committee in its sole discretion. Except in the case of a Qualified
                Performance-Based Award, the Committee at any time after the date of grant, in its sole discretion, may modify or waive any of the conditions applicable to an Award of restricted stock.

            

       

      	

            	(b)	
              Subject to the provisions of the Plan (including Section 6.3) and the applicable agreement under Section 2.5, during the period, if any, set by the Committee, commencing with the date of such restricted stock Award for which such vesting
                restrictions apply (the “Restriction Period”), and until the expiration of the Restriction Period, the Participant shall not be permitted to sell, assign, transfer, pledge or otherwise encumber shares of such restricted stock. A restricted
                stock Award may vest in part on a pro rata basis prior to the expiration of any Restriction Period.

            

       

      	

            	(c)	
              Except as provided in this Section 6 and in the applicable agreement under Section 2.5, the applicable Participant shall have, with respect to the shares of restricted stock, all of the rights of a shareholder of the Corporation holding
                the Common Stock that is the subject of the restricted stock, including, if applicable, the right to vote the shares and the right to receive any cash dividends. If so determined by the Committee and set forth in the applicable agreement
                under Section 2.5 and subject to Section 15.4, cash dividends on the Common Stock that is the subject of the restricted stock Award may be (i) automatically deferred and reinvested in additional restricted stock, and held subject to the
                same vesting and forfeiture conditions of the underlying restricted stock, or (ii) held by the Corporation in cash (without any payment of interest thereon) subject to the same vesting and forfeiture conditions of the restricted stock with
                respect to which the dividends are payable. Unless otherwise determined by the Committee and set forth in the applicable agreement under Section 2.5, any Common Stock or other securities payable with respect to any restricted stock as a
                result of or pursuant to Section 4.5, shall be held subject to the same vesting and forfeiture conditions of the underlying restricted stock.

            

       

      
        A-15

        
          

      

      	

            	(d)	
              As soon as practicable after the applicable Restriction Period has ended, the Committee shall determine and certify (in writing in the case of Qualified Performance-Based Awards) whether and the extent to which the service period and/or
                the Performance Goals were met for the applicable restricted stock. If the vesting condition or conditions applicable to the restricted stock are not satisfied by the time the Restriction Period has expired, such restricted stock shall be
                forfeited. If and when the Restriction Period expires without a prior forfeiture of the shares of restricted stock (i) if legended certificates have been issued, unlegended certificates for such shares shall be delivered to the Participant
                upon surrender of the legended certificates, (ii) if legended certificates have not yet been issued, unlegended certificates (and any related blank stock powers previously executed by the Participant) shall be delivered to the Participant,
                and (iii) any cash dividends held by the Corporation pursuant to Section 6.2(c) shall be delivered to the Participant.

            

       

      	6.3	
              Permitted Transfers. Neither this Section 6 nor any other provision of the Plan shall preclude a
                  Participant from transferring or assigning restricted stock, without the payment of value or consideration to the Participant, to (i) the trustee of a trust that is revocable by such Participant alone, both at the time of the transfer or
                  assignment and at all times thereafter prior to such Participant’s death or (ii) the trustee of any other trust to the extent approved in advance by the Committee, in its sole discretion, in writing. A transfer or assignment of restricted
                  stock from such trustee to any person other than such Participant shall be permitted only to the extent approved in advance by the Committee, in its sole discretion, in writing, and restricted stock held by such trustee shall be subject
                  to all of the conditions and restrictions set forth in the Plan and in the applicable agreement under Section 2.5 as if such trustee were a party to such agreement.

            

       

      SECTION 7

      Restricted Stock Units

       

      	7.1	
              Restricted Stock Unit Awards. Restricted stock units are Awards denominated in shares of Common
                  Stock that will be settled, subject to the terms and conditions of the restricted stock units and at the sole discretion of the Committee, in an amount in cash, shares of Common Stock, or both, based upon the Fair Market Value of a
                  specified number of shares of Common Stock.

            

       

      
        A-16

        
          

      

      	7.2	
              Terms and Conditions. Restricted stock units shall be subject to the following terms and
                  conditions:

            

       

      	

            	(a)	
              The Committee shall, prior to or at the time of grant, condition the vesting of restricted stock units upon (i) the continued service of the applicable Participant, (ii) the attainment of Performance Goals or (iii) the attainment of
                Performance Goals and the continued service of the applicable Participant. In the event that the Committee conditions the vesting of restricted stock units upon the attainment of Performance Goals or the attainment of Performance Goals and
                the continued service of the applicable Participant, the Committee may, prior to or at the time of grant, designate the restricted stock units as a Qualified Performance-Based Award. The Committee shall determine the performance period(s)
                during which any Performance Goals are to be achieved. The conditions for grant or vesting and the other provisions of restricted stock units (including without limitation any applicable Performance Goals) need not be the same with respect
                to each recipient. An Award of restricted stock units shall be settled as and when the restricted stock units vest, as determined and certified (in writing in the case of Qualified Performance-Based Awards) by the Committee, or at a later
                time specified by the Committee or in accordance with an election of the Participant, if the Committee so permits. Except in the case of a Qualified Performance-Based Award, the Committee at any time after the date of grant, in its sole
                discretion, may modify or waive any of the conditions applicable to an Award of restricted stock units.

            

       

      	

            	(b)	
              Subject to the provisions of the Plan and the applicable agreement under Section 2.5, during the period, if any, set by the Committee, commencing with the date of grant of such restricted stock units for which such vesting restrictions
                apply (the “Units Restriction Period”), and until the expiration of the Units Restriction Period, the Participant shall not be permitted to sell, assign, transfer, pledge or otherwise encumber restricted stock units. A restricted stock unit
                may vest in part prior to the expiration of any Units Restriction Period.

            

       

      	

            	(c)	
              Participants granted restricted stock units shall not be entitled to any dividends payable on the Common Stock unless the agreement under Section 2.5 for restricted stock units specifies to what extent and on what terms and conditions
                the applicable Participant shall be entitled to receive current or deferred payments of cash, Common Stock or other property corresponding to the dividends payable on the Common Stock (subject to Section 15.4 below). Restricted stock units
                shall not have any voting rights, and holders of restricted stock units shall not be shareholders of the Corporation unless and until shares of Common Stock are issued by the Corporation (in book-entry form or otherwise).

            

       

      
        A-17

        
          

      

      SECTION 8

      Performance Units

       

      Performance units may be granted hereunder to eligible employees, for no cash consideration or for such minimum consideration as may be required
        by applicable law, either alone or in addition to other Awards granted under the Plan. Performance units may be share-based or cash-based, including annual incentive awards. The Committee shall establish at the time the performance unit is granted
        the performance period(s) during which any Performance Goals specified by the Committee with respect to the Award are to be measured. The Performance Goals to be achieved during any performance period(s) and the length of the performance period(s)
        shall be determined by the Committee upon the grant of each performance unit. The Committee may, in connection with the grant of performance units, designate them as Qualified Performance-Based Awards. The conditions for grant or vesting and the
        other provisions of performance units (including without limitation any applicable Performance Goals) need not be the same with respect to each Participant. Performance units may be paid in cash, shares of Common Stock, other property or any
        combination thereof, in the sole discretion of the Committee as set forth in the applicable agreement under Section 2.5. Performance units shall not have any voting rights, and holders of performance units shall not be shareholders of the
        Corporation unless and until shares of Common Stock are issued by the Corporation (in book-entry form or otherwise). The Performance Goals to be achieved for each performance period, whether the Performance Goals have been achieved, and the amount
        of the Award to be distributed shall be conclusively determined and certified (in writing in the case of Qualified Performance-Based Awards) by the Committee. Performance units may be paid in a lump sum or in installments following the close of the
        performance period(s). The Participant shall not be permitted to sell, assign, transfer, pledge or otherwise encumber performance units. Except in the case of a Qualified Performance- Based Award, the Committee at any time after the grant of
        performance units, in its sole discretion, may modify or waive any of the conditions applicable to an Award of performance units.

       

      

      SECTION 9

      Other Stock-Based Awards

       

      The Committee may award Common Stock and other Awards that are valued in whole or in part by reference to, or are otherwise based upon, Common
        Stock, including but not limited to, unrestricted stock or dividend equivalents. Any such Award shall be subject to such terms and conditions as established by the Committee, and may include Qualified Performance-Based Awards.

       

      SECTION 10 

      

      Issuance of Shares

       

      The Committee may require each person purchasing or receiving shares of Common Stock pursuant to an Award to represent to and agree with the
        Corporation in writing that such person is acquiring the shares without a view to the distribution thereof. The certificates for such shares may include any legend which the Committee deems appropriate to reflect any restrictions on transfer. The
        obligation of the Corporation to issue shares of Common Stock under the Plan shall be subject to (i) the effectiveness of a registration statement under the Securities Act of 1933, as amended, with respect to such shares, if deemed necessary or
        appropriate by counsel for the Corporation, (ii) the condition that the shares shall have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange, if any, on which the shares of Common Stock may then be
        listed, (iii) all other applicable laws, regulations, rules and orders which may then be in effect and (iv) obtaining any other consent, approval, or permit from any state or federal governmental agency which the Committee shall, in its sole
        discretion, determine to be necessary or advisable.

       

      
        A-18

        
          

      

      SECTION 11

      Additional Rights in Certain Events

       

      11.1          Definitions.

       

      For purposes of this Section 11, the following terms shall have the following meanings:

       

      	

            	(1)	
              The term “Person” shall be used as that term is used in Sections 13(d) and 14(d) of the 1934 Act as in effect on the effective date of the Plan.

            

       

      	

            	(2)	
              “Beneficial Ownership” shall be determined as provided in Rule 13d-3 under the 1934 Act as in effect on the effective date of the Plan.

            

       

      	

            	(3)	
              A specified percentage of “Voting Power” of a company shall mean such number of the Voting Shares as shall enable the holders thereof to cast such percentage of all the votes which could be cast in an annual election of directors
                (without consideration of the rights of any class of stock other than the common stock of the company to elect directors by a separate class vote); and “Voting Shares” shall mean all securities of a company entitling the holders thereof to
                vote in an annual election of directors (without consideration of the rights of any class of stock other than the common stock of the company to elect directors by a separate class vote).

            

       

      	

            	(4)	
              “Continuing Directors” shall mean a director of the Corporation who either (a) was a director of the Corporation on the effective date of the Plan or (b) is an individual whose election, or nomination for election, as a director of the
                Corporation was approved by a vote of at least two-thirds of the directors then still in office who were Continuing Directors (other than an individual whose initial assumption of office is in connection with an actual or threatened
                election contest relating to the election of directors of the Corporation which would be subject to Rule 14a-11 under the 1934 Act, or any successor rule).

            

       

      	

            	(5)	
              “Section 11 Event” shall mean the date upon which any of the following events occurs:

            

       

      	

            	(a)	
              The Corporation acquires actual knowledge that any Person, other than the Corporation, a Subsidiary, or any employee benefit plan(s) sponsored by the Corporation or a Subsidiary, has acquired the Beneficial Ownership, directly or
                indirectly, of securities of the Corporation entitling such Person to 30% or more of the Voting Power of the Corporation;

            

       

      	

            	(b)	
              At any time less than 51% of the members of the Board (excluding vacant seats) shall be Continuing Directors; or

            

       

      	

            	(c)	
              The consummation of a merger, consolidation, share exchange, division or sale or other disposition of assets of the Corporation as a result of which the stockholders of the Corporation immediately prior to such transaction shall not
                hold, directly or indirectly, immediately following such transaction a majority of the Voting Power of (i) in the case of a merger or consolidation, the surviving or resulting corporation, (ii) in the case of a share exchange, the acquiring
                corporation or (iii) in the case of a division or a sale or other disposition of assets, each surviving, resulting or acquiring corporation which, immediately following the transaction, holds more than 30% of the consolidated assets of the
                Corporation immediately prior to the transaction;

            

       

      
        A-19

        
          

      

      
        	
                

                

              	
                provided, however, that if securities beneficially owned by a Participant are included in determining the Beneficial Ownership of a Person referred to in
                  paragraph 6(a) above, then no Section 11 Event with respect to such Participant shall be deemed to have occurred by reason of such event.

              

      

       

      	11.2	
              Vesting Upon Section 11 Event if Awards Do Not Remain Outstanding. Subject to the provisions of
                  Section 5 in the case of incentive stock options and Section 11.5, unless the agreement under Section 2.5 shall otherwise provide, notwithstanding any other provision contained in the Plan, in the event that a Section 11 Event occurs and
                  Awards do not remain outstanding after the Section 11 Event (and are not assumed by, or converted to similar awards with equivalent value as of the date of the Section 11 Event of, the surviving, resulting, or acquiring corporation (or a
                  parent or subsidiary of such corporation)), then all outstanding stock options and stock appreciation rights shall become immediately vested and fully exercisable, any restrictions applicable to restricted stock Awards shall lapse, and
                  all other Awards shall be considered to be earned and payable in full as of the date of the Section 11 Event.

            

       

      	11.3	
              Vesting Upon Certain Terminations of Employment. Subject
                    to the provisions of Section 5 in the case of incentive stock options and Section 11.5, unless the agreement under Section 2.5 shall otherwise provide, notwithstanding any other provision contained in the Plan, in the event that a
                    Section 11 Event occurs and Awards remain outstanding after the Section 11 Event (or are assumed by, or converted to similar awards with equivalent value as of the date of the Section 11 Event of, the surviving, resulting, or acquiring
                    corporation (or a parent or subsidiary of such corporation)), and upon or within one year after the Section 11 Event (a) the Corporation or a Subsidiary (or their respective successor) terminates a Participant’s employment without cause
                    (as defined in the agreement under Section 2.5) or (b) a Participant resigns from employment for good reason (as defined in the agreement under Section 2.5), then the Participant’s outstanding stock options and stock appreciation rights
                    shall become immediately vested and fully exercisable, any restrictions applicable to restricted stock Awards shall lapse, and other Awards shall be considered to be earned and payable in full.

            

       

      	11.4	
              Extension of the Expiration Date of Stock Options and Stock Appreciation Rights. Subject to the
                  provisions of Section 5 in the case of incentive stock options and Section 11.5, unless the agreement under Section 2.5 shall otherwise provide, notwithstanding any other provision contained in the Plan, all stock options and stock
                  appreciation rights held by a Participant whose employment with the Corporation or a Subsidiary terminates within one year of any Section 11 Event for any reason other than voluntary termination with the consent of the Corporation or a
                  Subsidiary, retirement under any retirement plan of the Corporation or a Subsidiary or death shall be exercisable for a period of three years from the date of such termination of employment, but in no event after the expiration date of
                  the stock option or stock appreciation right.

            

       

      
        A-20

        
          

      

      	11.5	
              Code Section 409A. Notwithstanding the foregoing, if any Award is subject to Section 409A of the
                  Code, this Section 11 shall be applicable only to the extent consistent with Section 409A.

            

       

      SECTION 12

      Qualified Performance-Based Awards; Section 409A

       

      	12.1	
              Qualified Performance-Based Awards.

            

       

      	

            	(a)	
              The provisions of this Plan are intended to ensure that all options and stock appreciation rights granted hereunder to any Participant who is or may be a Covered Employee in the tax year in which such option or stock appreciation right
                is expected to be deductible to the Corporation qualify for the exemption from the limitation on deductions imposed by Section 162(m) of the Code (the “Section 162(m) Exemption”), and all such Awards shall therefore be considered Qualified
                Performance-Based Awards and this Plan shall be interpreted and operated consistent with that intention. When granting any Award other than an option or stock appreciation right, the Committee may designate such Award as a Qualified
                Performance-Based Award, based upon a determination that (i) the recipient is or may be a Covered Employee with respect to such Award, and (ii) the Committee wishes such Award to qualify for the Section 162(m) Exemption, and the terms of
                any such Award (and of the grant thereof) shall be consistent with such designation. With respect to Qualified Performance-Based Awards, within 90 days after the commencement of a performance period or, if earlier, by the expiration of 25%
                of a performance period, the Committee will designate one or more performance periods, determine the Participants for the performance periods and establish the Performance Goals for the performance periods.

            

       

      	

            	(b)	
              Each Qualified Performance-Based Award (other than an option or stock appreciation right) shall be earned, vested and/or payable (as applicable) upon certification in writing by the Committee of the achievement of one or more Performance
                Goals, together with the satisfaction of any other conditions, such as continued employment, as previously established by the Committee with respect to such Award. Subject to the terms of any applicable Award agreement, the Committee may,
                in its discretion, reduce (but not increase) the amount of a settlement otherwise to be made in connection with a Qualified Performance- Based Award.

            

       

      	

            	(c)	
              Notwithstanding any provision in the Plan or in any agreement under Section 2.5, to the extent that any such provision or action of the Committee would cause any Qualified Performance-Based Award not to qualify for the Section 162(m)
                Exemption, such provision or action shall be null and void as it relates to Covered Employees, to the extent permitted by law and deemed advisable by the Committee.

            

       

      
        A-21

        
          

      

      	12.2	
              Code Section 409A. It is the intention of the Corporation that no Award shall be “deferred
                  compensation” subject to Section 409A of the Code, unless and to the extent that the Committee specifically determines otherwise as provided in the immediately following sentence, and the Plan and the terms and conditions of all Awards
                  shall be interpreted accordingly. The terms and conditions governing any Awards that the Committee determines will be subject to Section 409A of the Code, including any rules for elective or mandatory deferral of the delivery of cash or
                  shares of Common Stock pursuant thereto and any rules regarding treatment of such Awards in the event of a Section 11 Event, shall be set forth in the applicable agreement under Section 2.5, and shall comply in all respects with Section
                  409A of the Code.

            

       

      SECTION 13

      Effect of the Plan on the Rights of Employees and Employer

       

      Neither the adoption of the Plan nor any action of the Board or the Committee pursuant to the Plan shall be deemed to give any employee any right
        to be granted any Award under the Plan. Nothing in the Plan, in any Award under the Plan or in any agreement under Section 2.5 providing for any Award under the Plan shall confer any right to any employee to continue in the employ of the
        Corporation or any Subsidiary or interfere in any way with the rights of the Corporation or any Subsidiary to terminate the employment of any employee at any time or adjust the compensation of any employee at any time.

       

      SECTION 14 

      

      Amendment or Termination

       

      The right to amend the Plan at any time and from time to time and the right to terminate the Plan are hereby specifically reserved to the Board;
        provided that no such amendment of the Plan shall, without shareholder approval (a) increase the maximum aggregate number of shares of Common Stock for which Awards may be made under Section 4.1 of the Plan, (b) increase the maximum aggregate
        number of shares of Common Stock as to which incentive stock options may be granted under Section 4.1 of the Plan, (c) make any changes in the class of employees eligible to receive Awards under the Plan, (d) change the maximum number of shares of
        Common Stock as to which Awards may be made to any Participant under Section 4.2 of the Plan, or the maximum amount that may be paid or distributed to any Participant pursuant to a grant of performance units or other stock- based Awards made in any
        one calendar year under Section 8 or 9 of the Plan, respectively, (e) change the exercise price or Base Price permitted under Section 5.3 of the Plan or the restrictions regarding repricing under Section 5.3 of the Plan, (f) be made if shareholder
        approval of the amendment is at the time required for Awards under the Plan to qualify for the exemption from Section 16(b) of the 1934 Act provided by Rule 16b-3 or by the rules of any stock exchange on which the Common Stock may then be listed or
        (g) be made to the extent such approval is needed for Qualified Performance-Based Awards to qualify for the Section 162(m) Exemption. No amendment or termination of the Plan shall, without the written consent of the holder of an Award under the
        Plan, adversely affect the rights of such holder with respect thereto.

       

      
        A-22

        
          

      

      SECTION 15 

      

      General Provisions

       

      	15.1	
              Additional Compensation Arrangements. Nothing contained in the Plan shall prevent the
                  Corporation or any Subsidiary from adopting other or additional compensation arrangements for its employees.

            

       

      	15.2	
              Tax Withholding. No later than the date as of which an amount first becomes includible in the
                  gross income of a Participant for federal, state, local or foreign income or employment or other tax purposes with respect to any Award under the Plan, such Participant shall pay to the Corporation (or, if applicable, a Subsidiary), or
                  make arrangements satisfactory to the Corporation (or, if applicable, a Subsidiary) regarding the payment of, any federal, state, local or foreign taxes of any kind required by law to be withheld with respect to such amount. Unless
                  otherwise determined by the Committee, withholding obligations may be settled with Common Stock, including Common Stock that is part of the Award that gives rise to the withholding requirement, having a Fair Market Value on the date of
                  withholding equal to the maximum amount required to be withheld for tax purposes, all in accordance with such procedures as the Committee establishes, and provided that any fractional share amount must be paid in cash or withheld from
                  compensation otherwise due to the Participant. The obligations of the Corporation under the Plan shall be conditional on such payment or arrangements, and the Corporation and its Subsidiaries shall, to the extent permitted by law, have
                  the right to deduct any such taxes from any payment otherwise due to such Participant. The Committee may establish such procedures as it deems appropriate, including making irrevocable elections, for the settlement of withholding
                  obligations with Common Stock.

            

       

      	15.3	
              Limitation of Liability. The grant of any Award shall not:

            

       

      	

            	(a)	
              give a Participant any rights except as expressly set forth in the Plan or in the agreement under Section 2.5;

            

       

      	

            	(b)	
              create any fiduciary or other obligation of the Corporation or any Subsidiary to take any action or provide to the Participant any assistance or dedicate or permit the use of any assets of the Corporation or any Subsidiary that would
                permit the Participant to be able to attain any Performance Goals associated with any Award;

            

       

      	

            	(c)	
              create any trust, fiduciary or other duty or obligation of the Corporation or any Subsidiary to engage in any particular business, continue to engage in any particular business, engage in any particular business practices or sell any
                particular product or products; or

            

       

      	

            	(d)	
              create any obligation of the Corporation or any Subsidiary that shall be greater than the obligation of the Corporation or that Subsidiary to any of their general unsecured creditors.

            

       

      
        A-23

        
          

      

      	15.4	
              Limitation on Dividend Reinvestment and Dividend Equivalents. Reinvestment of dividends in
                  additional restricted stock at the time of any dividend payment, and the payment of shares with respect to dividends to Participants holding Awards of restricted stock units, shall only be permissible if authorized by the Committee and if
                  sufficient shares of Common Stock are available under Section 4 for such reinvestment or payment (taking into account then outstanding Awards). In the event that sufficient shares of Common Stock are not available for such reinvestment or
                  payment, such reinvestment or payment shall be made in the form of a grant of restricted stock units equal in number to the shares of Common Stock that would have been obtained by such payment or reinvestment, the terms of which
                  restricted stock units shall provide for settlement in cash and for dividend equivalent reinvestment in further restricted stock units on the terms contemplated by this Section 15.4.

            

       

      	15.5	
              Governing Law and Interpretation. To the extent not preempted by federal Law, the Plan and all
                  Awards made and actions taken thereunder shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without reference to principles of conflict of laws. The captions of this Plan are not part of
                  the provisions hereof and shall have no force or effect.

            

       

      	15.6	
              Dispute Resolution. Since Awards are granted in Western Pennsylvania, records relating to the
                  Plan and Awards are located in Western Pennsylvania, and the Plan and Awards are administered in Western Pennsylvania, the Corporation and the Participant to whom an Award is granted, for themselves and their heirs, representatives,
                  successors and assigns (collectively, the “Parties”) irrevocably submit to the exclusive and sole jurisdiction and venue of the state courts of Allegheny County, Pennsylvania and the federal courts of the Western District of Pennsylvania
                  with respect to any and all disputes arising out of or relating to the Plan, the subject matter of the Plan or any Awards under the Plan, including but not limited to any disputes arising out of or relating to the interpretation and
                  enforceability of any Awards or the terms and conditions of the Plan. To achieve certainty regarding the appropriate forum in which to prosecute and defend actions arising out of or relating to the Plan, and to ensure consistency in
                  application and interpretation of the governing law under Section 15.5 of the Plan, the Parties agree that (a) sole and exclusive appropriate venue for any such action shall be the Pennsylvania courts described in the immediately
                  preceding sentence, and no other, (b) all claims with respect to any such action shall be heard and determined exclusively in such Pennsylvania courts, and no other, (c) such Pennsylvania courts shall have sole and exclusive jurisdiction
                  over the Parties and over the subject matter of any dispute relating hereto and (d) the Parties waive any and all objections and defenses to bringing any such action before such Pennsylvania courts, including but not limited to those
                  relating to lack of personal jurisdiction, improper venue or forum non conveniens.

            

       

      	15.7	
              Non-Transferability. Except as otherwise specifically provided in the Plan or by the Committee
                  and limited to a transfer without the payment of value or consideration to the Participant, Awards under the Plan are not transferable except by will or by laws of descent and distribution of the state of domicile of the Participant at
                  the time of death.

            

       

      
        A-24

        
          

      

      	15.8	
              Deferrals. The Committee shall be authorized to establish procedures pursuant to which the
                  payment of any Award may be deferred, provided that any such deferral is consistent with all aspects of Section 409A of the Code. Subject to the provisions of this Plan and any agreement under Section 2.5, the recipient of an Award
                  (including, without limitation, any deferred Award) may, if so determined by the Committee, be entitled to receive, currently or on a deferred basis, interest or dividends, or interest or dividend equivalents, with respect to the number
                  of shares covered by the Award, as determined by the Committee, in its sole discretion, and the Committee may provide that such amounts (if any) shall be deemed to have been reinvested in additional shares or otherwise reinvested;
                  provided, however, that in no event shall interest, dividends or dividend equivalents be paid on any unearned performance units or performance share units until such units have vested.

            

       

      	15.9	
              Integration. The Plan and any written agreements executed by Participants and the Corporation
                  under Section 2.5 contain all of the understandings and representations between the parties and supersede any prior understandings and agreements entered into between them regarding the subject matter within. There are no representations,
                  agreements, arrangements or understandings, oral or written, between the parties relating to the subject matter of the Plan which are not fully expressed in the Plan and the written agreements.

            

       

      	15.10	
              Foreign Employees and Foreign Law Considerations. The Committee may grant Awards to eligible
                  employees who are foreign nationals, who are located outside the United States of America or who are not compensated from a payroll maintained in the United States of America, or who are otherwise subject to (or could cause the
                  Corporation to be subject to) legal or regulatory provisions of countries or jurisdictions outside the United States of America, on such terms and conditions different from those specified in the Plan as may, in the judgment of the
                  Committee, be necessary or desirable to foster and promote achievement of the purposes of the Plan, and, in furtherance of such purposes, the Committee may make such modifications, amendments, procedures, or subplans as may be necessary
                  or advisable to comply with such legal or regulatory provisions.

            

       

      SECTION 16 

      

      Effective Date and Duration of Plan

       

      The Plan was originally adopted by the Board effective as of March 28, 2011, and was subsequently approved by the Company’s stockholders at the
        2011 annual meetings of stockholders and re-approved at the 2016, 2017, and 2020 annual meetings of stockholders. The Plan was amended and restated effective as of March 31,  2022, which amendment and restatement applies to Awards granted after the
        effective date of such amendment and restatement.  Awards granted prior to the effective date of this amended and restated Plan shall be treated in accordance with the terms of the Plan in effect prior to such effective date. No Award under the
        Plan may be made subsequent to May 15, 2030.

       

       

      

      A-25EX-4.1

 Exhibit 4.1 

 
  

TARGA RESOURCES CORP., 
 as
Issuer, 
 and 
 THE SUBSIDIARY
GUARANTORS 
 NAMED HEREIN, 
 as
Subsidiary Guarantors, 
 and 

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION 

as Trustee 
 Indenture 

Dated as of April 6, 2022 

Debt Securities 
  

 
  

 TARGA RESOURCES CORP. 

RECONCILIATION AND TIE BETWEEN TRUST 

INDENTURE ACT OF 1939 
 AND
INDENTURE 
  

					
	 Section of

Trust
 Indenture Act

of 1939
	  		  	 Section(s)

of
 Indenture

	Section 310	  	(a)(1)	  	7.10
		  	(a)(2)	  	7.10
		  	(a)(3)	  	Not Applicable
		  	(a)(4)	  	Not Applicable
		  	(a)(5)	  	7.10
		  	(b)	  	7.08, 7.10
	Section 311	  	(a)	  	7.11
		  	(b)	  	7.11
		  	(c)	  	Not Applicable
	Section 312	  	(a)	  	2.07
		  	(b)	  	11.03
		  	(c)	  	11.03
	Section 313	  	(a)	  	7.06
		  	(b)	  	7.06
		  	(c)	  	7.06
		  	(d)	  	7.06
	Section 314	  	(a)	  	4.03, 4.04
		  	(b)	  	Not Applicable
		  	(c)(1)	  	11.04
		  	(c)(2)	  	11.04
		  	(c)(3)	  	Not Applicable
		  	(d)	  	Not Applicable
		  	(e)	  	11.05
	Section 315	  	(a)	  	7.01(b)
		  	(b)	  	7.05
		  	(c)	  	7.01(a)
		  	(d)	  	7.01(c)
		  	(d)(1)	  	7.01(c)(1)
		  	(d)(2)	  	7.01(c)(2)
		  	(d)(3)	  	7.01(c)(3)
		  	(e)	  	6.11
	Section 316	  	(a)(1)(A)	  	6.05
		  	(a)(1)(B)	  	6.04
		  	(a)(2)	  	Not Applicable
		  	(a)(last sentence)	  	2.11

  
 i 

					
		  	(b)	  	6.07
	Section 316	  	(c)	  	9.04
	Section 317	  	(a)(1)	  	6.08
		  	(a)(2)	  	6.09
		  	(b)	  	2.06
	Section 318	  	(a)	  	11.01

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

  
 ii 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	 
	 SECTION 1.01 Definitions
	  	 	1	 
	 SECTION 1.02 Other Definitions
	  	 	9	 
	 SECTION 1.03 Incorporation by Reference of Trust Indenture Act
	  	 	9	 
	 SECTION 1.04 Rules of Construction
	  	 	10	 
	 SECTION 1.05 No Personal Liability of Directors, Officers, Employees, Limited Partners and
Shareholders
	  	 	10	 
		
	 ARTICLE II THE DEBT SECURITIES
	  	 	10	 
	 SECTION 2.01 Amount Unlimited; Issuable in Series
	  	 	10	 
	 SECTION 2.02 Denominations
	  	 	13	 
	 SECTION 2.03 Forms Generally
	  	 	13	 
	 SECTION 2.04 Execution, Authentication, Delivery and Dating
	  	 	14	 
	 SECTION 2.05 Registrar and Paying Agent
	  	 	16	 
	 SECTION 2.06 Paying Agent to Hold Money in Trust
	  	 	16	 
	 SECTION 2.07 Holder Lists
	  	 	16	 
	 SECTION 2.08 Transfer and Exchange
	  	 	17	 
	 SECTION 2.09 Replacement Debt Securities
	  	 	18	 
	 SECTION 2.10 Outstanding Debt Securities
	  	 	18	 
	 SECTION 2.11 Original Issue Discount, Foreign-Currency Denominated and Treasury Debt
Securities
	  	 	18	 
	 SECTION 2.12 Temporary Debt Securities
	  	 	19	 
	 SECTION 2.13 Cancellation
	  	 	19	 
	 SECTION 2.14 Payments; Defaulted Interest
	  	 	19	 
	 SECTION 2.15 Persons Deemed Owners
	  	 	20	 
	 SECTION 2.16 Computation of Interest
	  	 	20	 
	 SECTION 2.17 Global Debt Securities; Book-Entry Provisions
	  	 	20	 
		
	 ARTICLE III REDEMPTION
	  	 	22	 
	 SECTION 3.01 Applicability of Article
	  	 	22	 
	 SECTION 3.02 Notice to the Trustee
	  	 	22	 
	 SECTION 3.03 Selection of Debt Securities To Be Redeemed
	  	 	23	 
	 SECTION 3.04 Notice of Redemption
	  	 	23	 
	 SECTION 3.05 Effect of Notice of Redemption
	  	 	24	 
	 SECTION 3.06 Deposit of Redemption Price
	  	 	24	 
	 SECTION 3.07 Debt Securities Redeemed or Purchased in Part
	  	 	25	 
	 SECTION 3.08 Purchase of Debt Securities
	  	 	25	 
	 SECTION 3.09 Mandatory and Optional Sinking Funds
	  	 	25	 
		
	 ARTICLE IV COVENANTS
	  	 	25	 
	 SECTION 4.01 Payment of Debt Securities
	  	 	25	 
	 SECTION 4.02 Maintenance of Office or Agency
	  	 	26	 
	 SECTION 4.03 SEC Reports; Financial Statements
	  	 	26	 

  
 iii 

					
	 SECTION 4.04 Compliance Certificate
	  	 	27	 
	 SECTION 4.05 Waiver of Stay, Extension or Usury Laws
	  	 	27	 
	 SECTION 4.06 Limitations on Liens
	  	 	27	 
		
	 ARTICLE V SUCCESSORS
	  	 	28	 
	 SECTION 5.01 Limitations on Mergers, Consolidations
	  	 	28	 
	 SECTION 5.02 Successor Person Substituted
	  	 	28	 
		
	 ARTICLE VI DEFAULTS AND REMEDIES
	  	 	29	 
	 SECTION 6.01 Events of Default
	  	 	29	 
	 SECTION 6.02 Acceleration
	  	 	30	 
	 SECTION 6.03 Other Remedies
	  	 	31	 
	 SECTION 6.04 Waiver of Defaults
	  	 	31	 
	 SECTION 6.05 Control by Majority
	  	 	31	 
	 SECTION 6.06 Limitations on Suits
	  	 	32	 
	 SECTION 6.07 Rights of Holders to Receive Payment
	  	 	32	 
	 SECTION 6.08 Collection Suit by Trustee
	  	 	32	 
	 SECTION 6.09 Trustee May File Proofs of Claim
	  	 	32	 
	 SECTION 6.10 Priorities
	  	 	33	 
	 SECTION 6.11 Undertaking for Costs
	  	 	33	 
		
	 ARTICLE VII TRUSTEE
	  	 	34	 
	 SECTION 7.01 Duties of Trustee
	  	 	34	 
	 SECTION 7.02 Rights of Trustee
	  	 	35	 
	 SECTION 7.03 May Hold Debt Securities
	  	 	36	 
	 SECTION 7.04 Trustee’s Disclaimer
	  	 	36	 
	 SECTION 7.05 Notice of Defaults
	  	 	36	 
	 SECTION 7.06 Reports by Trustee to Holders
	  	 	36	 
	 SECTION 7.07 Compensation and Indemnity
	  	 	37	 
	 SECTION 7.08 Replacement of Trustee
	  	 	37	 
	 SECTION 7.09 Successor Trustee by Merger, etc.
	  	 	39	 
	 SECTION 7.10 Eligibility; Disqualification
	  	 	39	 
	 SECTION 7.11 Preferential Collection of Claims Against the Issuer or a Subsidiary
Guarantor
	  	 	40	 
		
	 ARTICLE VIII DISCHARGE OF INDENTURE; DEFEASANCE
	  	 	40	 
	 SECTION 8.01 Applicability of Article
	  	 	40	 
	 SECTION 8.02 Satisfaction and Discharge of Indenture; Defeasance
	  	 	40	 
	 SECTION 8.03 Conditions of Defeasance
	  	 	41	 
	 SECTION 8.04 Application of Trust Money
	  	 	43	 
	 SECTION 8.05 Repayment to Issuer
	  	 	43	 
	 SECTION 8.06 Indemnity for U.S. Government Obligations
	  	 	43	 
	 SECTION 8.07 Reinstatement
	  	 	43	 
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES AND AMENDMENTS
	  	 	43	 
	 SECTION 9.01 Without Consent of Holders
	  	 	43	 
	 SECTION 9.02 With Consent of Holders
	  	 	45	 

  
 iv 

					
	 SECTION 9.03 Compliance with Trust Indenture Act
	  	 	46	 
	 SECTION 9.04 Revocation and Effect of Consents
	  	 	47	 
	 SECTION 9.05 Notation on or Exchange of Debt Securities
	  	 	47	 
	 SECTION 9.06 Trustee to Sign Amendments, etc
	  	 	48	 
		
	 ARTICLE X GUARANTEE
	  	 	48	 
	 SECTION 10.01 Guarantee
	  	 	48	 
	 SECTION 10.02 Execution and Delivery of Guarantee
	  	 	50	 
	 SECTION 10.03 Limitation on Liability of the Subsidiary Guarantors
	  	 	50	 
	 SECTION 10.04 Release of Subsidiary Guarantors from Guarantee
	  	 	50	 
	 SECTION 10.05 Contribution
	  	 	51	 
		
	 ARTICLE XI MISCELLANEOUS
	  	 	51	 
	 SECTION 11.01 Trust Indenture Act Controls
	  	 	51	 
	 SECTION 11.02 Notices
	  	 	51	 
	 SECTION 11.03 Communication by Holders with Other Holders
	  	 	52	 
	 SECTION 11.04 Certificate and Opinion as to Conditions Precedent
	  	 	53	 
	 SECTION 11.05 Statements Required in Certificate or Opinion
	  	 	53	 
	 SECTION 11.06 Rules by Trustee and Agents
	  	 	53	 
	 SECTION 11.07 Legal Holidays
	  	 	53	 
	 SECTION 11.08 Governing Law
	  	 	54	 
	 SECTION 11.09 Waiver of Jury Trial.
	  	 	54	 
	 SECTION 11.10 No Adverse Interpretation of Other Agreements
	  	 	54	 
	 SECTION 11.11 Successors
	  	 	54	 
	 SECTION 11.12 Severability
	  	 	54	 
	 SECTION 11.13 Counterpart Originals
	  	 	54	 
	 SECTION 11.14 Table of Contents, Headings, etc
	  	 	54	 

  

  
 v 

 INDENTURE dated as of April 6, 2022, among Targa Resources Corp., a Delaware
corporation (the “Issuer”), the parties identified as “Subsidiary Guarantors” on the signature pages hereto (collectively, the “Subsidiary Guarantors”), and U.S. Bank Trust Company, National
Association, as trustee (the “Trustee”). 
 The Issuer and the Subsidiary Guarantors have duly authorized the
execution and delivery of this Indenture to provide for the issuance from time to time of the Issuer’s debentures, notes, bonds or other evidences of indebtedness to be issued in one or more series unlimited as to principal amount (herein
called the “Debt Securities”), and the Guarantee by each of the Subsidiary Guarantors of the Debt Securities, as in this Indenture provided. 

The Issuer and the Subsidiary Guarantors are members of the same consolidated group of companies. The Subsidiary Guarantors will derive direct
and indirect economic benefit from the issuance of the Debt Securities. Accordingly, each Subsidiary Guarantor has duly authorized the execution and delivery of this Indenture to provide for its full, unconditional and joint and several guarantee of
the Debt Securities to the extent provided in or pursuant to this Indenture. 
 All things necessary to make this Indenture a valid
agreement of the Issuer, in accordance with its terms, have been done. 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.01 Definitions. 

“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 purposes of this definition, “control” of a Person shall mean 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” shall have meanings correlative to the foregoing. 

“Agent” means any Registrar or Paying Agent. 

“Bankruptcy Law” means Title 11 of the United States Code or any similar federal, state or foreign law for the relief
of debtors. 
 “Board of Directors,” means the Board of Directors of Issuer or any authorized committee of the Board
of Directors of Issuer or any directors and/or officers of Issuer to whom such Board of Directors or such committee shall have duly delegated its authority to act hereunder. 

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

“Business Day” means any day that is not a Legal Holiday. 

“Capital Stock” means: 

  
 1 

 (1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company,
partnership or membership interests (whether general or limited); and 
 (4) any other interest or participation that confers
on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Certificated Debt Security” means a Debt Security (other than a Global Debt Security) issued in definitive registered
form. 
 “Consolidated Net Tangible Assets” means, at any date of determination, the total amount of assets of the
Issuer and its consolidated Subsidiaries after deducting therefrom: 
 (1) all current liabilities (excluding (A) any
current liabilities that by their terms are extendable or renewable at the option of the obligor thereon to a time more than twelve months after the time as of which the amount thereof is being computed, and (B) current maturities of long-term
debt); and 
 (2) the value (net of any applicable reserves) of all goodwill, trade names, trademarks, patents and other like
intangible assets, all as set forth, or on a pro forma basis would be set forth, on the consolidated balance sheet of the Issuer and its consolidated Subsidiaries for the Issuer’s most recently completed fiscal quarter for which financial
statements have been filed with the SEC, prepared in accordance with GAAP. 
 “Corporate Trust Office of the
Trustee” means the office of the Trustee located at 8 Greenway Plaza, Suite 1100, Houston, TX 77046-0892, Attention: Alejandro Hoyos, and as may be located at such other address as the Trustee may give notice to the Issuer and the
Subsidiary Guarantors. 
 “Credit Agreement” means that certain Credit Agreement, dated as of February 17,
2022, among the Issuer, Bank of America, N.A., as the administrative agent, collateral agent and swing line lender and the other agents and lenders party thereto, as the same may be further amended, restated, refinanced, replaced, renewed, refunded
or otherwise modified, in whole or in part, from time to time. 
 “Debt Securities” has the meaning stated in the
preamble of this Indenture and more particularly means any Debt Securities authenticated and delivered under this Indenture. 

“Default” means any event, act or condition that is, or after notice or the passage of time or both would be, an Event
of Default. 
 “Depositary” means, with respect to the Debt Securities of any series issuable or issued in whole or
in part in global form, the Person specified pursuant to Section 2.01 hereof as the initial Depositary with respect to the Debt Securities of such series, until a successor shall have been appointed and
become such pursuant to the applicable provision of this Indenture, and thereafter “Depositary” shall mean or include such successor. 

  
 2 

 “Dollar” or “$” means a dollar or other
equivalent unit in such coin or currency of the United States as at the time shall be legal tender for the payment of public and private debt. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor statute. 

“GAAP” means generally accepted accounting principles in the United States 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 may be
approved by a significant segment of the accounting profession of the United States, as in effect from time to time. 
 “Global
Debt Security” means a Debt Security that is issued in global form in the name of The Depository Trust Company, or the Depositary, or a nominee of the Depositary. Except as set forth herein, no Global Debt Securities shall be issuable
in certificated form. 
 “Government Obligations” means, with respect to a series of Debt Securities, direct
obligations of the government that issues the currency in which the Debt Securities of the series are payable for the payment of which the full faith and credit of such government is pledged, or obligations of a Person controlled or supervised by
and acting as an agency or instrumentality of such government, the payment of which is unconditionally guaranteed as a full faith and credit obligation by such government. 

“Guarantee” shall mean the guarantee of the Issuer’s obligations under the Debt Securities by a Subsidiary
Guarantor as provided in Article X. 
 “Holder” means a Person in whose name a Debt Security is
registered. 
 “Indebtedness” of any Person at any date means any obligation created or assumed by such person for
the repayment of borrowed money or any guaranty thereof. 
 “Indenture” means this Indenture as amended or
supplemented from time to time pursuant to the provisions hereof, and includes the terms of a particular series of Debt Securities established as contemplated by Section 2.01. 

“interest” means, with respect to an Original Issue Discount Security that by its terms bears interest only after
Maturity, interest payable after Maturity. 
 “Interest Payment Date,” when used with respect to any Debt Security,
shall have the meaning assigned to such term in the Debt Security as contemplated by Section 2.01. 

“Issue Date” means, with respect to Debt Securities of a series, the date on which the Debt Securities of such series
are originally issued under this Indenture. 

  
 3 

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

“Issuer Order” and “Issuer Request” mean, respectively, a written order or request signed in
the name of the Issuer by an Officer of Issuer and delivered to the Trustee. 
 “Joint Venture” means any Person
that is not a direct or indirect Subsidiary of ours in which we or any of our Subsidiaries owns Capital Stock. 
 “Legal
Holiday” means a Saturday, a Sunday or a day on which banking institutions in any of The City of New York, New York or a Place of Payment are authorized or obligated by law, regulation or executive order to remain closed. 

“Maturity” means, with respect to any Debt Security, the date on which the principal of such Debt Security or an
installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity thereof, or by declaration of acceleration, call for redemption or otherwise. 

“Non-Recourse Indebtedness” means any Indebtedness incurred by any Joint
Venture or Non-Recourse Subsidiary which does not provide for recourse against the Issuer or any of its Subsidiaries (other than a Non-Recourse Subsidiary) or any
property or asset of the Issuer or any of its Subsidiaries (other than the Capital Stock or the properties or assets of a Joint Venture or Non-Recourse Subsidiary). 

“Non-Recourse Subsidiary” means any Subsidiary of the Issuer (i) whose
principal purpose is to incur Non-Recourse Indebtedness and/or construct, lease, own or operate the assets financed in whole or in part thereby, or to become a direct or indirect partner, member or other
equity participant or owner in a partnership, limited partnership, limited liability partnership, corporation (including a business trust), limited liability company, unlimited liability company, joint stock company, trust, unincorporated
association or joint venture created for such purpose (collectively, a “Business Entity”), (ii) who is not an obligor or otherwise bound with respect to any Indebtedness other than
Non-Recourse Indebtedness, (iii) the majority of the assets of which Subsidiary or Business Entity are limited to (x) those assets being financed (or to be financed), or the operation of which is
being financed (or to be financed), in whole or in part by Non-Recourse Indebtedness, (y) Capital Stock in, or Indebtedness or other obligations of, one or more other
Non-Recourse Subsidiaries or Business Entities or (z) other assets reasonably related thereto and (iv) any Subsidiary of a Non-Recourse Subsidiary;
provided that such Subsidiary shall be considered to be a Non-Recourse Subsidiary only to the extent that and for so long as each of the above requirements are met. 

“Notice of Default” means a written notice specifying the Default, demand that it be remedied and state that the
notice is a “Notice of Default”. 
 “Officer” means the Chairman of the Board, any Chief Executive
Officer, the President, any Vice Chairman of the Board, any Vice President, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant Secretary of a Person. 

  
 4 

 “Officer’s Certificate” means a
certificate signed by an Officer of a Person. 
 “Opinion of Counsel” means a written opinion from legal counsel who
is acceptable to the Trustee. Such counsel may be an employee of or counsel to the Issuer, a Subsidiary Guarantor or the Trustee. 

“Original Issue Discount Security” means any Debt 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 6.02. 

“Permitted Liens” means: 

(1) Liens upon rights-of-way for pipeline
purposes; 
 (2) easements, rights-of-way,
restrictions and other similar encumbrances incurred in the ordinary course of business and encumbrances consisting of zoning restrictions, easements, licenses, restrictions on the use of real property or minor imperfections in title thereto and
which do not in the aggregate materially adversely affect the value of the properties encumbered thereby or materially impair their use in the operation of the business of the Issuer and its Subsidiaries; 

(3) rights reserved to or vested by any provision of law in any municipality or public authority to control or regulate any of
the properties of the Issuer or any Subsidiary or the use thereof or the rights and interests of the Issuer or any Subsidiary therein, in any manner under any and all laws; 

(4) rights reserved to the grantors of any properties of the Issuer or any Subsidiary, and the restrictions, conditions,
restrictive covenants and limitations, in respect thereto, pursuant to the terms, conditions and provisions of any rights-of-way agreements, contracts or other
agreements therewith; 
 (5) any statutory or governmental Lien or Lien arising by operation of law, or any mechanics’,
repairmen’s, materialmen’s, suppliers’, carriers’, landlords’, warehousemen’s or similar Lien incurred in the ordinary course of business which is not more than sixty (60) days past due or which is being contested
in good faith by appropriate processes or proceedings and any undetermined Lien which is incidental to construction, development, improvement or repair; 

(6) any right reserved to, or vested in, any municipality or public authority by the terms of any right, power, franchise,
grant, license, permit or by any provision of law, to purchase or recapture or to designate a purchaser of, any property; 

(7) Liens for taxes and assessments which are (a) for the then current year, (b) not at the time delinquent, or
(c) delinquent but the validity or amount of which is being contested at the time by the Issuer or any of its Subsidiaries in good faith by appropriate processes or proceedings; 

(8) Liens of, or to secure performance of, leases; 

  
 5 

 (9) any Lien in favor of the Issuer or any Subsidiary; 

(10) with respect to any series of Debt Securities, any Lien upon any property or assets of the Issuer or any Subsidiary in
existence on the date of the initial issuance of such Debt Securities; 
 (11) any Lien incurred in the ordinary course of
business in connection with workmen’s compensation, unemployment insurance, temporary disability, social security, retiree health or similar laws or regulations or to secure obligations imposed by statute or governmental regulations; 

(12) Liens in favor of any person to secure obligations under provisions of any letters of credit, bank guarantees, bonds or
surety obligations required or requested by any governmental authority in connection with any contract or statute, provided that such obligations do not constitute Indebtedness; or any Lien upon or deposits of any assets to secure performance of
bids, trade contracts, leases or statutory obligations, and other obligations of a like nature incurred in the ordinary course of business; 

(13) any Lien upon any property or assets created at the time of acquisition of such property or assets by the Issuer or any of
its Subsidiaries or within one year after such time to secure all or a portion of the purchase price for such property or assets or debt incurred to finance such purchase price, whether such debt was incurred prior to, at the time of or within one
year after the date of such acquisition; 
 (14) any Lien upon any property or assets to secure all or part of the cost of
construction, development, repair or improvements thereon or to secure Indebtedness incurred prior to, at the time of, or within one year after completion of such construction, development, repair or improvements or the commencement of full
operations thereof (whichever is later), to provide funds for any such purpose; 
 (15) any Lien upon any property or assets
existing thereon at the time of the acquisition thereof by the Issuer or any of its Subsidiaries and any Lien upon any property or assets of a person existing thereon at the time such person becomes a Subsidiary of the Issuer by acquisition, merger
or otherwise; provided that, in each case, such Lien only encumbers the property or assets so acquired or owned by such person at the time such person becomes a Subsidiary; 

(16) Liens imposed by law or order as a result of any proceeding before any court or regulatory body that is being contested in
good faith, and Liens which secure a judgment or other court-ordered award or settlement as to which the Issuer or the applicable Subsidiary has not exhausted its appellate rights; 

(17) any extension, renewal, refinancing, refunding or replacement (or successive extensions, renewals, refinancing, refunding
or replacements) of Liens, in whole or in part, referred to in clauses (1) through (16) above; provided, however, that any such extension, renewal, refinancing, refunding or
replacement Lien shall be limited to the property or assets covered by the Lien extended, renewed, refinanced, refunded or replaced and that the obligations secured by any such extension, renewal, refinancing, refunding or replacement Lien shall be
in an amount not greater than the amount of the obligations secured by the Lien extended, renewed, refinanced, refunded or replaced and any expenses of the Issuer or its Subsidiaries (including any premium) incurred in connection with such
extension, renewal, refinancing, refunding or replacement; 

  
 6 

 (18) any Lien on property or assets, or pledges of Capital Stock, of
(a) any Joint Venture owned by the Issuer or any of its Subsidiaries or (b) any Non-Recourse Subsidiary, in each case only to the extent securing Non-Recourse
Indebtedness of such Joint Venture or Non-Recourse Subsidiary; and 
 (19) any Lien
resulting from the deposit of moneys or evidence of indebtedness in trust for the purpose of defeasing Indebtedness of the Issuer or any of its Subsidiaries. 

“Person” means any individual, corporation, partnership, limited liability company, joint venture, incorporated or
unincorporated association, joint stock company, trust, unincorporated organization or government or other agency, instrumentality or political subdivision thereof or other entity of any kind. 

“Place of Payment” means, with respect to the Debt Securities of any series, the place or places where the principal
of, premium (if any) and interest on the Debt Securities of that series are payable as specified in accordance with Section 2.01 subject to the provisions of
Section 4.02. 
 “principal” of a Debt Security means the principal
of the Debt Security plus, when appropriate, the premium, if any, on the Debt Security. 
 “Principal Property”
means, whether owned or leased on the date of the initial issuance of any series of Debt Securities or thereafter acquired: 

(1) any pipeline assets of the Issuer or any of its Subsidiaries, including any related facilities employed in the gathering,
transportation, distribution, storage or marketing of natural gas, refined petroleum products, natural gas liquids and petrochemicals, that are located in the United States of America; and 

(2) any processing, compression, treating, blending or manufacturing plant or terminal owned or leased by the Issuer or any of
its Subsidiaries that is located in the United States or any territory or political subdivision thereof, except in the case of either of the preceding clause (1) or this
clause (2): 
 (a) any such assets consisting of inventories, furniture,
office fixtures and equipment (including data processing equipment), vehicles and equipment used on, or useful with, vehicles; and 

(b) any such assets which, in the good faith opinion of the Issuer, are not material in relation to the activities of the
Issuer and its Subsidiaries taken as a whole. 
 “Redemption Date” means, with respect to any Debt Security to be
redeemed, the date fixed for such redemption by or pursuant to this Indenture. 

  
 7 

 “Redemption Price” means, with respect to any Debt Security to be
redeemed, the price at which it is to be redeemed pursuant to this Indenture. 
 “Responsible Officer” 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, 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. 
 “Restricted Subsidiary” means any Subsidiary
owning or leasing, directly or indirectly through ownership in another Subsidiary, any Principal Property. 
 “SEC”
means the Securities and Exchange Commission. 
 “Security Custodian” means, with respect to Debt Securities of a
series issued in global form, the Trustee for Debt Securities of such series, as custodian with respect to the Debt Securities of such series, or any successor entity thereto. 

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

“Subsidiary” means, with respect to any Person, any corporation, association or business entity of which more than 50%
of the total voting power of the equity interests entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, or trustees thereof or any partnership of which more than 50% of the partners’
equity interests (considering all partners’ equity interests as a single class) is, in each case, at the time owned or controlled, directly or indirectly, by such Person or one or more Subsidiaries of such Person or combination thereof. 

“Subsidiary Guarantors” means the Person or Persons identified as the “Subsidiary Guarantors”
on the signature pages of this instrument until a successor Person or Persons shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Subsidiary Guarantors” shall mean such successor
Person or Persons, and any other Subsidiary of the Issuer who may execute this Indenture, or a supplement thereto, for the purpose of providing a Guarantee of Debt Securities pursuant to this Indenture. 

“TIA” means the Trust Indenture Act of 1939, as amended, as in effect on the date hereof; provided, however, that if
the TIA is amended after the date hereof, “TIA” means, to the extent required by any such amendment, the TIA as so amended. 

“Trustee” means the Person named as such above until a successor replaces it in accordance with the applicable
provisions of this Indenture, and thereafter “Trustee” means each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, 

  
 8 

 
“Trustee” as used with respect to the Debt Securities of any series means the Trustee with respect to Debt Securities of that series. 

“U.S. Government Obligations” means Government Obligations with respect to Debt Securities payable in Dollars. 

“United States” means the United States of America (including the States and the District of Columbia) and its
territories and possessions, which include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. 

SECTION 1.02 Other Definitions. 
  

					
	 TERM
	  	DEFINED
IN
SECTION	 
	 “Agent Members”
	  	 	2.17	 
	 “Bankruptcy Custodian”
	  	 	6.01	 
	 “covenant defeasance option”
	  	 	8.01	 
	 “Event of Default”
	  	 	6.01	 
	 “Excluded Subsidiary”
	  	 	4.06	 
	 “Funding Guarantor”
	  	 	10.05	 
	 “legal defeasance option”
	  	 	8.01	 
	 “Liens”
	  	 	4.06	 
	 “mandatory sinking fund payment”
	  	 	3.09	 
	 “optional sinking fund payment”
	  	 	3.09	 
	 “Paying Agent”
	  	 	2.05	 
	 “Registrar”
	  	 	2.05	 
	 “Successor”
	  	 	5.01	 

 SECTION 1.03 Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture (and
if this Indenture is not qualified under the TIA at that time, as if it were so qualified unless otherwise provided). The following TIA terms used in this Indenture have the following meanings: 

“Commission” means the SEC. 

“indenture securities” means the Debt Securities. 

“indenture security holder” means a Holder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” means the Issuer, any Subsidiary Guarantor or any other obligor on the Debt Securities. 

  
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 All terms used in this Indenture that are defined by the TIA, defined by a TIA reference to
another statute or defined by an SEC rule under the TIA have the meanings so assigned to them. 
 SECTION 1.04 Rules of
Construction. 
 Unless the context otherwise requires: 

(1) a term has the meaning assigned to it; 

(2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(3) “or” is not exclusive; 

(4) words in the singular include the plural, and in the plural include the singular; 

(5) provisions apply to successive events and transactions; and 

(6) all references in this instrument to Articles and Sections are references to the corresponding Articles and Sections in and
of this instrument. 
 SECTION 1.05 No Personal Liability of Directors, Officers, Employees, Limited Partners and Shareholders.

 The Trustee, and each Holder of a Debt Security by its acceptance thereof, will be deemed to have agreed in this Indenture that no
director, officer, employee, limited partner or shareholder, as such, of the Issuer shall have any personal liability in respect of the obligations of the Issuer and the Subsidiary Guarantors under this Indenture or the Debt Securities issued
hereunder by reason of his, her or its status. 
 ARTICLE II 

THE DEBT SECURITIES 

SECTION 2.01 Amount Unlimited; Issuable in Series. 

The aggregate principal amount of Debt Securities that may be authenticated and delivered under this Indenture is unlimited. 

The Debt Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution, and set forth, or
determined in the manner provided, in an Officer’s Certificate of Issuer or in a Issuer Order, or established in one or more indentures supplemental hereto, prior to the issuance of Debt Securities of any series: 

(1) the title and ranking of the Debt Securities of the series (which shall distinguish the Debt Securities of the series from
the Debt Securities of all other series) (including the terms of any subordination provisions); 

  
 10 

 (2) whether any Debt Securities of the series are to be issuable initially
in temporary global form and whether any Debt Securities of the series are to be issuable in permanent global form, as Global Debt Securities or otherwise, and, if so, whether beneficial owners of interests in any such Global Debt Security may
exchange such interests for Debt Securities of such series and of like tenor of any authorized form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section 2.17, and the
initial Depositary and Security Custodian, if any, for any Global Debt Security or Securities of such series; 
 (3) if there
is to be a limit, the limit upon the aggregate principal amount of the Debt Securities of the series that may be authenticated and delivered under this Indenture (except for Debt Securities authenticated and delivered upon registration of transfer
of, or in exchange for, or in lieu of, other Debt Securities of the series pursuant to Section 2.08, 2.09, 2.12, 2.17, 3.07 or 9.05
and except for any Debt Securities which, pursuant to Section 2.04 or 2.17, are deemed never to have been authenticated and delivered hereunder); provided, however, that unless otherwise
provided in the terms of the series, the authorized aggregate principal amount of such series may be increased before or after the issuance of any Debt Securities of the series by a Board Resolution (or action pursuant to a Board Resolution) to such
effect; 
 (4) the date or dates on which the principal of and premium (if any) on the Debt Securities of the series is
payable or method of determination thereof; 
 (5) the rate or rates (which may be fixed or variable) per annum, or the
method of determination thereof (including any commodity, commodity index, stock exchange index or financial index), at which the Debt Securities of the series shall bear interest, the date or dates from which such interest shall accrue, the date or
dates on which interest will commence and be payable and any regular record date for the interest payable on any Interest Payment Date, or if other than provided herein, the Person to whom any interest on Debt Securities of the series shall be
payable; 
 (6) the place or places where, subject to the provisions of
Section 4.02, the principal of, premium (if any) and interest on, the Debt Securities will be payable (and the method of such payment), where Debt Securities of such series may be surrendered for
registration of transfer or exchange, and where notices and demands to the Issuer in respect of the Debt Securities may be delivered with respect to the Debt Securities of the series shall be payable; 

(7) the period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and
the terms and conditions upon which Debt Securities of the series may be redeemed, in whole or in part, at the option of the Issuer, if the Issuer is to have that option, and the manner in which the Issuer must exercise any such option, if different
from those set forth herein; 
 (8) whether Debt Securities of the series are entitled to the benefits of any Guarantee of
any Subsidiary Guarantor pursuant to this Indenture, including the terms of subordination, if any, of such Guarantees; 

  
 11 

 (9) the obligation, if any, of the Issuer to redeem, purchase or repay the
Debt Securities of the series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and
the terms and conditions upon which Debt Securities of the series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation; 

(10) if applicable, the dates on which and the price or prices at which the Debt Securities may be repurchased at the option of
the Holders of Debt Securities of the series and other detailed terms and provisions of these repurchase obligations; 
 (11)
if other than minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof, the denomination in which any Debt Securities of that series shall be issuable; 

(12) the portion of principal amount of the Debt Securities payable upon declaration of acceleration of the Maturity Date
thereof pursuant to Section 6.02, if other than the principal amount; 
 (13)
any additional means of satisfaction and discharge of this Indenture and any additional conditions or limitations to discharge with respect to Debt Securities of the series and the related Guarantees pursuant to Article VIII or any modifications of
or deletions from such conditions or limitations; 
 (14) the currency of denomination of the Debt Securities if other than
United States dollars, which may be any foreign currency, and if such currency of denomination is a composite currency, the agency or organization, if any, responsible for overseeing such composite currency; 

(15) if other than United States dollars, the designation of the currency, currencies or currency units in which payment of
principal of and interest, premium (if any) on the Debt Securities will be made; 
 (16) any provisions relating to any
security provided for the Debt Securities; 
 (17) any addition to, deletion of or change in the Events of Default set forth
in Section 6.01 with respect to the Debt Securities and any change in the acceleration provisions described in Section 6.02 with respect to the Debt
Securities or covenants of the Issuer or any Subsidiary Guarantor set forth in Article IV pertaining to the Debt Securities of the series; 

(18) any depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to the
Debt Securities; 
 (19) any restrictions or other provisions with respect to the transfer or exchange of Debt Securities of
the series, which may amend, supplement, modify or supersede those contained in this Article II; 

  
 12 

 (20) the provisions, if any, relating to conversion or exchange of any Debt
Securities of such series, including if applicable, the conversion or exchange price and period, provisions as to whether conversion or exchange will be mandatory, the events requiring an adjustment of the conversion or exchange price and provisions
affecting conversion or exchange; and 
 (21) any other terms of the Debt Securities, which may supplement, modify or delete
any provision of this Indenture as it applies to that series, including any terms that may be required under applicable law or regulations or advisable in connection with the marketing of the securities. 

All Debt Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or
pursuant to the Board Resolution referred to above and (subject to Section 2.03) set forth, or determined in the manner provided, in the Officer’s Certificate or Issuer Order referred to above or
in any such indenture supplemental hereto. 
 If any of the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action, together with such Board Resolution, shall be set forth in an Officer’s Certificate or certified by the Secretary or an Assistant Secretary of Issuer and delivered to the Trustee at or
prior to the delivery of the Officer’s Certificate or Issuer Order setting forth the terms of the series. 
 SECTION 2.02
Denominations. 
 The Debt Securities of each series shall be issuable in such denominations as shall be specified as contemplated by
Section 2.01. In the absence of any such provisions with respect to the Debt Securities of any series, the Debt Securities of such series denominated in Dollars shall be issuable in minimum
denominations of $2,000 and integral multiples of $1,000 in excess thereof. 
 SECTION 2.03 Forms Generally. 

Each Debt Security shall be represented by either one or more Global Debt Securities or Certificated Debt Securities. The Debt Securities of
each series shall be in fully registered form and in substantially such form or forms (including temporary or permanent global form) established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto. The Debt
Securities may have notations, legends or endorsements required by law, securities exchange rule, the Issuer’s certificate of incorporation, bylaws or other similar governing documents, agreements to which the Issuer is subject, if any, or
usage (provided that any such notation, legend or endorsement is in a form acceptable to the Issuer). A copy of the Board Resolution, if any, establishing the form or forms of Debt Securities of any series shall be delivered to the Trustee at or
prior to the delivery of the Issuer Order contemplated by Section 2.04 for the authentication and delivery of such Debt Securities. 

The definitive Debt Securities of each series 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 Debt Securities, as evidenced by their execution thereof. 

  
 13 

 The Trustee’s certificate of authentication shall be in substantially the following
form: 
 “This is one of the Debt Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	
                     

	Authorized Signatory”.

 SECTION 2.04 Execution, Authentication, Delivery and Dating. 

An Officer of the Issuer shall sign the Debt Securities on behalf of the Issuer by manual or facsimile signature. 

If an Officer of the Issuer whose signature is on a Debt Security no longer holds that office at the time the Debt Security is authenticated,
the Debt Security shall be valid nevertheless. 
 A Debt Security shall not be entitled to any benefit under this Indenture or the related
Guarantees or be valid or obligatory for any purpose until it is authenticated by the manual signature of an authorized signatory of the Trustee, which signature shall be conclusive evidence that the Debt Security has been authenticated under this
Indenture. Notwithstanding the foregoing, if any Debt Security has been authenticated and delivered hereunder but never issued and sold by the Issuer, and the Issuer delivers such Debt Security to the Trustee for cancellation as provided in
Section 2.13, together with a written statement (which need not comply with Section 11.05 and need not be accompanied by an Opinion of Counsel) stating
that such Debt Security has never been issued and sold by the Issuer, for all purposes of this Indenture such Debt Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this
Indenture or the related Guarantees. 
 At any time and from time to time after the execution and delivery of this Indenture, the Issuer may
deliver Debt Securities of any series executed by the Issuer to the Trustee for authentication, and the Trustee shall authenticate and deliver such Debt Securities for original issue upon an Issuer Order for the authentication and delivery of such
Debt Securities or pursuant to such procedures acceptable to the Trustee as may be specified from time to time by Issuer Order. Such order shall specify the amount of the Debt Securities to be authenticated, the date on which the original issue of
Debt Securities is to be authenticated, the name or names of the initial Holder or Holders and any other terms of the Debt Securities of such series not otherwise determined. If provided for in such procedures, such Issuer Order may authorize
(1) authentication and delivery of Debt Securities of such series for original issue from time to time, with certain terms (including, without limitation, the Maturity dates or dates, original issue date or dates and interest rate or rates)
that differ from Debt Security to Debt Security and (2) authentication and delivery pursuant to oral or electronic instructions from the Issuer or its duly authorized agent, which instructions shall be promptly confirmed in writing. 

  
 14 

 If the form or terms of the Debt Securities of the series have been established in or
pursuant to one or more Board Resolutions as permitted by Section 2.01, in authenticating such Debt Securities, and accepting the additional responsibilities under this Indenture in relation to such
Debt Securities, the Trustee shall be entitled to receive (in addition to the Issuer Order referred to above and the other documents required by Section 11.04), and (subject to
Section 7.01) shall be fully protected in relying upon: 
 (a) an Officer’s Certificate
setting forth the Board Resolution and, if applicable, an appropriate record of any action taken pursuant thereto, as contemplated by the last paragraph of Section 2.01; and 

(b) an Opinion of Counsel to the effect that: 

(i) the form of such Debt Securities has been established in conformity with the provisions of this Indenture; 

(ii) the terms of such Debt Securities have been established in conformity with the provisions of this Indenture; and 

(iii) 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, such Debt Securities and the related Guarantees will constitute valid and binding obligations of the Issuer and the Subsidiary Guarantors, respectively, enforceable against the Issuer and the Subsidiary Guarantors, respectively,
in accordance with their respective terms, except as the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws in effect from time to time affecting the
rights of creditors generally, and the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

If all the Debt Securities of any series are not to be issued at one time, it shall not be necessary to deliver an Officer’s Certificate
and Opinion of Counsel at the time of issuance of each such Debt Security, but such Officer’s Certificate and Opinion of Counsel shall be delivered at or before the time of issuance of the first Debt Security of the series to be issued. 

The Trustee shall not be required to authenticate such Debt Securities if the issuance of such Debt Securities pursuant to this Indenture
would affect the Trustee’s own rights, duties or immunities under the Debt Securities and this Indenture or otherwise in a manner not reasonably acceptable to the Trustee. 

The Trustee may appoint an authenticating agent acceptable to the Issuer to authenticate Debt Securities. Unless limited by the terms of such
appointment, an authenticating agent may authenticate Debt Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same
rights as an Agent to deal with the Issuer, any Subsidiary Guarantor or an Affiliate of the Issuer or any Subsidiary Guarantor. 
 Each Debt
Security shall be dated the date of its authentication. 

  
 15 

 SECTION 2.05 Registrar and Paying Agent. 

The Issuer shall maintain an office or agency for each series of Debt Securities where Debt Securities of such series may be presented for
registration of transfer or exchange (“Registrar”) and an office or agency where Debt Securities of such series may be presented for payment (“Paying Agent”). The Registrar shall keep a register of the
Debt Securities of such series and of their transfer and exchange. The Issuer may appoint one or more co-registrars and one or more additional paying agents. The term “Registrar”
includes any co-registrar and the term “Paying Agent” includes any additional paying agent. 

The Issuer shall enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture. The agreement
shall implement the provisions of this Indenture that relate to such Agent. The Issuer shall notify the Trustee of the name and address of any Agent not a party to this Indenture. The Issuer may change any Paying Agent or Registrar without notice to
any Holder. If the Issuer fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Issuer, any Subsidiary Guarantor or any Subsidiary may act as Paying Agent or Registrar. 

The Issuer initially appoints the Trustee as Registrar and Paying Agent. 

SECTION 2.06 Paying Agent to Hold Money in Trust. 

The Issuer shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the benefit
of Holders or the Trustee all money held by the Paying Agent for the payment of principal of, premium, if any, or interest on Debt Securities and will notify the Trustee of any default by the Issuer in making any such payment. While any such default
continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any
funds disbursed. Upon payment over to the Trustee and upon accounting for any funds disbursed, the Paying Agent (if other than the Issuer, a Subsidiary Guarantor or a Subsidiary) shall have no further liability for the money. If the Issuer, a
Subsidiary Guarantor or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Each Paying Agent shall otherwise comply with TIA
Section 317(b). 
 SECTION 2.07 Holder Lists. 

The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses
of Holders and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar with respect to a series of Debt Securities, the Issuer shall furnish to the Trustee at least five Business Days before each Interest Payment
Date with respect to such series of Debt Securities, and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders of such series,
and the Issuer shall otherwise comply with TIA Section 312(a). 

  
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 SECTION 2.08 Transfer and Exchange. 

Except as set forth in Section 2.17 or as may be provided pursuant to
Section 2.01: 
 When Debt Securities of any series are presented to the Registrar with the
request to register the transfer of such Debt Securities or to exchange such Debt Securities for an equal principal amount of Debt Securities of the same series of like tenor and of other authorized denominations, the Registrar shall register the
transfer or make the exchange as requested if its requirements and the requirements of this Indenture for such transactions are met; provided, however, that the Debt Securities presented or surrendered for registration of transfer or exchange shall
be duly endorsed or accompanied by a written instruction of transfer in form reasonably satisfactory to the Registrar duly executed by the Holder thereof or by his attorney, duly authorized in writing, on which instruction the Registrar can rely.

 To permit registrations of transfers and exchanges, the Issuer and the Subsidiary Guarantors shall execute and the Trustee shall
authenticate Debt Securities at the Registrar’s written request and submission of the Debt Securities or Global Debt Securities. No service charge shall be made to a Holder for any registration of transfer or exchange (except as otherwise
expressly permitted herein), but the Issuer may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than such transfer tax or similar governmental charge payable upon
exchanges pursuant to Section 2.12, 3.07 or 9.05). The Trustee shall authenticate Debt Securities in accordance with the provisions of
Section 2.04. Notwithstanding any other provisions of this Indenture to the contrary, (i) the Issuer shall not be required to register the transfer or exchange of (a) any Debt Security
selected for redemption in whole or in part pursuant to Article III, except the unredeemed portion of any Debt Security being redeemed in part, or (b) any Debt Security during the period beginning
15 Business Days prior to the mailing of notice of any offer to repurchase Debt Securities of the series required pursuant to the terms thereof or of redemption of Debt Securities of a series to be redeemed and ending at the close of business on the
day of mailing; and (ii) the transfer of any Certificated Debt Securities and the right to receive the principal of and interest and premium (if any) on such Certificated Debt Securities shall only be effected by surrendering the certificate
representing such Certificated Debt Securities and either reissuance by the Issuer or the Trustee of the certificate to the new Holder or the issuance by the Issuer or the Trustee of a new certificate to the new Holder. 

Each Holder of a Debt Security agrees to indemnify the Issuer, the Trustee and the Subsidiary Guarantors against any liability that may result
from the transfer, exchange or assignment of such Holder’s Debt Securities in violation of any provision of this Indenture and/or applicable United States Federal or state securities law. 

The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Indenture or under applicable law with respect to any transfer of any interest in any Debt Security (including any transfers between or among Agent Members or beneficial owners of interests in any Global Debt Security) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with
the express requirements hereof. 

  
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 SECTION 2.09 Replacement Debt Securities. 

If any mutilated Debt Security is surrendered to the Trustee, or if the Holder of a Debt Security claims that the Debt Security has been
destroyed, lost or stolen and the Issuer and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of such Debt Security, the Issuer shall issue, and the Subsidiary Guarantors shall execute and the Trustee shall
authenticate a replacement Debt Security of the same series if the Trustee’s requirements are met. If any such mutilated, destroyed, lost or stolen Debt Security has become or is about to become due and payable, the Issuer in its discretion
may, instead of issuing a new Debt Security, pay such Debt Security. If required by the Trustee, any Subsidiary Guarantor or the Issuer, such Holder must furnish an indemnity bond that is sufficient in the judgment of the Trustee and the Issuer to
protect the Issuer, each Subsidiary Guarantor, the Trustee, any Agent or any authenticating agent from any loss that any of them may suffer if a Debt Security is replaced. The Issuer and the Trustee may charge a Holder for their expenses in
replacing a Debt Security. 
 Every replacement Debt Security is an additional obligation of the Issuer. 

SECTION 2.10 Outstanding Debt Securities. 

The Debt Securities outstanding at any time are all the Debt Securities authenticated by the Trustee except for those canceled by it, those
delivered to it for cancellation, those reductions in the interest in a Global Debt Security effected by the Trustee hereunder and those described in this Section 2.10 as not outstanding. 

If a Debt Security is replaced pursuant to Section 2.09, it ceases to be outstanding unless the
Trustee receives proof satisfactory to it that the replaced Debt Security is held by a bona fide purchaser. 
 If the principal amount of
any Debt Security is considered paid under Section 4.01, it ceases to be outstanding and interest on it ceases to accrue. 

A Debt Security does not cease to be outstanding because the Issuer, a Subsidiary Guarantor or an Affiliate of the Issuer or a Subsidiary
Guarantor holds the Debt Security. 
 SECTION 2.11 Original Issue Discount, Foreign-Currency Denominated and Treasury Debt
Securities. 
 In determining whether the Holders of the required principal amount of Debt Securities have concurred in any direction,
amendment, supplement, waiver or consent, (a) the principal amount of an Original Issue Discount Security shall be the principal amount thereof that would be due and payable as of the date of such determination upon acceleration of the Maturity
thereof pursuant to Section 6.02, (b) the principal amount of a Debt Security denominated in a foreign currency shall be the Dollar equivalent, as determined by the Issuer by reference to the noon
buying rate in The City of New York for cable transfers for such currency, as such rate is certified for customs purposes by the Federal Reserve Bank of New York on the date of original issuance of such Debt Security, of the principal amount (or, in
the case of an Original Issue Discount Security, the Dollar equivalent, as determined by the Issuer by reference to the exchange rate on the date of original issuance of such Debt Security, of the amount determined as provided in clause
(a) above), 

  
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of such Debt Security and (c) Debt Securities owned by the Issuer, a Subsidiary Guarantor or any other obligor upon the Debt Securities or any Affiliate of the Issuer, of a Subsidiary
Guarantor or of such other obligor shall be disregarded, except that, for the purpose of determining whether the Trustee shall be protected in relying upon any such direction, amendment, supplement, waiver or consent, only Debt Securities that a
Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. 
 SECTION 2.12 Temporary Debt
Securities. 
 Until definitive Debt Securities of any series are ready for delivery, the Issuer may prepare, and the Subsidiary
Guarantors shall execute and the Trustee shall authenticate temporary Debt Securities. Temporary Debt Securities shall be substantially in the form of definitive Debt Securities, but may have variations that the Issuer considers appropriate for
temporary Debt Securities. Without unreasonable delay, the Issuer shall prepare, and the Subsidiary Guarantors shall execute and the Trustee shall authenticate definitive Debt Securities in exchange for temporary Debt Securities. Until so exchanged,
the temporary Debt Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Debt Securities. 

SECTION 2.13 Cancellation. 

The Issuer or any Subsidiary Guarantor at any time may deliver Debt Securities to the Trustee for cancellation. The Registrar and the Paying
Agent shall forward to the Trustee any Debt Securities surrendered to them for registration of transfer, exchange, payment or redemption or for credit against any sinking fund payment. The Trustee shall cancel all Debt Securities surrendered for
registration of transfer, exchange, payment, redemption, replacement or cancellation or for credit against any sinking fund. Unless the Issuer shall direct in writing that canceled Debt Securities be returned to it, after written notice to the
Issuer all canceled Debt Securities held by the Trustee shall be disposed of in accordance with the usual disposal procedures of the Trustee, and the Trustee shall maintain a record of their disposal. The Issuer may not issue new Debt Securities to
replace Debt Securities that have been paid or that have been delivered to the Trustee for cancellation. 
 SECTION 2.14 Payments;
Defaulted Interest. 
 Unless otherwise provided as contemplated by Section 2.01,
interest (except defaulted interest) on any Debt Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Persons who are registered Holders of that Debt Security at the close of
business on the record date next preceding such Interest Payment Date, even if such Debt Securities are canceled after such record date and on or before such Interest Payment Date. The Holder must surrender a Debt Security to a Paying Agent to
collect principal payments. Unless otherwise provided with respect to the Debt Securities of any series, the Issuer will pay the principal of, premium (if any) and interest on the Debt Securities in Dollars. Such amounts shall be payable at the
offices of the Trustee or any Paying Agent, provided that at the option of the Issuer, the Issuer may pay such amounts (1) by wire transfer with respect to Global Debt Securities or (2) by check payable in such money mailed to a
Holder’s registered address with respect to any Debt Securities. 

  
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 If the Issuer defaults in a payment of interest on the Debt Securities of any series, the
Issuer shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest on the defaulted interest, in each case at the rate provided in the Debt Securities of such series and in
Section 4.01. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record date, provided that no special record date shall be required for interest paid
within an applicable grace period. At least 15 days before any special record date selected by the Issuer, the Issuer (or the Trustee, in the name of and at the expense of the Issuer upon 20 days’ prior written notice from the Issuer setting
forth such special record date and the interest amount to be paid) shall mail to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 

SECTION 2.15 Persons Deemed Owners. 

The Issuer, the Subsidiary Guarantors, the Trustee, any Agent and any authenticating agent may treat the Person in whose name any Debt
Security is registered as the owner of such Debt Security for the purpose of receiving payments of principal of, premium (if any) or interest such Debt Security and for all other purposes. None of the Issuer, any Subsidiary Guarantor, the Trustee,
any Agent or any authenticating agent shall be affected by any notice to the contrary. 
 SECTION 2.16 Computation of Interest.

 Except as otherwise specified as contemplated by Section 2.01 for Debt Securities of any
series, interest on the Debt Securities of each series shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 

SECTION 2.17 Global Debt Securities; Book-Entry Provisions. 

If Debt Securities of a series are issuable in global form as a Global Debt Security, as contemplated by
Section 2.01, then, notwithstanding the provisions of Section 2.02, any such Global Debt Security shall represent such of the outstanding Debt Securities
of such series as shall be specified therein and may provide that it shall represent the aggregate amount of outstanding Debt Securities from time to time endorsed thereon and that the aggregate amount of outstanding Debt Securities represented
thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges, transfers or redemptions. Any endorsement of a Global Debt Security to reflect the amount, or any increase or decrease in the amount, of outstanding Debt
Securities represented thereby shall be made by the Trustee (i) in such manner and upon instructions given by such Person or Persons as shall be specified in such Debt Security or in an Issuer Order to be delivered to the Trustee pursuant to
Section 2.04 or (ii) otherwise in accordance with written instructions or such other written form of instructions as is customary for the Depositary for such Debt Security, from such Depositary or
its nominee on behalf of any Person having a beneficial interest in such Global Debt Security. Subject to the provisions of Section 2.04 and, if applicable,
Section 2.12, the Trustee shall deliver and redeliver any Debt Security in permanent global form in the manner and upon instructions given by the Person or Persons specified in such Debt Security or in
the applicable Issuer Order. With respect to the Debt Securities of any series that are represented by a Global Debt Security, the Issuer and the Subsidiary Guarantors authorize the execution and delivery by the Trustee of a letter of
representations or other similar agreement or instrument in the form customarily provided for by the Depositary appointed with respect to such 

  
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Global Debt Security. Any Global Debt Security may be deposited with the Depositary or its nominee, or may remain in the custody of the Trustee or the Security Custodian therefor pursuant to a
FAST Balance Certificate Agreement or similar agreement between the Trustee and the Depositary. If an Issuer Order has been, or simultaneously is, delivered, any instructions by the Issuer with respect to endorsement or delivery or redelivery of a
Debt Security in global form shall be in writing but need not comply with Section 11.05 and need not be accompanied by an Opinion of Counsel. 

Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with
respect to any Global Debt Security held on their behalf by the Depositary, or the Trustee or the Security Custodian as its custodian, or under such Global Debt Security, and the Depositary may be treated by the Issuer, any Subsidiary Guarantor, the
Trustee or the Security Custodian and any agent of the Issuer, any Subsidiary Guarantor, the Trustee or the Security Custodian as the absolute owner of such Global Debt Security for all purposes whatsoever. Notwithstanding the foregoing,
(i) the registered holder of a Global Debt Security of a series may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action that a Holder of Debt
Securities of such series is entitled to take under this Indenture or the Debt Securities of such series and (ii) nothing herein shall prevent the Issuer, any Subsidiary Guarantor, the Trustee or the Security Custodian, or any agent of the
Issuer, any Subsidiary Guarantor, the Trustee or the Security Custodian, from giving effect to any written certification, proxy or other authorization furnished by the Depositary or shall impair, as between the Depositary and its Agent Members, the
operation of customary practices governing the exercise of the rights of a beneficial owner of any Debt Security. 
 Notwithstanding
Section 2.08, and except as otherwise provided pursuant to Section 2.01: Transfers of a Global Debt Security shall be limited to transfers of such Global
Debt Security in whole, but not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Debt Security may be transferred in accordance with the rules and procedures of the Depositary. Debt
Securities shall be transferred to all beneficial owners in exchange for their beneficial interests in a Global Debt Security if, and only if, either (1) the Depositary notifies the Issuer that it is unwilling or unable to continue as
Depositary for the Global Debt Security and a successor Depositary is not appointed by the Issuer within 90 days of such notice, (2) an Event of Default has occurred with respect to such series and is continuing and the Registrar has received a
request from the Depositary to issue Debt Securities in lieu of all or a portion of the Global Debt Security (in which case the Issuer shall deliver Debt Securities within 30 days of such request) or (3) the Issuer determines not to have the
Debt Securities represented by a Global Debt Security. 
 In connection with any transfer of a portion of the beneficial interests in a
Global Debt Security to beneficial owners pursuant to this Section 2.17, the Registrar shall reflect on its books and records the date and a decrease in the principal amount of the Global Debt Security
in an amount equal to the principal amount of the beneficial interests in the Global Debt Security to be transferred, and the Issuer and the Subsidiary Guarantors shall execute, and the Trustee upon receipt of an Issuer Order for the authentication
and delivery of Debt Securities shall authenticate and deliver, one or more Debt Securities of the same series of like tenor and amount. 

  
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 In connection with the transfer of all the beneficial interests in a Global Debt Security to
beneficial owners pursuant to this Section 2.17, the Global Debt Security shall be deemed to be surrendered to the Trustee for cancellation, and the Issuer and the Subsidiary Guarantors shall execute,
and the Trustee shall authenticate and deliver, to each beneficial owner identified by the Depositary in exchange for its beneficial interests in the Global Debt Security, an equal aggregate principal amount of Debt Securities of authorized
denominations. 
 Neither the Issuer, any Subsidiary Guarantor nor the Trustee will have any responsibility or liability for any aspect of
the records relating to, or payments made on account of, Debt Securities by the Depositary, or for maintaining, supervising or reviewing any records of the Depositary relating to such Debt Securities. Neither the Issuer, any Subsidiary Guarantor nor
the Trustee shall be liable for any delay by the related Global Debt Security Holder or the Depositary in identifying the beneficial owners, and each such Person may conclusively rely on, and shall be protected in relying on, instructions from such
Global Debt Security Holder or the Depositary for all purposes (including with respect to the registration and delivery, and the respective principal amounts, of the Debt Securities to be issued). Neither the Trustee nor any agent shall have any
responsibility for any actions taken or not taken by the Depositary. 
 The provisions of the last sentence of the third paragraph of
Section 2.04 shall apply to any Global Debt Security if such Global Debt Security was never issued and sold by the Issuer and the Issuer or a Subsidiary Guarantor delivers to the Trustee the Global Debt
Security together with written instructions (which need not comply with Section 11.05 and need not be accompanied by an Opinion of Counsel) with regard to the cancellation or reduction in the principal
amount of Debt Securities represented thereby, together with the written statement contemplated by the last sentence of the third paragraph of Section 2.04. 

Notwithstanding the provisions of Section 2.03 and 2.14, unless otherwise
specified as contemplated by Section 2.01, payment of principal of, premium (if any) and interest on any Global Debt Security shall be made to the Person or Persons specified therein. 

ARTICLE III 
 REDEMPTION

 SECTION 3.01 Applicability of Article. 

Debt Securities of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except
as otherwise specified as contemplated by Section 2.01 for Debt Securities of any series) in accordance with this Article III. 

SECTION 3.02 Notice to the Trustee. 

If the Issuer elects to redeem Debt Securities of any series pursuant to this Indenture, it shall notify the Trustee of the Redemption Date
and the principal amount of Debt Securities of such series to be redeemed. The Issuer shall so notify the Trustee at least 5 days before notice of the Redemption Date is given (unless a shorter notice shall be satisfactory to the Trustee) by
delivering to the Trustee an Officer’s Certificate stating that such redemption will comply with the provisions of this Indenture and of the Debt Securities of such series. Any such notice may be canceled at any time prior to the mailing of
such notice of such redemption to any Holder and shall thereupon be void and of no effect. 

  
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 SECTION 3.03 Selection of Debt Securities To Be Redeemed. 

If less than all the Debt Securities of any series are to be redeemed (, the particular Debt Securities to be redeemed shall be selected by
the Trustee from the outstanding Debt Securities of such series not previously called for redemption, either pro rata, by lot or by such other method as the Trustee shall deem fair and appropriate (but beneficial interests in Global Debt Securities
will be selected in accordance with the applicable rules of the Depositary) and that may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Debt Securities of that series or any integral multiple
thereof) of the principal amount of Debt Securities of such series of a denomination larger than the minimum authorized denomination for Debt Securities of that series or of the principal amount of Global Debt Securities of such series. 

The Trustee shall promptly notify the Issuer and the Registrar in writing of the Debt Securities selected for redemption and, in the case of
any Debt Securities selected for partial redemption, the principal amount thereof to be redeemed. 
 For purposes of this Indenture, unless
the context otherwise requires, all provisions relating to redemption of Debt Securities shall relate, in the case of any of the Debt Securities redeemed or to be redeemed only in part, to the portion of the principal amount thereof which has been
or is to be redeemed. 
 SECTION 3.04 Notice of Redemption. 

Notice of redemption shall be given with respect to Global Debt Securities in accordance with the applicable rules and procedures of the
Depositary, and otherwise mailed by first-class mail, postage prepaid, in each case not less than 10 nor more than 60 days prior to the Redemption Date, to each Holder of Debt Securities to be redeemed, at the address of such Holder appearing in the
register of Debt Securities maintained by the Registrar. 
 All notices of redemption shall identify the Debt Securities to be redeemed and
shall state: 
 (1) the Redemption Date; 

(2) the Redemption Price or the method by which it is to be determined; 

(3) that, unless the Issuer and the Subsidiary Guarantors default in making the redemption payment, interest on Debt Securities
called for redemption ceases to accrue on and after the Redemption Date, and the only remaining right of the Holders of such Debt Securities is to receive payment of the Redemption Price upon surrender to the Paying Agent of the Debt Securities
redeemed; 
 (4) if any Debt Security is to be redeemed in part, the portion of the principal amount thereof to be redeemed
and that on and after the Redemption Date, upon surrender for cancellation of such Debt Security to the Paying Agent, a new Debt Security or Debt Securities in the aggregate principal amount equal to the unredeemed portion thereof will be issued
without charge to the Holder; 

  
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 (5) that Debt Securities called for redemption must be surrendered to the
Paying Agent to collect the Redemption Price and the name and address of the Paying Agent; 
 (6) that the redemption is for
a sinking or analogous fund, if such is the case; 
 (7) the CUSIP number, if any, relating to such Debt Securities; and 

(8) any conditions to such redemption. 

Notice of redemption of Debt Securities to be redeemed at the election 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. 
 Any such redemption may, at the Issuer’s discretion,
be conditioned on the satisfaction or waiver of one or more conditions, including a sale of securities or other financing, in each case as specified in the notice of redemption. A notice of conditional redemption will be of no effect unless all
conditions to the redemption have occurred on or before the Redemption Date or have been waived by the Issuer on or before the Redemption Date. The Issuer will provide notice to the Trustee of any failure to meet such conditions no later than the
Redemption Date. 
 SECTION 3.05 Effect of Notice of Redemption. 

Once notice of redemption is mailed, Debt Securities called for redemption become due and payable on the Redemption Date and at the Redemption
Price, subject to satisfaction of any conditions precedent thereto. Upon surrender to the Paying Agent, such Debt Securities called for redemption shall be paid at the Redemption Price, but interest installments whose maturity is on or prior to such
Redemption Date will be payable on the relevant Interest Payment Dates to the Holders of record at the close of business on the relevant record dates specified pursuant to Section 2.01. 

SECTION 3.06 Deposit of Redemption Price. 

On or prior to 11:00 a.m., New York City time, on any Redemption Date, the Issuer shall deposit with the Trustee or the Paying Agent (or, if
the Issuer is acting as the Paying Agent, segregate and hold in trust as provided in Section 2.06) an amount of money in same day funds sufficient to pay the Redemption Price of, and (except if the
Redemption Date shall be an Interest Payment Date) accrued interest and premium (if any) on the Debt Securities or portions thereof which are to be redeemed on that date, other than Debt Securities or portions thereof called for redemption on that
date which have been delivered by the Issuer to the Trustee for cancellation. 
 If the Issuer complies with the preceding paragraph, then,
unless the Issuer default in the payment of such Redemption Price, interest on the Debt Securities to be redeemed will cease to accrue on and after the applicable Redemption Date, whether or not such Debt Securities are

  
 24 

 
presented for payment, and the Holders of such Debt Securities shall have no further rights with respect to such Debt Securities except for the right to receive the Redemption Price upon
surrender of such Debt Securities. If any Debt Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal, premium, if any, and, to the extent lawful, accrued interest thereon shall, until paid, bear
interest from the Redemption Date at the rate specified pursuant to Section 2.01 or provided in the Debt Securities. 

SECTION 3.07 Debt Securities Redeemed or Purchased in Part. 

Upon surrender to the Paying Agent of a Debt Security to be redeemed in part, the Issuer and the Subsidiary Guarantors shall execute and the
Trustee shall authenticate and deliver to the Holder of such Debt Security without service charge a new Debt Security or Debt Securities, of the same series and of any authorized denomination as requested by such Holder in aggregate principal amount
equal to, and in exchange for, the unredeemed portion of the principal of the Debt Security so surrendered that is not redeemed. 

SECTION 3.08 Purchase of Debt Securities. 

Unless otherwise specified as contemplated by Section 2.01, the Issuer, any Subsidiary
Guarantor and any Affiliate of the Issuer or any Subsidiary Guarantor may, subject to applicable law, at any time purchase or otherwise acquire Debt Securities in the open market or by private agreement. Any such acquisition shall not operate as or
be deemed for any purpose to be a redemption of the indebtedness represented by such Debt Securities. Any Debt Securities purchased or acquired by the Issuer or a Subsidiary Guarantor may be delivered to the Trustee and, upon such delivery, the
indebtedness represented thereby shall be deemed to be satisfied. Section 2.13 shall apply to all Debt Securities so delivered. 

SECTION 3.09 Mandatory and Optional Sinking Funds. 

The minimum amount of any sinking fund payment provided for by the terms of Debt Securities of any series is herein referred to as a
“mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Debt Securities of any series is herein referred to as an “optional sinking fund payment.” Each sinking fund payment
shall be applied to the redemption of Debt Securities of any series as provided for by the terms of Debt Securities of such series and by this Article III. 

ARTICLE IV 
 COVENANTS

 SECTION 4.01 Payment of Debt Securities. 

The Issuer shall pay the principal of, premium (if any) and interest on the Debt Securities of each series on the dates and in the manner
provided in the Debt Securities of such series and in this Indenture. Principal, premium and interest shall be considered paid on the date due if the Paying Agent (other than the Issuer, a Subsidiary Guarantor or a Subsidiary) holds on that date
money deposited by the Issuer or a Subsidiary Guarantor designated for and sufficient to pay all principal, premium and interest then due. 

  
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 The Issuer shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium (if any), at a rate equal to the then applicable interest rate on the Debt Securities to the extent lawful; and it shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the same rate to the extent lawful. 

SECTION 4.02 Maintenance of Office or Agency. 

The Issuer will maintain in each Place of Payment for any series of Debt Securities an office or agency (which may be an office of the
Trustee, the Registrar or the Paying Agent) where Debt Securities of that series may be presented for registration of transfer or exchange, where Debt Securities of that series may be presented for payment and where notices and demands to or upon
the Issuer or a Subsidiary Guarantor in respect of the Debt Securities of that series and this Indenture may be served. Unless otherwise designated by the Issuer by written notice to the Trustee, such office or agency shall be the office of the
Trustee in the City of Houston, which on the date hereof is located at 8 Greenway Plaza, Suite 1100, Houston, Texas 77046-0892, Attention: Alejandro Hoyo. The Issuer will give prompt written notice to the Trustee of the location, and any change in
the location, of such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be
made or served at the Corporate Trust Office of the Trustee. 
 The Issuer may also from time to time designate one or more other offices or
agencies where the Debt Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner
relieve the Issuer of its obligation to maintain an office or agency in each Place of Payment for Debt Securities of any series for such purposes. The Issuer will give prompt written notice to the Trustee of any such designation or rescission and of
any change in the location of any such other office or agency. 
 SECTION 4.03 SEC Reports; Financial Statements. If the Issuer
is subject to the requirements of Section 13 or 15(d) of the Exchange Act, the Issuer shall file with the Trustee, within 15 days after it files the same with the SEC, copies of the annual reports and the information, documents and other
reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) that the Issuer is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. If this Indenture is qualified
under the TIA, but not otherwise, the Issuer and the Subsidiary Guarantors shall also comply with the provisions of TIA Section 314(a). If the Issuer is not subject to the requirements of Section 13 or 15(d) of the Exchange Act, the Issuer
shall file with the Trustee, within 15 days after it would have been required to file with the SEC, financial statements (and with respect to annual reports, an auditor’s report by a firm of established national reputation) and a
Management’s Discussion and Analysis of Financial Condition and Results of Operations, both comparable to what it would have been required to file with the SEC had it been subject to the requirements of Section 13 or 15(d) of the Exchange
Act. Any reports, information or documents filed with the SEC pursuant to its Electronic Data Gathering, Analysis and Retrieval (EDGAR) (or any successor) system shall be deemed filed with the Trustee as required pursuant to this
Section 4.03. 

  
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 SECTION 4.04 Compliance Certificate. 

(a) The Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal year, a statement signed by an Officer of Issuer,
complying with TIA Section 314(a)(4) and stating that in the course of performance by the signing Officer of his duties as such Officer of Issuer, he would normally obtain knowledge of the keeping, observing, performing and fulfilling by the
Issuer and the Subsidiary Guarantors of their obligations under this Indenture, and further stating that to the best of his knowledge the Issuer and the Subsidiary Guarantors have observed, performed and fulfilled each and every covenant contained
in this Indenture and are not in default in the performance or observance of any of the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which
such Officer may have knowledge and what action the Issuer is taking or proposes to take with respect thereto). 
 (b) The Issuer shall, so
long as Debt Securities of any series are outstanding, deliver to the Trustee, within 60 days of becoming aware of the occurrence of any Default or Event of Default under this Indenture, a written notice of such Default or Event of Default, which
notice will describe in reasonable detail the status of such Default or Event of Default and what action the Issuer is taking or proposes to take with respect thereto. 

SECTION 4.05 Waiver of Stay, Extension or Usury Laws. 

Each of the Issuer and the Subsidiary Guarantors covenants (to the extent that it may lawfully do so) that it will not at any time insist
upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive it from paying all or any portion of the principal of or interest on the
Debt Securities as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture; and (to the extent that it may lawfully do so) each of the Issuer and the
Subsidiary Guarantors hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of
every such power as though no such law had been enacted. 
 SECTION 4.06 Limitations on Liens. 

The Issuer will not, and will not permit any of its Subsidiaries to, create, assume, incur or suffer to exist any mortgage, lien, security
interest, pledge, charge or other encumbrance (“Liens”) upon any Principal Property or upon any Capital Stock of any Restricted Subsidiary, whether owned on the date of the issuance of any Debt Securities or thereafter
acquired, to secure any Indebtedness of the Issuer or any other Person (other than the Debt Securities issued under this Indenture), without in any such case making effective provisions whereby all of the outstanding Debt Securities are secured
equally and ratably with, or prior to, such Indebtedness so long as such Indebtedness is so secured. 
 Notwithstanding the foregoing, the
Issuer may, and may permit any of its Subsidiaries to, create, assume, incur, or suffer to exist without securing the Debt Securities: 

(a) any Permitted Lien; 

  
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 (b) any Lien upon any Principal Property or Capital Stock of a Restricted Subsidiary to
secure Indebtedness of the Issuer or of any other Person, provided that the aggregate principal amount of all Indebtedness then outstanding secured by such Lien and all similar Liens under this clause (b) does not exceed 15% of
Consolidated Net Tangible Assets, determined at the time of incurrence of such Indebtedness; or 
 (c) with respect to any Series of Debt
Securities, any Lien upon (i) any Principal Property that was not owned by the Issuer or any of its Subsidiaries on the date of the supplemental indenture creating such Debt Securities or (ii) Capital Stock of any Restricted Subsidiary
that owns no Principal Property that was owned by the Issuer or any of its Subsidiaries on the date of the supplemental indenture creating such Debt Securities (an “Excluded Subsidiary”) that (A) is not, and is not
required to be, a Subsidiary Guarantor with respect to such series of Debt Securities and (B) has not granted any Liens on any of its property securing Indebtedness of the Issuer or any of its Subsidiaries other than such Excluded Subsidiary or
any other Excluded Subsidiary. 
 ARTICLE V 

SUCCESSORS 

SECTION 5.01 Limitations on Mergers, Consolidations or Sales of Assets. 

The Issuer shall not, in any transaction or series of transactions, consolidate with or merge into any Person, or sell, lease, convey,
transfer or otherwise dispose of all or substantially all of its assets to any Person, unless: 
 (a) the Person formed by or resulting from
any such consolidation or merger or to which such assets have been sold, leased, conveyed, transferred or otherwise disposed of (the “Successor”) is either the Issuer or expressly assumes by supplemental indenture, the due
and punctual payment of the principal of, premium (if any) and interest on all the Debt Securities and the performance of the Issuer’s covenants and obligations under this Indenture and the Debt Securities; 

(b) the Successor is organized under the laws of the United States, any State thereof or the District of Columbia; and 

(c) immediately after giving effect to such transaction or series of transactions, no Default or Event of Default shall have occurred and be
continuing. 
 SECTION 5.02 Successor Person Substituted. 

Upon any consolidation or merger of the Issuer, or any sale, lease, conveyance, transfer or other disposition of all or substantially all of
the assets of the Issuer in accordance with Section 5.01, the Successor formed by such consolidation or merger or to which such sale, lease, conveyance, transfer or other disposition is made shall
succeed to, and be substituted for, and may exercise every right and power of the Issuer under this Indenture and the Debt Securities with the same effect as if such Successor had originally been named as the Issuer herein and the predecessor Issuer
shall be released from all liabilities and obligations under this Indenture and the Debt Securities, except that no such release shall occur in the case of any lease of all or substantially all of the assets of the Issuer. 

  
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 ARTICLE VI 

DEFAULTS AND REMEDIES 

SECTION 6.01 Events of Default. 

Unless either inapplicable to a particular series or specifically deleted or modified in or pursuant to the supplemental indenture or Board
Resolution establishing such series of Debt Securities or in the form of Debt Security for such series, an “Event of Default,” wherever used herein with respect to Debt Securities of any series, means any of the following:

 (a) there is a default in the payment of interest on any Debt Security of that series when the same becomes due and payable, and such
default continues for a period of 30 days; 
 (b) there is a default in the payment of the principal of or premium, if any, on any Debt
Securities of that series as and when the same shall become due and payable, whether at Stated Maturity, upon redemption, by declaration, upon required repurchase or otherwise; 

(c) there is a default in the payment of any sinking fund payment with respect to any Debt Securities of that series as and when the same
shall become due and payable; 
 (d) there is a default in the performance or breach of any other covenant or warranty by the Issuer, or if
the series of Debt Securities is guaranteed by any Subsidiary Guarantor, by such Subsidiary Guarantor, in this Indenture (other than a covenant or warranty that has been included in this Indenture solely for the benefit of a series of Debt
Securities other than that series and (other than a default in the performance of a covenant which is specifically dealt with elsewhere in this Section 6.01), which default continues uncured for a
period of 90 days after the Issuer receives a Notice of Default from the Trustee or the Issuer and the Trustee receive a Notice of Default from the Holders of not less than 25% in principal amount of the outstanding Debt Securities of that series as
provided in this Indenture; 
 (e) the Issuer, or if the series of Debt Securities is guaranteed by any Subsidiary Guarantor, any of the
Subsidiary Guarantors, pursuant to or within the meaning of any Bankruptcy Law: 
 (i) commences a voluntary case, 

(ii) consents to the entry of an order for relief against it in an involuntary case, 

(iii) consents to the appointment of a Bankruptcy Custodian of it or for all or substantially all of its property, or 

(iv) makes a general assignment for the benefit of its creditors; 

(f) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that remains unstayed and in effect for 60 days and
that: 

  
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 (i) is for relief against the Issuer or any Subsidiary Guarantor as debtor in an
involuntary case, 
 (ii) appoints a Bankruptcy Custodian of the Issuer or any Subsidiary Guarantor or a 

(iii) Bankruptcy Custodian for all or substantially all of the property of the Issuer or any Subsidiary Guarantor; or 

(iv) orders the liquidation of the Issuer or any Subsidiary Guarantor; 

(g) if any series of Debt Securities outstanding under this Indenture is entitled to the benefits of a Guarantee by the Subsidiary Guarantors,
any of the Subsidiary Guarantors ceases to be in full force and effect with respect to Debt Securities of that series (except as otherwise provided in this Indenture), is declared null and void in a judicial proceeding or any of the Subsidiary
Guarantors (if applicable) denies or disaffirms its obligations under this Indenture or such Guarantee; or 
 (h) any other Event of Default
provided with respect to Debt Securities of that series occurs. 
 The term “Bankruptcy Custodian” means any
receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 The Trustee shall not be deemed to know or have
notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a Default or Event of Default is received by the Trustee at the Corporate
Trust Office of the Trustee, and such notice references the Debt Securities and this Indenture. 
 When a Default is cured, it ceases. 

SECTION 6.02 Acceleration. 

If an Event of Default with respect to Debt Securities of any series at the time outstanding (other than an Event of Default specified in
clause (e) or (f) of Section 6.01 with respect to the Issuer) occurs and is continuing, then the Trustee or the Holders of not less than
25% in principal amount of the then outstanding Debt Securities of that series affected by such Event of Default may, by a notice in writing to the Issuer (and to the Trustee if given by the Holders), declare to be due and payable immediately the
principal of (or, if the Debt Securities of that series are Original Issue Discount Securities, that portion of the principal amount as may be specified in the terms of that series) and all accrued and unpaid interest, if any, on all then
outstanding Debt Securities of such affected series. Upon any such declaration, such amounts shall be due and payable immediately. If an Event of Default specified in clause (e) or
(f) of Section 6.01 hereof occurs with respect to the Issuer, such amounts shall ipso facto become and be immediately due and payable without any declaration, notice or other act on
the part of the Trustee or any Holder of outstanding Debt Securities. The Holders of a majority in principal amount of the then outstanding Debt Securities of the series affected by such Event of Default by written notice to the Trustee may

  
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rescind an acceleration and its consequences (other than nonpayment of principal of or premium or interest on the Debt Securities) if the rescission would not conflict with any judgment or decree
of a court of competent jurisdiction and if all existing Events of Default with respect to Debt Securities of that series have been cured or waived, except nonpayment of principal, premium or interest that has become due solely because of the
acceleration. 
 SECTION 6.03 Other Remedies. 

If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal of, or
premium, if any, or interest on the Debt Securities or to enforce the performance of any provision of the Debt Securities or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Debt Securities or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law. 
 SECTION 6.04 Waiver of Defaults. 

Subject to Sections 6.07 and 9.02, the Holders of a majority in principal amount
of the then outstanding Debt Securities of any series by notice to the Trustee may waive an existing or past Default or Event of Default with respect to such series and its consequences (including waivers obtained in connection with a tender offer
or exchange offer for Debt Securities of such series or a solicitation of consents in respect of Debt Securities of such series, except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or
interest on any Debt Security or (2) a continued Default in respect of a provision that under Section 9.02 cannot be amended or supplemented without the consent of each Holder affected. Upon any
such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right
consequent thereon. 
 SECTION 6.05 Control by Majority. 

With respect to Debt Securities of any series, the Holders of a majority in principal amount of the then outstanding Debt Securities of such
series may direct in writing the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it with respect to Debt Securities of such series. However, the Trustee may
refuse to follow any direction that conflicts with applicable law or this Indenture, that the Trustee determines is unduly prejudicial to the rights of other Holders, or that would involve the Trustee in personal liability; provided, however, that
the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion from
Holders directing the Trustee against all losses and expenses caused by taking or not taking such action. 

  
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 SECTION 6.06 Limitations on Suits. 

Subject to Section 6.07 hereof, a Holder of a Debt Security of any series may have a right to
institute an proceeding, judicial or otherwise, with respect to this Indenture or for the appointment of a receiver or Trustee, or for any remedy with respect to this Indenture or the Debt Securities of such series only if: 

(1) that Holder has previously given to the Trustee written notice of a continuing Event of Default with respect to Debt
Securities of that series; 
 (2) the Holders of at least 25% in principal amount of the then outstanding Debt Securities of
such series have made a written request to the Trustee to pursue the remedy; 
 (3) such Holder or Holders have offered to
the Trustee security or indemnity satisfactory to the Trustee against any cost, liability or expense; 
 (4) the Trustee has
not complied with the request within 60 days after receipt of the request and the offer of security or indemnity; and 
 (5)
during such 60-day period the Holders of a majority in principal amount of the Debt Securities of that series have not given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with
the request. 
 A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over
another Holder. 
 SECTION 6.07 Rights of Holders to Receive Payment. 

Notwithstanding any other provision of this Indenture, the right of any Holder of a Debt Security to receive payment of principal of and
premium, if any, and any interest on with respect to the Debt Security, on or after the respective due dates expressed in the Debt Security, and to bring suit for the enforcement of any such payment on or after such respective dates, is absolute and
unconditional. 
 SECTION 6.08 Collection Suit by Trustee. 

If an Event of Default specified in clause (a) or (b) of
Section 6.01 hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Issuer or a Subsidiary Guarantor for the amount
of principal, premium (if any), interest remaining unpaid on the Debt Securities of the series affected by the Event of Default, and interest on overdue principal and premium, if any, and, to the extent lawful, interest on overdue interest, and such
further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

SECTION 6.09 Trustee May File Proofs of Claim. 

The Trustee is authorized to file such proofs of claim and other papers or documents and to take such actions, including participating as a
member, voting or otherwise, of any committee 

  
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of creditors, as may be necessary or advisable to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel) and the Holders allowed in any judicial proceedings relative to the Issuer or a Subsidiary Guarantor or their respective creditors or properties and shall be entitled and empowered to collect, receive and distribute any money or
other property payable or deliverable on any such claims and any Bankruptcy Custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07 out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends,
money, securities and other properties which the Holders of the Debt Securities may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be
deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Debt Securities or the rights of any Holder thereof, or to
authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 SECTION 6.10 Priorities. 

If the Trustee collects any money pursuant to this Article VI, it shall pay out the money in
the following order: 
 First: to the Trustee for amounts due under
Section 7.07; 
 Second: to Holders for amounts due and unpaid on the Debt
Securities in respect of which or for the benefit of which such money has been collected, for principal, premium (if any) and interest ratably, without preference or priority of any kind, according to the amounts due and payable on such Debt
Securities for principal, premium (if any) and interest, respectively; and 
 Third: to the Issuer. 

The Trustee, upon prior written notice to the Issuer, may fix record dates and payment dates for any payment to Holders pursuant to this
Article VI. 
 SECTION 6.11 Undertaking for Costs. 

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 or omitted
by it as a trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the
Trustee, a suit by a Holder pursuant to Section 6.07, or a suit by a Holder or Holders of more than 10% in principal amount of the then outstanding Debt Securities of any series. 

  
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 ARTICLE VII 

TRUSTEE 
 SECTION 7.01
Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and
powers vested in it by this Indenture, and use the same degree of care and skill in such exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default with respect to the Debt Securities of any series: 

(1) the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the absence of bad faith on its
part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However,
the Trustee shall examine such certificates and opinions to determine whether, on their face, they appear to conform to the requirements of this Indenture. 

(c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act or its own willful
misconduct, except that: 
 (1) this paragraph does not limit the effect of
Section 7.01(b); 
 (2) the Trustee shall not be liable for any error of
judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(3) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.05. 
 (d) Whether or not therein expressly so
provided, every provision of this Indenture that in any way relates to the Trustee is subject to the provisions of this Section 7.01. 

(e) No provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability. The Trustee may refuse to
perform any duty or exercise any of its rights or powers under this Indenture unless it receives indemnity satisfactory to the Trustee against any cost, liability or expense that might be incurred by it in performing such duty or exercising such
right or power. 

  
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 (f) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Issuer and the Subsidiary Guarantors. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. All money received by the Trustee shall, until applied as
herein provided, be held in trust for the payment of the principal of, premium (if any) and interest on the Debt Securities. 

SECTION 7.02 Rights of Trustee. 

(a) The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the proper Person.
The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee acts or refrains from acting, it may
require instruction, an Officer’s Certificate or an Opinion of Counsel or both to be provided. In the absence of bad faith on the part of the Trustee, the Trustee shall not be liable for any action it takes or omits to take in reliance on such
instruction, Officer’s Certificate or Opinion of Counsel. The Trustee may consult at the Issuer’s expense with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 
 (c) The Trustee may
execute any of the trusts or powers hereunder, perform any duties hereunder or otherwise act through agents or attorneys and shall not be responsible for the misconduct or negligence of any agent or attorney appointed with due care. 

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its
rights or powers conferred upon it by this Indenture. 
 (e) Unless otherwise specifically provided in this Indenture, any demand, request,
direction or notice from the Issuer or any Subsidiary Guarantor shall be sufficient if signed by an Officer of Issuer. 
 (f) The Trustee
shall not be obligated to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of
indebtedness or other paper or document. 
 (g) 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. 

(h) The Trustee may request that the Issuer deliver an Officer’s 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 Officer’s Certificate may be signed by any person authorized to sign an Officer’s Certificate, including any person specified as so authorized in
any such certificate previously delivered and not superseded. 

  
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 SECTION 7.03 May Hold Debt Securities. 

The Trustee in its individual or any other capacity may become the owner or pledgee of Debt Securities and may make loans to, accept deposits
from, perform services for and otherwise deal with the Issuer, any Subsidiary Guarantor or any of their respective Affiliates with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights and duties. However,
the Trustee is subject to Sections 7.10 and 7.11. 
 SECTION 7.04
Trustee’s Disclaimer. 
 The Trustee makes no representation as to the validity or adequacy of this Indenture or
the Debt Securities, it shall not be accountable for the Issuer’s use of the proceeds from the Debt Securities or any money paid to the Issuer or any Subsidiary Guarantor or upon the Issuer’s or such Subsidiary Guarantor’s direction
under any provision hereof, it shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee and it shall not be responsible for any statement or recital herein or any statement in the Debt
Securities other than its certificate of authentication. 
 SECTION 7.05 Notice of Defaults. 

If a Default or Event of Default occurs and is continuing with respect to the Debt Securities of any series and if it is known to a
Responsible Officer of the Trustee, the Trustee shall mail to each Holder of the Debt Securities of that series notice of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Trustee has
knowledge of such default or Event of Default. Except in the case of a Default or Event of Default in payment of principal of, premium (if any) and interest on or any sinking fund installment with respect to the Debt Securities of such series, the
Trustee may withhold the notice if and so long as the Trustee determines in good faith that withholding notice is in the interest of the Holders of Debt Securities of such series. 

SECTION 7.06 Reports by Trustee to Holders. 

Within 60 days after each September 15 of each year after the execution of this Indenture, the Trustee shall mail to Holders of a series,
the Subsidiary Guarantors and the Issuer a brief report dated as of such reporting date that complies with TIA Section 313(a); provided, however, that if no event described in TIA Section 313(a) has occurred within the twelve months
preceding the reporting date with respect to a series, no report need be transmitted to Holders of such series. The Trustee also shall comply with TIA Section 313(b). The Trustee shall also transmit by mail all reports if and as required by TIA
Sections 313(c) and 313(d). 
 A copy of each report at the time of its mailing to Holders of a series of Debt Securities shall be filed by
the Issuer or a Subsidiary Guarantor with the SEC and each securities exchange, if any, on which the Debt Securities of such series are listed. The Issuer shall notify the Trustee if and when any series of Debt Securities is listed on any securities
exchange. 

  
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 SECTION 7.07 Compensation and Indemnity. 

The Issuer agrees to pay to the Trustee for its acceptance of this Indenture and services hereunder such compensation as the Issuer and the
Trustee shall from time to time agree in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer agrees to reimburse the Trustee upon request for all reasonable
disbursements, advances and expenses incurred by it. Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 

The Issuer and Subsidiary Guarantors, jointly and severally, hereby indemnify the Trustee and any predecessor Trustee against any and all
loss, liability, damage, claim or reasonable and documented out-of-pocket expense, including taxes (other than taxes based upon, measured by or determined by the income
of the Trustee), incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, except as set forth in the next following paragraph. The Trustee shall notify the Issuer and the Subsidiary
Guarantors promptly of any claim for which it may seek indemnity. The Issuer and Subsidiary Guarantors shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the Issuer and Subsidiary
Guarantors shall pay the reasonable fees and expenses of such counsel. The Issuer and Subsidiary Guarantors need not pay for any settlement made without their consent. 

The Issuer and Subsidiary Guarantors shall not be obligated to reimburse any expense or indemnify against any loss or liability incurred by
the Trustee through the Trustee’s negligence or bad faith. 
 To secure the payment obligations of the Issuer and Subsidiary Guarantors
in this Section 7.07, the Trustee shall have a Lien prior to the Debt Securities on all money or property held or collected by the Trustee, except that held in trust to pay principal of, premium (if
any) and interest on particular Debt Securities of any series. Such Lien and the obligations of the Issuer and the Subsidiary Guarantors under this Section 7.07 shall survive the satisfaction and
discharge of this Indenture. 
 When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.01(e) or (f) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 

SECTION 7.08 Replacement of Trustee. 

A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section 7.08. 
 The Trustee may resign and be
discharged at any time with respect to the Debt Securities of one or more series by so notifying the Issuer and the Subsidiary Guarantors. The Holders of a majority in principal amount of the then outstanding Debt Securities of any series may remove
the Trustee with respect to the Debt Securities of such series by so notifying the Trustee, the Issuer and the Subsidiary Guarantors. The Issuer may remove the Trustee if: 

  
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 (1) the Trustee fails to comply with
Section 7.10; 
 (2) the Trustee is adjudged a bankrupt or an insolvent or an
order for relief is entered with respect to the Trustee under any Bankruptcy Law; 
 (3) a Bankruptcy Custodian or public
officer takes charge of the Trustee or its property; or 
 (4) the Trustee otherwise becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, with respect to the Debt Securities of
one or more series, the Issuer shall promptly appoint a successor Trustee or Trustees with respect to the Debt Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Debt
Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Debt Securities of any particular series). Within one year after the successor Trustee with respect to the Debt Securities of
any series takes office, the Holders of a majority in principal amount of the Debt Securities of such series then outstanding may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer. 

If a successor Trustee with respect to the Debt Securities of any series does not take office within 30 days after the retiring or removed
Trustee resigns or is removed, the retiring or removed Trustee (at the expense of the Issuer), the Issuer, any Subsidiary Guarantor or the Holders of at least 10% in principal amount of the then outstanding Debt Securities of such series may
petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities of such series. 

If the Trustee with respect to the Debt Securities of a series fails to comply with
Section 7.10, any Holder of Debt Securities of such series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with respect to the
Debt Securities of such series. 
 In case of the appointment of a successor Trustee with respect to all Debt Securities, each such
successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee, to the Issuer and to the Subsidiary Guarantors. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor
Trustee shall have all the rights, powers and duties of the retiring Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as
Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. 
 In
case of the appointment of a successor Trustee with respect to the Debt Securities of one or more (but not all) series, the Issuer, the Subsidiary Guarantors, the retiring Trustee and each successor Trustee with respect to the Debt Securities of one
or more (but not all) series shall execute and deliver an indenture supplemental hereto in which each successor Trustee shall accept such appointment and that (1) shall confer to each successor Trustee all the rights, powers and duties of the
retiring Trustee with respect to the Debt Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Debt Securities, shall confirm that all the
rights, powers and duties of the retiring Trustee 

  
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with respect to the Debt Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee and (3) 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. Nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, and each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee. Upon the execution
and delivery of such supplemental indenture, the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee shall have all the rights, powers and duties of the retiring
Trustee with respect to the Debt Securities of that or those series to which the appointment of such successor Trustee relates. On request of the Issuer or any successor Trustee, such retiring Trustee shall transfer to such successor Trustee all
property held by such retiring Trustee as Trustee with respect to the Debt Securities of that or those series to which the appointment of such successor Trustee relates. 

Such retiring Trustee shall, however, have the right to deduct its unpaid fees and expenses, including attorneys’ fees. 

Notwithstanding replacement of the Trustee or Trustees pursuant to this Section 7.08, the
obligations of the Issuer under Section 7.07 shall continue for the benefit of the retiring Trustee or Trustees. 

SECTION 7.09 Successor Trustee by Merger, etc. 

Subject to Section 7.10, if the Trustee consolidates, merges or converts into, or transfers all
or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee; provided, however, that in the case of a transfer of all or substantially all of its
corporate trust business to another corporation, the transferee corporation expressly assumes all of the Trustee’s liabilities hereunder. 

In case any Debt Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Debt Securities so authenticated; and in case at that time any of the Debt Securities shall not have been authenticated, any successor to the
Trustee may authenticate such Debt Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Debt
Securities or in this Indenture provided that the certificate of the Trustee shall have. 
 SECTION 7.10 Eligibility;
Disqualification. 
 There shall at all times be a Trustee hereunder which shall be a corporation or banking association organized and
doing business under the laws of the United States, any State thereof or the District of Columbia and authorized under such laws to exercise corporate trust power, shall be subject to supervision or examination by federal or state (or the District
of Columbia) authority and shall have, or be a Subsidiary of a bank or bank holding company having, a combined capital and surplus of at least $50 million as set forth in its most recent published annual report of condition. 

  
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 This Indenture shall always have a Trustee who satisfies the requirements of TIA Sections
310(a)(1), 310(a)(2) and 310(a)(5). The Trustee is subject to and shall comply with the provisions of TIA Section 310(b) during the period of time required by this Indenture. Nothing in this Indenture shall prevent the Trustee from filing with
the SEC the application referred to in the penultimate paragraph of TIA Section 310(b). 
 SECTION 7.11 Preferential Collection
of Claims Against the Issuer or a Subsidiary Guarantor. 
 The Trustee is subject to and shall comply with the provisions of TIA
Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein. 

ARTICLE VIII 
 DISCHARGE OF
INDENTURE; DEFEASANCE 
 SECTION 8.01 Applicability of Article. 

The provisions of this Article VIII relating to either the satisfaction and discharge or the
defeasance of Debt Securities shall be applicable to each series of Debt Securities except as otherwise specified pursuant to Section 2.01 for Debt Securities of such series. 

SECTION 8.02 Satisfaction and Discharge of Indenture; Defeasance. 

(a) If at any time the Issuer shall have delivered to the Trustee for cancellation all Debt Securities of any series theretofore authenticated
and delivered (other than any Debt Securities of such series that shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.09 and Debt Securities for
whose payment money has theretofore been deposited in trust and thereafter repaid to the Issuer as provided in Section 8.05) or all Debt Securities of such series not theretofore delivered to the
Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable at their Stated Maturity within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee
for the giving of notice of redemption, and the Issuer shall deposit with the Trustee as trust funds the entire amount in the currency in which such Debt Securities are denominated (except as otherwise provided pursuant to
Section 2.01) sufficient to pay at Stated Maturity or upon redemption all Debt Securities of such series not theretofore delivered to the Trustee for cancellation, including principal and premium, if
any, and interest due or to become due on such date of Stated Maturity or Redemption Date, as the case may be, and if in either case the Issuer shall also pay or cause to be paid all other sums then due and payable hereunder by the Issuer with
respect to the Debt Securities of such series, then this Indenture shall cease to be of further effect with respect to the Debt Securities of such series, and the Trustee, on demand of the Issuer accompanied by an Officer’s Certificate and an
Opinion of Counsel and at the cost and expense of the Issuer, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to the Debt Securities of such series. 

  
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 (b) Subject to Sections 8.02(c),
8.03 and 8.07, the Issuer at any time may terminate, with respect to Debt Securities of a particular series, all its obligations under the Debt Securities of such series and this Indenture with respect to the Debt
Securities of such series (“legal defeasance option”) or the operation of (x) any covenant made applicable to such Debt Securities pursuant to Section 2.01, (y)
Sections 4.06, 6.01(d), (h) and (i) (except to the extent covenants or agreements referenced in
Section 6.01(d) remain applicable) and (z) as it relates to the Subsidiary Guarantors only, Sections 6.01(e) and (f)
(“covenant defeasance option”). For this purpose, the covenant defeasance option means that, with respect to the outstanding Debt Securities of such series, the Issuer and each Subsidiary may omit to comply with and shall
have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to
any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01 with respect to such series, but, except as
specified above, the remainder of this Indenture and such Debt Securities shall be unaffected thereby. If the Issuer exercises either its legal defeasance option or its covenant defeasance obligation, each Guarantee will terminate with respect to
that series of Debt Securities and be automatically released and discharged and any security that may have been granted in respect of such series shall be automatically released. The Issuer may exercise its legal defeasance option notwithstanding
its prior exercise of its covenant defeasance option. 
 If the Issuer exercises its legal defeasance option, payment of the Debt Securities
of the defeased series may not be accelerated because of an Event of Default. If the Issuer exercises its covenant defeasance option, payment of the Debt Securities of the defeased series may not be accelerated because of an Event of Default
specified in Sections 6.01(d), (g) and (h) and, with respect to the Subsidiary Guarantors only, Sections 6.01(e) and
(f) (except to the extent covenants or agreements referenced in Section 6.01(d) remain applicable). 

Upon satisfaction of the conditions set forth herein and upon request of the Issuer, the Trustee shall acknowledge in writing the discharge of
those obligations that the Issuer terminates. 
 (c) Notwithstanding clauses (a) and
(b) above, the Issuer’s obligations in Sections 2.05, 2.08, 2.09, 4.02, 4.06, 7.07, 8.05,
8.06 and 8.07 shall survive until the Debt Securities of the defeased series have been paid in full. Thereafter, the Issuer’s obligations in Sections 7.07,
8.05 and 8.06 shall survive. 
 SECTION 8.03 Conditions of Defeasance. 

The Issuer may exercise its legal defeasance option or its covenant defeasance option with respect to Debt Securities of a particular series
only if: 
 (a) in the event of the legal defeasance option, the Issuer shall have irrevocably deposited in trust with the Trustee money,
U.S. Government Obligations or a combination thereof or, in the case of Debt Securities denominated in a single currency other than United States dollars, government obligations of the government that issued or caused to be issued such currency,
that, through the payment of interest and principal in accordance with their terms, will provide money or U.S. Government Obligations in an amount sufficient in the opinion of a nationally recognized firm of independent public accountants or
investment bank to pay and discharge each installment of principal, premium (if any) and interest on and any mandatory sinking fund payments in respect of the Debt Securities of that series on the Stated Maturity of those payments in accordance with
the terms of this Indenture and Debt Securities of such series; 

  
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 (b) in the event of the legal defeasance option, the Issuer shall have delivered to the
Trustee an Opinion of Counsel stating that the Issuer has received from, or there has been published by, the United States Internal Revenue Service a ruling or, since the date of execution of this Indenture, there has been a change in the applicable
United States federal income tax law, in either case, to the effect that, and based thereon such opinion shall confirm that, the holders of the Debt Securities of that series will not recognize income, gain or loss for United States federal income
tax purposes as a result of the deposit, defeasance and discharge and will be subject to United States federal income tax on the same amounts and in the same manner and at the same times as would have been the case if the deposit, defeasance and
discharge had not occurred; 
 (c) in the event of the covenant defeasance option, the Issuer shall have deposited with the Trustee money,
U.S. Government Obligations or a combination thereof, or, in the case of Debt Securities denominated in a single currency other than United States dollars, government obligations of the government that issued or caused to be issued such currency,
that, through the payment of interest and principal in accordance with their terms, will provide money in an amount sufficient in the opinion of a nationally recognized firm of independent public accountants or investment bank to pay and discharge
each installment of principal of, premium and interest on and any mandatory sinking fund payments in respect of the Debt Securities of that series on the Stated Maturity of those payments in accordance with the terms of this Indenture and Debt
Securities of such series; and 
 (d) in the event of the covenant defeasance option, the Issuer shall have delivered to the Trustee an
Opinion of Counsel to the effect that the Issuer has received from, or there has been published by, the United States Internal Revenue Service a ruling or, since the date of execution of this Indenture, there has been a change in the applicable
United States federal income tax law, in either case, to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the Debt Securities of that series will not recognize income, gain or loss for United States
federal income tax purposes as a result of the deposit and related covenant defeasance and will be subject to United States federal income tax on the same amounts and in the same manner and at the same times as would have been the case if the
deposit and related covenant defeasance had not occurred. 
 (e) in the event of the legal defeasance option or the covenant defeasance
option, no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit (and any similar concurrent deposit
relating to other Indebtedness), and the granting of Liens to secure such borrowings); and 
 (f) such legal defeasance option or covenant
defeasance option will not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture and the agreements governing other Indebtedness being defeased, discharged or replaced) to
which the Issuer or any of its Subsidiaries is a party or by which the Issuer or any of its Subsidiaries is bound. 

  
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 SECTION 8.04 Application of Trust Money. 

Subject to Section 8.05, the Trustee shall hold in trust money or U.S. Government Obligations
deposited with it pursuant to this Article VIII. It shall apply the deposited money and the money from U.S. Government Obligations through any paying agent and in accordance with this Indenture to the
payment of principal of, and premium, if any, and interest on, the Debt Securities of the defeased series. 
 SECTION 8.05 Repayment
to Issuer. 
 The Trustee and any paying agent shall promptly turn over to the Issuer upon request any excess money or securities held
by them at any time. 
 Subject to any applicable abandoned property law, the Trustee and any paying agent shall pay to the Issuer upon
request any money held by them for the payment of principal, premium or interest that remains unclaimed for two years, and, thereafter, Holders entitled to such money must look to the Issuer for payment as general creditors. 

SECTION 8.06 Indemnity for U.S. Government Obligations. 

The Issuer shall pay and shall indemnify the Trustee and the Holders against any tax, fee or other charge imposed on or assessed against
deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations. 
 SECTION 8.07
Reinstatement. 
 If the Trustee or any paying agent is unable to apply any money or U.S. Government Obligations in accordance with
this Article VIII by reason of any legal proceeding or by reason of any order or judgment of any court or government authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s obligations under this
Indenture and the Debt Securities of the defeased series shall be revived and reinstated as though no deposit had occurred pursuant to this Article VIII until such time as the Trustee or any paying agent is permitted to apply all such
money or U.S. Government Obligations in accordance with this Article VIII. 
 ARTICLE IX 

SUPPLEMENTAL INDENTURES AND AMENDMENTS 

SECTION 9.01 Without Consent of Holders. 

The Issuer and the Trustee may amend, supplement or otherwise modify this Indenture or the Debt Securities of any series or waive any
provision hereof or thereof without the consent of any Holder: 
 (a) to cure any ambiguity, omission, defect or inconsistency; 

  
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 (b) to comply with Section 5.01; 

(c) to provide for uncertificated Debt Securities in addition to or in place of Certificated Debt Securities; 

(d) to add Guarantees with respect to Debt Securities of any series; 

(e) to surrender any of the Issuer’s rights or powers under this Indenture; 

(f) to comply with the applicable procedures of the applicable depositary; 

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

(h) to provide for the issuance of and establish the form and terms and conditions of Debt Securities of any series as permitted by
Section 2.01; 
 (i) to provide for the issuance of bearer Debt Securities (with or without
coupons); 
 (j) to provide any security for any series of Debt Securities or the related Guarantees; 

(k) to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance and
discharge of any series of Debt Securities pursuant to Article VIII; provided, however, that any such action shall not adversely affect the rights of the Holders of Debt Securities of such series or any other series of Debt Securities
in any material respect; 
 (l) to effect the appointment of a successor Trustee with respect to the Debt Securities of any series and to
add to or change any of the provisions of this Indenture to provide for or facilitate administration by more than one Trustee; 
 (m) to
comply with any requirement of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 
 (n) to add to
the covenants of the Issuer or any Subsidiary Guarantor for the benefit of the Holders of all or any series of Debt Securities (and if such covenants are to be for the benefit of less than all series of Debt Securities, stating that such covenants
are expressly being included solely for the benefit of such series), or to surrender any right or power herein conferred upon the Issuer or any Subsidiary Guarantor; 

(o) to add any additional Events of Default with respect to all or any series of the Debt Securities (and, if any Event of Default is
applicable to less than all series of Debt Securities, specifying the series to which such Event of Default is applicable); or 
 (p) to
change or eliminate any of the provisions of this Indenture; provided that any such change or elimination shall become effective only when there is no outstanding Debt Security of any series created prior to the execution of such amendment or
supplemental indenture that is adversely affected by such change in or elimination of such provision. 

  
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 Upon the request of the Issuer and upon receipt by the Trustee of the documents described in
Section 9.06, the Trustee shall, subject to Section 9.06, join with the Issuer and the Subsidiary Guarantors in the execution of any supplemental indenture
authorized or permitted by the terms of this Indenture and make any further appropriate agreements and stipulations that may be therein contained. 

SECTION 9.02 With Consent of Holders. 

Except as provided below in this Section 9.02, the Issuer and the Trustee may amend, supplement
or otherwise modify this Indenture with the consent (including consents obtained in connection with a tender offer or exchange offer for Debt Securities of any one or more series or all series or a solicitation of consents in respect of Debt
Securities of any one or more series or all series) of the Holders of at least a majority in principal amount of the then outstanding Debt Securities of each series affected by such amendment, supplement or other modification. 

Upon the request of the Issuer and upon the filing with the Trustee of evidence of the consent of the Holders as aforesaid, and upon receipt
by the Trustee of the documents described in Section 9.06, the Trustee shall, subject to Section 9.06, join with the Issuer and the Subsidiary Guarantors
in the execution of such amendment or supplemental indenture. 
 It shall not be necessary for the consent of the Holders under this
Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 

Except as provided below in this Section 9.02, the Holders of a majority in principal amount of
the then outstanding Debt Securities of any series may, on behalf of the Holders of all Debt Securities of that series, waive compliance in a particular instance by the Issuer or any Subsidiary Guarantor with any provision of this Indenture with
respect to Debt Securities of such series (including waivers obtained in connection with a tender offer or exchange offer for Debt Securities of such series or a solicitation of consents in respect of Debt Securities of such series). 

However, without the consent of each Holder affected, an amendment, supplement or waiver under this
Section 9.02 may not: 
 (a) reduce the percentage in principal amount of Debt Securities
whose Holders must consent to an amendment, supplement or waiver; 
 (b) reduce the rate of or extend the time for payment of interest
(including default interest) on any Debt Security; 
 (c) reduce the principal of or premium on or change the fixed maturity of any Debt
Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation with respect to any series of Debt Securities; 

(d) reduce the principal amount of Original Issue Discount Securities payable upon acceleration of the Maturity thereof pursuant to
Section 6.02; 

  
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 (e) reduce the premium, if any, payable upon the redemption of any Debt Security or waive
the requirement that any Debt Security shall be redeemed; 
 (f) change the coin or currency or currencies (including composite currencies)
in which any Debt Security or any premium or interest with respect thereto are payable; 
 (g) impair the right of any Holder to receive
payment of principal of and premium, if any, and interest on such Holder’s Debt Securities or to institute suit for the enforcement of any payment of principal of, premium (if any) or interest on such Holder’s Debt Securities pursuant to
Sections 6.07 and 6.08, except as limited by Section 6.06; 
 (h)
make any change in the percentage of principal amount of Debt Securities necessary to waive compliance with certain provisions of this Indenture pursuant to Section 6.04 or 6.07 or make
any change in this sentence of Section 9.02; or 
 (i) waive a continuing Default or Event of
Default in the payment of principal of, premium (if any) or interest on the Debt Securities (except a rescission of acceleration of the Debt Securities of any series by the Holders of at least a majority in aggregate principal amount of the then
outstanding Debt Securities of that series and a waiver of the payment default that resulted from such acceleration). 
 A supplemental
indenture that changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Debt Securities, or which modifies the rights of the Holders of Debt
Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Debt Securities of any other series. 

The right of any Holder to participate in any consent required or sought pursuant to any provision of this Indenture (and the obligation of
the Issuer or any Subsidiary Guarantor to obtain any such consent otherwise required from such Holder) may be subject to the requirement that such Holder shall have been the Holder of record of any Debt Securities with respect to which such consent
is required or sought as of a date identified by the Issuer or such Subsidiary Guarantor in a notice furnished to Holders in accordance with the terms of this Indenture. 

After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Issuer
shall mail to the Holders of each Debt Security affected thereby a notice briefly describing the amendment, supplement or waiver. 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 amendment, supplement or waiver. 
 SECTION 9.03 Compliance with Trust Indenture Act. 

Every amendment or supplement to this Indenture or the Debt Securities shall comply in form and substance with the TIA as then in effect. 

  
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 SECTION 9.04 Revocation and Effect of Consents. 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every
subsequent Holder of a Debt Security or portion of a Debt Security that evidences the same debt as the consenting Holder’s Debt Security, even if notation of the consent is not made on any Debt Security. However, any such Holder or subsequent
Holder may revoke the consent as to his or her Debt Security or portion of a Debt Security if the Trustee receives written notice of revocation before a date and time therefor identified by the Issuer or any Subsidiary Guarantor in a notice
furnished to such Holder in accordance with the terms of this Indenture or, if no such date and time shall be identified, the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in
accordance with its terms and thereafter binds every Holder. 
 The Issuer or any Subsidiary Guarantor may, but shall not be obligated to,
fix a record date (which need not comply with TIA Section 316(c)) for the purpose of determining the Holders entitled to consent to any amendment, supplement or waiver or to take any other action under this Indenture. If a record date is fixed,
then notwithstanding the provisions of the immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to consent to such amendment, supplement or
waiver or to revoke any consent previously given, whether or not such Persons continue to be Holders after such record date. No consent shall be valid or effective for more than 90 days after such record date unless consents from Holders of the
principal amount of Debt Securities required hereunder for such amendment or waiver to be effective shall have also been given and not revoked within such 90-day period. 

After an amendment, supplement or waiver becomes effective, it shall bind every Holder, unless it is of the type described in any of
clauses (a) through (i) of Section 9.02 hereof. In such case, the amendment, supplement or waiver shall bind
each Holder who has consented to it and every subsequent Holder that evidences the same debt as the consenting Holder’s Debt Security. 

SECTION 9.05 Notation on or Exchange of Debt Securities. 

If an amendment or supplement changes the terms of an outstanding Debt Security, the Issuer may require the Holder of the Debt Security to
deliver it to the Trustee. The Trustee may place an appropriate notation on the Debt Security at the request of the Issuer regarding the changed terms and return it to the Holder. Alternatively, if the Issuer so determines, the Issuer in exchange
for the Debt Security shall issue, and the Subsidiary Guarantors shall execute and the Trustee shall authenticate, a new Debt Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Debt Security shall
not affect the validity of such amendment or supplement. 
 Debt Securities of any series authenticated and delivered after the execution of
any amendment or supplement may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such amendment or supplement. 

  
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 SECTION 9.06 Trustee to Sign Amendments, etc. 

The Trustee shall sign any amendment or supplement authorized pursuant to this Article if the amendment or supplement does not adversely
affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, but need not, sign it. In signing or refusing to sign such amendment or supplement, the Trustee shall be entitled to receive indemnity satisfactory to
it, and, subject to Section 7.01 hereof, shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel provided at the expense of the Issuer or a Subsidiary Guarantor
as conclusive evidence that such amendment or supplement is authorized or permitted by this Indenture, that it is not inconsistent herewith, and that it will be valid and binding upon the Issuer and the Subsidiary Guarantors in accordance with its
terms. 
 ARTICLE X 

GUARANTEE 

SECTION 10.01 Guarantee. 

(a) Notwithstanding any provision of this Article X to the contrary, the provisions of this
Article X relating to the Subsidiary Guarantors shall be applicable only to, and inure solely to the benefit of, the Debt Securities of any series designated, pursuant to
Section 2.01, as entitled to the benefits of the Guarantee of each of the Subsidiary Guarantors. 

(b) For value received, each of the Subsidiary Guarantors hereby fully, unconditionally and absolutely guarantees (the
“Guarantee”) to the Holders and to the Trustee the due and punctual payment of the principal of, premium, if any, and interest on the Debt Securities and all other amounts due and payable under this Indenture and the Debt
Securities by the Issuer, when and as such principal, premium, if any, and interest shall become due and payable, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise, according to the terms of the Debt
Securities and this Indenture, subject to the limitations set forth in Section 10.03. 
 (c)
Failing payment when due of any amount guaranteed pursuant to the Guarantee, for whatever reason, each of the Subsidiary Guarantors will be jointly and severally obligated to pay the same immediately. The Guarantee hereunder is intended to be a
general, unsecured, senior obligation of each of the Subsidiary Guarantors and will rank pari passu in right of payment with all Indebtedness of such Subsidiary Guarantor that is not, by its terms, expressly subordinated in right of payment to the
Guarantee. Each of the Subsidiary Guarantors hereby agrees that its obligations hereunder shall be full, unconditional and absolute, irrespective of the validity, regularity or enforceability of the Debt Securities, the Guarantee (including the
Guarantee of any Subsidiary Guarantor) or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Debt Securities with respect to any provisions hereof or thereof, the recovery of any judgment
against the Issuer or any Subsidiary Guarantor, or any action to enforce the same or any other circumstances which might otherwise constitute a legal or equitable discharge or defense of the Subsidiary Guarantors. Each of the Subsidiary Guarantors
hereby agrees that in the event of a default in payment of the principal of, or premium, if any, or interest on the Debt Securities, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise, legal
proceedings may be instituted by the Trustee on behalf of the Holders or, subject to Section 6.06, by the Holders, on the terms and conditions set forth in this Indenture, directly against such
Subsidiary Guarantor to enforce the Guarantee without first proceeding against the Issuer or any other Subsidiary Guarantor. 

  
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 (d) The obligations of each of the Subsidiary Guarantors under this
Article X shall be as aforesaid full, unconditional and absolute and shall not be impaired, modified, released or limited by any occurrence or condition whatsoever, including, without limitation,
(i) any compromise, settlement, release, waiver, renewal, extension, indulgence or modification of, or any change in, any of the obligations and liabilities of the Issuer or any of the Subsidiary Guarantors contained in the Debt Securities or
this Indenture, (ii) any impairment, modification, release or limitation of the liability of the Issuer, any of the Subsidiary Guarantors or any of their estates in bankruptcy, or any remedy for the enforcement thereof, resulting from the
operation of any present or future provision of any applicable Bankruptcy Law, as amended, or other statute or from the decision of any court, (iii) the assertion or exercise by the Issuer, any of the Subsidiary Guarantors or the Trustee of any
rights or remedies under the Debt Securities or this Indenture or their delay in or failure to assert or exercise any such rights or remedies, (iv) the assignment or the purported assignment of any property as security for the Debt Securities,
including all or any part of the rights of the Issuer or any of the Subsidiary Guarantors under this Indenture, (v) the extension of the time for payment by the Issuer or any of the Subsidiary Guarantors of any payments or other sums or any
part thereof owing or payable under any of the terms and provisions of the Debt Securities or this Indenture or of the time for performance by the Issuer or any of the Subsidiary Guarantors of any other obligations under or arising out of any such
terms and provisions or the extension or the renewal of any thereof, (vi) the modification or amendment (whether material or otherwise) of any duty, agreement or obligation of the Issuer or any of the Subsidiary Guarantors set forth in this
Indenture, (vii) the voluntary or involuntary liquidation, dissolution, sale or other disposition of all or substantially all of the assets, marshaling of assets and liabilities, receivership, insolvency, bankruptcy, assignment for the benefit
of creditors, reorganization, arrangement, composition or readjustment of, or other similar proceeding affecting, the Issuer or any of the Subsidiary Guarantors or any of their respective assets, or the disaffirmance of the Debt Securities, the
Guarantee or this Indenture in any such proceeding, (viii) the release or discharge of the Issuer or any of the Subsidiary Guarantors from the performance or observance of any agreement, covenant, term or condition contained in any of such
instruments by operation of law, (ix) the unenforceability of the Debt Securities, the Guarantee or this Indenture or (x) any other circumstances (other than payment in full or discharge of all amounts guaranteed pursuant to the Guarantee)
which might otherwise constitute a legal or equitable discharge of a surety or guarantor. 
 (e) Each of the Subsidiary Guarantors hereby
(i) waives diligence, presentment, demand of payment, filing of claims with a court in the event of the merger, insolvency or bankruptcy of the Issuer or any of the Subsidiary Guarantors, and all demands whatsoever, (ii) acknowledges that
any agreement, instrument or document evidencing the Guarantee may be transferred and that the benefit of its obligations hereunder shall extend to each holder of any agreement, instrument or document evidencing the Guarantee without notice to it
and (iii) covenants that the Guarantee will not be discharged except by complete performance of the Guarantee. Each of the Subsidiary Guarantors further agrees that if at any time all or any part of any payment theretofore applied by any Person
to the Guarantee is, or must be, rescinded or returned for any reason whatsoever, including without limitation, the insolvency, bankruptcy or reorganization of the Issuer or any of the Subsidiary Guarantors, the Guarantee shall, to the extent that
such payment is or must be rescinded or returned, be deemed to have continued in existence notwithstanding such application, and the Guarantee shall continue to be effective or be reinstated, as the case may be, as though such application had not
been made. 

  
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 (f) Each of the Subsidiary Guarantors shall be subrogated to all rights of the Holders and
the Trustee against the Issuer in respect of any amounts paid by such Subsidiary Guarantor pursuant to the provisions of this Indenture, provided, however, that such Subsidiary Guarantor, shall not be entitled to enforce or to receive any payments
arising out of, or based upon, such right of subrogation until all of the Debt Securities and the Guarantee shall have been paid in full or discharged. 

SECTION 10.02 Execution and Delivery of Guarantee. 

The Guarantee of any Subsidiary Guarantor shall be evidenced solely by its execution and delivery of this Indenture (or, in the case of any
Guarantor that is not party to this Indenture as of the date hereof, a supplemental indenture) and not by an endorsement on, or attachment to, any Note of any Note Guarantee or notation thereof. Each Guarantor hereby agrees that its Note Guarantee
set forth in Section 10.01 shall be and remain in full force and effect notwithstanding any failure to endorse on any Debt Security a notation of such Guarantee. The delivery of any Debt Security by the
Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Guarantees set forth in this Indenture on behalf of each of the Guarantors. 

SECTION 10.03 Limitation on Liability of the Subsidiary Guarantors. 

Each Subsidiary Guarantor and by its acceptance hereof each Holder of a Debt Security entitled to the benefits of the Guarantee hereby confirm
that it is the intention of all such parties that the guarantee by such Subsidiary Guarantor pursuant to its Guarantee not constitute a fraudulent transfer or conveyance for purposes of any federal or state law. To effectuate the foregoing
intention, the Holders of a Debt Security entitled to the benefits of the Guarantee and the Subsidiary Guarantors hereby irrevocably agree that the obligations of each Subsidiary Guarantor under its Guarantee shall be limited to the maximum amount
as will, after giving effect to all other contingent and fixed liabilities of such Subsidiary Guarantor and to any collections from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other
Subsidiary Guarantor under its Guarantee, result in the obligations of such Subsidiary Guarantor under the Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal or state law. 

SECTION 10.04 Release of Subsidiary Guarantors from Guarantee. 

(a) Notwithstanding any other provisions of this Indenture, the Guarantee of any Subsidiary Guarantor may be released upon the terms and
subject to the conditions set forth in this Section 10.04. Any Guarantee incurred by a Subsidiary Guarantor pursuant to this Article X shall be released with respect to any series of Debt Securities
upon satisfaction and discharge of this Indenture with respect to such Debt Securities, or exercise of the legal defeasance option or covenant defeasance option with respect to such Debt Securities, in each case as set forth in Article
VIII. Any Guarantee incurred by a Subsidiary Guarantor pursuant to this Article X shall be unconditionally released and discharged automatically upon (i) any sale, exchange or transfer,

  
 50 

 
whether by way of merger or otherwise, to any Person that is not an Affiliate of the Issuer, of all of the Issuer’s direct or indirect Capital Stock in such Subsidiary Guarantor,
(ii) the merger of such Subsidiary Guarantor into the Issuer or any other Subsidiary Guarantor or the liquidation and dissolution of such Subsidiary Guarantor or (iii) following delivery of a written notice by the Issuer to the Trustee,
upon the release of all Guarantees of the Subsidiary Guarantor with respect to the obligations of the Issuer under the Credit Agreement. 

(b) The Trustee shall deliver an appropriate instrument evidencing any release of a Subsidiary Guarantor from the Guarantee upon receipt of a
written request of the Issuer accompanied by an Officer’s Certificate and an Opinion of Counsel that the Subsidiary Guarantor is entitled to such release in accordance with the provisions of this Indenture. Any Subsidiary Guarantor not so
released remains liable for the full amount of principal of (and premium, if any, on) and interest on the Debt Securities entitled to the benefits of such Guarantee as provided in this Indenture, subject to the limitations of
Section 10.03. 
 SECTION 10.05 Contribution. 

In order to provide for just and equitable contribution among the Subsidiary Guarantors, the Subsidiary Guarantors hereby agree, inter se,
that in the event any payment or distribution is made by any Subsidiary Guarantor (a “Funding Guarantor”) under its Guarantee, such Funding Guarantor shall be entitled to a contribution from each other Subsidiary Guarantor
(as applicable) in a pro rata amount based on the net assets of each Subsidiary Guarantor (including the Funding Guarantor) for all payments, damages and expenses incurred by that Funding Guarantor in discharging the Issuer’s obligations with
respect to the Debt Securities or any other Subsidiary Guarantor’s obligations with respect to its Guarantee. 
 ARTICLE XI 

MISCELLANEOUS 

SECTION 11.01 Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by operation of TIA Section 318(c), the imposed
duties shall control. 
 SECTION 11.02 Notices. 

Any notice or communication by the Issuer, any Subsidiary Guarantor or the Trustee to the others is duly given if in writing and delivered in
person or mailed by first-class mail (registered or certified, return receipt requested), telex, facsimile or overnight air courier guaranteeing next day delivery, to the other’s address: 

If to the Issuer or the Subsidiary Guarantors: 

Targa Resources Corp. 
 811
Louisiana St, Suite 2100 
 Houston Texas 77002 

Attn: Chief Financial Officer 

Telephone: (713) 584-10000 

  
 51 

 Facsimile: (713) 584-1110 

If to the Trustee: 
 U.S. Bank
Trust Company, National Association 
 8 Greenway Plaza, Suite 1100 

Houston, Texas 77046-0892 
 Attn:
Alejandro Hoyos 
 Facsimile: (713) 212-3718 

The Issuer, any Subsidiary Guarantor or the Trustee by notice to the others may designate additional or different addresses for subsequent
notices or communications. 
 All notices and communications shall be deemed to have been duly given: at the time delivered by hand, if
personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if by facsimile; and the next Business Day after timely delivery to the courier, if
sent by overnight air courier guaranteeing next day delivery. 
 Any notice or communication to a Holder shall be mailed by first-class
mail, postage prepaid, to the Holder’s address shown on the register kept by the Registrar. Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee
receives it, except in the case of notice to the Trustee, it is duly given only when received. 
 If the Issuer or a Subsidiary Guarantor
mails a notice or communication to Holders, it shall mail a copy to the others and to the Trustee and each Agent at the same time. 
 All
notices or communications, including without limitation notices to the Trustee, the Issuer or a Subsidiary Guarantor by Holders, shall be in writing, except as otherwise set forth herein. 

In case by reason of the suspension of regular mail service, or by reason of any other cause, it shall be impossible to mail any notice
required by this Indenture, then such method of notification as shall be made with the approval of the Trustee shall constitute a sufficient mailing of such notice. 

SECTION 11.03 Communication by Holders with Other Holders. 

Holders may communicate pursuant to TIA Section 312(b) with other Holders with respect to their rights under this Indenture or the Debt
Securities. The Issuer, the Subsidiary Guarantors, the Trustee, the Registrar and anyone else shall have the protection of TIA Section 312(c). 

  
 52 

 SECTION 11.04 Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Issuer or a Subsidiary Guarantor to the Trustee to take any action under this Indenture, the Issuer or
such Subsidiary Guarantor, as the case may be, shall, if requested by the Trustee, furnish to the Trustee at the expense of the Issuer or such Subsidiary Guarantor, as the case may be: 

(1) an Officer’s Certificate (which shall include the statements set forth in
Section 11.05) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been complied with; and

 (2) an Opinion of Counsel (which shall include the statements set forth in
Section 11.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been complied with. 

SECTION 11.05 Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate
provided pursuant to TIA Section 314(a)(4)) shall comply with the provisions of TIA Section 314(e) and shall include: 

(1) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(2) 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; 
 (3) a statement that, in the opinion of such Person, he or she has
made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with. 

SECTION 11.06 Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or the Paying Agent may make reasonable rules and
set reasonable requirements for its functions. 
 SECTION 11.07 Legal Holidays. 

If a payment date is a Legal Holiday at a Place of Payment, payment may be made at that place on the next succeeding day that is not a Legal
Holiday, and no interest shall accrue for the intervening period. 

  
 53 

 SECTION 11.08 Governing Law. 

THIS INDENTURE, THE DEBT SECURITIES AND THE GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 SECTION 11.09 Waiver of Jury Trial. 

The Issuer, the Subsidiary Guarantors, the Trustee and the Holders of the Debt Securities (by their acceptance of the Debt Securities)
irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of, or relating to, this Indenture, the Debt Securities or the transactions contemplated hereby or thereby.

 SECTION 11.10 No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret another indenture, loan or debt agreement of the Issuer, any Subsidiary Guarantor or any
Subsidiary. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 SECTION 11.11 Successors.

 All agreements of the Issuer and the Subsidiary Guarantors in this Indenture and the Debt Securities shall bind its successors. All
agreements of the Trustee in this Indenture shall bind its successors. 
 SECTION 11.12 Severability. 

In case any provision in this Indenture or in the Debt Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall, to the fullest extent permitted by applicable law, not in any way be affected or impaired thereby. 

SECTION 11.13 Counterpart Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement. 
 SECTION 11.14 Table of Contents, Headings, etc. 

The table of contents, cross-reference table and headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 

  
 54 

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

	
	ISSUER:
	
	TARGA RESOURCES CORP.
	
	By:       /s/ Scott
Rogan                                        
        
	Name:  Scott Rogan
	Title:    Senior Vice President – Finance and Treasurer
	
	SUBSIDIARY GUARANTORS:
	
	GRAND PRIX DEVELOPMENT LLC
	FCPP PIPELINE, LLC
	FLAG CITY PROCESSING PARTNERS, LLC
	LEGEND GAS PIPELINE LLC
	SLIDER WESTOK GATHERING, LLC
	TARGA CAPITAL LLC
	TARGA CAYENNE LLC
	TARGA CHANEY DELL LLC
	TARGA COGEN LLC
	TARGA DELAWARE LLC
	TARGA DOWNSTREAM LLC
	TARGA ENERGY GP LLC
	TARGA GAS MARKETING LLC
	TARGA GAS PIPELINE LLC
	TARGA GAS PROCESSING LLC
	TARGA GP INC.
	TARGA GULF COAST NGL PIPELINE LLC
	TARGA INTRASTATE PIPELINE LLC
	TARGA LA HOLDINGS LLC
	TARGA LA OPERATING LLC
	TARGA LIQUIDS MARKETING AND TRADE LLC
	TARGA LOUISIANA INTRASTATE LLC
	TARGA LP INC.
	TARGA MIDKIFF LLC
	TARGA MIDLAND CRUDE LLC
	TARGA MIDLAND LLC
	TARGA MIDSTREAM SERVICES LLC
	TARGA MLP CAPITAL LLC
	TARGA NGL PIPELINE COMPANY LLC
	TARGA PIPELINE MID-CONTINENT HOLDINGS LLC

 Signature Page to Indenture 

 
							
	TARGA PERMIAN CONDENSATE PIPELINE LLC
	TARGA PIPELINE MID-CONTINENT LLC
	TARGA PIPELINE PARTNERS GP LLC
	TARGA RESOURCES LLC
	TARGA RESOURCES FINANCE CORPORATION
	TARGA RESOURCES GP LLC
	TARGA RESOURCES OPERATING GP LLC
	TARGA RESOURCES OPERATING LLC
	TARGA SOUTHERN DELAWARE LLC
	TARGA SOUTHOK NGL PIPELINE LLC
	TARGA TRAIN 6 LLC
	TARGA TRAIN 8 LLC
	TARGA TRANSPORT LLC
	TPL ARKOMA HOLDINGS LLC
	TPL ARKOMA INC.
	TPL ARKOMA MIDSTREAM LLC
	TPL GAS TREATING LLC
	TPL SOUTHTEX MIDSTREAM LLC
	TPL SOUTHTEX PIPELINE COMPANY LLC
	VELMA INTRASTATE GAS TRANSMISSION COMPANY,
	LLC
	VERSADO GAS PROCESSORS, L.L.C.
		
	By:	 	 /s/ Scott Rogan

		 	Name:	 	Scott Rogan
		 	Title:	 	Senior Vice President – Finance and Treasurer
	
	TARGA PIPELINE OPERATING PARTNERSHIP LP
	
	TARGA PIPELINE PARTNERS LP
		
	By:	 	Targa Pipeline Partners GP LLC, its general partner
		
	By:	 	 /s/ Scott Rogan

		 	Name:	 	Scott Rogan
		 	Title:	 	Senior Vice President – Finance and Treasurer

 Signature Page to Indenture 

 
							
	VELMA GAS PROCESSING COMPANY, LLC
		
	By:	 	TPL Arkoma Inc., its sole member
	
	By:  /s/ Scott
Rogan                                        
            
		 	Name:	 	Scott Rogan	 	
		 	Title:	 	Senior Vice President – Finance and Treasurer
	
	TARGA SOUTHTEX MIDSTREAM COMPANY LP
	TPL SOUTHTEX GAS UTILITY COMPANY LP
	TPL SOUTHTEX MIDSTREAM HOLDING COMPANY LP
	TPL SOUTHTEX PROCESSING COMPANY LP
	TPL SOUTHTEX TRANSMISSION COMPANY LP
		
	By:	 	TPL SouthTex Pipeline Company LLC, its general partner
		
	By:	 	 /s/ Scott Rogan

		 	Name:	 	Scott Rogan
		 	Title:	 	Senior Vice President – Finance and Treasurer
	
	TARGA ENERGY LP
		
	By:	 	Targa Energy GP LLC, its general partner
		
	By:	 	 /s/ Scott Rogan

		 	Name:	 	Scott Rogan
		 	Title:	 	Senior Vice President – Finance and Treasurer
	
	TARGA RESOURCES PARTNERS LP
		
	By:	 	Targa Resources GP LLC, its general partner
		
	By:	 	 /s/ Scott Rogan

		 	Name:	 	Scott Rogan
		 	Title:	 	Senior Vice President – Finance and Treasurer

 Signature Page to Indenture 

 
	
	TRUSTEE:
	
	U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee
	
	By:      /s/ Alejandro
Hoyos                                        

	Name: Alejandro Hoyos
	Title:   Vice President

  
 Signature Page to
Indenture

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