Document:

Shareholders Agreement

 EXHIBIT 10.22 
 ** PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED PURSUANT TO
SYNTEL’S REQUEST TO THE SECRETARY OF THE SECURITIES AND EXCHANGE
COMMISSION FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 24B-2 UNDER THE SECURITIES
AND EXCHANGE ACT OF 1934, AS AMENDED. 
 STATE STREET INTERNATIONAL HOLDINGS, 
 SYNTEL DELAWARE, LLC,

 SYNTEL, INC., 
 and 
 STATE STREET SYNTEL SERVICES 

(MAURITIUS) LIMITED 
  

 
 AMENDED AND RESTATED

 SHAREHOLDERS AGREEMENT 
 relating to 
 STATE STREET SYNTEL SERVICES 

(MAURITIUS) LIMITED 
  

 
  
 As of
February 1, 2012 

 CONTENTS 

 
  

							
	SECTION	 	 	  	PAGE	 
	1.	 	INTERPRETATION	  	 	2	  
	2.	 	BUSINESS AND NAME OF COMPANY	  	 	10	  
	3.	 	OPERATION PLAN	  	 	10	  
	4.	 	EFFECTIVE DATE	  	 	11	  
	5.	 	PROVISION OF FINANCE	  	 	11	  
	6.	 	SERVICE PERSONNEL	  	 	11	  
	7.	 	THE BOARD AND MANAGEMENT	  	 	12	  
	8.	 	SHAREHOLDER MEETINGS	  	 	16	  
	9.	 	INDEMNIFICATION	  	 	17	  
	10.	 	INFORMATION	  	 	20	  
	11.	 	RESERVED MATTERS	  	 	20	  
	12.	 	TRANSFER OF SHARES	  	 	21	  
	13.	 	SSIH’S RIGHT TO PUT	  	 	22	  
	14.	 	SSIH’S RIGHT TO CALL	  	 	22	  
	15.	 	DISSOLUTION AND LIQUIDATION	  	 	24	  
	16.	 	REPRESENTATIONS	  	 	25	  
	17.	 	OPERATING SUBSIDIARY	  	 	26	  
	18.	 	CONFIDENTIALITY	  	 	28	  
	19.	 	COSTS	  	 	28	  
	20.	 	DURATION; TERMINATION	  	 	29	  
	21.	 	MISCELLANEOUS	  	 	29	  
	 Exhibit 1 Deed of Adherence
	  	 	38	  
	 Exhibit 2 Minimum Capital Requirement
	  	 	42	  
	 Exhibit 3 Core Principles
	  	 	43	  
	 Exhibit 4 Reserved Matters
	  	 	44	  
	 Exhibit 5 Investment Procedures
	  	 	47	  

 AMENDED AND RESTATED 

SHAREHOLDERS AGREEMENT 
 THIS AMENDED AND RESTATED SHAREHOLDERS AGREEMENT (this “Agreement”) is dated as of February 1, 2012 and made by and among: 

 

	(1)	STATE STREET INTERNATIONAL HOLDINGS, a company organized under the authority of Chapter 167F, Section 2(6) of the Massachusetts General Laws and
Section 25A of the Federal Reserve Act, as amended, with its principal office at One Lincoln Street, Boston, Massachusetts 02111, USA (“SSIH”); 

 

	(2)	SYNTEL DELAWARE, LLC, a company incorporated under the laws of the State of Delaware, and having its registered office at 1209 Orange Street, Wilmington,
Delaware 19801, USA (“Syntel DE”); 

  

	(3)	 SYNTEL, INC., a Michigan corporation with its principal office located at 525 E. Big Beaver Road, 3rd Floor, Troy, MI 48083, USA (“Syntel”); and

  

	(4)	STATE STREET SYNTEL SERVICES (MAURITIUS) LIMITED (formerly Syntel Solutions (Mauritius) Limited), a company incorporated in Mauritius, and having its registered
office at Rogers House, 5 President John Kennedy Street, P.O. Box 60, Port Louis, Republic of Mauritius (the “Company”). 

 Each of SSIH, Syntel DE, Syntel and the Company and any party which subsequently joins as party to this Agreement as aforesaid are hereinafter referred to individually as a “Party”
and collectively as the “Parties”. 
 WHEREAS 

 

	A.	SSIH and Syntel DE together currently own one hundred percent (100%) of the issued and outstanding Shares (as defined herein below) of the Company;

  

	B.	The Company owns one hundred percent (100%) (except as set forth in the Subscription Agreement, as defined below) of the issued and outstanding equity voting share
capital of State Street Syntel Services Private Limited (formerly, Syntel Sourcing Private Limited), an Indian company incorporated under the (Indian) Companies Act, 1956, as amended (“Companies Act”), with its registered
office at B/101-104, Delphi, “B” wing, Hiranandani Business Park, Powai, Mumbai 400 076, India (“Indian Operating Subsidiary”); and 

 

	C.	SSIH, Syntel DE and the Company are parties to a Shareholders Agreement dated February 1, 2005 in relation to the Company (the “Shareholders
Agreement”), as amended by a First Amendment to Shareholders Agreement dated August 30, 2006 (as so amended, the “Amended Shareholders Agreement”); and 

	D.	SSIH, Syntel DE, Syntel and the Company wish to add Syntel as a party to the Amended Shareholders Agreement, effect certain additional amendments thereto and to restate
such agreement to consolidate the terms and conditions thereof as amended to date. 

 IT IS AGREED as follows: 

 

	1.	INTERPRETATION 

 In this Agreement, unless
the context otherwise requires, the following words and expressions shall have the following meanings: 
  

	1.1	Definitions 

 “Action”
means any claim, controversy, action, cause of action, suit or litigation; 
 “Accounting Policies” means the
accounting policies in relation to the calculation of profits and losses of the JV Group and for the preparation and presentation of the financial statements for the JV Group, as adopted and agreed by the Shareholders and the Company from time to
time; 
 “Affiliate” means, with respect to any person, any other person Controlling, Controlled by, or under common
Control with, such person at the time in question, provided, however, that the Company and the Operating Subsidiary shall not be considered Affiliates of SSIH for purposes of this Agreement; 
 “Agreement” means this Agreement (with all exhibits, schedules and attachments), as amended from time to time; 
 “Amount in Dispute” means, in relation to the Call Option Price, the amount equal to the amount which Syntel DE reasonably and in good faith has determined to be the Call Option
Price less the amount which SSIH reasonably and in good faith has determined to be the Call Option Price, and, in relation to the Claw Back, the amount equal to the amount SSIH reasonably and in good faith has determined to be the Claw Back less the
amount Syntel DE reasonably and in good faith has determined to be the Claw Back; 
 “Auditors” means
Ernst & Young or any one of Deloitte, KPMG or PricewaterhouseCoopers, or their respective Affiliates, or other mutually agreed entity, as appointed pursuant to clause 7.12 from time to time; 

“Board” means the Board of Directors of the Company from time to time; 
 “Business” means the business of the JV Group, as described in Section 2.1; 
 “Business Day” means any day on which the New York Stock Exchange is open for ordinary business; 
 “Call Notice” has the meaning given to such term in Section 14.2; 

“Call Option” means the Call Option as described in Section 14.1; 

  
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 “Call Option Closing Date” has the meaning given to such term in Section 14.7;

 “Call Option Period” has the meaning given to such term in Section 14.4; 

“Call Option Price” means (i) in the event of a Call Notice being issued pursuant to Sections 14.2(a), 14.2(b)
or 14.2(c), the price equivalent to **; or (ii) in the event of a Call Notice being issued pursuant to Section 14.2(b)(to the extent resulting from a material breach of the MSA), 14.2(d) or 14.2(e), the price equivalent to **; 

 “Chairman” means the chairman from time to time of the Board, the Operating Subsidiary Board or of the Operating
Committee, as the context requires; 
 “Class A Common Shares” shall mean those shares designated as “Class A
Common Shares”, without par value, in the capital of the Company; 
 “Class B Common Shares” shall mean those
shares designated as “Class B Common Shares”, without par value, in the capital of the Company; 
 “Class A
Directors” shall mean the directors nominated by the holder of the Class A Common Shares for appointment to the Board, as described in the Constitution; 
 “Class B Directors” shall mean the directors nominated by the holder of the Class B Common Shares for appointment to the Board, as described in the Constitution; 

“Class A Shareholder” shall mean the holder of the Class A Common Shares; 

“Class B Shareholder” shall mean the holder of the Class B Common Shares; 

“Claw Back” has the meaning given to such term in Section 14.11; 

“Company” has the meaning given to such term in the introduction to this Agreement; 

“Company Secretary” means the person performing the office of company secretary of the Company from time to time; 

“Constitution” means the constitution of the Company as amended from time to time; 

“Control” and its derivatives “Controlled” and “Controlling” mean, with regard to
any person: (i) the legal or beneficial ownership, directly or indirectly, of fifty percent (50%) or more of the issued share capital or capital stock of that person (or other ownership interest, if not a corporation); (ii) the
ability to control, directly or indirectly, fifty percent (50%) or more of the voting power in relation to that person; or (iii) the legal power to direct or cause the direction of the general management and policies of that person,
provided that where Control is being determined with respect to a person that is a limited partnership, Control shall be determined by reference to the satisfaction of any of the above tests with respect to the general partner of the limited
partnership; 
 “Core Principles” means the principles set out in Exhibit 3;  

  
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 “Customer” means any customer of State Street or its Affiliates, including any
Affiliates of such customers, and any customer of such customers; 
 “Damages” means all or any damages, claims,
penalties, judgments, fines, costs, amounts paid in settlement, liabilities, obligations, Encumbrances, losses, deficiencies, awards, assessments, reasonable expenses and fees and any Taxes and/or interest, charges, penalties or other amounts
imposed with respect to any Tax by any Governmental Authority and otherwise, including, without limitation, court costs, reasonable attorney’s fees, disbursements, and expenses and costs of investigation, litigation, settlement, obtaining
judgment, judgment interest and other penalties (to the extent permitted by applicable law); 
 “Deed of Adherence”
means a deed of adherence in the form set out in Exhibit 1; 
 “Delegate” has the meaning given to such term in the
MSA; 
 “Director” means any Class A Director or Class B Director appointed to the Board from time to time and/or
any director appointed to the Operating Subsidiary Board from time to time, in each case, in accordance with the terms of this Agreement, as the context requires; 
 “Dispute Notice” means, in relation to any matter in dispute under this Agreement (including any Reserved Matters under Section 11), a written notice setting out in reasonable
detail the underlying facts and the nature of the dispute; 
 “Effective Date” means February 1, 2012; 

“Employee” means any natural person employed by the Company or the Operating Subsidiary but excluding temporary or contract
workers; 
 “Encumbrance” means any interest or equity of any person (including, without limitation, any right to
acquire, option, right of first refusal or right of pre-emption) and any charge, mortgage, security interest, pledge, lien (including retention of title claims), assignment, power of sale or hypothecation and any rental, hire purchase, creditor,
conditional sale or other agreement for payment on deferred terms or any other third party right, restriction or encumbrance of any nature whatsoever (whether or not perfected) and the term Encumber shall be construed accordingly;

 “Financial Year” means the twelve (12) month period commencing on April 1 and ending on March 31
(inclusive); 
 “FTE” has the meaning given to such term in the MSA; 

“Governance Process” has the meaning given to such term in the MSA; 

“Governmental Authority” means any national government or political subdivision thereof (including any state, province, city,
town or municipal authority), any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, or any other government authority, agency, department, board, commission or

  
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instrumentality of United States of America or any other nation or any political subdivision thereof, and any court, tribunal or arbitrator(s) of competent jurisdiction and authority, and, any
governmental or non-governmental self-regulatory organization, agency or authority; 
 “Investment
Procedures” has the meaning given to such term Section 7.16; 
 “JV Group” means the Company,
the Operating Subsidiary and any other subsidiary of the Company or the Operating Subsidiary or where applicable, its Controlled entities from time to time; 
 “Material Event” means that: 
  

	(i)	SSIH (or State Street) is required by law or has been instructed or otherwise requested by the United States Federal Reserve (or any successor principal regulator
thereto) to: 

  

	 	(A)	terminate the relationship with the Class B Shareholder (or any Affiliate thereof) established by this Agreement or 

 

	 	(B)	generally to terminate any substantially similar arrangements or: 

  

	(ii)	SSIH (or State Street) has received a written opinion of counsel to the effect that: 

 

	 	(A)	pursuant to legal or regulatory requirements, SSIH (or State Street) is prohibited from continuing in the relationship with the Class B Shareholder (or any Affiliate
thereof) established by this Agreement or is generally prohibited from continuing any similar arrangements or 

  

	 	(B)	legal or regulatory requirements substantially prohibit or restrict the provision of the Services (as defined in the MSA) (or a material portion thereof) on an
outsourced basis; 

 and SSIH (or State Street) has provided written notice to Syntel DE (or Syntel) of the
occurrence of a Material Event, together with a copy of such opinion (as applicable), and within ten (10) Business Days of receipt by Syntel DE (or Syntel) of such notice and opinion (as applicable) Syntel DE (or Syntel) either: 

 

	 	(a)	notifies SSIH in writing that it wishes jointly with SSIH to retain counsel reasonably acceptable to each party for purposes of providing an independent legal opinion
and such jointly retained counsel confirms the analysis set forth in the opinion received by SSIH (or State Street) under paragraph (ii); or 

  

	 	(b)	does not notify SSIH that it wishes to jointly appoint counsel pursuant to the preceding paragraph. 

“Minimum Capital Requirement” means the minimum capital that the JV Group requires from time to time to carry out the Business
and maintain its capital adequacy, for the Company and the Operating Subsidiary to perform their obligations under this Agreement and the MSA, 

  
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respectively, and to meet the objectives set out in the Operation Plan (including, in each case, amounts necessary to reserve for contingent liabilities, to cover losses and other liabilities and
otherwise maintain capital adequacy), as shall be agreed between the Shareholders no less frequently than annually and included in the Operation Plan and calculated in accordance with the formula set forth in Exhibit 2 hereto (with such amendments
as may be agreed between the Shareholders from time to time); 
 “MSA” means the Amended and Restated Master Services
Agreement by and among State Street, each Affiliate of State Street which becomes a party thereto from time to time, the Operating Subsidiary and Syntel Parent dated on or about the date of this Agreement, as the same may be amended from time to
time; 
 “MSA Effective Date” means the “Effective Date” as that term is defined in the MSA; 

“MSA Term” means the “Term” as that term is defined in the MSA; 

“Net Book Value” means the book value of the assets of the Company or the Operating Subsidiary, as the case may be, used in the
conduct of the Business, less the value of any intangible assets and any liabilities; 
 “Nominee
Shareholder” has the meaning given to such term in Section 17.1; 
 “Notice of
Election” has the meaning given to such term in Section 9.3(b); 
 “Operation Plan” means the
rolling three (3)–year operation plan for the Company as agreed by the holders from time to time of a majority in number of the Class A Common Shares and the holders of a majority in number of the Class B Common Shares; 

 “Operating Committee” means the operating committee established by the Operating Subsidiary Board and
referred to in Section 17.8(a); 
 “Operating Subsidiary” has the meaning given to such term in the recitals to
this Agreement; 
 “Operating Subsidiary Board” means the board of directors of the Operating Subsidiary from time to
time; 
 “Operating Subsidiary Price” has the meaning given to such term in Section 14.5; 

“Permitted Transferee” has the meaning given to such term in Section 12.2; 

“Preferred Shares” means those shares designated as “Preferred Shares”, without par value, in the capital of the
Company, the holders of which shall have no rights other than the right to receive dividends and liquidation proceeds up to the value of their initial issue price, in accordance with the terms set forth in the Constitution; 

  
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 “Press Release” means a press release in the agreed form to be issued by the
parties in connection with the transaction contemplated by this Agreement promptly after the date of this Agreement;  

“Put Notice” has the meaning given to such term in Section 13.1; 
 “Put Option” has the meaning given to such term in Section 13.1; 

“Put Option Period” has the meaning given to such term in Section 13.3; 

“Put Option Price” has the meaning given to such term in Section 13.2; 

“Related-Party Transaction” means any arrangement, undertaking or transaction (written or unwritten) involving the payment of
money or the purchase, sale, transfer or exchange of assets or services (with or without monetary or other consideration) between a company or any of its Affiliates and a director, officer or shareholder of such company or any of its Affiliates;

 “Reserved Board Matters” means those matters set out in item 2 of Exhibit 4; 

“Reserved Matters” means the Reserved Board Matters and/or the Reserved Shareholder Matters, as the case may be. 

“Reserved Shareholder Matters” means those matters set out in item 1 of Exhibit 4; 

“Service Personnel” has the meaning given to such term in the MSA; 
 “Share” means Class A Common Shares, Class B Common Shares and/or the Preferred Shares, as the context requires; 
 “Shareholder” means SSIH and Syntel DE and such other holders of Shares from time to time; 
 “Shareholder Support” means any undertaking, covenant, guarantee of, performance bond from, pledge of Shares or other assets held by, or any other recourse to the assets of, a
Shareholder, and granted or provided by a Shareholder to, or in favor of, any third person in relation to any obligation or liability of the Company or any other member of the JV Group from time to time pursuant to any financing arrangement of the
Company or any other member of the JV Group; 
 “SSIH” has the meaning given to such term in the introduction to this
Agreement; 
 “Standard of Conduct” has the meaning given to such term in Section 6; 

“State Street” means State Street Bank and Trust Company, a Massachusetts trust company with its principal office
at One Lincoln Street, Boston, MA 02111, United States of America; 
 “State Street Standard of Conduct/Code of Ethics”
means the document with that title, a copy of which was provided to Syntel DE and the Company prior to their entry into this Agreement; 

“Surcharge Capital Account” has the meaning given to such term in the MSA; 

  
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 “Syntel” has the meaning given to such term in the introduction to this Agreement;

 “Syntel DE” has the meaning given to such term in the introduction to this Agreement; 

“Tax” means all taxes imposed by any Governmental Authority, including, (i) any tax based upon or measured by income, gross
receipts, sales use or value added; (ii) any taxes denominated as ad valorem, transfer, franchise, capital shares, payroll, employment excise, occupation, property, windfall profits, environmental, customers, or withholding taxes; and
(iii) any interest, penalties, or other amounts imposed with respect to any tax; 
 “Tax Indemnity” has the meaning
given to such term in Section 9.2(b); 
 “Term” means the period beginning on the date of this Agreement and ending
on the Termination Date (inclusive); 
 “Termination Date” means the effective date of termination of this Agreement in
accordance with Section 20; 
 “Third Party” means any person other than Syntel DE, the Operating Subsidiary, SSIH
or their respective Affiliates; 
 “Trademark Licenses” means (i) the Trademark License Agreement dated
February 28, 2008 between State Street Corporation and the Operating Subsidiary and (ii) the Trademark License Agreement dated March 26, 2008 between State Street Corporation and the Company, pursuant to which Operating Subsidiary and
the Company, respectively, is granted a limited license to use the “State Street” name; 
 “United States
Dollars”, “USD” and “US$” means the lawful currency of the United States of America; and 
  

	1.2	Construction of certain references 

 In this Agreement unless otherwise specified: 
  

	(a)	the index and headings are for ease of reference only and shall not be taken into account in construing this Agreement; 

 

	(b)	references to this Agreement or any other document shall be construed as references to this Agreement or that other document as amended, varied, novated, supplemented
or replaced from time to time; 

  

	(c)	references to any recital, Section, paragraph, Schedule or Exhibit are to those contained in this Agreement, and references to a part of a Schedule or Exhibit are to
the part of the relevant Schedule or Exhibit in which the reference appears and all Schedules and Exhibits to this Agreement are an integral part of this Agreement; 

  
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	(d)	the expression “this Section” shall, unless followed by reference to a specific provision, be deemed to refer to the whole Section (not merely
the Section, sub-Section, paragraph or other provision of such Section) in which the expression occurs; 

  

	(e)	references to a Party includes that Party’s successors in title and assigns or transferees permitted in accordance with the terms of this Agreement provided that
the relevant property, right or liability has been properly assigned or transferred to such person; 

  

	(f)	references to a Director shall, where the context allows, include reference to the alternate of such Director; 

 

	(g)	references to any gender shall include the other gender and words in the singular include the plural and vice versa unless the context requires otherwise;

  

	(h)	law includes any legislation, any common or customary law, constitution, decree, judgment, order, ordinance, treaty or other legislative measure in any jurisdiction and
any present or future directive, notification, circular, request, requirement or guideline (in each case, whether or not having the force of law but, if not having the force of law, compliance with which is in accordance with the general practice of
persons to whom the directive, notification, circular, request, requirement or guideline is addressed); 

  

	(i)	references to legislation include any statute, by-law, regulation, rule, notification, circular, subordinate or delegated legislation or order; and reference to any
legislation is to such legislation or order as amended, modified or consolidated from time to time and to any legislation replacing it or made under it; 

  

	(j)	reference to a person (or to a word importing a person) shall be construed so as to include: 

 

	 	(i)	a natural person, firm, partnership, trust, joint venture, company, corporation, body corporate, unincorporated body, association, organization or any Governmental
Authority (whether or not in each case having separate legal personality); 

  

	 	(ii)	that person’s successors in title and assigns or transferees permitted in accordance with the terms of this Agreement; and 

 

	 	(iii)	references to a person’s representatives shall be to its officers, employees, legal or other professional advisers, sub-contractors, agents, attorneys and other
duly authorized representatives; 

  

	(k)	references to writing includes any communication made by letter, fax or e-mail; and 

 

	(l)	capitalized terms used herein without definition shall have the meaning ascribed thereto in the MSA unless the context otherwise requires. 

  
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	2.	BUSINESS AND NAME OF COMPANY 

 2.1
The sole business of the Company shall be to act as an investment holding company and to acquire and manage directly or indirectly the equity controlling interest in the Operating Subsidiary and such other operating subsidiaries as the Company may
establish from time to time, whose sole business purpose in each case shall be to provide business process outsourcing services to State Street and its Affiliates in accordance with the MSA (collectively, the “Business”).

 2.2 In relation to any additional operating subsidiaries established by the Company from time to time in connection with the Business, the
Parties shall be bound by and comply with the terms and conditions of this Agreement that relate to the Operating Subsidiary and each Shareholder undertakes to the other and with the Company that it shall exercise all its powers in relation to the
Company so as to procure (insofar as it is able) and the Company undertakes to the Shareholders that it shall ensure that any such additional operating subsidiaries are operated and managed in accordance with the requirements for the operation and
management of the Operating Subsidiary, as set out in this Agreement. The Parties shall take all such actions as may be reasonably necessary and may be in their respective power (including by executing Deeds of Adherence, by preparing and executing
amendments to the MSA or to this Agreement, by preparing and executing new constituitive documents and services agreements or by causing similar documents to be prepared and executed) to give effect to this Section 2.2. 

2.3 SSIH and Syntel DE acknowledge and agree that (i) the relationship between them is not exclusive, (ii) no duty of loyalty or obligation
with respect to corporate opportunities exists between them and (iii) each Party and its Affiliates may pursue and enter into joint ventures or other business arrangements with other persons for the receipt or provision of similar or disimilar
services anywhere in the world, subject to any restrictions set forth in this Agreement or the MSA. 
 2.4 If, at any time SSIH (or an Affliate
thereof) or Syntel DE (or an Affliate thereof) ceases to own the Class A or Class B Common Shares, respectively the Shareholders and the Company shall, as soon as reasonably possible and in any event by no later than the day being thirty
(30) days from such event, take all such steps as are reasonably necessary and as may be in their respective power to change the name of the Company and the Operating Subsidiary to a name that does not in any manner whatsoever include any
tradename or trademark of State Street or Syntel, as the case may be, or any words similar thereto in any language. Any such name change shall also be made, as soon as reasonably possible, on all letterhead, signs, logos, literature and any other
items of the Company and the Operating Subsidiary that identify the Company, the Operating Subsidiary or their respective businesses as being affiliated with State Street or its Affiliates or Syntel or its Affiliates, as the case may be. 

 

	3.	OPERATION PLAN 

 3.1 The
Shareholders and the Company agree that the Operation Plan of the Company shall be agreed by the Shareholders within sixty (60) days of the Effective Date and shall be subject at all times to the terms and conditions of this Agreement and the
MSA. 

  
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	3.2	During the Term, the Shareholders shall cooperate in good faith to: 

  

	(a)	review and update the Operation Plan no less frequently than annually to cover each successive three (3)-year period in each case in accordance with the Core Principles
save to the extent otherwise agreed by the Shareholders; 

  

	(b)	submit agreed revisions and updates to the Operation Plan to the Board for approval no later than sixty (60) days prior to the last Business Day of each Financial
Year; and 

  

	(c)	procure that the Board approves revisions and updates to the Operation Plan prior to the last Business Day of the Financial Year. 

3.3 If the Shareholders or the Board do not agree on any revision or update to the Operation Plan then either Shareholder may deliver to the other a
Dispute Notice setting out details of the revision or update which is in dispute and such dispute shall be submitted for resolution in accordance with the Governance Process provided that for so long as any revision or update to the Operation Plan
has not been agreed the Shareholders shall exercise their powers in relation to the Company and the Operating Subsidiary to ensure that the business is carried on substantially in accordance with the then current Operation Plan, subject at all times
to the terms and conditions of this Agreement and the MSA. 
  

	4.	EFFECTIVE DATE 

 This Agreement
shall come into force and effect from the Effective Date. 
  

	5.	PROVISION OF FINANCE 

  

	5.1	** 

  

	5.2	** 

  

	5.3	** 

  

	5.4	** 

  

	5.5	If either Shareholder determines at any time that the Minimum Capital Requirement agreed as part of the Operation Plan has become inadequate or is reasonably likely to
become inadequate or, as the case may be, has become more than necessary or desirable or is reasonably likely to become more than necessary or desirable in relation to the capital needs of the JV Group or the Business, such Shareholder may develop
and submit an updated Operation Plan to the Board proposing an appropriate increase or decrease (as the case may be) in the Minimum Capital Requirement for its consideration and approval. 

 

	5.6	** 

  

	5.7	If for any reason the majority of the Board (comprising at least one Class A Director and one Class B Director) does not: (i) agree that the Minimum Capital Requirement
has been or is reasonably likely to be breached or on the amount of additional capital required to cure or prevent such a breach following notice under Section 5.4, (ii) approve a proposed update to the Operation Plan under Section 5.5, or (iii)
agree that the Minimum Capital Requirement has been exceeded or the amount of that excess for purposes of Section 5.6, then either Shareholder may deliver to the other a Dispute Notice and such dispute shall be submitted for resolution in accordance
with the Governance Process, provided that the Minimum Capital Requirement shall be calculated in accordance with the provisions of Exhibit 2. 

  

	5.8	** 

  

	6.	SERVICE PERSONNEL 

 6.1 At all times
during the Term, the Company and the Operating Subsidiary will have in place a set of standards and rules (collectively, the “Standard of Conduct”) agreed by SSIH (or State Street) and Syntel DE (or Syntel) from time to time
which shall apply to any and all 

  
 -11-

 
Service Personnel and which shall at all times meet or exceed the State Street Standard of Conduct/Code of Ethics as applicable (to the extent lawful) as amended from time to time. The
Shareholders shall cause their respective Directors and their appointees to the Operating Subsidiary Board to cause each of the Company and the Operating Subsidiary to maintain in place and enforce the Standard of Conduct in compliance with the
terms of this Section 6. Prior to the commencement of their employment with the Company or the Operating Subsidiary, as the case may be, each Employee shall provide a written undertaking to the Company or the Operating Subsidiary, as
applicable, pursuant to which the Employee agrees (i) to perform his or her duties, responsibilities and functions to the Company or the Operating Subsidiary, as the case may be, to the best of his or her abilities in a diligent, trustworthy,
professional and efficient manner, and (ii) to comply with the Company’s or the Operating Subsidiary’s policies and procedures, as applicable, including, without limitation, the Standard of Conduct. The Company shall require, and
shall procure that the Operating Subsidiary requires, all Service Personnel employed by an approved Affiliate or Delegate to provide the aforementioned written undertaking prior to the conduct of any activity for or on their behalf. 

 

	7.	THE BOARD AND MANAGEMENT 

  

	7.1	Action by the Board 

 ** 

 

	7.2	Directors 

  

	(a)	The Board shall consist of ** Directors, ** of whom (including one Mauritian resident Director) shall be nominated and elected by the Class A Shareholder and
considered “Class A Directors” and ** of whom (including one Mauritian resident Director) shall be nominated and elected by the Class B Shareholder and considered “Class B Directors”. Once nominated, the Shareholders agree to
take all action necessary or desirable so as to cause the number of Directors and the members of the Board to be as set forth herein and in the Constitution. Any person nominated as a Director by a Shareholder shall be appointed and may be removed
from such office only by the relevant nominating Shareholder, by a memorandum signed in writing by such Shareholder, which shall take effect from the date stated in such memorandum or, if no such date shall be stated, from the date when such
memorandum is lodged at the registered office of the Company. Unless otherwise required by the Constitution, no further action shall be required by the Board to effect the removal and replacement of a Director. For the avoidance of doubt, a Director
shall be removed from office without notice if he is guilty of any gross default or misconduct in connection with or affecting the Business, or is guilty of fraud, dishonesty or any criminal offence or in the event he ceases to be employed by a
Shareholder (or one of their Affiliates) (excluding the Mauritian resident Directors), provided, in each case, that a replacement Director shall be promptly nominated by the Class A Shareholder or Class B Shareholder, as applicable.

  
 -12-

	(b)	If either Shareholder removes a Director in accordance with its rights to do so under this Agreement and the Constitution, it shall be responsible for and indemnify the
other Shareholder and the Company against any and all claims by such Director for unfair or wrongful dismissal or other compensation arising out of such removal and against any losses, costs or expenses suffered or reasonably incurred as a result
thereof. 

  

	7.3	Alternate Directors 

 Subject to
Section 7.2, any Director appointed to the Board shall be entitled to nominate an alternate to attend and vote at Board meetings in his or her absence. 
  

	7.4	Chairman 

 ** 

 

	7.5	Board Meetings 

 Board meetings shall be
held at the registered office of the Company and the Board shall meet at least once in every calendar quarter, or as otherwise prescribed by law, and any gap between each meeting shall not exceed five (5) calendar months. Except as otherwise
agreed by all the Directors: 
  

	(a)	Board meetings shall be convened by any Director or the Company Secretary by not less than five (5) Business Days’ notice, or where the particular
circumstances require a shorter period, such shorter period as the circumstances reasonably require, sent to each Director; 

  

	(b)	notice shall be sent to each Director at the address, fax number and/or e-mail address notified to the Company for these purposes; 

 

	(c)	each notice of a Board meeting shall be accompanied by a full agenda and all supporting papers; 

 

	(d)	each Board meeting shall deal with the business set out in the agenda which accompanied the notice convening that Board meeting and, in the event any other business is
raised at such meeting, it shall only be considered to the extent it is so approved by at least one Class A Director and one Class B Director (who are not also Mauritian resident Directors); 

 

	(e)	minutes of each meeting of the Board shall be taken and kept by the Company Secretary in the books of the Company. Copies of the minutes of each such meeting shall be
delivered to each member of the Board as soon as practicable. If a member has not been present at the meeting, copies of all papers considered by the Board at the meeting shall be sent to him with the minutes; 

 

	(f)	any Director may participate in a Board meeting by means of a telephone or video conference, and the Chairman may appoint any Director who is physically present in
Mauritius to chair any such meeting; provided that if the Chairman is not present at a meeting, and where a chairman of the meeting has not been appointed by the Chairman, the Directors present may choose one of their number to be chairman of the
meeting; and 

  
 -13-

	(g)	notwithstanding any other provisions of this Section 7, a resolution in writing signed by all Directors (which resolution may consist of several counterparts)
shall be as valid and effective as if it had been adopted by a duly convened meeting of the Board. 

  

	7.6	Quorum 

 The quorum for a Board meeting
shall be one Mauritian resident Class A Director and one Mauritian resident Class B Director, or their alternates, present in Mauritius in person and one Class A Director and Class B Director (neither of whom are Mauritian resident
Directors), or their alternates, present in Mauritius in person or participating by means of telephone or video conference. If within thirty (30) minutes of the time appointed for a Board meeting there is no quorum, the Director(s) present
shall adjourn the meeting to such date, time and place as they may determine, provided that at such adjourned meeting the same quorum requirement shall apply. 
  

	7.7	Board Committees 

 Subject to the
Constitution and Exhibit 4 hereto, the Board may function through one or more committees, comprised of Board and non-Board members, as the Board deems appropriate, provided that no meeting of any such committee shall be validly constituted
unless a prior written notice of such meeting is provided to all committee members, including an appointee of each of the Class A and Class B Shareholders specified for the purpose of this Section 7.7 by the Shareholders in writing from
time to time. Every such notice of a meeting shall specify the place and the day and hour of the meeting and shall contain a statement of the business to be transacted thereat. 

 

	7.8	Shareholders to Procure Director’s Resignation 

 In the event that SSIH exercises the Call Option or Put Option, as the case may be, then the Shareholder selling its Shares shall procure the resignation of the Directors appointed by it and shall procure
that such Directors resign promptly and without cost to the Company. 
  

	7.9	Directors may pass information to their Appointer 

 A Director may from time to time disclose to the Shareholder who appointed him and its representatives such information regarding the Business as may be reasonably required by such Shareholder for the
purposes contemplated by this Agreement provided that the receipt and use of such information shall be subject to the provisions of Section 18 hereof. 

  
 -14-

	7.10	Directors’ Expenses 

 The
Class A Shareholder shall reimburse each Class A Director and the Class B Shareholder reimburse each Class B Director for all reasonable travel, hotel and other expenses incurred by that Director in attending Board and committee meetings
or otherwise in representing the Company provided that the Company may, at the sole discretion of the majority of the Board (comprising at least one Class A Director and one Class B Director), reimburse any such Director for such expenses.

  

	7.11	Officers 

 Subject to the terms of the
MSA, as applicable, the senior managers and executives of the Company (which, for the avoidance of doubt, does not include the Directors) (“Officers”), shall be mutually agreed by the parties and shall be nominated for
appointment and removal by the Class B Shareholder by notice in writing to the Company. The Officers shall be appointed and may be removed by simple majority vote of the Board. 

 

	7.12	Auditors 

 The Class A Directors
shall be entitled to designate the Auditors to be appointed for the Company and the Operating Subsidiary from time to time, and the Shareholders shall cause their respective Directors and their appointees to the Operating Subsidiary Board to vote in
favor of the Auditors so recommended. 
  

	7.13	Allocation of Profits and Losses 

  

	(a)	The Shareholders shall procure that the Board adopts the policy set out in this Section 7.13 with respect to the allocation of profits and losses of the Company
and the Operating Subsidiary during the Term. 

  

	(b)	** 

  

	(c)	** 

  

	(d)	Each of the Company and the Operating Subsidiary shall adopt the Accounting Policies in relation to the calculation of profits and losses for the JV Group and in
respect of the preparation and presentation of the financial statements for all members of the JV Group. 

  

	(e)	** 

  

	(f)	** 

  

	7.14	Insurance 

 The Shareholders shall procure
that their respective Directors and their appointees to the Operating Subsidiary Board cause each of the Company and the Operating Subsidiary to maintain in place insurance meeting the policy and coverage requirements set forth in Section 5.15
the MSA with respect to both the Company and the Operating Subsidiary. 

  
 -15-

	7.15	Affiliated and Related Party Transactions 

Subject at all times to compliance with Section 11, the Shareholders shall cause their respective Directors and their appointees to the Operating
Subsidiary Board to cause each of the Company and the Operating Subsidiary to ensure that all transactions and business dealings (i) between the Company and the Operating Subsidiary, (ii) between either the Company or the Operating
Subsidiary, on the one hand, and any Affiliate thereof, on the other hand, or (iii) that constitute Related-Party Transactions, are undertaken and effected at arms length terms and conditions and reflect prevailing market rates for the
applicable assets or services involved. 
  

	7.16	Investment of Surplus Capital and Retained Earnings 

 In order to ensure SSIH and its Affiliates maintain compliance with Regulation K of the Board of Governors of the U.S. Federal Reserve System, the Company shall comply, and shall procure that the
Operating Subsidiary complies, with the investment procedures (“Investment Procedures”) attached hereto as 0. 
  

	8.	SHAREHOLDER MEETINGS 

  

	8.1	Notice of Shareholder Meetings 

 Written
notice of the time and place of a meeting of Shareholders shall be sent in accordance with Section 21.1 to every Shareholder entitled to receive notice of such meetings, to the Auditors and to every Director and Company Secretary of the
Company, in each case at the number or address provided for such purpose to the Company Secretary. 
  

	8.2	Quorum for Shareholder Meetings 

 The
quorum for a Shareholders’ meeting of the Company shall be an authorized representative or authorized representatives together representing the Class A Shareholder and the Class B Shareholder and together holding more than fifty one
percent (51%) of the Company’s share capital having a voting right. If within thirty (30) minutes of the time appointed for a Shareholders’ meeting of the Company there is no quorum, the meeting shall be adjourned to such date,
time and place as the Directors may appoint; provided that at such adjourned meeting the quorum shall be an authorized representative or representatives together representing a member or members holding more than fifty one percent (51%) of the
Company’s share capital having a voting right, present in person or represented by proxy(ies). 
  

	8.3	Chairman of Shareholder Meetings 

 The
chairman of any Shareholders’ meeting of the Company shall be the Chairman but such chairman shall not be entitled to any voting rights (except to the extent he or she acts as a proxy). In the event the Chairman is absent from any
Shareholders’ meeting, the Shareholders present at that meeting shall elect a chairman to act as such at that meeting. 

  
 -16-

	8.4	Resolution in Writing 

 Notwithstanding
any other provisions of this Section 8, a resolution in writing signed by all Shareholders (which resolution may consist of several counterparts) shall be as valid and effective as if it had been passed at a duly convened Shareholders’
meeting. 
  

	9.	INDEMNIFICATION 

  

	9.1	Indemnification by SSIH 

 SSIH shall,
subject to the further provisions of this Section 9, indemnify, defend and hold Syntel DE, its Affiliates, the Company and Syntel DE’s successors and permitted assigns harmless from and against any and all Damages incurred by any of them
as a result of, arising from, or in connection with, or relating to any breach by SSIH of any of its representations, warranties, covenants or obligations contained in this Agreement except to the extent any such Damages result or arise from or are
connected or relate to: 
  

	(a)	a breach of this Agreement by Syntel DE, or the negligence, fraud, wilful or intentional default of the Company or Syntel DE or any of its Affiliates; or

  

	(b)	a breach by any Class B Director or any director of the Operating Subsidiary appointed by the Class B Shareholder of his or her fiduciary duties to the Company or the
Operating Subsidiary, as the case may be, or the negligence, fraud, willful or intentional default of any such director. 

  

	9.2	Indemnification by Syntel DE 

  

	(a)	Syntel DE shall, subject to the further provisions of this Section 9, indemnify, defend and hold SSIH, its Affiliates and and SSIH’s successors and permitted
assigns (including, without limitation, the Company), harmless from and against any and all Damages incurred by any of them as a result of, arising from, or in connection with, or relating to any breach by the Company or Syntel DE of any of its
representations, warranties, covenants or obligations contained in this Agreement, except to the extent any such Damages result or arise from, or are connected or relate to: 

 

	 	(i)	a breach of this Agreement by SSIH, or the negligence, fraud, willful or intentional default of, SSIH or any of its Affiliates; or 

 

	 	(ii)	a breach by any Class A Director (excluding any Mauritius resident director) or any director of the Operating Subsidiary appointed by the Class A Shareholder
of his or her fiduciary duties to the Company or the Operating Subsidiary, as the case may be, or the negligence, fraud, willful or intentional default of any such director or 

 

	 	(iii)	(excluding and without prejudice to the obligations of Syntel DE under Section 5 above or any obligations of Syntel under the MSA), any claim arising under the
MSA. 

  
 -17-

	(b)	** 

  

	(c)	Syntel shall, subject to the further provisions of this Section 9, indemnify, defend and hold SSIH, its Affiliates and SSIH’s successors and permitted assigns
(including, for avoidance of doubt, the Class A Directors and the directors of the Operating Subsidiary Board appointed by the Class A Shareholder), harmless from and against any and all Damages incurred by any of them as a result of,
arising from, or in connection with, or relating to the ownership, management, operation and/or conduct of the business of the Company or the Operating Subsidiary resulting or arising from or connected or related to events, facts or circumstances
occurring prior to the Call Option Closing Date (if any), including, for avoidance of doubt, any Damages incurred on or after the Call Option Closing Date to the extent that such Damages result or arise from or are connected or related to events,
facts or circumstances occurring prior to the Call Option Closing Date, excluding any Damages to the exent they result or arise from or are connected or related to a breach by any Class A Director or any director of the Operating Subsidiary
appointed by the Class A Shareholder of his or her fiduciary duties to the Company or the Operating Subsidiary, as the case may be, or the negligence, fraud, willful or intentional default of any such director. 

 

	9.3	Indemnification Procedures 

  

	(a)	With respect to Third Party claims involving a formal civil, criminal, administrative, or investigative action or proceeding, the procedures set forth in sub-sections
(a) through (d) below shall apply. 

  

	(b)	Promptly after receipt of notice of the commencement or threatened commencement of such a Third Party claim for which an indemnitee will seek indemnification pursuant
to any part of this Section 9, the relevant indemnitee will notify the indemnitor of such claim in writing. No failure to so notify the indemnitor will relieve it of its obligations under this Agreement except to the extent that it can
demonstrate material prejudice attributable to such failure. Within fifteen (15) days following receipt of written notice from the indemnitee relating to any claim, the indemnitor will notify the indemnitee in writing if the indemnitor elects
to assume control over the defense and settlement of that claim (a “Notice of Election”). 

  

	(c)	If the indemnifying party delivers a Notice of Election relating to any claim within the required notice period, the indemnitor will be entitled to control in good
faith the defense and settlement of such claim and will be entitled to employ counsel at its own expense to undertake the handling of the claim. Notwithstanding the indemnitor’s right to control the defense and settlement of the claim, the
indemnitee shall retain the right to participate in the defense of the claim and the indemnitor shall not settle, compromise or consent to entry of any judgment relating to such claim without the express written consent of the indemnitee (which
consent will not be unreasonably withheld, conditioned or delayed) if the terms of such settlement or compromise (i) involve any remedy other than the payment of money damages, (ii) include any admission of fault or liability or adversely
affect the rights or obligations of the indemnitee or (iii) do not include a full and unconditional release of all liability in respect of such claim in favor of the indemnitee. 

  
 -18-

	(d)	If the indemnitor does not deliver a Notice of Election relating to any claim within the required notice period, the indemnitee will have the right to defend the claim
in such manner as it may deem appropriate without the participation of the indemnitor, provided that it will not settle, compromise or consent to entry of any judgment relating to such claim without the express written consent of the indemnitor,
which consent will not be unreasonable withheld, conditioned or delayed. 

  

	(e)	Any indemnifiable claim under this Agreement that is not a Third Party claim must be asserted by the indemnified party by delivery of written notice thereof as soon as
possible and, in any event within ten (10) Business Days of becoming aware of the indemnifiable claim, to the indemnifying party. The failure by the indemnified party to notify an indemnifying party of such a claim shall not relieve the
indemnifying party of any indemnification responsibility under this Section 9, except to the extent such failure materially prejudices the indemnifying party with respect to such claim. 

 

	9.4	Right to Indemnification Not Affected by Knowledge 

 The right to indemnification, payment of Damages or other remedy based on the representations, warranties, covenants, obligations and agreements contained in this Agreement shall not be affected by any
investigation conducted with respect to, or any knowledge acquired (or capable of being acquired) at any time, whether before or after the Effective Date, with respect to the accuracy or inaccuracy of or compliance or non-compliance with, any such
representation, warranty, covenant, obligation or agreement. 
  

	9.5	Exclusion of Consequential Damages 

 None
of SSIH, Syntel DE or Syntel (nor any of their Affiliates) will be liable under or in connection with this Agreement for indirect, special or consequential damages, including any lost profits of the Shareholders (or any of their Affiliates), except
to the extent resulting from (i) its gross negligence, fraud or willful or intentional default (ii) breach of its confidentiality or data protection obligations, or (iii) infringement of intellectual property or third party rights.

  

	9.6	Dollar Cap on Liability 

 Except for
Losses arising from a Party’s fraud, gross negligence or willful or intentional default, each Party’s (which in the case of Syntel DE, Syntel and the Company shall be deemed to refer to them collectively) total aggregate liability for
Losses arising out of or in connection with this Agreement and their or their respective Affiliates’ under the MSA regardless of the form of the action or the theory of recovery (whether in contract, tort (including breach of warranty,
negligence, or strict liability), indemnity or other legal or equitable theory), shall be limited to and shall not exceed: 
  

	(a)	** 

  

	(b)	** 

  
 -19-

 For the avoidance of doubt, the liability limitations in this Section 9.6 apply in the aggregate to
each Party and its Affiliates liability for any and all claims brought under the MSA and the Shareholders Agreement and shall survive failure of an exclusive remedy. 
  

	10.	INFORMATION 

 10.1 Subject to the
provisions of Section 18 hereof, the Company shall provide to each Shareholder and the Directors and, where requested, to their representatives, copies of all financial statements, business plans, audit reports and other information which the
Company receives from the Operating Subsidiary and, without prejudice to the foregoing, the Company shall keep the Shareholders fully and promptly informed of all material developments regarding the financial and business affairs and all significant
events (including any material litigation or arbitration) which will or may have a material adverse effect on any Party. 
 10.2 The Shareholders
shall use their reasonable endeavors to procure and the Company shall procure that the Operating Subsidiary produces such analyses and reports on its conditions and activities (financial, operational or otherwise) as may be requested by the Chairman
from time to time. 
  

	11.	RESERVED MATTERS 

 The Shareholders shall
procure, so far as they are legally able, that no action or decision is taken (whether by the Company, the Operating Subsidiary, the Directors of those entities, the Operating Committee or any other member of the JV Group), as the case applies, in
respect of the matters specified: 
  

	(a)	in item 1 of Exhibit 4, being the Reserved Shareholder Matters, unless: 

 

	 	(i)	in the case of a matter relating to the Company, it is approved by both the Class A Shareholder and the Class B Shareholder; and 

 

	 	(ii)	in the case of a matter relating to the Operating Subsidiary, it is approved by the Company acting by a majority of the Board (and provided that the Directors approving
the relevant matter comprise at least one Class A Director and at least One Class B Director); 

  

	(b)	in item 2 of Exhibit 4, being the Reserved Board Matters, unless: 

  

	 	(i)	in the case of a matter relating to the Company, it is approved by a majority of the Directors and provided that the Directors approving the relevant matter comprise a
majority of the Class A Directors and a majority of the Class B Directors; 

  

	 	(ii)	in the case of a matter relating to the Operating Subsidiary, it is approved by a majority of the directors of the Operating Subsidiary, and provided that the directors
approving the relevant matter comprise a majority of Class A Shareholder appointees and a majority of Class B Shareholder appointees. 

  
 -20-

	12.	TRANSFER OF SHARES 

  

	12.1	Restrictions on Transfer 

  

	(a)	No Shareholder shall assign, transfer, exchange, Encumber or otherwise dispose of any of the Shares held by it or any interest in them except: 

 

	 	(i)	with the prior written consent of both the Class A Shareholder and the Class B Shareholder; or 

 

	 	(ii)	in accordance with the provisions of Section 12.2. 

  

	(b)	The Company shall not assign, transfer, exchange, Encumber or otherwise dispose of any of the shares held by it in the Operating Subsidiary or any interest in them
except with the prior written consent of the Class A Shareholder and the Class B Shareholder. The Shareholders shall procure compliance by the Company with this Section 12.1(b). 

 

	12.2	Permitted Transfers 

Notwithstanding the provisions of Section 12.1, a Shareholder may transfer all or part of its Shares to any of its wholly-owned direct or
indirect Affiliates (a “Permitted Transferee”) provided that: 
  

	(a)	the transferring Shareholder shall remain jointly and severally liable for any and all of the transferring Shareholder’s and the Permitted Transferee’s
obligations under this Agreement and any Shareholder Support arrangements entered into by the Permitted Transferee in connection with this Agreement; 

  

	(b)	the Permitted Transferee shall immediately transfer all of its Shares to the transferor Shareholder or to another Permitted Transferee of the transferor Shareholder
immediately upon the Permitted Transferee ceasing to be an Affiliate of the transferor Shareholder; and 

  

	(c)	the Permitted Transferee shall enter into a Deed of Adherence substantially in the form of Exhibit 1 under which it agrees to become Party to and to be bound by
the terms of this Agreement. Thereafter any reference to a Party or Shareholder herein shall be deemed to include a reference to such transferee as if named herein as a Party. 

 

	12.3	Directors’ Right to Verify Transfers 

The Shareholders shall procure that their respective appointees to the Board shall refuse to register a transfer of Shares until they are supplied with
evidence sufficient to verify that such transfer is to a Permitted Transferee and that the other conditions set forth in Section 12.2 have been satisfied in full. 

  
 -21-

	12.4	General Consent under the Constitution 

Each of the Parties expressly understands and agrees to give effect to each transfer made in accordance with this Section 12 and agrees to cause the
Board to register each such transfer pursuant to the terms of this Agreement. 
  

	13.	SSIH’S RIGHT TO PUT 

 13.1 During the
Term SSIH shall have the right to give a notice (“Put Notice”) to Syntel DE at any time after the date on which State Street or an Affiliate of State Street becomes entitled to terminate the MSA, requiring Syntel DE to
purchase all, but not less than all, of the Shares of the Company owned by SSIH or its Affiliates or their designees or nominees at that time free and clear of all Encumbrances (the “Put Option”). 

13.2 The price payable by Syntel DE for the Shares of the Company which are the subject of the Put Option (the “Put Option
Shares”) shall be an amount equal to ** (the “Put Option Price”). 
 13.3 Within thirty (30) days of a
Put Notice being given (the “Put Option Period”), Syntel DE shall be obligated to purchase, and SSIH or its Affiliates or their designees or nominees shall be obligated to sell, free and clear of all Encumbrances, the Put
Option Shares as specified in the Put Notice at the Put Option Price of such Shares (together with any stamp duty payable under the then applicable laws and any transfer fees payable under the constitutive documents for the Company which shall be
paid by Syntel DE on or before completion of the transfer). 
 13.4 In the event that SSIH exercises the Put Option, Syntel DE shall also be
obligated to and shall at the same time purchase, at a price not exceeding ** (together with any stamp duty payable under the then applicable laws and any transfer fees payable under the articles of association of the Operating Subsidiary which
shall be paid by Syntel DE on or before completion of the transfer), all, but not less than all, of the nominee shares of the Operating Subsidiary held by SSIH or its Affiliates or their designees or nominees at that time. 

13.5 The purchase and sale of the Put Option Shares (and any nominee shares of the Operating Subsidiary) shall be completed within the Put Option Period,
subject to receipt of applicable governmental, regulatory or corporate approvals and/or filings that may be required under applicable laws. 
  

	14.	SSIH’S RIGHT TO CALL 

 14.1 In
accordance with the terms of this Section 14, SSIH shall have the right to purchase all, but not less than all, of the Shares of the Company owned by Syntel DE or its Affiliates or their designees or nominees, free and clear of all
Encumbrances, at the relevant Call Option Price (the “Call Option”). 

  
 -22-

 14.2 Notwithstanding Section 12.1, SSIH shall have the right to issue a notice (“Call
Notice”) to Syntel DE exercising the Call Option: 
  

	(a)	for a period of thirty (30) days commencing on the first Business Day of the ninety (90)-day period immediately preceding the expiration of the Initial Term (as
defined in the MSA) or, if extended pursuant to Section 16.2 of the MSA, the Renewal Term (as defined in the MSA); 

  

	(b)	upon notice to Syntel DE in writing, at any time after the date on which State Street (or an Affiliate of State Street) becomes entitled to terminate the MSA (other
than pursuant to Section 16.3), except that if the termination event is under Sections 16.4.1, 16.4.2 or 16.4.3 thereof, the cure periods provided thereunder shall be extended for an additional ten (10) Business Days solely for the purpose
of determining when the Call Option may be exercised by SSIH under this Section (b); 

  

	(c)	upon the occurrence of a Material Event; 

  

	(d)	in the event that cumulative Losses (as defined in the MSA) suffered by State Street (and its Affiliates) under the MSA exceed twenty five million US dollars
(USD$25,000,000) at any time during the MSA Term following the MSA Effective Date; and/or 

  

	(e)	upon notice to Syntel DE in writing, at any time after the date on which Syntel or any of its Affiliates: 

 

	 	(i)	commits a material breach of any of its confidentiality obligations owed to State Street, SSIH or any of their Affiliates under this Agreement or the MSA; or

  

	 	(ii)	materially infringes the intellectual property rights of State Street, SSIH or their Affiliates under the MSA or either of the Trademark Licenses.

 14.3 ** 
 14.4
Subject to section 14.6, within sixty (60) days of the Call Notice being given (the “Call Option Period”), Syntel DE shall sell (or cause to be sold) and SSIH or any of its Affiliates shall purchase all of the Shares of
the Company beneficially owned by Syntel DE or its Affiliates or their designees or nominees at such time, free and clear of all Encumbrances, at the Call Option Price (together with any stamp duty payable under the then applicable laws and any
transfer fees payable under the constitutive documents for the Company which shall be paid by SSIH on or before completion of the transfer). 

14.5 In the event that SSIH exercises the Call Option, SSIH shall also have the right to purchase and Syntel DE shall be obligated to and shall at the
same time sell, at a price not exceeding ** (together with any stamp duty payable under the then applicable laws and any transfer fees payable under the articles of association of the Operating Subsidiary which shall be paid by SSIH on or before
completion of the transfer) (the “Operating Subsidiary Price”), all, but not less than all, of the nominee shares of the Operating Subsidiary held by Syntel DE or its Affiliates or their designees or nominees at that time, if
any, free and clear of all Encumbrances. 

  
 -23-

 14.6 In the event that SSIH exercises the Call Option, the Company shall also be obligated to and shall,
prior to the Call Option Closing Date, redeem any and all Preferred Shares which may be outstanding. 
 14.7 Payment of the Call Option Price
shall, if applicable, be subject to the hold back and claw back provisions described in more detail in Sections 14.10 and 14.11 below. The transaction of purchase and sale shall be completed prior to the expiry of the Call Option Period, subject to
the receipt of any applicable governmental, regulatory or corporate approvals and/or filings that may be required under applicable laws (the “Call Option Closing Date”). 

14.8 As soon as reasonably practicable after issuance of the Call Notice and in no event later than ten (10) Business Days thereafter, SSIH and
Syntel DE shall agree on ** for purposes of calculating the Call Option Price. ** 
 14.9 ** 

14.10 In the event of any dispute between the SSIH and Syntel DE regarding the amount of the Call Option Price, the relevant Amount in Dispute shall be
withheld by SSIH and Syntel DE and SSIH shall complete the purchase and sale of the Shares and nominee shares as contemplated and within the timeframe required by Section 14.4, notwithstanding such dispute, provided that SSIH pays the
undisputed portion of the Call Option Price and the Operating Subsidiary Price (if applicable) to Syntel DE. SSIH and Syntel DE shall seek to resolve any such dispute in accordance with Section 21.13 hereof. Within five (5) Business Days
following the resolution of any such dispute (whether by mutual agreement, binding arbitral decision or judicial order), SSIH shall pay to Syntel DE that portion of the Amount in Dispute which has been determined to be included in the Call Option
Price. 
 14.11 SSIH shall be entitled to clawback from the Call Option Price the amount equal to ** (the “Claw Back”).
** 
 14.12 ** 
 14.13 Notwithstanding
any term or provision of this Agreement which purports to restrict the transfer or assignment of rights and obligations hereunder, SSIH shall have the right to assign its rights and obligations under this Section 14 to an Affiliate without
notice to or the approval or consent of Syntel DE, the Company or the Board. 
  

	15.	DISSOLUTION AND LIQUIDATION 

 15.1 The
Company shall be liquidated in accordance with Section 15.2 at any time upon the unanimous consent of the Shareholders. 
 15.2 In the
event of any winding-up and liquidation of the Company during the Term pursuant to this Section 15, the Shareholders shall take all such action as may be necessary to terminate this Agreement and, subject to the provisions of this
Section 15, the Company shall be dissolved, wound up and liquidated in accordance with applicable law. In any dissolution, winding-up or liquidation of the Company, any tangible or intangible properties or assets of the Company

  
 -24-

 
which may be distributable under applicable law shall, upon such dissolution, winding-up and liquidation of the Company, be divided and distributed among the Shareholders in proportion to their
respective share ownership in the Company and in accordance with clause 7.13(c) at the time of such distribution; provided, however, that the rights to all Employees of the Company and the assets of the Company shall be distributed to the Class B
Shareholder. Upon any such dissolution, winding-up and liquidation, the Shareholders shall cause the Auditors engaged by the Company (whose determination shall be final, conclusive and binding on the Shareholders) to prepare and deliver to the
Shareholders a final accounting statement as soon as reasonably practicable after all of the activities of the Company have been concluded, all monies payable to the Company have been received and all expenses and obligations of the Company have
been paid, satisfied or otherwise provided for, and upon delivery of such accounting statement, this Agreement shall forthwith terminate and be of no further force and effect (except to the extent of any liability or obligation of a Shareholder
which accrued prior to any such termination or any provisions herein which are expressly provided to survive any termination hereof). Any costs, fees and other expenses of any kind (including reasonable attorneys’ fees) relating to the
dissolution and liquidation of the Company during the Term shall be borne by the Class B Shareholder. 
  

	16.	REPRESENTATIONS 

  

	16.1	Representations by Syntel DE 

 Syntel DE
represents to SSIH and to the Company as follows: 
  

	(a)	it is a limited liability company organized and validly existing under the laws of State of Delaware, USA; 

 

	(b)	the signature, execution and performance of this Agreement and all ancillary documents by it have been duly authorized and are within its corporate power, constitute
binding obligations in accordance with their terms and will not give rise to any breach of any instrument, agreement, law, order, judgment or decree by which it is bound; and 

 

	(c)	all consents, licenses or approvals required by law or regulation in order for it to enter into and perform its obligations pursuant to this Agreement have been
obtained without conditions or limitations which would limit its performance of this Agreement. 

  

	16.2	Representations by Syntel 

 Syntel
represents to SSIH and to the Company as follows: 
  

	(a)	it is a corporation organized and validly existing under the laws of State of Michigan, USA; 

 

	(b)	the signature, execution and performance of this Agreement and all ancillary documents by it have been duly authorized and are within its corporate power, constitute
binding obligations in accordance with their terms and will not give rise to any breach of any instrument, agreement, law, order, judgment or decree by which it is bound; and 

  
 -25-

	(c)	all consents, licenses or approvals required by law or regulation in order for it to enter into and perform its obligations pursuant to this Agreement have been
obtained without conditions or limitations which would limit its performance of this Agreement. 

  

	16.3	Representations by SSIH 

 SSIH represents
to Syntel, Syntel DE and to the Company as follows: 
  

	(a)	SSIH is a company organized and validly existing under the authority of the Commonwealth of Massachusetts and the Board of Governors of the Federal Reserve System of
the United States of America; 

  

	(b)	the signature, execution and performance of this Agreement and all ancillary documents by SSIH have been duly authorized and are within the corporate power of SSIH,
constitute binding obligations on SSIH in accordance with their terms and will not give rise to any breach of any instrument, agreement, law, order, judgment or decree by which SSIH is bound; and 

 

	(c)	all consents, licenses or approvals required by law or regulation in order for SSIH to enter into and perform its obligations pursuant to this Agreement have been
obtained without conditions or limitations which would limit SSIH’s performance of this Agreement. 

  

	17.	OPERATING SUBSIDIARY 

  

	17.1	Nominee Shareholders 

 In respect of any
shareholders of the Operating Subsidiary other than the Company (each an “Nominee Shareholder”, and collectively, the “Nominee Shareholders”), each of the Class A Shareholder and the Class B
Shareholder shall, and shall cause the Company to ensure that: 
  

	(a)	each Nominee Shareholder is and always shall be during the Term either the Class A Shareholder or an appointee of or a nominee approved by the Class A
Shareholder and Class B Shareholder; 

  

	(b)	each Nominee Shareholder undertakes in writing to the Shareholders, the Company and the Operating Subsidiary that: 

 

	 	(i)	it shall not assign, transfer, exchange, Encumber or otherwise dispose of any share held by such Nominee Shareholder in the Operating Subsidiary (or any interest in
therein) without the prior written consent of the Class A Shareholder; and 

  

	 	(ii)	it shall vote any shares held by it in the Operating Subsidiary as directed by the Company; 

and 

  
 -26-

	(c)	each Nominee Shareholder is and always shall be during the Term a corporation or other entity formed outside of India. 

Any purported action taken by a Nominee Shareholder in contravention of the terms of this Section 17.1 shall be deemed to be null and void and shall
not be recognized by the Shareholders, the Company or the Operating Subsidiary. 
  

	17.2	General Meetings 

 The Company shall as
soon as practicable after the Company receives notice of any general meeting of shareholders of the Operating Subsidiary, convene a Board meeting in accordance with the provisions of Section 7.5(a) and pass to the Shareholders copies of such
notice and any written materials relating to such general meeting. Subject to the provisions of Exhibit 4, the Board shall resolve how the shares in the Operating Subsidiary held directly or indirectly by the Company (and any Nominee
Shareholders) shall be voted at the relevant general meeting. 
  

	17.3	Representative for General Meetings of the Operating Subsidiary 

 At any general meeting of the shareholders of the Operating Subsidiary, the authorized representative of the Company (and any Nominee Shareholders) who shall be duly appointed by the Board to represent
the Company (and any Nominee Shareholders) at any such meeting shall always be an appointee of the Class A Shareholder. 
  

	17.4	Operating Subsidiary Board 

  

	(a)	The Operating Subsidiary Board shall initially consist of ** directors (or such number as said board may unanimously determine from time to time, provided, however that
the number of directors of the Operating Subsidiary Board shall in no event be less than ** nor more than ** 

  

	(b)	Subject to Section 11 and unless prohibited by law or the constitutive documents of the Operating Subsidiary, the Operating Subsidiary Board shall act by simple
majority vote 

  

	(c)	** 

  

	(d)	Each of the Class A Shareholder and the Class B Shareholder agree to cause the Company and the Company shall vote the shares of the Operating Subsidiary held by it
to elect and appoint as directors on the Operating Subsidiary Board, the nominees of the Class A Shareholder and the nominees of the Class B Shareholder in the proportion set forth in sub-Sections (a) and (c) of this
Section 17.4. 

  

	17.5	Chairman 

 ** 

 

	17.6	Conduct of Operating Subsidiary Board 

  
 -27-

 The provisions of Sections 7.2(b), 7.3 and 7.5 through 7.10 above shall apply to the conduct of the
affairs of the Operating Subsidiary Board as if the provisions set forth therein were set forth herein mutatis mutandi.  
  

	17.7	Transfer of any shares of the Operating Subsidiary 

 The Company shall not assign, transfer, exchange, Encumber or otherwise dispose of any share of the Operating Subsidiary held by it without the prior written consent of each of the Class A
Shareholder and the Class B Shareholder. A purported action taken by the Company in contravention of the terms of this Section 17.6 shall be deemed to be null and void and shall not be recognized by the Shareholders or the Board. 

 

	17.8	Operating Committee 

  

	(a)	Subject to all rights and powers which the Operating Subsidiary is required to retain under Indian law and to the terms of this Agreement and the MSA, the Shareholders
and the Company shall procure that the Operating Subsidiary Board shall establish an Operating Committee which shall: 

  

	 	(i)	have delegated to it responsibility for the day-to-day operations and service delivery of the Operating Subsidiary under the MSA; 

 

	 	(ii)	have delegated to it responsibility for determining what (if any) action that the Operating Subsidiary shall take in relation to the enforcement of its rights under the
MSA (including but not limited to any permitted legal remedies); and 

  

	 	(iii)	report monthly to the Operating Subsidiary Board on its activities. 

  

	(b)	** 

  

	(c)	The quorum for transacting business at any meeting of the Operating Committee (including an adjourned meeting) shall such number as the Operating Committee agrees at
its first meeting, present when the relevant business is transacted. Subject to Section 11 and unless prohibited by law or the constitutive documents for the Operating Subsidiary, the Operating Committee shall act by simple majority vote.

  

	18.	CONFIDENTIALITY 

 For all purposes
relating to this Agreement and the matters contemplated hereby, SSIH shall comply with the obligations of State Street and Syntel DE and Syntel shall comply with the obligations of Syntel, respectively, under Section 18 of the MSA, as if the
obligations set forth therein were set forth in this Agreement, mutatis mutandi. 
  

	19.	COSTS 

 Each Party shall bear the legal
costs and expenses incurred by it in connection with the preparation, negotiation and implementation of this Agreement. 

  
 -28-

	20.	DURATION; TERMINATION 

 20.1 This
Agreement shall continue in force and effect from the Effective Date until the earlier of: 
  

	(a)	the date that all of the Shares of the Company and all of the nominee shares of the Operating Subsidiary beneficially owned by a Shareholder (or its Affiliates or their
designees or nominees) are transferred to the other Shareholder (or its Affiliates or their designees or nominees) in accordance with the provisions of this Agreement; or 

 

	(b)	dissolution or liquidation of the Company in accordance with Section 15. 

 20.2 Subject to Section 12.2, the rights and obligations of each Shareholder shall continue and be enforceable by or against it only while it is a Shareholder of the Company save for: 

 

	(a)	rights and obligations in respect of Sections 7.14 (Insurance), 9 (Indemnification), 14 (Call Option), 18 (Confidentiality), 20 (Duration; Termination), 21.1 (Notices),
21.2 (No Third Party Beneficiaries), 21.4 (No Partnership or Agency), 21.6 (Further Assurance), 21.7 (Amendments and Waivers), 21.8 (Remedies Cumulative), 21.9 (Reproduction of Documents), 21.11 (Severability), 21.12 (Construction), 21.13 (Dispute
Resolution), 21.14 (Governing Law), 21.15 (Arbitration), 21.16 (Jurisdiction; Venue; Service of Process), 21.17 (Specific Performance), 21.18 (Entire Agreement) and 21.19 (Counterparts) which shall continue to have effect notwithstanding a Party
ceasing to be a Shareholder or termination of this Agreement; and 

  

	(b)	with respect to any liability which at the time a Party ceases to be a Shareholder or at the time of termination of this Agreement has already accrued or any liability
for Damages suffered or incurred by a Party after such time to the extent arising or resulting from or related or connected to any event, act and omission occurring prior to such time. 

20.3 Notwithstanding Section 20.2 above, the provisions herein regarding reproduction of documents, infringement, indemnification, liability and
limits thereon will survive the termination of this Agreement to the extent relating to any claim or right of action arising in connection with the performance of this Agreement and the Parties will enter into such documents as will be reasonably
necessary to ensure the survival of the same. 
  

	20.4	Termination of this Agreement shall not: 

  

	(a)	relieve any Party from any liability or obligation for any matter, undertaking or condition which has not been done, observed or performed by that Party before
termination; or 

  

	(b)	affect the terms of any agreement replacing this Agreement entered into by SSIH and Syntel DE, or any successor of either of them holding Shares.

 21. MISCELLANEOUS 
 21.1 Notices 

  
 -29-

 All notices, requests, demands and other communications under this Agreement (other than routine operational
communications), will be in writing and will be deemed duly given (i) when delivered by hand, (ii) on the next business day after being sent by overnight courier service for next business day delivery, (iii) on the third business day
after being sent by certified or registered mail, return receipt requested, in each case to the applicable Party at the address specified below (or such other address as a Party may specify by written notice in accordance with this Section 21.1
from time to time), (iv) when transmitted by facsimile (subject to acknowledgement or confirmation of receipt by the addressee) and (v) when transmitted via e-mail (subject to acknowledgement or confirmation of receipt by the addressee):

 If to SSIH: 
 ** 

with a copy to: 
 ** 

If to Syntel, Syntel DE or the Company: 
 **

  

	21.2	No Third Party Beneficiaries 

 No Customer
or other Third Party will constitute, or will be entitled to claim any rights as, a third party beneficiary of this Agreement or have any rights under any applicable law to enforce any of its terms. 

 

	21.3	Shareholders’ Procurement Obligation 

Each of the Shareholders agrees it shall exercise its rights hereunder and as a Shareholder in the Company in such manner as could reasonably be expected
to prevent, and shall not exercise those rights in any manner which could reasonably be expected to result in, a breach by the Company of any of its obligations under this Agreement or any restrictions imposed upon it under its Constitution (whether
or not enforceable against the Company itself). 
  

	21.4	No Partnership or Agency 

 Nothing in this
Agreement will be construed as creating a partnership between Syntel DE and SSIH or as constituting any Party the agent of another Party or such Party’s Affiliates for any purpose whatsoever and no Party will have the authority or power to bind
another Party such Party’s Affiliates or to contract in the name of or create a liability against another Party such Party’s Affiliates in any way or for any purpose. 

  
 -30-

	21.5	Publicity 

 Except in connection with the
release of the Press Release, none of Syntel DE, Syntel, the Company or their Affiliates shall use the name “State Street” or the name of any affiliated entity (in any form) in any marketing or advertising materials without SSIH’s
prior written approval, which approval may be withheld by SSIH for any reason, unless such use or disclosure is required by law or regulation (including but not limited to the regulations of the Indian Stock Exchange). To the extent that it is
lawfully entitled to do so, Syntel shall provide SSIH with prior written notice and a reasonable opportunity to review and comment on any use or disclosure of the name “State Street” or the name of any affiliated entity in any required
legal or regulatory filing other than any such required legal or regulatory filing which merely names State Street as a material client. SSIH or any of its Affiliates may disclose to customers or potential customers that they are contracting with
Syntel DE, Syntel, the Company or their Affiliates, but may not otherwise use the name of Syntel DE, Syntel, the Company or their Affiliates in any general marketing or advertising materials without Syntel DE’s prior written approval, which
approval may be withheld by Syntel DE for any reason, unless such use or disclosure is required by law or regulation. 
  

	21.6	Further Assurance 

 Each Party to this
Agreement will do and execute or procure to be done and executed all necessary acts, deeds, documents and things reasonably in its power to give effect to this Agreement. 

 

	21.7	Amendments and Waivers 

 The failure of a
Party to insist upon strict adherence to any term of this Agreement on any occasion or the failure of a Party to exercise or any delay in exercising any right or remedy under this Agreement (including, without limitation, any right implied by law)
will not constitute a waiver of any such term, right or remedy or a waiver of any other rights or remedies and no single or partial exercise of any right or remedy under this Agreement will prevent any further exercise of the right or remedy or the
exercise of any other right or remedy. No amendment or waiver of any provision of this Agreement will be valid and binding unless it is in writing and signed, in the case of an amendment, by all Parties, or in the case of a waiver, by the Party
against whom the waiver is to be effective. No waiver by any Party of any breach or violation or, default under this Agreement or inaccuracy in any representation, warranty or covenant hereunder, whether intentional or not, will be deemed to extend
to any prior or subsequent breach, violation, default of this Agreement, or inaccuracy in, any such representation, warranty or covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence. No delay
or omission on the part of any Party in exercising any right, power or remedy under this Agreement will operate as a waiver thereof. 
  

	21.8	Remedies are Cumulative 

 Except as
expressly provided in this Agreement, the rights and remedies contained in this Agreement are cumulative and not exclusive of any other rights or remedies provided hereunder, at law, in equity or otherwise. 

  
 -31-

	21.9	Reproduction of Documents 

 This Agreement
and all schedules, exhibits, attachments and amendments hereto may be reproduced by any photographic, photostatic, microfilm, micro-card, miniature photographic or other similar process. The Parties hereto each agree that any such reproduction will
be admissible in evidence as the original itself (subject to any challenge on the grounds that the reproduction has been altered so that it differs materially from the original document), in any judicial or administrative proceeding, whether or not
the original is in existence and whether or not such reproduction was made by a Party in the regular course of business, and that any enlargement, facsimile or further reproduction of such reproduction will likewise be admissible in evidence.

  

	21.10  	Assignability 

 Subject to the immediately
following sentence, this Agreement will be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns, each of which such successors and permitted assigns will be deemed to be a Party hereto for
all purposes hereof. Except as results from a transfer of Shares as permitted under this Agreement, no Party may assign, delegate or otherwise transfer either this Agreement or any of its rights, interests, or obligations hereunder without the prior
consent in writing of the other Parties, except that SSIH may assign and delegate this Agreement to an Affiliate or to a successor to all or substantially all of its business (whether by means of assets acquisition, merger, reorganization or similar
corporate transaction) without the consent of the other Party(ies). Any purported assignment, delegation or other transfer in contravention of this Section 21.10 will be null and void. 

 

	21.11  	Severability 

 Any term or provision of
this Agreement that is invalid or unenforceable in any situation in any jurisdiction will not affect the validity or enforceability of the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in
any other situation or in any other jurisdiction. In the event that any provision hereof would, under applicable law, be invalid or unenforceable in any respect, each Party hereto intends that such provision will be construed by modifying or
limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law. 
  

	21.12  	Construction 

 The Parties have
participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the Parties and no presumption or burden of
proof will arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement. The Parties intend that each representation, warranty and covenant contained herein will have independent significance. If any
Party has breached or violated, or if there is an inaccuracy in, any representation, warranty or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter
(regardless of the relative levels of specificity) which the Party has not breached or violated, or in respect of which there is not an inaccuracy, will not detract from or mitigate the fact that the Party has breached or violated, or there is an
inaccuracy in, the first representation, warranty or covenant. 

  
 -32-

	21.13	Dispute Resolution 

 All disputes,
controversies or claims arising in connection with this Agreement shall be handled in accordance with the Governance Process. 
  

	21.14	Governing Law 

 This Agreement, the rights
of the Parties and all claims arising under or in connection herewith, will be governed by and interpreted in accordance with the domestic substantive laws of the Commonwealth of Massachusetts and the United States of America, without regard to any
choice or conflict of law principles that would cause the application of the laws of any other jurisdiction. 
  

	21.15	Arbitration 

 All disputes, controversies
or claims arising in connection with this Agreement that are not resolved through the Governance Process (or any escalation procedure agreed pursuant thereto) shall be settled under the Commercial Arbitration Rules of the American Arbitration
Association (“AAA”) by an arbitration panel composed of three arbitrators appointed in accordance with said rules. Syntel DE and SSIH shall nominate one arbitrator and the two shall agree on a third arbitrator to chair the
panel. Failing the nomination of the three arbitrators within twenty (20) days, the three arbitrators shall be appointed by the AAA. The place of arbitration shall be Boston, Massachusetts. For purposes of entering judgment on the award, the
Parties will consent to the jurisdiction of the courts of Massachusetts or any court which has jurisdiction over the Parties or their assets. If any dispute arises under this Agreement, the Subscription Agreement, the MSA or the Escrow Agreement
such dispute shall be resolved in a consolidated proceeding by a single arbitration panel appointed as provided above. Nothing contained in this Section 21.15 shall prevent either Party from (i) seeking interim measures of protection in
the form of pre-award attachment of assets, (ii) from seeking injunctive relief from courts of competent jurisdiction or (iii) from commencing an action for arbitration regardless of the applicability of the Governance Process or other
dispute resolution process adopted; provided that reasonable prior notice of the action is given to the extent practicable. 

  
 -33-

	21.16	Jurisdiction; Venue; Service of Process 

  

	(a)	Jurisdiction 

 Each Party
by its execution hereof, (a) hereby irrevocably submits to the exclusive jurisdiction of the state courts of The Commonwealth of Massachusetts or the United States District Court located in The Commonwealth of Massachusetts for the purpose of
any permitted Action between the Parties arising in whole or in part under or in connection with this Agreement, (b) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, by way of motion, as a defense or
otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that any such Action brought in one of the above-named
courts should be dismissed on grounds of forum non conveniens, should be transferred or removed to any court other than one of the above-named courts, or should be stayed by reason of the pendency of some other proceeding in any other court other
than one of the above-named courts, or that this Agreement or the subject matter hereof may not be enforced in or by such court and (c) hereby agrees not to commence any such Action other than before one of the above-named courts.
Notwithstanding the previous sentence a Party may commence any Action in a court other than the above-named courts solely for the purpose of enforcing an order or judgment issued by one of the above-named courts. 

 

	(b)	Venue 

 Each Party agrees
that for any permitted Action between the Parties arising in whole or in part under or in connection with this Agreement, such Party may bring such Actions only in the City of Boston, Massachusetts. Each Party further waives any claim and will not
assert that venue should properly lie in any other location within the selected jurisdiction. 
  

	(c)	Service of Process 

 Each
Party hereby (a) consents to service of process in any permitted Action between the Parties arising in whole or in part under or in connection with this Agreement in any manner permitted by Massachusetts law, (b) agrees that service of
process made in accordance with clause (a) or made by registered or certified mail, return receipt requested, at its address specified pursuant to Section 21.1, will constitute good and valid service of process in any such Action and
(c) waives and agrees not to assert (by way of motion, as a defense, or otherwise) in any such Action any claim that service of process made in accordance with clause (a) or (b) does not constitute good and valid service of process.

  

	21.17	Specific Performance 

 Each party
acknowledges and agrees that each other party may be damaged irreparably in the event any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached or violated. Accordingly, each party
agrees that, without posting bond or other undertaking, each other party will be entitled to seek an injunction or 

  
 -34-

 
injunctions to prevent breaches or violations of the provisions of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in any action instituted in any
court of the United States or any state thereof having jurisdiction over any such party and the matter in addition to any other remedy to which it may be entitled, at law or in equity. Each party further agrees that, in the event of any action for
specific performance in respect of such breach or violation, it will not assert as a defense that a remedy at law would be adequate. 
  

	21.18	Entire Agreement 

  

	(a)	This Agreement, together with any documents, instruments and certificates explicitly referred to herein (including the MSA, the Share Subscription Agreement, the Deed
of Adherence and the Escrow Agreement), constitute the entire agreement among the Parties hereto with respect to the subject matter hereof and supersedes any and all prior discussions, negotiations, proposals, undertakings, understandings and
agreements, whether written or oral, with respect thereto. 

  

	(b)	Each Party acknowledges that: 

  

	 	(i)	in entering into this Agreement, it does not rely on, and shall have no remedy in respect of, any representation (whether negligent or otherwise), warranty or
undertaking made to it by any person (whether a Party to this Agreement or not) which is not expressly set out or referred to in this Agreement; and 

  

	 	(ii)	it has received independent legal advice relating to all the matters provided for in this Agreement, including the provisions of this Section 21.18, and agrees,
having considered the terms of this Section 21.18 and the Agreement as a whole, that the provisions of this Section are fair and reasonable. 

  

	(c)	The Parties intend that the provisions of this Agreement shall prevail over the Constitution in the event of conflict and, accordingly, the Shareholders shall, if
necessary, exercise all voting and other rights and powers available to them as Shareholders or under this Agreement, and shall cause their appointees on the Board, to procure any amendment to the Constitution and the constituting documents of the
Operating Subsidiary required to give effect to the provisions of this Agreement. 

  

	21.19	Counterparts 

 This Agreement may be
executed in any number of counterparts, any of which may be delivered by facsimile transmission, each of which will be deemed an original, but all of which together will constitute but one and the same instrument. This Agreement will become
effective when duly executed by each Party hereto. 
  

	21.20	Continuous Effect 

 This amendment and
restatement of the Amended Shareholders Agreement shall not be construed to terminate, modify or otherwise limit any accrued rights, obligations or entitlements of the Parties under the Amended Shareholders Agreement or any terms and conditions
thereof 

  
 -35-

 
unless expressly provided by the terms of this Agreement and except as so provided or to the extent this Agreement adds new rights, obligations or entitlements or new terms and conditions (which,
in each case, shall be effective in accordance with their terms), all rights, obligations or entitlements of the Parties under this Agreement and all terms and conditions hereof shall be deemed to have been in full force and effect on a continuous
basis since February 1, 2005. 
 [remainder of page intentionally left blank] 

  
 -36-

 IN WITNESS WHEREOF, the Parties hereto have executed this Agreement under seal effective as of the
date first written above. 
  

			
	STATE STREET INTERNATIONAL HOLDINGS
	
	By:
                                         
                               
	Name:
	Title:
	
	SYNTEL DELAWARE, LLC
	
	By:
                                         
                               
	Name:	 	
	Title:	 	
	
	SYNTEL, INC.
	
	By:
                                         
                               
	Name:	 	
	Title:	 	
	
	STATE STREET SYNTEL SERVICES (MAURITIUS) LIMITED
	
	By:
                                         
                               
	Name:	 	
	Title:	 	

  
 -37-

 Execution Version 

EXHIBIT 1 
 DEED OF ADHERENCE 
 This Deed of Adherence (this “Deed”) is dated [—], and made by and among: 

[—][insert name of transferee] (the
“New Shareholder”) a company incorporated in [—] with registered number [—] and
having its registered office at [—]; 
 STATE STREET INTERNATIONAL
HOLDINGS, a company organized under the authority of Chapter 167F, Section 2(6) of the Massachusetts General Laws and Section 25A of the Federal Reserve Act, as amended, and with its principal office at One Lincoln Street, Boston,
Massachusetts 02111, USA (“SSIH”); 
 SYNTEL DELAWARE, LLC, a company incorporated under the laws of the State of Delaware, and having its registered office at 1209 Orange Street, Wilmington, Delaware 19801, USA (“Syntel
DE”); 
 SYNTEL, INC., a Michigan corporation with its principal office located at 525 E. Big Beaver
Road, 3rd Floor, Troy, MI 48083, USA
(“Syntel”); and 
 STATE STREET SYNTEL SERVICES (MAURITIUS) LIMITED (formerly Syntel Solutions (Mauritius)
Limited), a company incorporated in Mauritius, and having its registered office at Rogers House, 5 President John Kennedy Street, P.O. Box 60, Port Louis, Republic of Mauritius (the “Company”). 

[—] [Any other person becoming bound by the Agreement]. 

WHEREAS this Deed is entered into in compliance with the terms of Section 12.2(c) of the Agreement; and 

WHEREAS by virtue of the transfer referred to in the Exhibit to this Deed the New Shareholder became entitled subject, inter alia, to the
execution of this Deed, to the Shares in the capital of the Company referred to in the Schedule. 
 NOW THIS DEED WITNESSETH as follows:

 1. In this Deed (including the recitals to this Deed): 
  

	(a)	the Agreement means the Amended and Restated Shareholders Agreement dated as of February 1, 2012 and made by and among SSIH, Syntel, Syntel DE and the Company
(“Shareholders Agreement”); and 

  

	(b)	terms and expression defined in the Agreement shall have the same meaning when used in this Deed unless the context requires or admits otherwise.

 2. The New Shareholder hereby covenants with and undertakes to each other party to this Deed and to the Company as trustee for
all other parties who hereafter become bound by the 

  
 -38-

 
Agreement pursuant to a deed in a similar form to this Deed and entered into pursuant to the Agreement, to adhere to and be bound by the provisions of the Agreement as if the New Shareholder had
been an original party to the Agreement. 
 3. The New Shareholder represents and warrants to the other parties to this Deed and to the Company
as trustee for all other parties who hereafter become bound by the Agreement pursuant to a deed in a similar form to this Deed and entered into pursuant to the Agreement the following: 

 

	(a)	the New Shareholder is duly incorporated as a company in [—]. 

 

	(b)	the signature, execution and performance of this Deed and all ancillary documents by the New Shareholder have been duly authorized and are within the corporate power of
the New Shareholder, constitute binding obligations on the New Shareholder in accordance with their terms and will not give rise to any breach of any instrument, agreement, law, order, judgment or decree by which the New Shareholder is bound; and

  

	(c)	all consents, licenses or approvals required by law or regulation in order for the New Shareholder to enter into and perform its obligations pursuant to this Deed have
been obtained without conditions or limitations which would limit the New Shareholder’s performance of this Deed. 

 4. The
address and facsimile number of the New Shareholder for the purposes of any notice (which shall be governed by the provisions of Section 21.14 of the Agreement) are as follows: 

 

							
		 	 [New Shareholder]
	 	
		 	  
	 	
		 	  
	 	
		 	  
	 	
		 	Fax No.:	 	  
	 	
		 	Attention:	 	  
	 	

 5. The New Shareholder hereby covenants that it shall do nothing that derogates from the provisions of the Agreement.

 6. This Deed may be entered into in any number of counterparts, all of which taken together shall constitute one and the same instrument.
Delivery of counterparts may be by facsimile or email transmission. Any party may enter into this Deed by signing any such counterpart but the Deed shall not be effective until each party has executed at least one counterpart. 

7. The provisions of this Deed shall not have any effect until this document has been dated. 

  
 -39-

 IN WITNESS WHEREOF, the parties hereto have executed this Deed under seal effective as of the date
first written above. 
 STATE STREET INTERNATIONAL HOLDINGS 

			
		
	By:	 	  

	Name:
	Title:
	
	SYNTEL DELAWARE, LLC
		
	By:	 	  

	Name:
	Title:
	
	SYNTEL, INC.
		
	By:	 	  

	Name:
	Title:

STATE STREET SYNTEL SERVICES (MAURITIUS) LIMITED 

			
		
	By:	 	  

	Name:
	Title:
	
	[NEW SHAREHOLDER]
		
	By:	 	  

	Name:
	Title:

  
 -40-

 Exhibit 

 

							
	Transferor	 	Transferee	 	Shares	 	Price
				
	[—]	 	[—]	 	[—]	 	[—]

  
 -41-

 Execution Version 

EXHIBIT 2 
 MINIMUM CAPITAL REQUIREMENT 
 Minimum Capital Requirement = ** 

The Minimum Capital Requirement will be calculated on a monthly basis and reported no less frequently than quarterly to the Board. On an annual and
quarterly basis, the Company will prepare and provide to the Board a Minimum Capital Requirement forecast for the upcoming year and quarter, as the case may be, and an analysis of the actual Minimum Capital Requirement for the preceding period
against the relevant forecast for such period. 

  
 -42-

 EXHIBIT 3 
 CORE PRINCIPLES 
 Subject to compliance in each case with the terms and conditions of this
Agreement and the MSA, the Shareholders have agreed that the business of the JV Group should be conducted in accordance with the Core Principles set out below. 
  

	1.	It is the intention of the Shareholders that the JV Group shall provide the Services to State Street and its Affiliates and conduct the business of the JV Group in
accordance with the terms and conditions of the Support Agreement, this Agreement and the MSA. 

  

	2.	No member of the JV Group shall take any action or omit to take any action which is intended or would have the effect of frustrating the intended operation of the Put
Option or the Call Option. 

  

	3.	The Operating Committee shall have the flexibility to manage the day-to-day conduct of the business of the Operating Subsidiary as it determines in its reasonable
discretion including but not limited to the items listed in paragraph 4. 

  

	4.	Subject to the requirements and restrictions of the MSA and this Agreement (including the Reserved Matters) and to any consent or approval rights of the Class A
Shareholder or its Affiliates thereunder, the Operating Committee shall have discretion to determine: 

  

	 	4.1	Which individuals to engage as employees of the JV Group and their terms and conditions of employment. 

 

	 	4.2	Which premises shall be used by the JV Group and the terms of conditions of any lease or license entered in to by any member of the JV Group in connection with such
premises. 

  

	 	4.3	Which shared services (including but not limited to HR, IT, Tax and Accounting services) the JV Group may procure from Syntel or any of its Affiliates from time to time
and the terms and conditions of such use. 

  

	 	4.4	Which delivery support services the JV Group may procure from Syntel, any of its Affiliates and/or subcontractors (as the case may be) from time to time and the terms
and conditions of such use. 

  

	 	4.5	The level of management support fees which may be payable from time to time by any member of the JV Group to Syntel and/or any of its Affiliates (provided that such
management support fees shall in any event cease on the Call Option Closing Date). 

  
 -43-

 EXHIBIT 4 
 RESERVED MATTERS 
  

	1.	RESERVED SHAREHOLDER MATTERS 

 Unless the Agreement or the law expressly provides otherwise, the following are Reserved Shareholder Matters in respect of the Company and the Operating Subsidiary (each a “company” as the case
applies below): 
  

	(a)	any amendment to the constitutive documents of the company; 

  

	(b)	any increase or decrease in the number of directors that shall constitute the board of the company; 

 

	(c)	any material change in the nature of the business of the company; 

  

	(d)	the sale of all or substantially all of the assets of the company or any reorganization, consolidation or merger (or similar transaction or series of transactions) of
the company with another entity; 

  

	(e)	any voluntary insolvency or bankruptcy filing or arrangement with creditors or any liquidation, dissolution or winding up of the company; 

 

	(f)	the authorization, creation or issuance of any stock of the company (other than the issuance of the originally authorized class of preferred shares in the Company to
the extent necessary to enable Syntel DE to comply with its obligation under Section 5 to maintain the Minimum Capital Requirement, which issuance shall require approval of a simple majority of the Board of the Company);

  

	(g)	the authorization, creation or issuance of any options, warrants or other derivative rights in relation to any stock of the company; 

 

	(h)	any consolidation, subdivision or other alteration of any rights relating or attaching to any stock of the company; 

 

	(i)	repurchase or redemption of any stock of the company; and 

  

	(j)	any amendment to this Agreement (including provisions thereof addressing the governance and administration of the company). 

 

	2.	RESERVED BOARD MATTERS 

 Unless the Agreement or the law expressly provides otherwise, the following are Reserved Board Matters in respect of the Company and the Operating Subsidiary (each a “company” as the case
applies below): 

  
 -44-

	(a)	any change, variation or update to the Operation Plan (including the Minimum Capital Requirement), subject to Syntel DE’s ability to consolidate the Operating
Subsidiary for financial reporting purposes; 

  

	(b)	the creation of any committee of any board or change in the powers or rights of any board committee; 

 

	(c)	the membership of any board committee or any change in the membership of any such committee; 

 

	(d)	any material change in the Accounting Policies of the company or in the manner that the company maintains its books and records of account; 

 

	(e)	any change in the name of the company or any assumed name of the company; 

  

	(f)	any lease (or sub-lease or license) or purchase of real property; 

  

	(g)	any capital expenditure in any calendar year, whether on an individual or aggregate basis, in excess of ** unless otherwise expressly authorised as part of the approved
Operation Plan; 

  

	(h)	any financial or contractual commitment that carries on-going payment or performance obligations for a period of 12 months or more unless otherwise expressly authorised
as part of the approved Operation Plan; 

  

	(i)	any financial or contractual commitment that carries payment obligations in excess of ** unless otherwise expressly authorised as part of the approved Operation Plan;

  

	(j)	any incurrence of indebtedness for borrowed money in excess of ** unless otherwise expressly authorised as part of the approved Operation Plan;

  

	(k)	any sale of assets in excess of ** in value (excluding any such sale requiring shareholder approval); 

 

	(l)	any acquisition of all or substantially all of the assets or stock of another entity; 

 

	(m)	the incorporation of a subsidiary; 

  

	(n)	the creation or establishment of any partnership, joint venture or other cooperative business arrangement with any other person (natural or legal);

  

	(o)	** 

  

	(p)	** 

  

	(q)	any Related-Party Transaction; 

  
 -45-

	(r)	any contract or arrangement between the company and any third party that includes a right of termination triggered by the termination of the joint-venture or a change
of control of the company; 

  

	(s)	any contract or arrangement between the company as the case may be, and any third party that includes a right for the third party to increase fees for the relevant
goods or services triggered by the termination of the joint-venture or a change of control of the company; 

  

	(t)	any acceleration of the vesting schedule or payment date of or any increase in employee compensation or employee benefits (including any retention or severance
payments) triggered by the termination of the joint-venture or a change of control of the company or the adoption of any employee benefits plan(s) that confer any such rights; 

 

	(u)	any employment contract which includes a termination right or an increase in employee compensation or employee benefits triggered by the termination of the
joint-venture or a change of control of the company; 

  

	(v)	any extension, restatement, amendment, modification, revision, variation or other change to or in any action, commitment, contract or other arrangement requiring board
approval as listed above; 

  

	(w)	any decision which, if taken, would override or materially conflict with any action or decision of the Operating Committee that was undertaken within its delegated
scope of authority or control; 

  

	(x)	permitting or granting any Encumbrance of any kind over the material assets of the company or over any shares in the company; and 

 

	(y)	the commencement or settlement of any material Action between the company and any Third Party and any material decision made in relation to the conduct thereof;
provided, however, that the Class A Shareholder shall be notified of all Actions even if not material. 

  
 -46-

 EXHIBIT 5 
 INVESTMENT PROCEDURES 
 I. Introduction 

In order to ensure that State Street and its Affiliates remain in compliance with certain U.S. Laws and Regulations, the Operating
Subsidiary and the Company shall comply with the following procedures in connection with any investment in equity (incl., e.g., mutual funds) and/or debt instruments (each, an “Investment”) or before making any loan (each, a
“Loan”). 1 Deposits of cash with
banks are outside the scope of these procedures. ** Notwithstanding the foregoing, State Street shall retain the right to request additional information about any Investment or proposed Investment, whether made before or after the Effective Date.

 II. Notice of Request to Make an Investment 
 At least 30 days prior to making any Investment (other than any Investment made by the Operating Subsidiary or the Company, as applicable, prior to the Effective Date), the Operating Subsidiary and/or the
Company, as applicable (the “Investor”), shall provide State Street its designee with the following information (as applicable): 
 ** 
 Right to Request Additional Information 

The Investor shall be required to promptly provide such additional information as State Street may request as part of its evaluation of the
permissibility of the Investment. 
 III. Notice of Request to Make a Loan 

At least 30 days prior to making any Loan (other than any Loan made by the Operating Subsidiary or the Company, as applicable, prior to the Effective
Date), the Investor shall provide State Street with the following information: 
 ** 
 Right to Request Additional Information 
 The Investor shall be required to promptly provide such
additional information as State Street may request as part of its evaluation of the permissibility of the Loan. 
  

	1 	 For the purposes of these procedures an Investment or Loan shall be deemed to have been made at the earlier of (i) the time the Investor enters
into a binding commitment to make the Investment or Loan or (ii) the Investor funds the Investment or Loan. 

  
 -47-

 IV. Prior Written Approval of State Street 

The Investor may not make the proposed Investment or Loan until it has received 

 

	**	prior written approval of State Street. 

 In the
event the Investor fails to produce any or all of the information listed above or any additional information requested by State Street, in each case with respect to any Investment or Loan, State Street reserves the right, in its sole discretion, to
withhold its approval of such Investment or Loan. 
 V. Periodic/Additional Reporting 

On a monthly basis, each Investor shall provide State Street ** with a report of all of its Investments and Loans, as applicable, 

** 
 The Investor shall be required to promptly
provide such additional reports as State Street may request as part of its evaluation and monitoring of (i) the permissibility of any Investment or Loan or (ii) the Investor’s compliance with these Procedures. 

VI. Board Reporting 

The applicable Investor shall provide confirmation to its Board of Directors on an annual basis that no Director or officer of the Investor holds a seat
on the governing board or management company of any vehicle (excluding the Operating Subsidiary), in which the Investor is invested. 
 At each
regularly scheduled quarterly meeting of its Board of Directors (or more frequently if requested by the Board), the applicable Investor will report on all Investments and Loans, the amount of such Investments and Loans and any changes to the
Director certifications referred to above since the prior Board meeting. 
 The Investor shall be required to promptly provide such additional
reports, certifications or documentation as the Board of Directors or State Street may request. 
 VII. Obligation to Divest

 Upon notice from State Street of its knowledge or reasonable belief that the Investor has violated these Procedures ** or that the
existence of a Investment or Loan would cause State Street to violate applicable U.S. Law or Regulation, the Investor shall immediately take such efforts as are requested by State Street to remedy any such violation, including but not limited to,
ceasing the investment activities contemplated herein or unwinding the relevant Investment or Loan. 
 ** 

  
 -48-Senior Indenture

 Exhibit 4.2 

INDENTURE 

Between 

SNYDER’S-LANCE, INC., 
 Issuer, 
 and 

[                    ],

 Trustee, 
 Dated as of [                            ],
2012 
  
  

Senior Debt Securities 

 Reconciliation and tie between 

Trust Indenture Act of 1939 (the “Trust Indenture Act”) 
 and Indenture 
  

							
	 Trust Indenture Act Section
	  	 Indenture Section

	 310
	 	(a)(1)	 		  	6.8
		 	(a)(2)	 		  	6.8
		 	(b)	 		  	6.9
	 312
	 	(a)	 		  	7.1
		 	(b)	 		  	7.2
		 	(c)	 		  	7.2
	 313
	 	(a)	 		  	7.3
		 	(b)(2)	 		  	7.3
		 	(c)	 		  	7.3
		 	(d)	 		  	7.3
	 314
	 	(a)	 		  	7.4
		 	(c)(1)	 		  	1.2
		 	(c)(2)	 		  	1.2
		 	(e)	 		  	1.2
		 	(f)	 		  	1.2
	 316
	 	(a) (last sentence)	 		  	1.1
		 	(a)(1)(A)	 		  	5.2, 5.12
		 	(a)(1)(B)	 		  	5.13
		 	(b)	 		  	5.8
	 317
	 	(a)(1)	 		  	5.3
		 	(a)(2)	 		  	5.4
		 	(b)	 		  	10.3
	 318
	 	(a)	 		  	1.8

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

  
 i 

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	  
	 Section 1.1
	  	Definitions	  	 	1	  
	 Section 1.2
	  	Compliance Certificates and Opinions	  	 	10	  
	 Section 1.3
	  	Form of Documents Delivered to Trustee.	  	 	10	  
	 Section 1.4
	  	Acts of Holders.	  	 	11	  
	 Section 1.5
	  	Notices, Etc., to Trustee and Company.	  	 	13	  
	 Section 1.6
	  	Notice to Holders of Securities; Waiver.	  	 	13	  
	 Section 1.7
	  	Language of Notices.	  	 	14	  
	 Section 1.8
	  	Conflict with Trust Indenture Act.	  	 	14	  
	 Section 1.9
	  	Effect of Headings and Table of Contents.	  	 	14	  
	 Section 1.10
	  	Successors and Assigns.	  	 	14	  
	 Section 1.11
	  	Separability Clause.	  	 	14	  
	 Section 1.12
	  	Benefits of Indenture.	  	 	15	  
	 Section 1.13
	  	Governing Law; Waiver of Trial by Jury; and Jurisdiction.	  	 	15	  
	 Section 1.14
	  	Legal Holidays.	  	 	15	  
	 Section 1.15
	  	Counterparts.	  	 	15	  
	 Section 1.16
	  	Judgment Currency.	  	 	16	  
	 Section 1.17
	  	No Security Interest Created.	  	 	16	  
	 Section 1.18
	  	Limitation on Individual Liability.	  	 	16	  
		
	 ARTICLE 2 SECURITIES FORMS
	  	 	17	  
	 Section 2.1
	  	Forms Generally	  	 	17	  
	 Section 2.2
	  	Form of Trustee’s Certificate of Authentication	  	 	17	  
	 Section 2.3
	  	Securities in Global Form	  	 	17	  
		
	 ARTICLE 3 THE SECURITIES
	  	 	18	  
	 Section 3.1
	  	Amount Unlimited; Issuable in Series	  	 	18	  
	 Section 3.2
	  	Currency; Denominations	  	 	22	  
	 Section 3.3
	  	Execution, Authentication, Delivery and Dating	  	 	22	  
	 Section 3.4
	  	Temporary Securities	  	 	24	  
	 Section 3.5
	  	Registration, Transfer and Exchange	  	 	25	  
	 Section 3.6
	  	Mutilated, Destroyed, Lost and Stolen Securities	  	 	28	  
	 Section 3.7
	  	Payment of Interest and Certain Additional Amounts; Rights to Interest and Certain Additional Amounts Preserved	  	 	29	  
	 Section 3.8
	  	Persons Deemed Owners	  	 	31	  
	 Section 3.9
	  	Cancellation	  	 	31	  
	 Section 3.10
	  	Computation of Interest	  	 	32	  
	 Section 3.11
	  	CUSIP Numbers	  	 	32	  
		
	 ARTICLE 4 SATISFACTION AND DISCHARGE OF INDENTURE
	  	 	32	  
	 Section 4.1
	  	Satisfaction and Discharge	  	 	32	  
	 Section 4.2
	  	Defeasance and Covenant Defeasance	  	 	34	  
	 Section 4.3
	  	Application of Trust Money	  	 	37	  

  
 ii 

							
	 ARTICLE 5 REMEDIES
	  	 	37	  
	 Section 5.1
	  	Events of Default	  	 	37	  
	 Section 5.2
	  	Acceleration of Maturity; Rescission and Annulment	  	 	39	  
	 Section 5.3
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	40	  
	 Section 5.4
	  	Trustee May File Proofs of Claim	  	 	41	  
	 Section 5.5
	  	Trustee May Enforce Claims Without Possession of Securities or Coupons	  	 	42	  
	 Section 5.6
	  	Application of Money Collected	  	 	42	  
	 Section 5.7
	  	Limitations on Suits	  	 	43	  
	 Section 5.8
	  	Unconditional Right of Holders to Receive Principal and Any Premium, Interest and Additional Amounts	  	 	44	  
	 Section 5.9
	  	Restoration of Rights and Remedies	  	 	44	  
	 Section 5.10
	  	Rights and Remedies Cumulative	  	 	44	  
	 Section 5.11
	  	Delay or Omission Not Waiver	  	 	44	  
	 Section 5.12
	  	Control by Holders of Securities	  	 	44	  
	 Section 5.13
	  	Waiver of Past Defaults	  	 	45	  
	 Section 5.14
	  	Waiver of Usury, Stay or Extension Laws	  	 	45	  
	 Section 5.15
	  	Undertaking for Costs	  	 	45	  
		
	 ARTICLE 6 THE TRUSTEE
	  	 	46	  
	 Section 6.1
	  	Certain Duties and Responsibilities of the Trustee.	  	 	46	  
	 Section 6.2
	  	Certain Rights of Trustee	  	 	47	  
	 Section 6.3
	  	Notice of Defaults	  	 	49	  
	 Section 6.4
	  	Not Responsible for Recitals or Issuance of Securities	  	 	49	  
	 Section 6.5
	  	May Hold Securities	  	 	49	  
	 Section 6.6
	  	Money Held in Trust	  	 	50	  
	 Section 6.7
	  	Compensation and Reimbursement	  	 	50	  
	 Section 6.8
	  	Corporate Trustee Required; Eligibility	  	 	51	  
	 Section 6.9
	  	Disqualification; Conflicting Interests	  	 	51	  
	 Section 6.10
	  	Resignation and Removal; Appointment of Successor	  	 	52	  
	 Section 6.11
	  	Acceptance of Appointment by Successor	  	 	53	  
	 Section 6.12
	  	Merger, Conversion, Consolidation or Succession to Business	  	 	54	  
	 Section 6.13
	  	Appointment of Authenticating Agent	  	 	55	  
	 Section 6.14
	  	Trustee’s Application for Instructions from the Company	  	 	56	  
		
	 ARTICLE 7 HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	 	57	  
	 Section 7.1
	  	Company to Furnish Trustee Names and Addresses of Holders	  	 	57	  
	 Section 7.2
	  	Preservation of Information; Communications to Holders	  	 	57	  
	 Section 7.3
	  	Reports by Trustee	  	 	57	  
	 Section 7.4
	  	Reports by Company	  	 	58	  
		
	 ARTICLE 8 CONSOLIDATION, MERGER AND SALES
	  	 	59	  
	 Section 8.1
	  	Company May Consolidate, Etc., Only on Certain Terms	  	 	59	  
	 Section 8.2
	  	Section 8.2. Successor Person Substituted for Company.	  	 	59	  
		
	 ARTICLE 9 SUPPLEMENTAL INDENTURES
	  	 	60	  
	 Section 9.1
	  	Supplemental Indentures Without Consent of Holders	  	 	60	  
	 Section 9.2
	  	Supplemental Indentures with Consent of Holders	  	 	61	  
	 Section 9.3
	  	Execution of Supplemental Indentures	  	 	62	  
	 Section 9.4
	  	Effect of Supplemental Indentures	  	 	62	  

  
 iii

  

							
	 Section 9.5
	  	Reference in Securities to Supplemental Indentures	  	 	62	  
	 Section 9.6
	  	Conformity with Trust Indenture Act	  	 	63	  
	 Section 9.7
	  	Notice of Supplemental Indenture.	  	 	63	  
		
	 ARTICLE 10 COVENANTS
	  	 	63	  
	 Section 10.1
	  	Payment of Principal, Any Premium, Interest and Additional Amounts	  	 	63	  
	 Section 10.2
	  	Maintenance of Office or Agency	  	 	63	  
	 Section 10.3
	  	Money for Securities Payments to Be Held in Trust	  	 	64	  
	 Section 10.4
	  	Additional Amounts	  	 	66	  
	 Section 10.5
	  	Maintenance of Properties.	  	 	67	  
	 Section 10.6
	  	[Intentionally Omitted].	  	 	67	  
	 Section 10.7
	  	Corporate Existence	  	 	67	  
	 Section 10.8
	  	Waiver of Certain Covenants	  	 	67	  
	 Section 10.9
	  	Company Statement as to Compliance; Notice of Certain Defaults	  	 	67	  
	 Section 10.10
	  	Calculation of Original Issue Discount	  	 	68	  
		
	 ARTICLE 11 REDEMPTION OF SECURITIES
	  	 	68	  
	 Section 11.1
	  	Applicability of Article	  	 	68	  
	 Section 11.2
	  	Election to Redeem; Notice to Trustee	  	 	68	  
	 Section 11.3
	  	Selection by Trustee of Securities to Be Redeemed	  	 	68	  
	 Section 11.4
	  	Notice of Redemption	  	 	69	  
	 Section 11.5
	  	Deposit of Redemption Price	  	 	71	  
	 Section 11.6
	  	Securities Payable on Redemption Date	  	 	71	  
	 Section 11.7
	  	Securities Redeemed in Part	  	 	72	  
		
	 ARTICLE 12 [INTENTIONALLY OMITTED]
	  	 	72	  
		
	 ARTICLE 13 REPAYMENT AT THE OPTION OF HOLDERS
	  	 	72	  
	 Section 13.1
	  	Applicability of Article	  	 	72	  
		
	 ARTICLE 14 [INTENTIONALLY OMITTED]
	  	 	73	  
		
	 ARTICLE 15 MEETINGS OF HOLDERS OF SECURITIES
	  	 	73	  
	 Section 15.1
	  	Purposes for Which Meetings May Be Called	  	 	73	  
	 Section 15.2
	  	Call, Notice and Place of Meetings	  	 	73	  
	 Section 15.3
	  	Persons Entitled to Vote at Meetings	  	 	73	  
	 Section 15.4
	  	Quorum; Action	  	 	74	  
	 Section 15.5
	  	Determination of Voting Rights; Conduct and Adjournment of Meetings	  	 	74	  
	 Section 15.6
	  	Counting Votes and Recording Action of Meetings	  	 	75	  
	 Section 15.7
	  	Action Without Meeting.	  	 	76	  

  
 iv 

 INDENTURE, dated as of
            , 2012 (the “Indenture”), between SNYDER’S-LANCE, INC., a corporation duly organized and existing under the laws of the State of North
Carolina (the “Company”), having its principal executive office located at 13024 Ballantyne Corporate Place, Suite 900, Charlotte, North Carolina 28277, and
            , a banking corporation duly organized and existing under the laws of the State of             (the
“Trustee”), having its Corporate Trust Office located at             . 
 RECITALS 
 The Company has duly authorized the execution and delivery of
this Indenture to provide for the issuance from time to time of its senior unsecured debentures, notes or other evidences of indebtedness (the “Securities”), unlimited as to principal amount, to bear such rates of interest, to
mature at such time or times, to be issued in one or more series and to have such other provisions as shall be fixed as hereinafter provided. 
 This Indenture is subject to the provisions of the Trust Indenture Act of 1939, as amended, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder, that are
required to be part of this Indenture and, to the extent applicable, shall be governed by such provisions. 
 NOW, THEREFORE,
THIS INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities by the Holders (as
herein defined) thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of any series thereof and any Coupons (as herein defined) as follows: 

ARTICLE 1 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 Section 1.1 Definitions. 
 Except as otherwise expressly provided in or
pursuant to this Indenture or unless the context otherwise requires, for all purposes of this Indenture: 
 (1)
the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 
 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; 

(3) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally
accepted accounting principles in the United States of America and, except as otherwise herein expressly provided, the terms “generally accepted accounting principles” or “GAAP” with respect to any computation required or
permitted hereunder shall mean such accounting principles as are generally accepted in the United States of America at the date or time of such computation; 

 (4) the words “herein,” “hereof,” “hereto” and
“hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; and 
 (5) references herein to Sections or Articles refer to Sections or Articles in this Indenture. 
 Certain terms used principally in certain Articles hereof are defined in those Articles. 
 “Act”, when used with respect to any Holders, has the meaning specified in Section 1.4. 
 “Additional Amount[s]” means any additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Company in respect of
certain taxes, assessments or other governmental charges imposed on Holders specified therein and which are owing to such Holders. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For
the purposes of this definition, “control”, when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by
contract or otherwise; and the terms “controlling” and “controlled” have the meanings correlative to the foregoing. 
 “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 6.13 to act on behalf of the Trustee to authenticate Securities of one or more series.

 “Authorized Newspaper” means a newspaper, in an official language of the place of publication or in the
English language, customarily published on each day that is a Business Day in the place of publication, whether or not published on days that are not Business Days in the place of publication, and of general circulation in each place in connection
with which the term is used or in the financial community of each such place. Where successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers in the same
city meeting the foregoing requirements and in each case on any day that is a Business Day in the place of publication. 

“Authorized Officer” means, when used with respect to the Company, the Chairman of the Board of Directors, the
President, any Vice President, the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Company. 

“Bearer Security” means any Security in the form established pursuant to Section 2.1 which is payable to bearer.

 “Board of Directors” means the board of directors of the Company or any committee of that board duly
authorized to act generally or in any particular respect for the Company hereunder. 

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

“Business Day”, with respect to any Place of Payment or other location, means, unless otherwise specified with respect
to any Securities pursuant to Section 3.1, any day other than a Saturday, Sunday or other day on which banking institutions in such Place of Payment or other location are authorized or obligated by law, regulation or executive order to close.

 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under
the Securities Exchange Act of 1934, as amended, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such
duties at such time. 
 “Common Stock” includes any capital stock of any class of the Company which has no
preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company and which is not subject to redemption by the Company. 

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

“Company Request” and “Company Order” mean, respectively, a written request or order, as the case may
be, signed in the name of the Company by the Chairman of the Board of Directors, a Vice Chairman, the Chief Executive Officer, the President or a Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary,
of the Company, and delivered to the Trustee. 
 “Consolidated Net Worth” means the excess over current
liabilities of all assets properly appearing on a consolidated balance sheet of the Company and its consolidated Subsidiaries after deducting the minority interests of others in Subsidiaries. 

“Corporate Trust Office” means the corporate trust office of the Trustee at which at any particular time its corporate
trust business shall be principally administered, or the principal corporate trust office of any successor Trustee. 

“Corporation” includes corporations and, except for purposes of Article Eight, associations, companies, business trusts
and limited liability companies. 
 “Coupon” means any interest coupon appertaining to a Bearer Security.

 “Currency”, with respect to any payment, deposit or other transfer in respect of the principal of or any
premium or interest on or any Additional Amounts with respect to any Security, and with respect to any other payment, deposit or transfer pursuant to or contemplated by the terms hereof or such Security, means Dollars. 

  
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 “CUSIP number” means the alphanumeric designation assigned to a Security by
Standard & Poor’s Corporation, CUSIP Service Bureau (or any Person to whom this function may be sold or otherwise transferred). 
 “Defaulted Interest” has the meaning specified in Section 3.7. 
 “Dollars” or “$” means a dollar or other equivalent unit of legal tender for payment of public or private debts in the United States of America. 

“Event of Default” has the meaning specified in Section 5.1. 

“Foreign Currency” means any currency, currency unit or composite currency issued by the government of one or more
countries other than the United States of America or by any recognized confederation or association of such governments. 

“Government Obligations” means securities which are (i) direct obligations of the United States of America or the
other government or governments in the confederation which issued the Foreign Currency in which the principal of or any premium or interest on such Security or any Additional Amounts in respect thereof shall be payable, in each case where the
payment or payments thereunder are supported by the full faith and credit of such government or governments or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America
or such other government or governments, in each case where the timely payment or payments thereunder are unconditionally guaranteed as a full faith and credit obligation by the United States of America or such other government or governments, and
which, in the case of (i) or (ii), are not callable or redeemable except at the option of the holders thereof, and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such Government
Obligation or a specific payment of interest on or principal of or other amount with respect to any such Government Obligation held by such custodian for the account of the holder of a depository receipt, provided that (except as required by law)
such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Obligation or the specific payment of interest on or
principal of or other amount with respect to the Government Obligation evidenced by such depository receipt. 

“Holder”, in the case of any Registered Security, means the Person in whose name such Security is registered in the
Security Register and, in the case of any Bearer Security, means the bearer thereof and, in the case of any Coupon, means the bearer thereof. 
 “Indebtedness” of any person means the principal of and premium, if any, and interest due on indebtedness of such Person, whether outstanding on the date of this Indenture or thereafter
created, incurred or assumed, which is (a) indebtedness for money borrowed, (b) any obligation of, or any obligation guaranteed by, such Person for the repayment of borrowed money, whether or not evidenced by bonds, debentures, notes or
other written instruments, (c) any obligation of, or any such obligation guaranteed by, such Person evidenced by bonds, debentures, notes or similar written instruments, including obligations assumed or incurred in connection with the
acquisition of property, assets or businesses (provided, however, that the deferred purchase price of any other business or property or assets shall not be considered 

  
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Indebtedness if the purchase price thereof is payable in full within 90 days from the date on which such indebtedness was created), (d) any obligations of such Person as lessee under leases
required to be capitalized on the balance sheet of the lessee under generally accepted accounting principles, (e) all obligations of such Person for the reimbursement on any letter of credit, banker’s acceptance, security purchase facility
or similar credit transaction, (f) all obligations of such Person in respect of interest rate swap, cap or other agreements, interest rate future or options contracts, currency swap arrangements, currency future or option contracts and other
similar agreements, (g) all obligations of the types referred to in clauses (a) through (f) above of other persons for the payment of which such Person is responsible or liable as obligor, guarantor or otherwise, (h) all
obligations of the types referred to in clauses (a) through (g) above of other persons secured by any lien on any property or asset of such Person (whether or not such obligation is assumed by such Person), and (i) any amendments,
renewals, extensions, modifications and refundings of any of the foregoing. 
 “Indenture” means this
instrument as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and, with respect to any Security, by the terms and provisions of such Security
and any Coupon appertaining thereto established pursuant to Section 3.1 (as such terms and provisions may be amended pursuant to the applicable provisions hereof). 
 “Indexed Security” means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal face amount thereof at
original issuance. 
 “Interest Payment Date”, with respect to any Security, means the Stated Maturity of an
installment of interest on such Security. 
 “Judgment Currency” has the meaning specified in
Section 1.16. 
 “Maturity”, with respect to any Security, means the date on which the principal of such
Security or an installment of principal becomes due and payable as provided in or pursuant to this Indenture, whether at the Stated Maturity or by declaration of acceleration, notice of redemption or repurchase, notice of option to elect repayment
or otherwise, and includes the Redemption Date. 
 “New York Banking Day” has the meaning specified in
Section 1.16. 
 “Office” or “Agency”, with respect to any Securities, means an office or
agency of the Company maintained or designated in a Place of Payment for such Securities pursuant to Section 10.2 or any other office or agency of the Company maintained or designated for such Securities pursuant to Section 10.2 or, to the
extent designated or required by Section 10.2 in lieu of such office or agency, the Corporate Trust Office of the Trustee. 

“Officer’s Certificate” means a certificate signed by the Chairman of the Board, a Vice Chairman, the President or
a Vice President of the Company that complies with the requirements of Section 314(e) of the Trust Indenture Act and is delivered to the Trustee. 

  
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 “Opinion of Counsel” means a written opinion of counsel, who may be an
employee of or counsel for the Company or other counsel who shall be reasonably acceptable to the Trustee that, if required by the Trust Indenture Act, complies with the requirements of Sections 314(c) and/or 314(e) of the Trust Indenture Act.

 “Original Issue Discount Security” means a Security issued pursuant to this Indenture which provides for
declaration of an amount less than the principal face amount thereof to be due and payable upon acceleration pursuant to Section 5.2. 
 “Outstanding”, when used with respect to any Securities, means, as of the date of determination, all such Securities theretofore authenticated and delivered under this Indenture, except:

 (a) any such Security theretofore cancelled by the Trustee or the Security Registrar or delivered to the
Trustee or the Security Registrar for cancellation; 
 (b) any such Security for whose payment at the Maturity
thereof money in the necessary amount has been theretofore deposited pursuant hereto (other than pursuant to Section 4.2) with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company
(if the Company shall act as its own Paying Agent) for the Holders of such Securities and any Coupons appertaining thereto, provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this
Indenture or provision therefor satisfactory to the Trustee has been made; 
 (c) any such Security with respect
to which the Company has effected defeasance pursuant to the terms hereof, except to the extent provided in Section 4.2; 
 (d) any such Security which has been paid pursuant to Section 3.6 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, unless
there shall have been presented to the Trustee proof satisfactory to it that such Security is held by a bona fide purchaser in whose hands such Security is a valid obligation of the Company; and 

(e) any such Security converted or exchanged as contemplated by this Indenture into Common Stock or other securities, if
the terms of such Security provide for such conversion or exchange pursuant to Section 3.1; 
 provided,
however, that in determining whether the Holders of the requisite principal amount of Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders
of Securities for quorum purposes, (i) the principal amount of an Original Issue Discount Security that may be counted in making such determination and that shall be deemed to be Outstanding for such purposes shall be equal to the amount of the
principal thereof that pursuant to the terms of such Original Issue Discount Security would be declared (or shall have been declared to be) due and payable upon a declaration of acceleration thereof pursuant to Section 5.2 at the time of such

  
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determination, and (ii) the principal amount of any Indexed Security that may be counted in making such determination and that shall be deemed Outstanding for such purposes shall be equal to
the principal face amount of such Indexed Security at original issuance, unless otherwise provided in or pursuant to this Indenture, and (iii) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the
Company or such other obligor, shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making any such determination or relying upon any such request, demand, authorization,
direction, notice, consent or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so owned which shall have been pledged in good faith may be regarded as Outstanding if
the pledgee establishes to the satisfaction of the Trustee (A) the pledgee’s right so to act with respect to such Securities and (B) that the pledgee is not the Company or any other obligor upon the Securities or any Coupons
appertaining thereto or an Affiliate of the Company or such other obligor. 
 “Paying Agent” means any Person
authorized by the Company to pay the principal of, or any premium or interest on, or any Additional Amounts with respect to, any Security or any Coupon on behalf of the Company. 

“Person” means any individual, Corporation, partnership, limited liability company, joint venture, joint-stock company,
trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “Place of
Payment”, with respect to any Security, means the place or places where the principal of, or any premium or interest on, or any Additional Amounts with respect to such Security are payable as provided in or pursuant to this Indenture or
such Security. 
 “Predecessor Security” of any particular Security means every previous Security evidencing
all or a portion of the same indebtedness as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.6 in exchange for or in lieu of a lost, destroyed,
mutilated or stolen Security or any Security to which a mutilated, destroyed, lost or stolen Coupon appertains shall be deemed to evidence the same indebtedness as the lost, destroyed, mutilated or stolen Security or the Security to which a
mutilated, destroyed, lost or stolen Coupon appertains. 
 “Principal Property” means all real property and
tangible personal property constituting a manufacturing plant located within the United States owned by the Company or a Restricted Subsidiary, exclusive of (i) motor vehicles, mobile materials-handling equipment and other rolling stock,
(ii) office furnishings and equipment, information and electronic data processing equipment, (iii) any property financed through obligations issued by a state or possession of the United States, or any political subdivision or
instrumentality of the foregoing, on which the interest is not, in the opinion of tax counsel of recognized standing or in accordance with a ruling issued by the Internal Revenue Service, includible in gross income of the holder by reason of
Section 103(a) of the Internal Revenue Code (or any successor to such provision) as in effect at the time of the issuance of such obligations, (iv) any real property held for development or sale, or (v) any property the gross book
value of which (including related land and improvements thereon and all machinery and equipment included therein without deduction of any depreciation reserves) is less than 10% of Consolidated Net Worth or which the Board of Directors of the
Company determines is not material to the operation of the business of the Company and its Subsidiaries taken as a whole. 

  
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 “Redemption Date”, with respect to any Security or portion thereof to be
redeemed, means the date fixed for such redemption by or pursuant to this Indenture or such Security. 
 “Redemption
Price”, with respect to any Security or portion thereof to be redeemed, means the price at which it is to be redeemed as determined by or pursuant to this Indenture or such Security. 

“Registered Security” means any Security established pursuant to Section 2.1 which is registered in a Security
Register. 
 “Regular Record Date” for the interest payable on any Registered Security on any Interest Payment
Date therefor means the date, if any, specified in or pursuant to this Indenture or such Security as the “Regular Record Date”. 
 “Required Currency” has the meaning specified in Section 1.16. 
 “Responsible Officer” means any vice president, any assistant vice president, the secretary, any assistant secretary, the treasurer, any assistant treasurer, or any trust officer or any
other officer of the Trustee who has direct responsibility for the administration of this Indenture and, for purposes of Section 6.1(3)(b) and the first proviso of Section 6.3, shall also include any officer of the Trustee to whom any
corporate trust matter is referred because of his or her knowledge of and familiarity with the particular subject. 

“Restricted Subsidiary” means a Subsidiary (i) substantially all the property of which is located, or substantially
all the business of which is carried on, within the United States, and (ii) which owns a Principal Property; provided, however, that the term shall not include any Subsidiary which is solely or primarily engaged in the business of providing or
obtaining financing for the sale or lease of products sold or leased by the Company or any Subsidiary or which is primarily engaged in the business of a finance company either on a secured or an unsecured basis. 

“Security” or “Securities” means any note or notes, bond or bonds, debenture or debentures, or any
other evidences of indebtedness, as the case may be, authenticated and delivered under this Indenture; provided, however, that if at any time there is more than one Person acting as Trustee under this Indenture, “Securities”, with
respect to any such Person, shall mean Securities authenticated and delivered under this Indenture, exclusive, however, of Securities of any series as to which such Person is not Trustee. 

“Security Register” and “Security Registrar” have the respective meanings specified in
Section 3.5. 
 “Special Record Date” for the payment of any Defaulted Interest on any Registered Security
means a date fixed by the Company pursuant to Section 3.7. 

  
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 “Stated Maturity”, with respect to any Security or any installment of
principal thereof or interest thereon or any Additional Amounts with respect thereto, means the date established by or pursuant to this Indenture or such Security as the fixed date on which the principal of such Security or such installment of
principal or interest is, or such Additional Amounts are, due and payable. 
 “Subsidiary” means any
corporation, association, partnership, limited liability company or other business entity of which at least a majority of all outstanding stock having ordinary voting power in the election of directors of such entity is at the time, directly or
indirectly, owned by the Company or by one or more Subsidiaries or by the Company and one or more Subsidiaries. 

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and any reference herein to the Trust Indenture
Act or a particular provision thereof shall mean such Act or provision, as the case may be, as amended or replaced from time to time. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such with respect to one or more series
of Securities pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean each Person who is then a Trustee hereunder; provided, however, that if at any time there is more than one such Person,
“Trustee” shall mean each such Person and as used with respect to the Securities of any series shall mean the Trustee with respect to the Securities of such series. 
 “United States”, except as otherwise provided in or pursuant to this Indenture or any Security, means the United States of America (including the states thereof and the District of
Columbia), its territories and possessions and other areas subject to its jurisdiction. 
 “United States
Alien”, except as otherwise provided in or pursuant to this Indenture or any Security, means any Person who, for United States Federal income tax purposes, is a foreign corporation, a non-resident alien individual, a non-resident alien
fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which is, for United States Federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien fiduciary of a
foreign estate or trust. 
 “U.S. Depository” or “Depository” means, with respect to any
Security issuable or issued in the form of one or more global Securities, the Person designated as U.S. Depository or Depository by the Company in or pursuant to this Indenture, which Person must be, to the extent required by applicable law or
regulation, a clearing agency registered under the Securities Exchange Act of 1934, as amended, and, if so provided with respect to any Security, any successor to such Person. If at any time there is more than one such Person, “U.S.
Depository” or “Depository” shall mean, with respect to any Securities, the qualifying entity which has been appointed with respect to such Securities. 
 “Vice President”, when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title
“Vice President”. 

  
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 Section 1.2 Compliance Certificates and Opinions. 

Except as otherwise expressly provided in this Indenture, upon any application or request by the Company to the Trustee to take any
action under any provision of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating or opining that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been
complied with and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such
documents or any of them is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include:

 (1) a statement that each individual signing such certificate or opinion has read such condition or covenant
and the definitions herein relating thereto; 
 (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 each such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such condition
or covenant has been complied with; and 
 (4) a statement as to whether, in the opinion of each such
individual, such condition or covenant has been complied with. 
 Section 1.3 Form of Documents Delivered to Trustee.

 In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it
is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters
and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon an Opinion of Counsel, provided that such officer, after reasonable inquiry, has no
reason to believe and does not believe that the Opinion of Counsel with respect to the matters upon which his certificate or opinion is based is erroneous. Any such Opinion of Counsel may be based, insofar as it relates to factual matters, upon a
certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, provided that such counsel, after reasonable inquiry, has
no reason to believe, and does not believe that the certificate or opinion or representations with respect to such matters are erroneous. 

  
 10 

 Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture or any Security, they may, but need not, be consolidated and form one instrument. 
 Section 1.4 Acts of Holders. 
 (1) Any request, demand,
authorization, direction, notice, consent, waiver or other action provided by or pursuant to this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such
Holders in person or by an agent duly appointed in writing. If, but only if, Securities of a series are issuable as Bearer Securities, any request, demand, authorization, direction, notice, consent, waiver or other action provided in or pursuant to
this Indenture to be given or taken by Holders of Securities of such series may, alternatively, be embodied in and evidenced by the record of Holders of Securities of such series voting in favor thereof, either in person or by proxies duly appointed
in writing, at any meeting of Holders of Securities of such series duly called and held in accordance with the provisions of Article Fifteen, or a combination of such instruments and any such record. Except as herein or therein otherwise expressly
provided, such action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments and any such record (and the
action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments or so voting at any such meeting. Proof of execution of any such instrument or of a
writing appointing any such agent, or of the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section 6.1) conclusive in favor of the Trustee and the Company and any agent of the Trustee
or the Company, if made in the manner provided in this Section. The record of any meeting of Holders of Securities shall be proved in the manner provided in Section 15.6. 
 Without limiting the generality of this Section 1.4, unless otherwise provided in or pursuant to this Indenture, a Holder, including a U.S. Depository that is a Holder of a global Security, may make,
give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other Act provided in or pursuant to this Indenture to be made, given or taken by Holders, and a U.S. Depository
that is a Holder of a global Security may provide its proxy or proxies to the beneficial owners of interests in any such global Security through such U.S. Depository’s standing instructions and customary practices. 

The Company shall fix a record date for the purpose of determining the Persons who are beneficial owners of interest in any permanent
global Security held by a U.S. Depository entitled under the procedures of such U.S. Depository to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other
Act provided in or pursuant to this Indenture to be made, given or taken by Holders. When such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give
or take such request, demand, authorization, direction, notice, consent, waiver or other Act, whether or not such Holders remain Holders after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other Act
shall be valid or effective if made, given or taken more than 90 days after such record date. 

  
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 (2) The fact and date of the execution by any Person of any such instrument
or writing referred to in this Section 1.4 may be proved in any reasonable manner; and the Trustee may in any instance require further proof with respect to any of the matters referred to in this Section. 

(3) The ownership, principal amount and serial numbers of Registered Securities held by any Person, and the date of the
commencement and the date of the termination of holding the same, shall be proved by the Security Register. 

(4) The ownership, principal amount and serial numbers of Bearer Securities held by any Person, and the date of the
commencement and the date of the termination of holding the same, may be proved by the production of such Bearer Securities or by a certificate executed, as depositary, by any trust company, bank, banker or other depositary reasonably acceptable to
the Company, wherever situated, if such certificate shall be deemed by the Company and the Trustee to be satisfactory, showing that at the date therein mentioned such Person had on deposit with such depositary, or exhibited to it, the Bearer
Securities therein described; or such facts may be proved by the certificate or affidavit of the Person holding such Bearer Securities, if such certificate or affidavit is deemed by the Trustee to be satisfactory. The Trustee and the Company may
assume that such ownership of any Bearer Security continues until (i) another certificate or affidavit bearing a later date issued in respect of the same Bearer Security is produced, or (ii) such Bearer Security is produced to the Trustee
by some other Person, or (iii) such Bearer Security is surrendered in exchange for a Registered Security, or (iv) such Bearer Security is no longer Outstanding. The ownership, principal amount and serial numbers of Bearer Securities held
by the Person so executing such instrument or writing and the date of the commencement and the date of the termination of holding the same may also be proved in any other manner which the Company and the Trustee deem sufficient. 

(5) If the Company shall solicit from the Holders of any Registered Securities any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may at its option (but is not obligated to), by Board Resolution, fix in advance a record date for the determination of Holders of Registered Securities entitled to give such request,
demand, authorization, direction, notice, consent, waiver or other Act. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the
Holders of Registered Securities of record at the close of business on such record date shall be deemed to be Holders for the purpose of determining whether Holders of the requisite proportion of Outstanding Securities have authorized or agreed or
consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of such record date; provided that no such authorization, agreement or consent by
the Holders of Registered Securities shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. 

  
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 (6) Any request, demand, authorization, direction, notice, consent, waiver
or other Act by the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done
or suffered to be done by the Trustee, any Security Registrar, any Paying Agent or the Company in reliance thereon, whether or not notation of such Act is made upon such Security. 

Section 1.5 Notices, Etc., to Trustee and Company. 
 Any request, demand, authorization, direction, notice, consent, waiver or other Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed
with, 
 (1) the Trustee by any Holder or the Company shall be sufficient for every purpose hereunder if made,
given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, or 
 (2) the Company
by the Trustee or any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to the attention of its Chief Financial
Officer, with a copy to the attention of its Corporate Counsel, at the address of its principal office specified in the first paragraph of this instrument or at any other address previously furnished in writing to the Trustee by the Company.

 Section 1.6 Notice to Holders of Securities; Waiver. 

Except as otherwise expressly provided in or pursuant to this Indenture, where this Indenture provides for notice to Holders of
Securities of any event, 
 (1) such notice shall be sufficiently given to Holders of Registered Securities if
in writing and mailed, first-class postage prepaid, to each Holder of a Registered Security affected by such event, at his address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date,
prescribed for the giving of such notice; and 
 (2) such notice shall be sufficiently given to Holders of
Bearer Securities, if any, if published in an Authorized Newspaper and, if such Securities are then listed on any stock exchange outside the United States, in an Authorized Newspaper in such city as the Company shall advise the Trustee that such
stock exchange so requires, on a Business Day at least twice, the first such publication to be not earlier than the earliest date and the second such publication not later than the latest date prescribed for the giving of such notice. 

In any case where notice to Holders of Registered Securities is given by mail, neither the failure to mail such notice, nor any defect in
any notice so mailed, to any particular Holder of a Registered Security shall affect the sufficiency of such notice with respect to other Holders of Registered Securities or the sufficiency of any notice to Holders of Bearer Securities given as
provided herein. Any notice which is mailed in the manner herein provided shall be conclusively 

  
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presumed to have been duly given or provided. In the case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by
mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 
 In case by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause it shall be impracticable to publish any notice to Holders of Bearer
Securities as provided above, then such notification to Holders of Bearer Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to such Holders for every purpose hereunder. Neither failure to give notice by
publication to Holders of Bearer Securities as provided above, nor any defect in any notice so published, shall affect the sufficiency of any notice mailed to Holders of Registered Securities as provided above. 

Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such
notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders of Securities shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any
action taken in reliance upon such waiver. 
 Section 1.7 Language of Notices. 

Any request, demand, authorization, direction, notice, consent, election or waiver required or permitted under this Indenture shall be in
the English language, except that, if the Company so elects, any published notice may be in an official language of the country of publication. 
 Section 1.8 Conflict with Trust Indenture Act. 
 If any provision hereof
limits, qualifies or conflicts with any duties under any required provision of the Trust Indenture Act imposed hereon by Section 318(c) thereof, such required provision shall control. 

Section 1.9 Effect of Headings and Table of Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

Section 1.10 Successors and Assigns. 
 All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
 Section 1.11 Separability Clause. 
 In case any provision in this
Indenture, any Security or any Coupon shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

  
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 Section 1.12 Benefits of Indenture. 

Nothing in this Indenture, any Security or any Coupon, express or implied, shall give to any Person, other than (i) the parties
hereto, (ii) any Security Registrar, (iii) any Paying Agent, (iv) any Authenticating Agent, (v) the successors to each of the parties named in (i), (ii), (iii) and (iv) of this paragraph and, (vi) the Holders of
Securities or Coupons, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 Section 1.13
Governing Law; Waiver of Trial by Jury; and Jurisdiction. 
 This Indenture, the Securities and the Coupons shall be
governed by and construed in accordance with the law of the State of New York (including without limitation Section 5-1401 of the New York General Obligations Law or any successor to such statute). The Trustee, the Company, and (by their
acceptance of the Securities) the Holders, agree to submit to the non-exclusive jurisdiction of any United States federal or state court located in the Borough of Manhattan, in The City of New York in any action or proceeding arising out of or
relating to this Indenture or the Securities. The Trustee and the Company hereby knowingly, voluntarily and intentionally waive any rights they may have to a trial by jury in respect of any litigation based hereon, or arising out of, under or in
connection with, this Indenture or any course of conduct, course of dealing, statements (whether oral or written) or actions of the Trustee or the Company relating thereto. The Company acknowledges and agrees that it has received full and sufficient
consideration for this provision and that this provision is a material inducement for the Trustee and the Holders entering into this Indenture. 
 Section 1.14 Legal Holidays. 
 Unless otherwise specified in or pursuant to
this Indenture or any Securities, in any case where any Interest Payment Date, Stated Maturity or Maturity of any Security, or the last date on which a Holder has the right to convert or exchange Securities of a series that are convertible or
exchangeable, shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture, any Security or any Coupon other than a provision in any Security or Coupon that specifically states that such provision
shall apply in lieu hereof) payment need not be made at such Place of Payment on such date, and such Securities need not be converted or exchanged on such date but such payment may be made, and such Securities may be converted or exchanged, on the
next succeeding day that is a Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or at the Stated Maturity or Maturity or on such last day for conversion or exchange, and no interest shall
accrue on the amount payable on such date or at such time for the period from and after such Interest Payment Date, Stated Maturity, Maturity or last day for conversion or exchange, as the case may be, to such next succeeding Business Day.

 Section 1.15 Counterparts. 
 This Indenture may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. 

  
 15 

 Section 1.16 Judgment Currency. 

The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of
obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of, or premium or interest, if any, on, or Additional Amounts with respect to, the Securities of any series (the “Required Currency”)
into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the
requisite amount of the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which a final unappealable judgment is given and (b) its obligations under this Indenture to make payments in the Required
Currency (i) shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment (whether or not entered in accordance with clause (a)), in any currency other than the Required Currency, except to the extent that such
tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for
the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable and (iii) shall not be affected by judgment being
obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York or a day on which banking institutions in
The City of New York are authorized or obligated by law, regulation or executive order to be closed. 
 Section 1.17 No
Security Interest Created. 
 Nothing in this Indenture or in any Securities, express or implied, shall be construed to
constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect in any jurisdiction where property of the Company or its Subsidiaries is or may be located. 

Section 1.18 Limitation on Individual Liability. 
 No recourse under or upon any obligation, covenant or agreement contained in this Indenture or in any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any
incorporator, shareholder, officer or director, as such, past, present or future, of the Company, either directly or through the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the
incorporators, shareholders, officers or directors, as such, of the Company, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture
or in any Security or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such
incorporator, shareholder, officer or director, as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any Security or implied
therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of such Security. 

  
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 ARTICLE 2 
 SECURITIES FORMS 
 Section 2.1 Forms Generally. 

Each Registered Security, Bearer Security, Coupon and temporary or permanent global Security issued pursuant to this Indenture shall be
in the form established by or pursuant to a Board Resolution and set forth in an Officer’s Certificate or in one or more indentures supplemental hereto, shall have such appropriate insertions, omissions, substitutions and other variations as
are required or permitted by or pursuant to this Indenture or any indenture supplemental hereto and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may, consistently herewith, be
determined by the officers executing such Security or Coupon as evidenced by their execution of such Security or Coupon. 

Unless otherwise provided in or pursuant to this Indenture, any Securities, or the Board Resolution or any indenture supplemental hereto
establishing such series of Securities, the Securities shall be issuable in registered form without Coupons and shall not be issuable upon the exercise of warrants. 
 Definitive Securities and definitive Coupons shall be printed, lithographed or engraved or produced by any combination of these methods on a steel engraved border or steel engraved borders or may be
produced in any other manner, all as determined by the officers of the Company executing such Securities or Coupons, as evidenced by their execution of such Securities or Coupons. 

Section 2.2 Form of Trustee’s Certificate of Authentication. 

Subject to Section 6.11, the Trustee’s certificate of authentication shall be in substantially the following form: 

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

 

			
	                           
             , as Trustee
		
	By	 	 
		 	Authorized Officer

 Section 2.3 Securities in Global Form. 

If Securities of a series shall be issuable in global form, any such Security may provide that it or any number of such Securities shall
represent the aggregate amount of all Outstanding 

  
 17 

 
Securities of such series (or such lesser amount as is permitted by the terms thereof) from time to time endorsed thereon and may also provide that the aggregate amount of Outstanding Securities
represented thereby may from time to time be increased or reduced to reflect exchanges. Any endorsement of any Security in global form to reflect the amount, or any increase or decrease in the amount, or changes in the rights of Holders, of
Outstanding Securities represented thereby shall be made in such manner and by such Person or Persons as shall be specified therein or in the Company Order to be delivered pursuant to Section 3.3 or 3.4 with respect thereto. Subject to the
provisions of Section 3.3 and, if applicable, Section 3.4, the Trustee shall deliver and redeliver, in each case at the Company’s expense, any Security in permanent global form in the manner and upon instructions given by the Person
or Persons specified therein or in the applicable Company Order. If a Company Order pursuant to Section 3.3 or 3.4 has been, or simultaneously is, delivered, any instructions by the Company with respect to a Security in global form shall be in
writing but need not be accompanied by or contained in an Officer’s Certificate and need not be accompanied by an Opinion of Counsel. 
 Notwithstanding the provisions of Section 3.7, unless otherwise specified in or pursuant to this Indenture, any Securities, or the Board Resolution or any indenture supplemental hereto establishing
such series of Securities, payment of principal of, any premium and interest on, and any Additional Amounts in respect of, any Security in temporary or permanent global form shall be made to the Person or Persons specified therein. 

Notwithstanding the provisions of Section 3.8 and except as provided in the preceding paragraph, the Company, the Trustee and any
agent of the Company or the Trustee shall treat as the Holder of such principal amount of Outstanding Securities represented by a global Security (i) in the case of a global Security in registered form, the Holder of such global Security in
registered form, or (ii) in the case of a global Security in bearer form, the Person or Persons specified pursuant to Section 3.1. 
 ARTICLE 3 
 THE SECURITIES 

Section 3.1 Amount Unlimited; Issuable in Series. 
 The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more series. 

With respect to any Securities to be authenticated and delivered hereunder, there shall be established in or pursuant to a Board
Resolution and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto, 
 (1) the title of such Securities and the series in which such Securities shall be included; 
 (2) any limit upon the aggregate principal amount of the Securities of such title or the Securities of such series which may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer 

  
 18 

 
of, or in exchange for, or in lieu of, other Securities of such series pursuant to Section 3.4, 3.5, 3.6, 9.5 or 11.7, upon repayment in part of any Registered Security of such series
pursuant to Article Thirteen, upon surrender in part of any Registered Security for conversion into Common Stock or exchange for other securities pursuant to its terms, or pursuant to or as contemplated by the terms of such Securities); 

(3) if such Securities are to be issuable as Registered Securities, as Bearer Securities or alternatively as Bearer
Securities and Registered Securities, and whether the Bearer Securities are to be issuable with Coupons, without Coupons or both, and any restrictions applicable to the offer, sale or delivery of the Bearer Securities and the terms, if any, upon
which Bearer Securities may be exchanged for Registered Securities and vice versa; 
 (4) if any of such
Securities are to be issuable in global form, when any of such Securities are to be issuable in global form and (i) whether such Securities are to be issued in temporary or permanent global form or both, (ii) whether beneficial owners of
interests in any such global Security may exchange such interests for Securities of the same series and of like tenor and of any authorized form and denomination, and the circumstances under which any such exchanges may occur, if other than in the
manner specified in Section 3.5, and (iii) the name of the Depository or the U.S. Depository, as the case may be, with respect to any such global Security; 

(5) if any of such Securities are to be issuable as Bearer Securities or in global form, the date as of which any such
Bearer Security or global Security shall be dated (if other than the date of original issuance of the first of such Securities to be issued); 
 (6) if any of such Securities are to be issuable as Bearer Securities, whether interest in respect of any portion of a temporary Bearer Security in global form payable in respect of an Interest Payment
Date therefor prior to the exchange, if any, of such temporary Bearer Security for definitive Securities shall be paid to any clearing organization with respect to the portion of such temporary Bearer Security held for its account and, in such
event, the terms and conditions (including any certification requirements) upon which any such interest payment received by a clearing organization will be credited to the Persons entitled to interest payable on such Interest Payment Date;

 (7) the date or dates, or the method or methods, if any, by which such date or dates shall be determined, on
which the principal of such Securities is payable; 
 (8) the rate or rates at which such Securities shall bear
interest, if any, or the method, or methods, if any, by which such rate or rates are to be determined, the date or dates, if any, from which such interest shall accrue or the method or methods, if any, by which such date or dates are to be
determined, the Interest Payment Dates, if any, on which such interest shall be payable and the Regular Record Date, if any, for the interest payable on Registered Securities on any Interest Payment Date, whether and under what circumstances
Additional Amounts on such Securities or any of them shall be payable, the notice, if any, to Holders regarding the determination of interest on a floating rate Security and the manner of giving such notice, and the basis upon which interest shall
be calculated if other than that of a 360-day year of twelve 30-day months; 

  
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 (9) the place, or places where the principal of, any premium and interest on
or any Additional Amounts with respect to such Securities shall be payable, any of such Securities that are Registered Securities may be surrendered for registration of transfer or exchange, any of such Securities may be surrendered for conversion
or exchange and notices or demands to or upon the Company in respect of such Securities and this Indenture may be served, the extent to which, or the manner in which, any interest payment or Additional Amounts on a global Security on an Interest
Payment Date, will be paid and the manner in which any principal of or premium, if any, on any global Security will be paid; 
 (10) whether any of such Securities are to be redeemable at the option of the Company and, if so, the date or dates on which, the period or periods within which, the price or prices at which and the other
terms and conditions upon which such Securities may be redeemed, in whole or in part, at the option of the Company; 
 (11) whether the Company is obligated to redeem or purchase any of such Securities or at the option of any Holder thereof and, if so, the date or dates on which, the period or periods within which, the
price or prices at which and the other terms and conditions upon which such Securities shall be redeemed or purchased, in whole or in part, pursuant to such obligation, and any provisions for the remarketing of such Securities so redeemed or
purchased; 
 (12) the denominations in which any of such Securities that are Registered Securities shall be
issuable if other than denominations of $1,000 and any integral multiples of $1,000; 
 (13) whether the
Securities of the series will be convertible into shares of Common Stock and/or exchangeable for other securities, and if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, and any deletions from or
modifications or additions to this Indenture to permit or to facilitate the issuance of such convertible or exchangeable Securities or the administration thereof; 

(14) if other than the principal amount thereof, the portion of the principal amount of any of such Securities that shall
be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.2 or the method by which such portion is to be determined; 
 (15) [Intentionally Omitted] 
 (16) [Intentionally Omitted]

 (17) whether the amount of payments of principal of, any premium or interest on or any Additional Amounts
with respect to such Securities may be determined with reference to an index, formula or other method or methods (which index, formula or method or methods may be based, without limitation, on one or more Currencies,

  
 20 

 
commodities, equity securities, equity indices or other indices), and, if so, the terms and conditions upon which and the manner in which such amounts shall be determined and paid or payable;

 (18) any deletions from, modifications of or additions to the Events of Default or covenants of the Company
with respect to any of such Securities, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth herein; 

(19) whether either or both of Section 4.2(2) relating to defeasance or Section 4.2(3) relating to covenant
defeasance shall not be applicable to the Securities of such series, or any covenants in addition to those specified in Section 4.2(3) relating to the Securities of such series which shall be subject to covenant of defeasance, and any deletions
from, or modifications or additions to, the provisions of Article Four in respect of the Securities of such series; 
 (20) whether any of such Securities are to be issuable upon the exercise of warrants, and the time, manner and place for such Securities to be authenticated and delivered; 

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

(22) if there is more than one Trustee, the identity of the Trustee and, if not the Trustee, the identity of each
Security Registrar, Paying Agent or Authenticating Agent with respect to such Securities; and 
 (23) any other
terms of such Securities and any other deletions from or modifications or additions to this Indenture in respect of such Securities. 
 All Securities of any one series and all Coupons, if any, appertaining to Bearer Securities of such series shall be substantially identical except as to Currency of payments due thereunder, denomination
and the rate of interest thereon, or method of determining the rate of interest, if any, Maturity, and the date from which interest, if any, shall accrue and except as may otherwise be provided by the Company in or pursuant to the Board Resolution
and set forth in the Officer’s Certificate or in any indenture or indentures supplemental hereto pertaining to such series of Securities. The terms of the Securities of any series may provide, without limitation, that the Securities shall be
authenticated and delivered by the Trustee on original issue from time to time upon written order of persons designated in the Officer’s Certificate or supplemental indenture and that such persons are authorized to determine, consistent with
such Officer’s Certificate or any applicable supplemental indenture, such terms and conditions of the Securities of such series as are specified in such Officer’s Certificate or supplemental indenture. All Securities of any one series need
not be issued at the same time and, unless otherwise so provided, a series may be reopened for issuances of additional Securities of such series or to establish additional terms of such series of Securities. 

  
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 If any of the terms of the Securities of any series shall be established by action taken by
or pursuant to a Board Resolution, the Board Resolution shall be delivered to the Trustee at or prior to the delivery of the Officer’s Certificate setting forth the terms of such series. 

Section 3.2 Currency; Denominations. 
 Unless otherwise provided in or pursuant to this Indenture, the principal of, any premium and interest on and any Additional Amounts with respect to the Securities shall be payable in Dollars. Unless
otherwise provided in or pursuant to this Indenture, Registered Securities denominated in Dollars shall be issuable in registered form without Coupons in denominations of $1,000 and any integral multiples of $1,000. Securities not denominated in
Dollars shall be issuable in such denominations as are established with respect to such Securities in or pursuant to this Indenture. 
 Section 3.3 Execution, Authentication, Delivery and Dating. 
 Securities
shall be executed on behalf of the Company by its Chairman of the Board, a Vice Chairman, its Chief Executive Officer, its President, its Chief Financial Officer, its Treasurer, or any Vice President elected by its Board of Directors. Coupons shall
be executed on behalf of the Company by the Treasurer or its Chief Financial Officer. The signature of any of these officers on the Securities or any Coupons appertaining thereto may be manual or facsimile. 

Securities and any Coupons appertaining thereto bearing the manual or facsimile signatures of individuals who were at any time the proper
officers of the Company shall bind the company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities and Coupons or did not hold such offices at the date of
original issuance of such Securities or Coupons. 
 At any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities, together with any Coupons appertaining thereto, executed by the Company, to the Trustee for authentication and, provided that the Board Resolution and Officer’s Certificate or supplemental
indenture or indentures with respect to such Securities referred to in Section 3.1 and a Company Order for the authentication and delivery of such Securities have been delivered to the Trustee, the Trustee in accordance with the Company Order
and subject to the provisions hereof and of such Securities shall authenticate and deliver such Securities. In authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities and any
Coupons appertaining thereto, the Trustee shall be entitled to receive, and (subject to Section 6.1) shall be fully protected in relying upon, 
 (1) an Opinion of Counsel to the effect that: 
 (a) the form or
forms and terms of such Securities and Coupons, if any, have been established in conformity with the provisions of this Indenture; 
 (b) all conditions precedent to the authentication and delivery of such Securities and Coupons, if any, appertaining thereto, have been complied with and that such Securities and Coupons, when completed
by appropriate insertions, and executed by a duly authorized officer of the Company, delivered by a duly 

  
 22 

 
authorized officer of the Company to the Trustee for authentication pursuant to this Indenture, and authenticated and delivered by the Trustee and issued by the Company in the manner and subject
to any conditions specified in such Opinion of Counsel, will constitute legally valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except as enforcement thereof may be subject to or limited
by bankruptcy, insolvency, reorganization, moratorium, arrangement, fraudulent conveyance, fraudulent transfer or other similar laws relating to or affecting creditors’ rights generally, and subject to general principles of equity (regardless
of whether enforcement is sought in a proceeding in equity or at law) and will entitle the Holders thereof to the benefits of this Indenture; such Opinion of Counsel need express no opinion as to the availability of equitable remedies; and

 (c) the execution, delivery and performance of such Securities and Coupons, if any, will not (assuming the
Company’s compliance with all applicable state securities or “Blue Sky” laws and except as would not result in a material adverse effect on the business affairs, financial condition, earnings or results of operations of the Company)
result in any violation of any applicable law, statute, rule, regulation, judgment, order, writ or decree, known to such Counsel, of any federal or state government, government instrumentality or court having jurisdiction over the Company or any of
its properties, assets or operations; and 
 to the extent that this Indenture is required to be qualified under the Trust
Indenture Act in connection with the issuance of such Securities, to the further effect that: 
 (d) this
Indenture has been qualified under the Trust Indenture Act; and 
 (2) an Officer’s Certificate stating
that all conditions precedent to the execution, authentication and delivery of such Securities and Coupons, if any, appertaining thereto, have been complied with and that, to the best knowledge of the Person executing such certificate, no event
which is, or after notice or lapse of time would become, an Event of Default with respect to any of the Securities shall have occurred and be continuing. 
 If all the Securities of any series are not to be issued at one time, it shall not be necessary to deliver an Opinion of Counsel and an Officer’s Certificate at the time of issuance of each Security,
but such opinion and certificate, with appropriate modifications, shall be delivered at or before the time of issuance of the first Security of such series. After any such first delivery, any separate written request by an Authorized Officer of the
Company that the Trustee authenticate and deliver Securities of such series for original issue will be deemed to be a certification by the Company that all conditions precedent provided for in this Indenture relating to authentication and delivery
of such Securities continue to have been complied with. 

  
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 The Trustee shall not be required to authenticate or to cause an Authenticating Agent to
authenticate any Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably
acceptable to the Trustee or if the Trustee, being advised by counsel, determines that such action may not lawfully be taken. 

Each Registered Security shall be dated the date of its authentication. Each Bearer Security and any Bearer Security in global form shall
be dated as of the date specified in or pursuant to this Indenture. 
 No Security or Coupon appertaining thereto shall be
entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Security a certificate of authentication substantially in the form provided for in Section 2.2 or 6.13 executed by or on behalf
of the Trustee or by the Authenticating Agent by the manual signature of one of its Authorized Officers. Such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and
delivered hereunder. Except as permitted by Section 3.6 or 3.7, the Trustee shall not authenticate and deliver any Bearer Security unless all Coupons appertaining thereto then matured have been detached and cancelled. 

Section 3.4 Temporary Securities. 
 Pending the preparation of definitive Securities, the Company may execute and deliver to the Trustee and, upon Company Order, the Trustee shall authenticate and deliver, in the manner provided in
Section 3.3, temporary Securities in lieu thereof which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they
are issued, in registered form or, if authorized in or pursuant to this Indenture, in bearer form with one or more Coupons or without Coupons and with such appropriate insertions, omissions, substitutions and other variations as the officers of the
Company executing such Securities may determine, as conclusively evidenced by their execution of such Securities. Such temporary Securities may be in global form. 
 Except in the case of temporary Securities in global form, which shall be exchanged in accordance with the provisions thereof, if temporary Securities are issued, the Company shall cause definitive
Securities to be prepared without unreasonable delay. After the preparation of definitive Securities of the same series and containing terms and provisions that are identical to those of any temporary Securities, such temporary Securities shall be
exchangeable for such definitive Securities upon surrender of such temporary Securities at an Office or Agency for such Securities, without charge to any Holder thereof. Upon surrender for cancellation of any one or more temporary Securities
(accompanied by any unmatured Coupons appertaining thereto), the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of authorized denominations of the same
series and containing identical terms and provisions; provided, however, that no definitive Bearer Security, except as provided in or pursuant to this Indenture, shall be delivered in exchange for a temporary Registered Security; and provided
further that a definitive Bearer Security shall be delivered in exchange for a temporary Bearer Security only in compliance with the conditions set forth in or pursuant to this Indenture. Unless otherwise provided in or pursuant to this Indenture
with respect to a temporary global Security, until so exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series. 

  
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 Section 3.5 Registration, Transfer and Exchange. 

With respect to the Registered Securities of each series, if any, the Company shall cause to be kept a register (each such register being
herein sometimes referred to as the “Security Register”) at an Office or Agency for such series in which, subject to such reasonable regulations as, it may prescribe, the Company shall provide for the registration of the Registered
Securities of such series and of transfers of the Registered Securities of such series. Such Office or Agency shall be the “Security Registrar” for that series of Securities. Unless otherwise specified in or pursuant to this Indenture or
the Securities, the Trustee shall be the initial Security Registrar for each series of Securities. The Company shall have the right to remove and replace from time to time the Security Registrar for any series of Securities; provided that no such
removal or replacement shall be effective until a successor Security Registrar with respect to such series of Securities shall have been appointed by the Company and shall have accepted such appointment by the Company. In the event that the Trustee
shall not be or shall cease to be Security Registrar with respect to a series of Securities, it shall have the right to examine the Security Register for such series at all reasonable times. There shall be only one Security Register for each series
of Securities. 
 Upon surrender for registration of transfer of any Registered Security of any series at any Office or Agency
for such series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Registered Securities of the same series denominated as authorized in or pursuant to
this Indenture, of a like aggregate principal amount bearing a number not contemporaneously outstanding and containing identical terms and provisions. 
 At the option of the Holder, Registered Securities of any series may be exchanged for other Registered Securities of the same series containing identical terms and provisions, in any authorized
denominations, and of a like aggregate principal amount, upon surrender of the Securities to be exchanged at any Office or Agency for such series. Whenever any Registered Securities are so surrendered for exchange, the Company shall execute, and the
Trustee shall authenticate and deliver, the Registered Securities which the Holder making the exchange is entitled to receive. 

If provided in or pursuant to this Indenture, with respect to Securities of any series, at the option of the Holder, Bearer Securities of
such series may be exchanged for Registered Securities of such series containing identical terms, denominated as authorized in or pursuant to this Indenture and in the same aggregate principal amount, upon surrender of the Bearer Securities to be
exchanged at any Office or Agency for such series, with all unmatured Coupons and all matured Coupons in default thereto appertaining. If the Holder of a Bearer Security is unable to produce any such unmatured Coupon or Coupons or matured Coupon or
Coupons in default, such exchange may be effected if the Bearer Securities are accompanied by payment in funds acceptable to the Company and the Trustee in an amount equal to the face amount of such missing Coupon or Coupons, or the surrender of
such missing Coupon or Coupons may be waived by the Company and the Trustee if there is furnished to them such security or indemnity 

  
 25 

 
as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Bearer Security shall surrender to any Paying Agent any such missing Coupon in respect of
which such a payment shall have been made, such Holder shall be entitled to receive the amount of such payment; provided, however, that, except as otherwise provided in Section 10.2, interest represented by Coupons shall be payable only upon
presentation and surrender of those Coupons at an Office or Agency for such series located outside the United States. Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at any such Office or Agency for such series
in exchange for a Registered Security of such series and like tenor after the close of business at such Office or Agency on (i) any Regular Record Date and before the opening of business at such Office or Agency on the next succeeding Interest
Payment Date, or (ii) any Special Record Date and before the opening of business at such Office or Agency on the related date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the Coupon relating to such
Interest Payment Date or proposed date of payment, as the case may be (or, if such Coupon is so surrendered with such Bearer Security, such Coupon shall be returned to the Person so surrendering the Bearer Security), and interest or Defaulted
Interest, as the case may be, shall not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of the Registered Security issued in exchange for such Bearer Security, but shall be payable only to the
Holder of such Coupon when due in accordance with the provisions of this Indenture. 
 If provided in or pursuant to this
Indenture with respect to Securities of any series, at the option of the Holder, Registered Securities of such series may be exchanged for Bearer Securities upon such terms and conditions as may be provided in or pursuant to this Indenture with
respect to such series. 
 Whenever any Securities are surrendered for exchange as contemplated by the immediately preceding two
paragraphs, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 
 Notwithstanding the foregoing, except as otherwise provided in or pursuant to this Indenture, any Securities, or the Board Resolution or any indenture supplemental hereto establishing such series of
Securities, any global Security shall be exchangeable for definitive Securities only if (i) the Depository is at any time unwilling, unable or ineligible to continue as depository and a successor depository is not appointed by the Company
within 90 days of the date the Company is so informed in writing, (ii) the Company executes and delivers to the Trustee a Company Order to the effect that such global Security shall be so exchangeable, or (iii) an Event of Default has
occurred and is continuing with respect to the Securities. If the beneficial owners of interests in a global Security are entitled to exchange such interests for definitive Securities as the result of an event described in clause (i), (ii) or
(iii) of the preceding sentence, then without unnecessary delay but in any event not later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee definitive Securities in such form and
denominations as are required by or pursuant to this Indenture, and of the same series, containing identical terms and in aggregate principal amount equal to the principal amount of such global Security, executed by the Company. On or after the
earliest date on which such interests may be so exchanged, such global Security shall be surrendered from time to time by the U.S. Depository or such other Depository as shall be specified in the Company

  
 26 

 
Order with respect thereto, and in accordance with instructions given to the Trustee and the U.S. Depository or such other Depository, as the case may be (which instructions shall be in writing
but need not be contained in or accompanied by an Officer’s Certificate or be accompanied by an Opinion of Counsel), as shall be specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such purpose,
to be exchanged, in whole or in part, for definitive Securities as described above without charge. The Trustee shall authenticate and make available for delivery, in exchange for each portion of such surrendered global Security, a like aggregate
principal amount of definitive Securities of the same series of authorized denominations and of like tenor as the portion of such global Security to be exchanged, which (unless such Securities are not issuable both as Bearer Securities and as
Registered Securities, in which case the definitive Securities exchanged for the global Security shall be issuable only in the form in which the Securities are issuable, as provided in or pursuant to this Indenture) shall be in the form of Bearer
Securities or Registered Securities, or any combination thereof, as shall be specified by the beneficial owner thereof, but subject to the satisfaction of any certification or other requirements to the issuance of Bearer Securities; provided,
however, that no such exchanges may occur during a period beginning at the opening of business 15 days before any selection of Securities of the same series to be redeemed and ending on the relevant Redemption Date; and provided further that (unless
otherwise provided in or pursuant to this Indenture) no Bearer Security delivered in exchange for a portion of a global Security shall be mailed or otherwise delivered to any location in the United States. Promptly following any such exchange in
part, such global Security shall be returned by the Trustee to such Depository or the U.S. Depository, as the case may be, or such other Depository or U.S. Depository referred to above in accordance with the instructions of the Company referred to
above. If a Registered Security is issued in exchange for any portion of a global Security after the close of business at the Office or Agency for such Security where such exchange occurs on or after (i) any Regular Record Date for such
Security and before the opening of business at such Office or Agency on the next succeeding Interest Payment Date, or (ii) any Special Record Date for such Security and before the opening of business at such Office or Agency on the related
proposed date for payment of interest or Defaulted Interest, as the case may be, interest shall not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of such Registered Security, but shall be
payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom interest in respect of such portion of such global Security shall be payable in accordance with the provisions of this Indenture.

 All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the
Company evidencing the same debt and entitling the Holders thereof to the same benefits under this Indenture as the Securities surrendered upon such registration of transfer or exchange. 

Every Registered Security presented or surrendered for registration of transfer or for exchange or redemption shall (if so required by
the Company or the Security Registrar for such Security) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar for such Security duly executed by the Holder thereof or
his attorney duly authorized in writing. 
 No service charge shall be made for any registration of transfer or exchange, or
redemption of Securities, but the Company may require payment of a sum sufficient to cover any 

  
 27 

 
tax or other governmental charge and any other expenses (including fees and expenses of the Trustee) that may be imposed in connection with any registration of transfer or exchange of Securities,
other than exchanges pursuant to Section 3.4, 9.5 or 11.7 not involving any transfer. 
 Except as otherwise provided in or
pursuant to this Indenture, the Company shall not be required (i) to issue, register the transfer of or exchange any Securities during a period beginning at the opening of business 15 days before the day of the selection for redemption of
Securities of like tenor and the same series under Section 11.3 and ending at the close of business on the day of such selection, or (ii) to register the transfer of or exchange any Registered Security so selected for redemption in whole
or in part, except in the case of any Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to exchange any Bearer Security so selected for redemption except, to the extent provided with respect to such Bearer
Security, that, such Bearer Security may be exchanged for a Registered Security of like tenor and the same series, provided that such Registered Security shall be immediately surrendered for redemption with written instruction for payment consistent
with the provisions of this Indenture or (iv) to issue, register the transfer of or exchange any Security which, in accordance with its terms, has been surrendered for repayment at the option of the Holder, except the portion, if any, of such
Security not to be so repaid. 
 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 Security other than to require delivery of such certificates and other documentation or evidence as are
expressly required by, and to do so only if and when expressly required by the terms of, this Indenture. 
 Section 3.6
Mutilated, Destroyed, Lost and Stolen Securities. 
 If any mutilated Security or a Security with a mutilated Coupon
appertaining to it is surrendered to the Trustee, subject to the provisions of this Section 3.6, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series containing
identical terms and of like principal amount and bearing a number not contemporaneously outstanding, with Coupons appertaining thereto corresponding to the Coupons, if any, appertaining to the surrendered Security. 

If there be delivered to the Company and to the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any
Security or Coupon and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security or Coupon has been
acquired by a protected purchaser, the Company shall execute and, upon the Company’s request the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Security or in exchange for the
Security to which a destroyed, lost or stolen Coupon appertains with all appurtenant Coupons not destroyed, lost or stolen, a new Security of the same series containing identical terms and of like principal amount and bearing a number not
contemporaneously outstanding, with Coupons appertaining thereto corresponding to the Coupons, if any, appertaining to such destroyed, lost or stolen Security or to the Security to which such destroyed, lost or stolen Coupon appertains. 

  
 28 

 Notwithstanding the foregoing provisions of this Section 3.6, in case any mutilated,
destroyed, lost or stolen Security or Coupon has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security or Coupon; provided, however, that payment of principal of, any
premium or interest on or any Additional Amounts with respect to any Bearer Securities shall, except as otherwise provided in Section 10.2, be payable only at an Office or Agency for such Securities located outside the United States and, unless
otherwise provided in or pursuant to this Indenture, any interest on Bearer Securities and any Additional Amounts with respect to such interest shall be payable only upon presentation and surrender of the Coupons appertaining thereto. 

Upon the issuance of any new Security under this Section 3.6, the Company may require the payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every new Security, with any Coupons appertaining thereto issued pursuant to this Section 3.6 in lieu of any destroyed, lost or stolen Security, or in exchange for a Security to which a destroyed,
lost or stolen Coupon appertains shall constitute a separate obligation of the Company, whether or not the destroyed, lost or stolen Security and Coupons appertaining thereto or the destroyed, lost or stolen Coupon shall be at any time enforceable
by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of such series and any Coupons, if any, duly issued hereunder. 

The provisions of this Section 3.6, as amended or supplemented pursuant to this Indenture with respect to particular Securities or
generally, shall be exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or Coupons. 

Section 3.7 Payment of Interest and Certain Additional Amounts; Rights to Interest and Certain Additional Amounts Preserved.

 Unless otherwise provided in or pursuant to this Indenture, any interest on and any Additional Amounts with respect to
any Registered Security which shall be payable, and are punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered as of the close
of business on the Regular Record Date for such interest. 
 Unless otherwise provided in or pursuant to this Indenture, any
interest on and any Additional Amounts with respect to any Registered Security which shall be payable, but shall not be punctually paid or duly provided for, on any Interest Payment Date for such Registered Security (herein called “Defaulted
Interest”) shall forthwith cease to be payable to the Holder thereof on the relevant Regular Record Date by virtue of having been such Holder; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided
in clause (1) or (2) below: 
 (1) The Company may elect to make payment of any Defaulted Interest to
the Person in whose name such Registered Security (or a Predecessor Security thereof) shall 

  
 29 

 
be registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed by the Company in the following manner. The Company shall notify
the Trustee in writing of the amount of Defaulted Interest proposed to be paid on such Registered Security, the Special Record Date therefor and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an
amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when so
deposited to be held in trust for the benefit of the Person entitled to such Defaulted Interest as in this clause provided. The Special Record Date for the payment of such Defaulted Interest shall be not more than 15 days and not less than 10 days
prior to the date of the proposed payment and not less than 10 days after notification to the Trustee of the proposed payment. The Trustee shall, in the name and at the expense of the Company, cause notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holder of such Registered Security (or a Predecessor Security thereof) at his address as it appears in the Security Register not less than 10 days prior
to such Special Record Date. The Trustee may, if so directed by the Company, in the name and at the expense of the Company cause a similar notice to be published at least once in an Authorized Newspaper of general circulation, but such publication
shall not be a condition precedent to the establishment of such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be
paid to the Person in whose name such Registered Security (or a Predecessor Security thereof) shall be registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). 

(2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the
requirements of any securities exchange on which such Security may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such
payment shall be deemed practicable by the Trustee. 
 Unless otherwise provided in or pursuant to this Indenture or the
Securities of any particular series pursuant to the provisions of this Indenture, at the option of the Company, interest on Registered Securities that bear interest may be paid by mailing a check to the address of the Person entitled thereto as such
address shall appear in the Security Register or by transfer to an account maintained by the payee with a bank located in the United States. 
 Subject to the foregoing provisions of this Section and Section 3.5, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 
 In the case
of any Registered Security of any series that is convertible into shares of Common Stock or exchangeable for other securities, which Registered Security is converted or exchanged after any Regular Record Date and on or prior to the next succeeding
Interest Payment Date (other than any Registered Security with respect to which the Stated Maturity is 

  
 30 

 
prior to such Interest Payment Date), interest with respect to which the Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such
conversion or exchange, and such interest (whether or not punctually paid or duly provided for) shall be paid to the Person in whose name that Registered Security (or one or more predecessor Registered Securities) is registered at the close of
business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Registered Security which is converted or exchanged, interest with respect to which the Stated Maturity is after
the date of conversion or exchange of such Registered Security shall not be payable. 
 Section 3.8 Persons Deemed Owners.

 Prior to due presentment of a Registered Security for registration of transfer, the Company, the Trustee and any agent of
the Company or the Trustee may treat the Person in whose name such Registered Security is registered in the Security Register as the owner of such Registered Security for the purpose of receiving payment of principal of, any premium and (subject to
Sections 3.5 and 3.7) interest on and any Additional Amounts with respect to such Registered Security and for all other purposes whatsoever, whether or not any payment with respect to such Registered Security shall be overdue, and none of the
Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 The Company, the
Trustee and any agent of the Company or the Trustee may treat the bearer of any Bearer Security or the bearer of any Coupon as the absolute owner of such Security or Coupon for the purpose of receiving payment thereof or on account thereof and for
all other purposes whatsoever, whether or not any payment with respect to such Security or Coupon shall be overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary.

 No Holder of any beneficial interest in any global Security held on its behalf by a Depository shall have any rights under
this Indenture with respect to such global Security, and such Depository may be treated by the Company, the Trustee, and any agent of the Company or the Trustee as the owner of such global Security for all purposes whatsoever. None of the Company,
the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests. 
 Section 3.9 Cancellation.

 All Securities and Coupons surrendered for payment, redemption, registration of transfer, exchange or conversion shall,
if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and Coupons, as well as Securities and Coupons surrendered directly to the Trustee for any such purpose, shall be cancelled promptly by the
Trustee. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be
cancelled promptly by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as 

  
 31 

 
provided in this Section, except as expressly permitted by or pursuant to this Indenture. All cancelled Securities and Coupons held by the Trustee shall be disposed of by the Trustee in
accordance with its then practices, unless by a Company Order the Company directs their return to it. 
 Section 3.10
Computation of Interest. 
 Except as otherwise provided in or pursuant to this Indenture, any Security, or the Board
Resolution or any indenture supplemental hereto establishing such series of Securities, interest on the Securities shall be computed on the basis of a 360-day year of twelve 30-day months. 

Section 3.11 CUSIP Numbers. 
 The Company in issuing the Securities may use CUSIP numbers and/or other similar numbers (if then generally in use), and, if so, the Trustee shall use CUSIP numbers and/or other similar numbers in notices
of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that
reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the
CUSIP numbers and/or other similar numbers. 
 ARTICLE 4 

SATISFACTION AND DISCHARGE OF INDENTURE 
 Section 4.1 Satisfaction and Discharge. 
 Upon the direction of the Company
by a Company Order, this Indenture shall cease to be of further effect with respect to any series of Securities specified in such Company Order and any Coupons appertaining thereto, and the Trustee, on receipt of a Company Order, at the expense of
the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture as to such series, when 
 (1) either 
 (a) all Securities of such series theretofore
authenticated and delivered and all Coupons appertaining thereto (other than (i) Coupons appertaining to Bearer Securities of such series surrendered in exchange for Registered Securities of such series and maturing after such exchange whose
surrender is not required or has been waived as provided in Section 3.5, (ii) Securities and Coupons of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.6,
(iii) Coupons appertaining to Securities of such series called for redemption and maturing after the relevant Redemption Date whose surrender has been waived as provided in Section 11.7, and (iv) Securities and Coupons of such series
for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.3) have been delivered to the Trustee
for cancellation; or 

  
 32 

 (b) all Securities of such series and, in the case of (i) or
(ii) below, any Coupons appertaining thereto not theretofore delivered to the Trustee for cancellation 

(i) have become due and payable, or 

(ii) will become due and payable at their Stated Maturity within one year, or 

(iii) if redeemable at the option of the Company, are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose, money in the Currency in which such
Securities are payable in an amount sufficient to pay and discharge the entire indebtedness on such Securities and any Coupons appertaining thereto not theretofore delivered to the Trustee for cancellation, including the principal of, any premium
and interest on, and any Additional Amounts with respect to such Securities and any Coupons appertaining thereto, to the date of such deposit (in the case of Securities which have become due and payable) or the Maturity thereof or the date of
redemption, as the case may be; 
 (2) the Company has paid or caused to be paid all other sums payable
hereunder by the Company with respect to the Outstanding Securities of such series and any Coupons appertaining thereto; and 
 (3) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and
discharge of this Indenture as to such series have been complied with. 
 In the event there are Securities of two or more
series hereunder, the Trustee shall be required to execute an instrument acknowledging satisfaction and discharge of this Indenture only if requested to do so with respect to Securities of such series as to which it is Trustee and if the other
conditions thereto are met. 
 Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of
Securities, the obligations of the Company to the Trustee under Section 6.7 and, if money shall have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section, the obligations of the Company and the
Trustee with respect to the Securities of such series under Sections 3.5, 3.6, 4.3, 10.2 and 10.3, with respect to the payment of Additional Amounts, if any, with respect to such Securities as contemplated by Section 10.4 (but only to the
extent that the Additional Amounts payable with respect to such Securities exceed the amount 

  
 33 

 
deposited in respect of such Additional Amounts pursuant to Section 4.1(1)(b)), and with respect to any rights to convert or exchange such Securities into Common Stock or other securities
shall survive. 
 Section 4.2 Defeasance and Covenant Defeasance. 

(1) Unless pursuant to Section 3.1, either or both of (i) defeasance of the Securities of or within a series
under clause (2) of this Section 4.2 shall not be applicable with respect to the Securities of such series or (ii) covenant defeasance of the Securities of or within a series under clause (3) of this Section 4.2 shall not be
applicable with respect to the Securities of such series, then such provisions, together with the other provisions of this Section 4.2 (with such modifications thereto as may be specified pursuant to Section 3.1 with respect to any
Securities), shall be applicable to such Securities and any Coupons appertaining thereto, and the Company may at its option by Board Resolution, at any time, with respect to such Securities and any Coupons appertaining thereto, elect to have
Section 4.2(2) or Section 4.2(3) be applied to such Outstanding Securities and any Coupons appertaining thereto upon compliance with the conditions set forth below in this Section 4.2. 

(2) Upon the Company’s exercise of the above option applicable to this Section 4.2(2) with respect to any
Securities of or within a series, the Company shall be deemed to have been discharged from its obligations with respect to such Outstanding Securities and any Coupons appertaining thereto on the date the conditions set forth in clause (4) of
this Section 4.2 are satisfied (hereinafter, “defeasance”). For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Outstanding Securities and
any Coupons appertaining thereto, which shall thereafter be deemed to be “Outstanding” only for the purposes of clause (4) of this Section 4.2 and the other Sections of this Indenture referred to in clauses (i) and
(ii) below, and to have satisfied all of its other obligations under such Securities and any Coupons appertaining thereto and this Indenture insofar as such Securities and any Coupons appertaining thereto are concerned (and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated or discharged hereunder: (i) the rights of Holders of such Outstanding Securities and any
Coupons appertaining thereto to receive, solely from the trust fund described in clause (4) of this Section 4.2 and as more fully set forth in such clause, payments in respect of the principal of (and premium, if any) and interest, if any,
on, and Additional Amounts, if any, with respect to, such Securities and any Coupons appertaining thereto when such payments are due, and any rights of such Holder to convert such Securities into Common Stock or exchange such Securities for other
securities, (ii) the obligations of the Company and the Trustee with respect to such Securities under Sections 3.5, 3.6, 10.2 and 10.3 and with respect to the payment of Additional Amounts, if any, on such Securities as contemplated by
Section 10.4 (but only to the extent that the Additional Amounts payable with respect to such Securities exceed the amount deposited in respect of such Additional Amounts pursuant to Section 4.2(4)(a) below), and with respect to any rights
to convert such Securities into Common Stock or exchange such Securities for other securities, (iii) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (iv) this

  
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Section 4.2. The Company may exercise its option under this Section 4.2(2) notwithstanding the prior exercise of its option under clause (3) of this Section 4.2 with respect
to such Securities and any Coupons appertaining thereto. 
 (3) Upon the Company’s exercise of the option
to have this Section 4.2(3) apply with respect to any Securities of or within a series, the Company shall be released from its obligations to the extent specified pursuant to Section 3.1(19), under any covenant applicable to such
Securities, with respect to such Outstanding Securities and any Coupons appertaining thereto on and after the date the conditions set forth in clause (4) of this Section 4.2 are satisfied (hereinafter, “covenant defeasance”), and
such Securities and any Coupons appertaining thereto shall thereafter be deemed to be not “Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in connection
with any such covenant, but shall continue to be deemed “Outstanding” for all other purposes hereunder. For this purpose, such covenant defeasance means that, with respect to such Outstanding Securities and any Coupons appertaining
thereto, the Company may omit to comply with, and shall have no liability in respect of, any term, condition or limitation set forth in any such Section or such other covenant, whether directly or indirectly, by reason of any reference elsewhere
herein to any such Section or such other covenant or by reason of reference in any such Section or such other 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 5.1(4) or 5.1(8) or otherwise, as the case may be, but, except as specified above, the remainder of this Indenture and such Securities and Coupons appertaining thereto shall be unaffected thereby. 

(4) The following shall be the conditions to application of clause (2) or (3) of this Section 4.2 to any
Outstanding Securities of or within a series and any Coupons appertaining thereto: 
 (a) The Company shall
irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 6.8 who shall agree to comply with the provisions of this Section 4.2 applicable to it) as trust funds in
trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities and any Coupons appertaining thereto, (1) an amount in Dollars in which such
Securities and any Coupons appertaining thereto are then specified as payable at Stated Maturity, (2) Government Obligations or (3) a combination thereof, applicable to such Securities and Coupons appertaining thereto (determined on the
basis of the Currency in which such Securities and Coupons appertaining thereto are then specified as payable at Stated Maturity) which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will
provide money in an amount, not later than one day before the due date of any payment of principal of (and premium, if any) and interest, if any, on such Securities and any Coupons appertaining thereto, sufficient, without consideration of any
reinvestment of such principal and interest, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to

  
 35 

 
pay and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge the principal of (and premium, if any) and interest, if any, on such Outstanding
Securities and any Coupons appertaining thereto at the Stated Maturity of such principal or installment of principal or premium or interest. 
 (b) Such defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which the Company is
a party or by which it is bound. 
 (c) No Event of Default or event which with notice or lapse of time or both
would become an Event of Default with respect to such Securities and any Coupons appertaining thereto shall have occurred and be continuing on the date of such deposit and, with respect to defeasance only, at any time during the period ending on the
123rd day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period). 
 (d) In the case of an election under clause (2) of this Section 4.2, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (i) the Company has received from the
Internal Revenue Service a letter ruling, or there has been published by the Internal Revenue Service a revenue ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in
either case to the effect that, and based thereon such opinion shall confirm that, the Holders of such Outstanding Securities and any Coupons appertaining thereto will not recognize income, gain or loss for Federal income tax purposes as a result of
such defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such defeasance had not occurred. 

(e) In the case of an election under clause (3) of this Section 4.2, the Company shall have delivered to the
Trustee an Opinion of Counsel to the effect that the Holders of such Outstanding Securities and any Coupons appertaining thereto will not recognize income, gain or loss for Federal income tax purposes as a result of such covenant defeasance and will
be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred. 

(f) The Company shall have delivered to the Trustee an Opinion of Counsel to the effect that, after the 123rd day after
the date of deposit, all money and Government Obligations (or other property as may be provided pursuant to Section 3.1) (including the proceeds thereof) deposited or caused to be deposited with the Trustee (or other qualifying trustee)
pursuant to this Section 4.2(4) to be held in trust will not be subject to any case or proceeding (whether voluntary or involuntary) in respect of the Company under any Federal or State bankruptcy, insolvency, reorganization or other similar
law, or any decree or order for relief in respect of the Company issued in connection therewith. 

  
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 (g) The Company shall have delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance or covenant defeasance under clause (2) or (3) of this Section 4.2 (as the case may be) have been complied with. 

(h) Notwithstanding any other provisions of this Section 4.2(4), such defeasance or covenant defeasance shall be
effected in compliance with any additional or substitute terms, conditions or limitations which may be imposed on the Company in connection therewith pursuant to Section 3.1. 

The Company shall pay and indemnify the Trustee (or other qualifying trustee, collectively for purposes of Section 4.3, the
“Trustee”) against any tax, fee or other charge, imposed on or assessed against the Government Obligations deposited pursuant to this Section 4.2 or the principal or interest received in respect thereof other than any such tax,
fee or other charge which by law is for the account of the Holders of such Outstanding Securities and any Coupons appertaining thereto. 
 Anything in this Section 4.2 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or Government Obligations (or other
property and any proceeds therefrom) held by it as provided in clause (4) of this Section 4.2 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect a defeasance or covenant defeasance, as applicable, in accordance with this Section 4.2. 

Section 4.3 Application of Trust Money. 
 Subject to the provisions of the last paragraph of Section 10.3, all money and Government Obligations (or other property as may be provided pursuant to Section 3.1) (including the proceeds
thereof) deposited with the Trustee pursuant to Section 4.1 or 4.2 in respect of any Outstanding Securities of any series and any Coupons appertaining thereto shall be held in trust and applied by the Trustee, in accordance with the provisions
of such Securities and any Coupons appertaining thereto and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such
Securities and any Coupons appertaining thereto of all sums due and to become due thereon in respect of principal (and premium, if any) and interest and Additional Amounts, if any; but such money and Government Obligations need not be segregated
from other funds except to the extent required by law. 
 ARTICLE 5 

REMEDIES 

Section 5.1 Events of Default. 
 “Event of Default”, wherever used herein with respect to Securities of any series, means any one of the following events (whatever the reason for such Event of Default and whether it

  
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shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or
governmental body), unless such event is specifically deleted or modified in or pursuant to the supplemental indenture or Board Resolution and set forth in an Officer’s Certificate establishing the terms of such series pursuant to this
Indenture: 
 (1) default in the payment of any interest on any Security of such series, or any Additional
Amounts payable with respect thereto, when such interest becomes or such Additional Amounts become due and payable, and continuance of such default for a period of 30 days; or 

(2) default in the payment of the principal of or any premium, if any, on any Security of such series, or any Additional
Amounts payable with respect thereto, when such principal or premium becomes or such Additional Amounts become due and payable at their Maturity; or 
 (3) [Intentionally Omitted] 
 (4) default in the performance, or
breach, of any covenant or warranty of the Company in this Indenture, the Securities, or in the Board Resolution or any supplemental indenture hereto establishing such series of Securities (other than a covenant or warranty a default in the
performance or the breach of which is elsewhere in this Section specifically dealt with or which has been expressly included in this Indenture solely for the benefit of a series of Securities other than such series), and continuance of such default
or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of such
series, a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 

(5) if any event of default as defined in any mortgage, indenture or instrument under which there may be issued, or by
which there may be secured or evidenced, any indebtedness for money borrowed of the Company, whether such indebtedness now exists or shall hereafter be created, shall happen and shall result in such indebtedness in principal amount in excess of
$25,000,000 becoming or being declared due and payable prior to the date on which it would otherwise become due and payable, and such acceleration shall not be rescinded or annulled or otherwise cured within a period of 10 days after there shall
have been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of such series, a written notice specifying such event
of default and requiring the Company to cause such acceleration to be rescinded or annulled or to cause such indebtedness to be discharged and stating that such notice is a “Notice of Default” hereunder; or 

(6) the Company shall fail within 60 days to pay, bond or otherwise discharge any uninsured judgment or court order for
the payment of money in excess of $50,000,000, which is not stayed on appeal or is not otherwise being appropriately contested in good faith; or 

  
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 (7) the entry by a court having competent jurisdiction of: 

(a) a decree or order for relief in respect of the Company in an involuntary proceeding under any applicable bankruptcy,
insolvency, reorganization or other similar law and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or 
 (b) a decree or order adjudging the Company to be insolvent, or approving a petition seeking reorganization, arrangement, adjustment or composition of the Company and such decree or order shall remain
unstayed and in effect for a period of 60 consecutive days; or 
 (c) a final and non-appealable order
appointing a custodian, receiver, liquidator, assignee, trustee or other similar official of the Company or of any substantial part of the property of the Company, or ordering the winding up or liquidation of the affairs of the Company; or

 (8) the commencement by the Company of a voluntary proceeding under any applicable bankruptcy, insolvency,
reorganization or other similar law or of a voluntary proceeding seeking to be adjudicated insolvent or the consent by the Company to the entry of a decree or order for relief in an involuntary proceeding under any applicable bankruptcy, insolvency,
reorganization or other similar law or to the commencement of any insolvency proceedings against it, or the filing by the Company of a petition or answer or consent seeking reorganization, arrangement, adjustment or composition of the Company or
relief under any applicable law, or the consent by the Company to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee or similar official of the Company or any substantial
part of the property of the Company or the making by the Company of an assignment for the benefit of creditors, or the taking of corporate action by the Company in furtherance of any such action; or 

(9) any other Event of Default provided in or pursuant to this Indenture or established in or pursuant to a Board
Resolution and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto establishing any series of Securities with respect to Securities of such series. 

Section 5.2 Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default with respect to Securities of any series at the time Outstanding (other than an Event of Default specified in
clause (7) or (8) of Section 5.1) occurs and is continuing, then the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of such series or set forth in the Board Resolution or any indenture
supplemental hereto establishing any series of Securities may declare the principal of all the Securities of such series, or such lesser amount as may be provided for in the Securities of such series, to be due and payable immediately, by a notice
in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal or such lesser amount shall become immediately due and payable. 

  
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 If an Event of Default specified in clause (7) or (8) of Section 5.1 occurs,
all unpaid principal of and accrued interest on the Outstanding Securities of that series shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of any Security of
that series. 
 At any time after a declaration of acceleration with respect to the Securities of any series has been made and
before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of not less than a majority in principal amount of the Outstanding Securities of such series, by written
notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if 
 (1) the
Company has paid or deposited with the Trustee a sum of money sufficient to pay 
 (a) all overdue installments
of any interest on and Additional Amounts with respect to all Securities of such series and any Coupon appertaining thereto, 
 (b) the principal of and any premium on any Securities of such series which have become due otherwise than by such declaration of acceleration and interest thereon and any Additional Amounts with respect
thereto at the rate or rates borne by or provided for in such Securities, 
 (c) to the extent that payment of
such interest or Additional Amounts is lawful, interest upon overdue installments of any interest and Additional Amounts at the rate or rates borne by or provided for in such Securities, and 

(d) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel and all other amounts due the Trustee under Section 6.7; and 
 (2) all Events of Default with respect to Securities of such series, other than the non-payment of the principal of, any premium and interest on, and any Additional Amounts with respect to Securities of
such series which shall have become due solely by such declaration of acceleration, shall have been cured or waived as provided in Section 5.13. 
 No such rescission shall affect any subsequent default or impair any right consequent thereon. 
 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company covenants that if 

  
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 (1) default is made in the payment of any installment of interest on or any
Additional Amounts with respect to any Security or any Coupon appertaining thereto when such interest or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or 

(2) default is made in the payment of the principal of or any premium on any Security or any Additional Amounts with
respect thereto at their Maturity, 
 the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the
Holders of such Securities and any Coupons appertaining thereto, the whole amount of money then due and payable with respect to such Securities and any Coupons appertaining thereto, with interest upon the overdue principal, any premium and, to the
extent that payment of such interest shall be legally enforceable, upon any overdue installments of interest and Additional Amounts at the rate or rates borne by or provided for in such Securities, and, in addition thereto, such further amount of
money 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 and all other amounts due to the Trustee under
Section 6.7. 
 If the Company fails to pay the money it is required to pay the Trustee pursuant to the preceding paragraph
forthwith upon the demand of the Trustee, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the money so due and unpaid, and may prosecute such proceeding to judgment or final
decree, and may enforce the same against the Company or any other obligor upon such Securities and any Coupons appertaining thereto and collect the monies adjudged or decreed to be payable in the manner provided by law out of the property of the
Company or any other obligor upon such Securities and any Coupons appertaining thereto, wherever situated. 
 If an Event of
Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series and any Coupons appertaining thereto by
such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise
of any power granted herein or therein, or to enforce any other proper remedy. 
 Section 5.4 Trustee May File Proofs of
Claim. 
 In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,
adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities of any series or the property of the Company or such other obligor or their creditors, the Trustee (irrespective of whether the
principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of any overdue principal, premium,
interest or Additional Amounts) shall be entitled and empowered, by intervention in such proceeding or otherwise, 

  
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 (1) to file and prove a claim for the whole amount, or such lesser amount as
may be provided for in the Securities of any applicable series, of the principal and any premium, interest and Additional Amounts owing and unpaid in respect of the Securities and any Coupons appertaining thereto and to file such other papers or
documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents or counsel and any other amounts due the
Trustee under Section 6.7) and of the Holders of Securities or any Coupons appertaining thereto allowed in such judicial proceeding, and 
 (2) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder of Securities or any Coupons 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 of Securities or any Coupons, 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 6.7. 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
of a Security or any Coupon any plan of reorganization, arrangement, adjustment or composition affecting the Securities or Coupons or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of a
Security or any Coupon in any such proceeding. 
 Section 5.5 Trustee May Enforce Claims Without Possession of Securities or
Coupons. 
 All rights of action and claims under this Indenture or any of the Securities or Coupons may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or Coupons or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an
express trust, and any recovery or judgment, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, shall be for the ratable benefit of each and every Holder of
the Securities or Coupons in respect of which such judgment has been recovered. 
 Section 5.6 Application of Money
Collected. 
 Any money collected by the Trustee pursuant to this Article or any money or other property otherwise
distributable in respect of the Company’s obligations under this Indenture shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal, or any
premium, interest or Additional Amounts, upon presentation of the Securities or Coupons, or both, as the case may be, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 

  
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 FIRST: To the payment of all amounts due the Trustee and any predecessor
Trustee under Section 6.7; 
 SECOND: To the payment of the amounts then due and unpaid upon the Securities
and any Coupons for principal and any premium, interest and Additional Amounts in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the aggregate amounts due
and payable on such Securities and Coupons for principal and any premium, interest and Additional Amounts, respectively; 
 THIRD: The balance, if any, to the Person or Persons entitled thereto. 

Section 5.7 Limitations on Suits. 
 No Holder of any Security of any series or any Coupons appertaining thereto shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment
of a receiver or trustee, or for any other remedy hereunder, unless 
 (1) an Event of Default shall have
occurred and be continuing and such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of such series; 

(2) the Holders of not less than 25% in principal amount of the Outstanding Securities of such series shall have made
written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (3) such Holder or Holders have offered to the Trustee such indemnity as is reasonably satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request;

 (4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to
institute any such proceeding; and 
 (5) no direction inconsistent with such written request has been given to
the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of such series; 
 it being
understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture or any Security to affect, disturb or prejudice the rights of any other such
Holders or Holders of Securities of any other series, or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable
benefit of all such Holders. 

  
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 Section 5.8 Unconditional Right of Holders to Receive Principal and Any Premium, Interest
and Additional Amounts. 
 Notwithstanding any other provision in this Indenture, the Holder of any Security or Coupon shall
have the right, which is absolute and unconditional, to receive payment of the principal of, any premium and (subject to Sections 3.5 and 3.7) interest on, and any Additional Amounts with respect to such Security or payment of such Coupon, as the
case may be, on the respective Stated Maturity or Maturities therefor specified in such Security or Coupon (or, in the case of redemption, on the Redemption Date or, in the case of repayment at the option of such Holder if provided in or pursuant to
this Indenture, on the date such repayment is due) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. 

Section 5.9 Restoration of Rights and Remedies. 
 If the Trustee or any Holder of a Security or a Coupon has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any
reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case the Company, the Trustee and each such Holder shall, subject to any determination in such proceeding, be restored severally and respectively to
their former positions hereunder, and thereafter all rights and remedies of the Trustee and each such Holder shall continue as though no such proceeding had been instituted. 
 Section 5.10 Rights and Remedies Cumulative. 
 Except as otherwise provided
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or Coupons in the last paragraph of Section 3.6, no right or remedy herein conferred upon or reserved to the Trustee or to each and every Holder of a
Security or a Coupon is intended to be exclusive of any other right or remedy, and every right and remedy, to the extent permitted by law, shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or
remedy. 
 Section 5.11 Delay or Omission Not Waiver. 

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

Section 5.12 Control by Holders of Securities. 
 The Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to
the Trustee or exercising any trust or power conferred on the Trustee with respect to the Securities of such series and any Coupons appertaining thereto, provided that 

  
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 (1) such direction shall not be in conflict with any rule of law or with
this Indenture or with the Securities of such series or involve the Trustee in any personal liability or expense, 
 (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and 

(3) such direction is not unduly prejudicial to the rights of the other Holders of Securities of such series not joining
in such action. 
 Section 5.13 Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the Outstanding Securities of any series on behalf of the Holders of all
the Securities of such series and any Coupons appertaining thereto may waive any past default hereunder with respect to such series and its consequences, except a default 

(1) in the payment of the principal of, any premium or interest on, or any Additional Amounts with respect to, any
Security of such series or any Coupons appertaining thereto, or 
 (2) in respect of a covenant or provision
hereof which under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 
 Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend
to any subsequent or other default or impair any right consequent thereon. 
 Section 5.14 Waiver of Usury, Stay or Extension
Laws. 
 The Company covenants that (to the extent that it may lawfully do so) it will not at any time insist upon, or
plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the
Company expressly waives (to the extent that it may lawfully do so) all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit
the execution of every such power as though no such law had been enacted. 
 Section 5.15 Undertaking for Costs.

 All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have
agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee 

  
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for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of any undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section 5.15
shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of Outstanding Securities of any series, or to any suit instituted by any
Holder for the enforcement of the payment of the principal of (or premium, if any) or interest, if any, on or Additional Amounts, if any, with respect to any Security on or after the respective Stated Maturities expressed in such Security (or, in
the case of redemption, on or after the Redemption Date, and, in the case of repayment, on or after the date for repayment) or for the enforcement of the right, if any, to convert or exchange any Security into Common Stock or other securities in
accordance with its terms. 
 ARTICLE 6 
 THE TRUSTEE 
 Section 6.1 Certain Duties and Responsibilities of the
Trustee. 
 (1) Except during the continuance of an Event of Default, 

(a) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture,
and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (b) in the
absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements
of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they
conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 
 (2) In case an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their
exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (3) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that

 (a) this Subsection shall not be construed to limit the effect of Subsection (1) of this Section;

  
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 (b) the Trustee shall not be liable for any error of judgment made in good
faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (c) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the
Outstanding Securities of any series, relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the
Securities of such series. 
 (4) No provision of this Indenture shall require the Trustee to expend or risk its
own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it. 
 (5) No provision of this Indenture
shall be deemed to impose any duty or obligation on the Trustee to perform any act or acts, receive or obtain any interest in property or exercise any interest in property, or exercise any right, power, duty or obligation conferred or imposed on it
in any jurisdiction in which it shall be illegal, or in which the Trustee shall be unqualified or incompetent in accordance with applicable law, to perform any such act or acts, to receive or obtain any such interest in property or to exercise any
such right, power, duty or obligation. 
 (6) Whether or not therein expressly so provided, every provision of
this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 
 Section 6.2 Certain Rights of Trustee. 
 Subject to Section 6.1:

 (1) the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon
any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or document reasonably believed by it to be genuine and to have been signed or presented by
the proper party or parties; 
 (2) any request or direction of the Company mentioned herein shall be
sufficiently evidenced by a Company Request or a Company Order and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 

(3) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or
established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence shall be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officer’s Certificate;

  
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 (4) the Trustee may consult with counsel 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; 

(5) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by or pursuant to this
Indenture at the request or direction of any of the Holders of Securities of any series or any Coupons appertaining thereto pursuant to this Indenture, unless such Holders shall have offered to the Trustee such security or indemnity as is reasonably
satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 
 (6) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent,
order, bond, debenture, coupon or other paper or document, but the Trustee, in its discretion, may but shall not be obligated to make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled to examine, during business hours and upon reasonable notice, the books, records and premises of the Company, personally or by agent or attorney; 

(7) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by
or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 

(8) the Trustee shall not be liable for any action taken, suffered, or omitted to be taken, by it in good faith and
believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (9) the Trustee shall not be deemed to have or be charged with knowledge of any default (as defined in this Section 6.2) or Event of Default with respect to the Securities of any series or any
Coupons unless a Responsible Officer of the Trustee has received at the Corporate Trust Office of the Trustee written notice of such default or Event of Default from the Company or any Holder of the Securities of such series, and such notice
references the Securities and this Indenture; 
 (10) 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, 
 (11) the Trustee may request that the Company 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 

  
 48 

 
signed by any persons authorized to sign an Officer’s Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded; and

 (12) the permissive right of the Trustee to take action under this Indenture shall not be construed as a
duty. 
 Section 6.3 Notice of Defaults. 
 Within 90 days after the occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall transmit by mail to all Holders of Securities of such series entitled to
receive reports pursuant to Section 7.3(3), notice of such default hereunder known to a Responsible Officer of the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the
payment of the principal of (or premium, if any), or interest, if any, on, or Additional Amounts with respect to, any Security of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the
executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of Securities and Coupons of such series; and provided
further that, in the case of any default of the character specified in Section 5.1(5) with respect to Securities of such series, no such notice to Holders shall be given until at least 10 days after the occurrence thereof. For the purpose of
this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series. 

The Trustee shall not be deemed to have or be charged with knowledge of a default unless a Responsible Officer receives at the Corporate
Trust Office of the Trustee written notice of the default giving rise thereto from the Company or any of the Holders and such notice references the Securities and this Indenture. 

Section 6.4 Not Responsible for Recitals or Issuance of Securities. 

The recitals contained herein and in the Securities, except the Trustee’s certificate of authentication, and in any Coupons shall be
taken as the statements of the Company and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Securities or the Coupons, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that the statements made by it in any Statement of
Eligibility on Form T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of the Securities
or the proceeds thereof. 
 Section 6.5 May Hold Securities. 

The Trustee, any Authenticating Agent, any Paying Agents, any Security Registrar or any other Person that may be an agent of the Trustee
or the Company, in its individual or any other capacity, may become the owner or pledgee of Securities or Coupons and, subject to Sections 

  
 49 

 
310(b) and 311 of the Trust Indenture Act, may otherwise deal with the Company with the same rights it would have if it were not the Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other Person. 
 Section 6.6 Money Held in Trust. 

Except as provided in Section 4.3 and Section 10.3, money held by the Trustee in trust hereunder need not be segregated from
other funds except to the extent required by law and shall be held uninvested. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed to in writing with the Company. 

Section 6.7 Compensation and Reimbursement. 
 The Company agrees: 
 (1) to pay to the Trustee from time to time
reasonable compensation for all services rendered by the Trustee hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture or arising out of or in connection with the acceptance or administration of the trust or trusts hereunder (including the reasonable
compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to the Trustee’s negligence or willful misconduct; and 

(3) to indemnify, defend and hold the Trustee and its directors, officers, employees and agents (collectively with the
Trustee, the “Indemnities”) harmless from and against every loss, liability or expense, including without limitation damages, fines, suits, actions, demands, penalties, costs, out -of-pocket or incidental expenses, legal fees and
expenses, and the costs and expenses of defending or preparing to defend against any claim (collectively, “Losses”), that may be imposed on, incurred by, or asserted against, any Indemnitee for or in respect of the Trustee’s
(1) execution and delivery of this Indenture, (2) compliance or attempted compliance with or reliance upon any instruction or other direction upon which the Trustee is authorized to rely pursuant to the terms of this Indenture, and
(3) performance under this Indenture, except in the case of such performance only and with respect to any Indemnitee to the extent that the Loss resulted from such Indemnitee’s negligence or willful misconduct. 

The Trustee’s claims under this Section shall have priority over all other claims against the Company under this Indenture.

 As security for the performance of the obligations of the Company under this Section, the Trustee shall have a lien prior to
the Securities of any series upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of, and premium or interest on or any Additional Amounts with respect to particular Securities
or any Coupons appertaining thereto. 

  
 50 

 In addition to and without prejudice to its rights hereunder, when the Trustee incurs
expenses or renders services in connection with a default specified in Section 5.1, the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of
administration under applicable Federal or state bankruptcy, insolvency or other similar law. “Trustee” for purposes of this Section 6.7 shall include any predecessor Trustee, but the negligence, willful misconduct or bad faith of any
Trustee shall not affect the rights of any other Trustee under this Section 6.7. 
 The provisions of this
Section 6.7, including the lien and claim of the Trustee, shall survive the satisfaction, discharge and termination of this Indenture for any reason of this Indenture, including under Article IV hereof, the resignation or removal of the Trustee
and any rejection or termination under any applicable bankruptcy or insolvency law, and shall apply with equal force and effect to the Trustee in each of its capacities hereunder and each agent, custodian and other Person employed to act hereunder.

 Section 6.8 Corporate Trustee Required; Eligibility. 

There shall at all times be a Trustee hereunder that is a Corporation organized and doing business under the laws of the United States of
America, any state thereof or the District of Columbia, that is eligible under Section 310(a)(1) of the Trust Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act and that has a combined capital and surplus
(computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000, and that is subject to supervision or examination by Federal or state authority. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 
 Section 6.9 Disqualification; Conflicting Interests. 
 If the Trustee has
or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act
and this Indenture. For purposes of Section 310(b)(1) of the Trust Indenture Act and to the extent permitted thereby, the Trustee, in its capacity as trustee in respect of the Securities of any series, shall not be deemed to have a conflict of
interest arising from its capacity as trustee in respect of the Securities of any other series. 
 The Trustee shall comply with
Section 310(b) of the Trust Indenture Act; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the Trust Indenture Act any indenture or indentures under which other securities or certificates of
interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of the Trust Indenture Act are met. 

Nothing herein shall prevent the Trustee from filing with the Commission the application referred to in the second to last paragraph of
Section 310(b) of the Trust Indenture Act. 

  
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 Section 6.10 Resignation and Removal; Appointment of Successor. 

(1) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall
become effective until the acceptance of appointment by the successor Trustee pursuant to Section 6.11. 

(2) Subject to Section 6.10(1), the Trustee may resign at any time with respect to the Securities of one or more
series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation,
the resigning or removed Trustee, as the case may be, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to such series. 

(3) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a
majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and the Company. 
 (4) If at any time: 
 (a) the Trustee shall fail to comply with
the obligations imposed upon it under Section 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company or any Holder of a Security of such series who has been a bona fide Holder of
a Security of such series for at least six months, or 
 (b) the Trustee shall cease to be eligible under
Section 6.8 and shall fail to resign after written request therefor by the Company or any such Holder, or 

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

then, in any such case, (i) the Company, by or pursuant to a Board Resolution, may remove the Trustee with respect to all Securities
or the Securities of such series, or (ii) subject to Section 5.15, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees. 

(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of
Trustee for any cause, with respect to the Securities of one or more series, the Company, by or pursuant to a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of such series (it being understood
that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with
the 

  
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applicable requirements of Section 6.11. If, within one year after such resignation, removal or incapacity, or the occurrence of such vacancy, a successor Trustee with respect to the
Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith
upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by
the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 6.11, any Holder of a Security
who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to
the Securities of such series. 
 (6) The Company shall give notice of each resignation and each removal of the
Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Registered
Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of
Payment located outside the United States. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 

(7) In no event shall any retiring Trustee be liable for the acts or omissions of any successor Trustee hereunder.

 Section 6.11 Acceptance of Appointment by Successor. 

(1) Upon the appointment hereunder of any successor Trustee with respect to all Securities, such successor Trustee so
appointed shall execute, acknowledge and deliver to the Company and the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties hereunder of the retiring Trustee; but, on the request of the Company or such successor Trustee, such retiring Trustee, upon payment of
its charges, shall execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and, subject to Section 10.3, shall duly assign, transfer and deliver to such successor
Trustee all property and money held by such retiring Trustee hereunder, subject nevertheless to its claim and lien provided for in Section 6.7. 
 (2) Upon the appointment hereunder of any successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and such successor Trustee shall execute
and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (a) shall contain 

  
 53 

 
such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, such successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (b) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary
or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring
Trustee, and (c) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or
in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such
Trustee and that no Trustee shall be responsible for any notice given to, or received by, or any act or failure to act on the part of any other Trustee hereunder, and, upon the execution and delivery of such supplemental indenture, the resignation
or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested in
the Trustee under this Indenture with respect to the Securities of that or those series to which the appointment of such successor Trustee relates other than as hereinafter expressly set forth, and such successor Trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the
Company or such successor Trustee, such retiring Trustee, upon payment of its charges with respect to the Securities of that or those series to which the appointment of such successor Trustee relates and subject to Section 10.3 shall duly
assign, transfer and deliver to such successor Trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates, subject to its claim and lien provided for in Section 6.7. 

(3) Upon request of any Person appointed hereunder as a successor Trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (1) or (2) of this Section, as the case may be. 

(4) No Person shall accept its appointment hereunder as a successor Trustee unless at the time of such acceptance such
successor Person shall be qualified and eligible under this Article. 
 Section 6.12 Merger, Conversion, Consolidation or
Succession to Business. 
 Any Corporation or eligible entity into which the Trustee may be merged or converted or with
which it may be consolidated, or any Corporation or eligible entity resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any Corporation or eligible entity succeeding to all or substantially all of the
corporate trust business of the Trustee, 

  
 54 

 
shall be the successor of the Trustee hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been
authenticated but not delivered by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if
such successor Trustee had itself authenticated such Securities. 
 Section 6.13 Appointment of Authenticating Agent.

 The Trustee may appoint one or more Authenticating Agents acceptable to the Company with respect to one or more series of
Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of that or those series issued upon original issue, exchange, registration of transfer, partial redemption or partial repayment or pursuant to
Section 3.6, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to
the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a
certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. 
 Each Authenticating Agent must be
acceptable to the Company and, except as provided in or pursuant to this Indenture, shall at all times be a Corporation that would be permitted by the Trust Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act,
is authorized under applicable law and by its charter to act as an Authenticating Agent and has a combined capital and surplus (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000. If at any time an
Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect specified in this Section. 

Any Corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any Corporation
resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any Corporation succeeding to all or substantially all of the corporate agency or corporate trust business of an Authenticating Agent,
shall be the successor of such Authenticating Agent hereunder, provided such Corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating
Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and the Company. The
Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time
such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall (i) mail written notice of such
appointment by first-class mail, postage prepaid, to all Holders of Registered Securities, if any, of the series with respect to which such Authenticating Agent shall serve, as their names and addresses appear in the Security Register, and
(ii) if Securities of the series are issued as Bearer Securities, publish notice of such 

  
 55 

 
appointment at least once in an Authorized Newspaper in the place where such successor Authenticating Agent has its principal office if such office is located outside the United States. Any
successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor
Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 
 The Company agrees to pay each
Authenticating Agent from time to time reasonable compensation for its services under this Section. If the Trustee makes such payments, it shall be entitled to be reimbursed for such payments, subject to the provisions of Section 6.7.

 The provisions of Sections 3.8, 6.4 and 6.5 shall be applicable to each Authenticating Agent. 

If an Authenticating Agent is appointed with respect to one or more series of Securities pursuant to this Section, the Securities of such
series may have endorsed thereon, in addition to or in lieu of the Trustee’s certificate of authentication, an alternate certificate of authentication in substantially the following form: 

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

 

			
	                           
             , as Trustee
		
	By	 	 
		 	as Authenticating Agent
		
	By	 	 
		 	Authorized Officer

 If all of the Securities of any series may not be originally issued at one time, and if the Trustee
does not have an office capable of authenticating Securities upon original issuance located in a Place of Payment where the Company wishes to have Securities of such series authenticated upon original issuance, the Trustee, if so requested in
writing (which writing need not be accompanied by or contained in an Officer’s Certificate by the Company), shall appoint in accordance with this Section an Authenticating Agent having an office in a Place of Payment designated by the Company
with respect to such series of Securities. 
 Section 6.14 Trustee’s Application for Instructions from the Company.

 Any application by the Trustee for written instructions from the Company may, at the option of the Trustee, set forth in
writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or
omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three Business Days after the date any officer of the Company actually receives
such application, unless any such officer shall have 

  
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consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions in
response to such application specifying the action to be taken or omitted. 
 ARTICLE 7 

HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 Section 7.1 Company to Furnish Trustee Names and Addresses of Holders. 
 In
accordance with Section 312(a) of the Trust Indenture Act, the Company shall furnish or cause to be furnished to the Trustee 
 (1) semiannually with respect to Securities upon such dates as are set forth in or pursuant to the Board Resolution or indenture supplemental hereto authorizing such series, a list, in each case in such
form as the Trustee may reasonably require, of the names and addresses of Holders as of the applicable date, and 
 (2) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days
prior to the time such list is furnished, 
 provided, however, that so long as the Trustee is the Security Registrar no such
list shall be required to be furnished. 
 Section 7.2 Preservation of Information; Communications to Holders.

 The Trustee shall comply with the obligations imposed upon it pursuant to Section 312 of the Trust Indenture Act.

 Every Holder of Securities or Coupons, by receiving and holding the same, agrees with the Company and the Trustee that
neither the Company, the Trustee, any Paying Agent or any Security Registrar shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders of Securities in accordance with
Section 312(c) of the Trust Indenture Act, regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under
Section 312(b) of the Trust Indenture Act. 
 Section 7.3 Reports by Trustee. 

(1) Within 60 days after September 15 of each year commencing with the first September 15 following the first
issuance of Securities pursuant to Section 3.3, if and to the extent required by Section 313(a) of the Trust Indenture Act, the Trustee shall transmit, pursuant to Section 313(c) of the Trust Indenture Act, a brief report dated as of
such September 15 with respect to any of the events specified in said Section 313(a) which may have occurred since the later of the immediately preceding September 15 and the date of this Indenture. 

  
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 (2) The Trustee shall transmit the reports required by Section 313(a)
of the Trust Indenture Act at the times specified therein. 
 (3) Reports pursuant to this Section shall be
transmitted in the manner and to the Persons required by Sections 313(c) and 313(d) of the Trust Indenture Act. The Company will promptly notify the Trustee when the Securities are listed on any stock exchange and of any delisting thereof.

 Section 7.4 Reports by Company. 
 The Company, pursuant to Section 314(a) of the Trust Indenture Act, shall: 
 (1) file with the Trustee, within 15 days after the Company files the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions
of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Company may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of
1934, as amended; or, if the Company is not required to file information, documents or reports pursuant to either of said Sections, then it shall file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time
to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the Securities Exchange Act of 1934, as amended, in respect of a security listed and registered
on a national securities exchange as may be prescribed from time to time in such rules and regulations; 
 (2)
file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such additional information, documents and reports with respect to compliance by the Company, with the conditions and
covenants of this Indenture as may be required from time to time by such rules and regulations; and 
 (3)
transmit within 30 days after the filing thereof with the Trustee, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, such summaries of any information, documents and reports required to be filed by the
Company pursuant to paragraphs (1) and (2) of this Section as may be required by rules and regulations prescribed from time to time by the Commission. 
 Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information
contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on an Officer’s Certificate). 

  
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 ARTICLE 8 
 CONSOLIDATION, MERGER AND SALES 
 Section 8.1 Company May Consolidate,
Etc., Only on Certain Terms. 
 The Company shall not consolidate with or merge into any other corporation or limited
liability company or convey or transfer its properties and assets substantially as an entirety to any Person unless: 
 (1) the corporation formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer the properties and assets of the Company substantially as an
entirety shall be a corporation or limited liability company organized and existing under the laws of the United States of America, any state thereof or the District of Columbia, and shall expressly assume, by an indenture supplemental hereto,
executed and delivered to the Trustee for each series of Securities, in form satisfactory to each such Trustee, the due and punctual payment of the principal of (and premium, if any) and interest, if any, on all the Securities and the performance of
every covenant of this Indenture on the part of the Company to be performed or observed; 
 (2) immediately
after giving effect to such transaction, no Event of Default with respect to any series of Securities, and no event which, after notice or lapse of time, or both, would become an Event of Default with respect to any series of Securities, shall have
happened and be continuing; and 
 (3) the Company has delivered to the Trustee for each series of Securities an
Officer’s Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance or transfer and such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such
transaction have been complied with. 
 Section 8.2 Successor Person Substituted for Company. 

Upon any consolidation by the Company with or merger of the Company into any other Person or any conveyance, transfer or lease of the
properties and assets of the Company substantially as an entirety to any Person in accordance with Section 8.1, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease
is made shall succeed to, and (except in the case of a lease) be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein.

  
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 ARTICLE 9 
 SUPPLEMENTAL INDENTURES 
 Section 9.1 Supplemental Indentures Without
Consent of Holders. 
 Without the consent of any Holders of Securities or Coupons, the Company (when authorized by or
pursuant to a Board Resolution) and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, for any of the following purposes: 

(1) to evidence the succession of another Person to the Company, and the assumption by any such successor of the
covenants of the Company contained herein and in the Securities; or 
 (2) to add to the covenants of the
Company for the benefit of the Holders of all or any series of Securities (as shall be specified in such supplemental indenture or indentures) or to surrender any right or power herein conferred upon the Company; or 

(3) to add to or change any of the provisions of this Indenture to provide that Bearer Securities may be registrable as
to principal, to change or eliminate any restrictions on the payment of principal of, any premium or interest on or any Additional Amounts with respect to Securities, to permit Bearer Securities to be issued in exchange for Registered Securities, to
permit Bearer Securities to be exchanged for Bearer Securities of other authorized denominations or to permit or facilitate the issuance of Securities in uncertificated form, provided that any such action shall not adversely affect the interests of
the Holders of Outstanding Securities of any series or any Coupons appertaining thereto in any material respect; or 
 (4) to establish the form or terms of Securities of any series and any Coupons appertaining thereto as permitted by Sections 2.1 and 3.1; or 

(5) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the
Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of
Section 6.11; or 
 (6) to cure any ambiguity or to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture which shall not adversely affect the interests of the Holders of Securities of any series
then Outstanding or any Coupons appertaining thereto in any material respect; or 
 (7) to add to, delete from
or revise the conditions, limitations and restrictions on the authorized amount, terms or purposes of issue, authentication and delivery of Securities, as herein set forth; or 

  
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 (8) to add any additional Events of Default with respect to all or any
series of Securities (as shall be specified in such supplemental indenture); or 
 (9) 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 Securities pursuant to Article Four, provided that any such action shall not adversely affect the interests of
any Holder of an Outstanding Security of such series and any Coupons appertaining thereto or any other Outstanding Security or Coupon in any material respect; or 

(10) to make provisions with respect to conversion or exchange rights of Holders of Securities of any series; or

 (11) to amend or supplement any provision contained herein or in any supplemental indenture, provided that no
such amendment or supplement shall materially adversely affect the interests of the Holders of any Securities then Outstanding. 

Section 9.2 Supplemental Indentures with Consent of Holders. 

With the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series affected by
such supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company (when authorized by or pursuant to a Company’s Board Resolution) and the Trustee may enter into an indenture or indentures supplemental
hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture or of the
Securities of such series; provided, however, that no such supplemental indenture, without the consent of the Holder of each Outstanding Security affected thereby, shall 

(1) change the Stated Maturity of the principal of, or any premium or installment of interest on or any Additional
Amounts with respect to, any Security, or reduce the principal amount thereof or the rate (or modify the calculation of such rate) of interest thereon or any Additional Amounts with respect thereto, or any premium payable upon the redemption thereof
or otherwise, or change the obligation of the Company to pay Additional Amounts pursuant to Section 10.4 (except as contemplated by Section 8.1(1) and permitted by Section 9.1(1)), or reduce the amount of the principal of an Original
Issue Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2 or the amount thereof provable in bankruptcy pursuant to Section 5.4, change the redemption provisions
or adversely affect the right of repayment at the option of any Holder as contemplated by Article Thirteen, or change the Currency in which the principal of, any premium or interest on, or any Additional Amounts with respect to any Security is
payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date or, in the case of repayment at the option of the Holder,
on or after the date for repayment), or 

  
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 (2) reduce the percentage in principal amount of the Outstanding Securities
of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their
consequences) provided for in this Indenture, or reduce the requirements of Section 15.4 for quorum or voting, or 
 (3) modify any of the provisions of this Section, Section 5.13 or Section 10.8, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be
modified or waived without the consent of the Holder of each Outstanding Security affected thereby, or 
 (4)
make any change that adversely affects the right to convert or exchange any Security into or for Common Stock or other securities in accordance with its terms. 
 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which shall have been included expressly and solely for the benefit of one or more particular series
of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series.

 It shall not be necessary for any Act of Holders of Securities under this Section to approve the particular form of any
proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
 Section 9.3
Execution of Supplemental Indentures. 
 As a condition to executing, or accepting the additional trusts created by, any
supplemental indenture permitted by this Article or the modifications thereby of the trust created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 6.1) shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and an Officer’s Certificate stating that all conditions precedent to the execution of such supplemental indenture have been
fulfilled. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Section 9.4 Effect of Supplemental Indentures. 
 Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all
purposes; and every Holder of a Security theretofore or thereafter authenticated and delivered hereunder and of any Coupon appertaining thereto shall be bound thereby. 
 Section 9.5 Reference in Securities to Supplemental Indentures. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and
shall if required by the Trustee, bear a 

  
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notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform,
in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 

Section 9.6 Conformity with Trust Indenture Act. 
 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect. 

Section 9.7 Notice of Supplemental Indenture. 
 Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to Section 9.2, the Company shall transmit to the Holders of Outstanding Securities of any series
affected thereby a notice setting forth the substance of such supplemental indenture. 
 ARTICLE 10 

COVENANTS 

Section 10.1 Payment of Principal, Any Premium, Interest and Additional Amounts. 

The Company covenants and agrees for the benefit of the Holders of the Securities of each series that it will duly and punctually pay the
principal of, any premium and interest on and any Additional Amounts with respect to the Securities of such series in accordance with the terms thereof, any Coupons appertaining thereto and this Indenture. Any interest due on any Bearer Security on
or before the Maturity thereof, and any Additional Amounts payable with respect to such interest, shall be payable only upon presentation and surrender of the Coupons appertaining thereto for such interest as they severally mature. 

Section 10.2 Maintenance of Office or Agency. 
 The Company shall maintain in each Place of Payment for any series of Securities an Office or Agency where Securities of such series (but not Bearer Securities, except as otherwise provided below, unless
such Place of Payment is located outside the United States) may be presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer or exchange, where Securities of such series that are
convertible or exchangeable may be surrendered for conversion or exchange, and where notices and demands to or upon the Company in respect of the Securities of such series relating thereto and this Indenture may be served. If Securities of a series
are issuable as Bearer Securities, the Company shall maintain, subject to any laws or regulations applicable thereto, an Office or Agency in a Place of Payment for such series which is located outside the United States where Securities of such
series and any Coupons appertaining thereto may be presented and surrendered for payment; provided, however, that if the Securities of such series are listed on The Stock Exchange of the United Kingdom and the Republic of Ireland or the Luxembourg
Stock 

  
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Exchange or any other stock exchange located outside the United States and such stock exchange shall so require, the Company shall maintain a Paying Agent in London, Luxembourg or any other
required city located outside the United States, as the case may be, so long as the Securities of such series are listed on such exchange. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of
such Office or Agency. If at any time the Company shall fail to maintain any such required Office or Agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at
the Corporate Trust Office of the Trustee, except that Bearer Securities of such series and any Coupons appertaining thereto may be presented and surrendered for payment at the place specified for the purpose with respect to such Securities as
provided in or pursuant to this Indenture, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 Except as otherwise provided in or pursuant to this Indenture, no payment of principal, premium, interest or Additional Amounts with respect to Bearer Securities shall be made at any Office or Agency in
the United States or by check mailed to any address in the United States or by transfer to an account maintained with a bank located in the United States; provided, however, if amounts owing with respect to any Bearer Securities shall be payable in
Dollars, payment of principal of, any premium or interest on and any Additional Amounts with respect to any such Security may be made at the Corporate Trust Office of the Trustee or any Office or Agency designated by the Company, if (but only if)
payment of the full amount of such principal, premium, interest or Additional Amounts at all offices outside the United States maintained for such purpose by the Company in accordance with this Indenture is illegal or effectively precluded by
exchange controls or other similar restrictions. 
 The Company may also from time to time designate one or more other Offices
or Agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner
relieve the Company of its obligation to maintain an Office or Agency in each Place of Payment for Securities of any series for such purposes. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of
any change in the location of any such other Office or Agency. 
 Section 10.3 Money for Securities Payments to Be Held in
Trust. 
 If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it shall,
on or before each due date of the principal of, any premium or interest on or Additional Amounts with respect to any of the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the currency
or currencies, currency unit or units or composite currency or currencies in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.1 for the Securities of such series) sufficient to pay the
principal or any premium, interest or Additional Amounts so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and shall promptly notify the Trustee of its action or failure so to act. 

Whenever the Company shall have one or more Paying Agents for any series of Securities, it shall, on or prior to each due date of the
principal of, any premium or interest on or 

  
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any Additional Amounts with respect to any Securities of such series, deposit with any Paying Agent a sum (in the currency or currencies, currency unit or units or composite currency or
currencies described in the preceding paragraph) sufficient to pay the principal or any premium, interest or Additional Amounts so becoming due, such sum to be held in trust for the benefit of the Persons entitled thereto, and (unless such Paying
Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 
 The Company shall
cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section that such Paying Agent
shall: 
 (1) hold all sums held by it for the payment of the principal of, any premium or interest on or any
Additional Amounts with respect to Securities of such series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as provided in or pursuant to this Indenture; 

(2) give the Trustee notice of any default by the Company (or any other obligor upon the Securities of such series) in
the making of any payment of principal, any premium or interest on or any Additional Amounts with respect to the Securities of such series; and 
 (3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 

The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay,
or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such sums. 
 Except as otherwise provided herein or pursuant hereto, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, any premium or
interest on or any Additional Amounts with respect to any Security of any series or any Coupon appertaining thereto and remaining unclaimed for two years after such principal or any such premium or interest or any such Additional Amounts shall have
become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security or any Coupon appertaining thereto shall thereafter, as an unsecured
general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however,
that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized Newspaper in each Place of Payment for such series or to be mailed to Holders of
Registered Securities of such series, or both, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such 

  
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publication or mailing nor shall it be later than two years after such principal and any premium or interest or Additional Amounts shall have become due and payable, any unclaimed balance of such
money then remaining will be repaid to the Company. Anything in this Section 10.3 to the contrary notwithstanding, in the absence of a written request from the Company to return unclaimed funds to the Company, the Trustee shall from time to
time deliver all unclaimed funds to or as directed by applicable escheat authorities, as determined by the Trustee in its sole discretion, in accordance with the customary practices and procedures of the Trustee. Any unclaimed funds held by the
Trustee pursuant to this Section shall be held uninvested and without any liability for interest. 
 Section 10.4 Additional
Amounts. 
 If any Securities of a series provide for the payment of Additional Amounts, the Company agrees to pay to the
Holder of any such Security or any Coupon appertaining thereto Additional Amounts as provided in or pursuant to this Indenture or such Securities. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of or any
premium or interest on, or in respect of, any Security of any series or any Coupon or the net proceeds received on the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment of Additional
Amounts provided by the terms of such series established hereby or pursuant hereto to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to such terms, and express mention of the payment of
Additional Amounts (if applicable) in any provision hereof shall not be construed as excluding the payment of Additional Amounts in those provisions hereof where such express mention is not made. 

Except as otherwise provided in or pursuant to this Indenture or the Securities of the applicable series, if the Securities of a series
provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment Date with respect to such series of Securities (or if the Securities of such series shall not bear interest prior to Maturity, the first day on which
a payment of principal is made), and at least 10 days prior to each date of payment of principal or interest if there has been any change with respect to the matters set forth in the below-mentioned Officer’s Certificate, the Company shall
furnish to the Trustee and the principal Paying Agent or Paying Agents, if other than the Trustee, an Officer’s Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and premium, if any,
or interest on the Securities of such series shall be made to Holders of Securities of such series or the Coupons appertaining thereto who are United States Aliens without withholding for or on account of any tax, assessment or other governmental
charge described in the Securities of such series. If any such withholding shall be required, then such Officer’s Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of Securities or
Coupons, and the Company agrees to pay to the Trustee or such Paying Agent the Additional Amounts required by the terms of such Securities. The Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against,
any loss, liability or expense reasonably incurred without negligence or bad faith on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officer’s Certificate furnished pursuant to this
Section. 

  
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 Section 10.5 Maintenance of Properties. 

The Company will cause all its properties used in the conduct of its business to be maintained and kept in good condition, repair and
working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business
carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section shall prevent the Company from discontinuing the operation and maintenance of any of its properties
if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Holders of the Securities. 

Section 10.6 [Intentionally Omitted]. 
 Section 10.7 Corporate Existence. 
 Subject to Article Eight, the Company
shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and that of each Restricted Subsidiary and their respective rights (charter and statutory) and franchises; provided, however,
that the foregoing shall not obligate the Company or any Restricted Subsidiary to preserve any such right or franchise if the Company or any Restricted Subsidiary shall determine that the preservation thereof is no longer desirable in the conduct of
its business or the business of such Subsidiary and that the loss thereof is not disadvantageous in any material respect to any Holder. 
 Section 10.8 Waiver of Certain Covenants. 
 The Company may omit in any
particular instance to comply with any term, provision or condition set forth in Section 10.7 with respect to the Securities of any series if before the time for such compliance the Holders of at least a majority in principal amount of the
Outstanding Securities of such series, by Act of such Holders, either shall waive such compliance in such instance or generally shall have waived compliance with such term, provision or condition, but no such waiver shall extend to or affect such
term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in
full force and effect. 
 Section 10.9 Company Statement as to Compliance; Notice of Certain Defaults. 

(1) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, a written statement
(which need not be contained in or accompanied by an Officer’s Certificate) signed by the principal executive officer, the principal financial officer or the principal accounting officer of the Company, stating that 

(a) a review of the activities of the Company during such year and of its performance under this Indenture has been made
under his or her supervision, and 

  
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 (b) to the best of his or her knowledge, based on such review, (i) the
Company has complied with all the conditions and covenants imposed on it under this Indenture throughout such year, or, if there has been a default in the fulfillment of any such condition or covenant, specifying each such default known to him or
her and the nature and status thereof, and (ii) no event has occurred and is continuing which is, or after notice or lapse of time or both would become, an Event of Default, or, if such an event has occurred and is continuing, specifying each
such event known to him and the nature and status thereof. 
 (2) The Company shall deliver to the Trustee,
within five days after the occurrence thereof, written notice of any Event of Default or any event which after notice or lapse of time or both would become an Event of Default. 

(3) The Trustee shall have no duty to monitor the Company’s compliance with the covenants contained in this Article
10. 
 Section 10.10 Calculation of Original Issue Discount. 

The Company shall file with the Trustee promptly at the end of each calendar year (i) a written notice specifying the amount, if
any, of original issue discount (including daily rates and accrual periods) accrued on Outstanding Securities as of the end of such year and (ii) such other specific information relating to such original issue discount as may then be relevant
under the Internal Revenue Code of 1986, as amended from time to time. 
 ARTICLE 11 

REDEMPTION OF SECURITIES 
 Section 11.1 Applicability of Article. 
 Redemption of Securities of any
series at the option of the Company as permitted or required by the terms of such Securities shall be made in accordance with the terms of such Securities and (except as otherwise provided herein or pursuant hereto) this Article. 

Section 11.2 Election to Redeem; Notice to Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by or pursuant to a Board Resolution. In case of any redemption at the election of the Company of (a) less than all of the
Securities of any series or (b) all of the Securities of any series, with the same issue date, interest rate or formula, Stated Maturity and other terms, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company
(unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed. 

Section 11.3 Selection by Trustee of Securities to Be Redeemed. 

If less than all of the Securities of any series with the same issue date, interest rate or formula, Stated Maturity and other terms are
to be redeemed, the particular Securities to be 

  
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redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee from the Outstanding Securities of such series not previously called for redemption, in compliance
with the requirements of the principal national securities exchange, if any, on which the Securities are listed or, if the Securities are not then listed on a national securities exchange, on a pro rata basis or by lot, or, by any other method as
the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of portions of the principal amount of Registered Securities of such series; provided, however, that no such partial redemption shall reduce the
portion of the principal amount of a Registered Security of such series not redeemed to less than the minimum denomination for a Security of such series established herein or pursuant hereto. 

The Trustee shall promptly notify the Company and the Security Registrar (if other than itself) in writing of the Securities selected for
redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed. 

For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall
relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal of such Securities which has been or is to be redeemed. 
 Unless otherwise specified in or pursuant to this Indenture or the Securities of any series, if any Security selected for partial redemption is converted into Common Stock or exchanged for other
securities in part before termination of the conversion or exchange right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption.
Securities which have been converted or exchanged during a selection of Securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection. 

Section 11.4 Notice of Redemption. 
 Notice of redemption shall be given in the manner provided in Section 1.6, not less than 30 nor more than 60 days prior to the Redemption Date, unless a shorter period is specified in the Securities
to be redeemed, to the Holders of Securities to be redeemed. Failure to give notice by mailing in the manner herein provided to the Holder of any Registered Securities designated for redemption as a whole or in part, or any defect in the notice to
any such Holder, shall not affect the validity of the proceedings for the redemption of any other Securities or portion thereof. 
 Any notice that is mailed to the Holder of any Registered Securities in the manner herein provided shall be conclusively presumed to have been duly given, whether or not such Holder receives the notice.

 All notices of redemption shall state: 

(1) the Redemption Date, 
 (2) the Redemption Price, 

  
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 (3) if less than all Outstanding Securities of any series are to be
redeemed, the identification (and, in the case of partial redemption, the principal amount) of the particular Security or Securities to be redeemed, 
 (4) in case any Security is to be redeemed in part only, the notice which relates to such Security shall state that on and after the Redemption Date, upon surrender of such Security, the Holder of such
Security will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed, 
 (5) that, on the Redemption Date, the Redemption Price shall become due and payable upon each such Security or portion thereof to be redeemed, and, if applicable, that interest thereon shall cease to
accrue on and after said date, 
 (6) the place or places where such Securities, together (in the case of Bearer
Securities) with all Coupons appertaining thereto, if any, maturing after the Redemption Date, are to be surrendered for payment of the Redemption Price and any accrued interest and Additional Amounts pertaining thereto, 

(7) that, unless otherwise specified in such notice, Bearer Securities of any series, if any, surrendered for redemption
must be accompanied by all Coupons maturing subsequent to the date fixed for redemption or the amount of any such missing Coupon or Coupons will be deducted from the Redemption Price, unless security or indemnity satisfactory to the Company, the
Trustee and any Paying Agent is furnished, 
 (8) if Bearer Securities of any series are to be redeemed and no
Registered Securities of such series are to be redeemed, and if such Bearer Securities may be exchanged for Registered Securities not subject to redemption on the Redemption Date pursuant to Section 3.5 or otherwise, the last date, as
determined by the Company, on which such exchanges may be made, 
 (9) in the case of Securities of any series
that are convertible into Common Stock or exchangeable for other securities, the conversion or exchange price or rate, the date or dates on which the right to convert or exchange the principal of the Securities of such series to be redeemed will
commence or terminate and the place or places where such Securities may be surrendered for conversion or exchange, and 
 (10) the CUSIP numbers or the Euroclear or the Clearstream Banking, societe anonyme reference numbers of such Securities, if any (or any other numbers used by a Depository to identify such Securities).

 A notice of redemption published as contemplated by Section 1.6 need not identify particular Registered Securities to be
redeemed. 
 Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or,
at the Company’s request, by the Trustee in the name and at the expense of the Company. 

  
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 Section 11.5 Deposit of Redemption Price. 

On or prior to any Redemption Date, the Company shall deposit, with respect to the Securities of any series called for redemption
pursuant to Section 11.4, with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 10.3) an amount of money in the applicable Currency sufficient to
pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date, unless otherwise specified pursuant to Section 3.1 or in the Securities of such series) any accrued interest on and Additional Amounts with
respect thereto, all such Securities or portions thereof which are to be redeemed on that date. 
 Section 11.6 Securities
Payable on Redemption Date. 
 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear
interest and the Coupons for such interest appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void. Upon surrender of any such Security for redemption in accordance with said notice, together with
all Coupons, if any, appertaining thereto maturing after the Redemption Date, such Security shall be paid by the Company at the Redemption Price, together with any accrued interest and Additional Amounts to the Redemption Date; provided, however,
that, except as otherwise provided in or pursuant to this Indenture or the Bearer Securities of such series, installments of interest on Bearer Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable only upon
presentation and surrender of Coupons for such interest (at an Office or Agency located outside the United States except as otherwise provided in Section 10.2), and provided further that, except as otherwise specified in or pursuant to this
Indenture or the Registered Securities of such series, installments of interest on Registered Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business on the Regular Record Dates therefor according to their terms and the provisions of Section 3.7. 
 If any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant Coupons maturing after the Redemption Date, such Security may be paid after deducting from the Redemption
Price an amount equal to the face amount of all such missing Coupons, or the surrender of such missing Coupon or Coupons may be waived by the Company and the Trustee if there be furnished to them such security or indemnity as they may require to
save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the Trustee or any Paying Agent any such missing Coupon in respect of which a deduction shall have been made from the Redemption Price,
such Holder shall be entitled to receive the amount so deducted; provided, however, that any interest or Additional Amounts represented by Coupons shall be payable only upon presentation and surrender of those Coupons at an Office or Agency for such
Security located outside of the United States except as otherwise Provided in Section 10.2. 

  
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 If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal and any premium, until paid, shall bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
 Section 11.7 Securities Redeemed in Part. 
 Any Registered Security which
is to be redeemed only in part shall be surrendered at any Office or Agency for such Security (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the
Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Registered Security or
Securities of the same series, containing identical terms and provisions, of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security
so surrendered. If a Security in global form is so surrendered, the Company shall execute, and the Trustee shall authenticate and deliver to the U.S. Depository or other Depository for such Security in global form as shall be specified in the
Company Order with respect thereto to the Trustee, without service charge, a new Security in global form in a denomination equal to and in exchange for the unredeemed portion of the principal of the Security in global form so surrendered.

 ARTICLE 12 
 [INTENTIONALLY OMITTED] 
 ARTICLE 13 

REPAYMENT AT THE OPTION OF HOLDERS 
 Section 13.1 Applicability of Article. 
 Securities of any series which are
repayable at the option of the Holders thereof before their Stated Maturity shall be repaid in accordance with the terms of the Securities of such series. The repayment of any principal amount of Securities pursuant to such option of the Holder to
require repayment of Securities before their Stated Maturity, for purposes of Section 3.9, shall not operate as a payment, redemption or satisfaction of the indebtedness represented by such Securities unless and until the Company, at its
option, shall deliver or surrender the same to the Trustee with a directive that such Securities be cancelled. Notwithstanding anything to the contrary contained in this Section 13.1, in connection with any repayment of Securities, the Company
may arrange for the purchase of any Securities by an agreement with one or more investment bankers or other purchasers to purchase such Securities by paying to the Holders of such Securities on or before the close of business on the repayment date
an amount not less than the repayment price payable by the Company on repayment of such Securities, and the obligation of the Company to pay the repayment price of such Securities shall be satisfied and discharged to the extent such payment is so
paid by such purchasers. 

  
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 ARTICLE 14 
 [INTENTIONALLY OMITTED] 
 ARTICLE 15 

MEETINGS OF HOLDERS OF SECURITIES 
 Section 15.1 Purposes for Which Meetings May Be Called. 
 A meeting of
Holders of Securities of any series may be called at any time and from time to time pursuant to this Article to make, give or take any request, demand, authorization, direction, notice, consent, waiver or other Act provided by this Indenture to be
made, given or taken by Holders of Securities of such series. 
 Section 15.2 Call, Notice and Place of Meetings.

 (1) The Trustee may at any time call a meeting of Holders of Securities of any series for any purpose
specified in Section 15.1, to be held at such time and at such place in the Borough of Manhattan, The City of New York, or, if Securities of such series have been issued in whole or in part as Bearer Securities, in London or in such place
outside the United States as the Trustee shall determine. Notice of every meeting of Holders of Securities of any series, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting,
shall be given, in the manner provided in Section 1.6, not less than 21 nor more than 180 days prior to the date fixed for the meeting. 
 (2) In case at any time the Company (by or pursuant to a Board Resolution) or the Holders of at least 10% in principal amount of the Outstanding Securities of any series shall have requested the Trustee
to call a meeting of the Holders of Securities of such series for any purpose specified in Section 15.1, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have mailed
notice of or made the first publication of the notice of such meeting within 21 days after receipt of such request (whichever shall be required pursuant to Section 1.6) or shall not thereafter proceed to cause the meeting to be held as provided
herein, then the Company or the Holders of Securities of such series in the amount above specified, as the case may be, may determine the time and the place in the Borough of Manhattan, The City of New York, or, if Securities of such series are to
be issued as Bearer Securities, in London for such meeting and may call such meeting for such purposes by giving notice thereof as provided in clause (1) of this Section. 
 Section 15.3 Persons Entitled to Vote at Meetings. 
 To be entitled to vote
at any meeting of Holders of Securities of any series, a Person shall be (1) a Holder of one or more Outstanding Securities of such series, or (2) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or
more Outstanding Securities of such series by such Holder or Holders. The only Persons who shall be entitled to be 

  
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present or to speak at any meeting of Holders of Securities of any series shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its
counsel and any representatives of the Company and its counsel. 
 Section 15.4 Quorum; Action. 

The Persons entitled to vote a majority in principal amount of the Outstanding Securities of a series shall constitute a quorum for any
meeting of Holders of Securities of such series. In the absence of a quorum within 30 minutes after the time appointed for any such meeting, the meeting shall, if convened at the request of Holders of Securities of such series, be dissolved. In any
other case the meeting may be adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any reconvened meeting, such reconvened meeting may be
further adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such reconvened meeting. Notice of the reconvening of any adjourned meeting shall be given as provided in
Section 15.2(1), except that such notice need be given only once not less than five days prior to the date on which the meeting is scheduled to be reconvened. Notice of the reconvening of an adjourned meeting shall state expressly the
percentage, as provided above, of the principal amount of the Outstanding Securities of such series which shall constitute a quorum. 
 Except as limited by the proviso to Section 9.2, any resolution presented to a meeting or adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted only by the
affirmative vote of the Holders of a majority in principal amount of the Outstanding Securities of that series; provided, however, that, except as limited by the proviso to Section 9.2, any resolution with respect to any request, demand,
authorization, direction, notice, consent, waiver or other Act which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage, which is less than a majority, in principal amount of the Outstanding
Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of such specified percentage in principal amount of the Outstanding
Securities of such series. 
 Any resolution passed or decision taken at any meeting of Holders of Securities of any series duly
held in accordance with this Section shall be binding on all the Holders of Securities of such series and the Coupons appertaining thereto, whether or not such Holders were present or represented at the meeting. 

 

	 	Section	15.5 Determination of Voting Rights; Conduct and Adjournment of Meetings. 

(1) Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may
deem advisable for any meeting of Holders of Securities of such series in regard to proof of the holding of Securities of such series and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the
submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise permitted or required by any such
regulations, the 

  
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holding of Securities shall be proved in the manner specified in Section 1.4 and the appointment of any proxy shall be proved in the manner specified in Section 1.4 or by having the
signature of the person executing the proxy witnessed or guaranteed by any trust company, bank or banker authorized by Section 1.4 to certify to the holding of Bearer Securities. Such regulations may provide that written instruments appointing
proxies, regular on their face, may be presumed valid and genuine without the proof specified in Section 1.4 or other proof. 
 (2) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders of Securities as provided in
Section 15.2(2), in which case the Company or the Holders of Securities of the series calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting
shall be elected by vote of the Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the meeting. 

(3) At any meeting, each Holder of a Security of such series or proxy shall be entitled to one vote for each $1,000
principal amount of Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be
not Outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of a Security of such series or proxy. 
 (4) Any meeting of Holders of Securities of any series duly called pursuant to Section 15.2 at which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority in
principal amount of the Outstanding Securities of such series represented at the meeting; and the meeting may be held as so adjourned without further notice. 
 Section 15.6 Counting Votes and Recording Action of Meetings. 
 The vote
upon any resolution submitted to any meeting of Holders of Securities of any series shall be by written ballots on which shall be subscribed the signatures of the Holders of Securities of such series or of their representatives by proxy and the
principal amounts and serial numbers of the Outstanding Securities of such series held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against
any resolution and who shall make and file with the secretary of the meeting their verified written reports in triplicate of all votes cast at the meeting. A record, at least in triplicate, of the proceedings of each meeting of Holders of Securities
of any series shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of
the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section 15.2 and, if applicable, Section 15.4. Each copy shall be signed and verified by the affidavits of the permanent
chairman and secretary of the meeting and one such copy shall be delivered to the Company, and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and
verified shall be conclusive evidence of the matters therein stated. 

  
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 Section 15.7 Action Without Meeting. 

In lieu of a vote of Holders of a meeting as herein above contemplated in this Article, any request, demand, authorization, direction,
notice, consent, waiver or other action made, may be given or taken by Holders by written instruments as provided in Section 1.4. 
 *     *     * 

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

			
	SNYDER’S-LANCE, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	[                    ]
	as Trustee

  

			
	By:	 	 
	Name:	 	
	Title:	 	

  
 77

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