Document:

Indenture, dated as of August 1, 1993

 Exhibit 10.4 

 
  

 
 AETNA LIFE AND CASUALTY COMPANY

 TO 

STATE STREET BANK AND TRUST 
 COMPANY OF CONNECTICUT, NATIONAL ASSOCIATION, 

                    
TRUSTEE 
  
  

INDENTURE 
 Dated
as of August 1, 1993 
  
  

Senior Debt Securities 
  

 
  

 AETNA LIFE AND CASUALTY COMPANY 

Reconciliation and tie between certain Sections of 
 this Indenture, dated as of August 1, 1993, and 
 Sections 310 through 318,
inclusive, of 
 the Trust Indenture Act of 1939: 

 

					
	 Trust Indenture

Act Section
	 	 	  	 Indenture

Section

			
	Section 310 (a) (1)	 		  	609
	(a) (2)	 		  	609
	(a) (3)	 		  	Not Applicable
	(a) (4)	 		  	Not Applicable
	(b)	 		  	608
		 		  	610
	Section 311(a)	 		  	613
	(b)	 		  	613
	Section 312 (a)	 		  	701
		 		  	702 (a)
	(b)	 		  	702(b)
	(c)	 		  	702 (c)
	Section 313 (a)	 		  	703 (a)
	(b)	 		  	703 (a)
	(c)	 		  	703 (a)
	(d)	 		  	703 (b)
	Section 314 (a)	 		  	704
	(a) (4)	 		  	101
		 		  	1004
	(b)	 		  	Not Applicable
	(c) (1)	 		  	102
	(c) (2)	 		  	102
	(c) (3)	 		  	Not Applicable
	(d)	 		  	Not Applicable
	(e)	 		  	102
	Section 315 (a)	 		  	601
	(b)	 		  	602
	(c)	 		  	601
	(d)	 		  	601
	(e)	 		  	514
	Section 316 (a)	 		  	101
	(a) (1) (A)	 		  	502
		 		  	512
	(a) (1) (B)	 		  	513
	(a) (2)	 		  	Not Applicable
	(b)	 		  	508
	(c)	 		  	104(c)
	Section 317(a)(l)	 		  	503

					
	 Trust Indenture

Act Section
	 	 	  	 Indenture

Section

	 (a) (2)
	 		  	504
	 (b)
	 		  	1003
	 Section 318(a)
	 		  	107

  

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

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 PARTIES
	  	 	1	  
	 RECITALS OF THE COMPANY
	  	 	1	  
	
	ARTICLE ONE	  
	
	Definitions and Other Provisions of General Application	  
			
	 Section 101.
	 	 Definitions
	  	 	1	  
	 Section 102.
	 	 Compliance Certificates and Opinions
	  	 	7	  
	 Section 103.
	 	 Form of Documents Delivered to Trustee
	  	 	8	  
	 Section 104.
	 	 Acts of Holders; Record Dates
	  	 	8	  
	 Section 105.
	 	 Notices, Etc., to Trustee and Company
	  	 	10	  
	 Section 106.
	 	 Notice to Holders; waiver
	  	 	10	  
	 Section 107.
	 	 Conflict with Trust Indenture Act
	  	 	10	  
	 Section 108.
	 	 Effect of Headings and Table of Contents
	  	 	11	  
	 Section 109.
	 	 Successors and Assigns
	  	 	11	  
	 Section 110.
	 	 Separability Clause
	  	 	11	  
	 Section 111.
	 	 Benefits of Indenture
	  	 	11	  
	 Section 112.
	 	 Governing Law
	  	 	11	  
	 Section 113.
	 	 Legal Holidays
	  	 	11	  
	 Section 114.
	 	 Personal Immunity from Liability for Incorporators, Stockholders, Etc.
	  	 	11	  
	
	ARTICLE TWO	  
	
	SECURITY FORMS	  
			
	 Section 201.
	 	 Forms Generally
	  	 	12	  
	 Section 202.
	 	 Form of Face of Security
	  	 	12	  
	 Section 203.
	 	 Form of Reverse of Security
	  	 	14	  
	 Section 204.
	 	 Form of Legend for Global Securities
	  	 	18	  
	 Section 205.
	 	 Form of Trustee’s Certificate of Authentication
	  	 	19	  
	 Section 206.
	 	 Form of Conversion Notice
	  	 	19	  
	
	ARTICLE THREE	  
	
	THE SECURITIES	  
			
	 Section 301.
	 	 Amount Unlimited; Issuable in Series
	  	 	21	  
	 Section 302.
	 	 Denominations
	  	 	23	  
	 Section 303.
	 	 Execution, Authentication, Delivery and Dating
	  	 	23	  

 

	NOTE:	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture 

  
 i 

							
	 	 	 	  	Page	 
			
	 Section 304.
	 	 Temporary Securities
	  	 	25	  
	 Section 305.
	 	 Registration, Registration of Transfer and Exchange
	  	 	25	  
	 Section 306.
	 	 Mutilated, Destroyed, Lost and Stolen Securities
	  	 	27	  
	 Section 307.
	 	 Payment of Interest; Interest Rights Preserved
	  	 	27	  
	 Section 308.
	 	 Persons Deemed Owners
	  	 	29	  
	 Section 309.
	 	 Cancellation
	  	 	29	  
	 Section 310.
	 	 Computation of Interest
	  	 	29	  
	
	ARTICLE FOUR	  
	
	SATISFACTION AND DISCHARGE	  
			
	 Section 401.
	 	 Satisfaction and Discharge of Indenture
	  	 	30	  
	 Section 402.
	 	 Application of Trust Fund
	  	 	31	  
	
	ARTICLE FIVE	  
	
	REMEDIES	  
			
	 Section 501.
	 	 Events of Default
	  	 	31	  
	 Section 502.
	 	 Acceleration of Maturity; Rescission and Annulment
	  	 	33	  
	 Section 503.
	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	35	  
	 Section 504.
	 	 Trustee May File Proofs of Claim
	  	 	35	  
	 Section 505.
	 	 Trustee May Enforce Claims Without Possession of Securities
	  	 	36	  
	 Section 506.
	 	 Application of Money Collected
	  	 	36	  
	 Section 507.
	 	 Limitation on Suits
	  	 	36	  
	 Section 508.
	 	 Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert
	  	 	37	  
	 Section 509.
	 	 Restoration of Rights and Remedies
	  	 	37	  
	 Section 510.
	 	 Rights and Remedies Cumulative
	  	 	38	  
	 Section 511.
	 	 Delay or Omission Not Waiver
	  	 	38	  
	 Section 512.
	 	 Control by Holders
	  	 	38	  
	 Section 513.
	 	 Waiver of Past Defaults
	  	 	39	  
	 Section 514.
	 	 Undertaking for Costs
	  	 	39	  
	
	ARTICLE SIX	  
	
	THE TRUSTEE	  
			
	 Section 601.
	 	 Certain Duties and Responsibilities
	  	 	39	  
	 Section 602.
	 	 Notice of Defaults
	  	 	39	  
	 Section 603.
	 	 Certain Rights of Trustee
	  	 	40	  
	 Section 604.
	 	 Not Responsible for Recitals or Issuance of Securities
	  	 	41	  

  

 

	NOTE:	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture 

  
 ii 

							
	 	 	 	  	Page	 
			
	 Section 605.
	 	 May Hold Securities
	  	 	41	  
	 Section 606.
	 	 Money Held in Trust
	  	 	41	  
	 Section 607.
	 	 Compensation and Reimbursement
	  	 	41	  
	 Section 608.
	 	 Disqualification; Conflicting Interests
	  	 	42	  
	 Section 609.
	 	 Corporate Trustee Required; Eligibility
	  	 	42	  
	 Section 610.
	 	 Resignation and Removal; Appointment of Successor
	  	 	42	  
	 Section 611.
	 	 Acceptance of Appointment by Successor
	  	 	43	  
	 Section 612.
	 	 Merger, Conversion, Consolidation or Succession to Business
	  	 	44	  
	 Section 613.
	 	 Preferential Collection of Claims Against Company
	  	 	45	  
	 Section 614.
	 	 Appointment of Authenticating Agent
	  	 	45	  
	
	ARTICLE SEVEN	  
	
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	  
			
	 Section 701.
	 	 Company to Furnish Trustee Names and Addresses of Holders
	  	 	46	  
	 Section 702.
	 	 Preservation of Information; Communications to Holders
	  	 	47	  
	 Section 703.
	 	 Reports by Trustee
	  	 	47	  
	 Section 704.
	 	 Reports by Company
	  	 	47	  
	
	ARTICLE EIGHT	  
	
	CONSOLIDATION, MERGER, OR SALE OF ASSETS	  
			
	 Section 801.
	 	 Company May Consolidate, Etc., Only on Certain Terms
	  	 	48	  
	 Section 802.
	 	 Successor Substituted
	  	 	48	  
	
	ARTICLE NINE	  
	
	SUPPLEMENTAL INDENTURES	  
			
	 Section 901.
	 	 Supplemental Indentures Without Consent of Holders
	  	 	49	  
	 Section 902.
	 	 Supplemental Indentures with Consent of Holders
	  	 	50	  
	 Section 903.
	 	 Execution of Supplemental Indentures
	  	 	51	  
	 Section 904.
	 	 Effect of Supplemental Indentures
	  	 	51	  
	 Section 905.
	 	 Conformity with Trust Indenture Act
	  	 	51	  
	 Section 906.
	 	 Reference in Securities to Supplemental Indentures
	  	 	51	  
	 Section 907.
	 	 Waiver of Compliance by Holders
	  	 	52	  

  

 

	NOTE:	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture 

  
 iii

							
	 	 	 	  	Page	 
	
	ARTICLE TEN	  
	
	COVENANTS	  
			
	 Section 1001.
	 	 Payment of Principal, Premium and Interest
	  	 	52	  
	 Section 1002.
	 	 Maintenance of Office or Agency
	  	 	52	  
	 Section 1003.
	 	 Money for Securities Payments to Be Held in Trust
	  	 	53	  
	 Section 1004.
	 	 Statement by Officers as to Default
	  	 	54	  
	 Section 1005.
	 	 Limitations on Liens on Common Stock of Principal Insurance Subsidiaries
	  	 	54	  
	
	ARTICLE ELEVEN	  
	
	REDEMPTION OF SECURITIES	  
			
	 Section 1101.
	 	 Applicability of Article
	  	 	54	  
	 Section 1102.
	 	 Election to Redeem; Notice to Trustee
	  	 	54	  
	 Section 1103.
	 	 Selection by Trustee of Securities to Be Redeemed
	  	 	54	  
	 Section 1104.
	 	 Notice of Redemption
	  	 	55	  
	 Section 1105.
	 	 Deposit of Redemption Price
	  	 	56	  
	 Section 1106.
	 	 Securities Payable on Redemption Date
	  	 	56	  
	 Section 1107.
	 	 Securities Redeemed in Part
	  	 	57	  
	
	ARTICLE TWELVE	  
	
	CONVERSION OF SECURITIES	  
			
	 Section 1201.
	 	 Applicability of Article
	  	 	57	  
	 Section 1202.
	 	 Exercise of Conversion Privilege
	  	 	57	  
	 Section 1203.
	 	 No Fractional Shares
	  	 	58	  
	 Section 1204.
	 	 Adjustment of Conversion Price
	  	 	59	  
	 Section 1205.
	 	 Notice of Certain Corporate Actions
	  	 	59	  
	 Section 1206.
	 	 Reservation of Shares of Common Stock
	  	 	60	  
	 Section 1207.
	 	 Payment of Certain Taxes Upon Conversion
	  	 	60	  
	 Section 1208.
	 	 Nonassessability
	  	 	60	  
	 Section 1209.
	 	 Effect of Consolidation or Merger on Conversion Privilege
	  	 	60	  
	 Section 1210.
	 	 Duties of Trustee Regarding Conversion
	  	 	61	  
	 Section 1211.
	 	 Repayment of Certain Funds Upon Conversion
	  	 	62	  
	
	ARTICLE THIRTEEN	  
	
	DEFEASANCE AND COVENANT DEFEASANCE	  
			
	 Section 1301.
	 	 Company’s Option to Effect Defeasance or Covenant Defeasance
	  	 	62	  
	 Section 1302.
	 	 Defeasance and Discharge
	  	 	62	  
	 Section 1303.
	 	 Conditions to Defeasance or Covenant Defeasance
	  	 	63	  
	 Section 1304.
	 	 Deposited Money and U.S. Government Obligations or Foreign Government Obligations to be Held In Trust; Other Miscellaneous
Provisions
	  	 	65	  
	 Section 1305.
	 	 Reinstatement
	  	 	66	  

  

 

	NOTE:	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture 

  
 iv 

							
	 	 	 	  	Page	 
	
	ARTICLE FOURTEEN	  
	
	SINKING FUNDS	  
			
	 Section 1401.
	 	 Applicability of Article
	  	 	66	  
	 Section 1402.
	 	 Satisfaction of Sinking Fund Payments with Securities
	  	 	66	  
	 Section 1403.
	 	 Redemption of Securities for Sinking Fund
	  	 	67	  

  
  

	NOTE:	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture 

  
 v 

 INDENTURE, dated as of August 1, 1993, between AETNA LIFE AND CASUALTY COMPANY, a
Connecticut insurance corporation (herein called the “Company”), having its principal office at 151 Farmington Avenue, Hartford, Connecticut 06156, and STATE STREET BANK AND TRUST COMPANY OF CONNECTICUT, NATIONAL ASSOCIATION, a national
association duly organized and existing under the laws of the United States of America, as Trustee (herein called the “Trustee”). 
 RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and
delivery of this Indenture to provide for the issuance from time to time of its debentures, notes or other evidences of indebtedness (herein called the “Securities”), to be issued in one or more series as in this Indenture provided.

 All things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done.

 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of the Securities or of
series thereof, as follows: 
 ARTICLE ONE 
 Definitions and Other Provisions of General Application 
  

	Section 101.	Definitions. 

 For all purposes
of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
 (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 or the Securities Act of 1933, as amended, 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, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting
principles as are generally accepted at the date of such computation; 
 (4) the words “Article” and
“section” refer to an Article and Section, respectively, of this Indenture; and 
 (5) the words
“herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 

 “Act”, when used with respect to any Holder, has the meaning specified in
Section 104. 
 “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 614 to
act on behalf of the Trustee to authenticate Securities of one or more series. 
 “Board of Directors” means either
(i) the board of directors of the Company, the executive committee of such board of directors or any other duly authorized committee of directors and/or officers appointed by such board of directors or executive committee, or (ii) one or
more duly authorized officers of the Company to whom the board of directors of the Company or a committee thereof has delegated the authority to act with respect to the matters contemplated by this Indenture. 

“Board Resolution” means (i) a copy of a resolution certified by the Corporate Secretary or an Assistant Corporate
Secretary of the Company to have been duly adopted by the Board of Directors or a committee thereof and to be in full force and effect on the date of such certification or (ii} a certificate signed by the authorized officer or officers of the
Company to whom the board of directors of the Company or a committee thereof has delegated its authority as described in the definition of Board of Directors), and in each case, delivered to the Trustee. 

“Business Day”, when used with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday
which is not a day on which banking institutions in that Place of Payment are authorized or obligated by law or executive order to close. 
 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such
Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 
 “Common Stock” means, with respect to the Company, its common capital stock, without par value, and with respect to any Principal Insurance Subsidiary, stock of any class, however designated,
except stock which is non-participating beyond fixed dividend and liquidation preferences and the holders of which have either no voting rights or limited voting rights entitling them, only in the case of certain contingencies, to elect less than a
majority of the directors (or persons performing similar functions) of such Principal Insurance Subsidiary, and shall include securities of any class, however designated, which are convertible into such Common Stock. 

“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. 

  
 2 

 “Company Request” or “Company Order” means a written request or order
signed in the name of the Company by (i) any two of the following individuals: the Chairman, a Vice Chairman, the President or a Vice President, or (ii) by one of the foregoing individuals and by any other Vice President, the Treasurer, an
Assistant Treasurer, the Corporate Secretary or an Assistant Corporate Secretary or any other individual authorized by the Board of Directors for such purpose, and delivered to the Trustee. 

“Corporate Trust Office” means the principal office of the Trustee located at 750 Main Street, Suite 1114, Hartford,
Connecticut 06103 at which at any particular time its corporate trust business shall be administered. 
 “corporation”
means a corporation, association, company, joint-stock company or business trust. 
 “Covenant Defeasance” has the
meaning specified in Section 1303. 
 “Defaulted Interest” has the meaning specified in Section 307.

 “Defeasance” has the meaning specified in Section 1302. 

“Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global
Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 301. 
 “Event of Default” has the meaning specified in Section 501. 

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

 “Floating or Adjustable Rate Provision” means a formula or provision, specified in or pursuant to a Board
Resolution or an indenture supplemental hereto, providing for the determination, whether pursuant to objective factors or pursuant to the sole discretion of any Person (including the Company), and periodic adjustment of the interest rate borne by a
Floating or Adjustable Rate Security. 
 “Floating or Adjustable Rate Security” means any Security which provides for
interest thereon at a periodic rate that may vary from time to time over the term thereof in accordance with a Floating or Adjustable Rate Provision. 
 “Foreign Government Obligations” has the meaning specified in Section 1304. 
 “Global Security” means a Security that evidences all or part of the Securities of any series and is authenticated and delivered to, and registered in the name of, the Depositary for such
Securities or a nominee thereof. 
 “Holder” means a Person in whose name a Security is registered in the Security
Register. 

  
 3 

 “Indenture” means this instrument as originally executed or as it may from time
to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument, and any such supplemental indenture, the provisions of the
Trust Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as
contemplated by Section 301. 
 “interest”, when used with respect to an Original Issue Discount Security which
by its terms bears interest only after Maturity, means interest payable after Maturity. 
 “Interest Payment Date”,
when used with respect to any Security, means the Stated Maturity of an instalment of interest on such Security. 

“Maturity”, when used with respect to any Security, means the date on which the principal of such Security or an instalment of
principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
 “Non-Recourse Debt” means any indebtedness for money borrowed as to which the liability of the Company or its Principal Insurance Subsidiaries is limited solely to specific assets. 

“Notice of Default” means a written notice of the kind specified in Section 501(4). 

“Officers’ Certificate” means a certificate signed by (i) any two of the following individuals: the Chairman, a Vice
Chairman, the President or a Vice President, or (ii) by one of the foregoing individuals and by any other Vice President, the Treasurer, an Assistant Treasurer, the Corporate Secretary or an Assistant Corporate Secretary, of the Company, or any
other individual authorized by the Board of Directors for such purpose, and delivered to the Trustee. One of the officers signing an Officers’ Certificate given pursuant to Section 1004 shall be the principal executive, financial or
accounting officer of the Company. 
 “Opinion of Counsel” means a written opinion of counsel, who may be an employee
of or counsel to the Company, or who may be other counsel reasonably satisfactory to the Trustee. 
 “Original Issue
Discount Security” means any Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 

“Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
 (i) Securities theretofore cancelled by the Trustee
or delivered to the Trustee for cancellation; 

  
 4 

 (ii) Securities for whose payment or redemption money in the necessary
amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities;
provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 

(iii) Securities as to which Defeasance has been effected pursuant to Section 1302; and 

(iv) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities
have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in
whose hands such Securities are valid obligations of the Company; 
 provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, (A) the principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding
shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon acceleration of the Maturity thereof pursuant to Section 502, (B) the principal amount of a Security denominated in one or
more foreign currencies or currency units shall be the U.S. dollar equivalent, determined in the manner provided as contemplated by Section 301 on the date of original issuance of such Security, of the principal amount (or, in the case of an
Original Issue Discount Security, the U.S. dollar equivalent on the date of original issuance of such Security of the amount determined as provided in {A) above) of such Security, and (C) Securities owned by the Company or any other obligor
upon the Securities or any Subsidiary of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand,
authorization, direction, notice, consent or waiver, only Securities which the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes
to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Subsidiary of the Company or of such other obligor.

 “Paying Agent” means any Person authorized by the Company to pay the principal of or any premium or interest on any
Securities on behalf of the Company. 
 “Person” means any individual, corporation, partnership, joint venture, trust,
unincorporated organization or government or any agency or political subdivision thereof. 
 “Place of Payment”, when
used with respect to the Securities of any series, means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by Section 301. 

  
 5 

 “Predecessor Security” of any particular Security means every previous Security
evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated,
destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Principal Insurance Subsidiary” means only Aetna Life Insurance Company and The Aetna Casualty and Surety Company, and any other Subsidiary of the Company which shall hereafter succeed by
merger or otherwise to a major part of the business of one or more of the Principal Insurance Subsidiaries. The decision as to whether a Subsidiary shall have succeeded to a major part of the business of one or more of the Principal Insurance
Subsidiaries shall be made in good faith by the board of directors of the Company or a committee thereof by the adoption of a resolution so stating, and the Company shall within 30 days of the date of the adoption of such resolution deliver to the
Trustee a copy thereof, certified by the Corporate Secretary or an Assistant Corporate Secretary of the Company. 

“Redemption Date”, when used with respect to any Security to be redeemed, means the date fixed for such redemption by or
pursuant to this Indenture. 
 “Redemption Price”, when used with respect to any Security to be redeemed, means the
price at which it is to be redeemed pursuant to this Indenture. 
 “Regular Record Date” for the interest payable on
any Interest Payment Date on the Securities of any series means the date specified for that purpose as contemplated by Section 301. 
 “Responsible Officer”, when used with respect to the Trustee, means the chairman or any vice-chairman of the board of directors, the chairman or any vice-chairman of the executive committee of
the board of directors, the chairman of the trust committee, the president, any vice president, the secretary, any assistant secretary, the treasurer, any assistant treasurer, the cashier, any assistant cashier, any trust officer or assistant trust
officer, the controller or any assistant controller or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust
matter, any other officer to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject. 
 “Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 

“Security Register” and “Security Registrar” have the respective meanings specified in Section 305. 

“Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 307.

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

  
 6 

 “Subsidiary” means a corporation more than 50% of the voting power of which is
controlled, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting power” means the power to vote for the election of
directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 

“Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person,
“Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of which this instrument was executed; provided, however, that in the event the Trust Indenture Act of 1939
is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended. 
 “U.S. Government Obligations” has the meaning specified in Section 1304. 
 “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”. 
  

	Section 102.	Compliance Certificates and Opinions. 

 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 such certificates and opinions as may be
required under the Trust Indenture Act. Each such certificate or opinion shall be given in the form of an Officers’ Certificate, if to be given by an officer of the Company, or an Opinion of Counsel, if to be given by counsel, and shall comply
with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture. 
 Every certificate or
opinion with respect to compliance with a condition or covenant provided for in this Indenture (excluding certificates provided for in Section 1004) shall include 

(1) a statement that each individual signing such certificate or opinion has read such covenant or condition 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; 

  
 7 

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

(4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with.

  

	Section 103.	Form of Documents Delivered to Trustee. 

 In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion
of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may
certify or give an opinion as to such matters in one or several documents. 
 Any certificate or opinion of an officer of the
Company may be based, insofar as it relates to legal matters. upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or
representations with respect to the matters upon which its certificate or opinion is based are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or
representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the
certificate or opinion or representations with respect to such matters are erroneous. 
 Any certificate, statement or opinion
of an officer of the Company or of counsel may be based, insofar as it relates to accounting matters, upon a certificate, opinion or representation by an accountant or firm of accountants in the employ of the Company, unless such officer or counsel,
as the case may be, knows, or in the exercise of reasonable care should know, that the certificate, opinion or representation with respect to such accounting matters upon which its certificate, statement or opinion may be based is erroneous.

 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements,
opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
  

	Section 104.	Acts of Holders; Record Dates. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by 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 agent duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are
herein 

  
 8 

 
sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be
sufficient for any purpose of this Indenture and (subject to Section 601) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of
such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him or her the execution thereof. Where such
execution is by a signer acting in a capacity other than such signer’s individual capacity, such certificate or affidavit shall also constitute sufficient proof of such signer’s authority. The fact and date of the execution of any such
instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 
 (c) The Company may, in the circumstances permitted by the Trust Indenture Act, fix any day as the record date for the purpose of determining the Holders of Outstanding Securities of any series entitled
to give or take any request, demand, authorization, direction, notice, consent, waiver or other action, or to vote on any action, authorized or permitted to be given or taken by Holders of Outstanding Securities of such series. If not set by the
Company prior to the first solicitation of a Holder of Securities of such series made by any Person in respect of any such action, or, in the case of any such vote, prior to such vote, the record date for any such action or vote shall be the 30th
day (or, if later, the date of the most recent list of Holders required to be provided pursuant to Section 701) prior to such first solicitation or vote, as the case may be. With regard to any record date for action to be taken by the Holders
of one or more series of Securities, only the Holders of Securities of such series on such date (or their duly designated proxies) shall be entitled to give or take, or vote on, the relevant action. 

(d) The ownership of Securities shall be proved by the Security Register or by a certificate of the Security Registrar. 

(e) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every
future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company
in reliance thereon, whether or not notation of such action is made upon such Security. 
 (f) Without limiting the foregoing, a
Holder entitled hereunder to give or take any action hereunder with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so
pursuant to such appointment with regard to all or any different part of such principal amount. 

  
 9 

	Section 105.	Notices, Etc., to Trustee and Company. 

 Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with,

 (1) the Trustee by any Holder or by 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, Attention: W. Jeffrey Kramer, or 
 (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the
Company addressed to it at the address of its principal office specified in the first paragraph of this instrument, Attention: Vice President – Finance and Treasurer, or at any other address previously furnished in writing to the Trustee by the
Company. 
  

	Section 106.	Notice to Holders; Waiver. 

Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at its address as it appears in the Security Register, not later than the latest date (if any), and not earlier than the earliest date
(if any), prescribed for the g v ng of such notice; provided, however, that the Company or the Trustee, upon a good faith determination that mailing is in the circumstances impractical, may give such notice by any other method which, in the
reasonable belief of the Company or, in the case of the Trustee, of the Company and the Trustee, is likely to be received by the Holders. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect
in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to
receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any
action taken in reliance upon such waiver. 
 In case by reason of the suspension of regular mail service or by reason of any
other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

 

	Section 107.	Conflict with Trust Indenture Act. 

 If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under such Act to be a part of and govern this Indenture, the latter provision shall
control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the
case may be. 

  
 10 

	Section 108.	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 109.	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 110.	Separability Clause. 

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

 

	Section 111.	Benefits of Indenture. 

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

  

	Section 112.	Governing Law. 

 This Indenture
and the Securities shall be governed by and construed in accordance with the laws of the State of New York, but without regard to principles of conflicts of laws. 
  

	Section 113.	Legal Holidays. 

 In any case
where any Interest Payment Date, Redemption Date or Stated Maturity of any Security or the last day on which a Holder has the right to convert a Security at a particular conversion price shall not be a Business Day at any Place of Payment, then
(notwithstanding any other provision of this Indenture or of the Securities (other than a provision of the Securities of any series which specifically states that such provision shall apply in lieu of this Section)) payment of interest or principal
(and premium, if any) or conversion need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or
Redemption Date, or at the Stated Maturity, provided that no interest shall accrue with respect to such payment for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be. 

 

	Section 114.	Personal Immunity from Liability for Incorporators, Stockholders, Etc. 

 No recourse shall be had for the payment of the principal of or premium, if any, or interest, if any, on any Security, or for any claim based thereon, or otherwise in respect of any Security, or based on
or in respect of this Indenture or any indenture supplemental hereto, against any incorporator, or against any past, present or future stockholder, director or officer, as such, of 

  
 11 

 
the Company or of any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability
being expressly waived and released as a condition of, and as consideration for, the execution of this Indenture and the issue of the Securities. 
 ARTICLE TWO 
 SECURITY FORMS 

 

	Section 201.	Forms Generally. 

 The Securities
of each series shall be in substantially the form set forth in this Article, or in such other form as shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate
insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to
comply with the rules of any securities exchange or as may, consistent herewith, be determined by the officers executing such Securities, as evidenced by their execution of the Securities. If the form of Securities of any series is established by
action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Corporate Secretary or an Assistant Corporate Secretary of the Company and delivered to the Trustee at or prior to the delivery of
the Company Order contemplated by Section 303 for the authentication and delivery of such Securities. 
 The definitive
Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such Securities. 

 

	Section 202.	Form of Face of Security. 

[Insert any legend required by the Internal Revenue Code and the regulations thereunder.] 

AETNA LIFE AND CASUALTY COMPANY 
  

			
	No.             	 	$            

 AETNA LIFE AND CASUALTY COMPANY, a Connecticut insurance corporation (herein called the
“company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                    , or registered assigns, the principal sum of
                     [Dollars] [if other than Dollars, substitute other currency or currency units] [if the Security is to bear interest prior
to Maturity, insert – , and to pay interest thereon from                      or from the most recent Interest Payment Date to which
interest has been paid or duly provided for, [semi-annually on              and              in each year] [If
other than semi-annual payments, insert frequency of payments and payment dates], commencing             , at [If the Security is to bear interest at a fixed rate, insert the rate of
    %per annum [If the Security is a Floating or Adjustable Rate Security, insert – a rate per 

  
 12 

 
annum [computed-determined] in accordance with the [insert defined name of Floating or Adjustable Rate Provision] set forth below] [If the security is to bear interest at a rate determined with
reference to an index, refer to description of index below] until the principal hereof is paid or made available for payment [if applicable, insert – , and (to the extent that the payment of such interest shall be legally enforceable) at the
rate of     % per annum on any overdue principal and premium and on any overdue instalment of interest]. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in
such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the
             or              (whether or not a Business Day), as the case may be, next preceding such Interest
Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to
such Special Record Date, or be paid at any time in ,y other lawful manner not inconsistent with requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in said Indenture]. 
 [If the Securities are Floating or Adjustable Rate Securities with respect to
which the principal of or any premium or interest may be determined with reference to an index, insert the text of the Floating or Adjustable Rate Provision.] 
 [If the Security is not to bear interest prior to Maturity, insert – The principal of this Security shall not bear interest except in the case of a default in payment of principal upon acceleration,
upon redemption or at Stated Maturity and in such case the overdue principal of this Security shall bear interest at the rate of     % per annum (to the extent that the payment of such interest shall be legally
enforceable), which shall accrue from the date of such default in payment to the date payment of such principal has been made or duly provided for. Interest on any overdue principal shall be payable on demand. Any such interest on any overdue
principal that is not so paid on demand shall bear interest at the rate of     % per annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of such demand for
payment to the date payment of such interest has been made or duly provided for, and such interest shall also be payable on demand.] 
 Payment of the principal of (and premium, if any) and [if applicable, insert – any such] interest on this Security will be made at the office or agency of the Company maintained for that purpose in
            , in such coin or currency [of the United States of America] [if the Security is denominated in a currency other than U.S. dollars, specify other currency or currency
unit in which payment of the principal of and any premium or interest may be made] as at the time of payment is legal tender for payment of public and private debts [if applicable, insert – ; provided, however, that at the option of the Company
payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register]. 

  
 13 

 Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal. 

Dated: 
  

			
	AETNA LIFE AND CASUALTY COMPANY
		
	By	 	  

  

	
	Attest:
	
	  

  

	Section 203.	Form of Reverse of Security. 

This Security is one of a duly authorized issue of securities of the Company (herein called the “securities”), issued and to be
issued in one or more series under an Indenture, dated as of                      (herein called the “Indenture”), between the
Company and                     , as Trustee (herein called the “Trustee”, which term includes any successor trustee under the
Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof[, limited in aggregate principal amount to
$                    ]. 
 [If applicable, insert – The Securities of this series are subject to redemption upon not less than 30 days’ nor more than 60 days’ notice by mail, [if applicable, insert –
(1) on              in any year commencing with the year              and ending with the year
            . through operation of the sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2)] at any time [on or after
            , 19    ], as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal
amount): If redeemed [on or before             ,     %, and if redeemed] during the 12-month period beginning
         of the years indicated, 

  
 14 

							
	 Year
	 	 Redemption Price
	 	 Year
	 	 Redemption Price

		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	
		 		 		 	

 and thereafter at a Redemption Price equal to     % of the principal amount, together in the
case of any such redemption [if applicable, insert – (whether through operation of the sinking fund or otherwise)] with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption
Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.] 

[If applicable, insert – The Securities of this series are subject to redemption upon not less than 30 days’ nor more than
60 days’ notice by mail, (1) on              in any year commencing with the year              and
ending with the year              through operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as
percentages of the principal amount) set forth in the table below, and (2) at any time [on or after             ], as a whole or in part, at the election of the Company, at the
Redemption Prices for redemption otherwise than through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month period beginning
             of the years indicated, 
  

					
	 Year
	 	 Redemption Price For Redemption Through
Operation of the Sinking
Fund
	 	 Redemption Price For Redemption Otherwise Than
Through Operation of
the Sinking Fund

		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	

 and thereafter at a Redemption Price equal to     % of the principal amount, together in the
case of any such redemption (whether through operation of the sinking fund or otherwise) with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the
Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.] 

[The sinking fund for this series provides for the redemption on
             in each year beginning with the year              and ending with the year
             of [not less than $         (“mandatory sinking fund”) and not more than]
$         aggregate principal amount of Securities of this series. Securities of this series acquired or redeemed by the 

  
 15 

 
Company otherwise than through [mandatory] sinking fund payments may be credited against subsequent [mandatory) sinking fund payments otherwise required to be made [in the inverse order in which
they become due].] 
 [If the Security is subject to redemption, insert – In the event of redemption of this Security in
part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 

The Indenture contains provisions for defeasance at any time of (1) the entire indebtedness of this Security or (2) certain
restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 [If the Security is convertible into Common Stock of the Company, insert – Subject to the provisions of the Indenture, the Holder of this Security is entitled, at its option, at any time on or before
[insert date) (except that, in case this Security or any portion hereof shall be called for redemption, such right shall terminate with respect to this Security or portion hereof, as the case may be, so called for redemption at the close of business
on the date fixed for redemption as provided in the Indenture unless the Company defaults in making the payment due upon redemption), to convert the principal amount of this Security (or any portion hereof which is $1,000 or an integral multiple
thereof), into fully paid and non-assessable shares (calculated as to each conversion to the nearest 1/100th of a share) of the Common Stock of the Company, as said shares shall be constituted at the date of conversion, at the conversion price of
$         principal amount of Securities for each share of Common Stock, or at the adjusted conversion price in effect at the date of conversion determined as provided in the Indenture, upon surrender
of this Security, together with the conversion notice hereon duly executed, to the Company at the designated office or agency of the Company in
                    , accompanied (if so required by the Company) by instruments of transfer, in form satisfactory to the Company and to the
Trustee, duly executed by the Holder or by its duly authorized attorney in writing. such surrender shall, if made during any period beginning at the close of business on a Regular Record Date and ending at the opening of business on the Interest
Payment Date next following such Regular Record Date (unless this Security or the portion being converted shall have been called for redemption on a Redemption Date during such period), also be accompanied by payment in funds acceptable to the
Company of an amount equal to the interest payable on such Interest Payment Date on the principal amount of this Security then being converted. Subject to the aforesaid requirement for payment and, in the case of a conversion after the Regular
Record Date next preceding any Interest Payment Date and on or before such Interest Payment Date, to the right of the Holder of this Security (or any Predecessor Security) of record at such Regular Record Date to receive. an installment of interest
(with certain exceptions provided in the Indenture), no adjustment is to be made on conversion for interest accrued hereon or for dividends on shares of Common Stock issued on conversion. The Company is not required to issue fractional shares upon
any such conversion, but shall make adjustment therefor in cash on the basis of the current market value of such fractional interest as provided in the Indenture. The conversion price is subject to adjustment as provided in the Indenture. In
addition, the Indenture provides that in case of certain consolidations or mergers to which the Company is a party or the sale of substantially all of the assets of the Company, the Indenture shall be amended, without the consent of any

  
 16 

 
Holders of Securities, so that this Security, if then outstanding, will be convertible thereafter, during the period this Security shall be convertible as specified above, only into the kind and
amount of securities, cash and other property receivable upon the consolidation, merger or sale by a holder of the number of shares of Common Stock into which this Security might have been converted immediately prior to such consolidation, merger or
sale (assuming such holder of Common Stock failed to exercise any rights of election and received per share the kind and amount received per share by a plurality of non-electing shares) [, assuming if such consolidation, merger or sale is prior to
            , 19    , that this Security were convertible at the time of such consolidation, merger or sale at the initial conversion price specified above
as adjusted from             , 19     to such time pursuant to the Indenture]. In the event of conversion of this Security in part only, a new Security or
Securities for the unconverted portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof.] 

[If the Security is convertible into other securities of the Company, specify the conversion features.] 

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

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

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the
Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security
shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Security. 
 No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and [rate-rates], and in the coin or currency, herein prescribed.

  
 17 

 As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is registerable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security
are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or
more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of
$         and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal
amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in
connection therewith. 
 Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and
any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security is overdue, and neither the Company, the Trustee nor any such agent shall be
affected by notice to the contrary. 
 No recourse shall be had for the payment of the principal of (and premium, if any) or
interest on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past,
present or future, of the Company or of any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and
as part of the consideration for the issue hereof, expressly waived and released. 
 All terms used in this Security which are
defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  

	Section 204.	Form of Legend for Global Securities. 

 Every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form or such other legends as may be required: 

This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of a
Depositary or a nominee thereof. 

  
 18 

 This Security may not be transferred to, or registered or exchanged for Securities
registered in the name of, any Person other than the Depositary or a nominee thereof and no such transfer may be registered, except in the limited circumstances described in the Indenture. 

Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, this Security shall be a
Global Security subject to the foregoing, except in such limited circumstances. 
  

	Section 205.	Form of Trustee’s Certificate of Authentication. 

 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 206.	Form of Conversion Notice. 

 To
Aetna Life and Casualty Company 
 The undersigned owner of this Security hereby irrevocably exercises the option to convert
this Security, or portion hereof (which is $1,000 or an integral multiple thereof) below designated, into shares of Common Stock of the Company in accordance with the terms of the Indenture referred to in this Security, and directs that the shares
issuable and deliverable upon the conversion, together with any check in payment for fractional shares and any Securities representing any unconverted principal amount hereof, be issued and delivered to the registered holder hereof unless a
different name has been indicated below. If this Notice is being delivered on a date after the close of business on a Regular Record Date and prior to the opening of business on the related Interest Payment Date (unless this Security or the portion
thereof being converted has been called for redemption on a Redemption Date within such period), this Notice is accompanied by payment, in funds acceptable to the Company, of an amount equal to the interest payable on such Interest Payment Date of
the principal of this Security to be converted. If shares are to be issued in the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect hereto. Any amount required to be paid by the undersigned
on account of interest accompanies this Security. 

  
 19 

 Principal Amount to be Converted 
 (in an integral multiple of 
 $1,000, if less than all): 

$                    

  

							
	Dated	 	  
	 		 	  

		 		 		 	Signature
		 		 		 	Signature(s) must be guaranteed by a commercial bank or trust company or a member firm of a national stock exchange if shares of Common Stock are to be delivered, or Securities to
be issued, other than to and in the name of the registered owner.
				
		 		 		 	  

		 		 		 	Signature Guarantee

 Fill in for registration of shares of Common Stock and Security if to be issued otherwise than to the
registered holder. 
  

					
	  
	 		 	Social Security or other Taxpayer
	(Name)	 		 	Identifying Number
			
		 		 	  

			
	  
	 		 	
	(Address)	 		 	
			
	  
	 		 	
	 Please print Name and
 Address
(including zip
 code number)
	 		 	

  
 20 

 ARTICLE THREE 
 THE SECURITIES 
  

	Section 301.	Amount Unlimited; Issuable in Series. 

 The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution or established in one or more indentures supplemental hereto, prior to the issuance of
Securities of any series, 
 (1) the title of the Securities of the series (which shall distinguish the
Securities of the series from Securities of any other series); 
 (2) any limit upon the aggregate principal
amount of the Securities of the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the
series pursuant to Sections 304, 305, 306, 906 or 1107 and except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); 

(3) the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 
 (4) the date or dates on which the principal of the Securities of the series is payable; 
 (5) the rate or rates at which the Securities of the series shall bear interest, if any, or the Floating or Adjustable Rate Provision pursuant to which such rates shall be determined, the date or dates
from which such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any interest payable on any Interest Payment Date; 

(6) whether the Securities of the series would be secured pursuant to Section 901(6); 

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

 (8) the period or periods within which, the price or prices at which (including premium, if any) and the terms
and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company pursuant to a sinking fund or otherwise; 

  
 21 

 (9) the obligation, if any, of the Company to redeem or purchase Securities
of the series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the series shall be
redeemed or purchased, in whole or in part, pursuant to such obligation; 
 (10) the terms of any right to
convert Securities of the series into shares of Common Stock of the Company or other securities or property; 

(11) if other than denominations of $1,000 and any integral multiple thereof, the denominations in which Securities of the
series shall be issuable; 
 (12) the currency or currencies, including composite currencies, or currency units
in which payment of the principal of and any premium and interest on any Securities of the series shall be payable if other than the currency of the United States of America and the manner of determining the equivalent thereof in the currency of the
United States of America for purposes of the definition of “Outstanding” in Section 101; 
 (13)
if the amount of payments of principal of or any premium or interest on any Securities of the series may be determined with reference to one or more indices, the manner in which such amounts shall be determined; 

(14) if the principal of or any premium or interest on any Securities of the series is to be payable, at the election of
the Company or a Holder thereof, in one or more currencies, including composite currencies, or currency units other than that or those in which the Securities are stated to be payable, the currency, currencies, including composite currencies, or
currency units in which payment of the principal of and any premium and interest on Securities of such series as to which such election is made shall be payable, and the periods within which and the terms and conditions upon which such election is
to be made; 
 (15) if other than the principal amount thereof, the portion of the principal amount of Securities
of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502 or provable under any applicable federal or state bankruptcy or similar law pursuant to Section 503; 

(16) if and as applicable, that the Securities of the series shall be issuable in whole or in part in the form of one or
more Global Securities and, in such case, the Depositary or Depositaries for such Global Security or Global Securities and any circumstance other than those set forth in Section 305 in which any such Global Security may be transferred to, and
registered and exchanged for Securities registered in the name of, a Person other than the Depositary for such Global Security or a nominee thereof and in which any such transfer may be registered; 

  
 22 

 (17) any other event or events of default applicable with respect to the
Securities of the series in addition to those provided in Section 501(1) through (7); 
 (18) any other
covenant or warranty included for the benefit of Securities of the series in addition to (and not inconsistent with) those included in this Indenture for the benefit of Securities of all series, or any other covenant or warranty included for the
benefit of Securities of the series in lieu of any covenant or warranty included in this Indenture for the benefit of Securities of all series, or any provision that any covenant or warranty included in this Indenture for the benefit of Securities
of all series shall not be for the benefit of Securities of the series, or any combination of such covenants, warranties or provisions; 
 (19) any restriction or condition on the transferability of the Securities of the series; 
 (20) any authenticating or paying agents, registrars, conversion agents or any other agents with respect to the Securities of the series; and 

(21) any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture, except as
permitted by Section 901(5)). 
 All Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above or in any such indenture supplemental hereto. 
 If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of such action shall be delivered to the Trustee. 

 

	Section 302.	Denominations. 

 The Securities
of each series shall be issuable in registered form without coupons in such denominations as shall be specified as contemplated by Section 301. In the absence of any such provisions with respect to the Securities of any series, the Securities
of such series shall be issuable in denominations of $1,000 and any integral multiple thereof. 
  

	Section 303.	Execution, Authentication, Delivery and Dating. 

 The Securities shall be executed on behalf of the Company by its Chairman, a Vice Chairman, its President, any Vice President, its Treasurer or Assistant Treasurer, under its corporate seal reproduced
thereon attested by its Corporate Secretary or one of its Assistant Corporate Secretaries. The signature of any of these officers on the Securities may be manual or facsimile. 
 The seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the Securities. Securities 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 or did
not 

  
 23 

 
hold such offices at the date of such Securities. Minor typographical and other minor errors in the text of any Security or minor defects in the seal or facsimile signature on any Security shall
not affect the validity or enforceability of such Security if it has been duly authenticated and delivered by the Trustee. 
 At
any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and
delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If the form or terms of the Securities of the series have been established in or pursuant to one or more Board
Resolutions as permitted by Sections 201 and 301, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to
Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating, 
 (a) if the form of
such Securities has been established by or pursuant to Board Resolution as permitted by Section 201, that such form has been established in conformity with the provisions of this Indenture; 

(b) if the terms of such Securities have been established by or pursuant to Board Resolution as permitted by
Section 301, that such terms have been established in conformity with the provisions of this Indenture; and 

(c) that such Securities, when 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 valid and legally binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’ rights generally or the rights of creditors of insurance companies generally and to general equity principles. 

The Trustee shall have the right to decline to authenticate and deliver any Securities under this Section if the Trustee, being
advised by counsel, determines that such action may not lawfully be taken or if the Trustee in good faith by its board of directors, executive committee, or a trust committee of directors or responsible officers of the Trustee shall determine that
such action would expose the Trustee to personal liability to existing Holders of Securities. 
 Notwithstanding the provisions
of Section 301 and of the preceding paragraph, if all Securities of a series are not to be originally issued at one time, it shall not be necessary to deliver the Board Resolution otherwise required pursuant to Section 301 or the Company
Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior to the time of authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance
of the first Security of such series to be issued. 
 Each Security shall be dated the date of its authentication. 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication 

  
 24 

 
substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such
Security has been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security
to the Trustee for cancellation as provided in Section 309, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture.

  

	Section 304.	Temporary Securities. 

 Pending
the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise
produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such
Securities may determine, as evidenced by their execution of such Securities. 
 If temporary Securities of any series are
issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for
definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or
more temporary Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of a like aggregate
principal amount and tenor. Until so exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 

 

	Section 305.	Registration, Registration of Transfer and Exchange. 

 The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office and in any other office or agency of the Company in a Place of Payment
being herein sometimes collectively referred to as the “security Register”) in which, subject to such reasonable regulations as it or the Trustee may prescribe, the Company shall provide for the registration of Securities and of transfers
of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. 
 Upon surrender for registration of transfer of any Security of any series at the office or agency in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and
deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations and of a like aggregate principal amount and tenor. 

  
 25 

 At the option of the Holder, Securities of any series may be exchanged for other Securities
of the same series, of any authorized denominations and of a like aggregate principal amount and tenor, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company
shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 
 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 entitled to the same benefits under this
Indenture, as the Securities surrendered upon such registration of transfer or exchange. 
 Every Security presented or
surrendered for registration of transfer, exchange, redemption or payment shall (if so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 
 No service charge shall
be made for any registration of transfer or exchange of Securities, but the Company or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of
transfer or exchange of Securities, other than exchanges pursuant to Section 304, 906 or 1107 not involving any transfer. 

Neither the Company nor the Trustee shall be required (i) to issue, register the transfer of or exchange Securities of any series
during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of Securities of that series selected for redemption under Section 1103 and ending at the close of business on the day of such
mailing, or (ii) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

Notwithstanding any other provision in this Indenture, no Global Security may be transferred to, or registered or exchanged for
Securities registered in the name of, any Person other than the Depositary for such Global Security or any nominee thereof, and no such transfer may be registered, unless (1) such Depositary (A) notifies the Company and the Trustee that it
is unwilling or unable to continue as Depositary for such Global Security or (B) ceases to be a clearing agency registered under the Exchange Act, (2) the Company executes and delivers to the Trustee a Company Order that such Global
Security shall be so transferable, registrable and exchangeable, and such transfers shall be registrable, (3) there shall have occurred and be continuing an Event of Default with respect to the Securities evidenced by such Global Security or
(4) there shall exist such other circumstances, if any, as have been specified for this purpose as contemplated by Section 301. Notwithstanding any other provision in this Indenture, a Global Security to which the restriction set forth in
the preceding sentence shall have ceased to apply may be transferred only to, and may be registered and exchanged for Securities registered only in the name or names of, such Person or Persons as the Depositary for such Global Security shall have
directed and no transfer thereof other than such a transfer may be registered. 

  
 26 

 Every Security authenticated and delivered upon registration of transfer of, or in exchange
for or in lieu of, a Global Security to which the restriction set forth in the first sentence of the preceding paragraph shall apply, whether pursuant to this Section, Section 304, 306, 906 or 1107 or otherwise, shall be authenticated and
delivered in the form of, and shall be, a Global Security. 
  

	Section 306.	Mutilated, Destroyed, Lost and Stolen Securities. 

 If there shall be delivered to the Company and the Trustee (i) a mutilated Security, or (ii) evidence to their satisfaction of the destruction, loss or theft of any Security and in either case
such security or indemnity as may be required by either of them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide
purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such mutilated, destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the
issuance of any new Security under this Section, the Company or the Trustee may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees
and expenses of the Trustee) connected therewith. 
 Every new Security of any series issued pursuant to this Section in
lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to
all the benefits of this Indenture equally and proportionately with any and all other Securities of that series duly issued hereunder. 
 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen
Securities. 
  

	Section 307.	Payment of Interest; Interest Rights Preserved. 

 Except as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any
Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. 

  
 27 

 Any interest on any Security of any series which is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest
may be paid by the Company, at its election in each case, as provided in Clause (1) or (2) below: 

(1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such
series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in
writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the
proposed payment and not less than 15 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall
cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at its address as it appears in the Security Register, not
less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the
Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2). 

(2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to
this Clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this
Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other
Security. 
 Subject to the provisions of Section 1202, in the case of any Security which is converted after any Regular
Record Date and on or prior to the next succeeding Interest Payment Date (other than any Security the principal of (or premium, if any, on) which shall become due and payable, whether at a Stated Maturity or by declaration of acceleration, call for
redemption, or otherwise, prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion and such interest (whether or not
punctually paid or duly provided for) shall be paid 

  
 28 

 
to the Person in whose name that Security (or any one or more Predecessor 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 Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security shall not be payable. 

 

	Section 308.	Persons Deemed Owners. 

 Prior to
due presentment of a 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 Security is registered as the owner of such Security for the purpose of
receiving payment of principal of and any premium and (subject to Section 307) any interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of
the Company or the Trustee shall be affected by notice to the contrary. 
  

	Section 309.	Cancellation. 

 All Securities
surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment or for conversion shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly
cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to
any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities
shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of as directed by a Company
Order. Acquisition by the Company of any Security shall not operate as a redemption or satisfaction of the indebtedness represented by such Security unless and until the same is delivered to the Trustee for cancellation. 

 

	Section 310.	Computation of Interest. 

 Except
as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months. 

  
 29 

 ARTICLE FOUR 
 SATISFACTION AND DISCHARGE 
  

	Section 401.	Satisfaction and Discharge of Indenture. 

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

(1) either 
 (A) all Securities of such series theretofore authenticated and delivered (other than (i) Securities which have been destroyed, lost or stolen and which have been replaced or paid as provided in
Section 306 and (ii) Securities 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 1003) have been delivered to the Trustee for cancellation; or 
 (B) all such Securities of such
series 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) 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 in trust for the purpose (A) money (either in United States dollars or such other currency or currency unit in which the Securities of any series may be
payable) in an amount, or (B) U.S. Government Obligations (or Foreign Government Obligations if the Securities are denominated in a foreign currency or currencies) that through the scheduled payment of principal and interest in respect thereof
in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) a combination thereof, sufficient to pay and discharge the entire indebtedness on such Securities of such series
not theretofore delivered to the Trustee for cancellation, for principal of (and premium, if any) and interest to the date of such deposit (in the case of Securities of such series which have become due and payable) or to the Stated Maturity or
Redemption Date, as the case may be; 
 (2) the Company has paid or caused to be paid all other sums payable
hereunder by the Company; and 
 (3) the Company has delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to .the satisfaction and discharge of this Indenture with respect to such series have been complied with. 

  
 30 

 In the event there are Securities of two or more series outstanding 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 a particular series as to which it is Trustee and if the other conditions thereto are met.
In the event that there are two or more Trustees hereunder, then the effectiveness of any such instrument shall be conditioned upon receipt of such instruments from all Trustees hereunder. 

Notwithstanding the satisfaction and discharge of this Indenture with respect to a particular series, the obligations of the Company to
the Trustee under Section 607, the obligations of the Trustee to any Authenticating Agent under Section 614 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1} of this Section, the
obligations of the Trustee under Section 402 and the last paragraph of Section 1003 shall survive until there are no Securities Outstanding with respect to a particular series and the obligations of the Company and the Trustee with respect
to all other series of Securities shall survive. 
  

	Section 402.	Application of Trust Fund. 

Subject to provisions of the last paragraph of Section 1003, all amounts deposited with the Trustee pursuant to Section 401
shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such funds have been deposited with the Trustee. 
 ARTICLE FIVE 
 REMEDIES 

 

	Section 501.	Events of Default. 

 “Event
of Default” whenever used with respect to Securities of a series means any one of the following events and such other events as may be established with respect to the Securities of such series as contemplated by Section 301 hereof:

 (1) Default in the payment of any instalment of interest upon any of the Securities of such series as and when
the same shall become due and payable, d continuance of such default for a period of 30 days; or 
 (2) Default
in the payment of the principal of or premium, if any, on any of the Securities of such series as and when the same shall become due and payable either at maturity, upon redemption, by declaration or otherwise; or 

(3) Default in the making of any sinking fund payment, whether mandatory or optional, as and when the same shall become
due and payable by the terms of the Securities of such series; or 
 (4) Failure on the part of the Company duly
to observe or perform in any material respect any other of the covenants or agreements on the part of the Company 

  
 31 

 
contained in this Indenture (other than those set forth exclusively in the terms of any other particular series of Securities established as contemplated by this Indenture for the benefit of such
other series) and written notice of such failure, stating that such notice is a “Notice of Default” hereunder, and requiring the Company to remedy the same, shall have been given by registered or certified mail, return receipt requested,
to the Company by the Trustee, or to the Company and the Trustee by the holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series, and such failure shall have continued unremedied for a period of 90 days
after the date of the Company’s receipt of such Notice of Default; or 
 (5) An event of default, as defined
in any indenture or instrument evidencing or under which the Company or any Principal Insurance Subsidiary shall have outstanding indebtedness for borrowed money in a principal amount in excess of $50,000,000, shall happen and be continuing and such
indebtedness shall have been accelerated so that the same shall be or become due and payable prior to the date on which the same would otherwise have become due and payable (other than acceleration of Non-Recourse Debt which does not exceed in the
aggregate 4% of the Company’s total shareholders” equity, as set forth in the most recently published audited consolidated balance sheet of the Company) or the Company or any Principal Insurance Subsidiary shall default in the payment at
final maturity of outstanding indebtedness for borrowed money in a principal amount in excess of $50,000,000 (other than default in payment at final maturity of Non-Recourse Debt which does not exceed in the aggregate 4% of the Company’s total
shareholders’ equity as set forth in the most recently published audited consolidated balance sheet of the Company), and such acceleration or default at maturity shall not be waived, rescinded or annulled within 30 days after written
notice thereof, stating that such notice is a “Notice of Default” hereunder, shall have been given to the Company by the Trustee (if such event be known to it), or to the Company and the Trustee by the holders of at least 25% in aggregate
principal amount of the Outstanding Securities of that series; provided, however, that if such acceleration under such indenture or instrument or default at maturity shall be remedied or cured by the Company or Principal Insurance Subsidiary, or
waived, rescinded or annulled by the requisite holders of such indebtedness, then the Event of Default hereunder by reason thereof shall be deemed likewise to have been thereupon remedied, cured or waived without further action upon the part of
either the Trustee or any of the Holders; and provided further, that, subject to the provisions of Sections 601 and 602, the Trustee shall not be charged with knowledge of any such default unless written notice thereof shall have been given to the
Trustee by the Company, by the holder of any such indebtedness or an agent of the holder of any such indebtedness, by the trustee then acting under any such indenture or other instrument under which such default shall have occurred, or by the
holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series; or 
 (6) A
decree or order by a court having jurisdiction in the premises shall have been entered adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of the
Company under any applicable Federal or State bankruptcy or similar law, and such decree or order shall have continued undischarged and unstayed for a period of 90 days; or a decree or order of a court having jurisdiction in the premises for the
appointment of a 

  
 32 

 
receiver, liquidator, trustee, assignee, sequestrator or similar official in bankruptcy or insolvency of the Company or of all or substantially all of its property, or for the winding up or
liquidation of its affairs, shall have been entered, and such decree or order shall have continued undischarged and unstayed for a period of 90 days; or 
 (7) The Company shall institute proceedings to be adjudicated a voluntary bankrupt, or shall consent to the filing of a bankruptcy proceeding against it, or shall file a petition or answer or consent
seeking reorganization, arrangement, adjustment or composition under any applicable Federal or State bankruptcy or similar law, or shall consent to the filing of any such petition, or shall consent to the appointment of a receiver, liquidator,
trustee, assignee, sequestrator or similar official in bankruptcy or insolvency of the Company or of all or substantially all of its property, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay
its debts generally as they become due and its willingness to be adjudged a bankrupt, or corporate action shall be taken by the Company in furtherance of any of the aforesaid purposes. 

Upon receipt by the Trustee of any Notice of Default pursuant to this Section 501 with respect to Securities of any series, a record
date shall automatically and without any other action by any Person be set for the purpose of determining the holders of Outstanding Securities of such series entitled to join in such Notice of Default, which record date shall be the close of
business on the day the Trustee receives such Notice of Default. The Holders of Outstanding Securities of such series on such record date (or their duly appointed agents), and only such Persons, shall be entitled to join in such Notice of Default,
whether or not such Holders remain Holders after such record date; provided that, unless such Notice of Default shall have become effective by virtue of Holders of at least 25% in principal amount of Outstanding Securities of such series on such
record date (or their duly appointed agents) having joined therein on or prior to the 90th day after such record date, such Notice of Default shall automatically and without any action by any Person be cancelled and of no further effect. Nothing in
this paragraph shall prevent a Holder (or a duly appointed agent thereof) from giving, before or after the expiration of such 90 day period, a Notice of Default contrary to or different from, or, after the expiration of such period, identical
to, a Notice of Default that has been cancelled pursuant to the proviso to the preceding sentence, in which event a new record date in respect thereof shall be set pursuant to this paragraph. 

 

	Section 502.	Acceleration of Maturity; Rescission and Annulment. 

 If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal
amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in
the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount)
shall become immediately due and payable. 
 At any time after such a declaration of acceleration with .respect to Securities of
any series has been made and before a judgment or decree for payment of the money due has 

  
 33 

 
been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company
and the Trustee, may rescind and annul such declaration and its consequences if 
 (1) the Company has paid or
deposited with the Trustee a sum sufficient to pay series 
 (A) all overdue interest on all Securities of that

 (B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise
than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities, 
 (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor 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 except such costs and expenses as are a result of negligence or bad faith on the part of the Trustee; 
 and 
 (2) all Events of Default with respect to Securities of that
series, other than the non-payment of the principal of and interest, if any, on the Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. 

No such rescission shall affect any subsequent default or impair any right consequent thereon. 

Upon receipt by the Trustee of any declaration of acceleration, or any rescission and annulment of any such declaration, pursuant to this
Section 502 with respect to Securities of any series, a record date shall automatically and without any other action by any Person be set for the purpose of determining the Holders of Outstanding Securities of such series entitled to join in
such declaration, or rescission and annulment, as the case may be, which record date shall be the close of business on the day the Trustee receives such declaration, or rescission and annulment, as the case may be. The Holders of Outstanding
Securities of such series on such record date (or their duly appointed agents), and only such Persons, shall be entitled to join in such declaration, or rescission and annulment, as the case may be, whether or not such Holders remain Holders after
such record date; provided that, unless such declaration, or rescission and annulment, as the case may be, shall have become effective by virtue of Holders of at least 25%, in the case of any declaration of acceleration, or a majority, in the case
of any rescission or annulment, in principal amount of Outstanding Securities of such series on such record date (or their duly appointed agents) having joined therein on or prior to the 90th day after such record date, such declaration. or
rescission and annulment, as the case may be, shall automatically and without any action by any Person be cancelled and of no further effect. Nothing in this paragraph shall prevent a Holder (or a duly appointed agent thereof) from giving, before or
after the expiration of such 90-day period, a declaration of acceleration, or a rescission and annulment 

  
 34 

 
of any such declaration, contrary to or different from, or, after the expiration of such period, identical to, a declaration, or rescission and annulment, as the case may be, that has been
cancelled pursuant to the proviso to the preceding sentence, in which event a new record date in respect thereof shall be set pursuant to this paragraph. 
  

	Section 503.	Collection of Indebtedness and Suits for Enforcement by Trustee. 

 The Company covenants that if 
 (1) default is made in the payment
of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or 
 (2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof, 
 the Company will, upon written demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium
and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition
thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel except such costs and expenses, as
are a result of negligence or bad faith on the part of the Trustee. Until such demand is made by the Trustee, the Company may pay the principal of and premium, if any, and interest, if any, on the Securities of any series to the registered holders,
whether or not the Securities of such series are overdue. 
 If an Event of Default with respect to Securities of any series
occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to
protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

 

	Section 504.	Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company (or any other obligor upon the Securities), its property or its creditors, the
Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In
particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial .proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607 except such costs and expenses, as are a result of
negligence or bad faith on the part of the Trustee. 

  
 35 

 No provision of this Indenture shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

 

	Section 505.	Trustee May Enforce Claims Without Possession of Securities. 

 All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any
proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel except such costs and expenses, as are a result of negligence or bad faith on the part of the Trustee, be for the ratable benefit of the Holders of the Securities in respect
of which such judgment has been recovered. 
  

	Section 506.	Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 FIRST: To the payment of all amounts due the Trustee under Section 607; 

SECOND: To the payment of the amounts then due and unpaid for principal of and any premium and interest on the Securities
in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and any premium and interest, respectively;
and 
 THIRD: To the payment of the remainder, if any, to the Company or any other Person lawfully entitled
thereto. 
  

	Section 507.	Limitation on Suits. 

 No Holder
of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 

(1) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the
Securities of that series; 

  
 36 

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

(3) such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory in form and substance to the
Trustee 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 that
series; 
 it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by
availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this
Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 
  

	Section 508.	Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert. 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and
unconditional, to receive payment of the principal of and any premium and (subject to Section 307) any interest on such Security on the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption, on the Redemption
Date) and to convert such Securities in accordance with Article Twelve and to institute suit for the enforcement of any such payment or such right of conversion, and such rights shall not be impaired without the consent of such Holder. 

 

	Section 509.	Restoration of Rights and Remedies. 

 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined
adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and
thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

  
 37 

	Section 510.	Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
  

	Section 511.	Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default
shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Subject to Section 507, every right and remedy given by this Article or by law to the Trustee or to the Holders may be
exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
  

	Section 512.	Control by Holders. 

 The Holders
of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred
on the Trustee, with respect to the Securities of such series, provided that 
 (1) such direction shall not be
in conflict with any rule of law or with this Indenture, and 
 (2) the Trustee may take any other action deemed
proper by the Trustee which is not inconsistent with such direction. 
 Upon receipt by the Trustee of any such direction with
respect to Securities of any series, a record date shall be set for determining the Holders of Outstanding Securities of such series entitled to join in such direction, which record date shall be the close of business on the day the Trustee receives
such direction. The Holders of Outstanding Securities of such series on such record date (or their duly appointed agents), and only such Persons, shall be entitled to join in such direction, whether or not such Holders remain Holders after such
record date; provided that, unless such direction shall have become effective by virtue of Holders of at least a majority in principal amount of Outstanding Securities of such series on such record date (or their duly appointed agents) having joined
therein on or prior to the 90th day after such record date, such direction shall automatically and without any action by any Person be cancelled and of no further effect. Nothing in this paragraph shall prevent a Holder (or a duly appointed agent
thereof) from giving, before or after the expiration of such 90-day period, a direction contrary to or different from, or, after the expiration of such period, identical to, a direction that has been cancelled pursuant to the proviso to the
preceding sentence, in which event a new record date in respect thereof shall be set pursuant to this paragraph. 

  
 38 

	Section 513.	Waiver of Past Defaults. 

 The
Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences,
except a default 
 (1) in the payment of the principal of or any premium or interest on any Security of such
series, 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 514.	Undertaking for Costs. 

 In any
suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay
the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to authorize any
court to require such an undertaking or to make such an assessment in any suit instituted by the Company. 
 ARTICLE SIX

 THE TRUSTEE 
  

	Section 601.	Certain Duties and Responsibilities. 

 The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act. Notwithstanding the foregoing, no provision of this Indenture shall require the Trustee to expend or risk
its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee
..shall be subject to the provisions of this Section. 
  

	Section 602.	Notice of Defaults. 

 If a
default occurs hereunder with respect to Securities of any series, the Trustee shall give the Holders of Securities of such series notice of such default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case
of any default of the 

  
 39 

 
character specified in Section 501(4) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. For the purpose
of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series. 

 

	Section 603.	Certain Rights of Trustee. 

Subject to the provisions of Section 601: 
 (a) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order,
bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(b) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or
Company Order and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 

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

(d) the Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full
and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
 (e) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless
such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory in form and substance to the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction;

 (f) prior to the occurrence of an Event of Default and after the remedy or waiver of all Events of Default,
the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of
indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall upon reasonable notice to the Company be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at a time and place acceptable to the Company; and 

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

  
 40 

	Section 604.	Not Responsible for Recitals or Issuance of Securities. 

 The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee or any Authenticating Agent
assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee or any Authenticating Agent shall not be accountable for the use or
application by the Company of Securities or the proceeds thereof. 
  

	Section 605.	May Hold Securities. 

 The
Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise
deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent. 
  

	Section 606.	Money Held in Trust. 

 Money held
by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company.

  

	Section 607.	Compensation and Reimbursement. 

The Company agrees 
 (1) to pay to the Trustee from time to time reasonable compensation for all services rendered by it 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 written request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation, and reasonable expenses and disbursements of
its agents and outside counsel), except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and 
 (3) to indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance
or administration of the trust or trusts hereunder, including the reasonable costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 

  
 41 

	Section 608.	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. 
  

	Section 609.	Corporate Trustee Required; Eligibility. 

 There shall at all times be a Trustee hereunder which shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000
or is a subsidiary of a corporation which shall be a Person that has a combined capital and surplus of at least $50,000,000 and which unconditionally guarantees the obligations of the Trustee hereunder. If such Person publishes reports of condition
at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published. If at any time the Trustee 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 610.	Resignation and Removal; Appointment of Successor. 

 (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in
accordance with the applicable requirements of Section 611. 
 (b) 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 611 shall not have been delivered to the Trustee within 30 days after the giving of
such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

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

 (1) the Trustee shall fail to comply with Section 608 after written request therefor by the Company or by
any Holder who has been a bona fide Holder of a Security for at least six months, or 

  
 42 

 (2) the Trustee shall cease to be eligible under Section 609 and shall
fail to resign after written request therefor by the Company or by any such Holder, or 
 (3) the Trustee shall
become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation, 
 then, in any such case, (i) the Company by a Board Resolution may remove the
Trustee with respect to all securities, or (ii) subject to Section 514, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of itself and all others similarly situated, petition any court of
competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
 (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the
Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one
or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611. If, within one year after such
resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any Series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of
such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611, become the successor
Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any Series shall have been so appointed by the Company or
the Holders and accepted appointment in the manner required by Section 611, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of itself 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. 
 (f)
The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of
such series in the manner provided in Section 106. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 

 

	Section 611.	Acceptance of Appointment by Successor. 

 (a) In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the
retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all
the 

  
 43 

 
rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and
deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder. 
 (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but
not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of such series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and
which (1) shall contain such provisions as shall be necessary or desirable to transfer the rights, powers, trust 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, (2) 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 (3) shall add to or change any of the provisions of this Indenture
as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustee co-trustees of the same
trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the
resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of
the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. 

(c) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in
and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraphs (a) and (b) of this Section, as the case may be. 
 (d) No successor shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article. 

 

	Section 612.	Merger, Conversion, Consolidation or Succession to Business. 

 Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall
be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this
Article, without the execution or filing of any paper or any further act on the part of any of the parties 

  
 44 

 
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 613.	Preferential Collection of Claims Against Company. 

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

	Section 614.	Appointment of Authenticating Agent. 

 The Trustee may with the consent of the Company appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon original issue and upon exchange, registration of transfer, partial conversion or partial redemption thereof or pursuant to Section 306, 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
Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia,
authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority. If such Authenticating Agent publishes reports of
condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign
immediately in the manner and with the effect specified in this Section. 
 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 the corporate agency or
corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part
of the Trustee or the Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof
to the Trustee and to the Company. The Trustee or the Company may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company or the Trustee, as the case may be. Upon
receiving such a notice of 

  
 45 

 
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 mail written notice of such appointment by first-class mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating
Agent will serve, as their names and addresses appear in the Security Register. 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 Trustee agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section, and the Trustee shall be entitled to be reimbursed for such payments,
subject to the provisions of Section 607. 
 If an appointment with respect to one or more series is made pursuant to this
Section, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication in the following form: 

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

 

	
	  

	As Trustee

  

			
	By	 	  

		 	As Authenticating Agent

  

			
	By	 	  

		 	Authorized Officer

 ARTICLE SEVEN 
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 
  

	Section 701.	Company to Furnish Trustee Names and Addresses of Holders. 

 The Company will furnish or cause to be furnished to the Trustee 

(a) semi-annually, not later than 10 days after each Regular Record Date in each year, a list for each series of
Securities, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of such series as of the preceding Regular Record Date, and 

(b) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such
request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 

  
 46 

 excluding from any such list names and addresses received by the Trustee in its capacity as Security
Registrar. 
  

	Section 702.	Preservation of Information; Communications to Holders. 

 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in
Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 701 upon receipt of a new list so furnished.

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

(c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor
the Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 

 

	Section 703.	Reports by Trustee. 

 (a) The
Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. To the extent that any such
report is required by the Trust Indenture Act with respect to any 12 month period, such report shall cover the 12 month period ending July 15 and shall be transmitted by the next succeeding September 15. 

(b) A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon
which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange. 
  

	Section 704.	Reports by Company. 

 The Company
shall file with the Trustee and the Commission”, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the manner provided
pursuant to such Act; provided that any such information, documents or reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is so
required to be filed with the Commission. 

  
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 ARTICLE EIGHT 
 CONSOLIDATION, MERGER, OR SALE OF ASSETS 
  

	Section 801.	Company May Consolidate, Etc., Only on Certain Terms. 

 The Company shall not consolidate with or merge into any other Person or sell its properties and assets as, or substantially as, an entirety to any Person, and the Company shall not permit any Person to
consolidate with or merge into the Company, unless: 
 (1) in case the Company shall consolidate with or merge
into another Person or sell its properties and assets as, or substantially as, an entirety to any Person, the Person formed by such consolidation or into which the Company is merged or the Person which purchases the properties and assets of the
Company as, or substantially, as an entirety shall be a corporation, partnership or trust, shall be organized and validly 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, in form satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and interest on all the Securities and the performance or
observance of every covenant of this Indenture on the part of the Company to be performed or observed and the conversion rights, if any, shall be provided for in accordance with Article Twelve, by supplemental indenture satisfactory in form to the
Trustee, executed and delivered to the Trustee, by the Person (if other than the Company) formed by such consolidation or into which the Company shall have been merged or by the corporation which shall have acquired the Company’s assets;

 (2) immediately after giving effect to such transaction, no Event of Default shall have happened and be
continuing; and 
 (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger, or sale and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided
for relating to such transaction have been complied with. 
  

	Section 802.	Successor Substituted. 

 Upon any
consolidation of the Company with, or merger of the Company into, any other Person or any sale of the properties and assets of the Company as, or substantially as, an entirety in accordance with Section 801, the successor Person formed by such
consolidation or into which the Company is merged or to which such sale is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person
had been named as the Company herein, and thereafter, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 

  
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 ARTICLE NINE 
 SUPPLEMENTAL INDENTURES 
  

	Section 901.	Supplemental Indentures Without Consent of Holders. 

 Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in
form satisfactory to the Trustee, for any of the following purposes: 
 (1) to evidence the succession of another
Person to the Company and the assumption by any such successor of the covenants of the Company herein and in the Securities; or 
 (2) to add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating
that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the Company; or 
 (3) to add any additional Events of Default; or 
 (4) to add to or
change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit
or facilitate the issuance of Securities in uncertificated form; or 
 (5) to add to, change or eliminate any of
the provisions of this Indenture in respect of one or more series of Securities, provided that any such addition, change or elimination (i) shall neither (A) apply to any Security of any series created prior to the execution of such
supplemental indenture and entitled to the benefit of such provision nor (B) modify the rights of the Holder of any such Security with respect to such provision or (ii) shall become effective only where there is no such Security
Outstanding; or 
 (6) to secure the Securities pursuant to the requirements of Section 1005, or to
otherwise secure the Securities of any series; or 
 (7) to establish the form or terms of Securities of any
series as permitted by Sections 201 and 301; or 
 (8) 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 611(b); or 

  
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 (9) to cure any ambiguity, to correct or supplement any provision herein
which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided that such action pursuant to this clause (9) shall not adversely affect the
interests of the Holders of Securities of any series in any material respect; or 
 (10) to make provision with
respect to the conversion rights of Holders pursuant to the requirements of Article Twelve, including providing for the conversion of the securities into any security (other than the Common Stock of the Company) or property of the Company; or

 (11) to conform to any mandatory provisions of law. 

 

	Section 902.	Supplemental Indentures with Consent of Holders. 

 With the consent of the Holders of not less than a majority of 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 a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each
Outstanding Security affected thereby, 
 (1) change the Stated Maturity of the principal of, or any instalment
of principal of or interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon (including any change in the Floating or Adjustable Rate Provision pursuant to which such rate is determined that would reduce such
rate for any period) or any premium payable upon the redemption thereof, 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 502, or change any Place of Payment where, or the coin or currency in which, any Security or any premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the
Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or 
 (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 
 (3) if applicable, make any change that adversely affects the right to convert any security to which the provisions of Article Twelve are applicable or, except as provided in this Indenture, decrease the
conversion rate or increase the conversion price of any such security, or 
 (4) modify any of the provisions of
this Section, Section 513 or Section 907, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security
affected thereby, provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section and Section 907, or
the deletion of this proviso, in accordance with the requirements of Sections 611(b) and 901(8). 

  
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 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which
has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to
affect the rights under this Indenture of the Holders of Securities of any other series. 
 It shall not be necessary for any
Act of Holders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

 

	Section 903.	Execution of Supplemental Indentures. 

 In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be
entitled to receive, and (subject to Section 601) 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. 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 904.	Effect of Supplemental Indentures. 

 Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all
purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 
  

	Section 905.	Conformity with Trust Indenture Act. 

 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 

 

	Section 906.	Reference in Securities to Supplemental Indentures. 

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

  
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	Section 907.	Waiver of Compliance by Holders. 

Anything in this Indenture to the contrary notwithstanding, any of the acts which the Company is required to do, or is prohibited from
doing, by any of the provisions of this Indenture may, to the extent that such provisions might be changed or eliminated by a supplemental indenture pursuant to Section 902 upon consent of holders of not less than a majority in aggregate
principal amount of the then Outstanding Securities of the series affected, be omitted or done by the Company, if there is obtained the prior consent or waiver of the holders of at least a majority in aggregate principal amount of the then
Outstanding Securities of such series. 
 ARTICLE TEN 
 COVENANTS 
  

	Section 1001.	Payment of Principal, Premium and Interest. 

 The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay or cause to be paid the principal of and any premium and interest on the Securities of
that series in accordance with the terms of the Securities and this Indenture. 
  

	Section 1002.	Maintenance of Office or Agency. 

So long as any Securities are Outstanding, the Company will maintain in each Place of Payment for any series of Securities an office or
agency where Securities of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange, where Securities of that series may be surrendered for conversion and
where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office
or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate
Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from
time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for
such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

  
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	Section 1003.	Money for Securities Payments to Be Held in Trust. 

 If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date of the principal of or any premium or interest on any of the
Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so becoming due until such sums shall be paid to such Persons or otherwise
disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 
 Whenever the Company
shall have one or more Paying Agents for any series of Securities, it will, prior to each due date of the principal of or any premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount, such
sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 

The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will (i) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and
(ii) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of that series, and upon the written request of the Trustee, forthwith
pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 
 The
Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such
Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from
all further liability with respect to such money. 
 Any money deposited with the Trustee or any Paying Agent, or then held by
the Company, in trust for the payment of the principal of or any premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the
Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of
the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such
repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan, the City of New York,
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 publication, any unclaimed balance of such money then remaining will be repaid to the Company. 

  
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	Section 1004.	Statement by Officers as to Default. 

 The Company will deliver to the Trustee within 120 days after the end of each fiscal year of the Company ending after the date hereof, a certificate signed by the Company’s principal executive
officer, principal financial officer or principal accounting officer stating whether or not to the best knowledge of the signer thereof the Company is in compliance with all terms, conditions and covenants of this Indenture (without regard to any
period of grace or requirement of notice provided hereunder) and if the signer has obtained knowledge of any continuing default by the Company in the performance, observation or fulfillment of any such term, condition or covenant, specifying each
such default and the nature thereof. 
  

	Section 1005.	Limitations on Liens on Common Stock of Principal Insurance Subsidiaries. 

 As long as any of the Securities remains outstanding, the Company will not, and will not permit any Principal Insurance Subsidiary to, issue, assume, incur or guarantee any indebtedness for borrowed money
secured by a mortgage, pledge, lien or other encumbrance, directly or indirectly, on any of the Common Stock of a Principal Insurance Subsidiary, which Common Stock is owned by the Company or by any Principal Insurance Subsidiary, unless the
Securities and, if the Company so elects, any other indebtedness of the Company ranking on a parity with the Securities, shall be secured equally and ratably with, or prior to, such secured indebtedness for borrowed money so long as it is
outstanding. 
 ARTICLE ELEVEN 
 REDEMPTION OF SECURITIES 
  

	Section 1101.	Applicability of Article. 

Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except
as otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article. 
  

	Section 1102.	Election to Redeem; Notice to Trustee. 

 In case of any redemption at the election of the Company of less than all the Securities of any series, 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, of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of
any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate evidencing
compliance with such restriction. 
  

	Section 1103.	Selection by Trustee of Securities to Be Redeemed. 

 If less than all the Securities of any series are to be redeemed (unless all of the Securities of such series and of a specified tenor are to be redeemed), the particular Securities to be redeemed shall
be selected not more than 45 days prior to the Redemption Date by the Trustee, 

  
 54 

 
from the Outstanding Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized
denomination for Securities of that series. If less than all of the Securities of such series and of a specified tenor are to be redeemed, the particular Securities to be redeemed shall be selected not more than 45 days prior to the Redemption Date
by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance with the preceding sentence. 
 If any Security selected for partial redemption is converted in part before termination of the conversion 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 during a selection of Securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such
selection. 
 The Trustee shall promptly notify the Company 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 amount of such Securities
which has been or is to be redeemed. 
  

	Section 1104.	Notice of Redemption. 

 Notice of
redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, at its address appearing in the Security Register. 

All notices of redemption shall state: 
 (1) the Redemption Date, 
 (2) the Redemption Price, 

(3) if less than all the Outstanding Securities of any series are to be redeemed, the identification (and, in the case of
partial redemption of any Securities, the principal amounts) of the particular Securities to be redeemed, 
 (4)
that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date, 

(5) if applicable, the conversion price, and that the date on which the right to convert the principal of the Securities
or the portions thereof to be redeemed will terminate will be the Redemption Date and the place or places where such Securities may be surrendered for conversion, 

  
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 (6) the place or places where such Securities are to be surrendered for
payment of the Redemption Price, and 
 (7) that the redemption is for a sinking fund, if such is the case.

 Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the
Company’s request, by the Trustee in the name and at the expense of the Company. 
  

	Section 1105.	Deposit of Redemption Price. 

Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own
Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest on, all the Securities
which are to be redeemed on that date, other than any Securities called for redemption on that date which have been converted prior to the date of such deposit. 
 If any Security or portion thereof called for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in trust for the redemption of such Security
or portion thereof shall (subject to any right of the Holder of such Security or any Predecessor Security to receive interest as provided in the last paragraph of Section 307) be paid to the Company upon Company Request or, if then held by the
Company, shall be discharged from such trust. 
  

	Section 1106.	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. Upon surrender of any such Security for redemption in accordance with said notice, such Security
shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that, unless otherwise specified as contemplated by Section 301, installments of interest 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 relevant Record Dates according to their terms and the provisions of
Section 307. 
 If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the
principal and any premium shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 

  
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	Section 1107.	Securities Redeemed in Part. 

Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee
so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount equal
to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
 ARTICLE TWELVE 

Conversion of Securities 
  

	Section 1201.	Applicability of Article. 

 The
provisions of this Article shall be applicable to the Securities of any series which are convertible into shares of Common Stock of the Company, and the issuance of such shares of Common Stock upon the conversion of such Securities, except as
otherwise specified as contemplated by Section 301 for the Securities of such series. 
  

	Section 1202.	Exercise of Conversion Privilege. 

In order to exercise a conversion privilege, the Holder of a Security of a series with such a privilege shall surrender such Security to
the Company at the office or agency maintained for that purpose pursuant to Section 1002, accompanied by written notice to the Company that the Holder elects to convert such Security or a specified portion thereof. Such notice shall also state,
if different from the name and address of such Holder, the name or names (with address) in which the certificate or certificates for shares of Common Stock which shall be issuable on such conversion shall be issued. Securities surrendered for
conversion shall (if so required by the Company or the Trustee) be duly endorsed by or accompanied by instruments of transfer in forms satisfactory to the Company and the Trustee duly executed by the registered Holder or its attorney duly authorized
in writing; and Securities so surrendered for conversion during the period from the close of business on any Regular Record Date to the opening of business on the next succeeding Interest Payment Date (excluding Securities or portions thereof called
for redemption during such period) shall also be accompanied by payment in funds acceptable to the Company of an amount equal to the interest payable on such Interest Payment Date on the principal amount of such Security then being converted, and
such interest shall be payable to such registered Holder notwithstanding the conversion of such Security, subject to the provisions of Section 307 relating to the payment of Defaulted Interest by the Company. As promptly as practicable after
the receipt of such notice and of any payment required pursuant to a Board Resolution and, subject to Section 303, set forth, or determined in the manner provided, in an Officers’ Certificate, or established in one or more indentures
supplemental hereto setting forth the terms of such series of Security, and the surrender of such Security in accordance with such reasonable regulations as the Company may prescribe, the Company shall issue and shall deliver, at the office or
agency at which such Security is surrendered, to such Holder or on its 

  
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written order, a certificate or certificates for the number of full shares of Common Stock issuable upon the conversion of such Security (or specified portion thereof), in accordance with the
provisions of such Board Resolution, Officers’ Certificate or supplemental indenture, and cash as provided therein in respect of any fractional share of such Common Stock otherwise issuable upon such conversion. Such conversion shall be deemed
to have been effected immediately prior to the close of business on the date on which such notice and such payment, if required, shall have been received in proper order for conversion by the Company and such Security shall have been surrendered as
aforesaid (unless such Holder shall have so surrendered such Security and shall have instructed the Company to effect the conversion on a particular date following such surrender and such Holder shall be entitled to convert such Security on such
date, in which case such conversion shall be deemed to be effected immediately prior to the close of business on such date) and at such time the rights of the Holder of such Security as such Security Holder shall cease and the person or persons in
whose name or names any certificate or certificates for shares of Common Stock of the Company shall be issuable upon such conversion shall be deemed to have become the Holder or Holders of record of the shares represented thereby. Except as set
forth above and subject to the final paragraph of Section 307, no payment or adjustment shall be made upon any conversion on account of any interest accrued on the Securities surrendered for conversion or on account of any dividends on the
Common Stock of the Company issued upon such conversion. 
 In the case of any Security which is converted in part only, upon
such conversion the Company shall execute and the Trustee shall authenticate and deliver to or on the order of the Holder thereof, at the expense of the Company, a new Security or Securities of the same series, of authorized denominations, in
aggregate principal amount equal to the unconverted portion of such Security. 
  

	Section 1203.	No Fractional Shares. 

 No
fractional share of Common Stock of the Company shall be issued upon conversions of Securities of any series. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall be
issuable upon conversion shall be computed on the basis of the aggregate principal amount of the Securities (or specified portions thereof to the extent permitted hereby) so surrendered. If, except for the provisions of this Section 1203, any
Holder of a Security or Securities would be entitled to a fractional share of Common Stock of the Company upon the conversion of such Security or Securities, or specified portions thereof, the Company shall pay to such Holder an amount in cash equal
to the current market value of such fractional share computed, (i) if such Common Stock is listed or admitted to unlisted trading privileges on a national securities exchange, on the basis of the last reported sale price regular way on such
exchange on the last trading day prior to the date of conversion upon which such a sale shall have been effected, or (ii) if such Common Stock is not at the time so listed or admitted to unlisted trading privileges on a national securities
exchange, on the basis of the average of the bid and asked prices of such Common Stock in the over-the-counter market, on the last trading day prior to the date of conversion, as reported by the National Quotation Bureau, Incorporated or similar
organization if the National Quotation Bureau, Incorporated is no longer reporting such information, or if not so available, the fair market price as determined by the Board of Directors. For purposes of this Section, “trading day” shall
mean each Monday, Tuesday, Wednesday, Thursday and Friday other than any day on 

  
 58 

 
which the Common Stock is not traded on the New York Stock Exchange, or if the Common Stock is not traded on the New York Stock Exchange, on the principal exchange or market on which the Common
Stock is traded or quoted. 
  

	Section 1204.	Adjustment of Conversion Price. 

The conversion price of Securities of any series that is convertible into Common Stock of the Company shall be adjusted for any stock
dividends, stock splits, reclassification, combinations or similar transactions in accordance with the terms of the supplemental indenture or Board Resolutions setting forth the terms of the Securities of such series. 

Whenever the conversion price is adjusted, the Company shall compute the adjusted conversion price in accordance with terms of the
applicable Board Resolution or supplemental indenture and shall prepare an Officers’ Certificate setting forth the adjusted conversion price and showing in reasonable detail the facts upon which such adjustment is based, and such certificate
shall forthwith be filed at each office or agency maintained for the purpose of conversion of Securities pursuant to Section 1002 and, if different, with the Trustee. The Company shall forthwith cause a notice setting forth the adjusted
conversion price to be mailed, first class postage prepaid, to each Holder of Securities of such series at its address appearing on the Security Register and to any conversion agent other than the Trustee. 

 

	Section 1205.	Notice of Certain Corporate Actions. 

 In case: 
 (a) the Company shall declare a dividend (or any other
distribution) on its Common Stock payable otherwise than in cash out of its retained earnings (other than a dividend for which approval of any shareholders of the Company is required); or 

(b) the Company shall authorize the granting to the holders of its Common Stock of rights, options or warrants to
subscribe for or purchase any shares of capital stock of any class or of any other rights (other than any such grant for which approval of any shareholders of the Company is required); or 

(c) of any reclassification of the Common Stock of the Company (other than a subdivision or combination of its outstanding
shares of Common Stock, or of any consolidation, merger or share exchange to which the Company is a party and for which approval of any shareholders of the Company is required), or of the sale of all or substantially all of the assets of the
Company; or 
 (d) of the voluntary or involuntary dissolution, liquidation or winding up of the Company;

 then the Company shall cause to be filed with the Trustee, and shall cause to be mailed to all Holders at their last addresses as they shall
appear in the Securities Register, at least 20 days (or 10 days in any case specified in clause (a) or (b) above) prior to the applicable record date hereinafter specified, a notice stating (i) the date on which a record is to be
taken for the purpose of such dividend, distribution, rights, options or warrants, or, if a record is not to be taken, the 

  
 59 

 
date as of which the holders of Common Stock of record to be entitled to such dividend, distribution, rights, options or warrants are to be determined, or (ii) the date on which such
reclassification, consolidation, merger, share exchange, sale, dissolution, liquidation or winding up is expected to become effective, and the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their
shares of Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, share exchange, sale, dissolution, liquidation or winding up. If at any time the Trustee shall not be the conversion agent,
a copy of such notice shall also forthwith be filed by the Company with the Trustee. 
  

	Section 1206.	Reservation of Shares of Common Stock. 

 The Company shall at all times reserve and keep available, free from preemptive rights, out of its authorized but unissued Common Stock, for the purpose of effecting the conversion of Securities, the full
number of shares of Common Stock of the Company then issuable upon the conversion of all outstanding Securities of any series that has conversion rights. 
  

	Section 1207.	Payment of Certain Taxes Upon Conversion. 

 The Company will pay any and all taxes that may be payable in respect of the issue or delivery of shares of its Common Stock on conversion of Securities pursuant hereto. The Company shall not, however, be
required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of shares of its Common Stock in a name other than that of the Holder of the Security or Securities to be converted, and no such issue or
delivery shall be made unless and until the person requesting such issue has paid to the Company the amount of any such tax, or has established, to the satisfaction of the Company, that such tax has been paid. 

 

	Section 1208.	Nonassessability. 

 The Company
covenants that all shares of its Common Stock which may be issued upon conversion of Securities will upon issue in accordance with the terms hereof be duly and validly issued and fully paid and nonassessable. 

 

	Section 1209.	Effect of Consolidation or Merger on Conversion Privilege. 

 In case of any consolidation of the Company with, or merger of the Company into or with any other Person, or in case of any sale of all or substantially all of the assets of the Company, the Company or
the Person formed by such consolidation or the Person into which the .Company shall have been merged or the Person which shall have acquired such assets, as the case may be, shall execute and deliver to the Trustee a supplemental indenture providing
that the Holder of each Security then outstanding of any series that is convertible into Common Stock of the Company shall have the right, which right shall be the exclusive conversion right thereafter available to said Holder (until the expiration
of the conversion right of such Security), to convert such Security into the kind and amount of shares of stock or other securities or property (including cash) receivable upon such consolidation, merger or sale by a holder of the number of shares
of Common Stock of the Company into which such Security might have been converted immediately prior to such consolidation, merger or sale, subject to compliance with the other 

  
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provisions of this Indenture, such Security and such supplemental indenture. Such supplemental indenture shall provide for adjustments which shall be as nearly equivalent as may be practicable to
the adjustments provided for in such Security. The above provisions of this Section shall similarly apply to successive consolidations, mergers or sales. It is expressly agreed and understood that anything in this Indenture to the contrary
notwithstanding, if, pursuant to such merger, consolidation or sale, holders of outstanding shares of Common Stock of the Company do not receive shares of common stock of the surviving corporation but receive other securities, cash or other property
or any combination thereof, Holders of Securities shall not have the right to thereafter convert their Securities into common stock of the surviving corporation or the corporation which shall have acquired such assets, but rather, shall have the
right upon such conversion to receive the other securities, cash or other property receivable by a holder of the number of shares of Common Stock of the Company into which the Securities held by such holder might have been converted immediately
prior to such consolidation, merger or sale, all as more fully provided in the first sentence of this Section 1209. Anything in this Section 1209 to the contrary notwithstanding, the provisions of this Section 1209 shall not apply to
a merger or consolidation of another corporation with or into the Company pursuant to which both of the following conditions are applicable: (i) the Company is the surviving corporation and (ii) the outstanding shares of Common Stock of
the Company are not changed or converted into any other securities or property (including cash) or changed in number or character or reclassified pursuant to the terms of such merger or consolidation. 

As evidence of the kind and amount of shares of stock or other securities or property (including cash) into which Securities may properly
be convertible after any such consolidation, merger or sale, or as to the appropriate adjustments of the conversion prices applicable with respect thereto, the Trustee shall be furnished with and may accept the certificate or op n on of an
independent certified public accountant with respect thereto; and, in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely thereon, and shall not be responsible or accountable to any Holder of Securities for any
provision in conformity therewith or approved by such independent certified accountant which may be contained in said supplemental indenture. 
  

	Section 1210.	Duties of Trustee Regarding Conversion. 

 Neither the Trustee nor any conversion agent shall at any time be under any duty or responsibility to any Holder of Securities of any series that is convertible into Common Stock of the Company to
determine whether any facts exist which may require any adjustment of the conversion price, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, whether herein or in any supplemental
indenture, any resolutions of the Board of Directors or written instrument executed by one or more officers of the Company provided to be employed in making the same. Neither the Trustee nor any conversion agent shall be accountable with respect to
the validity or value (or the kind or amount) of any shares of Common Stock of the Company, or of any securities or property, which may at any time be issued or delivered upon the conversion of any Securities and neither the Trustee nor any
conversion agent makes any representation with respect thereto. Subject to the provisions of Section 601, neither the Trustee nor any conversion agent shall be responsible for any failure of the Company to issue, transfer or deliver any shares
of its Common Stock or stock certificates or other securities or property upon the surrender of any Security for the purpose of 

  
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conversion or to comply with any of the covenants of the Company contained in this Article Twelve or in the applicable supplemental indenture, resolutions of the Board of Directors or written
instrument executed by one or more duly authorized officers of the Company. 
  

	Section 1211.	Repayment of Certain Funds Upon Conversion. 

 Any funds which at any time shall have been deposited by the Company or on its behalf with the Trustee or any other paying agent for the purpose of paying the principal of, and premium, if any, and
interest, if any, on any of the Securities (including funds deposited for the sinking fund referred to in Article Three hereof) and which shall not be required for such purposes because of the conversion of such Securities as provided in this
Article Twelve shall after such conversion be repaid to the Company by the Trustee upon the Company’s written request. 

ARTICLE THIRTEEN 

Defeasance and Covenant Defeasance 
  

	Section 1301.	Company’s Option to Effect Defeasance or Covenant Defeasance. 

 The Company may elect, at any time, to have either Section 1302 or Section 1303 applied to the Outstanding Securities of any series, upon compliance with the conditions set forth below in this
Article Thirteen. 
  

	Section 1302.	Defeasance and Discharge. 

 Upon
the Company’s exercise of the option provided in Section 1301 to have this Section 1302 applied to the Outstanding Securities of any series, the Company shall be deemed to have been discharged from its obligations with respect to the
Outstanding Securities of such series as provided in this Section on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that the
Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities of such series and to have satisfied all its other obligations under the Securities of such series and this Indenture insofar as
the Securities of such series are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder:
(1) the rights of Holders of Securities of such series to receive, solely from the trust fund described in Section 1304 and as more fully set forth in such Section, payments in respect of the principal of and any premium and interest on
such Securities of such series when payments are due, (2) the Company’s obligations with respect to the Securities of such series under Sections 304, 305, 306, 1002 and 1003, (3) the rights, powers, trusts, duties and immunities of
the Trustee hereunder, including, without limitation, its rights under Section 607 and (4) this Article Thirteen. Subject to compliance with this Article Thirteen, the Company may exercise its option provided in Section 1301 to have
this Section 1302 applied to the Outstanding Securities of any series notwithstanding the prior exercise of its option provided in Section 1301 to have Section 1303 applied to the Outstanding Securities of such series. 

  
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	Section 1303.	Covenant Defeasance. 

 Upon the
Company’s exercise of the option provided in Section 1301 to have this Section 1303 applied to the outstanding Securities of any series, (1) the Company shall be released from its obligations under Section 1005 and
Section 801 and (2) the occurrence of any event specified in Sections 501(3), 501(4) (with respect to Section 1005 and Section 801) and 501(5) shall be deemed not to be or result in an Event of Default, in each case with
respect to the Outstanding Securities of such series as provided in this Section on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such
Covenant Defeasance means that the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section (to the extent so specified in the case of
Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the
remainder of this Indenture and the Securities of such series shall be unaffected thereby. 
  

	Section 1304.	Conditions to Defeasance or Covenant Defeasance. 

 The following shall be the conditions to application of either Section 1302 or Section 1303 to the Outstanding Securities of any series: 

(1) The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee that
satisfies the requirements contemplated by Section 609 and agrees to comply with the provisions of this Article Thirteen 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 Outstanding Securities of such series, (A) in the case of Securities of such series denominated in U.S. dollars, (i) money in an amount, or (ii) U.S. Government
Obligations that through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (iii) a combination
thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee
(or any such other qualifying trustee) to pay and discharge, the principal of and any premium and interest on the Securities of such series on the respective Stated Maturities, in accordance with the terms of this Indenture and the Securities of
such series. As used herein, “U.S. Government Obligation” means (x) any security that is (i) a direct obligation of the United States of America for the payment of which full faith and credit of the United States of America is
pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality for the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the
United States of America, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act of
1933, as amended) as custodian with respect to any specific payment of principal of or interest on any such U.S. Government Obligation specified in Clause (x) and held by such custodian for the account of the holder of such depositary receipt,
or with respect to any specific payment of principal of or interest on any such U.S. Government Obligation, provided that (except as required by law) such custodian is not authorized to make any deduction

  
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from the amount payable to the Holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or
interest evidenced by such depositary receipt; or (B) in the case of Securities of such series denominated in a currency other than the U.S. dollar, (i) money in such currency in an amount, or (ii) Foreign Government Obligations that
through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in such currency in an amount, or (iii) a combination
thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee
(or any such other qualifying trustee) to pay and discharge, the principal of and any premium and interest on the Securities of such series on the respective Stated Maturities, in accordance with the terms of this Indenture and the Securities of
such series. As used herein, “Foreign Government Obligation” means (x) any security that is (i) a direct obligation of the government that issued such currency for the payment of which full faith and credit of such government is
pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality for such government the payment of which is unconditionally guaranteed as a full faith and credit obligation by such government,
which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as
custodian with respect to any specific payment of principal of or interest on any such Foreign Government Obligation specified in Clause (x) and held by such custodian for the account of the holder of such depositary receipt, or with respect to
any specific payment of principal of or interest on any such Foreign Government Obligation, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the Holder of such depositary
receipt from any amount received by the custodian in respect of the Foreign Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt. 

(2) In the case of an election under Section 1302, the Company shall have delivered to the Trustee an Opinion of
Counsel stating that the Holders of the Outstanding Securities of such series will not recognize gain or loss for Federal income tax purposes as a result of the deposit, Defeasance and discharge to be effective with respect to the Securities of such
series and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and discharge were not to occur. 

(3) In the case of an election under Section 1303, the Company shall have delivered to the Trustee an Opinion of
Counsel to the effect that the Holder of the Outstanding Securities of such series will not recognize gain or loss for Federal income tax purposes as result of the deposit and Covenant Defeasance to be effected with respect to the Securities of such
series and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 

  
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 (4) The Company shall have delivered to the Trustee an Officers’
Certificate to the effect that the Securities of such series, if then listed on any securities exchange, will not be delisted as a result of such deposit. 
 (5) No Event of Default or event that (after notice or lapse of time or both) would become an Event of Default shall have occurred and be continuing at the time of such deposit or, with regard to any
Event of Default or any such event specified in Sections 501(6) and 501(7), at any time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day).

 (6) The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel,
each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 
 (7) Such Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the Investment Company Act of 1940, as amended,
unless such trust shall be qualified under such Act or exempt from regulation thereunder. 
  

	Section 1304.	Deposited Money and U.S. Government Obligations or Foreign Government Obligations to be Held In Trust; Other Miscellaneous Provisions. 

Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government Obligations or Foreign Government
Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 1306, the Trustee and any such other trustee are referred to collectively as the
“Trustee”) pursuant to Section 1304 in respect of the Securities of any Defeasible Series shall be held in trust and applied by the Trustee, in accordance with the provisions of the Securities of such series and this Indenture, to the
payment, either directly or through any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of Securities of such series, of all sums due and to become due thereon in respect of
principal and any premium and interest, but money so held in trust need not be segregated from other funds except to the extent required by law. 
 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations or Foreign Government Obligations deposited pursuant to
Section 1304 or the principal and interest receive in respect thereof other than any such tax, fee or other charge that by law is for the account of the Holders of Outstanding Securities. 

Anything in this Article Thirteen to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon
Company Request any money or U.S. Government Obligations or Foreign Government Obligations held by it as provided in Section 1304 with respect to Securities of any Defeasible Series that, 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 that would then be required to be deposited to effect an equivalent Defeasance or Covenant Defeasance with
respect to the Securities of such series. 

  
 65 

	Section 1305.	Reinstatement. 

 If the Trustee
or the Paying Agent is unable to apply any money in accordance with this Article Thirteen with respect to the Securities of any series by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Company’s obligations under this Indenture and the Securities of such series shall be revived and reinstated as though no deposit had occurred pursuant to this Article Thirteen with respect to Securities
of such series until such time as the Trustee or Paying Agent is permitted to apply all money held in trust pursuant to Section 1305 with respect to Securities of such series in accordance with this Article Thirteen; provided, however, that if
the Company makes any payment of principal of or any premium or interest on any Security of such series following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of Securities of such series to
receive such payment from the money so held in trust. 
 ARTICLE FOURTEEN 

Sinking Funds 
  

	Section 1401.	Applicability of Article. 

 The
provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a series except as otherwise specified as contemplated by Section 301 for Securities of such series. 

The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a
“mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment”. If provided for by the terms of
Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1402. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms
of Securities of such series. 
  

	Section 1402.	Satisfaction of Sinking Fund Payments with Securities. 

 The Company (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may apply as a credit Securities of a series which have been converted
pursuant to Article Twelve or Securities of a series which have been acquired or redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant
to the terms of such Securities or otherwise, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by
the terms of such series; provided that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through
operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

  
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	Section 1403.	Redemption of Securities for Sinking Fund. 

 Not less than 45 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing
sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities of
that series pursuant to Section 1402 and will also deliver to the Trustee any Securities to be so delivered. Not less than 15 nor more than 45 days before each such sinking fund payment date the Trustee shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 1104. Such
notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107. 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same
instrument. 
  
  

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

							
		 		 	AETNA LIFE AND CASUALTY COMPANY
				
		 		 	By	 	 /s/ ROBERT H. KULLAS

		 		 		 	Vice President – Finance and Treasurer
				
	Attest:	 		 		 	
				
	 /s/ JEAN M. WAGGETT
	 		 		 	
			
		 		 	STATE STREET BANK AND TRUST COMPANY OF CONNECTICUT, NATIONAL ASSOCIATION
				
		 		 	By	 	 /s/ W. JEFFREY KRAMER

		 		 		 	Assistant Vice President
				
	Attest:	 		 		 	
				
	 /s/ CAUNA M. ANTONUCCI
	 		 		 	

  
 68 

			
	STATE OF CONNECTICUT	  	)
		  	) ss.:
	COUNTY OF HARTFORD	  	)

 On the 10th day of August, 1993, before me personally came Robert H. Kullas, to me known, who, being by
me duly sworn, did depose and say that (s)he is Vice President – Finance and Treasurer of AETNA LIFE AND CASUALTY COMPANY, one of the corporations described in and which executed the foregoing instrument; that (s)he knows the seal of said
corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation, and that (s)he signed her/his name thereto by like authority. 

 

	
	 /s/    CYNTHIA L.
DROZD        

	Notary Public

  

			
	STATE OF CONNECTICUT	  	):
		  	) ss.:
	COUNTY OF HARTFORD	  	)

 On the 12th day of August, 1993, before me personally came W. Jeffrey Kramer, to me known, who, being by
me duly sworn, did depose and say that (s)he is Assistant Vice President of STATE STREET BANK AND TRUST COMPANY OF CONNECTICUT, NATIONAL ASSOCIATION, one of the corporations described in and which executed the foregoing instrument; that (s)he knows
the seal of said corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation, and that (s)he signed her/his name thereto by like authority.

  

	
	 /s/    BRIAN T.
SMITH        

	Notary Public

  
 69 

			
	STATE OF CONNECTICUT	  	):
		  	)ss.:
	COUNTY OF HARTFORD	  	)

 On the 10th day of August, 1993, before me personally came Robert H. Kullas, to me known, who, being by
me duly sworn, did depose and say that (s)he is Vice President – Finance and Treasurer of AETNA LIFE AND CASUALTY COMPANY, one of the corporations described in and which executed the foregoing instrument; that (s)he ,ows the seal of said
corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation, and that (s)he signed her/his name thereto by like authority. 

 

	
	 /s/    CYNTHIA L.
DROZD        

	Notary Public

  

			
	STATE OF CONNECTICUT	  	):
		  	)ss.:
	COUNTY OF HARTFORD	  	)

 On the 12th day of August, 1993, before me personally came W. Jeffrey Kramer, to me known, who, being by
me duly sworn, did depose and say that (s)he is Assistant Vice President of STATE STREET BANK AND TRUST COMPANY OF CONNECTICUT, NATIONAL ASSOCIATION, one of the corporations described in and which executed the foregoing instrument; that (s)he knows
the seal of said corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation, and that (s)he signed her/his name thereto by like authority.

  

	
	 /s/    BRIAN T.
SMITH        

	Notary Public

  
 70First Indenture Supplement dated as of August 1, 1996

 Exhibit 10.5 

 
  

 
  

AETNA SERVICES, INC. 
 (formerly Aetna Life and Casualty Company) 
 AETNA INC. 

AND 
 STATE
STREET BANK AND TRUST COMPANY OF CONNECTICUT, 
 NATIONAL ASSOCIATION, AS TRUSTEE 

 
  

FIRST INDENTURE SUPPLEMENT 
 Dated as of August 1, 1996 
 to 

INDENTURE 
 Dated
as of August 1, 1993 
 Between 
 Aetna Services, Inc. 
 (formerly Aetna Life and Casualty Company) 

and 
 State
Street Bank and Trust Company of Connecticut, 
 National Association, as Trustee 

 
  

 
  

FIRST INDENTURE SUPPLEMENT 
 FIRST INDENTURE SUPPLEMENT, dated as of August 1, 1996, among AETNA SERVICES, INC. (formerly Aetna Life and Casualty Company), a corporation duly organized and validly existing under the laws of the
State of Connecticut (the “Company”), AETNA INC., a corporation duly organized and validly existing under the laws of the State of Connecticut (the “Guarantor”), and STATE STREET BANK AND TRUST COMPANY OF CONNECTICUT, NATIONAL
ASSOCIATION, as trustee (the “Trustee”). 

 RECITALS OF THE COMPANY AND THE GUARANTOR 

The Company and the Trustee have heretofore executed and delivered an Indenture dated as of August 1, 1993 (the
“Indenture”), which provides for the issuance from time to time by the Company of its unsecured debentures, notes or other evidences of indebtedness in one or more series (“Securities”, as more fully defined in the Indenture).

 Pursuant to an Agreement and Plan of Merger dated as of March 30, 1996, as amended by Amendment No. 1 thereto dated
as of May 30, 1996 among the Company, the Guarantor, U.S. Healthcare, Inc., Antelope Sub, Inc., a wholly owned subsidiary of the Guarantor (“Aetna Sub”), and New Merger Corporation, a wholly owned subsidiary of the Guarantor, on
July 19, 1996 Aetna Sub was merged with and into the Company with the result that the Company is as of the date of this First Indenture Supplement a direct wholly owned subsidiary of the Guarantor. In connection with such merger the
Company’s Certificate of Incorporation was amended to change its name to Aetna Services, Inc. 
 As of the date of this
First Indenture Supplement, the only Securities of the Company that have been issued and remain outstanding under the Indenture consist of $200 million original principal amount of 6 3/8% Notes due August 15, 2003 (the “6 3/8%
Notes”), $200 million original principal amount of 6 3/4% Debentures due September 15, 2013 (the “6 3/4% Debentures”) and $200 million original principal amount of 7 1/4% Debentures due August 15, 2023
(the “7 1/4% Debentures”). 
 This First Indenture Supplement amends the Indenture, pursuant to Section 901
thereof: (i) to provide for the full and unconditional guarantee by the Guarantor of the due and punctual payment of the principal of, premium, if any, and interest on the 6 3/8% Notes, the 6 3/4% Debentures and the 7 1/4%
Debentures previously issued under the Indenture and (ii) to make certain other changes to the terms of the Indenture. 

All acts and proceedings required by law, by the Indenture and by the certificates of incorporation and bylaws of the Company and the
Guarantor necessary to constitute this First Indenture Supplement a valid and binding agreement for the uses and purpose herein set forth in accordance with its terms have been done and performed, and the execution and delivery of this First
Indenture Supplement have in all respects been duly authorized. 
 NOW, THEREFORE, in consideration of the foregoing and other
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the holders of the Securities. 

ARTICLE 1 

AMENDMENTS 

SECTION 101. The Guarantor is hereby made a party to the Indenture. 

 SECTION 102. Section 101 of the Indenture is hereby amended to add to the definitions
set forth in such Section the following additional definitions in the appropriate alphabetical order: 
 First Indenture
Supplement: 
 The term “First Indenture Supplement” shall mean the First Indenture Supplement dated as of
August 1, 1996 to this Indenture. 
 Guarantee: 
 The term “Guarantee” shall mean the guarantee set forth in Section 1501 hereof, including any evidence of such guarantee by endorsement on any Guaranteed Security pursuant to
Section 1502 hereof. The Guarantee shall be deemed part of the Guaranteed Securities. 
 Guaranteed Securities: 

The term “Guaranteed Securities” shall mean, collectively, the $200 million in original principal amount of the
$200 million in original principal amount of 6 3/8% Notes due August 15, 2003, 6 3/4% Debentures due September 15, 2013, and the $200 million in original principal amount of 7 1/4% Debentures due August 15,
2023 issued under the Indenture prior to the date of the First Indenture Supplement and remaining outstanding as of such date and “Guaranteed Security” means any of such Securities. 

Guarantor: 

The term “Guarantor” shall mean AETNA INC., a Connecticut corporation, and, subject to the provisions of Section 1506,
shall also include its successors and assigns. 
 SECTION 103. (a) The definition of “Board of Directors” set forth in
Section 101 of the Indenture is hereby amended by inserting the words “or of the Guarantor, as the case may be” immediately after the words “the Company” appearing therein. 

(b) The definitions of “Board Resolution”, “Officers’ Certificate” and “Company Request” or
“Company Order” set forth in Section 101 of the Indenture are hereby amended by inserting the words “or of the Guarantor, as the case may be” immediately after the words “the Company” appearing therein. 

(c) The definition of “Opinion of Counsel” set forth in Section 101 of the Indenture is hereby amended by inserting the
words “, or the Guarantor”, immediately after the words “the Company” therein. 
 SECTION 104. A new Article
Fifteen is added to the Indenture to read in its entirety as follows: 

  
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 ARTICLE FIFTEEN 
 Guarantee 
 SECTION 1502. Guarantee. The Guarantor hereby
unconditionally guarantees to each Holder of a Guaranteed Security authenticated and delivered by or on behalf of the Trustee the due and punctual payment of the principal of, premium, if any, and interest on such Guaranteed Security, when and as
the same shall become due and payable, whether at Stated Maturity, by declaration of acceleration, call for redemption or otherwise, according to the terms of such Guaranteed Securities and of the Indenture. In case of default by the Company in the
payment of any such principal, premium or interest, the Guarantor hereby agrees duly and punctually to make any such payment when and as the same shall become due and payable, whether at Stated Maturity, by declaration of acceleration, call for
redemption or otherwise, and as if such payment was made by the Company. The Guarantor hereby agrees that its obligations hereunder shall be as if it were principal debtor and not merely surety, and shall be absolute and unconditional, irrespective
of, and shall be unaffected by, the validity, legality or enforceability of any such Guaranteed Security or the Indenture, the absence of any action to enforce the same, or any waiver, modification, indulgence or consent granted to the Company with
respect thereto by the Holder of any Guaranteed Security of any series or by the Trustee, the recovery of any judgment against the Company or any action to enforce the same, or any other circumstance that might otherwise constitute a legal or
equitable discharge or defense of a surety or guarantor; provided, however, that notwithstanding the foregoing, no such waiver, modification or indulgence shall, without the consent of the Guarantor, increase the principal amount of a Guaranteed
Security or the interest rate thereon or increase any premium payable upon redemption thereof. The Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Company,
any right of set-off or counterclaim, any right to require a proceeding first against the Company, protest or notice with respect to any Guaranteed Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants that this
Guarantee will not be discharged as to any Guaranteed Security except by payment in full of the principal of (premium, if any) and interest on such Guaranteed Security. 

The Guarantor shall be subrogated to all rights of a Holder of a Guaranteed Security against the Company in respect of any
amounts paid to such Holder by the Guarantor pursuant to the 

  
 -3-

 
provisions of the Guarantee; provided, however, that the Guarantor shall not, without the consent of all Holders of Guaranteed Securities of such series be entitled to enforce, or to receive, any
payments arising out of or based upon such right of subrogation until the principal of, premium, if any, and interest then due and payable on all Guaranteed Securities of the relevant series shall have been irrevocably paid in full in accordance
with the terms of such Guaranteed Securities. 
 The Guarantee is a guarantee of payment when due and not of
collection. The Guarantee shall continue to be effective, or be reinstated, as the case may be, in respect of any Guaranteed Securities if at any time payment, or any part thereof, of such Guaranteed Security is rescinded or must otherwise be
restored or returned by the Holder of such Guaranteed Security or any trustee for such Holder upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Company or any other entity, or upon or as a result of the appointment
of a receiver, intervenor or conservator of, or trustee or similar officer for, the Company or any other entity or any substantial part of their respective property, or otherwise, all as though such payments had not been made. 

SECTION 1502. Execution of Guarantees. At the time that any Guaranteed Security is authenticated and delivered by the
Trustee after the date of the First Indenture Supplement in connection with the registration of transfer, exchange or replacement of a Guaranteed Security pursuant to Section 304, 305 or 306 of this Indenture, as evidence of the Guarantee set
forth in Section 1501 hereof, the Guarantor hereby agrees that notation of such Guarantee shall be endorsed on the reverse of such Guaranteed Security in the form set forth in Section 1503 hereof. The Guarantee shall be executed on behalf
of the Guarantor by its Chairman, a Vice Chairman, its President, any Vice President, its Treasurer or Assistant Treasurer under its corporate seal attested by its Corporate Secretary or one of its Assistant Corporate Secretaries. The signatures of
any or all of these officers on the Guarantees may be manual or by facsimile and may be imprinted or otherwise reproduced on the Guaranteed Security. The seal of the Guarantor may be in the form of a facsimile thereof and may be impressed, affixed,
imprinted or otherwise reproduced on the Guaranteed Securities. 
 Guarantees bearing the manual or facsimile
signatures of individuals who were at any time the proper officers of the Guarantor shall bind the Guarantor notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of the
Guaranteed Securities on which such Guarantees were endorsed or did not hold such offices at the date of such Guaranteed Securities. 

  
 -4-

 The Guarantor hereby agrees that the Guarantee set forth in
Section 1501 hereof shall remain in full force and effect and shall apply to each Guaranteed Security executed, authenticated, issued and delivered under this Indenture, whether or not a notation of the Guarantee is endorsed on such Guaranteed
Security. 
 The execution and delivery by the Company and the Guarantor of the First Indenture Supplement to the
Trustee shall constitute due delivery of the Guarantee set forth herein on behalf of the Guarantor with respect to all outstanding Guaranteed Securities. However, the Guarantee shall not be valid or become obligatory for any purpose with respect to
any specific Guaranteed Security unless the Certificate of Authentication on such Guaranteed Security provided for in Section 205 of this Indenture shall have been signed by the Trustee. 

SECTION 1503. Form of Notation of Guarantee. The Guarantee shall be endorsed on the Guaranteed Securities pursuant to
Section 1502 hereof in the following form: 
 [Form of Notation of Guarantee] 

GUARANTEE 
 OF

 AETNA INC. 
 Aetna Inc., a Connecticut corporation (herein called the “Guarantor”, which term includes any successor corporation under the Indenture referred to in the Security upon which this Guarantee is
endorsed), for value received, hereby unconditionally guarantees to the Holder of the Security upon which this Guarantee is endorsed the due and punctual payment of the principal of, premium, if any, and interest on said Security, when and as the
same shall become due and payable, whether at Stated Maturity or upon declaration of acceleration, call for redemption or otherwise, according to the terms thereof and of the Indenture dated as of August 1, 1993, as amended (herein called the
“Indenture”), between Aetna Services, Inc. (herein called the “Company”) and State Street Bank and Trust Company of Connecticut, National Association, as Trustee and to which the Guarantor became a party pursuant to a First
Indenture Supplement dated as of August 1, 1996. In case of the failure of the Company punctually to make any such payment of principal, premium or interest, the Guarantor hereby agrees to pay or to cause any such payment to be made

  
 -5-

 
punctually when and as the same shall become due and payable, whether at Stated Maturity, by declaration of acceleration, call for redemption or otherwise, and as if such payment were made by the
Company. The Guarantor hereby agrees that its obligations hereunder shall be as if it were principal debtor and not merely surety, and shall be absolute and unconditional, irrespective of, and shall be unaffected by, the validity, legality or
enforceability of said Security or the Indenture, or the absence of any action to enforce the same, or any waiver, modification, indulgence or consent granted to the Company with respect thereto by the Holder of said Security or by the Trustee, the
recovery of any judgment against the Company or any action to enforce the same or any other circumstance that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor; provided, however, that notwithstanding the
foregoing, no such waiver, modification or indulgence shall, without the consent of the Guarantor, increase the principal amount of said Security or the interest rate thereon or increase any premium payable upon redemption thereof. The Guarantor
hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of bankruptcy of the Company, any right of set-off or to counterclaim, any right to require a proceeding first against the Company, protest or notice
with respect to said Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants that this Guarantee will not be discharged except by payment in full of the principal of, and premium, if any, and interest on said
Security. 
 The Guarantor shall be subrogated to all rights of the Holder against the Company in respect of any
amounts paid to such Holder by the Guarantor pursuant to the provisions of this Guarantee, provided, however, that the Guarantor shall not, without the consent of all Holders of all outstanding Securities of the same series issued under the
Indenture, be entitled to enforce, or to receive, any payments arising out of, or based upon, such right of subrogation until the principal of, premium, if any, and interest then due and payable on all Securities of the same series issued under the
Indenture shall have been irrevocably paid in full in accordance with the terms of such Securities. 
 This
Guarantee is a guarantee of payment when due and not of collection. This Guarantee shall continue to be effective, or be reinstated, as the case may be, in respect of said Security if at any time payment, or any part thereof, of said Security is
rescinded or must otherwise be restored or returned by the Holder of said Security or any trustee for said Holder upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the

  
 -6-

 
Company or any other entity, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Company or any other entity or any
substantial part of their respective property, or otherwise, all as though such payments had not been made. 
 No
reference herein to such Indenture and no provision of this Guarantee or of such Indenture shall alter or impair the guarantee of the Guarantor, which is absolute and unconditional, of the due and punctual payment of the principal of, and premium,
if any, and interest on the Security upon which this Guarantee is endorsed at the times, place and rate, and in the cash or currency prescribed herein. 
 This Guarantee shall be governed by and construed in accordance with the laws of the State of New York, but without regard to principles of conflicts of laws. 

This Guarantee shall not be valid or become obligatory for any purpose with respect to any Security unless the certificate
of authentication on said Security shall have been manually signed by or on behalf of the Trustee under the Indenture. 
 All terms used in this Guarantee which are defined in such Indenture shall have the meanings assigned to them in such Indenture. 

IN WITNESS WHEREOF, Aetna Inc. has caused the execution hereof in its corporate name by its duly authorized officers.

  

			
	Aetna Inc.
		
	By	 	  

  

	
	[Seal]
	
	Attest:
	
	  

	[Assistant] Corporate Secretary

  
 -7-

 SECTION 1504. Reports by the Guarantor. The Guarantor shall file with the
Trustee and the Commission, and transmit to Holders. such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant to such Act;
provided that any such information, documents or reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is so required to be filed
with the Commission. 
 SECTION 1505. Guarantor’s Statement as to Compliance; Notice of Certain Events of
Default. The Guarantor will deliver to the Trustee within 120 days after the end of each fiscal year of the Guarantor ending after the date of this First Indenture Supplement, a certificate signed by the Guarantor’s principal executive
officer, the principal financial officer or the principal accounting officer stating whether or not to the best knowledge of the signer thereof the Guarantor is in compliance with all terms, conditions and covenants of the Indenture (without regard
to any period of grace or requirement of notice provided thereunder) and, if the signer has obtained knowledge of any continuing default by the Guarantor in the performance, observance or fulfillment of any such term, condition or covenant,
specifying each such default and the nature thereof. 
 SECTION 1506. Guarantor May Consolidate, Etc., Only on
Certain Terms. The Guarantor shall not consolidate with or merge into any other Person or sell its properties and assets as, or substantially as, an entirety to any Person, and the Guarantor shall not permit any Person to consolidate with or merge
into the Guarantor, unless: 
 (1) in the case the Guarantor shall consolidate with or merge into another Person
(including, without limitation, the Company) or sell its properties and assets as, or substantially as, an entirety to any Person (including, without limitation, the Company), the Person formed by such consolidation or into which the Guarantor is
merged or the Person which purchases the properties and assets of the Guarantor as, or substantially, as an entirety shall be a corporation, partnership or trust, shall be organized and validly 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, in form satisfactory to the Trustee, the

  
 -8-

 
due and punctual performance of the obligations of the Guarantor under the Guarantee of the Guaranteed Securities then outstanding and the performance or observance of every covenant of this
Indenture on the part of the Guarantor to be performed or observed, by supplemental indenture satisfactory in form to the Trustee, executed and delivered to the Trustee, by the Person (if other than the Guarantor) formed by such consolidation or
into which the Guarantor shall have been merged or by the corporation which shall have acquired the Guarantor’s assets; 
 (2) immediately after giving effect to such transaction, no Event of Default shall have happened and be continuing; and 

(3) the Guarantor has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
such consolidation, merger, or sale and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Section 1506 and that all conditions precedent herein provided for relating to
such transaction have been complied with. 
 Upon any consolidation of the Guarantor with, or merger of the
Guarantor into, any Person or any sale of the properties and assets of the Guarantor as, or substantially as, an entirety in accordance with this Section 1506, the successor Person formed by such consolidation, or into which the Guarantor is
merged or to which such sale is made shall succeed to, and be substituted for, and may exercise every right and power of, the Guarantor under this Indenture with the same effect as if such successor Person had been named as the Guarantor herein, and
thereafter, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Guaranteed Securities. 
 SECTION 1507. Personal Immunity from Liability of Incorporators, Stockholders, Etc. No recourse shall be had for the payment of any obligations of the Guarantor with respect to the Guaranteed Securities,
the Guarantee or this Indenture or any indenture supplemental hereto, against any incorporator, or against any past, present or future stockholder, director or officer, as such, of the Guarantor or of any successor corporation, whether by virtue of
any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being expressly waived and released as a condition of, and as consideration for, the execution of the First Indenture
Supplement by the Guarantor and the issue of the Guarantee. 

  
 -9-

 SECTION 105. Section 102 of the Indenture is hereby amended by inserting the words
“and Section 1505” after the words “Section 1004” in the second paragraph of such section. 

SECTION 106. Section 105 of the Indenture is hereby amended by inserting the words “or the Guarantor” after the words
“the Company” each time such words appear in subparagraphs (1) and (2) thereof. The Trustee hereby agrees that, substantially simultaneously with its furnishing to the Company any notice or communication under the Indenture, as
amended hereby, the Trustee shall furnish a copy thereof to the Guarantor. The Company hereby agrees that, substantially with its receiving or furnishing any notice or communication under the Indenture, as amended hereby, the Company will provide a
copy thereof to the Guarantor. 
 SECTION 107. Section 106 of the Indenture is hereby amended as follows: 

(a) The words “, the Guarantor” are inserted after the word “Company” in the ninth line and after the second
reference to “the Company” in the twelfth line of the first paragraph thereof. 
 (b) The words “and the
Guarantor” are inserted after the first reference to the words “the Company” in the twelfth line of the first paragraph thereof. 
 SECTION 108. Section 109 of the Indenture is hereby amended by adding the words “or the Guarantor” after the words “the Company”. 

SECTION 109. Section 308 of the Indenture is hereby amended by inserting (i) the words “the Guarantor,” after the
word “Company” in the second, third and eighth lines thereof and (ii) the words “or the Guarantor” after the words “the Company” in the ninth line thereof. 

SECTION 110. Section 401 of the Indenture is hereby amended (i) by adding the words “and the Guarantor” after the
words “the Company” in the last paragraph of such Section and (ii) by adding the following as a new penultimate paragraph of such Section: 
 “In the event the Company exercises its rights under this Section 401 with respect to a series of Guaranteed Securities, upon satisfaction by the Company of the conditions set forth in this
Section 401 with respect to such series, the Guarantor’s obligations under its Guarantees with respect to such series of Guaranteed Securities shall likewise be satisfied and discharged and the Trustee, at the expense of the Company, shall
execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to such series of Guaranteed Securities.” 
 SECTION 111. Section 402 of the Indenture is hereby amended by inserting the words “(and, in respect of the Guaranteed Securities, the Guarantee)” after the words “securities” in
the fourth line thereof. 
 SECTION 112. Section 509 of the Indenture is hereby amended by inserting the words “the
Guarantor,” after the words “the Company,” therein. 

  
 -10-

 SECTION 113. Section 603 of the Indenture is hereby amended by inserting the words
“or of the Guarantor, as the case may be” after the words “the Company” in paragraph (b) of such section. 
 SECTION 114. Section 605 of the Indenture is hereby amended by inserting the words “or the Guarantor” after the words “the Company” in such section. 

SECTION 115. Section 607 of the Indenture is hereby amended by replacing the words “The Company agrees” with “The
Company and the Guarantor, jointly and severally, agree” in the first line thereof. 
 SECTION 116. (a) Paragraph
(b) of Section 610 of the Indenture is hereby amended by inserting the words “and the Guarantor” after the words “the Company” in the first sentence thereof. 

(b) Paragraph (c) of Section 610 of the Indenture is hereby amended by inserting the words “and to the Guarantor”
after the words “the Company” in such section. 
 (c) Paragraph (d) of Section 610 of the Indenture is
hereby amended as follows: 
 (i) The words “or the Guarantor” are inserted after the words “the
Company” in subclause (1) and (2) of such paragraph. 
 (ii) The words “and the
Guarantor” are inserted after the words “the Company” in the first line immediately following subclause (3) of such paragraph. 
 (d) Paragraph (e) of Section 610 of the Indenture is hereby amended by inserting the words “and the Guarantor” after the words “the Company” each time such words appear in
such paragraph. 
 SECTION 117. Section 611 of the Indenture is hereby amended (i) by inserting the words “and
the Guarantor” after the words “the Company” each time such words appear in paragraphs (a) and (c) of such section, and (ii) by inserting the words “, the Guarantor” after the words “the Company”
each time such words appear in paragraph (b) of such section. 
 SECTION 118. Section 901 of the Indenture is hereby
amended as follows: 
 (a) The words “the Guarantor, when authorized by a Board Resolution,” are inserted after the
words “Board Resolution,” in the second line of such section. 
 (b) The words “or the Guarantor” are
inserted after the words “the Company” each time such words appear in paragraphs (1) and (2) of such section. 
 SECTION 119. Section 902 of the Indenture is hereby amended by inserting the words “the Guarantor, when authorized by a Board Resolution” after the words “Board Resolution,” in
the fifth line of the first paragraph of such section. 

  
 -11-

 SECTION 120. Section 907 of the Indenture is hereby amended by inserting the words
“or the Guarantor” after the words “the Company” each time such words appear in such section. 
 SECTION
121. Article Thirteen of the Indenture is hereby amended as follows: 
 (a) The words “and, in the case such
option is exercised with respect to a series of Guaranteed Securities, the Guarantor shall be deemed to have been discharged from its obligations with respect to the Outstanding Guaranteed Securities of such series and its Guarantee in respect
thereof, all” are inserted after the words “of such series” in the fifth line of Section 1302. 
 (b) The words “and, in the case such option is exercised with respect to a series of Guaranteed Securities, the Guarantor” are inserted after the words “the Company” in the ninth line
of Section 1302. 
 (c) The words “and, if applicable, the Guarantee of the Guarantor in respect
thereof” are inserted after the words “of such series” in the eleventh, twelfth and thirteenth lines of Section 1302. 
 (d) The word “its” in the eleventh line of Section 1302 is hereby replaced with the word “their”. 

(e) The words (i) “and, if such option is exercised with respect to the Guaranteed Securities, the Guarantor
shall be released from its obligations under Section 1506” are inserted after the words “Section 801” in the fifth line of Section 1303 and (ii) “and the Guarantor” are inserted after the words “the
Company” in the thirteenth line of Section 1303. 
 (f) The words “(or, in the case of the
Guaranteed Securities, the Company or the Guarantor)” are inserted after the words “The Company” in the first line of clause (1) of such Section 1304. 

(g) The words (i) “or the Guarantor” are inserted after the words “the Company” in the twelfth
line of the first paragraph of Section 1305, (ii) “or the Guarantor, as the case may be,” are inserted after the word “Company” in the third line of the third paragraph of Section 1305 and (iii) “and, if
applicable, any related Guarantee of such Securities” are inserted after the words “of such series” in the last line of the third paragraph of Section 1305. 

(h) The words (i) “and, if applicable, the Guarantor’s” are inserted after the words “the
Company’s” in the sixth line of Section 1306, (ii) “and, if applicable, any related Guarantee of the Guarantor” are inserted after the words “of such series” in the seventh line of Section 1306,
(iii) “or, in the case of a series of Guaranteed Securities, if the Guarantor makes any payment in respect thereof pursuant to its Guarantee of such Guaranteed Securities” are inserted after the words “of its obligations” in
the sixteenth line of Section 1306 and (iv) “or the Guarantor, as the case may be,” are inserted after the words “the Company” in the sixteenth line of Section 1306. 

  
 -12-

 ARTICLE 2 
 MISCELLANEOUS 
 SECTION 201. Effectiveness. This First Indenture Supplement shall
take effect as of the date hereof. 
 SECTION 202. Indenture Ratified. Except as herein expressly provided, the Indenture is in
all respects ratified and confirmed by the Company and the Trustee and all the terms, provisions and conditions thereof are and will remain in full force and effect. 
 SECTION 203. Execution by the Trustee. The Trustee has executed this First Indenture Supplement only upon the terms and conditions set forth in the Indenture. Without limiting the generality of the
foregoing, the Trustee shall not be responsible for the correctness of the recitals herein contained, which shall be taken as the statements of the Company and the Guarantor, and the Trustee makes no representation and shall have no responsibility
for, and in respect of, the validity or sufficiency of this First Indenture Supplement or the execution thereof by the Company or the Guarantor. 
 SECTION 204. Governing Law. This First Indenture Supplement shall be governed by and construed in accordance with the laws of the State of New York, but without regard to principles of conflicts of laws.

 SECTION 205. Execution in Counterparts. This First Indenture Supplement may be executed in any number of counterparts, each
of which shall be an original, but such counterparts shall together constitute but one instrument. 

  
 -13-

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

							
		 		 	AETNA SERVICES, INC.
	[Seal]	 		 	
		 		 	 By /s/ Alfred P. Quirk, Jr.

		 		 	Alfred P. Quirk, Jr.
		 		 	Vice President-Corporate Finance
				
	Attest:	 		 		 	
				
	 /s/ Paige L. Falasco
	 		 		 	
			
		 		 	AETNA INC.
	[Seal]	 		 	
		 		 	 By /s/ Alfred P. Quirk, Jr.

		 		 	Alfred P. Quirk, Jr.
		 		 	Vice President-Corporate Finance
				
	Attest:	 		 		 	
				
	 /s/ Paige L. Falasco
	 		 		 	
			
	[Seal]	 		 	STATE STREET BANK AND TRUST COMPANY OF CONNECTICUT, NATIONAL ASSOCIATION, as Trustee
				
		 		 	By	 	 /s/ James E. Mogavero

				
	Attest:	 		 		 	
				
	 /s/ Andrew M. Sinasky
	 		 		 	

  
 -14-

			
	State of Connecticut	  	
	County of Hartford	  	ss:

 On the 1st day of August, 1996, before me personally came Alfred P. Quirk, Jr., to me known, who, being
by me duly sworn, did depose and say that [he] [she] resides at 44 Stonegate, Farmington, CT 06032, that [he] [she] is the Vice President, Corporate Finance of Aetna Services, Inc., one of the corporations described in and which executed the above
instrument; that [he] [she] knows the corporate seal of said corporation; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation, and that [he] [she]
signed [his] [her] name thereto by like authority. 
  

	
	 /s/    Joanne R.
Jensen    9-1-99    

	Notary Public

  

			
	State of Connecticut	  	
	County of Hartford	  	ss:

 On the 1st day of August, 1996, before me personally came Alfred P. Quirk, Jr., to me known, who, being
by me duly sworn, did depose and say that [he] [she] resides at 44 Stonegate, Farmington, CT 06032, that [he] [she] is the Vice President, Corporate Finance of Aetna Inc., one of the corporations described in and which executed the above instrument;
that [he] [she] knows the corporate seal of said corporation; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation, and that [he] [she] signed [his]
[her] name thereto by like authority. 
  

	
	 /s/    Joanne R.
Jensen    9-1-99    

	Notary Public

  

			
	Commonwealth of Massachusetts	  	
	County of Suffolk	  	ss:

 On the 1st day of August, 1996, before me personally came James E. Mogavero, to me known, who, being by me duly sworn,
did depose and say that [he] [she] resides at 6 Adele Circle, Wakefield, MA 01880, that [he] [she] is an Assistant Vice President of State Street Bank and Trust Company of Connecticut, National Association, one of the corporations described in and
which executed the above instrument; that [he] [she] knows the corporate seal of said corporation; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said
corporation, and that [he] [she] signed [his] [her] name thereto by like authority. 
  

	
	 /s/ Laura L. Shepherd

	Notary Public

  
 -15-

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