Document:

Exhibit
4.1

 

 

 

 

 

B&G
FOODS, INC.

 

and
each of the Guarantors PARTY HERETO

 

5.25% SENIOR
NOTES DUE 2027

 

 

 

TENTH SUPPLEMENTAL
INDENTURE

 

Dated as
of September 26, 2019

 

 

 

The Bank
of New York Mellon Trust Company, N.A.

 

Trustee

 

 

 

 

 

    	 

    	 

    

 

CROSS-REFERENCE
TABLE*

 

	Trust Indenture
 Act Section	Indenture Section
	310(a)(1)	7.10
	      (a)(2)	7.10
	      (a)(3)	N.A.
	      (a)(4)	N.A.
	      (a)(5)	7.10
	      (b)	7.10
	      (c)	N.A.
	311(a)	7.11
	      (b)	7.11
	      (c)	N.A.
	312(a)	2.05
	      (b)	12.03
	      (c)	12.03
	313(a)	7.06
	      (b)	7.06; 7.07
	      (c)	7.06; 12.02
	      (d)	7.06
	314(a)	4.03; 12.05
	      (b)	10.02
	      (c)(1)	12.04
	      (c)(2)	12.04
	      (c)(3)	N.A.
	      (d)	N.A.
	      (e)	12.05
	315(a)	N.A.
	      (b)	N.A.
	      (c)	N.A.
	      (d)	N.A.
	      (e)	N.A.
	316(a) (last sentence)	N.A.
	      (a)(1)(A)	N.A.
	      (a)(1)(B)	N.A.
	      (a)(2)	N.A.
	      317(a)(1) 	

N.A.

	      (a)(2)	N.A.
	      (b)	N.A.

 

N.A. means
not applicable.

* This Cross
Reference Table is not part of the Indenture.

 

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TABLE OF
CONTENTS

 

Page

 

	ARTICLE 1 

DEFINITIONS AND INCORPORATION

 BY REFERENCE
	 
	Section 1.01   Definitions	1
	Section 1.02   Other Definitions	23
	Section 1.03   Incorporation by Reference of Trust Indenture Act	23
	Section 1.04   Rules of Construction	23
	 	 
	ARTICLE 2

 THE NOTES
	 
	Section 2.01   Form and Dating	24
	Section 2.02   Execution and Authentication	25
	Section 2.03   Registrar and Paying Agent	25
	Section 2.04   Paying Agent to Hold Money in Trust	26
	Section 2.05   Holder Lists	26
	Section 2.06   Transfer and Exchange	26
	Section 2.07   Replacement Notes	29
	Section 2.08   Outstanding Notes	29
	Section 2.09   Treasury Notes	30
	Section 2.10   Temporary Notes	30
	Section 2.11   Cancellation	30
	Section 2.12   Defaulted Interest	30
	Section 2.13   CUSIP Numbers	31
	 	 
	ARTICLE 3

 REDEMPTION AND PREPAYMENT
	 
	Section 3.01   Notices to Trustee	31
	Section 3.02   Selection of Notes to Be Redeemed or Purchased	31
	Section 3.03   Notice of Redemption	32
	Section 3.04   Effect of Notice of Redemption	32
	Section 3.05   Deposit of Redemption or Purchase Price	33
	Section 3.06   Notes Redeemed or Purchased in Part	33
	Section 3.07   Optional Redemption	33
	Section 3.08   Mandatory Redemption	34
	Section 3.09   Offer to Purchase by Application of Excess Proceeds	34
	 	 
	ARTICLE 4

 COVENANTS
	 
	Section 4.01   Payment of Notes	36
	Section 4.02   Maintenance of Office or Agency	36
	Section 4.03   Reports	37
	Section 4.04   Compliance Certificate	38
	Section 4.05   Taxes	38
	Section 4.06   Stay, Extension and Usury Laws	38
	Section 4.07   Restricted Payments	38
	Section 4.08   Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	42
	Section 4.09   Incurrence of Indebtedness and Issuance of Preferred Stock	43

 

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	Section 4.10   Asset Sales	47
	Section 4.11   Transactions with Affiliates	48
	Section 4.12   Liens	50
	Section 4.13   Business Activities	50
	Section 4.14   Corporate Existence	51
	Section 4.15   Offer to Repurchase Upon Change of Control	51
	Section 4.16   [Reserved.]	52
	Section 4.17   Limitation on Sale and Leaseback Transactions	52
	Section 4.18   Payments for Consent	52
	Section 4.19   Additional Note Guarantees	52
	Section 4.20   Designation of Restricted and Unrestricted Subsidiaries	53
	Section 4.21   Effectiveness of Covenants	53
	 	 
	ARTICLE 5 

SUCCESSORS
	 
	Section 5.01   Merger, Consolidation, or Sale of Assets	54
	Section 5.02   Successor Corporation Substituted	55
	 	 
	ARTICLE 6

 DEFAULTS AND REMEDIES
	 
	Section 6.01   Events of Default	56
	Section 6.02   Acceleration	57
	Section 6.03   Other Remedies	58
	Section 6.04   Waiver of Past Defaults	58
	Section 6.05   Control by Majority	58
	Section 6.06   Limitation on Suits	58
	Section 6.07   Rights of Holders of Notes to Receive Payment	59
	Section 6.08   Collection Suit by Trustee	59
	Section 6.09   Trustee May File Proofs of Claim	59
	Section 6.10   Priorities	60
	Section 6.11   Undertaking for Costs	60
	 	 
	ARTICLE 7 

TRUSTEE
	 
	Section 7.01   Duties of Trustee	60
	Section 7.02   Rights of Trustee	61
	Section 7.03   Individual Rights of Trustee	62
	Section 7.04   Trustee’s Disclaimer	62
	Section 7.05   Notice of Defaults	62
	Section 7.06   Reports by Trustee to Holders of the Notes	63
	Section 7.07   Compensation and Indemnity	63
	Section 7.08   Replacement of Trustee	64
	Section 7.09   Successor Trustee by Merger, etc.	65
	Section 7.10   Eligibility; Disqualification	65
	Section 7.11   Preferential Collection of Claims Against Company	65
	 	 
	ARTICLE 8

 LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	 
	Section 8.01   Option to Effect Legal Defeasance or Covenant Defeasance	65
	Section 8.02   Legal Defeasance and Discharge	65
	Section 8.03   Covenant Defeasance	66

 

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	Section 8.04   Conditions to Legal or Covenant Defeasance	66
	Section 8.05   Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	68
	Section 8.06   Repayment to Company	68
	Section 8.07   Reinstatement	68
	 	 
	ARTICLE 9 

AMENDMENT, SUPPLEMENT AND WAIVER
	 
	Section 9.01   Without Consent of Holders of Notes	69
	Section 9.02   With Consent of Holders of Notes	70
	Section 9.03   Compliance with Trust Indenture Act	71
	Section 9.04   Revocation and Effect of Consents	71
	Section 9.05   Notation on or Exchange of Notes	71
	Section 9.06   Trustee to Sign Amendments, etc.	71
	 	 
	ARTICLE 10 

NOTE GUARANTEES
	 
	Section 10.01   Guarantee	72
	Section 10.02   Limitation on Guarantor Liability	73
	Section 10.03   Execution and Delivery of Note Guarantee	73
	Section 10.04   Guarantors May Consolidate, etc., on Certain Terms	73
	Section 10.05   Releases	74
	 	 
	ARTICLE 11 

satisfaction and discharge
	 
	Section 11.01   Satisfaction and Discharge	75
	Section 11.02   Application of Trust Money	76
	 	 
	ARTICLE 12

 MISCELLANEOUS
	 
	Section 12.01   Trust Indenture Act Controls	77
	Section 12.02   Notices	77
	Section 12.03   Communication by Holders of Notes with Other Holders of Notes	79
	Section 12.04   Certificate and Opinion as to Conditions Precedent	79
	Section 12.05   Statements Required in Certificate or Opinion	79
	Section 12.06   Rules by Trustee and Agents	79
	Section 12.07   No Personal Liability of Directors, Officers, Employees, Affiliates  and Stockholders	79
	Section 12.08   Governing Law	80
	Section 12.09   No Adverse Interpretation of Other Agreements	80
	Section 12.10   Successors	80
	Section 12.11   Severability	80
	Section 12.12   Counterpart Originals	80
	Section 12.13   Table of Contents, Headings, etc.	80
	Section 12.14   Waiver of Jury Trial	80
	Section 12.15   Force Majeure	81
	Section 12.16   Consent to Jurisdiction	81
	Section 12.17   Foreign Account Tax Compliance Act (FATCA)	81

 

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EXHIBITS

 

	Exhibit
    A       FORM OF NOTE	 
	Exhibit B       FORM OF NOTATION OF GUARANTEE	 
	Exhibit C       FORM OF SUPPLEMENTAL INDENTURE	 

 

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TENTH
SUPPLEMENTAL INDENTURE dated as September 26, 2019 among B&G Foods, Inc., a Delaware corporation (the “Company”),
the Guarantors (as defined) and The Bank of New York Mellon Trust Company, N.A., a national banking association organized under
the laws of the United States of America, as trustee (the “Trustee”).

 

WHEREAS,
the Company has heretofore executed and delivered a base indenture dated as of June 4, 2013 (the “Base Indenture”)
between the Company and the Trustee, providing for the issuance from time to time of one or more series of the Company’s
securities.

 

WHEREAS,
the Company has duly authorized the issue of 5.25% Senior Notes due 2027 (as they may be issued from time to time under this Tenth
Supplemental Indenture, including any additional Notes, the “Notes”), and in connection therewith, the Company
has duly determined to make, execute and deliver this Tenth Supplemental Indenture to set forth the terms and provisions of the
Notes as contemplated by the Base Indenture. This Tenth Supplemental Indenture sets forth the terms of the Indenture in its entirety
and does not incorporate the terms of the Base Indenture.

 

The
Company, the Guarantors and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of
the Holders (as defined) of the Notes:

 

ARTICLE
1

DEFINITIONS AND INCORPORATION

BY REFERENCE

 

Section
1.01          Definitions.

 

“2021
Senior Notes” means B&G Foods 4.625% Senior Notes due 2021.

 

“2025
Senior Notes” means B&G Foods 5.25% Senior Notes due 2025.

 

“2025
Senior Notes Indenture” means the indenture relating to the 2025 Senior Notes dated June 4, 2013, as supplemented by
a Seventh Supplemental Indenture dated as of April 3, 2017.

 

“Acquired
Debt” means, with respect to any specified Person:

 

(1)
Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Subsidiary of such specified
Person, whether or not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with
or into, or becoming a Restricted Subsidiary of, such specified Person; and

 

(2)
Indebtedness secured by a Lien encumbering any asset acquired by such specified Person,

 

provided
that the amount of Acquired Debt only at the time so acquired will include the accreted value together with any interest thereon
that is more than 30 days past due; provided, further, that Indebtedness of such other Person that is redeemed, defeased,
retired or otherwise repaid at the time, or immediately upon consummation, of the transaction by which such other Person is merged
with or into or became a Restricted Subsidiary of such Person will not be Acquired Debt.

 

“Additional
Notes” means Notes (other than the Initial Notes) issued under this Indenture in accordance with Sections 2.02 and 4.09
hereof, as part of the same series as the Initial Notes.

 

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“Affiliate”
of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For purposes of this definition, “control,” as used with respect to any
Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies
of such Person, whether through the ownership of voting securities, by agreement or otherwise; provided that beneficial
ownership of 10% or more of the Voting Stock of a Person will be deemed to be control. For purposes of this definition, the terms
“controlling,” “controlled by” and “under common control with” have correlative
meanings.

 

“Agent”
means any Registrar, co-registrar, Paying Agent or additional paying agent.

 

“Applicable
Premium” means, with respect to any note on any redemption date, the greater of:

 

(1)
1.0% of the principal amount of the note; or

 

(2)
the excess of:

 

(a)   the
present value at such redemption date of (i) the redemption price of the note at March 1, 2022, (such redemption price being
set forth in the table in Section 3.07 hereof) plus (ii) all required interest payments due on the note through March 1,
2022, (excluding accrued but unpaid interest to the redemption date), computed using a discount rate equal to the Treasury Rate
as of such redemption date plus 50 basis points; over

 

(b)   the
principal amount of the note.

 

“Applicable
Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules
and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange.

 

“Asset
Sale” means

 

(1)
the sale, lease, conveyance or other disposition of any assets or rights; provided that the sale, lease, conveyance or other
disposition of all or substantially all of the assets of the Company and its Restricted Subsidiaries taken as a whole will be governed
by Section 4.15 hereof and/or Section 5.01 hereof and not Section 4.10 hereof; and

 

(2)
the issuance or sale of Equity Interests in any of the Company’s Restricted Subsidiaries (other than directors’ qualifying
shares or shares required by applicable law to be held by a Person other than the Company or a Restricted Subsidiary).

 

Notwithstanding
the preceding, none of the following items will be deemed to be an Asset Sale:

 

(1)       any
single transaction or series of related transactions that involves (a) assets having a Fair Market Value of less than $5.0 million
or (b) Net Proceeds of less than $5.0 million;

 

(2)       a
transfer of assets between or among the Company and its Restricted Subsidiaries;

 

(3)       an
issuance of Equity Interests by a Restricted Subsidiary of the Company to the Company or to a Restricted Subsidiary of the Company;

 

(4)       the sale, lease, conveyance or other disposition of products, services, inventory, equipment
or accounts receivable in the ordinary course of business, including any sale or other disposition of damaged, worn-out, obsolete,
negligible or surplus assets in the ordinary course of business;

 

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(5)       the sale or other disposition of cash or Cash Equivalents;

 

(6)       the surrender or waiver of contract rights, the settlement, release or surrender of contract,
tort or other litigation claims in the ordinary course of business, and the granting of (or permitted realization of) Liens not
prohibited by this Indenture;

 

(7)       a
Restricted Payment that complies with Section 4.07 hereof or a Permitted Investment;

 

(8)       sales
or grants of licenses or sublicenses of intellectual property, and licenses, leases or subleases of other assets, of the Company
or any of its Restricted Subsidiaries to the extent not materially interfering with the business of the Company and its Restricted
Subsidiaries;

 

(9)       any
exchange of like-kind property pursuant to Section 1031 of the Code that are used or useful in a Permitted Business;

 

(10)       the
abandonment of intellectual property rights in the ordinary course of business, which in the reasonable good faith determination
of the Company or any of its Restricted Subsidiaries are not material to the conduct of the business of the Company and its Restricted
Subsidiaries taken as a whole;

 

(11)       foreclosures,
condemnation or any similar action on assets or the granting of a Lien that is permitted under Section 4.12;

 

(12)       any
liquidation or dissolution of a Restricted Subsidiary, provided that such Restricted Subsidiary’s direct parent is also either
the Company or a Restricted Subsidiary of the Company and immediately becomes the owner of such Restricted Subsidiary’s assets;

 

(13)       any
issuance or sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary;

 

(14)       any
financing transaction with respect to real property constructed, acquired, replaced, repaired or improved (including any reconstruction,
refurbishment, renovation and/or development of real property) by the Company or any Restricted Subsidiary after the date of this
Indenture, including Sale and Lease-Back Transactions permitted by this Indenture; and

 

(15)       sales,
transfers and other dispositions of Investments in joint ventures to the extent required by customary buy/sell arrangements between
the joint venture parties as set forth in joint venture agreements.

 

“Attributable
Debt” in respect of a sale and leaseback transaction means, at the time of determination, the present value of the obligation
of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction including
any period for which such lease has been extended or may, at the option of the lessor, be extended. Such present value shall be
calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP;
provided, however, that if such sale and leaseback transaction results in a Capital Lease Obligation, the amount of Indebtedness
represented thereby will be determined in accordance with the definition of “Capital Lease Obligation.”

 

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“Bankruptcy
Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors.

 

“Base
Indenture” has the meaning set forth in the preamble to this Supplemental Indenture.

 

“Beneficial
Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating
the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act),
such “person” will be deemed to have beneficial ownership of all securities that such “person” has the
right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only
after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding
meaning.

 

“Board
of Directors” means:

 

(1)       with respect to a corporation, the board of directors of the corporation or any committee
thereof duly authorized to act on behalf of such board;

 

(2)       with respect to a partnership, the Board of Directors of the general partner of the partnership;

 

(3)       with respect to a limited liability company, the managing member or members or any controlling
committee of managing members thereof; and

 

(4)       with respect to any other Person, the board or committee of such Person serving a similar
function.

 

“Borrowing
Base” means, as of any date, an amount equal to:

 

(1)       85% of the face amount of all accounts receivable owned by the Company and its Restricted
Subsidiaries as of the end of the most recent fiscal quarter preceding such date that were not more than 90 days past due; plus

 

(2)       50%
of the book value of all inventory, net of reserves, owned by the Company and its Restricted Subsidiaries as of the end of the
most recent fiscal quarter preceding such date,

 

in each case determined in accordance with GAAP.

 

“Business
Day” means any day other than a Legal Holiday.

 

“Capital
Lease Obligation” means, at the time any determination is to be made, the amount of the liability in respect of a capital
lease that would at that time be required to be capitalized on a balance sheet prepared in accordance with GAAP, and the Stated
Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date
upon which such lease may be prepaid by the lessee without payment of a penalty.

 

“Capital
Stock” means:

 

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

 

(2)       in the case of an association or business entity, any and all shares, interests, participations,
rights or other equivalents (however designated) of corporate stock;

 

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(3)       in the case of a partnership or limited liability company, partnership interests or membership
interests (whether general or limited); and

 

(4)       any other interest or participation that confers on a Person the right to receive a share
of the profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of the foregoing any debt
securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital
Stock.

 

“Cash
Equivalents” means:

 

(1)       United States dollars and Canadian dollars;

 

(2)       securities issued or directly and fully guaranteed or insured by the United States government
or any agency or instrumentality of the United States government (provided that the full faith and credit of the United
States is pledged in support of those securities) having maturities of not more than one year from the date of acquisition;

 

(3)       certificates of deposit and eurodollar time deposits with maturities of six months or
less from the date of acquisition, bankers’ acceptances with maturities not exceeding six months and overnight bank deposits,
in each case, with any domestic commercial bank having capital and surplus in excess of $500.0 million and a Thomson Bank Watch
Rating of “B” or better;

 

(4)       repurchase obligations with a term of not more than seven days for underlying securities
of the types described in clauses (2) and (3) above entered into with any financial institution meeting the qualifications specified
in clause (3) above;

 

(5)       commercial paper having one of the two highest ratings obtainable from Moody’s
or S&P and, in each case, maturing within one year after the date of acquisition;

 

(6)       money market funds at least 95% of the assets of which constitute Cash Equivalents of
the kinds described in clauses (1) through (5) of this definition; and

 

(7)       readily marketable direct obligations issued by any State of the United States of America
or any political subdivision thereof having maturities of not more than one year from the date of acquisition and having one of
the two highest rating categories obtainable from either Moody’s or S&P.

 

“Change
of Control” means the occurrence of any of the following:

 

(1)       the direct or indirect sale, lease, transfer, conveyance or other disposition (other
than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties
or assets of the Company and its Subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d)(3)
of the Exchange Act) other than a Principal or a Related Party of a Principal;

 

(2)       the adoption of a plan relating to the liquidation or dissolution of the Company; or

 

(3)       the consummation of any transaction (including, without limitation, any merger or consolidation),
the result of which is that any “person” (as defined above), other than the Principals and their Related Parties, becomes
the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of the Company, measured by voting power rather
than number of shares.

 

    5

     

    

 

“Clearstream”
means Clearstream Banking, S.A.

 

“Code”
means the Internal Revenue Code of 1986, as amended from time to time.

 

“Company”
means B&G Foods, Inc. and any and all successors thereto.

 

“Consolidated
Cash Flow” means, with respect to any specified Person for any period, the Consolidated Net Income of such Person for
such period plus, without duplication:

 

(1)       an amount equal to any extraordinary loss plus any net loss realized by such Person or
any of its Restricted Subsidiaries in connection with an Asset Sale, to the extent such losses were deducted in computing such
Consolidated Net Income; plus

 

(2)       provision for taxes based on income or profits of such Person and its Restricted Subsidiaries
for such period, to the extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus

 

(3)       the Fixed Charges of such Person and its Restricted Subsidiaries for such period, to
the extent that such Fixed Charges were deducted in computing such Consolidated Net Income; plus

 

(4)       depreciation, amortization (including amortization of goodwill and other intangibles
but excluding amortization of prepaid cash expenses that were paid in a prior period and including, without limitation, any marking
to market of derivative securities or securities held in any deferred compensation plan) and other non-cash expenses (excluding
any such non-cash expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or amortization
of a prepaid cash expense that was paid in a prior period) of such Person and its Restricted Subsidiaries for such period to the
extent that such depreciation, amortization and other non-cash expenses were deducted in computing such Consolidated Net Income;
plus

 

(5)       fees and expenses related to the Transactions not to exceed $25.0 million in the aggregate
actually incurred within three months of the date hereof; plus

 

(6)       charges incurred within 180 days of the date hereof attributable to the write-off of
bond discount and the write-off of deferred financing fees and costs, relating to the pay off of existing Indebtedness in an amount
not to exceed $17.5 million; minus

 

(7)       non-cash
items increasing such Consolidated Net Income for such period (including, without limitation, any marking to market of derivative
securities or securities held in any deferred compensation plan), other than the accrual of revenue in the ordinary course of
business;

 

in each case, on a consolidated basis and determined in accordance with GAAP.

 

“Consolidated
Net Income” means, with respect to any specified Person for any period, the aggregate of the Net Income of such Person
and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that:

 

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(1)       the Net Income (but not loss) of any Person that is not a Restricted Subsidiary or that
is accounted for by the equity method of accounting will be included only to the extent of the amount of dividends or similar distributions
paid in cash to the specified Person or a Restricted Subsidiary of the Person;

 

(2)       the Net Income of any Restricted Subsidiary will be excluded to the extent that the declaration
or payment of dividends or similar distributions by that Restricted Subsidiary of that Net Income to such Person and its Restricted
Subsidiaries is not at the date of determination permitted without any prior governmental approval (that has not been obtained)
or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute,
rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders;

 

(3)       the cumulative effect of a change in accounting principles will be excluded;

 

(4)       any unrealized gains and with respect to Hedging Obligations for such period will be
excluded;

 

(5)       any unrealized gains and losses related to fluctuations in currency exchange rates for
such period will be excluded;

 

(6)       any gains and losses from any early extinguishment of Indebtedness will be excluded;

 

(7)       any gains and losses from any redemption or repurchase premiums paid with respect to
the notes will be excluded; and

 

(8)       any deferred financing costs (including the amortization of original issue discount)
associated with Indebtedness of the Company will be excluded.

 

“continuing”
means, with respect to any Default or Event of Default, that such Default or Event of Default has not been cured or waived.

 

“Corporate
Trust Office of the Trustee” will be at the address of the Trustee specified in Section 12.02 hereof or such other address
as to which the Trustee may give notice to the Company.

 

“Credit
Agreement” means that certain Amended and Restated Credit Agreement, dated as of October 2, 2015 by and among the Company,
Barclays Bank PLC, as administrative agent and collateral agent and the lenders from time to time party thereto, including any
related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and, in each case,
as amended, restated, modified, renewed, refunded, replaced in any manner (whether upon or after termination or otherwise) or refinanced
(including by means of sales of debt securities to institutional investors) in whole or in part from time to time, including by
that certain First Amendment to Credit Agreement, dated as of March 30, 2017, and that certain Second Amendment to Credit Agreement,
dated as of November 20, 2017.

 

    7

     

    

 

“Credit
Facilities” means, one or more debt facilities (including, without limitation, the Credit Agreement) or other financing
arrangements (including, without limitation, commercial paper facilities or indentures) providing for revolving credit loans, term
loans, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to
borrow from such lenders against such receivables), letters of credit or other long-term indebtedness including any notes, mortgages,
guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements,
modifications, extensions, renewals, restatements, refundings or replacements in any manner (whether upon or after termination
or otherwise) or refinancings thereof (including by means of sales of debt securities to institutional investors) in whole or in
part from time to time and any debt facilities or other financing arrangements (including, without limitation, commercial paper
facilities or indentures) that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments
thereunder including any such replacement, refunding or refinancing facility or indenture that increases the amount permitted to
be borrowed thereunder or alters the maturity thereof (provided that such increase is permitted under Section 4.09) or adds
Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender or
group of lenders.

 

“Custodian”
means the Trustee, as custodian with respect to the Notes in global form, or any successor entity thereto.

 

“Default”
means any event that is, or with the passage of time or the giving of written notice or both would be, an Event of Default.

 

“Designated
Non-cash Consideration” means the Fair Market Value of non-cash consideration received by the Company or a Restricted
Subsidiary in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officers’
Certificate, setting forth the basis of such valuation, executed by the principal financial officer of the Company, less the amount
of cash or Cash Equivalents received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration.

 

“Definitive
Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with Section 2.06
hereof, substantially in the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not
have the “Schedule of Exchanges of Interests in the Global Note” attached thereto.

 

“Depositary”
means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 2.03 hereof
as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become
such pursuant to the applicable provision of this Indenture.

 

“Disqualified
Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it is convertible, or for
which it is exchangeable, in each case at the option of the holder of the Capital Stock), or upon the happening of any event, matures
or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder of
the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature. Notwithstanding
the preceding sentence, any Capital Stock that would constitute Disqualified Stock solely because the holders of the Capital Stock
have the right to require the Company to repurchase such Capital Stock upon the occurrence of a change of control or an asset sale
will not constitute Disqualified Stock if the terms of such Capital Stock provide that the Company may not repurchase or redeem
any such Capital Stock pursuant to such provisions unless such repurchase or redemption complies with Section 4.07 hereof. The
amount of Disqualified Stock deemed to be outstanding at any time for purposes of this Indenture will be the maximum amount that
the Company and its Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption
provisions of, such Disqualified Stock, exclusive of accrued dividends.

 

“Domestic
Subsidiaries” means any Restricted Subsidiary of the Company that was formed under the laws of the United States or any
state of the United States or the District of Columbia.

 

    8

     

    

 

“Electronic
Means” shall mean the following communications methods: S.W.I.F.T., e-mail, facsimile transmission, secure electronic
transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another
method or system specified by the Trustee as available for use in connection with its services hereunder.

 

“Equity
Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any
debt security that is convertible into, or exchangeable for, Capital Stock).

 

“Equity
Offering” means a public or private sale either (1) of Equity Interests of the Company by the Company (other than
Disqualified Stock and other than to a Subsidiary of the Company or pursuant to a registration statement on Form S-8 or otherwise
relating to equity securities issuable under any employee benefit plan of the Company) or (2) of Equity Interests of a direct
or indirect parent entity of the Company (other than to the Company or a Subsidiary of the Company) to the extent that the net
proceeds therefrom are contributed to the common equity capital of the Company.

 

“Euroclear”
means Euroclear Bank, S.A./N.V., as operator of the Euroclear system.

 

“Excess
Cash” means, with respect to any specified Person for any period, the Consolidated Cash Flow of that Person for such
period, minus the sum of the following, each determined for such period on a consolidated basis:

 

(1)       cash income taxes paid for such Person and its Restricted Subsidiaries; plus

 

(2)       cash interest expense paid by such Person and its Restricted Subsidiaries, whether or
not capitalized (including, without limitation, the interest component of all payments associated with Capital Lease Obligations,
imputed interest with respect to Attributable Debt, commissions, discounts and other fees and charges incurred in respect of letter
of credit or bankers’ acceptance financings, and net of the effect of all payments made or received pursuant to Hedging Obligations
in respect of interest rates); plus

 

(3)       additions to property, plant and equipment and other capital expenditures of such Person
and its Restricted Subsidiaries that are (or would be) set forth in a consolidated statement of cash flows of such Person and its
Restricted Subsidiaries for such period prepared in accordance with GAAP, except to the extent financed by the incurrence of Indebtedness;
plus

 

(4)       the aggregate principal amount of long-term Indebtedness repaid by such Person and its
Restricted Subsidiaries and the repayment by such Person and any Restricted Subsidiary of any short-term Indebtedness that financed
capital expenditures referred to in clause (3) above, excluding any such repayments (a) under working capital facilities (except
to the extent that such Indebtedness so repaid was incurred to finance capital expenditures as described in clause (3) above, (b)
out of Net Proceeds of Asset Sales as provided in Section 3.09 hereof, (c) through a refinancing involving the incurrence of new
long-term Indebtedness and (d) to the extent not included in clause (c), of the 2021 Senior Notes and revolving loans under the
Credit Agreement with the proceeds of the offering of the Notes on or about the date of this Indenture; provided that the
aggregate amount of repayments made pursuant to this clause (d) does not exceed the amount of the net proceeds received in connection
with the offering of the Notes.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Existing
Indebtedness” means Indebtedness of the Company and its Restricted Subsidiaries (including pursuant to the 2025 Senior
Notes and the Credit Agreement, to the extent outstanding immediately following the execution of this Indenture) in existence on
the date hereof, reduced to the extent such amounts are repaid, refinanced or retired.

 

    9

     

    

 

“Fair
Market Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction
not involving distress or necessity of either party, determined in good faith by the Company (unless otherwise provided in this
Indenture).

 

“Fixed
Charge Coverage Ratio” means with respect to any specified Person for any period, the ratio of the Consolidated Cash
Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person
or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges
any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent
to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on
which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”),
then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment,
repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred
stock, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter reference
period.

 

In addition,
for purposes of calculating the Fixed Charge Coverage Ratio:

 

(1)       acquisitions that have been made by the specified Person or any of its Restricted Subsidiaries,
including through mergers or consolidations, or any Person or any of its Restricted Subsidiaries acquired by the specified Person
or any of its Restricted Subsidiaries, and including any related financing transactions and including increases in ownership of
Restricted Subsidiaries, during the four-quarter reference period or subsequent to such reference period and on or prior to the
Calculation Date will be given pro forma effect as if they had occurred on the first day of the four-quarter reference period,
and Consolidated Cash Flow for such reference period will be calculated on a pro forma basis (including with respect to any cost
savings so long as such cost savings are factually supportable and expected to have a continuing effect on such Person or any of
its Restricted Subsidiaries;

 

(2)       the Consolidated Cash Flow attributable to discontinued operations, as determined in
accordance with GAAP, and operations or businesses (and ownership interests therein) disposed of prior to the Calculation Date,
will be excluded;

 

(3)       the Fixed Charges attributable to discontinued operations, as determined in accordance
with GAAP, and operations or businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded,
but only to the extent that the obligations giving rise to such Fixed Charges will not be obligations of the specified Person or
any of its Restricted Subsidiaries following the Calculation Date;

 

(4)       any Person that is a Restricted Subsidiary on the Calculation Date will be deemed to
have been a Restricted Subsidiary at all times during such four-quarter period;

 

(5)       any Person that is not a Restricted Subsidiary on the Calculation Date will be deemed
not to have been a Restricted Subsidiary at any time during such four-quarter period; and

 

(6)       if any Indebtedness bears a floating rate of interest, the interest expense on such Indebtedness
will be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking
into account any Hedging Obligation applicable to such Indebtedness if such Hedging Obligation has a remaining term as at the Calculation
Date in excess of 12 months).

 

    10

     

    

 

“Fixed
Charges” means, with respect to any specified Person for any period, the sum, without duplication, of:

 

(1)       the consolidated interest expense of such Person and its Restricted Subsidiaries for
such period, whether paid or accrued, including, without limitation, non-cash interest payments, the interest component of any
deferred payment obligations, the interest component of all payments associated with Capital Lease Obligations, imputed interest
with respect to Attributable Debt, commissions, discounts and other fees and charges incurred in respect of letter of credit or
bankers’ acceptance financings, and net of the effect of all payments made or received pursuant to Hedging Obligations in
respect of interest rates (but excluding amortization of deferred financing costs, original issue discount and any redemption or
repurchase premiums paid with respect to the Notes); plus

 

(2)       the consolidated interest expense of such Person and its Restricted Subsidiaries that
was capitalized during such period; plus

 

(3)       any interest on Indebtedness of another Person that is guaranteed by such Person or one
of its Restricted Subsidiaries or secured by a Lien on assets of such Person or one of its Restricted Subsidiaries, whether or
not such Guarantee or Lien is called upon; plus

 

(4)       the product of (a) all dividends, whether paid or accrued and whether or not in cash,
on any series of preferred stock of such Person or any of its Restricted Subsidiaries, other than dividends on Equity Interests
payable solely in Equity Interests of the Company (other than Disqualified Stock) or to the Company or a Restricted Subsidiary
of the Company, times (b) a fraction, the numerator of which is one and the denominator of which is one minus the then current
combined federal, state and local statutory tax rate of such Person, expressed as a decimal, in each case, determined on a consolidated
basis in accordance with GAAP; minus

 

(5)       charges attributable to the amortization of expenses relating to the Transactions incurred
within 180 days of the date of this Indenture.

 

“GAAP”
means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board
of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards
Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession
in the United States, which are in effect on the date of this Indenture. At any time after the date hereof, the Company may elect
to apply IFRS accounting principles in lieu of GAAP and, upon any such election, references herein to GAAP shall thereafter be
construed to mean IFRS (except as otherwise provided herein); provided that calculations or determinations herein that require
the application of GAAP for periods that include fiscal quarters ended prior to the Company’s election to apply IFRS shall
remain as previously calculated or determined in accordance with GAAP. The Company will provide notice of any such election made
in accordance with this definition to the Trustee and the Holders.

 

“Global
Note Legend” means the legend set forth in Section 2.06(f) hereof, which is required to be placed on all Global Notes
issued under this Indenture.

 

    11

     

    

 

“Global
Notes” means, individually and collectively, each of the Global Notes deposited with or on behalf of and registered in
the name of the Depository or its nominee, substantially in the form of Exhibit A hereto and that bears the Global Note Legend
and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with
Section 2.01, 2.06(b) or 2.06(d) hereof.

 

“Government
Securities” means direct obligations of, or obligations guaranteed by, the United States of America (including any agency
or instrumentality thereof) for the payment of which obligations or guarantees the full faith and credit of the United States of
America is pledged and which are not callable or redeemable at the issuer’s option and shall also include a depository receipt
issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities
or a specific payment of principal of or interest on any such Government Securities held by such custodian for the account of the
holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction
from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government
Securities or the specific payment of principal of or interest on the Government Securities evidenced by such depository receipt.

 

“Guarantee”
means a guarantee other than by endorsement of negotiable instruments for collection or standard contractual indemnities in the
ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through
letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness (whether arising by virtue
of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take or pay or
to maintain financial statement conditions or otherwise).

 

“Guarantors”
means each of:

 

(1)       B&G Foods North America, Inc., B&G Foods Snacks, Inc., Back To Nature Foods Company,
LLC, Back To Nature Foods ServCo, LLC, Bear Creek Country Kitchens, LLC, BTN Foods ServCo Corporation, BTN Holdco, Inc., Clabber
Girl Corporation, Spartan Foods of America, Inc., Victoria Fine Foods, LLC and William Underwood Company; and

 

(2)       any
other Subsidiary of the Company that executes a Note Guarantee in accordance with the provisions of this Indenture,

 

and their
respective successors and assigns, in each case, until the Note Guarantee of such Person has been released in accordance with
the provisions of this Indenture.

 

“Hedging
Obligations” means, with respect to any specified Person, the obligations of such Person under:

 

(1)       interest rate swap agreements (whether from fixed to floating or from floating to fixed),
interest rate cap agreements and interest rate collar agreements;

 

(2)       other agreements or arrangements designed to manage interest rates or interest rate risk;
and

 

(3)       other agreements or arrangements designed to protect such Person against fluctuations
in currency exchange rates or commodity prices.

 

“Holder”
means a Person in whose name a Note is registered.

 

    12

     

    

 

“IFRS”
means International Financial Reporting Standards.

 

“Immaterial
Subsidiary” means, as of any date, any Restricted Subsidiary whose total assets, as of that date, are less than $100,000
and whose total revenues for the most recent 12-month period do not exceed $100,000; provided that a Restricted Subsidiary
will not be considered to be an Immaterial Subsidiary if it, directly or indirectly, guarantees or otherwise provides direct credit
support for any Indebtedness of the Company.

 

“Indebtedness”
means, with respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables), whether
or not contingent:

 

(1)       in respect of borrowed money;

 

(2)       evidenced by bonds, notes, debentures or similar instruments or letters of credit (or
reimbursement agreements in respect thereof);

 

(3)       in respect of banker’s acceptances;

 

(4)       representing Capital Lease Obligations or Attributable Debt in respect of sale and leaseback
transactions;

 

(5)       representing the balance deferred and unpaid of the purchase price of any property or
services, which purchase price is due more than six months after the date of placing such property in service or taking delivery
and title thereto, except any such balance that constitutes an accrued expense or trade payable or any similar obligation to trade
creditors; or

 

(6)       representing
any Hedging Obligations,

 

if and to the extent any of the preceding items (other than letters of credit, Attributable Debt and
Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with
GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of
the specified Person (whether or not such Indebtedness is assumed by the specified Person; provided that if the holder
of such Indebtedness has no recourse to such Person other than to the asset, the amount of such Indebtedness will be deemed
to equal the lesser of the value of such asset and the amount of the obligation so secured) and, to the extent not otherwise
included, the Guarantee by the specified Person of any Indebtedness of any other Person.

 

“Indenture”
means this Tenth Supplemental Indenture.

 

“Indirect
Participant” means a Person who holds a beneficial interest in a Global Note through a Participant.

 

“Initial
Notes” means the first $550,000,000 aggregate principal amount of Notes issued under this Indenture on the date hereof.

 

“Investment
Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent)
by S&P, or an equivalent rating by any other Rating Agency.

 

    13

     

    

 

“Investments”
means, with respect to any Person, all direct or indirect investments by such Person in other Persons (including Affiliates) in
the forms of loans (including Guarantees or other obligations), advances or capital contributions (excluding accounts receivable,
trade credit and advances to customers in the ordinary course of business and commission, travel and similar advances to officers
and employees made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity
Interests or other securities, together with all items that are or would be classified as investments on a balance sheet prepared
in accordance with GAAP. If the Company or any Subsidiary of the Company sells or otherwise disposes of any Equity Interests of
any direct or indirect Subsidiary of the Company such that, after giving effect to any such sale or disposition, such Person is
no longer a Subsidiary of the Company, the Company will be deemed to have made an Investment on the date of any such sale or disposition
equal to the Fair Market Value of the Company’s Investments in such Subsidiary that were not sold or disposed of in an amount
determined as provided in Section 4.07(c) hereof. The acquisition by the Company or any Subsidiary of the Company of a Person that
holds an Investment in a third Person will not be deemed to be an Investment by the Company or such Subsidiary in such third Person
if the purpose of such acquisition by the Company or such Subsidiary was not the Investment in such third Person. Except as otherwise
provided in this Indenture, the amount of an Investment will be determined at the time the Investment is made and without giving
effect to subsequent changes in value.

 

“Joint
Venture” means any joint venture between the Company and/or any Restricted Subsidiary and any other Person if such joint
venture is:

 

(1)       owned 50% or less by the Company and/or any of its Restricted Subsidiaries; and

 

(2)       not directly or indirectly controlled by or under direct or indirect common control of
the Company and/or any of its Restricted Subsidiaries.

 

“Legal
Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City of New York or at a place of payment
are authorized by law, regulation or executive order to remain closed. If a payment date is a Legal Holiday at a place of payment,
payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such
payment for the intervening period.

 

“Lien”
means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of
such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other
title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in
and any filing of or agreement to give any financing statement relating to a lien on an asset under the Uniform Commercial Code
(or equivalent statutes) of any jurisdiction.

 

“Moody’s”
means Moody’s Investors Service, Inc. and any successor to its rating agency business.

 

“Net
Income” means, with respect to any specified Person, the net income (loss) of such Person, determined in accordance with
GAAP and before any reduction in respect of preferred stock dividends, excluding, however:

 

(1)       any gain or loss, together with any related provision for taxes on such gain or loss,
realized in connection with:

 

(a)   any
Asset Sale; or

 

(b)   the
disposition of any securities by such Person or any of its Restricted Subsidiaries or the extinguishment of any Indebtedness of
such Person or any of its Restricted Subsidiaries; and

 

    14

     

    

 

 

 

(2)        any extraordinary gain or loss, together with any related provision for taxes on such
extraordinary gain (but not loss).

 

“Net
Proceeds” means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect
of any Asset Sale (including, without limitation, any cash received upon the sale or other disposition of any non-cash consideration
received in any Asset Sale), net of the direct costs relating to such Asset Sale, including, without limitation, legal, accounting
and investment banking fees, and sales commissions, and any relocation expenses incurred as a result of the Asset Sale, taxes paid
or payable as a result of the Asset Sale, in each case, after taking into account any available tax credits or deductions and any
tax sharing arrangements, and amounts required to be applied to the repayment of Indebtedness, other than Indebtedness under a
Credit Facility, secured by a Lien on the asset or assets that were the subject of such Asset Sale or any reserve for adjustment
in respect of the sale price of such asset or assets established in accordance with GAAP or in respect of liabilities associated
with the asset disposed of and retained by the Company or its Restricted Subsidiaries.

 

“Non-Recourse
Debt” means Indebtedness:

 

(1)        as
to which neither the Company nor any of its Restricted Subsidiaries (a) provides credit support of any kind (including any undertaking,
agreement or instrument that would constitute Indebtedness), (b) is directly or indirectly liable as a guarantor or otherwise,
or (c) constitutes the lender;

 

(2)        no
default with respect to which (including any rights that the holders of the Indebtedness may have to take enforcement action against
an Unrestricted Subsidiary) would permit upon notice, lapse of time or both any holder of any other Indebtedness of the Company
or any of its Restricted Subsidiaries to declare a default on such other Indebtedness or cause the payment of the Indebtedness
to be accelerated or payable prior to its Stated Maturity; and

 

(3)        as
to which the lenders have been notified in writing that they will not have any recourse to the stock or assets of the Company or
any of its Restricted Subsidiaries.

 

“Note
Guarantee” means the Guarantee by each Guarantor of the Company’s obligations under this Indenture and the Notes,
executed pursuant to the provisions of this Indenture.

 

“Notes”
has the meaning assigned to it in the preamble to this Indenture. The Initial Notes and the Additional Notes shall be treated as
a single class for all purposes under this Indenture; provided that if any Additional Notes subsequently issued are not fungible
with any Notes previously issued for U.S. federal income tax purposes, such Additional Notes will have a separate CUSIP number.
Unless the context otherwise requires, all references to the Notes shall include the Initial Notes and any Additional Notes.

 

“Obligations”
means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under the
documentation governing any Indebtedness.

 

“Officer”
means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer,
the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Executive Vice-President
or any Vice-President of such Person.

 

“Officers’
Certificate” means the officers’ certificate to be delivered upon the occurrence of specified events as set forth
hereunder.

  

    15

     

    

 

“Opinion
of Counsel” means an opinion from legal counsel that meets the requirements of Section 12.05 hereof. The counsel may
be an employee of or counsel to the Company, any Subsidiary of the Company or the Trustee.

 

“Participant”
means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or
Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream).

 

“Permitted
Business” means the business of the Company and its Subsidiaries as existing on the date hereof and any other businesses
that are the same, similar or reasonably related, ancillary or complementary thereto and reasonable extensions thereof.

 

“Permitted
Investments” means:

 

(1)        any Investment in the Company or in a Restricted Subsidiary of the Company;

 

(2)        any Investment in Cash Equivalents;

 

(3)        any Investment by the Company or any Restricted Subsidiary of the Company in a Person,
if as a result of such Investment:

 

(a)   
such Person becomes a Restricted Subsidiary of the Company; or

 

(b)   
such Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its assets
to, or is liquidated into, the Company or a Restricted Subsidiary of the Company;

 

(4)        any Investment made as a result of the receipt of non-cash consideration from an Asset
Sale that was made pursuant to and in compliance with Section 4.10 hereof;

 

(5)        any acquisition of assets or Capital Stock solely in exchange for the issuance of Equity
Interests (other than Disqualified Stock) of the Company;

 

(6)        any Investments received (a) in compromise or resolution of (i) obligations of trade
creditors or customers that were incurred in the ordinary course of business of the Company or any of its Restricted Subsidiaries,
including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any trade creditor
or customer or (ii) litigation, arbitration or other disputes with Persons who are not Affiliates; or (b) in satisfaction of judgments;

 

(7)        Investments represented by Hedging Obligations;

 

(8)        loans or advances to directors, officers, employees and consultants made in the ordinary
course of business of the Company or the Restricted Subsidiary of the Company in an aggregate principal amount not to exceed $5.0
million at any one time outstanding;

 

(9)        repurchases of the Notes;

 

(10)       intercompany loans to the extent permitted by Section 4.09 hereof;

 

    16

     

    

  

(11)       loans by the Company in an aggregate principal amount not exceeding $5.0 million to employees
of the Company or its Restricted Subsidiaries to finance the sale of the Company’s Capital Stock by the Company to such employees;
provided that the net cash proceeds from such sales respecting such loaned amounts will not be included in the calculation
described in clause (b) of the second paragraph (1) of Section 4.07(a) hereof;

 

(12)      any Investment in existence on the date hereof;

 

(13)      receivables owing to the Company or any Restricted Subsidiary if created or acquired
in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;

 

(14)      any Investment in any Person to the extent the Investment consists of prepaid expenses,
negotiable instruments held for collection and lease, utility and workers’ compensation, performance and other similar deposits
made in the ordinary course of business by the Company or any of its Restricted Subsidiaries;

 

(15)      guarantees otherwise permitted by the terms of this Indenture, including guarantees of
Indebtedness, performance guarantees and guarantees of operating leases or other obligations that do not constitute Indebtedness,
in each case entered into in the ordinary course of business; and

 

(16)      other Investments in any Person having an aggregate Fair Market Value (measured on the
date each such Investment was made and without giving effect to subsequent changes in value), when taken together with all other
Investments made pursuant to this clause (16) that are at the time outstanding, not to exceed the greater of (i) 4.0%
of Total Assets and (ii) $125.0 million at the time of such Investment (with the Fair Market Value of each Investment
being measured at the time made and without giving effect to subsequent changes in value); provided that if an Investment
made pursuant to this clause (16) is made in any Person that is not a Restricted Subsidiary of the Company at the date of
the making of the Investment and such Person becomes a Restricted Subsidiary after such date, such Investment will thereafter be
deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause (16).

 

“Permitted
Liens” means:

 

(1)        Liens on assets of the Company or any of its Restricted Subsidiaries securing Indebtedness
and other Obligations under Credit Facilities that were permitted by the terms of this Indenture to be incurred and/or securing
certain Hedging Obligations;

 

(2)        Liens in favor of the Company or the Guarantors;

 

(3)        Liens on property of a Person existing at the time such Person is merged with or into
or consolidated with the Company or any Subsidiary of the Company; provided that such Liens were not incurred in contemplation
of such merger or consolidation and do not extend to any assets other than those of the Person merged into or consolidated with
the Company or the Subsidiary;

 

(4)        Liens on property (including Capital Stock) existing at the time of acquisition of the
property by the Company or any Subsidiary of the Company; provided that such Liens were not incurred in contemplation of,
such acquisition;

 

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(5)        Liens
to secure the performance of statutory obligations, surety or appeal bonds, performance bonds, deposits to secure the performance
of bids, trade contracts, government contracts, warranty requirements, leases or licenses or other obligations of a like nature
or incurred in the ordinary course of business (including, without limitation, landlord Liens on leased real property and rights
of offset and set-off);

 

(6)        Liens to secure Indebtedness (including Capital Lease Obligations) permitted by Section
4.09(b)(4) of this Indenture; covering only the assets acquired with or financed by such Indebtedness;

 

(7)        Liens existing on the date hereof;

 

(8)        Liens for taxes, assessments or governmental charges or claims that are not yet delinquent
or that are being contested in good faith by appropriate proceedings promptly instituted and diligently concluded; provided
that any reserve or other appropriate provision as is required in conformity with GAAP has been made therefor;

 

(9)        Liens imposed by law, such as carriers’, warehousemen’s, landlord’s,
materialmen’s, repairmen’s and mechanics’ Liens, in each case, incurred in the ordinary course of business;

 

(10)      survey exceptions, easements or reservations of, or rights of others for, licenses, rights-of-way,
sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use
of real property that were not incurred in connection with Indebtedness and that do not in the aggregate materially adversely affect
the value of said properties or materially impair their use in the operation of the business of such Person;

 

(11)      Liens created for the benefit of (or to secure) the Notes (or the Note Guarantees);

 

(12)      Liens to secure any Permitted Refinancing Indebtedness permitted to be incurred under
this Indenture; provided, however, that:

 

(a)   
the new Lien is limited to all or part of the same property and assets that secured or, under the written agreements pursuant
to which the original Lien arose, could secure the original Lien (plus improvements and accessions to, such property or proceeds
or distributions thereof); and

 

(b)   
the Indebtedness secured by the new Lien is not increased to any amount greater than the sum of (x) the outstanding principal
amount, or, if greater, committed amount, of the Indebtedness renewed, refunded, refinanced, replaced, defeased or discharged with
such Permitted Refinancing Indebtedness and (y) an amount necessary to pay any fees and expenses, including premiums, related to
such renewal, refunding, refinancing, replacement, defeasance or discharge;

 

(13)      Liens in favor of customs and revenue authorities to secure payment of customs duties
in connection with the importation of goods in the ordinary course of business and other similar Liens arising in the ordinary
course of business;

 

(14)      Liens securing reimbursement obligations with respect to commercial letters of credit
which encumber documents and other property relating to such letters of credit and products and proceeds thereof;

 

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(15)      Liens upon specific items of inventory or other goods and proceeds of any Person securing
such Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate
the purchase, shipment or storage of such inventory or other goods;

 

(16)      leases or subleases granted to third Persons not interfering with the ordinary course
of business of the Company or any of its Restricted Subsidiaries;

 

(17)      Liens (other than any Lien imposed by ERISA or any rule or regulation promulgated thereunder)
incurred or deposits made in the ordinary course of business in connection with workers’ compensation, unemployment insurance,
and other types of social security;

 

(18)      deposits made in the ordinary course of business to secure liability to insurance carriers;

 

(19)      Liens under licensing agreements for use of intellectual property entered into in the
ordinary course of business;

 

(20)      judgment Liens not giving rise to an Event of Default;

 

(21)      Liens on the assets of a Restricted Subsidiary of the Company that is not a Guarantor
securing Indebtedness of that Restricted Subsidiary; provided that such Indebtedness was permitted to be incurred under
Section 4.09 hereof;

 

(22)      Liens arising out of conditional sale, title retention, consignment or similar arrangements
for the sale of goods entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of business;

 

(23)      Liens solely on any cash earnest money deposits made by the Company or any of its Restricted
Subsidiaries in connection with any letter of intent or purchase agreement permitted under this Indenture;

 

(24)      Liens arising from Uniform Commercial Code (or equivalent statute) financing statement
filings regarding operating leases entered into in the ordinary course of business; and

 

(25)      Liens incurred in the ordinary course of business of the Company or any Restricted Subsidiary
of the Company with respect to obligations that do not exceed $30.0 million at any one time outstanding.

 

“Permitted
Refinancing Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange
for, or the net proceeds of which are used to renew, refund, refinance, replace, defease or discharge other Indebtedness of the
Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness); provided that:

 

(1)        the principal amount (or accreted value, if applicable) of such Permitted Refinancing
Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness renewed, refunded, refinanced,
replaced, defeased or discharged (plus all accrued interest on the Indebtedness and the amount of all fees and expenses, including
premiums, incurred in connection therewith);

 

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(2)        such Permitted Refinancing Indebtedness has a final maturity date later than or the same
as the final maturity date of, and has a Weighted Average Life to Maturity that is (a) equal to or greater than the Weighted Average
Life to Maturity of, the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged or (b) more than 90
days after the final maturity date of the Notes;

 

(3)        if the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged
is subordinated in right of payment to the Notes, such Permitted Refinancing Indebtedness has a final maturity date later than
the final maturity date of, and is subordinated in right of payment to, the Notes on terms at least as favorable to the holders
of Notes as those contained in the documentation governing the Indebtedness being renewed, refunded, refinanced, replaced, defeased
or discharged; and

 

(4)        such Indebtedness is incurred either by the Company or by the Restricted Subsidiary who
is the obligor on the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged.

 

“Person”
means any individual, corporation, limited liability company, joint stock company, joint venture, partnership, limited liability
partnership, association, unincorporated organization, trust, governmental regulatory entity, country, state, agency or political
subdivision thereof, municipality, county, parish or other entity.

 

“Principals”
means the members of management of the Company or any of the Company’s Restricted Subsidiaries as of the date hereof.

 

“Rating
Agencies” means Moody’s and S&P or if Moody’s or S&P or both shall not make a rating on the notes
publicly available, a nationally recognized statistical rating organization or organizations, as the case may be, selected by the
Company which shall be substituted for Moody’s or S&P or both, as the case may be.

 

“Related
Party” means

 

(1)        any controlling stockholder, 66 2/3% or more owned Subsidiary, or immediate family member
(in the case of an individual) of any Principal; or

 

(2)        any trust, corporation, partnership, limited liability company or other entity, the beneficiaries,
stockholders, partners, members, owners or Persons beneficially holding a 66 2/3% or more controlling interest of which consist
of any one or more Principals and/or such other Persons referred to in the immediately preceding clause (1).

 

“Responsible
Officer,” when used with respect to the Trustee, means any officer within the Corporate Trust Administration of the Trustee
(or any successor group of the Trustee) 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 knowledge of and familiarity with the particular subject and who shall have direct
responsibility for the administration of this Indenture.

 

“Restricted
Investment” means an Investment other than a Permitted Investment.

 

“Restricted
Subsidiary” of a Person means any Subsidiary of the referent Person that is not an Unrestricted Subsidiary.

 

    20

     

    

  

“S&P”
means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., and any successor to its rating agency business.

 

“SEC”
means the Securities and Exchange Commission.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Significant
Subsidiary” means any Restricted Subsidiary that would be a “significant subsidiary” as defined in Article
1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the date of this
Indenture.

 

“Stated
Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the date on
which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the
date hereof, and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior
to the date originally scheduled for the payment thereof.

 

“Subsidiary”
means, with respect to any specified Person:

 

(1)        any corporation, association or other business entity of which more than 50% of the total
voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to
any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors,
managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly,
by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and

 

(2)        any partnership (a) the sole general partner or the managing general partner of which
is such Person or a Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries
of that Person (or any combination thereof).

 

“Tenth
Supplemental Indenture” means this Tenth Supplemental Indenture, dated as of the date first written above, among the
Company, the Guarantors and the Trustee, governing the Notes, as amended, supplemented or otherwise modified from time to time
in accordance with the terms hereof.

 

“TIA”
means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb).

 

“Total
Assets” means the total assets of the Company and its Restricted Subsidiaries on a consolidated basis, as shown on the
most recent balance sheet of the Company.

 

“Transactions”
means the issuance of the Notes and the application of the proceeds therefrom.

 

“Treasury
Rate” means, as of any redemption date, the yield to maturity as of such redemption date of United States Treasury securities
with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that
has become publicly available at least two business days prior to the redemption date (or, if such Statistical Release is no longer
published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to March
1, 2022; provided, however, that if the period from the redemption date to March 1, 2022, is less than one year, the weekly average
yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used.

 

    21

     

    

  

“Trustee”
means The Bank of New York Mellon Trust Company, N.A. until a successor replaces it in accordance with the applicable provisions
of this Indenture and thereafter means the successor serving hereunder.

 

“Unrestricted
Subsidiary” means any Subsidiary of the Company that is designated by the Board of Directors of the Company as an Unrestricted
Subsidiary pursuant to a resolution of the Board of Directors, but only to the extent that such Subsidiary:

 

(1)        has
no Indebtedness other than Non-Recourse Debt;

 

(2)        except
as permitted by Section 4.11 hereof, is not party to any agreement, contract, arrangement or understanding with the Company or
any Restricted Subsidiary of the Company unless the terms of any such agreement, contract, arrangement or understanding are no
less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons who are
not Affiliates of the Company;

 

(3)        is
a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has any direct or indirect obligation
(a) to subscribe for additional Equity Interests or (b) to maintain or preserve such Person’s financial condition or to cause
such Person to achieve any specified levels of operating results; and

 

(4)        has
not guaranteed or otherwise directly or indirectly provided credit support for any Indebtedness of the Company or any of its Restricted
Subsidiaries.

 

“U.S.
Person” means a U.S. Person as defined in Rule 902(k) promulgated under the Securities Act.

 

“Voting
Stock” of any specified Person as of any date means the Capital Stock of such Person that is at the time entitled to
vote in the election of the Board of Directors of such Person.

 

“Weighted
Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing:

 

(1)        the sum of the products obtained by multiplying (a) the amount of each then remaining
installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect
of the Indebtedness, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and
the making of such payment; by

 

(2)        the then outstanding principal amount of such Indebtedness.

 

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Section
1.02          Other
Definitions.

 

	 	Defined in 
	Term	Section
	“Affiliate Transaction”	4.11
	“Applicable
Law”	12.17
	“Asset Sale Offer”	3.09
	“Authentication
Order”	2.02
	“Authorized
Officers”	12.02
	“Change
of Control Offer”	4.15
	“Change
of Control Payment”	4.15
	“Change
of Control Payment Date”	4.15
	“Covenant
Defeasance”	8.03
	“DTC”	2.03
	“Event
of Default”	6.01
	“Excess
Proceeds”	4.10
	“incur”	4.09
	“Instructions”	12.02
	“Legal
Defeasance”	8.02
	“Offer
Amount”	3.09
	“Offer Period”	3.09
	“Paying
Agent”	2.03
	“Permitted
Debt”	4.09
	“Payment
Default” 	6.01
	“Purchase
Date”	3.09
	“Registrar”	2.03
	“Restricted
Payments”	4.07
	“Specified
Courts”	12.16

 

Section
1.03          Incorporation
by Reference of Trust Indenture Act.

 

Whenever
this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.

 

The
following TIA terms used in this Indenture have the following meanings:

 

“indenture
securities” means the Notes;

 

“indenture
security Holder” means a Holder of a Note;

 

“indenture
to be qualified” means this Indenture;

 

“indenture
trustee” or “institutional trustee” means the Trustee; and

 

“obligor”
on the Notes and the Note Guarantees means the Company and the Guarantors, respectively, and any successor obligor upon the Notes
and the Note Guarantees, respectively.

 

All
other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule
under the TIA have the meanings so assigned to them.

 

Section
1.04          Rules
of Construction.

 

Unless
the context otherwise requires:

 

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

 

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

 

(3)        “or” is not exclusive;

 

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

 

(5)        “will” shall be interpreted to express a command;

 

(6)        provisions apply to successive events and transactions;

 

(7)        references to sections of or rules under the Securities Act, the Exchange Act or the
TIA will be deemed to include substitute, replacement of successor sections or rules adopted by the SEC from time to time;

 

(8)        any
reference to an “Appendix,” “Article,” “Section,” “clause,” “Schedule”
or “Exhibit” refers to an Appendix, Article, Section, clause, Schedule or Exhibit, as the case may be, of this Indenture;

 

(9)        the
words “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not any
particular Article, Section, clause or other subdivision; and

 

(10)      unless
otherwise provided, references to agreements and other instruments shall be deemed to include all amendments and other modifications
to such agreements or instruments, but only to the extent such amendments and other modifications are not prohibited by the terms
of this Indenture.

 

ARTICLE
2

THE NOTES

 

Section
2.01          Form
and Dating.

 

(a)           General.
The Notes and the Trustee’s certificate of authentication will be substantially in the form of Exhibit A hereto. The Notes
may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of
its authentication. The Notes shall be in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

The
terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of this Indenture and the Company,
the Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions
and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this Indenture,
the provisions of this Indenture shall govern and be controlling.

 

(b)           Global Notes. Notes issued in global form will be substantially in the form of Exhibit A hereto (including the Global
Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued
in definitive form will be substantially in the form of Exhibit A1 hereto (but without the Global Note Legend thereon and without
the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note will represent such
of the outstanding Notes as will be specified therein and each shall provide that it represents the aggregate principal amount
of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented
thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of
a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented
thereby will be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by
the Holder thereof as required by Section 2.06 hereof.

 

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(c)           Euroclear
and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear System” and
“Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream Banking”
and “Customer Handbook” of Clearstream will be applicable to transfers of beneficial interests in the Global Notes
that are held by Participants through Euroclear or Clearstream.

 

Section
2.02          Execution
and Authentication.

 

At
least one Officer must sign the Notes for the Company by manual, facsimile, .pdf attachment or other electronically transmitted
signature.

 

If
an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note will nevertheless
be valid.

 

A
Note will not be valid until authenticated by the manual signature of the Trustee. The signature will be conclusive evidence that
the Note has been authenticated under this Indenture.

 

The
Trustee will, upon receipt of a written order of the Company signed by at least one Officer (an “Authentication Order”),
authenticate Notes for original issue that may be validly issued under this Indenture, including any Additional Notes. The aggregate
principal amount of Notes outstanding at any time may not exceed the aggregate principal amount of Notes authorized for issuance
by the Company pursuant to one or more Authentication Orders, except as provided in Section 2.07 hereof.

 

The
Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate
Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication
by such agent. An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the Company.

 

Section
2.03          Registrar
and Paying Agent.

 

The
Company will maintain an office or agency where Notes may be presented for registration of transfer or for exchange (“Registrar”)
and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar will keep a
register of the Notes and of their transfer and exchange. The Company may appoint one or more co-registrars and one or more additional
paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any
additional paying agent. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company will notify
the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain
another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying
Agent or Registrar.

 

The
Company initially appoints The Depository Trust Company (“DTC”) to act as Depository with respect to the Global
Notes.

 

The
Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act as Custodian with respect to the Global
Notes.

 

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Section
2.04          Paying
Agent to Hold Money in Trust.

 

The
Company will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for
the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal of, premium on, if any, or
interest, if any, on, the Notes, and will notify the Trustee of any default by the Company in making any such payment. While any
such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time
may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other
than the Company or a Subsidiary) will have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent,
it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any
bankruptcy or reorganization proceedings relating to the Company, the Trustee will serve as Paying Agent for the Notes.

 

Section
2.05          Holder
Lists.

 

The
Trustee will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses
of all Holders and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company will furnish
to the Trustee at least seven Business Days before each interest payment date and at such other times as the Trustee may request
in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the Holders
of Notes and the Company shall otherwise comply with TIA § 312(a).

 

Section
2.06          Transfer
and Exchange.

 

(a)           Transfer
and Exchange of Global Notes. Except as otherwise set forth in this 2.06, a Global Note may not be transferred except as a
whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee
of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.
All Global Notes will be exchanged by the Company for Definitive Notes if:

 

(1)        the Company delivers to the Trustee notice from the Depositary that it is unwilling or unable to continue to act as Depositary
or that it is no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not
appointed by the Company within 120 days after the date of such notice from the Depositary;

 

(2)        the Company in its sole discretion determines that the Global Notes (in whole but not in part) should be exchanged for Definitive
Notes and delivers a written notice to such effect to the Trustee; or

 

(3)        there has occurred and is continuing a Default or Event of Default with respect to the Notes.

 

Upon
the occurrence of either of the preceding events in (1) or (2) above, Definitive Notes shall be issued in such names as the Depositary
shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and
2.10 hereof. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant
to this Section 2.06 or Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global
Note, except for Definitive Notes issued subsequent to any of the preceding events in (1) or (2) above and pursuant to Section
2.06(c) or 2.06(e) below. A Global Note may not be exchanged for another Note other than as provided in this Section 2.06(a), however,
beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b) or (c) hereof.

 

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(b)          Transfer
and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global
Notes will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures.
Beneficial interests in any Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest
in a Global Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers
described in this Section 2.06(b).

 

(c)           Transfer
and Exchange of Beneficial Interests for Definitive Notes. If any holder of a beneficial interest in a Global Note proposes
to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery
thereof in the form of a Definitive Note, the Trustee will cause the aggregate principal amount of the applicable Global Note
to be reduced accordingly pursuant to Section 2.06(g) hereof, and the Company will execute and the Trustee will authenticate and
deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note
issued in exchange for a beneficial interest pursuant to this Section 2.06(c) will be registered in such name or names and in
such authorized denomination or denominations as the holder of such beneficial interest requests through instructions to the Registrar
from or through the Depositary and the Participant or Indirect Participant.

 

(d)          Transfer
and Exchange of Definitive Notes for Beneficial Interests. A Holder of a Definitive Note may exchange such Note for a beneficial
interest in a Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial
interest in a Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the
applicable Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Global Notes.

 

(e)           Transfer
and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s
compliance with the provisions of this Section 2.06(e), the Registrar will register the transfer or exchange of Definitive Notes.
Prior to such registration of transfer or exchange, the requesting Holder must present or surrender to the Registrar the Definitive
Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by
such Holder or by its attorney, duly authorized in writing. A Holder of Definitive Notes may transfer such Notes to a Person who
takes delivery thereof in the form of a Definitive Note.

 

(f)           Legends.
Each Global Note will bear a legend in substantially the following form:

 

“THIS
GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT
OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY
MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED
IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH
THE PRIOR WRITTEN CONSENT OF B&G FOODS, INC.

 

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UNLESS AND
UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY
OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”),
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.”

 

(g)           Cancellation
and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged
for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such
Global Note will be returned to or retained and canceled by the Trustee in accordance with Section 2.11 hereof. At any time prior
to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented
by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary
at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred
to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note
will be increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction
of the Trustee to reflect such increase.

 

(h)           General Provisions Relating to Transfers and Exchanges.

 

(1)        To permit registrations of transfers and exchanges, the Company will execute and the Trustee will authenticate Global Notes and
Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.02 hereof or at the Registrar’s request.

 

(2)        No service charge will be made to a Holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable
upon exchange or transfer pursuant to Sections 2.10, 3.06, 3.09, 4.10, 4.15 and 9.05 hereof).

 

(3)        The Registrar will not be required to register the transfer of or exchange of any Note selected for redemption in whole or in part,
except the unredeemed portion of any Note being redeemed in part.

 

(4)        All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes
will be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture,
as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

 

(5)        Neither the Registrar nor the Company will be required:

 

    28

     

    

  

(A) to
issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business 15
days before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on
the day of selection;

 

(B) to
register the transfer of or to exchange any Note selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part; or

 

(C) to
register the transfer of or to exchange a Note between a record date and the next succeeding interest payment date.

 

(6)        Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Company may deem and treat
the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal
of and interest on such Notes and for all other purposes, and none of the Trustee, any Agent or the Company shall be affected by
notice to the contrary.

 

(7)        The Trustee will authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.02 hereof.

 

(8)        All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06
to effect a registration of transfer or exchange may be submitted by facsimile or .pdf attachment or other electronically transmitted
signature.

 

Section
2.07          Replacement
Notes.

 

If
any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction of the destruction,
loss or theft of any Note, the Company will issue and the Trustee, upon receipt of an Authentication Order, will authenticate a
replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Company, an indemnity bond must
be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee,
any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The Company may charge
for its expenses (including the fees and expenses of the Trustee) in replacing a Note.

 

Every
replacement Note is an additional obligation of the Company and will be entitled to all of the benefits of this Indenture equally
and proportionately with all other Notes duly issued hereunder.

 

Section
2.08          Outstanding
Notes.

 

The
Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by it, those delivered to
it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions
hereof, and those described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a Note does not
cease to be outstanding because the Company or an Affiliate of the Company holds the Note.

 

If
a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory
to it that the replaced Note is held by a protected purchaser.

 

If
the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to be outstanding and interest on it ceases
to accrue.

 

    29

     

    

  

If
the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) holds, on a redemption date or maturity
date, money sufficient to pay Notes payable on that date, then on and after that date such Notes will be deemed to be no longer
outstanding and will cease to accrue interest.

 

Section
2.09          Treasury
Notes.

 

In
determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes
owned by the Company or any Guarantor, or by any Person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company or any Guarantor, will be considered as though not outstanding, except that for the purposes
of determining whether the Trustee will be protected in relying on any such direction, waiver or consent, only Notes that a Responsible
Officer of the Trustee actually knows are so owned will be so disregarded.

 

Section
2.10          Temporary
Notes.

 

Until
certificates representing Notes are ready for delivery, the Company may prepare and the Trustee, upon receipt of an Authentication
Order, will authenticate temporary Notes. Temporary Notes will be substantially in the form of certificated Notes but may have
variations that the Company considers appropriate for temporary Notes and as may be reasonably acceptable to the Trustee. Without
unreasonable delay, the Company will prepare and the Trustee will authenticate definitive Notes in exchange for temporary Notes.

 

Holders
of temporary Notes will be entitled to all of the benefits of this Indenture.

 

Section
2.11          Cancellation.

 

The
Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee
any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else will cancel all Notes
surrendered for registration of transfer, exchange, payment, replacement or cancellation and will dispose of such canceled Notes
(subject to the record retention requirement of the Exchange Act) in its customary manner. Certification of the disposition of
all canceled Notes will be delivered to the Company upon its written request therefor. The Company may not issue new Notes to replace
Notes that it has paid or that have been delivered to the Trustee for cancellation.

 

Section
2.12          Defaulted
Interest.

 

If
the Company defaults in a payment of interest on the Notes, it will pay the defaulted interest in any lawful manner plus, to the
extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date,
in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company will notify the Trustee in writing of the
amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Company will fix or cause
to be fixed each such special record date and payment date; provided that no such special record date may be less than 10
days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Company
(or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) will mail or cause to
be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to
be paid.

 

    30

     

    

  

Section
2.13          CUSIP
Numbers.

 

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

 

 

ARTICLE
3

REDEMPTION AND PREPAYMENT

 

Section
3.01          Notices
to Trustee.

 

If
the Company elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 hereof, it must furnish to the
Trustee, at least 5 Business Days before the date of giving of the notice of redemption (or such shorter notice as may be acceptable
to the Trustee) but not more than 60 days before a redemption date, an Officers’ Certificate setting forth:

 

(1)        the clause of this Indenture pursuant to which the redemption shall occur;

 

(2)        the redemption date;

 

(3)        the principal amount of Notes to be redeemed; and

 

(4)        the redemption price.

 

Section
3.02          Selection
of Notes to Be Redeemed or Purchased.

 

(a)           If
less than all of the Notes are to be redeemed or purchased in an offer to purchase at any time, the Trustee will select Notes
for redemption on a pro rata basis (or, in the case of Notes issued in global form pursuant to Article 2 hereof, based
on a method that most nearly approximates a pro rata selection as the Trustee may deem appropriate) unless otherwise required
by law or applicable stock exchange or depositary requirements.

 

(b)           No
Notes of $2,000 or less can be redeemed in part. In the event of partial redemption or purchase by lot, the particular Notes to
be redeemed or purchased will be selected, unless otherwise provided herein, not less than 30 nor more than 60 days prior to the
redemption or purchase date by the Trustee from the outstanding Notes not previously called for redemption or purchase.

 

(c)   Notes
and portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in excess thereof; except that if all
of the Notes of a Holder are to be redeemed or purchased, the entire outstanding amount of Notes held by such Holder, shall be
redeemed or purchased. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes called for
redemption or purchase also apply to portions of Notes called for redemption or purchase.

 

    31

     

    

  

Section
3.03          Notice of Redemption.

 

Subject
to the provisions of Section 3.09 hereof, at least 30 days but not more than 60 days before a redemption date, the Company will
mail or cause to be mailed, by first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at its registered
address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection
with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles 8 or 11 hereof.

 

The
notice will identify the Notes to be redeemed and will state:

 

(1)        the redemption date;

 

(2)        the redemption price;

 

(3)        if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the redemption
date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion will be issued upon cancellation
of the original Note;

 

(4)        the name and address of the Paying Agent;

 

(5)        that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(6)        that, unless the Company defaults in making such redemption payment, interest on Notes called for redemption ceases to accrue on
and after the redemption date;

 

(7)        the paragraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for redemption are being redeemed;
and

 

(8)        that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed
on the Notes.

 

At
the Company’s request, the Trustee will give the notice of redemption in the Company’s name and at its expense; provided,
however, that the Trustee is given at least 5 Business Days prior notice of the date of the giving of such notice (unless a
shorter period shall be acceptable to the Trustee).

 

Section
3.04          Effect
of Notice of Redemption.

 

Once
notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable
on the redemption date at the redemption price; provided, however, that any redemption or notice of any redemption
may, at the Company’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion
of an Equity Offering, other offering or other corporate transaction or event. In addition, the Company may provide in any notice
of redemption that payment of the redemption price and the performance of its obligations with respect to such redemption may be
performed by another person; provided, further, however, that the Company shall remain obligated to pay the
redemption price and perform its obligations with respect to such redemption in the event such other person fails to do so. Notice
of any redemption in respect of an Equity Offering may be given prior to completion thereof.

 

    32

     

    

  

Section
3.05          Deposit
of Redemption or Purchase Price.

 

On
or prior to 10:00 A.M. Eastern Time on the redemption or purchase date, the Company will deposit with the Trustee or with the Paying
Agent money sufficient to pay the redemption or purchase price of and accrued interest on all Notes to be redeemed or purchased
on that date. The Trustee or the Paying Agent will promptly return to the Company any money deposited with the Trustee or the Paying
Agent by the Company in excess of the amounts necessary to pay the redemption or purchase price of, and accrued interest on, all
Notes to be redeemed or purchased upon written receipt of instructions from the Company specifying how such funds are to be delivered.

 

If
the Company complies with the provisions of the preceding paragraph, on and after the redemption or purchase date, interest will
cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on
or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest shall
be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for
redemption or purchase is not so paid upon surrender for redemption or purchase because of the failure of the Company to comply
with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal
is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes
and in Section 4.01 hereof.

 

Section
3.06          Notes
Redeemed or Purchased in Part.

 

Upon
surrender of a Note that is redeemed or purchased in part, the Company will issue and, upon receipt of an Authentication Order,
the Trustee will authenticate for the Holder at the expense of the Company a new Note equal in principal amount to the unredeemed
or unpurchased portion of the Note surrendered.

 

Section
3.07          Optional
Redemption.

 

(a)           At
any time prior to March 1, 2022, the Company may on any one or more occasions redeem up to 40% of the aggregate principal amount
of Notes issued under this Indenture (including Additional Notes, if any), upon not less than 30 nor more than 60 days’
notice at a redemption price equal to 105.25% of the principal amount, plus accrued and unpaid interest, if any, to the redemption
date, (subject to the rights of Holders of Notes on the relevant record date to receive interest on the relevant interest payment
date) in an amount not to exceed the net cash proceeds of one or more Equity Offerings of the Company; provided that:

 

(1)        at least 50% of the aggregate principal amount of Notes originally issued under this Indenture (excluding Notes held by the Company
and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and

 

(2)        the redemption occurs within 90 days of the date of the closing of such Equity Offering.

 

(b)           At
any time prior to March 1, 2022, the Company may on any one or more occasions redeem all or a part of the notes, upon not less
than 30 nor more than 60 days’ notice, at a redemption price equal to 100% of the principal amount of the notes redeemed,
plus the Applicable Premium as of, and accrued and unpaid interest, if any, to the date of redemption, subject to the rights of
holders of notes on the relevant record date to receive interest due on the relevant interest payment date.

 

    33

     

    

  

(c)           Except
pursuant to the preceding paragraphs of this Section 3.07, the Notes will not be redeemable at the Company’s option prior
to March 1, 2022.

 

(d)          On
or after March 1, 2022, the Company may on any one or more occasions redeem all or a part of the Notes, upon not less than 30
nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus
accrued and unpaid interest on the Notes redeemed, to the applicable redemption date, if redeemed during the twelve-month period
beginning on March 1 of the years indicated below, subject to the rights of Holders of Notes on the relevant record date to receive
interest on the relevant interest payment date:

 

	Year	 	Percentage	 
	2022	 	 	103.938	%
	2023	 	 	102.625	%
	2024	 	 	101.313	%
	2025 and thereafter	 	 	100.000	%

 

Unless
the Company defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called
for redemption on the applicable redemption date.

 

(e)           Any
redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof.

 

Section
3.08          Mandatory
Redemption.

 

The
Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes.

 

Section
3.09          Offer
to Purchase by Application of Excess Proceeds.

 

In
the event that, pursuant to Section 4.10 hereof, the Company is required to commence an offer to all Holders to purchase Notes
(an “Asset Sale Offer”), it will follow the procedures specified below.

 

The
Asset Sale Offer shall be made to all Holders and all holders of other Indebtedness that is pari passu with the Notes containing
provisions similar to those set forth in this Indenture with respect to offers to purchase, prepay or redeem with the proceeds
of sales of assets. The Asset Sale Offer will remain open for a period of at least 20 Business Days following its commencement
and not more than 30 Business Days, except to the extent that a longer period is required by applicable law (the “Offer
Period”). No later than three Business Days after the termination of the Offer Period (the “Purchase Date”),
the Company will apply all Excess Proceeds (the “Offer Amount”) to the purchase of Notes and such other pari
passu Indebtedness (on a pro rata basis based on the principal amount of notes and such other pari passu Indebtedness
surrendered, if applicable) or, if less than the Offer Amount has been tendered, all Notes and other Indebtedness tendered in response
to the Asset Sale Offer. Payment for any Notes so purchased will be made in the same manner as interest payments are made.

 

If
the Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued and unpaid
interest, if any, will be paid to the Person in whose name a Note is registered at the close of business on such record date, and
no additional interest will be payable to Holders who tender Notes pursuant to the Asset Sale Offer.

 

    34

     

    

  

 

Upon
the commencement of an Asset Sale Offer, the Company will send a notice to the Trustee and each of the Holders. The notice will
contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer. The notice,
which will govern the terms of the Asset Sale Offer, will state:

 

(1)
that the Asset Sale Offer is being made pursuant to this Section 3.09 and Section 4.10 hereof and the length of time the Asset
Sale Offer will remain open;

 

(2)
the Offer Amount, the purchase price and the Purchase Date;

 

(3)
that any Note not tendered or accepted for payment will continue to accrue interest;

 

(4)
that, unless the Company defaults in making such payment, any Note accepted for payment pursuant to the Asset Sale Offer will cease
to accrue interest after the Purchase Date;

 

(5)
that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may elect to have Notes purchased in denominations
of $2,000 or an integral multiple of $1,000 in excess thereof;

 

(6)
that Holders electing to have Notes purchased pursuant to any Asset Sale Offer will be required to surrender the Note, with the
form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer,
to the Company, a Depositary, if appointed by the Company, or a Paying Agent at the address specified in the notice at least three
days before the Purchase Date;

 

(7)
that Holders will be entitled to withdraw their election if the Company, the Depositary or the Paying Agent, as the case may be,
receives, not later than the expiration of the Offer Period, a facsimile transmission or letter setting forth the name of the Holder,
the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election
to have such Note purchased;

 

(8)
that, if the aggregate principal amount of Notes and other pari passu Indebtedness surrendered by holders thereof exceeds
the Offer Amount, the Company will select the Notes and other pari passu Indebtedness to be purchased on a pro rata
basis based on the principal amount of Notes and such other pari passu Indebtedness surrendered (with such adjustments as
may be deemed appropriate by the Company so that only Notes in denominations of $2,000, or an integral multiple of $1,000 in excess
thereof, will be purchased); and

 

(9)
that Holders whose Notes were purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion
of the Notes surrendered (or transferred by book-entry transfer).

 

On
or before the Purchase Date, the Company will, to the extent lawful, accept for payment, on a pro rata basis to the extent
necessary, the Offer Amount of Notes or portions thereof tendered pursuant to the Asset Sale Offer, or if less than the Offer Amount
has been tendered, all Notes tendered, and will deliver or cause to be delivered to the Trustee the Notes properly accepted together
with an Officers’ Certificate stating that such Notes or portions thereof were accepted for payment by the Company in accordance
with the terms of this Section 3.09. The Company, the Depositary or the Paying Agent, as the case may be, will promptly (but in
any case not later than three Business Days after the Purchase Date) mail or deliver to each tendering Holder an amount equal to
the purchase price of the Notes tendered by such Holder and accepted by the Company for purchase, and the Company will promptly
issue a new Note, and the Trustee, upon written request from the Company, will authenticate and mail or deliver (or cause to be
transferred by book entry) such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered.
Any Note not so accepted shall be promptly mailed or delivered by the Company to the Holder thereof. The Company will publicly
announce the results of the Asset Sale Offer on the Purchase Date.

 

Other
than as specifically provided in this Section 3.09, any purchase pursuant to this Section 3.09 shall be made pursuant to the provisions
of Sections 3.01 through 3.06 hereof.

 

    35

     

    

 

ARTICLE
4

COVENANTS

 

Section
4.01          
Payment of Notes.

 

The
Company will pay or cause to be paid the principal of, premium, if any, and interest on, the Notes on the dates and in the manner
provided in the Notes. Principal, premium, if any, and interest will be considered paid on the date due if the Paying Agent, if
other than the Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Company
in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest then due.

 

The
Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at
the rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful; it will pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard
to any applicable grace period) at the same rate to the extent lawful.

 

Section
4.02          
Maintenance of Office or Agency.

 

The
Company will maintain in the Borough of Manhattan, the City of New York, an office or agency (which may be an office of the Trustee
or an affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for registration of transfer or for exchange
and where notices and demands to or upon the Company in respect of the Notes 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 fails to maintain any such required office or agency or fails to furnish the Trustee with the address thereof,
such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.

 

The
Company may also from time to time designate one or more other offices or agencies where the Notes 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 will in any manner relieve the Company of its obligation to maintain an office or agency in the Borough of Manhattan,
the City of New York 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.

 

The
Company hereby designates the Corporate Trust Office of the Trustee as one such office or agency of the Company in accordance with
Section 2.03 hereof.

 

    36

     

    

 

Section
4.03          
Reports.

 

(a)   
Whether or not required by the rules and regulations of the SEC, so long as any Notes are outstanding, the Company will
furnish to the Holders of Notes and the Trustee, within the time periods specified in the SEC’s rules and regulations:

 

(1)
all quarterly and annual reports that would be required to be filed with the SEC on Forms 10-Q and 10-K if the Company were required
to file reports; and

 

(2)
all current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to file such reports:

 

provided,
however, that the availability of the foregoing materials on the SEC’s EDGAR service or on the Company’s website
shall be deemed to satisfy the Company’s delivery obligations under this Section 4.03(a).

 

All
such reports will be prepared in all material respects in accordance with all of the rules and regulations applicable to such reports.
Each annual report on Form 10-K will include a report on the Company’s consolidated financial statements by the Company’s
independent registered public accounting firm. In addition, the Company will file a copy of each of the reports referred to in
clauses (1) and (2) above with the SEC for public availability within the time periods specified in the rules and regulations
applicable to such reports (unless the SEC will not accept such a filing) and will make such information available to securities
analysts and prospective investors upon request. The Company will at all times comply with TIA § 3.14(a).

 

If
at any time, the Company is no longer subject to the periodic reporting requirements of the Exchange Act for any reason, the Company
will nevertheless continue filing the reports specified in the preceding paragraphs of this Section 4.03(a) with the SEC within
the time periods specified above unless the SEC will not accept such a filing. The Company will not take any action for the purpose
of causing the SEC not to accept any such filings. If, notwithstanding the foregoing, the SEC will not accept the Company's filings
for any reason, the Company will post the reports referred to in the preceding paragraphs on its website within the time periods
that would apply if the Company were required to file those reports with the SEC.

 

(b)   
If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries, then the quarterly and annual financial
information required by paragraph (a) of this Section 4.03 will include a reasonably detailed presentation, either on the face
of the financial statements or in the footnotes thereto, and in Management’s Discussion and Analysis of Financial Condition
and Results of Operations, of the financial condition and results of operations of the Company and its Restricted Subsidiaries
separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the Company

 

Delivery
of such reports, information and documents to the Trustee pursuant to this Section 4.03 is for informational purposes only and
the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable
from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the
Trustee is entitled to rely exclusively on an Officer’s Certificate).

 

    37

     

    

 

Section
4.04          
Compliance Certificate.

 

(a)   
The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers’ Certificate
stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under
the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled
its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of
his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture
and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if
a Default or Event of Default has occurred, describing all such Defaults or Events of Default of which he or she may have knowledge
and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no
event has occurred and remains in existence by reason of which payments on account of the principal of, premium on, if any, or
interest, if any, on, the Notes is prohibited or if such event has occurred, a description of the event and what action the Company
is taking or proposes to take with respect thereto.

 

(b)   
So long as any of the Notes are outstanding, the Company will deliver to the Trustee, forthwith (and in any event within
10 days) upon any Officer becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default
or Event of Default and what action the Company is taking or proposes to take with respect thereto.

 

Section
4.05          
Taxes.

 

The
Company will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental
levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is
not adverse in any material respect to the Holders of the Notes. 

 

Section
4.06          
Stay, Extension and Usury Laws.

 

The
Company and each of the Guarantors covenants (to the extent that it may lawfully do so) that it will not at any time insist upon,
plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted,
now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company and
each of the Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such
law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted
to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted. 

 

Section
4.07          
Restricted Payments.

 

(a)   
The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly:

 

(1)
declare or pay any dividend or make any other payment or distribution on account of the Company’s or any of its Restricted
Subsidiaries’ Equity Interests (including, without limitation, any payment in connection with any merger or consolidation
involving the Company or any of its Restricted Subsidiaries) or to the direct or indirect holders of the Company’s or any
of its Restricted Subsidiaries’ Equity Interests in their capacity as such (other than dividends or distributions payable
in Equity Interests (other than Disqualified Stock) of the Company and other than dividends or distributions payable to the Company
or a Restricted Subsidiary of the Company);

 

(2)
purchase, redeem or otherwise acquire or retire for value (including, without limitation, in connection with any merger or consolidation
involving the Company) any Equity Interests (other than any such Equity Interest owned by a wholly owned Restricted Subsidiary
of the Company) of the Company or any direct or indirect parent of the Company;

 

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(3)
make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value any Indebtedness
of the Company or any Guarantor that is contractually subordinated to the Notes or to any Note Guarantee (excluding any intercompany
Indebtedness between or among the Company and any of its Restricted Subsidiaries), except a payment of interest or principal on,
or the purchase, repurchase or other acquisition of, such Indebtedness in anticipation of satisfying a sinking fund obligation,
principal installment or final maturity, in each case due within one year of the date of such payment, purchase, repurchase or
other acquisition; or

 

(4)
make any Restricted Investment (all such payments and other actions set forth in these clauses (1) through (4) being collectively
referred to as “Restricted Payments”),

 

unless,
at the time of and after giving effect to such Restricted Payment, no Default or Event of Default has occurred and is continuing
or would occur as a consequence of such Restricted Payment and:

 

(1)
if the Fixed Charge Coverage Ratio for the Company’s four most recent fiscal quarters for which internal financial statements
are available is not less than 1.6 to 1.0, such Restricted Payment, together with the aggregate amount of all other Restricted
Payments made by the Company and its Restricted Subsidiaries since the date hereof (except for Restricted Payments made pursuant
to Section 4.07(b)(1) (so long as such Restricted Payment was previously included for purposes of this calculation (to the extent
required to be so included) at the time of its declaration), 4.07(b)(2), 4.07(b)(3), 4.07(b)(4), 4.07(b)(6), 4.07(b)(7), 4.07(b)(8),
4.07(b)(9), 4.07(b)(10), 4.07(b)(11) or 4.07(b)(12) below, is less than the sum of $150.0 million and, without duplication:

 

(a)   
Excess Cash of the Company for the period (taken as one accounting period) from March 31, 2013 to the end of the Company’s
most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment;
plus

 

(b)   
100% of the aggregate net cash proceeds received by the Company since June 4, 2013 as a contribution to its common equity
capital or from the issue or sale of Equity Interests of the Company (other than Disqualified Stock) or from the issue or sale
of convertible or exchangeable Disqualified Stock or convertible or exchangeable debt securities of the Company that have been
converted into or exchanged for such Equity Interests (other than Equity Interests (or Disqualified Stock or debt securities) sold
to a Subsidiary of the Company); plus

 

(c)   
100% of the Fair Market Value as of the date of issuance of any Equity Interests (other than Disqualified Stock) issued
since June 4, 2013 by the Company as consideration for the purchase by the Company or any of its Restricted Subsidiaries of all
or substantially all of the assets of, or a majority of the Voting Stock of, another Permitted Business (including by means of
a merger, consolidation or other business combination permitted under this Indenture); plus

 

(d)   
to the extent that any Restricted Investment that was made after June 4, 2013 is sold for cash or other property or otherwise
liquidated or repaid for cash, the lesser of (i) the cash return of capital with respect to such Restricted Investment or the Fair
Market Value of such other property (less the cost of disposition, if any) and (ii) the initial amount of such Restricted Investment;
plus

 

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(e)   
to the extent that any Unrestricted Subsidiary of the Company designated as such after June 4, 2013 is redesignated as a
Restricted Subsidiary after June 4, 2013 or merges or consolidates with or into, or is liquidated into, the Company or any of its
Restricted Subsidiaries, the lesser of (i) the Fair Market Value of the Company’s Investment in such Subsidiary as of the
date of such redesignation or (ii) such Fair Market Value as of the date on which such Subsidiary was originally designated as
an Unrestricted Subsidiary after June 4, 2013.

 

(b)   
The preceding provisions will not prohibit:

 

(1)
the payment of any dividend or the consummation of any irrevocable redemption within 90 days after the date of declaration of the
dividend or giving of the redemption notice, as the case may be, if at the date of declaration or notice, the dividend or redemption
payment would have complied with the provisions of this Indenture;

 

(2)
the making of any Restricted Payment in exchange for, or out of the net cash proceeds of the sale within 10 Business Days (other
than to a Subsidiary of the Company) of, Equity Interests of the Company (other than Disqualified Stock) or from the contribution
of common equity capital to the Company within 10 Business Days; provided that the amount of any such net cash proceeds
that are utilized for any such Restricted Payment will be excluded from clause (b) of the second paragraph (1) of Section 4.07(a);

 

(3)
the repurchase, redemption, defeasance or other acquisition or retirement for value of Indebtedness of the Company or any Guarantor
that is contractually subordinated to the Notes or to any Note Guarantee with the net cash proceeds from an incurrence of Permitted
Refinancing Indebtedness or issuance of Disqualified Stock permitted to be issued by Section 4.09 hereof within 10 Business Days
from such incurrence or issuance;

 

(4)
the payment of any dividend (or, in the case of any partnership or limited liability company, any similar distribution) by a Restricted
Subsidiary of the Company to the holders of its Equity Interests on a pro rata basis;

 

(5)
so long as no Default has occurred and is continuing or would be caused thereby, the repurchase, redemption or other acquisition
or retirement for value of any Equity Interests of the Company or any Restricted Subsidiary of the Company held by any current
or former officer, director or employee of the Company or any of its Restricted Subsidiaries pursuant to any equity subscription
agreement, stock option plan or any other management or employee benefit plan or agreement, shareholders’ agreement or similar
agreement; provided that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests
may not exceed $15.0 million in any calendar year (provided that the Company may carry over and make in a subsequent calendar
year, in addition to the amounts permitted for such calendar year, up to $5.0 million of unutilized capacity under this clause
(5) attributable to the immediately preceding calendar year; provided, further, that such amount in any calendar year may
be increased by an amount not to exceed the cash proceeds received by the Company or any of its Restricted Subsidiaries (to the
extent contributed to the Company) from sales of Equity Interests (other than Disqualified Stock) of the Company to officers, directors
or employees of the Company or any of its Restricted Subsidiaries that occur after the date of this Indenture (provided
that the amount of such cash proceeds used for any such repurchase, redemption, acquisition or retirement will not increase the
amount available for Restricted Payments under clause (b) of the second paragraph (1) of Section 4.07(a) hereof and provided
that the Company may elect to apply all or any portion of the aggregate increase contemplated by this proviso in any calendar
year); provided, further, that cancellation of Indebtedness owing to the Company from members of management of the Company
or any Restricted Subsidiary in connection with a repurchase of Equity Interests of the Company will not be deemed to constitute
a Restricted Payment;

 

    40

     

    

 

(6)
the repurchase of Equity Interests deemed to occur upon the exercise of stock options to the extent such Equity Interests represent
a portion of the exercise price of those stock options;

 

(7)
so long as no Default has occurred and is continuing or would be caused thereby, the declaration and payment of regularly scheduled
or accrued dividends to holders of any class or series of Disqualified Stock of the Company or any Restricted Subsidiary of the
Company issued on or after the date of this Indenture in accordance with Section 4.09 hereof;

 

(8)
so long as no Default has occurred and is continuing or would be caused thereby, upon the occurrence of an Asset Sale or a Change
of Control and within 60 days after the completion of the related Asset Sale Offer or Change of Control Offer, any purchase or
redemption of Indebtedness of the Company or any Guarantor that is contractually subordinated to the Notes or to any Note Guarantee
required pursuant to the terms thereof as a result of such Asset Sale or Change of Control at a purchase or redemption price not
to exceed 101% of the outstanding principal amount thereof, plus accrued and unpaid interest thereon, if any; provided,
however, that such purchase or redemption is not made, directly or indirectly, from the proceeds of (or made in anticipation
of) any issuance of Indebtedness by the Company or any of its Restricted Subsidiaries;

 

(9)
payments of dividends to the Company solely to enable it to make payments to holders of its Capital Stock in lieu of the issuance
of fractional shares of its Capital Stock;

 

(10)
the acquisition of any shares of Disqualified Stock of the Company in exchange for other shares of Disqualified Stock of the Company
or with the net cash proceeds from an issuance of Disqualified Stock by the Company within 10 Business Days of such issuance, in
each case that is permitted to be issued under Section 4.09 hereof;

 

(11)
the repurchase, redemption, defeasance or other acquisition or retirement for value of the 2025 Senior Notes, including any call
premium paid in connection therewith; and

 

(12)
so long as no Default has occurred and is continuing or would be caused thereby, other Restricted Payments in an aggregate amount
at the time outstanding not to exceed the greater of (i) $125.0 million or (ii) 4.0% of Total Assets.

 

(c)   
For purposes of this Section 4.07, the amount of all Restricted Payments (other than cash) will be the Fair Market Value
on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued by the Company or such
Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment. For purposes of determining compliance with Section
4.07, in the event that a Restricted Payment meets the criteria of more than one of the exceptions described in Section 4.07(b)
or is entitled to be made pursuant to Section 4.07(a) hereof, the Company will be permitted, in its sole discretion, to classify
the Restricted Payment, or later reclassify the Restricted Payment, in any manner that complies with Section 4.07.

 

    41

     

    

 

Section
4.08          
Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries.

 

(a)   
The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create or permit
to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to:

 

(1)
pay dividends or make any other distributions on its Capital Stock to the Company or any of its Restricted Subsidiaries, or with
respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or
any of its Restricted Subsidiaries;

 

(2)
make loans or advances to the Company or any of its Restricted Subsidiaries; or

 

(3)
transfer any of its properties or assets to the Company or any of its Restricted Subsidiaries.

 

(b)   
However, the preceding restrictions in Section 4.08(a) hereof will not apply to encumbrances or restrictions existing under
or by reason of:

 

(1)
agreements governing Existing Indebtedness and any other agreement, including the Credit Agreement and the 2025 Senior Notes Indenture,
as in effect on the date of this Indenture and any amendments, restatements, modifications, renewals, increases, supplements, refundings,
replacements or refinancings of those agreements; provided that the amendments, restatements, modifications, renewals, increases,
supplements, refundings, replacements or refinancings are not materially more restrictive, taken as a whole, with respect to such
dividend and other payment restrictions than those contained in those agreements on the date of this Indenture;

 

(2)
this Indenture, the Notes and the Note Guarantees;

 

(3)
applicable law, rule, regulation or order;

 

(4)
any instrument governing Indebtedness or Capital Stock of a Person acquired by the Company or any of its Restricted Subsidiaries
as in effect at the time of such acquisition (except to the extent such Indebtedness or Capital Stock was incurred in connection
with or in contemplation of such acquisition), which encumbrance or restriction is not applicable to any Person, or the properties
or assets of any Person, other than the Person, or the property or assets of the Person, so acquired; provided that, in
the case of Indebtedness, such Indebtedness was permitted by the terms of this Indenture to be incurred;

 

(5)
customary non-assignment provisions in contracts, licenses and other commercial agreements entered into in the ordinary course
of business;

 

(6)
purchase money obligations for property acquired in the ordinary course of business and Capital Lease Obligations that impose restrictions
on the property purchased or leased of the nature described in clause (3) of Section 4.08(a) hereof;

 

(7)
any agreement for the sale or other disposition of all or substantially all of the Capital Stock or assets of a Restricted Subsidiary
that restricts distributions by that Restricted Subsidiary pending its sale or other disposition;

 

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(8)
Permitted Refinancing Indebtedness; provided that the encumbrances or restrictions contained in the agreements governing
such Permitted Refinancing Indebtedness are, in the good faith judgment of the senior management or Board of Directors of the Company,
not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being refinanced;

 

(9)
any restriction on the transfer of assets under any Lien permitted under this Indenture imposed by the holder of the Lien;

 

(10)
provisions limiting the disposition or distribution of assets or property in joint venture agreements, asset sale agreements, sale-leaseback
agreements, stock sale agreements and other similar agreements entered into in the ordinary course of business or with the approval
of the Company’s Board of Directors, which limitation is applicable only to the assets that are the subject of such agreements;

 

(11)
restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of
business; and

 

(12)
any other agreement governing Indebtedness incurred after the date of this Indenture that contains encumbrances or other restrictions
that are, in the good faith judgment of the Company, no more restrictive in any material respect taken as a whole than those encumbrances
and other restrictions that are customary in comparable financings.

 

Section
4.09          
Incurrence of Indebtedness and Issuance of Preferred Stock.

 

(a)   
The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur,
issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise (collectively, “incur”),
with respect to Indebtedness (including Acquired Debt), and the Company will not issue any Disqualified Stock and will not permit
any of its Restricted Subsidiaries to issue any shares of preferred stock; provided, however, that the Company may
incur Indebtedness (including Acquired Debt) or issue Disqualified Stock, and the Guarantors may incur Indebtedness (including
Acquired Debt) or issue preferred stock, if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full
fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness
is incurred or such Disqualified Stock or such preferred stock is issued, as the case may be, would have been at least 2.0 to 1.0,
determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness
had been incurred or the Disqualified Stock or the preferred stock had been issued, as the case may be, at the beginning of such
four-quarter period.

 

(b)   
The provisions of Section 4.09(a) hereof will not prohibit the incurrence of any of the following items of Indebtedness
(collectively, “Permitted Debt”):

 

(1)
the incurrence by the Company and any of its Restricted Subsidiaries of Indebtedness and letters of credit under Credit Facilities
in an aggregate principal amount at any one time outstanding under this clause (1) (with letters of credit being deemed to have
a principal amount equal to the maximum potential liability of the Company and its Restricted Subsidiaries thereunder) not to exceed
the greater of (x) $200.0 million and (y) the amount of the Borrowing Base as of the date of such incurrence;

 

(2)
the incurrence by the Company and its Restricted Subsidiaries of the Existing Indebtedness;

 

    43

     

    

 

(3)
the incurrence by the Company and the Guarantors of Indebtedness represented by the Notes and the related Note Guarantees to be
issued on the date of this Indenture;

 

(4)
the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness represented by Capital Lease Obligations, mortgage
financings or purchase money obligations, in each case incurred for the purpose of financing all or any part of the purchase price
or cost of design, construction, installation or improvement of property, plant or equipment used in the business of the Company
or any of its Restricted Subsidiaries (whether through the direct purchase of assets or the Equity Interests of any Person owning
such assets), in an aggregate principal amount, including all Permitted Refinancing Indebtedness incurred to renew, refund, refinance,
replace, defease or discharge any Indebtedness incurred pursuant to this clause (4), not to exceed the greater of (i) 4.0% of Total
Assets or (ii) $125.0 million at any time outstanding;

 

(5)
the incurrence by the Company or any of its Restricted Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the
net proceeds of which are used to renew, refund, refinance, replace, defease or discharge any Indebtedness (other than intercompany
Indebtedness or 2025 Senior Notes) that was permitted by this Indenture to be incurred under Section 4.09(a) or clauses (2), (3),
(4), (5), (16) or (17) of this Section 4.09(b);

 

(6)
the incurrence by the Company or any of its Restricted Subsidiaries of intercompany Indebtedness between or among the Company and
any of its Restricted Subsidiaries; provided, however, that:

 

(a)   
if the Company or any Guarantor is the obligor on such Indebtedness and the payee is not the Company or a Guarantor, such
Indebtedness must be expressly subordinated to the prior payment in full in cash of all Obligations then due with respect to the
Notes, in the case of the Company, or the Note Guarantee, in the case of a Guarantor; and

 

(b)   
(i) any subsequent issuance or transfer of Equity Interests that results in any such Indebtedness being held by a Person
other than the Company or a Restricted Subsidiary of the Company and (ii) any sale or other transfer of any such Indebtedness to
a Person that is not either the Company or a Restricted Subsidiary of the Company, will be deemed, in each case, to constitute
an incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that was not permitted by
this clause (6);

 

(7)
the issuance by any of the Company’s Restricted Subsidiaries to the Company or to any of its Restricted Subsidiaries of shares
of preferred stock; provided, however, that:

 

(a)   
any subsequent issuance or transfer of Equity Interests that results in any such preferred stock being held by a Person
other than the Company or a Restricted Subsidiary of the Company; and

 

(b)   
any sale or other transfer of any such preferred stock to a Person that is not either the Company or a Restricted Subsidiary
of the Company,

 

will
be deemed, in each case, to constitute an issuance of such preferred stock by such Restricted Subsidiary that was not permitted
by this clause (7);

 

(8)
the incurrence by the Company or any of its Restricted Subsidiaries of Hedging Obligations in the ordinary course of business;

 

    44

     

    

 

(9)
the Guarantee by the Company or any of its Restricted Subsidiaries of Indebtedness of the Company or a Restricted Subsidiary of
the Company that was permitted to be incurred by another provision of this Section 4.09; provided that if the Indebtedness
being guaranteed is subordinated to or pari passu with the Notes, then the Guarantee shall be subordinated or pari passu,
as applicable, to the same extent as the Indebtedness guaranteed;

 

(10)
the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness in respect of bankers’ acceptances, performance,
bid and surety bonds and completion guarantees provided in the ordinary course of business;

 

(11)
the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness arising from the honoring by a bank or other
financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds in the ordinary course
of business;

 

(12)
the incurrence of Indebtedness arising from agreements of the Company or any of its Restricted Subsidiaries providing for indemnification,
adjustment of purchase price or similar obligations, in each case, incurred in connection with the disposition of any business,
assets or a Restricted Subsidiary, other than the Guarantees of Indebtedness incurred by any Person acquiring all or any portion
of such business, assets or a Restricted Subsidiary for the purpose of financing such acquisition; provided, however, that
the maximum assumable liability in respect of all such Indebtedness shall at no time exceed the gross proceeds including non-cash
proceeds (the Fair Market Value of such non-cash proceeds being measured at the time received and without giving effect to any
subsequent changes in value) actually received by the Company and Restricted Subsidiaries in connection with such disposition;

 

(13)
the incurrence of Indebtedness owed to any Person in connection with worker’s compensation, self-insurance, health, disability
or other employee benefits or property, casualty or liability insurance provided by such Person to the Company or any of its Restricted
Subsidiaries, pursuant to reimbursement or indemnification obligations to such Person, in each case incurred in the ordinary course
of business and consistent with past practices;

 

(14)
pledges, deposits or payments made or given in the ordinary course of business in connection with or to secure statutory, regulatory
or similar obligations, including obligations under health, safety or environmental obligations, or arising from guarantees to
suppliers, lessors, licenses, contractors, franchisees or customers of obligations, other than Indebtedness, made in the ordinary
course of business;

 

(15)
the incurrence of Indebtedness by the Company or any of its Restricted Subsidiaries issued to directors, officers or employees
of the Company or any of its Restricted Subsidiaries in connection with the redemption or purchase of Capital Stock that, by its
terms, is subordinated to the Notes, is not secured by any assets of the Company or any of its Restricted Subsidiaries and does
not require cash payments prior to the Stated Maturity of the Notes, in an aggregate principal amount at any time outstanding not
to exceed $5.0 million;

 

(16)
the incurrence of Indebtedness by the Company or any Restricted Subsidiary to finance the acquisition (including, without limitation,
by way of a merger) of Capital Stock of any Person engaged in, or assets used or useful in, a Permitted Business; provided that
the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial
statements are available immediately preceding the date on which such Indebtedness is incurred would have been at least 1.75 to
1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the Indebtedness
had been incurred at the beginning of such four-quarter period; and

 

    45

     

    

 

(17)
the incurrence by the Company or any of its Restricted Subsidiaries of additional Indebtedness in an aggregate principal amount
(or accreted value, as applicable) at any time outstanding, including all Permitted Refinancing Indebtedness incurred to renew,
refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause (17), not to exceed the greater
of (i) 4.0% of Total Assets or (ii) $125.0 million.

 

The
Company will not incur, and will not permit any Guarantor to incur, any Indebtedness (including Permitted Debt) that is contractually
subordinated in right of payment to any other Indebtedness of the Company or such Guarantor unless such Indebtedness is also contractually
subordinated in right of payment to the Notes and the applicable Note Guarantee on substantially identical terms; provided, however,
that no Indebtedness will be deemed to be contractually subordinated in right of payment to any other Indebtedness of the Company
solely by virtue of being unsecured or by virtue of being secured on a first or junior priority basis.

 

For
purposes of determining compliance with this Section 4.09, in the event that an item of proposed Indebtedness meets the criteria
of more than one of the categories of Permitted Debt described in clauses (1) through (17) above, or is entitled to be incurred
pursuant to Section 4.09(a) hereof, the Company will be permitted to classify such item of Indebtedness on the date of its incurrence,
or later reclassify all or a portion of such item of Indebtedness, in any manner that complies with this Section 4.09. Indebtedness
under Credit Facilities outstanding on the date on which Notes are first issued and authenticated under this Indenture will initially
be deemed Existing Indebtedness. The accrual of interest, the accretion or amortization of original issue discount, the payment
of interest on any Indebtedness in the form of additional Indebtedness with the same terms, the reclassification of preferred stock
as Indebtedness due to a change in accounting principles, and the payment of dividends on Disqualified Stock in the form of additional
shares of the same class of Disqualified Stock will not be deemed to be an incurrence of Indebtedness or an issuance of Disqualified
Stock for purposes of this Section 4.09. Notwithstanding any other provision of this Section 4.09, the maximum amount of Indebtedness
that the Company or any Restricted Subsidiary may incur pursuant to this Section 4.09 shall not be deemed to be exceeded solely
as a result of fluctuations in exchange rates or currency values.

 

The
amount of any Indebtedness outstanding as of any date will be:

 

(1)
the accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue discount;

 

(2)
the principal amount of the Indebtedness, in the case of any other Indebtedness; and

 

(3)
in respect of Indebtedness of another Person secured by a Lien on the assets of the specified Person, the lesser of:

 

(A) 
the Fair Market Value of such assets at the date of determination; and

 

(B) 
the amount of the Indebtedness of the other Person.

 

    46

     

    

 

Section
4.10          
Asset Sales.

 

The
Company will not, and will not permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless:

 

(1)
the Company (or the Restricted Subsidiary, as the case may be) receives consideration at the time of the Asset Sale at least equal
to the Fair Market Value (measured as of the date of the definitive agreement with respect to such Asset Sale) as determined in
good faith by the Company, of the assets or Equity Interests issued or sold or otherwise disposed of; and

 

(2)
at least 75% of the consideration received in the Asset Sale by the Company or such Restricted Subsidiary is in the form of cash
or Cash Equivalents. For purposes of this provision, each of the following will be deemed to be cash:

 

(A) 
any liabilities, as shown on the Company’s most recent consolidated balance sheet, of the Company or any Restricted
Subsidiary (other than contingent liabilities and liabilities that are by their terms subordinated to the Notes or any Note Guarantee)
that are assumed by the transferee of any such assets and the Company or such Restricted Subsidiary is released from further liability;

 

(B) 
any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such transferee
that are converted by the Company or such Restricted Subsidiary into cash within 180 days after such Asset Sale, to the extent
of the cash received in that conversion;

 

(C) 
any Designated Non-cash Consideration received by the Company or such Restricted Subsidiary in such Asset Sale having an
aggregate Fair Market Value, taken together with all other Designated Non-cash Consideration received pursuant to this clause (c)
that is at that time outstanding, not to exceed the greater of (i) $100.0 million or (ii) 3.0% of Total Assets, with the Fair Market
Value of each item of Designated Non-cash Consideration being measured at the time received and with giving effect to subsequent
changes in value; and

 

(D) 
any stock or assets of the kind referred to in clauses (2) or (4) of the next paragraph of this Section 4.10.

 

Any
Asset Sale pursuant to a condemnation, appropriation or other similar taking, including by deed in lieu of condemnation, or pursuant
to the foreclosure or other enforcement of a Permitted Lien or exercise by the related lienholder of rights with respect to any
of the foregoing, including by deed or assignment in lieu of foreclosure, will not be required to satisfy the conditions set forth
in the preceding paragraph. Within 360 days after the receipt of any Net Proceeds from an Asset Sale, the Company (or the applicable
Restricted Subsidiary, as the case may be) may apply such Net Proceeds, at its option:

 

(1)           to
repay, prepay or purchase Indebtedness and other Obligations under a Credit Facility and, if the Indebtedness repaid is revolving
credit Indebtedness, to correspondingly reduce commitments with respect thereto;

 

(2)           to
acquire all or substantially all of the assets of another Permitted Business, or to acquire any Capital Stock of another Permitted
Business, if, after giving effect to any such acquisition of Capital Stock, the Permitted Business is or becomes a Restricted Subsidiary
of the Company;

 

(3)           to
make a capital expenditure;

 

(4)           to
acquire other assets that are not classified as current assets under GAAP and that are used or useful in a Permitted Business;
or

 

(5)           any
combination of the foregoing clauses (1) through (4).

 

    47

     

    

 

In
the case of clauses (2) and (4) above, the Company will be deemed to have complied with its obligations in the preceding paragraph
if it enters into a binding commitment to acquire such assets or Capital Stock prior to 360 days after the receipt of the applicable
Net Proceeds; provided that such binding commitment will be subject only to customary conditions and such acquisition is completed
within 180 days following the expiration of the aforementioned 360 day period. If the acquisition contemplated by such binding
commitment is not consummated on or before such 180th day, and the Company has not applied the applicable Net Proceeds for another
purpose permitted by the preceding paragraph on or before such 180th day, such commitment shall be deemed not to have been a permitted
application of Net Proceeds. Pending the final application of any Net Proceeds, the Company may temporarily reduce revolving credit
borrowings or otherwise invest the Net Proceeds in any manner that is not prohibited by this Indenture. 

 

Any
Net Proceeds from Asset Sales that are not applied or invested as provided in the second paragraph of this Section 4.10 will constitute
“Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $25.0 million, within 30 days thereof,
the Company will make an Asset Sale Offer to all Holders of Notes and all Holders of other Indebtedness that is pari passu with
the Notes (containing provisions similar to those set forth in this Indenture with respect to offers) to purchase, prepay or redeem
with the proceeds of sales of assets to purchase, prepay or redeem the maximum principal amount of Notes and such other pari passu
Indebtedness (plus all accrued interest on the Indebtedness and the amount of all fees and expenses, including premiums, incurred
in connection therewith) that may be purchased, prepaid or redeemed out of the Excess Proceeds. The offer price in any Asset Sale
Offer will be equal to 100% of the principal amount plus accrued and unpaid interest, if any, to the date of purchase, prepayment
or redemption, subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest
payment date, and will be payable in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Company
may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the aggregate principal amount of
Notes and other pari passu Indebtedness tendered into (or required to be prepaid or redeemed in connection with) such Asset Sale
Offer exceeds the amount of Excess Proceeds, the Trustee will select the Notes and such other pari passu Indebtedness to be purchased
on a pro rata basis, based on the amounts tendered or required to be prepaid or redeemed. Upon completion of each Asset Sale Offer,
the amount of Excess Proceeds will be reset at zero.

 

Any
Asset Sale Offer will be made in compliance with all applicable laws, rules and regulations, including, if applicable, Regulation
14e-1 under the Exchange Act and the rules thereunder and all other applicable Federal and state securities laws. To the extent
that the provisions of any securities laws or regulations conflict with the provisions of this Section 4.10, the Company’s
compliance with those laws and regulations will not in and of itself cause a breach of its obligations under this Section 4.10.

 

Section
4.11          
Transactions with Affiliates.

 

(a)   
The Company will not, and will not permit any of its Restricted Subsidiaries to, on or after the date of this Indenture,
make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property
or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee
with, or for the benefit of, any Affiliate of the Company (each, an “Affiliate Transaction”), involving aggregate
consideration in excess of $5.0 million, unless:

 

(1)
the Affiliate Transaction is on terms that are not materially less favorable to the Company or the relevant Restricted Subsidiary
than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with a Person
that is not an Affiliate of the Company; and

 

    48

     

    

 

(2)
the Company delivers to the Trustee:

 

(A) 
with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration
in excess of $25.0 million, a resolution of the Board of Directors of the Company set forth in an Officers’ Certificate certifying
that such Affiliate Transaction complies with this Section 4.11(a) and that such Affiliate Transaction has been approved by a majority
of the disinterested members of the Board of Directors of the Company or, if none, a disinterested representative appointed by
the Board of Directors for such purpose; and

 

(B) 
with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration
in excess of $50.0 million, an opinion as to the fairness to the Company or such Subsidiary of such Affiliate Transaction from
a financial point of view or that such Affiliate Transaction is not less favorable to the Company and its Restricted Subsidiaries
than could reasonably be expected to be obtained in a comparable transaction with a Person that is not an Affiliate of the Company,
as issued by an accounting, appraisal or investment banking firm of national standing.

 

(b)   
The following items will not be deemed to be Affiliate Transactions and, therefore, will not be subject to the provisions
of Section 4.11(a) hereof:

 

(1)
any employment agreement, officer or director indemnification agreement or any similar arrangement entered into by the Company
or any of its Restricted Subsidiaries in the ordinary course of business and payments pursuant thereto;

 

(2)
transactions between or among the Company and/or its Restricted Subsidiaries;

 

(3)
transactions with a Person (other than an Unrestricted Subsidiary of the Company) that is an Affiliate of the Company solely because
the Company owns, directly or through a Restricted Subsidiary, an Equity Interest in, or controls, such Person;

 

(4)
fees and compensation paid to officers and employees of the Company or any Restricted Subsidiaries, to the extent such fees and
compensation are reasonable and customary, and payment of reasonable directors’ fees to Persons who are not otherwise Affiliates
of the Company;

 

(5)
any issuance or sale of Equity Interests (other than Disqualified Stock) of the Company to Affiliates, employees, officers and
directors of the Company or any of its Restricted Subsidiaries;

 

(6)
Restricted Payments that are permitted by Section 4.07 hereof;

 

(7)
maintenance in the ordinary course of business of customary benefit programs or arrangements for employees, officers or directors,
including vacation plans, health and life insurance plans, deferred compensation plans and retirement or savings plans and similar
plans;

 

    49

     

    

 

(8)
loans or advances to employees that are permitted under the definition of Permitted Investments contained herein;

 

(9)
any agreement as in effect and entered into as of the date of this Indenture, or any amendment thereto or any transaction contemplated
thereby (including pursuant to any amendment thereto) in any replacement agreement thereto so long as any such amendment or replacement
agreement is not more disadvantageous to the Holders of the Notes in any material respect than the original agreement as in effect
on the date of this Indenture;

 

(10)
any transaction or series of transactions between the Company or any Restricted Subsidiary and any of their Joint Ventures; provided
that (a) such transaction or series of transactions is in the ordinary course of business between the Company or such Restricted
Subsidiary and such Joint Venture and (b) with respect to any such Affiliate Transaction involving aggregate consideration in excess
of $25.0 million, such Affiliate Transaction complies with Section 4.11(a)(1) hereof and such Affiliate Transaction has been approved
by the Board of Directors of the Company; and

 

(11)
any service, purchase, lease, supply or similar agreement entered into in the ordinary course of business between the Company or
any Restricted Subsidiary and any Affiliate that is a customer, client, supplier or purchaser or seller of goods or services, so
long as the senior management or Board of Directors of the Company determines in good faith that any such agreement is on terms
not materially less favorable to the Company or such Restricted Subsidiary than those that could be obtained in a comparable arms’-length
transaction with an entity that is not an Affiliate.

 

Section
4.12          
Liens.

 

The
Company will not, and will not permit any Guarantor to, directly or indirectly, create, incur, assume or suffer to exist any Lien
of any kind (other than Permitted Liens) to secure Indebtedness of any kind on any asset now owned or hereafter acquired, unless
all payments due under this Indenture and the Notes are secured on an equal and ratable basis with the obligations so secured (or,
if such obligations are subordinated by their terms to the Notes or the Note Guarantees, prior to the obligations so secured) until
such time as such obligations are no longer secured by a Lien.

 

Any
Lien created for the benefit of the Holders of the Notes pursuant to the preceding paragraph shall provide by its terms that such
Lien shall be automatically and unconditionally released and discharged upon the release and discharge of the Lien that gave rise
to the obligation to so secure the Notes or the Note Guarantees.

 

Section
4.13          
Business Activities.

 

The
Company will not, and will not permit any of its Restricted Subsidiaries to, engage in any business other than Permitted Businesses,
except to such extent as would not be material to the Company and its Restricted Subsidiaries taken as a whole, as reasonably determined
in good faith by the Board of Directors of the Company.

 

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Section
4.14          
Corporate Existence.

 

Subject
to Article 5 hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect:

 

(1)
its corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the
respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; and

 

(2)
the rights (charter and statutory), licenses and franchises of the Company and its Subsidiaries; provided, however, that
the Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence
of any of its Subsidiaries, if the Board of Directors shall determine that the preservation thereof is no longer desirable in the
conduct of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any
material respect to the Holders of the Notes.

 

Section
4.15          
Offer to Repurchase Upon Change of Control.

 

(a)   
If a Change of Control occurs, the Company will be required to make an offer (a “Change of Control Offer”)
to each Holder of Notes to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of
that Holder’s Notes pursuant to the terms set forth herein. In the Change of Control Offer (subject to the conditions required
by applicable law, if any), the Company will offer a Change of Control Payment in cash equal to 101% of the aggregate principal
amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to the date of purchase, subject
to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest payment date (the
“Change of Control Payment”). Within 30 days following any Change of Control, the Company will mail a notice
to each Holder describing the transaction or transactions that constitute the Change of Control and offering to repurchase Notes
on the Change of Control Payment Date specified in the notice, which date will be no earlier than 30 days and no later than 60
days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures
required by this Indenture and described in such notice. Holders electing to have a Note purchased pursuant to a Change of Control
Offer will be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” on the reverse
of the Note completed, to the Paying Agent at the address specified in the notice of Change of Control Offer prior to the close
of business on the third Business Day prior to the Change of Control Payment Date.

 

Any
Change of Control Offer will be made in compliance with all applicable laws, rules and regulations, including, if applicable, Regulation
14e-1 under the Exchange Act and the rules thereunder and all other applicable Federal and state securities laws in connection
with the repurchase of the Notes pursuant to the Change of Control Offer. To the extent that the provisions of any securities laws
or regulations conflict with the provisions of this Section 4.15, the Company’s compliance with those laws and regulations
will not in and of itself cause a breach of its obligations under this Section 4.15.

 

(b)   
On the Change of Control Payment Date, the Company will, to the extent lawful:

 

(1)
accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer;

 

(2)
deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly
tendered; and

 

(3)
deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate stating
the aggregate principal amount of Notes or portions of Notes being purchased by the Company.

 

    51

     

    

 

The
Paying Agent will promptly mail to each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the
Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal
amount to any unpurchased portion of the Notes surrendered, if any. The Company will publicly announce the results of the Change
of Control Offer on or as soon as practicable after the Change of Control Payment Date.

 

The
Company will not be required to make a Change of Control Offer upon a Change of Control if (1) a third party makes the Change of
Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.15 and
purchases all Notes properly tendered and not withdrawn under the Change of Control Offer, or (2) notice of redemption has been
given pursuant to Section 3.07 hereof, unless and until there is a default in payment of the applicable redemption price. Notwithstanding
anything to the contrary contained herein, a Change of Control Offer may be made in advance of a Change of Control, conditioned
upon the consummation of such Change of Control, if a definitive agreement is in place for the Change of Control at the time the
Change of Control Offer is made.

 

Section
4.16          
[Reserved.]

 

Section
4.17          
Limitation on Sale and Leaseback Transactions.

 

The
Company will not, and will not permit any of its Restricted Subsidiaries to, enter into any sale and leaseback transaction; provided
that the Company or any Guarantor may enter into a sale and leaseback transaction if:

 

(1)
the Company or that Guarantor, as applicable, could have (a) incurred Indebtedness in an amount equal to the Attributable Debt
relating to such sale and leaseback transaction under the Fixed Charge Coverage Ratio test in Section 4.09(a) hereof and (b) incurred
a Lien to secure such Indebtedness pursuant to the provisions of Section 4.12 hereof;

 

(2)
the gross cash proceeds of that sale and leaseback transaction are at least equal to the Fair Market Value of the property that
is the subject of that sale and leaseback transaction; and

 

(3)
the transfer of assets in that sale and leaseback transaction is permitted by, and the Company applies the proceeds of such transaction
in compliance with, Section 4.10 hereof.

 

Section
4.18          
Payments for Consent.

 

The
Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, pay or cause to be paid any
consideration to or for the benefit of any Holder of Notes for or as an inducement to any consent, waiver or amendment of any of
the terms or provisions of this Indenture or the Notes unless such consideration is offered to be paid and is paid to all Holders
of the Notes that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent,
waiver or agreement.

 

Section
4.19          
Additional Note Guarantees.

 

If
the Company or any of its Restricted Subsidiaries acquires or creates another Domestic Subsidiary after the date of this Indenture,
then that newly acquired or created Domestic Subsidiary will become a Guarantor and execute a supplemental indenture and deliver
an Opinion of Counsel (subject to customary assumptions and exceptions) satisfactory to the Trustee within 10 Business Days of
the date on which it was acquired or created; provided that any Domestic Subsidiary that constitutes an Immaterial Subsidiary
need not become a Guarantor until such time as it ceases to be an Immaterial Subsidiary. The form of such supplemental indenture
and the related additional Note Guarantee are each attached hereto as Exhibit C and Exhibit B, respectively.

 

    52

     

    

 

Section
4.20          
Designation of Restricted and Unrestricted Subsidiaries.

 

The
Board of Directors of the Company may designate any Restricted Subsidiary to be an Unrestricted Subsidiary if that designation
would not cause a Default. If a Restricted Subsidiary is designated as an Unrestricted Subsidiary the aggregate Fair Market Value
of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the Subsidiary designated as Unrestricted
will be deemed to be an Investment made as of the time of the designation and will reduce the amount available for Restricted Payments
under Section 4.07 hereof or under one or more clauses of the definition of Permitted Investments, as determined by the Company.
That designation will only be permitted if the Investment would be permitted at that time and if the Restricted Subsidiary otherwise
meets the definition of an Unrestricted Subsidiary. The Board of Directors of the Company may redesignate any Unrestricted Subsidiary
to be a Restricted Subsidiary if that redesignation would not cause a Default.

 

Any
designation of a Subsidiary of the Company as an Unrestricted Subsidiary will be evidenced to the Trustee by filing with the Trustee
a certified copy of a resolution of the Board of Directors giving effect to such designation and an Officers’ Certificate
certifying that such designation complied with the preceding conditions and was permitted by Section 4.07 hereof. If, at any time,
any Unrestricted Subsidiary would fail to meet the preceding requirements as an Unrestricted Subsidiary, it will thereafter cease
to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary will be deemed to be incurred
by a Restricted Subsidiary of the Company as of such date and, if such Indebtedness is not permitted to be incurred as of such
date under Section 4.09 hereof, the Company will be in default of such covenant. The Board of Directors of the Company may at any
time designate any Unrestricted Subsidiary to be a Restricted Subsidiary of the Company; provided that such designation
will be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of
such Unrestricted Subsidiary, and such designation will only be permitted if (1) such Indebtedness is permitted under Section 4.09
hereof, calculated on a pro forma basis as if such designation had occurred at the beginning of the four-quarter reference period;
and (2) no Default or Event of Default would result following such designation.

 

Section
4.21          
Effectiveness of Covenants.

 

(a)        If
after the date of this Indenture, (1) the Notes have an Investment Grade Rating from two of the Rating Agencies and (2) no
Default has occurred and is continuing under this Indenture, then, the Company and its Restricted Subsidiaries will not be subject
to the following provisions of this Indenture (collectively, the “Suspended Covenants”):

 

(1) Section
4.15;

 

(2) Section
4.10;

 

(3) Section
4.07;

 

(4) Section
4.09;

 

(5) Section
5.01(4);

 

(6) Section
4.11; and

 

(7) Section
4.08.

 

    53

     

    

 

(b)       If
at any time the Notes’ credit rating is downgraded from an Investment Grade Rating by any Rating Agency, then the Suspended
Covenants will thereafter be reinstated with respect to future events (the “Reinstatement Date”), unless and
until the notes subsequently attain an Investment Grade Rating from two of the Ratings Agencies and no Default or Event of Default
is in existence (in which event the Suspended Covenants shall no longer be in effect for such time that the notes maintain an Investment
Grade Rating from two of the Ratings Agencies and no Default or Event of Default is in existence); provided, however,
that no Default, Event of Default or breach of any kind shall be deemed to exist under this Indenture, the Notes or the Note Guarantees
with respect to the Suspended Covenants based on, and none of the Company or any of its Subsidiaries shall bear any liability for,
any actions taken or events occurring during the Suspension Period (as defined below), or any actions taken at any time pursuant
to any contractual obligation arising prior to the Reinstatement Date, regardless of whether such actions or events would have
been permitted if the applicable Suspended Covenants remained in effect during such period. The period of time between the date
of suspension of the covenants and the Reinstatement Date is referred to as the “Suspension Period.” The Company
will notify the Trustee of the commencement or termination of any Suspension Period.

 

(c)       In
the event of any reinstatement, all Indebtedness incurred during the Suspension Period will be classified to have been incurred
pursuant to Section 4.09(b)(2) and all Restricted Payments made after such reinstatement will be calculated as though the limitations
contained in Section 4.07 had been in effect prior to, but not during, the Suspension Period.

 

(d)       For
purposes of Section 4.08, on the Reinstatement Date, any consensual encumbrances or restrictions of the type specified in Section
4.08(a)(1), 4.08(a)(2) or 4.08(a)(3) entered into during the Suspension Period will be deemed to have been in effect on the date
of this Indenture, so that they are permitted under Section 4.08(a).

 

(e)       For
purposes of Section 4.11, any Affiliate Transaction entered into after the Reinstatement Date pursuant to a contract, agreement,
loan, advance or guaranty with, or for the benefit of, any Affiliate of the Company entered into during the Suspension Period will
be deemed to have been in effect as of the date of this Indenture for purposes of Section 4.11(b)(6).

 

(f)       During
any period when the Suspended Covenants are suspended, the Board of Directors of the Company may not designate any of the Company’s
Subsidiaries as Unrestricted Subsidiaries pursuant to this Indenture.

 

ARTICLE
5

SUCCESSORS

 

Section
5.01          
Merger, Consolidation, or Sale of Assets.

 

The
Company will not, directly or indirectly: (1) consolidate or merge with or into another Person (whether or not the Company is the
surviving entity); or (2) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or
assets (such amounts to be computed on a consolidated basis) of the Company and its Restricted Subsidiaries taken as a whole, in
one or more related transactions, to another Person, unless:

 

    54

     

    

 

 

(1)
either: (a) the Company is the surviving corporation; or (b) the Person formed by or surviving any such consolidation or merger
(if other than the Company) or to which such sale, assignment, transfer, conveyance or other disposition has been made is either
(i) a corporation organized or existing under the laws of the United States, any state of the United States or the District of
Columbia or (ii) a partnership or limited liability company organized or existing under the laws of the United States, any state
of the United States or the District of Columbia that has at least one Restricted Subsidiary that is a corporation organized or
existing under the laws of the United States, any state of the United States or the District of Columbia, which corporation becomes
the co-issuer of the Notes pursuant to a supplemental indenture reasonably satisfactory to the Trustee;

 

(2)
the Person formed by or surviving any such consolidation or merger (if other than the Company) or the Person to which such sale,
assignment, transfer, conveyance or other disposition has been made assumes all the obligations of the Company under the Notes
and this Indenture pursuant to agreements reasonably satisfactory to the Trustee;

 

(3)
immediately after such transaction, no Default or Event of Default exists; and

 

(4)
the Company or the Person formed by or surviving any such consolidation or merger (if other than the Company), or to which such
sale, assignment, transfer, conveyance or other disposition has been made would, on the date of such transaction after giving pro
forma effect thereto and any related financing transactions as if the same had occurred at the beginning of the applicable four-quarter
period, either:

 

(A) 
be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth
in Section 4.09(a) hereof.

 

(B) 
have a Fixed Charge Coverage Ratio that is equal to or greater than the Fixed Charge Coverage Ratio of the Company immediately
prior to such consolidation, merger, sale, assignment, transfer, conveyance or other disposition.

 

In
addition, the Company will not, directly or indirectly, lease all or substantially all of the properties and assets of it and its
Restricted Subsidiaries taken as a whole, in one or more related transactions, to any other Person, other than in compliance with
this Section 5.01.

 

This
Section 5.01 will not apply to:

 

(1)
a merger of the Company with an Affiliate solely for the purpose of reincorporating the Company in another jurisdiction; or

 

(2)
any consolidation or merger, or any sale, assignment, transfer, conveyance, lease or other disposition of assets between or among
the Company and its Restricted Subsidiaries.

 

Section
5.02          
Successor Corporation Substituted.

 

Upon
any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially
all of the properties or assets of the Company in a transaction that is subject to, and that complies with the provisions of, Section
5.01 hereof, the successor Person formed by such consolidation or into or with which the Company is merged or to which such sale,
assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and
after the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition, the provisions
of this Indenture referring to the “Company” shall refer instead to the successor Person and not to the Company), 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; provided, however, that the predecessor Company shall not be relieved from the obligation to
pay the principal of, premium on, if any, and interest, if any, on, the Notes except in the case of a sale of all of the Company’s
assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof.

 

    55

     

    

 

ARTICLE
6

DEFAULTS AND REMEDIES

 

Section
6.01          
Events of Default.

 

Each
of the following will be an “Event of Default”:

 

(1)
default for 30 consecutive days in the payment when due of interest on the Notes;

 

(2)
default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any, on, the Notes;

 

(3)
failure by the Company or any of its Restricted Subsidiaries for 60 days after written notice to the Company by the Trustee or
the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class to comply with
any of the other agreements in this Indenture;

 

(4)
default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced
any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed
by the Company or any of its Restricted Subsidiaries), whether such Indebtedness or Guarantee now exists, or is created after the
date of this Indenture, if that default:

 

(A) 
is caused by a failure to pay principal of, or interest or premium, if any, on, such Indebtedness prior to the expiration
of the grace period provided in such Indebtedness on the date of such default (a “Payment Default”); or

 

(B) 
results in the acceleration of such Indebtedness prior to its express maturity,

 

and,
in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness
under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $20.0 million or more;

 

(5)
failure by the Company or any of its Restricted Subsidiaries to pay final judgments entered by a court or courts of competent jurisdiction
aggregating in excess of $20.0 million (net of any amount covered by insurance from an insurer that has not denied liability therefor),
which judgments are not paid, discharged or stayed for a period of 60 days after their entry;

 

(6)
except as permitted by this Indenture, any Note Guarantee is held in any judicial proceeding to be unenforceable or invalid or
ceases for any reason to be in full force and effect, or any Guarantor, or any Person acting on behalf of any Guarantor, denies
or disaffirms its obligations under its Note Guarantee; and

 

    56

     

    

 

(7)
the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law:

 

(A) 
commences a voluntary case,

 

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

 

(C) 
consents to the appointment of a custodian of it or for all or substantially all of its property,

 

(D) 
makes a general assignment for the benefit of its creditors, or

 

(E)  
generally is not paying its debts as they become due; or

 

(8)
a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 

(A) 
is for relief against the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary in an involuntary case;

 

(B) 
appoints a custodian of the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group
of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary or for all or substantially
all of the property of the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted
Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary; or

 

(C) 
orders the liquidation of the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group
of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary;

 

and
the order or decree remains unstayed and in effect for 60 consecutive days.

 

Section
6.02          
Acceleration.

 

In
the case of an Event of Default specified in clause (7) or (8) of Section 6.01 hereof, with respect to the Company, any Restricted
Subsidiary of the Company that is a Significant Subsidiary or any group of Restricted Subsidiaries of the Company that, taken together,
would constitute a Significant Subsidiary, all outstanding Notes will become due and payable immediately without further action
or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal
amount of the then outstanding Notes may declare all the Notes to be due and payable immediately.

 

The
Holders of a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may, on behalf
of all of the Holders of the Notes, rescind an acceleration or waive any existing Default or Event of Default and its consequences
under this Indenture except a continuing Default or Event of Default in the payment of interest or premium, if any, on, or the
principal of, the Notes (except nonpayment of principal of, premium on, if any, or interest, if any, on the Notes that has become
due solely because of the acceleration).

 

    57

     

    

 

Section
6.03          
Other Remedies.

 

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

 

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

 

Section
6.04          
Waiver of Past Defaults.

 

The
Holders of a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may, on behalf
of the Holders of all of the Notes waive any existing Default or Event of Default and its consequences hereunder, except a continuing
Default or Event of Default in the payment of principal of, premium on, if any, or interest, if any, on, the Notes (including in
connection with an offer to purchase); provided, however, that the Holders of a majority in aggregate principal amount of
the then outstanding Notes may rescind an acceleration and its consequences, including any related payment default that resulted
from such acceleration. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall
be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default
or impair any right consequent thereon.

 

Section
6.05          
Control by Majority.

 

Holders
of a majority in aggregate principal amount of the then outstanding Notes may direct the time, method and place of conducting any
proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee
may refuse to follow any direction that conflicts with law or this Indenture that the Trustee determines in good faith may be prejudicial
to the rights of other Holders of Notes or that may involve the Trustee in personal liability.

 

Section
6.06          
Limitation on Suits.

 

No
Holder of a Note may pursue any remedy with respect to this Indenture or the Notes unless:

 

(1)
such Holder has previously given the Trustee notice that an Event of Default is continuing;

 

(2)
Holders of at least 25% in aggregate principal amount of the then outstanding Notes have requested the Trustee to pursue the remedy;

 

(3)
such Holders have offered the Trustee security or indemnity satisfactory to it against any loss, liability or expense;

 

(4)
the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity;
and

 

(5)
Holders of a majority in aggregate principal amount of the then outstanding Notes have not given the Trustee a direction inconsistent
with such request within such 60-day period.

 

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A
Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a Note or to obtain a preference or priority
over another Holder of a Note (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not
such actions or forbearances are unduly prejudicial to such Holders). In the event of any Event of Default specified in Section
6.01(4) above, such Event of Default and all consequences thereof (excluding any resulting payment default, other than as a result
of acceleration of the notes) shall be annulled, waived and rescinded, automatically and without any action by the trustee or the
holders, if within 30 days (or such longer period as may be provided for cure of the default in the agreement under which such
default may arise) after such Event of Default arose:

 

(1)
the Indebtedness or Guarantee that is the basis for such Event of Default has been discharged;

 

(2)
holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default;
or

 

(3)
the default that is the basis for such Event of Default has been cured.

 

Section
6.07          
Rights of Holders of Notes to Receive Payment.

 

Notwithstanding
any other provision of this Indenture, the right of any Holder of a Note to receive payment of principal of, premium on, if any,
and interest, if any, on, the Note, on or after the respective due dates expressed in the Note (including in connection with an
offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired
or affected without the consent of such Holder.

 

Section
6.08          
Collection Suit by Trustee.

 

If
an Event of Default specified in Section 6.01(1) or (2) hereof occurs and is continuing, the Trustee is authorized to recover judgment
in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium and interest
remaining unpaid on, the Notes and interest on overdue principal and, to the extent lawful, interest and such further amount as
shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel.

 

Section
6.09          
Trustee May File Proofs of Claim.

 

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

 

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Section
6.10          
Priorities.

 

If
the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order:

 

First:          to
the Trustee, its agents and attorneys for amounts due under Section 7.07 hereof, including payment of all compensation, expenses
and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection;

 

Second:     to
Holders of Notes for amounts due and unpaid on the Notes for principal, premium, if any, and interest, if any, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest,
if any, respectively; and

 

Third:        to
the Company or to such party as a court of competent jurisdiction shall direct.

 

The
Trustee may fix a record date and payment date for any payment to Holders of Notes pursuant to this Section 6.10.

 

Section
6.11          
Undertaking for Costs.

 

In
any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken
or omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking
to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses
made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant to
Section 6.07 hereof, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Notes.

 

ARTICLE
7

TRUSTEE

 

Section
7.01          
Duties of Trustee.

 

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

 

(b)   
Except during the continuance of an Event of Default:

 

(1)
the duties of the Trustee will be determined solely by the express provisions of this Indenture and the Trustee need perform only
those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

 

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(2)
in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture. However, in the case of certificates or opinions specifically required by any provision hereof to be furnished
to it, the Trustee will examine the certificates and opinions to determine whether or not they conform to the requirements of this
Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).

 

(c)   
The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its
own willful misconduct, except that:

 

(1)
this paragraph does not limit the effect of paragraph (b) of this Section 7.01;

 

(2)
the Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that
the Trustee was negligent in ascertaining the pertinent facts; and

 

(3)
the Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction
received by it pursuant to Section 6.05 hereof.

 

(d)   
Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is
subject to paragraphs (a), (b), and (c) of this Section 7.01.

 

(e)   
No provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. The Trustee
will be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless
such Holder has offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense.

 

(f)    
The Trustee will not be liable for interest on any money received by it except as the Trustee may agree in writing with
the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

 

Section
7.02          
Rights of Trustee.

 

(a)   
The Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any document believed
by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter
stated in the document.

 

(b)   
Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel
or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officers’
Certificate or Opinion of Counsel. The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel
will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it
hereunder in good faith and in reliance thereon.

 

(c)   
The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any
agent appointed with due care. No Depository shall be deemed an Agent, custodian or nominee and the Trustee shall not be responsible
for any act or omission by any Depository.

 

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(d)   
The Trustee will not be liable for any action it takes or omits to take in good faith that it believes to be authorized
or within the rights or powers conferred upon it by this Indenture.

 

(e)   
Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company will
be sufficient if signed by an Officer of the Company.

 

(f)    
The Trustee will 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 unless such Holders have offered to the Trustee indemnity or security satisfactory to it against
the losses, liabilities and expenses that might be incurred by it in compliance with such request or direction.

 

(g)   
In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood
of such loss or damage and regardless of the form of action;

 

(h)   
The Trustee shall not be deemed to have notice of any Default or Event of Default unless written notice of such Default
or Event of Default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, and such
notice references the Notes and this Indenture.

 

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

 

Section
7.03          
Individual Rights of Trustee.

 

The
Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company
or any Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee
acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as
trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like rights and duties.
The Trustee is also subject to Sections 7.10 and 7.11 hereof.

 

Section
7.04          
Trustee’s Disclaimer.

 

The
Trustee will not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes,
it shall not be accountable for the Company’s use of the proceeds from the Notes or any money paid to the Company or upon
the Company’s direction under any provision of this Indenture, it will not be responsible for the use or application of any
money received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or
any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture other than
its certificate of authentication.

 

Section
7.05          
Notice of Defaults.

 

If
a Default or Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee will mail to Holders of Notes
a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default
in payment of principal of, premium on, if any, or interest, if any, on, any Note, the Trustee may withhold the notice if and so
long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the
Holders of the Notes.

 

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Section
7.06          
Reports by Trustee to Holders of the Notes.

 

(a)   
Within 60 days after each May 15 beginning with the May 15 following the date of this Indenture, and for so long as Notes
remain outstanding, the Trustee will mail to the Holders of the Notes a brief report dated as of such reporting date that complies
with TIA § 313(a) (but if no event described in TIA § 313(a) has occurred within the twelve months preceding
the reporting date, no report need be transmitted). The Trustee also will comply with TIA § 313(b)(2). The Trustee will
also transmit by mail all reports as required by TIA § 313(c).

 

(b)   
A copy of each report at the time of its mailing to the Holders of Notes will be mailed by the Trustee to the Company and
filed by the Trustee with the SEC and each stock exchange on which the Notes are listed in accordance with TIA § 313(d).
The Company will promptly notify the Trustee when the Notes are listed on any stock exchange and of any delisting thereof.

 

Section
7.07          
Compensation and Indemnity.

 

(a)   
The Company will pay to the Trustee from time to time such compensation for its acceptance of this Indenture and services
hereunder as the parties shall agree in writing from time to time. The Trustee’s compensation will not be limited by any
law on compensation of a trustee of an express trust. The Company will reimburse the Trustee promptly upon request for all reasonable
and documented disbursements, advances and expenses incurred or made by it in addition to the compensation for its services; provided,
however, that the Company need not reimburse any expense or indemnity against any loss or liability determined to have been
caused by the Trustee’s own negligence or willful misconduct. Such expenses will include the reasonable compensation, disbursements
and expenses of the Trustee’s agents and counsel.

 

(b)   
The Company and the Guarantors, jointly and severally, will indemnify the Trustee against any and all losses, liabilities,
claims, damages or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties
under this Indenture, including the reasonable costs and expenses of enforcing this Indenture against the Company and the Guarantors
(including this Section 7.07) and defending itself against any claim (whether asserted by the Company, the Guarantors, any Holder
or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except
to the extent any such loss, liability or expense shall have been caused by its own negligence or willful misconduct. The Trustee
will notify the Company promptly of any claim of which it has received notice for which it may seek indemnity. Failure by the Trustee
to so notify the Company will not relieve the Company or any of the Guarantors of their obligations hereunder. The Company or such
Guarantor will defend the claim and the Trustee will cooperate in the defense. The Trustee may have separate counsel and the Company
will pay the reasonable fees and expenses of such counsel. Neither the Company nor any Guarantor need pay for any settlement made
without its consent, which consent will not be unreasonably withheld.

 

(c)   
The obligations of the Company and the Guarantors under this Section 7.07 will survive the satisfaction and discharge of
this Indenture.

 

(d)   
To secure the Company’s and the Guarantors’ payment obligations in this Section 7.07 until payment in full of
such payment obligations, the Trustee will have a Lien prior to the Notes on all money or property held or collected by the Trustee,
except that held in trust to pay principal of, premium on, if any, or interest, if any, on, particular Notes.

 

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(e)   
When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(7) or (8) hereof
occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended
to constitute expenses of administration under any Bankruptcy Law.

 

(f)    
The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent applicable.

 

Section
7.08          
Replacement of Trustee.

 

(a)   
A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor
Trustee’s acceptance of appointment as provided in this Section 7.08.

 

(b)   
The Trustee may resign in writing at any time and be discharged from the trust hereby created upon 30 days’ written
notice to the Company. The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee
by so notifying the Trustee and the Company in writing. The Company may remove the Trustee if:

 

(1)
the Trustee fails to comply with Section 7.10 hereof;

 

(2)
the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy
Law;

 

(3)
a custodian or public officer takes charge of the Trustee or its property; or

 

(4)
the Trustee becomes incapable of acting.

 

(c)   
If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company will promptly
appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal
amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company.

 

(d)   
If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee, the Company, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes may petition at
the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee.

 

(e)   
If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with
Section 7.10 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment
of a successor Trustee.

 

(f)    
A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon,
the resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers
and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders. The retiring
Trustee, upon payment of its charges hereunder, will promptly transfer all property held by it as Trustee to the successor Trustee;
provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof.
Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof
will continue for the benefit of the retiring Trustee.

 

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Section
7.09          
Successor Trustee by Merger, etc.

 

If
the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act will be the successor Trustee.

 

Section
7.10          
Eligibility; Disqualification.

 

There
will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States
of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision
or examination by federal or state authorities and that has a combined capital and surplus of at least $100.0 million as set forth
in its most recent published annual report of condition.

 

This
Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee is subject
to TIA § 310(b).

 

Section
7.11          
Preferential Collection of Claims Against Company.

 

The
Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who
has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein.

 

ARTICLE
8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

Section
8.01          
Option to Effect Legal Defeasance or Covenant Defeasance.

 

The
Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate,
elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth
below in this Article 8.

 

Section
8.02          
Legal Defeasance and Discharge.

 

Upon
the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Company and each
of the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been
discharged from their obligations with respect to all outstanding Notes (including the Note Guarantees) on the date the conditions
set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that
the Company and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding
Notes (including the Note Guarantees), which will thereafter be deemed to be “outstanding” only for the purposes of
Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all
their other obligations under such Notes, the Note Guarantees and this Indenture (and the Trustee, on demand of and at the expense
of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which will survive
until otherwise terminated or discharged hereunder:

 

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(1)
the rights of Holders of outstanding Notes to receive payments in respect of the principal of, premium on, if any, or interest,
if any, on, such Notes when such payments are due from the trust referred to in Section 8.04 hereof;

 

(2)
the Company’s obligations with respect to such Notes under Article 2 and Section 4.02 hereof;

 

(3)
the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Company’s and the Guarantors’ obligations
in connection therewith; and

 

(4)
this Article 8.

 

Subject
to compliance with this Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise
of its option under Section 8.03 hereof.

 

Section
8.03          
Covenant Defeasance.

 

Upon
the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Company and each
of the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from each of
their obligations under the covenants contained in Sections 3.09, 4.03, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.15, 4.17, 4.18,
4.19 and 4.20 hereof and clause (4) of Section 5.01 hereof with respect to the outstanding Notes on and after the date the conditions
set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Notes will thereafter
be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and
the consequences of any thereof) in connection with such covenants, but will continue to be deemed “outstanding” for
all other purposes hereunder (it being understood that such Notes will not be deemed outstanding for accounting purposes). For
this purpose, Covenant Defeasance means that, with respect to the outstanding Notes and Note Guarantees, the Company and the Guarantors
may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant,
whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference
in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default
or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes
and Note Guarantees will be unaffected thereby. In addition, upon the Company’s exercise under Section 8.01 hereof of the
option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, Sections
6.01(3) through 6.01(8) hereof will not constitute Events of Default.

 

Section
8.04          
Conditions to Legal or Covenant Defeasance.

 

In
order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof:

 

(1)
the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, non-callable
Government Securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized
investment bank, appraisal firm or independent registered public accounting firm, to pay the principal of, premium on, if any,
and interest, if any, on, the outstanding Notes on the stated date for payment thereof or on the applicable redemption date, as
the case may be, and the Company must specify whether the Notes are being defeased to such stated date for payment or to a particular
redemption date;

 

    66

     

    

 

(2)
in the case of an election under Section 8.02 hereof, the Company must deliver to the Trustee an Opinion of Counsel (subject to
customary assumptions and exceptions) confirming that:

 

(A) 
the Company has received from, or there has been published by, the Internal Revenue Service a ruling; or

 

(B) 
since the date of this Indenture, there has been a change in the applicable federal income tax law,

 

in
either case to the effect that, and based thereon such Opinion of Counsel (subject to customary assumptions and exceptions) shall
confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a
result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such Legal Defeasance had not occurred;

 

(3)
in the case of an election under Section 8.03 hereof, the Company must deliver to the Trustee an Opinion of Counsel (subject to
customary assumptions and exceptions) confirming that the Holders of the outstanding Notes will not recognize income, gain or loss
for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 

(4)
no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of Default
resulting from the borrowing of funds to be applied to such deposit and any similar and simultaneous deposit relating to other
Indebtedness and in each case the granting of Liens in connection therewith) and the deposit will not result in a breach or violation
of, or constitute a default under, any other material instrument to which the Company or any Guarantor is a party or by which the
Company or any Guarantor is bound;

 

(5)
such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material
agreement or instrument (other than this Indenture and agreements governing other Indebtedness being defeased, discharged or replaced)
to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound;

 

(6)
the Company must deliver to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with
the intent of preferring the Holders of Notes over the other creditors of the Company with the intent of defeating, hindering,
delaying or defrauding any creditors of the Company or others; and

 

(7)
the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel (subject to customary assumptions
and exceptions), each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been
complied with.

 

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Section
8.05          
Deposited Money
and Government Securities to be Held in Trust; Other Miscellaneous Provisions.

 

Subject
to Section 8.06 hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee
(or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section
8.04 hereof in respect of the outstanding Notes will be held in trust and applied by the Trustee, in accordance with the provisions
of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as
Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of
principal, premium, if any, and interest, if any, but such money need not be segregated from other funds except to the extent required
by law.

 

The
Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable
Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other
than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes.

 

Notwithstanding
anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Company from time to time upon the request of
the Company any money or non-callable Government Securities held by it as provided in Section 8.04 hereof which, in the opinion
of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the
Trustee (which may be the opinion delivered under Section 8.04(1) hereof), are in excess of the amount thereof that would then
be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

Section
8.06          
Repayment to Company.

 

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,
premium on, if any, or interest, if any, on, any Note and remaining unclaimed for two years after such principal, premium, if any,
or interest, if any, has become due and payable shall be paid to the Company on its request or (if then held by the Company) will
be discharged from such trust; and the Holder of such Note will thereafter be permitted to 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, will 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 the New York Times and The Wall Street
Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be
less than 30 days from the date of such notification or publication, any unclaimed balance of such money then remaining will be
repaid to the Company.

 

Section
8.07          
Reinstatement.

 

If
the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government Securities in accordance with Section
8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining
or otherwise prohibiting such application, then the Company’s and the Guarantors’ obligations under this Indenture
and the Notes and the Note Guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02
or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02
or 8.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium on,
if any, or interest, if any, on, any Note following the reinstatement of its obligations, the Company will be subrogated to the
rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent.

 

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ARTICLE
9

AMENDMENT, SUPPLEMENT AND WAIVER

 

Section
9.01          
Without Consent of Holders of Notes.

 

Notwithstanding
Section 9.02 of this Indenture, the Company, the Guarantors and the Trustee may amend, modify or supplement this Indenture or the
Notes or the Note Guarantees without the consent of any Holder of Notes:

 

(1)
to cure any ambiguity, omission, defect or inconsistency;

 

(2)
to provide for uncertificated Notes in addition to or in place of certificated Notes;

 

(3)
to provide for the assumption of the Company’s or a Guarantor’s obligations to the Holders of the Notes and Note Guarantees
pursuant to Article 5 or Article 10 hereof;

 

(4)
to make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely
affect the legal rights under this Indenture, the Notes or the Note Guarantees of any Holder;

 

(5)
to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA;

 

(6)
to conform the text of this Indenture, the Note Guarantees or the Notes to any provision of the “Description of Notes”
section of the Company’s prospectus supplement dated September 12, 2019, relating to the initial offering of the Notes, to
the extent that such provision in that “Description of Notes” was intended to be a verbatim recitation of a provision
of this Indenture, the Note Guarantees or the Notes, which intent may be evidenced by an Officers’ Certificate to that effect;

 

(7)
to provide for the issuance of Additional Notes in accordance with the limitations set forth in this Indenture;

 

(8)
to comply with the procedures of DTC or the Trustee with respect to the provisions of this Indenture and the Notes relating to
transfers and exchanges of Notes or beneficial interests in the Notes; or

 

(9)
to evidence the release of any Guarantor permitted to be released under the terms of this Indenture or to allow any Guarantor to
execute a supplemental indenture and/or a Note Guarantee with respect to the Notes.

 

Upon
the request of the Company, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will
join with the Company and the Guarantors in the execution of any amended or supplemental indenture authorized or permitted by the
terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the
Trustee will not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities
under this Indenture or otherwise.

 

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Section
9.02          
With Consent of Holders of Notes.

 

Except
as provided below in this Section 9.02, the Company and the Trustee may amend or supplement this Indenture (including, without
limitation, Section 3.09, 4.10 and 4.15 hereof) and the Notes and the Note Guarantees with the consent of the Holders of at least
a majority in aggregate principal amount of the then outstanding Notes (including, without limitation, Additional Notes, if any)
voting as a single class (including, without limitation, consents obtained in connection with a tender offer or exchange offer
for, or purchase of, the Notes), and, subject to Sections 6.04 and 6.07 hereof, any existing Default or Event of Default (other
than a Default or Event of Default in the payment of the principal of, premium on, if any, or interest, if any, on, the Notes,
except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture
or the Notes or the Note Guarantees may be waived with the consent of the Holders of a majority in aggregate principal amount of
the then outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without
limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes). Section 2.08
hereof shall determine which Notes are considered to be “outstanding” for purposes of this Section 9.02.

 

Upon
the request of the Company, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the
Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will
join with the Company and the Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental
indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case
the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture.

 

It
is not necessary for the consent of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed
amendment, supplement or waiver, but it is sufficient if such consent approves the substance thereof.

 

After
an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company will mail to the Holders of Notes affected
thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any
defect therein, will not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver.
Subject to Sections 6.04 and 6.07 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding
voting as a single class may waive compliance in a particular instance by the Company with any provision of this Indenture, the
Notes or the Note Guarantees. However, without the consent of each Holder affected, an amendment, supplement or waiver under this
Section 9.02 may not (with respect to any Notes held by a non-consenting Holder):

 

(1)
reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver;

 

(2)
reduce the principal of or change the fixed maturity of any Note or alter the provisions with respect to the redemption of the
Notes (except with respect to Sections 3.09, 4.10 and 4.15 hereof);

 

(3)
reduce the rate of or change the time for payment of interest, including default interest, on any Note;

 

(4)
waive a Default or Event of Default in the payment of principal of, or premium, if any, or interest on, the Notes (except a rescission
of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes
and a waiver of the payment default that resulted from such acceleration);

 

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(5)
make any Note payable in money other than that stated in the Notes;

 

(6)
make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of Notes to receive
payments of principal of, or interest or premium, if any, on, the Notes;

 

(7)
waive a redemption payment with respect to any Note (other than a payment required by Sections 3.09, 4.10 or 4.15 hereof);

 

(8)
release any Guarantor from any of its obligations under its Note Guarantee or this Indenture, except in accordance with the terms
of this Indenture; or

 

(9)
make any change in the preceding amendment, supplement and waiver provisions that requires each holder’s consent.

 

Section
9.03        
Compliance with Trust Indenture Act.

 

Every
amendment or supplement to this Indenture or the Notes will be set forth in an amended or supplemental indenture that complies
with the TIA as then in effect.

 

Section
9.04        
Revocation and Effect of Consents.

 

Until
an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder
of a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s
Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note
may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment, supplement
or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds
every Holder.

 

Section
9.05        
Notation on or Exchange of Notes.

 

The
Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company,
in exchange for all Notes, may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate new Notes that
reflect the amendment, supplement or waiver.

 

Failure
to make the appropriate notation or issue a new Note will not affect the validity and effect of such amendment, supplement or waiver.

 

Section
9.06        
Trustee to Sign Amendments, etc.

 

The
Trustee will sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does
not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amended or supplemental
indenture until the Board of Directors of the Company approves it. In executing any amended or supplemental indenture, the Trustee
shall be provided with and (subject to Section 7.01 hereof) will be fully protected in relying upon, in addition to the documents
required by Section 12.04 hereof, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such amended
or supplemental indenture is authorized or permitted by this Indenture.

 

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ARTICLE
10

NOTE GUARANTEES

 

Section
10.01       Guarantee.

 

(a)   
Subject to this Article 10, each of the Guarantors hereby, jointly and severally, unconditionally guarantees to each Holder
of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity
and enforceability of this Indenture, the Notes or the obligations of the Company hereunder or thereunder, that:

 

(1)
the principal of, premium on, if any, and interest, if any, on, the Notes will be promptly paid in full when due, whether at maturity,
by acceleration, redemption or otherwise, and interest on the overdue principal of, premium on, if any, and interest, if any, on
the Notes, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder will
be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and

 

(2)
in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be promptly
paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration
or otherwise.

 

Failing
payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantors will be jointly
and severally obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee
of collection.

 

(b)   
The Guarantors hereby agree that their obligations hereunder are unconditional, irrespective of the validity, regularity
or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder
of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to
enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor.
Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency
or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever
and covenant that this Note Guarantee will not be discharged except by complete performance of the obligations contained in the
Notes and this Indenture.

 

(c)   
If any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantors or any custodian,
trustee, liquidator or other similar official acting in relation to either the Company or the Guarantors, any amount paid by either
to the Trustee or such Holder, this Note Guarantee, to the extent theretofore discharged, will be reinstated in full force and
effect.

 

(d)   
Each Guarantor agrees that it will not be entitled to any right of subrogation in relation to the Holders in respect of
any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that,
as between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the obligations
guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes of this Note Guarantee, notwithstanding any
stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (2) in
the event of any declaration of acceleration of such obligations as provided in Article 6 hereof, such obligations (whether or
not due and payable) will forthwith become due and payable by the Guarantors for the purpose of this Note Guarantee. The Guarantors
will have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not impair the
rights of the Holders under the Note Guarantee.

 

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Section
10.02       Limitation
on Guarantor Liability.

 

Each
Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Note
Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent
Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Note Guarantee.
To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations
of such Guarantor will be limited to the maximum amount that will, after giving effect to such maximum amount and all other contingent
and fixed liabilities of such Guarantor that are relevant under such laws, and after giving effect to any collections from, rights
to receive contribution from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other
Guarantor under this Article 10, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent
transfer or conveyance.

 

Section
10.03       Execution
and Delivery of Note Guarantee.

 

To
evidence its Note Guarantee set forth in Section 10.01 hereof, each Guarantor hereby agrees that a notation of such Note Guarantee
substantially in the form attached as Exhibit B hereto will be endorsed by an Officer of such Guarantor on each Note authenticated
and delivered by the Trustee and that this Indenture will be executed on behalf of such Guarantor by one of its Officers.

 

Each
Guarantor hereby agrees that its Note Guarantee set forth in Section 10.01 hereof will remain in full force and effect notwithstanding
any failure to endorse on each Note a notation of such Note Guarantee.

 

If
an Officer whose signature is on this Indenture or on the Note Guarantee no longer holds that office at the time the Trustee authenticates
the Note on which a Note Guarantee is endorsed, the Note Guarantee will be valid nevertheless.

 

The
delivery of any Note by the Trustee, after the authentication thereof hereunder, will constitute due delivery of the Note Guarantee
set forth in this Indenture on behalf of the Guarantors.

 

In
the event that the Company or any of its Restricted Subsidiaries creates or acquires any Domestic Subsidiary after the date of
this Indenture, if required by Section 4.19 hereof, the Company will cause such Domestic Subsidiary to comply with the provisions
of Section 4.19 hereof and this Article 10, to the extent applicable.

 

Neither
the Company nor any Guarantor shall be required to make a notation on the Notes to reflect a Note Guarantee or any release, termination
or discharge thereof.

 

Section
10.04       Guarantors
May Consolidate, etc., on Certain Terms.

 

Except
as otherwise provided in Section 10.05 hereof, no Guarantor may sell or otherwise dispose of all or substantially all of its assets
to, or consolidate with or merge with or into (whether or not such Guarantor is the surviving Person) another Person, other than
(i) the Company or another Guarantor or (ii) an affiliate of the Company solely for the purpose of reincorporating or reorganizing
in the United States or any state thereof, unless:

 

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(1)
immediately after giving effect to such transaction, no Default or Event of Default exists; and

 

(2)
either:

 

(a)   
subject to Section 10.05 hereof, the Person acquiring the property in any such sale or disposition or the Person formed
by or surviving any such consolidation or merger (if other than such Guarantor) assumes all the obligations of that Guarantor under
this Indenture, its Note Guarantee on the terms set forth herein or therein, pursuant to a supplemental indenture in form and substance
reasonably satisfactory to the Trustee; or

 

(b)   
the Net Proceeds of such sale or other disposition are applied in accordance with the applicable provisions of this Indenture,
including without limitation, Section 4.10 hereof.

 

In
case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor Person, by supplemental indenture,
executed and delivered to the Trustee and reasonably satisfactory in form and substance to the Trustee, of the Note Guarantee endorsed
upon the Notes and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by
the Guarantor, such successor Person will succeed to and be substituted for the Guarantor with the same effect as if it had been
named herein as a Guarantor. Such successor Person thereupon may cause to be signed any or all of the Note Guarantees to be endorsed
upon all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee.
All the Note Guarantees so issued will in all respects have the same legal rank and benefit under this Indenture as the Note Guarantees
theretofore and thereafter issued in accordance with the terms of this Indenture as though all of such Note Guarantees had been
issued at the date of the execution hereof.

 

Except
as set forth in Articles 4 and 5 hereof, and notwithstanding clauses 2(a) and (b) above, nothing contained in this Indenture or
in any of the Notes will prevent any consolidation or merger of a Guarantor with or into the Company or another Guarantor, or will
prevent any sale or conveyance of the property of a Guarantor as an entirety or substantially as an entirety to the Company or
another Guarantor.

 

Section
10.05       Releases.

 

(a)   
In the event of any sale or other disposition of all or substantially all of the assets of any Guarantor, by way of merger,
consolidation or otherwise, to a Person that is not (either before or after giving effect to such transaction) the Company or a
Restricted Subsidiary of the Company, then the Person acquiring the property will be automatically released and relieved of any
obligations under the Note Guarantee;

 

(b)   
In the event of any sale or other disposition of all of the Capital Stock of any Guarantor to a Person that is not (either
before or after giving effect to such transaction) the Company or a Restricted Subsidiary of the Company and such Guarantor ceases
to be a Restricted Subsidiary of the Company as a result of the sale or other disposition, then such Guarantor will be automatically
released and relieved of any obligations under its Note Guarantee;

 

provided,
in both cases, that the Net Proceeds of such sale or other disposition are applied in accordance with the applicable provisions
of this Indenture, including without limitation Section 4.10 hereof. Upon delivery by the Company to the Trustee of an Officers’
Certificate and an Opinion of Counsel to the effect that such sale or other disposition was made by the Company in accordance with
the provisions of this Indenture, including without limitation Section 4.10 hereof, the Trustee will execute any documents reasonably
required in order to evidence the release of any Guarantor from its obligations under its Note Guarantee.

 

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(c)   
Upon designation of any Restricted Subsidiary that is a Guarantor as an Unrestricted Subsidiary in accordance with the terms
of this Indenture, such Guarantor will be released and relieved of any obligations under its Note Guarantee.

 

(d)   
Upon Legal Defeasance or Covenant Defeasance in accordance with Article 8 hereof or satisfaction and discharge of this Indenture
in accordance with Article 11 hereof, each Guarantor will be automatically released and relieved of any obligations under its Note
Guarantee.

 

(e)   
If such Guarantor no longer constitutes a Domestic Subsidiary, such Guarantor will be automatically released and relieved
of any obligations under its Note Guarantee.

 

(f)   
If determined in good faith by the Company that a liquidiation, dissolution or merger out of existence of such Guarantor is in
the best interests of the Company and is not materially disadvantageous to the holders, such Guarantor will be automatically
released and relieved of any obligations under its Note Guarantee.

 

Any
Guarantor not released from its obligations under its Note Guarantee as provided in this Section 10.05 will remain liable for the
full amount of principal of, premium on, if any, and interest, if any, on, the Notes and for the other obligations of any Guarantor
under this Indenture as provided in this Article 10.

 

ARTICLE
11

satisfaction and discharge

 

Section
11.01       Satisfaction
and Discharge.

 

This
Indenture will be discharged and will cease to be of further effect as to all Notes issued hereunder, when:

 

(1)
either:

 

(a)   
all Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes
for whose payment money has been deposited in trust and thereafter repaid to the Company, have been delivered to the Trustee for
cancellation; or

 

(b)   
all Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the mailing
of a notice of redemption or otherwise or will become due and payable within one year and the Company or any Guarantor has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S.
dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient, without consideration
of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered to the Trustee for cancellation
for principal, premium, if any, and interest, if any, to the date of maturity or redemption;

 

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(2)
in respect of subclause (b) of clause (1) of this Section 11.01, no Default or Event of Default has occurred and is continuing
on the date of the deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such
deposit and any similar deposit relating to other Indebtedness and, in each case, the granting of Liens to secure such borrowings)
and the deposit will not result in a breach or violation of, or constitute a default under, any other material instrument to which
the Company or any Guarantor is a party or by which the Company or any Guarantor is bound (other than with respect to the borrowing
of funds to be applied concurrently to make the deposit required to effect such satisfaction and discharge and any similar concurrent
deposit relating to other Indebtedness, and in each case the granting of Liens to secure such borrowings);

 

(3)
the Company or any Guarantor has paid or caused to be paid all sums payable by it under this Indenture; and

 

(4)
the Company has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the
payment of the Notes at maturity or on the redemption date, as the case may be.

 

In addition,
the Company must deliver an Officers’ Certificate and an Opinion of Counsel (subject to customary assumptions and exceptions)
to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied.

 

Notwithstanding
the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to subclause (b) of clause
(1) of this Section 11.01, the provisions of Sections 11.02 and 8.06 hereof will survive. In addition, nothing in this Section
11.01 will be deemed to discharge those provisions of Section 7.07 hereof, that, by their terms, survive the satisfaction and discharge
of this Indenture.

 

Upon
satisfaction of the conditions set forth herein and upon written request of the Company, the Trustee shall acknowledge in writing
the satisfaction and discharge of this Indenture.

 

Section
11.02       Application
of Trust Money.

 

Subject
to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 11.01 hereof shall be held in
trust and applied by it, in accordance with the provisions of the Notes 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, premium, if any, and interest, if any, for whose payment such money has been deposited with the Trustee;
but such money need not be segregated from other funds except to the extent required by law.

 

If
the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with Section 11.01 hereof by reason
of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or
otherwise prohibiting such application, the Company’s and any Guarantor’s obligations under this Indenture and the
Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.01 hereof; provided that
if the Company has made any payment of principal of, premium on, if any, or interest, if any, on, any Notes because of the reinstatement
of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the
money or Government Securities held by the Trustee or Paying Agent.

 

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Notwithstanding
anything in this Article 11 to the contrary, the Trustee will deliver or pay to the Company from time to time upon the request
of the Company any money or non-callable Government Securities held by it as provided in Section 11.01 hereof which, in the opinion
of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the
Trustee, are in excess of the amount thereof that would then be required to be deposited to effect a discharge in accordance with
this Article 11.

 

ARTICLE
12

MISCELLANEOUS

 

Section
12.01       Trust
Indenture Act Controls.

 

If
any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA §318(c), the imposed duties
will control.

 

Section
12.02       Notices.

 

Any
notice or communication by the Company, any Guarantor or the Trustee to the others is duly given if in writing and delivered in
Person or by first class mail (registered or certified, return receipt requested), facsimile transmission or overnight air courier
guaranteeing next day delivery, to the others’ address:

 

If
to the Company and/or any Guarantor:

B&G Foods, Inc.

Four Gatehall Drive, Suite 110

Parsippany, NJ 07054

Facsimile No.: (973) 401-6550

Attention: Executive Vice President of Finance and Chief Financial Officer

 

With a copy to:

Dechert LLP

Cira Centre

2929Arch Street

Philadelphia, PA 19104

Facsimile No.: (215) 994-2222

Attention: Sarah B. Gelb, Esq.

          Michael Darby, Esq.

 

If to the Trustee:

The Bank of New York Mellon Trust Company, N.A.

500 Ross Street, 12th Floor

Pittsburgh, PA 15262

Facsimile No.: (412) 234-7535

Attention: Corporate Trust Administration

 

The
Company, any Guarantor or the Trustee, by notice to the others, may designate additional or different addresses for subsequent
notices or communications.

 

All
notices and communications (other than those sent to Holders) will be deemed to have been duly given: at the time delivered by
hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged,
if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing
next day delivery.

 

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Any
notice or communication to a Holder will be delivered electronically or mailed by first class mail, certified or registered, return
receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown on the register kept by the
Registrar. Any notice or communication will also be so mailed to any Person described in TIA § 313(c), to the extent
required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it will not affect its sufficiency
with respect to other Holders.

 

The
Trustee shall have the right to accept and act upon instructions, including funds transfer instructions (“Instructions”)
given pursuant to this Indenture and delivered using Electronic Means; provided, however, that the Company shall
provide to the Trustee an incumbency certificate listing officers with the authority to provide such Instructions (“Authorized
Officers”) and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended
by the Company whenever a person is to be added or deleted from the listing. If the Company elects to give the Trustee Instructions
using Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the Trustee’s understanding
of such Instructions shall be deemed controlling. The Company understands and agrees that the Trustee cannot determine the identity
of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have
been sent by an Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized
Officer. The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee
and that the Company and all Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable
user and authorization codes, passwords and/or authentication keys upon receipt by the Company. The Trustee shall not be liable
for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such
Instructions notwithstanding such directions conflict or are inconsistent with a subsequent written instruction. The Company agrees:
(i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation
the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties; (ii) that
it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee
and that there may be more secure methods of transmitting Instructions than the method(s) selected by the Company; (iii) that the
security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable
degree of protection in light of its particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning
of any compromise or unauthorized use of the security procedures.

 

Notwithstanding
any other provision of this Indenture or any Note, where this Indenture or any Note provides for notice of any event (including
any notice of redemption or repurchase) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently
given if given to DTC (or its designee) pursuant to the standing instructions from DTC or its designee, including by electronic
mail in accordance with accepted practices at DTC.

 

If
a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the
addressee receives it.

 

If
the Company mails a notice or communication to Holders, it will mail a copy to the Trustee and each Agent at the same time.

 

    78

     

    

 

Section
12.03       Communication
by Holders of Notes with Other Holders of Notes.

 

Holders
may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the
Notes. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c).

 

Section
12.04       Certificate
and Opinion as to Conditions Precedent.

 

Upon
any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to
the Trustee:

 

(1)
an Officers’ Certificate (which must include the statements set forth in Section 12.05 hereof) stating that, in the opinion
of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action
have been complied with; and

 

(2)
an Opinion of Counsel (which must include the statements set forth in Section 12.05 hereof) stating that, in the opinion of such
counsel, all such conditions precedent and covenants have been complied with,

 

provided
that an issuer of an Opinion of Counsel may rely as to matter of fact on an Officers’ Certificate or a certificate of a public
official.

 

Section
12.05       Statements
Required in Certificate or Opinion.

 

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

 

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

 

(2)
a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based;

 

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

 

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

 

Section
12.06       Rules
by Trustee and Agents.

 

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

 

Section
12.07       No
Personal Liability of Directors, Officers, Employees, Affiliates and Stockholders.

 

No
past, present or future director, officer, employee, direct or indirect incorporator, Affiliate, stockholder or controlling Person,
of the Company or any Guarantor, as such, or any successor entity, will have any liability for any obligations of the Company or
the Guarantors under the Notes, this Indenture, the Note Guarantees or for any claim based on, in respect of, or by reason of,
such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under
the federal securities laws.

 

    79

     

    

 

Section
12.08       Governing
Law.

 

THE
INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES AND THE NOTE GUARANTEES WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY.

 

Section
12.09       No
Adverse Interpretation of Other Agreements.

 

This
Indenture may not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any
other Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture.

 

Section
12.10       Successors.

 

All
agreements of the Company in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture
will bind its successors. All agreements of each Guarantor in this Indenture will bind its successors, except as otherwise provided
in Section 10.05 hereof.

 

Section
12.11       Severability.

 

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

 

Section
12.12       Counterpart
Originals.

 

The
parties may sign any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent
the same agreement. Delivery of an executed counterpart of a signature page to this Indenture by facsimile, .pdf attachment,
email or other electronic means shall be effective as delivery of a manually executed counterpart of this Indenture.

 

Section
12.13       Table
of Contents, Headings, etc.

 

The
Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for convenience
of reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or
provisions hereof.

 

Section
12.14       Waiver
of Jury Trial.

 

EACH
OF THE COMPANY, THE GUARANTORS, THE HOLDERS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE
TRANSACTION CONTEMPLATED HEREBY.

 

    80

     

    

 

Section
12.15       Force
Majeure.

 

In
no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising
out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions,
loss or malfunctions of utilities, communications or computer (software or hardware) services; it being understood that the Trustee
shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon
as practicable under the circumstances.

 

Section
12.16       Consent to Jurisdiction.

 

Any
legal suit, action or proceeding arising out of or based upon this Indenture or the transactions contemplated hereby may be instituted
in the federal courts of the United States of America located in the City of New York or the courts of the State of New York in
each case located in the City of New York (collectively, the “Specified Courts”), and each party irrevocably
submits to the non-exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of any process, summons,
notice or document by mail (to the extent allowed under any applicable statute or rule of court) to such party’s address
set forth in Section 12.02 hereof shall be effective service of process for any suit, action or other proceeding brought in any
such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other
proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim any such suit, action
or other proceeding has been brought in an inconvenient forum.

 

Section
12.17      Foreign
Account Tax Compliance Act (FATCA) 

 

Upon
reasonable request of the Trustee, the Company agrees (i) to provide the Trustee with such reasonable information as it has in
its possession to enable the Trustee to determine whether any payments pursuant to the Indenture are subject to the withholding
requirements described in Section 1471(b) of the Code or otherwise imposed pursuant to Sections 1471 through 1474 of the Code and
any regulations, or agreements thereunder or official interpretations thereof (“Applicable Law”); provided
that, the obligations imposed on the Company under this paragraph are limited to the extent that the provision of such information
to the Trustee will not result in any breach of this Indenture, the Notes or any applicable law, and (ii) that the Trustee shall
be entitled to make any withholding or deduction from payments under this Indenture to the extent necessary to comply with Applicable
Law.

 

[Signatures
on following page]

 

    81

     

    

 

SIGNATURES

 

	Dated as of September 26, 2019	 	 
	 	 	 
	 	B&G FOODS, INC.
	 	 	 
	 	 	 
	 	By:	 /s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer

 

 

	 	B&G FOODS NORTH AMERICA, INC.,
	 	as Guarantor
	 	 
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer
	 	 	 
	 	 	 
	 	B&G FOODS SNACKS, INC.,
	 	as Guarantor
	 	 
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer
	 	 	 
	 	 	 
	 	BACK TO NATURE FOODS COMPANY, LLC,
	 	as Guarantor
	 	 
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer

 

[Signature
Page to Tenth Supplemental Indenture]

 

     

     

    

 

 

	 	BACK TO NATURE FOODS SERVCO, LLC,
	 	as Guarantor
	 	 
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer

 

 

	 	BEAR CREEK COUNTRY KITCHENS, LLC,
	 	as Guarantor
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer
	 	 	 
	 	 	 
	 	BTN FOODS SERVCO CORPORATION,
	 	as Guarantor
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer
	 	 	 
	 	 	 
	 	BTN HOLDCO, INC.,
	 	as Guarantor
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer
	 	 
	 	 
	 	CLABBER GIRL CORPORATION,
	 	as Guarantor
	 	 
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer

 

[Signature
Page to Tenth Supplemental Indenture]

 

     

     

    

 

	 	SPARTAN FOODS OF AMERICA, INC.,
	 	as Guarantor
	 	 
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer
	 	 	 
	 	 	 
	 	VICTORIA FINE FOODS, LLC,
	 	as Guarantor
	 	 
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer
	 	 	 
	 	 	 
	 	WILLIAM UNDERWOOD COMPANY,
	 	as Guarantor
	 	 
	 	 
	 	By:	/s/ Bruce C. Wacha
	 	 	Name:   Bruce C. Wacha
	 	 	Title:     Executive Vice President of Finance and Chief Financial Officer

 

[Signature
Page to Tenth Supplemental Indenture]

 

     

     

    

 

	 	The Bank of New York Mellon Trust Company, N.A.,
	 	as Trustee
	 	 
	 	 
	 	By:	/s/
    Karen Yu
	 	 	Name:   Karen Yu
	 	 	Title:     Vice President

 

[Signature
Page to Tenth Supplemental Indenture]

 

     

     

    

 

EXHIBIT A

 

FORM OF NOTE

 

[Face of Note]

 

CUSIP/ISIN
____________

 

5.25% Senior
Notes due 2027

 

	No.____	 	$____________

 

B&G FOODS,
INC., a Delaware corporation, promises to pay to               
Cede & Co., or registered assigns, the principal sum of ______________________________________________________ DOLLARS on ______________.

 

Interest
Payment Dates: March 15 and September 15

 

Record Dates:
March 1 and September 1

 

Dated:

 

	 	B&G FOODS, INC.
	 	 
	 	 
	 	By:  	 
	 	 	Name:
	 	 	Title:

 

	This is one of the Notes referred to	 
	in the within-mentioned Indenture:	 
	 	 	 
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,	 
	as Trustee	 
	 	 	 
	By:  	 	 
	 	Authorized Signatory	 

 

    A-1

     

    

 

[Back of
Note]

5.25% Senior
Notes due 2027

 

THIS GLOBAL
NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH
NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT
NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION
PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR
WRITTEN CONSENT OF B&G FOODS, INC.

 

UNLESS AND
UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY
OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”),
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.

 

Capitalized
terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 

(1)
Interest. B&G Foods, Inc., a Delaware corporation (the “Company”),
promises to pay interest on the principal amount of this Note at 5.25% per annum from ______________ until maturity. The Company
will pay interest, if any, semi-annually in arrears on March 15 and September 15 of each year, or if any such day is not a Business
Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue
from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided
that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred
to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment
Date; provided further that the first Interest Payment Date shall be March 15, 2020. The Company will pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time
on demand at a rate that is 1% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable
grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day
year of twelve 30-day months.

 

    	 	A-2	 

     

    

 

(2)
Method of Payment. The Company will pay interest on the Notes (except defaulted
interest) to the Persons who are registered Holders of Notes at the close of business on the March 1 or September 1 next preceding
the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date,
except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal,
premium, if any, and interest, if any, at the office or agency of the Paying Agent and Registrar within or without the City and
State of New York, or, at the option of the Company, payment of interest, if any, may be made by check mailed to the Holders at
their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds
will be required with respect to principal of, premium on, if any, interest, if any, on, all Global Notes and all other Notes the
Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in such
coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.

 

(3)
Paying Agent and Registrar. Initially, The Bank of New York Mellon Trust Company,
N.A., the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change the Paying Agent or Registrar
without prior notice to the Holders of the Notes. The Company or any of its Subsidiaries may act as Paying Agent or Registrar.

 

(4)
Indenture. The Company issued the Notes under a tenth supplemental indenture
dated as of September 26, 2019 (the “Indenture”) among the Company, the Guarantors and the Trustee. The terms
of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the TIA. The Notes are
subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms. To the extent any
provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and
be controlling. The Notes are unsecured obligations of the Company. The Indenture does not limit the aggregate principal amount
of Notes that may be issued thereunder.

 

(5)
Optional Redemption.

 

(a)   
At any time prior to March 1, 2022, the Company may on any one or more occasions redeem up to 40% of the aggregate principal
amount of Notes issued under this Indenture (including Additional Notes, if any), upon not less than 30 nor more than 60 days’
notice at a redemption price equal to 105.25% of the principal amount, plus accrued and unpaid interest, if any, to the redemption
date, (subject to the rights of Holders of Notes on the relevant record date to receive interest on the relevant interest payment
date) with the net cash proceeds of one or more Equity Offerings of the Company; provided that:

 

(i)                
at least 50% of the aggregate principal amount of Notes originally issued under the Indenture (excluding Notes held
by the Company and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and

 

(ii)             
the redemption occurs within 90 days of the date of the closing of such Equity Offering.

 

(b)   
At any time prior to March 1, 2022, may on any one or more occasions redeem all or a part of the Notes, upon not less than
30 nor more than 60 days’ notice, at a redemption price equal to 100% of the principal amount of the Notes redeemed,
plus the Applicable Premium as of, and accrued and unpaid interest, if any, to the date of redemption, subject to the rights of
holders of notes on the relevant record date to receive interest due on the relevant interest payment date.

 

    	 	A-3	 

     

    

 

(c)   
Except pursuant to the preceding paragraphs, the Notes will not be redeemable at the Company’s option prior to March
1, 2022.

 

(d)   
On or after March 1, 2022, the Company may on any one or more occasions redeem all or a part of the Notes, upon not less
than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth
below plus accrued and unpaid interest on the Notes redeemed, to the applicable redemption date, if redeemed during the twelve-month
period beginning on March 1 of the years indicated below, subject to the rights of Holders of Notes on the relevant record date
to receive interest on the relevant interest payment date:

 

	Year	 	Percentage	 
	2022	 	 	103.938	%
	2023	 	 	102.625	%
	2024	 	 	101.313	%
	2025 and thereafter	 	 	100.0000	%

 

Unless
the Company defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called
for redemption on the applicable redemption date.

 

(6)
Mandatory Redemption. The Company is not required to make mandatory
redemption or sinking fund payments with respect to the Notes.

 

(7)
Repurchase at the Option of Holder.

 

(a)   
If there is a Change of Control, the Company will be required to make an offer (a “Change of Control Offer”)
to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of each Holder’s
Notes at a purchase price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest thereon
to the date of purchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest
payment date (the “Change of Control Payment”). Within 30 days following any Change of Control, the Company
will mail a notice to each Holder setting forth the procedures governing the Change of Control Offer as required by the Indenture.

 

(b)   
If the Company or a Restricted Subsidiary of the Company consummates any Asset Sales, within 30 days of each date on which
the aggregate amount of Excess Proceeds exceeds $25.0 million, the Company will commence an offer to all Holders of Notes and all
holders of other Indebtedness that is pari passu with the Notes containing provisions similar to those set forth in the
Indenture with respect to offers to purchase, prepay or redeem with the proceeds of sales of assets in accordance with the Indenture
to purchase, prepay or redeem the maximum principal amount of Notes and such other pari passu Indebtedness (plus all accrued
interest on the Indebtedness and the amount of all fees and expenses, including premiums, incurred in connection therewith) that
may be purchased, prepaid or redeemed out of the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to 100%
of the principal amount plus accrued and unpaid interest, if any, to the date of purchase, prepayment or redemption, subject to
the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest payment date, and will
be payable in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Company may use those Excess Proceeds
for any purpose not otherwise prohibited by the Indenture. If the aggregate principal amount of Notes and other pari passu
Indebtedness tendered into (or required to be prepaid or redeemed in connection with) such Asset Sale Offer exceeds the amount
of Excess Proceeds, the Trustee will select the Notes and such other pari passu Indebtedness to be purchased on a pro
rata basis, based on the amounts tendered or required to be prepaid or redeemed. Upon completion of each Asset Sale Offer,
the amount of Excess Proceeds will be reset at zero. Holders of Notes that are the subject of an offer to purchase will receive
an Asset Sale Offer from the Company prior to any related purchase date and may elect to have such Notes purchased by completing
the form entitled “Option of Holder to Elect Purchase” attached to the Notes.

 

    	 	A-4	 

     

    

 

(8)
Notice of Redemption. At least 30 days but not more than 60 days before a
redemption date, the Company will mail or cause to be mailed, by first class mail, a notice of redemption to each Holder whose
Notes are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption
date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of the Indenture pursuant
to Articles 8 or 11 thereof. Any redemption or notice of any redemption may, at the Company’s discretion, be subject to one
or more conditions precedent, including, but not limited to, completion of an Equity Offering, other offering or other corporate
transaction or event. Notes and portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in excess
thereof; except that if all of the Notes of a Holder are to be redeemed or purchased, the entire outstanding amount of Notes held
by such Holder shall be redeemed or purchased.

 

(9)
Denominations, Transfer, Exchange. The Notes are in registered form in denominations
of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged
as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements
and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture.
The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the
unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any Notes
for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the next succeeding
Interest Payment Date.

 

(10)
Persons Deemed Owners. The registered Holder of a Note may be treated as the
owner of it for all purposes. Only registered Holders have rights under the Indenture.

 

(11)
Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture
or the Notes or the Note Guarantees may be amended or supplemented with the consent of the Holders of at least a majority in aggregate
principal amount of the then outstanding Notes including Additional Notes, if any, voting as a single class, and any existing Default
or Event of Default or compliance with any provision of the Indenture or the Notes or the Note Guarantees may be waived with the
consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes including Additional Notes, if
any, voting as a single class. Without the consent of any Holder of Notes, the Indenture, the Notes or the Note Guarantees may
be amended or supplemented to cure any ambiguity, omission, defect or inconsistency, to provide for uncertificated Notes in addition
to or in place of certificated Notes, to provide for the assumption of the Company’s or a Guarantor’s obligations to
Holders of the Notes and Note Guarantees pursuant to the Indenture, to make any change that would provide any additional rights
or benefits to the Holders of the Notes or that does not adversely affect the legal rights under the Indenture of any Holder, to
comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA, to conform
the text of the Indenture, the Note Guarantees or the Notes to any provision of the “Description of Notes” section
of the Company’s prospectus supplement dated September 12, 2019, relating to the initial offering of the Notes, to the extent
that such provision in that “Description of Notes” was intended to be a verbatim recitation of a provision of the Indenture,
the Note Guarantees or the Notes, which intent may be evidenced by an Officers’ Certificate to that effect; to provide for
the issuance of Additional Notes in accordance with the limitations set forth in the Indenture; to comply with the procedures of
DTC or the Trustee with respect to the provisions of the Indenture and the Notes relating to transfers and exchanges of Notes or
beneficial interests in the Notes; or to evidence the release of any Guarantor permitted to be released under the terms of the
Indenture or to allow any Guarantor to execute a supplemental indenture to the Indenture and/or a Note Guarantee with respect to
the Notes.

 

    	 	A-5	 

     

    

 

(12)
Defaults and Remedies. Events of Default include: (i) default for 30 consecutive
days in the payment when due of interest on the Notes; (ii) default in the payment when due (at maturity, upon redemption or otherwise)
of the principal of, or premium, if any, on, the Notes; (iii) failure by the Company or any of its Restricted Subsidiaries for
60 days after written notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the
Notes then outstanding voting as a single class to comply with any of the other agreements in the Indenture; (iv) default under
certain other agreements relating to Indebtedness of the Company which default results in the acceleration of such Indebtedness
prior to its express maturity; (v) certain final judgments for the payment of money that remain undischarged for a period of 60
days; (vi) except as permitted by the Indenture, any Note Guarantee is held in any judicial proceeding to be unenforceable or invalid
or ceases for any reason to be in full force and effect or any Guarantor or any Person acting on behalf of any Guarantor denies
or disaffirms its obligations under its Note Guarantee; and (vii) certain events of bankruptcy or insolvency with respect to the
Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken
together, would constitute a Significant Subsidiary. If any Event of Default occurs and is continuing, the Trustee or the Holders
of at least 25% in aggregate principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately.
Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all
outstanding Notes will become due and payable immediately without further action or notice. Holders may not enforce the Indenture
or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal
amount of the then outstanding Notes may direct the time, method and place of conducting any proceeding for exercising any remedy
available to the Trustee or exercising any trust or power conferred on it. The Trustee may withhold from Holders of the Notes notice
of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal, premium,
if any, interest, if any) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate
principal amount of the then outstanding Notes by notice to the Trustee may, on behalf of all the Holders, rescind an acceleration
or waive an existing Default or Event of Default and its respective consequences under the Indenture except a continuing Default
or Event of Default in the payment of principal of, premium on, if any, interest, if any, on, the Notes (including in connection
with an offer to purchase) unless such Default or Event of Default resulted from an acceleration. The Company is required to deliver
to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required, upon becoming aware of
any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default.

 

    	 	A-6	 

     

    

 

(13)  
Trustee Dealings with Company. The Trustee, in its individual or any
other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise
deal with the Company or its Affiliates, as if it were not the Trustee.

 

(14)  
No Recourse Against Others. No past, present or future director, officer,
employee, direct or indirect incorporator, Affiliate, stockholder or controlling Person, of the Company or any Guarantor, as such,
or any successor entity, will have any liability for any obligations of the Company or the Guarantors under the Notes, this Indenture,
the Note Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder
of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance
of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

 

(15)  
Authentication. This Note will not be valid until authenticated by
the manual signature of the Trustee or an authenticating agent.

 

(16)  
Abbreviations. Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with
right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

 

(17)  
CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee
on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the Trustee
may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such
numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other
identification numbers placed thereon.

 

(18)
GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE
USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF
LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

The
Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to:

 

B&G
Foods, Inc.

Four Gatehall
Drive, Suite 110

Parsippany,
NJ 07054

Attention:
Executive Vice President of Finance and Chief Financial Officer

 

    	 	A-7	 

     

    

 

Assignment
Form

 

To
assign this Note, fill in the form below:

 

	(I) or (we) assign and transfer this Note to:	 	 
	 	 	(Insert assignee’s legal name)

 

	 	 	 
	 
	(Insert assignee’s soc. sec. or tax I.D. no.)
	 	 	 
	 
	 	 	 
	 
	 	 	 
	 
	 	 	 
	 
	(Print or type assignee’s name, address and zip code)

 

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

 

	Date: _______________	 	 
	 	 	 
		 	Your Signature:_______________________________________________
		 	(Sign exactly as your name appears on the face of this Note)
	 	 	 
	Signature Guarantee*: _________________________	 	 

 

*       Participant
in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

 

    A-8

     

    

 

Option
of Holder to Elect Purchase

 

If
you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or 4.15 of the Indenture, check the appropriate
box below:

 

 ̈
Section 4.10                                        ̈ Section 4.15

 

If
you want to elect to have only part of the Note purchased by the Company pursuant to Section 4.10 or Section 4.15 of the Indenture,
state the amount you elect to have purchased:

 

	 	$	 	 

 

	Date:	 	 	 	 
	 	 	 	 	 
	 	 	Your Signature:	 
	 	 	(Sign exactly as your name appears on the face of this Note)
	 	 	 
	 	 	Tax Identification No.:	 

 

	Signature Guarantee*:	 	 

 

*       Participant
in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

 

    A-9

     

    

 

Schedule
of Exchanges of Interests in the Global Note

 

The
following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges
of a part of another Global Note or Definitive Note for an interest in this Global Note, have been made:

 

	Date of Exchange	 	Amount of decrease in
 Principal Amount 
 at maturity of 
 this Global Note	 	Amount of increase in
 Principal Amount 
 at maturity of 
 this Global Note	 	Principal Amount 
 at maturity of this 
 Global Note following 
 such decrease 
 (or increase)	 	Signature of authorized
 officer of Trustee or
 Custodian
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    A-10

     

    

 

EXHIBIT B

 

FORM OF NOTATION
OF GUARANTEE

 

For
value received, each Guarantor (which term includes any successor Person under the Indenture) has, jointly and severally, unconditionally
guaranteed, to the extent set forth in the Indenture and subject to the provisions in the tenth supplemental indenture dated as
of September 26, 2019 (the “Indenture”) among B&G Foods, Inc. (the “Company”), the Guarantors
party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), (a) the due and
punctual payment of the principal of, premium on, if any, and interest, if any, on, the Notes, whether at maturity, by acceleration,
redemption or otherwise, the due and punctual payment of interest on overdue principal of, premium on, if any, and interest, if
any, on, the Notes, if any, if lawful, and the due and punctual performance of all other obligations of the Company to the Holders
or the Trustee all in accordance with the terms of the Indenture and (b) in case of any extension of time of payment or renewal
of any Notes or any of such other obligations, that the same will be promptly paid in full when due or performed in accordance
with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. The obligations of the Guarantors
to the Holders of Notes and to the Trustee pursuant to the Note Guarantee and the Indenture are expressly set forth in Article
10 of the Indenture and reference is hereby made to the Indenture for the precise terms of the Note Guarantee.

 

Capitalized
terms used but not defined herein have the meanings given to them in the Indenture.

 

	 	[Name of Guarantor(s)]
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    B-1

     

    

 

EXHIBIT C

 

FORM OF SUPPLEMENTAL
INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS

 

Supplemental
Indenture (this “Supplemental Indenture”), dated as of ________________, 20___, among __________________
(the “Guaranteeing Subsidiary”), a subsidiary of B&G Foods, Inc. (or its permitted successor), a Delaware
corporation (the “Company”), the Company, the other Guarantors (as defined in the Indenture referred to herein)
and The Bank of New York Mellon Trust Company, N.A., as trustee under the Indenture referred to below (the “Trustee”).

 

W I T N E
S S E T H

 

WHEREAS,
the Company has heretofore executed and delivered to the Trustee a tenth supplemental indenture (the “Indenture”),
dated as of September 26, 2019 providing for the issuance of 5.25% Senior Notes due 2027 (the “Notes”);

 

WHEREAS,
the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s
Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”);
and

 

WHEREAS,
pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

 

NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the
Notes as follows:

 

1.       Capitalized
Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

2.       Agreement
to Guarantee. The Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to
the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article 10 thereof.

 

3.       No
Recourse Against Others. No past, present or future director, officer, employee, incorporator, Affiliate, stockholder, controlling
Person or agent of the Company or any Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors
under the Notes, any Note Guarantees, the Indenture or for any claim based on, in respect of, or by reason of, such obligations
or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are
part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities
laws.

 

4.       NEW
YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE
WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY.

 

    C-1

     

    

 

5.       Counterparts.
The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement.

 

6.       Effect
of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof.

 

7.       The
Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency
of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by
the Guaranteeing Subsidiary and the Company.

 

    C-2

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date
first above written.

 

Dated:
_______________, 20___

 

	 	[Guaranteeing Subsidiary]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	B&G FOODS, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	[Existing Guarantors]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	The Bank of New York Mellon Trust Company, N.A.,
	 	as Trustee
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    C-3Exhibit 10.16

 

 

 

[Certain identified information has been
excluded from the exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed]

 

April 25, 2019

POC 19-0017

 

Mr. Jeff DiRubio

 

Dear Jeff:

 

I am pleased to offer you the employee position of Vice President,
Sales & Marketing with Precision Optics Corporation. Acceptance of this offer will constitute termination of the Consulting
Agreement entered into between you and the Company on March 30, 2018, provided, however, that the $2,000 travel advance made in
accordance with Addendum 1 of the Consulting Agreement will be reimbursed by you to the Company or deducted from your last payroll
payment.

 

If you accept our offer, your effective start date as an employee
of the Company will be Wednesday, May 1, 2019. Your initial base salary as an exempt employee will be $168,000 per year, less applicable
deductions, payable in accordance with the regular payroll practices of the Company. Your position will report to the CEO of the
Company. You will also be granted a stock option to acquire one hundred thousand (100,000) shares of the Company’s common
stock. These options will have an exercise price equal to the closing price of the stock on the day the Board approves the award.
They will vest in three installments of 34,000, 33,000, and 33,000 on May 1, 2020, 2021 and 2022, respectively, and they will be
subject to the terms of the Company’s incentive stock option plan and final approval by the Company’s Board of Directors.

 

You will also be eligible to earn two bonus payments each fiscal
year beginning with the fiscal year ending June 30, 2020. These bonuses will be $50,000 for attainment of 100% of [___] and $25,000
for attainment of 100% of [___]. [___] and [___] will be set each year by the Company CEO. You will be eligible for a pro-rated
bonus on [___] that meet or exceed at least 80% of [___] and on [___] that meet or exceed at least 75% of [___]. Each of these
bonuses will be paid on a yearly basis, in the first regular payroll following the Company’s 10K filing. The Company may
make quarterly pre-payments against the expected yearly bonus, at the sole discretion of the CEO, after discussion with you. If
pre-payments are made in the first, second or third quarter, the nominal cumulative value will be calculated according to the percentage
of 1⁄4, 1⁄2, and 3⁄4, respectively, of the yearly targets, achieved by the end of each quarter, but any actual pre-payment
may be less than the nominal amount calculated. In order to limit the risk to you that the sum of pre-payments could exceed the
annual bonus, resulting in a required return payment by you to the Company, the Company CEO will consider [___] when deciding if
a pre-payment should be made. If a pre-payment is made, it will be paid in the first regular payroll following the Company’s
10Q filing for each quarter.

 

For the quarter ending June 30, 2019, you will be eligible to
earn a bonus of $12,500 for attainment of [___], with a pro-rated bonus paid for [___] of this target. You will also be eligible
for a bonus of $2,500 if the Company achieves a [___] for this quarter. Both of these bonuses will be based solely on [___] for
the Company’s Garner, MA operation.

 

 

 

 

    	 	1	 

     

    

 

During your employment, you will be eligible
to participate in all benefit plans made available by the Company from time to time to employees generally, subject to plan terms
and generally applicable Company policies.

 

Precision Optics Corporation currently
provides the following benefits to full-time employees: [___]

 

The Company is committed to providing a
drug-free workplace and has established a drug-free workplace policy. All employees are required to strictly abide by this policy
as a condition of employment.

 

You will be expected to devote your full
business time and efforts to the performance of your duties and responsibilities for the Company, and to abide by all Company policies
and procedures, as in effect from time to time. You will fulfill the duties of the Vice President, Sales & Marketing, position
by working remotely and by working on-site at the Company on average one day per week, plus additionally as and when required by
the position.

 

You will be considered by the Company to
be an “insider” for purposes of Section 16 of the Securities and Exchange Act of 1934 and required to file with the
SEC a Form 3 upon the effective date of this agreement reflecting your beneficial ownership in POC stock, and a Form 4 for any
transaction that represents a change in your ownership thereafter. The Company’s legal counsel will assist you with those
filings.

 

As a condition of your employment, you
will remain obligated to the terms and conditions of the Company's standard "Employee Proprietary Information Agreement"
which you agree to or already have executed.

 

Please note that this offer letter and
your response are not meant to constitute a contract of employment for a specific term. This means that, if you accept this offer,
you will retain the right to terminate your employment at any time and that the Company will retain a similar right. We do ask,
however, that you give three (3) months' written notice if you decide to resign. The Company will give you comparable three (3)
months’ notice, or payment in lieu of notice, if it terminates your employment. In addition, if your position with the Company
is involuntarily terminated within six (6) months of a “Change in Ownership” for a reason other than “Cause”,
the Company will pay you six (6) months of pay at your then current annual salary rate.

 

 

 

 

    	 	2	 

     

    

 

The offer of employment described in this
letter shall terminate at the end of the day on Monday, April 29, 2019. By signing below to accept this offer of employment, you
give us assurance that you have not relied on any agreements or representations, express or implied, with respect to your employment
that is not set forth expressly in this letter.

 

Jeff, formalities aside, I look forward
to the transition of your VP, Sales & Marketing role to an employee position at POC.

 

 

	 	Very truly yours,
	 	 
	 	/s/ Joseph N. Forkey               
	 	Joseph N. Forkey
	 	Chief Executive Officer

 

 

 

Acceptance

 

I, Jeff DiRubio, hereby accept the offer
of employment as herein stated.

 

 

	 	        /s/ Jeff DiRubio                       
	 	Signature
	 	 
	 	       4-26-2019                                  
	 	Date

 

 

 

    	 	3

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