Document:

exv4w2

Exhibit 4.2

LORILLARD TOBACCO COMPANY,

as Issuer

LORILLARD, INC.,

as Guarantor

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

Trustee

THIRD SUPPLEMENTAL INDENTURE

Dated August 4, 2011

 

3.500% Senior Notes due 2016

7.000% Senior Notes due 2041

 

Supplemental to Indenture dated June 23, 2009

 

 

     THIS THIRD SUPPLEMENTAL INDENTURE (the “Third Supplemental Indenture”) is made the 4th
day of August, 2011, among LORILLARD TOBACCO COMPANY, a corporation duly incorporated and existing
under the laws of Delaware and having its principal executive office at 714 Green Valley Road,
Greensboro, North Carolina 27408 (the “Company”), LORILLARD, INC., a corporation duly
incorporated and existing under the laws of Delaware and having its principal executive office at
714 Green Valley Road, Greensboro, North Carolina 27408 (the “Guarantor”) and THE BANK OF
NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, as Trustee (the
“Trustee”).

RECITALS OF THE COMPANY

     WHEREAS, the Company entered into an Indenture, dated June 23, 2009 with the Trustee (the
“Original Indenture,” and together with this Third Supplemental Indenture, referred to
herein as the “Indenture”) (all capitalized terms used in this Third Supplemental Indenture
and not otherwise defined herein have the meanings assigned to such terms in the Original
Indenture), for the purposes of issuing its Securities, evidencing its senior unsecured
indebtedness, unlimited as to principal amount, to bear such rates of interest, to mature at such
time or times, to be issued in one or more series and to have such other provisions as authorized
by or pursuant to the authority granted in one or more resolutions of the Board of Directors of the
Company; and

     WHEREAS, Section 901 of the Original Indenture provides that without the consent of the
Holders of the Securities of any series issued under the Original Indenture, the Company, when
authorized by a Board Resolution, and the Trustee may, in certain circumstances, enter into one or
more indentures supplemental to the Original Indenture; and

     WHEREAS, the Company proposes to issue (i) a series of Securities designated as its 3.500%
Senior Notes due 2016 (the “2016 Senior Notes”), the terms of which shall be set forth in and in
the form of Exhibit A-1 and (ii) a series of Securities designated as its 7.000% Senior
Notes due 2041 (the “2041 Senior Notes”) the terms of which shall be set forth in and in
the form of Exhibit A-2 hereto, or determined in the manner provided in an Officers’
Certificate of the Company as provided in Section 301 of the Original Indenture (such 2016 Senior
Notes and 2041 Senior Notes, collectively being referred to herein as the “Notes” and all
references to Securities in the Original Indenture shall be deemed to refer also to the Notes
unless the context otherwise provides) which such 2016 Senior Notes shall be guaranteed by the
Guarantor (the “2016 Senior Notes Guarantee”) in the form of Exhibit B-1 hereto and
which such 2041 Senior Notes shall be guaranteed by the Guarantor (the “2041 Senior Notes
Guarantee” and together with the 2016 Senior Notes Guarantee, the “Guarantees”) in the
form of Exhibit B-2 hereto; and

     WHEREAS, the entry into this Third Supplemental Indenture by the parties hereto is in all
respects authorized by the provisions of the Original Indenture; and

     WHEREAS, all conditions necessary to authorize the execution and delivery of this Third
Supplemental Indenture and to make it a valid and binding obligation of the Company have been done
or performed; and

     NOW, THEREFORE, THIS THIRD SUPPLEMENTAL INDENTURE WITNESSETH:

     For and in consideration of the premises and the purchase of the Notes by the Holders thereof,
it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the
Notes, as follows:

     Section 1. The Original Indenture is hereby amended solely with respect to the Notes
as follows:

 

 

     (A) Definitions. By amending Section 101 to insert the following definitions in their
entirety in the appropriate alphabetical order as follows:

“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 more series of related
transactions, of all or substantially all of the Company’s assets and the assets of
its Subsidiaries, taken as a whole, to any “person,” other than to Lorillard, Inc.
or one of its Subsidiaries;

(2) the consummation of any transaction (including, without limitation, any merger
or consolidation) the result of which is that any person becomes the beneficial
owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or
indirectly, of more than 50% of the Company’s outstanding Voting Stock or other
Voting Stock into which the Company’s Voting Stock is reclassified, consolidated,
exchanged or changed, measured by voting power rather than the number of shares;

(3) the Company consolidates with, or merges with or into, any person, or any person
consolidates with, or merges with or into, the Company, in any such event pursuant
to a transaction in which any of the Company’s outstanding Voting Stock is converted
into or exchanged for cash, securities or other property, other than any such
transaction where the shares of the Company’s Voting Stock outstanding immediately
prior to such transaction constitute, or are converted into or exchanged for, a
majority of the Voting Stock of the surviving person or any direct or indirect
parent company of the surviving person immediately after giving effect to such
transaction;

(4) the first day on which a majority of the members of the Company’s Board of
Directors are not Continuing Directors; or

(5) the adoption of a plan relating to the Company’s liquidation or dissolution
(other than the Company’s liquidation into a newly formed holding company).

Notwithstanding the foregoing, a transaction will not be deemed to involve a Change
of Control if (i) the Company becomes a direct or indirect wholly-owned subsidiary
of a holding company and (ii) (A) the direct or indirect holders of the Voting Stock
of such holding company immediately following that transaction are substantially the
same as the holders of the Company’s Voting Stock immediately prior to that
transaction or (B) immediately following that transaction no person (other than a
holding company) is the beneficial owner, directly or indirectly, of more than 50%
of the Voting Stock of such holding company.

“Change of Control Triggering Event” means the occurrence of both (1) a Change of
Control and (2) a Ratings Event.

“Continuing Directors” means, as of any date of determination, any member of the
Company’s Board of Directors who (1) was a member of such Board of Directors on the
Issue Date of the Notes or (2) was nominated for election, elected or appointed to
such Board of Directors with the approval of a majority of the Continuing Directors
who were members of such Board of Directors at the time of such nomination, election
or appointment (either by a specific vote or by approval of the Company’s proxy
statement in which such

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member was named a nominee for election as a director, without objection to such
nomination).

“Investment Grade” means a rating equal to or higher than Baa3 (or the equivalent)
by Moody’s; a rating equal to or higher than BBB- (or the equivalent) by S&P; and
the equivalent investment grade credit rating from any Substitute Rating Agency or
Rating Agencies selected by the Company.

“Issue Date” means August 4, 2011.

“Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s
Corporation, and its successors.

“person” has the meaning given thereto in Section 13(d)(3) of the Exchange Act.

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if Moody’s or S&P
ceases to rate the Notes or fails to make a rating of the Notes publicly available
for reasons outside of the Company’s control, a Substitute Rating Agency.

“Ratings Event” means the Notes cease to be rated Investment Grade by each of the
Rating Agencies on any day within the 60-day period (which 60-day period will be
extended so long as the rating of the Notes is under publicly announced
consideration for a possible downgrade by any of the Rating Agencies) after the
earlier of (1) the occurrence of a Change of Control and (2) public notice of the
occurrence of a Change of Control or the Company’s intention to effect a Change of
Control.

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc., and its successors.

“Substitute Rating Agency” means a “nationally recognized statistical rating
organization” registered under Section 15E of the Exchange Act for the classes of
credit ratings described in clauses (i) through (v) of Section 3(a)(62)(B) of the
Exchange Act selected by us (as certified by our Chief Executive Officer, Chief
Financial Officer or Treasurer) as a replacement agency for Moody’s or S&P, or both
of them, as the case may be.

“Voting Stock” means, with respect to any specified “person” (as that term is used
in Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such
person that is at the time entitled to vote generally in the election of the board
of directors of such person.

     (B) Events of Default. By replacing Sections 501 and 502 of the Original Indenture as
follows:

SECTION 501 Events of Default.

     “Event of Default” wherever used herein with respect to the Notes means any one
of the following events and such other events as may be established with respect to
the Notes as contemplated by Section 301 (whatever the reason for such Event of
Default and whether it shall be voluntary or involuntary or be effected by operation
of law pursuant to any judgment, decree or order of any court or any order, rule or
regulation of any administrative or governmental body):

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     (1) default in the payment of any installment of interest on the Notes
when it becomes due and payable, and continuance of such default for a
period of 30 days; or

     (2) default in the payment of principal of, or premium, if any, on the
Notes at Maturity; or

     (3) default in the performance of, or breach of, any covenant or
warranty of the Company in respect of the Notes contained in the Indenture,
in this Third Supplemental Indenture or in the Notes (other than a covenant
or warranty a default in whose performance or whose breach is elsewhere in
this Section specifically dealt with) and continuance of such default or
breach for a period of 90 days after there has been given, by registered or
certified mail, to the Company by the Trustee for the Notes or to the
Company and such Trustee by the Holders of at least 25% in principal amount
of the Notes, a written notice specifying such default or breach and
requiring it to be remedied and stating that such notice is a “Notice of
Default” hereunder; or

     (4) the Company shall commence any case or proceeding seeking to have
an order for relief entered on its behalf as debtor or to adjudicate it as
bankrupt or insolvent or seeking reorganization, liquidation, dissolution,
winding-up, arrangement, composition or readjustment of its debts or any
other relief under any bankruptcy, insolvency, reorganization, liquidation,
dissolution, arrangement, composition, readjustment of debt or other similar
act or law of any jurisdiction, domestic or foreign, now or hereafter
existing; or the Company shall apply for a receiver, custodian or trustee
(other than any trustee appointed as a mortgagee or secured party in
connection with the issuance of indebtedness for borrowed money of the
Company) of it or for all or a substantial part of its property; or the
Company shall make a general assignment for the benefit of creditors; or the
Company shall take any corporate action in furtherance of any of the
foregoing; or

     (5) an involuntary case or other proceeding shall be commenced against
the Company with respect to it or its debts under any bankruptcy, insolvency
or other similar law now or hereafter in effect seeking the appointment of a
trustee, receiver, liquidator, custodian or similar official of it or any
substantial part of its property; and such case or other proceeding (A)
results in the entry of an order for relief or a similar order against it or
(B) shall continue unstayed and in effect for a period of 60 consecutive
days; or

     (6) the Guarantor shall commence any case or proceeding seeking to have
an order for relief entered on its behalf as debtor or to adjudicate it as
bankrupt or insolvent or seeking reorganization, liquidation, dissolution,
winding-up, arrangement, composition or readjustment of its debts or any
other relief under any bankruptcy, insolvency, reorganization, liquidation,
dissolution, arrangement, composition, readjustment of debt or other similar
act or law of any jurisdiction, domestic or foreign, now or hereafter
existing; or the Guarantor shall apply for a receiver, custodian or trustee
(other than any trustee appointed as a mortgagee or secured party in
connection with the issuance of indebtedness for borrowed money of the
Guarantor) of it or for all or a substantial part of its property;

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or the Guarantor shall make a general assignment for the benefit
of creditors; or the Guarantor shall take any corporate action in
furtherance of any of the foregoing; or

     (7) an involuntary case or other proceeding shall be commenced against
the Guarantor with respect to it or its debts under any bankruptcy,
insolvency or other similar law now or hereafter in effect seeking the
appointment of a trustee, receiver, liquidator, custodian or similar
official of it or any substantial part of its property; and such case or
other proceeding (a) results in the entry of an order for relief or a
similar order against it or (b) shall continue unstayed and in effect for a
period of 60 consecutive days; or

     (8) the guarantee of the Notes by the Guarantor is determined to be
unenforceable or invalid or shall for any reason cease to be in full force
and effect except as permitted by the Indenture and the Guarantees, or the
Guarantor repudiates its obligations under such guarantee.

SECTION 502 Acceleration of Maturity; Rescission and Annulment.

If an Event of Default with respect to any particular series of Securities occurs
and is continuing (other than an Event of Default described in Section 501(4) or
501(5)), then and in every such case either the Trustee for the Securities of such
series or the Holders of not less than 25% in principal amount of the Outstanding
Securities of that series may declare the entire principal amount (or, in the case
of (i) OID Securities, such lesser amount as may be provided for in the terms of
that series or (ii) Indexed Securities, the amount determined in accordance with the
specified terms of those Securities) of all the Securities of that series to be due
and payable immediately, by a notice in writing to the Company (and to such Trustee
if given by Holders), and upon any such declaration of acceleration such principal
or such lesser amount, as the case may be, together with accrued interest and all
other amounts owing hereunder, shall become immediately due and payable, without
presentment, demand, protest or notice of any kind, all of which are hereby
expressly waived.

If any Event of Default specified in Section 501(4), 501(5), 501(7) or 501(8) occurs
with respect to the Company, all of the unpaid principal amount (or, if the
Securities of any series then outstanding are (i) OID Securities, such lesser amount
as may be provided for in the terms of that series or (ii) Indexed Securities, the
amount determined in accordance with the specified terms of those Securities) and
accrued interest on all Securities of each series then Outstanding shall ipso facto
become and be immediately due and payable without any declaration or other act by
the Trustee or any Holder.

Notwithstanding anything herein to the contrary, to the extent elected by the
Company, the sole remedy for an Event of Default relating to the failure by the
Company to comply with the obligation set forth in Section 704 will, for the first
120 days after the occurrence of such an Event of Default, consist exclusively of
the right for Holders of each series of Securities to receive additional interest on
the Securities of that particular series equal to 0.25% per annum of the principal
amount of the Securities of such series. If the Company so elects, such additional
interest will be payable in the same manner and on the same dates as the stated
Interest Payment Dates on the Securities of that particular series. The additional
interest will accrue on all outstanding Securities from and including the date on
which such Event of Default first occurs to, but not including, the 120th day
thereafter

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(or such earlier date on which such Event of Default shall have been cured or waived
by Holders as provided in Section 513). On such 120th day after such Event of
Default (if the Event of Default relating to such obligation is not cured or waived
by Holders as provided in Section 513 prior to such 120th day), such additional
interest will cease to accrue and the Securities will be subject to acceleration as
provided above. The provisions of this paragraph will not affect the rights of
Holders in the event of the occurrence of any other Event of Default. In the event
the Company does not elect to pay the additional interest upon such Event of Default
in accordance with this paragraph, the Securities will be subject to acceleration as
provided above.

In order to elect to pay the additional interest as the sole remedy during the first
120 days after the occurrence of an Event of Default relating to the failure by the
Company to comply with the obligation set forth in Section 704 in accordance with
the immediately preceding paragraph, the Company must notify all Holders of each
series of Securities, the Trustee for the Securities of such series and the Paying
Agent for the Securities of such series of such election by delivering to the
Trustee an Officers’ Certificate as provided below on or before the close of
business on the date on which such Event of Default first occurs. Upon the
Company’s failure to deliver such Officers’ Certificate or pay the additional
interest specified in the immediately preceding paragraph, the Securities will be
subject to acceleration as provided above.

If the Company elects to pay additional interest, the Company shall deliver to the
Trustee an Officers’ Certificate to that effect stating that (i) the amount of such
additional interest that is payable and (ii) the date on which such additional
interest is payable. Unless and until a Responsible Officer of the Trustee receives
such certificate, the Trustee may assume without inquiry that no additional interest
is payable. If the Company has paid additional interest directly to the Persons
entitled to it, the Company shall deliver to the Trustee an Officers’ Certificate
setting forth the particulars of such payment.

At any time after such a declaration of acceleration has been made and before a
judgment or decree for payment of the money due has been obtained by the Trustee for
the Securities of any series as hereinafter in this Article provided, the Holders of
a majority in principal amount of the Outstanding Securities of that series, by
written notice to the Company and such Trustee, may rescind and annul such
declaration and its consequences if:

     (1) the Company has paid or deposited with such Trustee a sum
sufficient to pay in the currency or currency unit in which the Securities
of such series are payable (except as otherwise specified pursuant to
Section 301 for the Securities of such series and except as provided in
Section 311(c)):

     (A) all overdue interest, if any, on all Securities of that
series;

     (B) the principal of, and premium, if any, on any Securities of
that series which have become due otherwise than by such declaration
of acceleration and interest thereon from the date such principal
became due at a rate per annum equal to the rate borne by the
Securities of such series (or, in the case of (i) OID Securities,
the Securities’ Yield to Maturity or (ii) Indexed Securities, the
rate determined in accordance with the specified terms of those
Securities), to the extent that the payment of such interest shall
be legally enforceable;

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     (C) to the extent that payment of such interest is lawful,
interest upon overdue interest at a rate per annum equal to the rate
borne by the Securities of such series (or, in the case of (i) OID
Securities, the Securities’ Yield to Maturity or (ii) Indexed
Securities, the rate determined in accordance with the specified
terms of those Securities); and

     (D) all sums paid or advanced by such Trustee hereunder and the
reasonable compensation, expenses, disbursements and advances of
such Trustee, its agents and counsel and all other amounts due to
such Trustee under Section 607;

and

     (2) all Events of Default with respect to the Securities of such
series, other than the nonpayment of the principal of Securities of that
series which has become due solely by such acceleration, have been cured or
waived as provided in Section 513.

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

     (C) Limitation on Liens. By replacing Section 1007(b) of the Original Indenture in
its entirety as follows:

(b) The Company and/or any Subsidiary may create, assume or incur, or suffer to be
created, assumed or incurred, liens which would otherwise be prohibited by
Subsection (a) of this Section 1007, provided that the indebtedness secured thereby,
plus the aggregate value of the Sale and Leaseback Transactions permitted by the
provisions of Subsection (b) of Section 1008, does not at the time exceed 15% of
Consolidated Net Tangible Assets.

     (D) Sale and Leaseback Transactions. By replacing Section 1008(b) of the Original
Indenture in its entirety as follows:

(b) The Company or a Subsidiary may enter into a Sale and Leaseback Transaction
which would otherwise be prohibited by Subsection (a) of this Section 1008, provided
that the value thereof plus the aggregate indebtedness permitted to be secured under
the provisions of paragraph (b) of Section 1007 does not at the time exceed 15% of
Consolidated Net Tangible Assets.

     (E) Repurchase Upon Change of Control Triggering Event. By adding Section 1011 to the
Original Indenture in its entirety as follows:

Section 1011. Repurchase Upon Change of Control Triggering Event

(a) If a Change of Control Triggering Event occurs, each Holder of Notes may require
the Company to repurchase all or any part (equal to $2,000 or an integral multiple
of $1,000 in excess of $2,000) of that Holder’s Notes pursuant to an offer (the
“Change of Control Offer”) of 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, but not including, the date of repurchase (a “Change of
Control Payment”).

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(b) Within 30 days following any Change of Control Triggering Event or, at the
Company’s option, prior to any Change of Control, but after public announcement of
the transaction that constitutes or may constitute the Change of Control, the
Company shall mail a notice to Holders describing the transaction that constitutes
or may constitute the Change of Control Triggering Event and offering to repurchase
the Notes on the date specified in the notice, which date shall be no earlier than
30 days and no later than 60 days from the date such notice is mailed (a “Change of
Control Payment Date”). The notice, if mailed prior to the date of consummation of
the Change of Control, shall state that the Change of Control Offer is conditioned
on the Change of Control Triggering Event occurring on or prior to the Change of
Control Payment Date.

(c) On the Change of Control Payment Date, the Company shall, to the extent lawful:

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

(ii) 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

(iii) 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.

(d) The Paying Agent shall promptly remit to each Holder of properly tendered Notes
the Change of Control Payment for the Notes, and the Trustee shall promptly
authenticate and deliver (or cause to be transferred by book-entry) to each Holder a
new Note equal in principal amount to any unpurchased portion of any Notes
surrendered; provided that each new Note shall be in a principal amount of $2,000 or
an integral multiple of $1,000 in excess of $2,000.

(e) The Company shall not be required to make a Change of Control Offer upon the
occurrence of a Change of Control Triggering Event if a third party makes such an
offer in the manner, at the times and otherwise in compliance with the requirements
set for an offer made by the Company, and the third party repurchases all Notes
properly tendered and not withdrawn under its offer. In addition, the Company shall
not repurchase any Notes if there has occurred and is continuing on the Change of
Control Payment Date an Event of Default under the Indenture, other than a default
in the payment of the Change of Control Payment upon a Change of Control Triggering
Event.

(f) The Company shall comply with the requirements of Section 14(e) of the
Securities Exchange Act of 1934, as amended, Rule 14e-1 thereunder and any other
securities laws and regulations thereunder to the extent those laws and regulations
are applicable in connection with the repurchase of the Notes as a result of a
Change of Control Triggering Event. To the extent that the provisions of any such
securities laws or regulations conflict with the provisions of this Section 1011,
the Company shall comply with those securities laws and regulations and shall not be
deemed to have breached its obligations under this Section 1011 by virtue of any
such conflict.

     (F) Redemption of Securities. Sections 1101 — 1107 shall not apply to the Notes.
The Notes shall not be redeemable prior to maturity.

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     (G) Sinking Funds. Sections 1201 — 1203 shall not apply to the Notes. The Notes
shall not be entitled to any sinking fund.

     Section 2. The recitals and statements in this Third Supplemental Indenture are made
by the Company only and not by the Trustee, and the Trustee makes no representation as to the
validity or sufficiency of this Third Supplemental Indenture (other than with respect to the due
authorization, execution and delivery of this Third Supplemental Indenture by the Trustee). All of
the provisions contained in the Original Indenture in respect of the rights, privileges,
immunities, powers and duties of the Trustee shall be applicable in respect of the Notes and of
this Third Supplemental Indenture as fully and with like effect as if set forth herein in full.

     Section 3. As supplemented hereby, the Original Indenture is in all respects ratified
and confirmed, and the Original Indenture and this Third Supplemental Indenture shall be read,
taken and construed as one and the same instrument and all references to Securities in the Original
Indenture shall be deemed to refer also to the Notes unless the context otherwise provides.

     Section 4. This Third Supplemental Indenture shall be governed by, and construed in
accordance with, the laws of the State of New York.

     Section 5. In the event of a conflict between the terms and conditions of the Original
Indenture and the terms and conditions of this Third Supplemental Indenture, then the terms and
conditions of this Third Supplemental Indenture shall prevail; provided that if and to the extent
that any provision of this Third Supplemental Indenture limits, qualifies or conflicts with another
provision which is required to be included herein or in the Original Indenture by the Trust
Indenture Act of 1939, as amended, such required provision shall control.

     Section 6. All covenants and agreements in this Third Supplemental Indenture by the
Company shall bind its successors and assigns, whether so expressed or not.

     Section 7. In case any provision in this Third Supplemental Indenture shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired hereby.

     Section 8. Nothing in this Third Supplemental Indenture, expressed or implied, shall
give to any Person, other than the parties hereto and any Paying Agent, any Security Registrar and
any Authenticating Agent for the Notes and their successors under the Indenture, and the Holders of
the Notes any benefit or any legal or equitable right, remedy or claim under this Third
Supplemental Indenture.

     Section 9. This Third Supplemental Indenture may be simultaneously executed in several
counterparts, each of which shall be deemed to be an original, and such counterparts shall together
constitute but one and the same instrument.

(signature page follows)

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     IN WITNESS WHEREOF, the parties hereto have caused this Third Supplemental Indenture dated
August 4, 2011 to be duly executed.

	 	 	 	 	 
	 	LORILLARD TOBACCO COMPANY,

Issuer

 	 
	 	By:  	/s/ David H. Taylor
 	 
	 	 	Name:  	David H. Taylor 	 
	 	 	Title:  	Executive Vice President, Finance and
Planning and Chief Financial Officer 	 
	 
	 	LORILLARD, INC.,

Guarantor

 	 
	 	By:  	/s/ David H. Taylor
 	 
	 	 	Name:  	David H. Taylor 	 
	 	 	Title:  	Executive Vice President, Finance and
Planning and Chief Financial Officer 	 
	 

Signature Page to Third Supplemental Indenture

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

Trustee

 	 
	 	By:  	/s/ Christie Leppert
 	 
	 	 	Name:  	Christie Leppert 	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Third Supplemental Indenture

 

 

EXHIBIT A-1

FORM OF NOTE DUE 2016

REGISTERED

No.

LORILLARD TOBACCO COMPANY

3.500% Senior Notes due 2016

PRINCIPAL AMOUNT

$

CUSIP NO. 544152 AD3

ISIN NO. US544152AD32

     THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND
IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED
IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE BY THE DEPOSITORY TRUST COMPANY (THE “DEPOSITARY”) TO A 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 NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR
ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN
THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), 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.

     LORILLARD TOBACCO COMPANY, a Delaware corporation (hereinafter called the “Company,”
which term includes any successor corporation under the Indenture hereinafter referred to), for
value received, hereby promises to pay to Cede & Co. or registered assigns, the principal sum of
$500,000,000 on August 4, 2016, and to pay interest thereon from August 4, 2011 or from the most
recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in
arrears on February 4 and August 4 in each year, commencing February 4, 2012 at the rate of 3.500%
per annum until the principal hereof is paid or made available for payment.

     The interest so payable, and punctually paid or duly provided for, on any Interest Payment
Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for
such interest, which shall be January 20 or July 20 (whether or not a Business Day), as the case
may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or
duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and
may be paid to the Person in whose name this Note (or one or more Predecessor Securities) is
registered at the close of business on a Special

 

 

Record Date for the payment of such Defaulted Interest to be fixed by the Trustee for the
Notes, notice whereof shall be given to Holders of Notes not less than 10 days prior to such
Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Notes may be listed, and upon such notice
as may be required by such exchange, all as more fully provided in said Indenture.

     Payment of the principal of (and premium, if any) and interest on this Note will be made at
the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The
City of New York, in such coin or currency of the United States of America or in such Foreign
Currency as applicable, as at the time of payment is legal tender for payment of public and private
debts; provided, however, that at the option of the Company payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear on the
Securities Register or by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least 15 days prior to the
date for payment by the person entitled thereto. All payments of principal, premium, if any, and
interest in respect of this Note will be made by the Company in immediately available funds.

     Additional provisions of this Note are contained on the reverse hereof, and such provisions
shall have the same effect as though fully set forth in this place.

     Unless the certificate of authentication hereon has been executed by or on behalf of the
Trustee for the Notes by manual signature, this Note shall not be entitled to any benefit under the
Indenture, or be valid or obligatory for any purpose.

 

 

     IN WITNESS WHEREOF, LORILLARD TOBACCO COMPANY has caused this instrument to be duly executed.

	 	 	 	 	 
	Dated: August 4, 2011	LORILLARD TOBACCO COMPANY

 	 
	 	By:  	

 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

CERTIFICATE OF AUTHENTICATION

     This is one of the Notes of the series designated therein described in the within-mentioned
Indenture.

	 	 	 	 	 
	 Dated: August 4, 2011 	THE BANK OF NEW YORK MELLON TRUST 

COMPANY,N.A.,

as Trustee

 	 
	 	By:  	

 	 
	 	 	Authorized Signatory 	 
	 	 	 	 

 

 

	 	 	 	 	 

(Reverse of Note)

LORILLARD TOBACCO COMPANY

     This Note is one of a series of the Senior Notes designated therein as 3.500% Notes due August
4, 2016 (the “2016 Senior Notes”). This 2016 Senior Note is one of a duly authorized issue
of debentures, notes or other evidences of indebtedness of the Company of the series hereinafter
specified, which series is limited in aggregate principal amount to $500,000,000 (except as
provided in the Indenture hereinafter mentioned), all such 2016 Senior Notes issued and to be
issued under the Indenture, dated June 23, 2009, as supplemented by the Third Supplemental
Indenture, dated August 4, 2011, by and among the Company, Lorillard, Inc., as Guarantor, and The
Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the “Indenture”), to
which Indenture and all other indentures supplemental thereto reference is hereby made for a
statement of the rights and limitations of rights thereunder of the Holders of the 2016 Senior
Notes and of the rights, obligations, duties and immunities of the Trustee for each series of 2016
Senior Notes and of the Company, and the terms upon which the 2016 Senior Notes are and are to be
authenticated and delivered. Each holder of a 2016 Senior Note, by acceptance thereof, agrees to
be bound by the terms of this 2016 Senior Note and the within referenced Indenture.

Guarantee

     The 2016 Senior Notes have the benefit of the unconditional guarantee by the Guarantor to pay
the principal of, and premium, if any, and interest, if any, on the 2016 Senior Notes, according to
the terms of and as more fully described in the Indenture and the related Guarantee Agreement
executed by the Guarantor on the date hereof.

Defeasance

     The Indenture contains provisions for defeasance at any time of the entire principal of all
the 2016 Senior Notes of any series upon compliance by the Company with certain conditions set
forth therein.

Events of Default

     If an Event of Default (other than an Event of Default described in Section 501(4) or 501(5)
of the Indenture as amended by the Third Supplemental Indenture) with respect to the 2016 Senior
Notes shall occur and be continuing, then either the Trustee or the Holders of not less than 25% in
principal amount of the 2016 Senior Notes then Outstanding may declare the entire principal amount
of the 2016 Senior Notes due and payable in the manner and with effect provided in the Indenture.
If an Event of Default specified in Section 501(4) or 501(5) of the Indenture as amended by the
Third Supplemental Indenture occurs with respect to the Company, all of the unpaid principal amount
and accrued interest then Outstanding shall ipso facto become and be immediately due and payable in
the manner with the effect provided in the Indenture without any declaration or other act by the
Trustee or any Holder.

     Notwithstanding anything in the immediately preceding paragraph to the contrary, to the extent
elected by the Company, the sole remedy for an Event of Default relating to the failure by the
Company to comply with the obligation to provide certain reports and information as set forth in
Section 704 of the Indenture will, for the first 120 days after the occurrence of such an Event of
Default, consist exclusively of the right for Holders to receive additional interest on the 2016
Senior Notes equal to 0.25% per annum of the principal amount of the 2016 Senior Notes. If the
Company so elects, such additional interest will be payable in the same manner and on the same
dates as the stated Interest Payment Dates on the 2016 Senior Notes. The additional interest will
accrue on all outstanding 2016 Senior Notes from and including

 

 

 the date on which such Event of Default first occurs to, but not including, the 120th day
thereafter (or such earlier date on which such Event of Default shall have been cured or waived by
Holders as provided in Section 513 of the Indenture). On such 120th day after such Event of
Default (if the Event of Default relating to such obligation is not cured or waived by Holders as
provided in Section 513 of the Indenture prior to such 120th day), such additional interest will
cease to accrue and the 2016 Senior Notes will be subject to acceleration as provided in the
paragraph above. In the event the Company does not elect to pay the additional interest upon such
Event of Default in accordance with this paragraph, the 2016 Senior Notes will be subject to
acceleration as provided in paragraph above.

Amendments

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
2016 Senior Notes under the Indenture at any time by the Company and the Guarantor with the consent
of the Holders of more than 50% in aggregate principal amount of the Outstanding 2016 Senior Notes
of each series of 2016 Senior Notes then Outstanding affected thereby. The Indenture also contains
provisions permitting the Holders of specified percentages in aggregate principal amount of the
2016 Senior Notes of any series at the time Outstanding, on behalf of the Holders of all the 2016
Senior Notes of such series, to waive compliance by the Company with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences with respect to such
series. Any such consent or waiver by the Holder of this 2016 Senior Note shall be conclusive and
binding upon such Holder and upon all future Holders of this 2016 Senior Note and of any 2016
Senior Note issued upon the transfer hereof or in exchange or in lieu hereof whether or not
notation of such consent or waiver is made upon this 2016 Senior Note.

Payment

     No reference herein to the Indenture and no provision of this 2016 Senior Note or of the
Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of (and premium, if any) and interest on this 2016 Senior Note at the times,
place and rate, and in the coin or currency, herein and in the Indenture prescribed.

Transfer, Registration and Exchange

     As provided in the Indenture and subject to certain limitations therein set forth, this 2016
Senior Note is transferable on the Security Register of the Company, upon surrender of this 2016
Senior Note for registration of transfer at the office or agency of the Company to be maintained
for that purpose in the Borough of Manhattan, The City of New York, or at any other office or
agency of the Company maintained for that purpose, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed
by the Holder hereof or his or her attorney duly authorized in writing, and thereupon one or more
new 2016 Senior Notes, of authorized denominations and for the same aggregate principal amount,
will be issued to the designated transferee or transferees.

     The 2016 Senior Notes are issuable only in registered form only in denominations of $2,000 and
integral multiples of $1,000 in excess of $2,000 or the equivalent amount thereof in the case of
2016 Senior Notes denominated in a Foreign Currency or currency unit. As provided in the Indenture
and subject to certain limitations therein set forth, 2016 Senior Notes are exchangeable for a like
aggregate principal amount of 2016 Senior Notes of a like tenor and of a different authorized
denomination, as requested by the Holder surrendering the same.

 

 

     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     The Company, the Trustee for the 2016 Senior Notes and any agent of the Company or such
Trustee may treat the Person in whose name this 2016 Senior Note is registered as the owner hereof
for the purpose of receiving payment as herein provided and for all other purposes, whether or not
this 2016 Senior Note be overdue, and neither the Company, such Trustee nor any such agent shall be
affected by notice to the contrary.

     Certain of the Company’s obligations under the Indenture with respect to 2016 Senior Notes may
be terminated if the Company irrevocably deposits with the Trustee money or Government Obligations
sufficient to pay and discharge the entire indebtedness on all 2016 Senior Notes, as provided in
the Indenture.

     This 2016 Senior Note shall for all purposes be governed by, and construed in accordance with,
the laws of the State of New York.

     Certain terms used in this 2016 Senior Note which are defined in the Indenture have the
meanings set forth therein. In the event of any conflict or inconsistency between any of the terms
of this 2016 Senior Note and any of the terms of the within referenced Indenture, the terms of the
Indenture shall control.

 

 

FORM OF ASSIGNMENT

     FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

PLEASE INSERT SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

(Name and address of Assignee, including zip code, must be printed or typewritten)

 

 

the within 2016 Senior Note, and all rights thereunder, hereby irrevocably, constituting and
appointing

 

 

Attorney to transfer the said 2016 Senior Note on the books of Lorillard Tobacco Company with full
power of substitution in the premises.

	 	 	 	 	 

	Dated:
	 	 	 	 
	 

	 	 
	 	 
	 

	 	 	 	NOTICE: The signature to this assignment must correspond
with the name as it appears upon the face of the within 2016
Senior Note in every particular, without alteration or
enlargement or any change whatever.

 

 

EXHIBIT A-2

FORM OF NOTE DUE 2041

REGISTERED

No.

LORILLARD TOBACCO COMPANY

7.000% Senior Notes due 2041

			
	 
	 	PRINCIPAL AMOUNT

$

CUSIP NO. 544152 AE1

ISIN NO. US544152AE15

     THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND
IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED
IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE BY THE DEPOSITORY TRUST COMPANY (THE “DEPOSITARY”) TO A 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 NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR
ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN
THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), 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.

     LORILLARD TOBACCO COMPANY, a Delaware corporation (hereinafter called the “Company,”
which term includes any successor corporation under the Indenture hereinafter referred to), for
value received, hereby promises to pay to Cede & Co. or registered assigns, the principal sum of
$250,000,000 on August 4, 2041 and to pay interest thereon from August 4, 2011 or from the most
recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in
arrears on February 4 and August 4 in each year, commencing February 4, 2012 at the rate of 7.000%
per annum until the principal hereof is paid or made available for payment.

     The interest so payable, and punctually paid or duly provided for, on any Interest Payment
Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for
such interest, which shall be January 20 or July 20 (whether or not a Business Day), as the case
may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or
duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and
may be paid to the Person in whose name this Note (or one or more Predecessor Securities) is
registered at the close of business on a Special

 

 

Record Date for the payment of such Defaulted Interest to be fixed by the Trustee for the
Notes, notice whereof shall be given to Holders of Notes not less than 10 days prior to such
Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Notes may be listed, and upon such notice
as may be required by such exchange, all as more fully provided in said Indenture.

     Payment of the principal of (and premium, if any) and interest on this Note will be made at
the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The
City of New York, in such coin or currency of the United States of America or in such Foreign
Currency as applicable, as at the time of payment is legal tender for payment of public and private
debts; provided, however, that at the option of the Company payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear on the
Securities Register or by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least 15 days prior to the
date for payment by the person entitled thereto. All payments of principal, premium, if any, and
interest in respect of this Note will be made by the Company in immediately available funds.

     Additional provisions of this Note are contained on the reverse hereof, and such provisions
shall have the same effect as though fully set forth in this place.

     Unless the certificate of authentication hereon has been executed by or on behalf of the
Trustee for the Notes by manual signature, this Note shall not be entitled to any benefit under the
Indenture, or be valid or obligatory for any purpose.

 

 

     IN WITNESS WHEREOF, LORILLARD TOBACCO COMPANY has caused this instrument to be duly executed.

	 	 	 	 	 
	Dated: August 4, 2011 	LORILLARD TOBACCO COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

CERTIFICATE OF AUTHENTICATION

     This is one of the Notes of the series designated therein described in the within-mentioned
Indenture.

	 	 	 	 	 
	Dated: August 4, 2011 	THE BANK OF NEW YORK MELLON TRUST

COMPANY, N.A.,

as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

 

 

(Reverse of Note)

LORILLARD TOBACCO COMPANY

     This Note is one of a series of the Senior Notes designated therein as 7.000% Notes due August
4, 2041 (the “2041 Senior Notes”). This 2041 Senior Note is one of a duly authorized issue
of debentures, notes or other evidences of indebtedness of the Company of the series hereinafter
specified, which series is limited in aggregate principal amount to $250,000,000 (except as
provided in the Indenture hereinafter mentioned), all such 2041 Senior Notes issued and to be
issued under the Indenture, dated June 23, 2009, as supplemented by the Third Supplemental
Indenture, dated August 4, 2011, by and among the Company, Lorillard, Inc., as Guarantor, and The
Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the “Indenture”), to
which Indenture and all other indentures supplemental thereto reference is hereby made for a
statement of the rights and limitations of rights thereunder of the Holders of the 2041 Senior
Notes and of the rights, obligations, duties and immunities of the Trustee for each series of 2041
Senior Notes and of the Company, and the terms upon which the 2041 Senior Notes are and are to be
authenticated and delivered. Each holder of a 2041 Senior Note, by acceptance thereof, agrees to
be bound by the terms of this 2041 Senior Note and the within referenced Indenture.

Guarantee

     The 2041 Senior Notes have the benefit of the unconditional guarantee by the Guarantor to pay
the principal of, and premium, if any, and interest, if any, on the 2041 Senior Notes, according to
the terms of and as more fully described in the Indenture and the related Guarantee Agreement
executed by the Guarantor on the date hereof.

Defeasance

     The Indenture contains provisions for defeasance at any time of the entire principal of all
the 2041 Senior Notes of any series upon compliance by the Company with certain conditions set
forth therein.

Events of Default

     If an Event of Default (other than an Event of Default described in Section 501(4) or 501(5)
of the Indenture as amended by the Third Supplemental Indenture) with respect to the 2041 Senior
Notes shall occur and be continuing, then either the Trustee or the Holders of not less than 25% in
principal amount of the 2041 Senior Notes then Outstanding may declare the entire principal amount
of the 2041 Senior Notes due and payable in the manner and with effect provided in the Indenture.
If an Event of Default specified in Section 501(4) or 501(5) of the Indenture as amended by the
Third Supplemental Indenture occurs with respect to the Company, all of the unpaid principal amount
and accrued interest then Outstanding shall ipso facto become and be immediately due and payable in
the manner with the effect provided in the Indenture without any declaration or other act by the
Trustee or any Holder.

     Notwithstanding anything in the immediately preceding paragraph to the contrary, to the extent
elected by the Company, the sole remedy for an Event of Default relating to the failure by the
Company to comply with the obligation to provide certain reports and information as set forth in
Section 704 of the Indenture will, for the first 120 days after the occurrence of such an Event of
Default, consist exclusively of the right for Holders to receive additional interest on the 2041
Senior Notes equal to 0.25% per annum of the principal amount of the 2041 Senior Notes. If the
Company so elects, such additional interest will be payable in the same manner and on the same
dates as the stated Interest Payment Dates on the 2041 Senior Notes. The additional interest will
accrue on all outstanding 2041 Senior Notes from and includ-

 

 

ing the date on which such Event of Default first occurs to, but not including, the 120th day
thereafter (or such earlier date on which such Event of Default shall have been cured or waived by
Holders as provided in Section 513 of the Indenture). On such 120th day after such Event of
Default (if the Event of Default relating to such obligation is not cured or waived by Holders as
provided in Section 513 of the Indenture prior to such 120th day), such additional interest will
cease to accrue and the 2041 Senior Notes will be subject to acceleration as provided in the
paragraph above. In the event the Company does not elect to pay the additional interest upon such
Event of Default in accordance with this paragraph, the 2041 Senior Notes will be subject to
acceleration as provided in paragraph above.

Amendments

     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
2041 Senior Notes under the Indenture at any time by the Company and the Guarantor with the consent
of the Holders of more than 50% in aggregate principal amount of the Outstanding 2041 Senior Notes
of each series of 2041 Senior Notes then Outstanding affected thereby. The Indenture also contains
provisions permitting the Holders of specified percentages in aggregate principal amount of the
2041 Senior Notes of any series at the time Outstanding, on behalf of the Holders of all the 2041
Senior Notes of such series, to waive compliance by the Company with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences with respect to such
series. Any such consent or waiver by the Holder of this 2041 Senior Note shall be conclusive and
binding upon such Holder and upon all future Holders of this 2041Senior Note and of any 2041 Senior
Note issued upon the transfer hereof or in exchange or in lieu hereof whether or not notation of
such consent or waiver is made upon this 2041 Senior Note.

Payment

     No reference herein to the Indenture and no provision of this 2041 Senior Note or of the
Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of (and premium, if any) and interest on this 2041 Senior Note at the times,
place and rate, and in the coin or currency, herein and in the Indenture prescribed.

Transfer, Registration and Exchange

     As provided in the Indenture and subject to certain limitations therein set forth, this 2041
Senior Note is transferable on the Security Register of the Company, upon surrender of this 2041
Senior Note for registration of transfer at the office or agency of the Company to be maintained
for that purpose in the Borough of Manhattan, The City of New York, or at any other office or
agency of the Company maintained for that purpose, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed
by the Holder hereof or his or her attorney duly authorized in writing, and thereupon one or more
new 2041 Senior Notes, of authorized denominations and for the same aggregate principal amount,
will be issued to the designated transferee or transferees.

     The 2041 Senior Notes are issuable only in registered form only in denominations of $2,000 and
integral multiples of $1,000 in excess of $2,000 or the equivalent amount thereof in the case of
2041 Senior Notes denominated in a Foreign Currency or currency unit. As provided in the Indenture
and subject to certain limitations therein set forth, 2041 Senior Notes are exchangeable for a like
aggregate principal amount of 2041 Senior Notes of a like tenor and of a different authorized
denomination, as requested by the Holder surrendering the same.

 

 

     No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge
payable in connection therewith.

     The Company, the Trustee for the 2041 Senior Notes and any agent of the Company or such
Trustee may treat the Person in whose name this 2041 Senior Note is registered as the owner hereof
for the purpose of receiving payment as herein provided and for all other purposes, whether or not
this 2041 Senior Note be overdue, and neither the Company, such Trustee nor any such agent shall be
affected by notice to the contrary.

     Certain of the Company’s obligations under the Indenture with respect to 2041 Senior Notes may
be terminated if the Company irrevocably deposits with the Trustee money or Government Obligations
sufficient to pay and discharge the entire indebtedness on all 2041 Senior Notes, as provided in
the Indenture.

     This 2041 Senior Note shall for all purposes be governed by, and construed in accordance with,
the laws of the State of New York.

     Certain terms used in this 2041 Senior Note which are defined in the Indenture have the
meanings set forth therein. In the event of any conflict or inconsistency between any of the terms
of this 2041 Senior Note and any of the terms of the within referenced Indenture, the terms of the
Indenture shall control.

 

 

FORM OF ASSIGNMENT

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto

PLEASE INSERT SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

(Name and address of Assignee, including zip code, must be printed or typewritten)

 

 

the within 2041 Senior Note, and all rights thereunder, hereby irrevocably, constituting and
appointing

 

 

Attorney to transfer the said 2041 Senior Note on the books of Lorillard Tobacco Company with full
power of substitution in the premises.

	 	 	 	 	 
	 	 	 
	Dated:  _________________ 	
 	 
	 	NOTICE:  The signature to this assignment must correspond with the name as it appears upon the face of the within 2041
Senior Note in every particular, without alteration or
enlargement or any change whatever. 	 
	 

 

 

EXHIBIT B-1

FORM OF GUARANTEE OF 2016 SENIOR NOTES

     GUARANTEE, dated August 4, 2011 (as amended from time to time, this “Guarantee”), made
by Lorillard, Inc., a Delaware corporation (the “Guarantor”), in favor of The Bank of New
York Mellon Trust Company, N.A., as trustee (“Trustee”) for the registered holders (the
” Holders”) of the 3.500% Senior Notes due August 4, 2016 (the “2016 Senior Notes”)
of Lorillard Tobacco Company, a Delaware corporation (the “Issuer”).

WITNESSETH:

     SECTION 1. Guarantee. (a) The Guarantor hereby unconditionally guarantees the
punctual payment when due, whether at stated maturity, by acceleration or otherwise, of the
principal of, premium, if any, and interest on the 2016 Senior Notes (the “Obligations”),
according to the terms of the 2016 Senior Notes and as more fully described in the Indenture dated
June 23, 2009 (as amended by the Third Supplemental Indenture, dated August 4, 2011, the
“Indenture”) by and among the Issuer, the Guarantor and the Trustee, and any other amounts
payable by the Guarantor under the Indenture.

     (b) It is the intention of the Guarantor that this Guarantee 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
this Guarantee. To effectuate the foregoing intention, the amount guaranteed by the Guarantor
under this Guarantee shall be limited to the maximum amount as will, after giving effect to such
maximum amount and all other contingent and fixed liabilities of the Guarantor that are relevant
under such laws, result in the Obligations of the Guarantor under this Guarantee not constituting a
fraudulent transfer or conveyance. For purposes hereof, “Bankruptcy Law” means Title 11, U.S.
Code, or any similar federal or state law for the relief of debtors.

     SECTION 2. Guarantee Absolute. The Guarantor guarantees that the Obligations will be
paid strictly in accordance with the terms of the Indenture, regardless of any law, regulation or
order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of
Holders of the 2016 Senior Notes with respect thereto. The liability of the Guarantor under this
Guarantee shall be absolute and unconditional irrespective of:

          (i) any lack of validity, enforceability or genuineness of any provision of the
Indenture, the 2016 Senior Notes or any other agreement or instrument relating thereto;

          (ii) any change in the time, manner or place of payment of, or in any other term of,
all or any of the Obligations, or any other amendment or waiver of or any consent to
departure from the Indenture;

          (iii) any exchange, release or non-perfection of any collateral, or any release or
amendment or waiver of or consent to departure from any other guarantee, for all or any of
the Obligations; or

          (iv) any other circumstance that might otherwise constitute a defense available to, or
a discharge of, the Issuer or a guarantor.

 

 

     SECTION 3. Ranking. The Guarantor covenants and agrees that its obligation to make
payments of the Obligations hereunder constitutes an unsecured obligation of the Guarantor ranking
pari passu with all existing and future senior unsecured indebtedness of the Guarantor.

     SECTION 4. Waiver; Subrogation. (a) The Guarantor hereby waives promptness,
diligence, notice of acceptance and any other notice with respect to this Guarantee and any
requirement that the Trustee, or the Holders of any 2016 Senior Notes protect, secure, perfect or
insure any security interest or lien or any property subject thereto or exhaust any right or take
any action against the Issuer or any other Person or any collateral.

     (b) The Guarantor hereby irrevocably waives any claims or other rights that it may now or
hereafter acquire against the Issuer that arise from the existence, payment, performance or
enforcement of the Guarantor’s obligations under this Guarantee or the Indenture, including,
without limitation, any right of subrogation, reimbursement, exoneration, contribution or
indemnification and any right to participate in any claim or remedy of the Trustee, or the Holders
of any 2016 Senior Notes against the Issuer or any collateral, whether or not such claim, remedy or
right arises in equity or under contract, statute or common law, including, without limitation, the
right to take or receive from the Issuer, directly or indirectly, in cash or other property or by
set-off or in any other manner, payment or security on account of such claim, remedy or right. If
any amount shall be paid to the Guarantor in violation of the preceding sentence at any time prior
to the cash payment in full of the Obligations and all other amounts payable under this Guarantee,
such amount shall be held in trust for the benefit of the Trustee and the Holders of any 2016
Senior Notes and shall forthwith be paid to the Trustee, to be credited and applied to the
Obligations and all other amounts payable under this Guarantee, whether matured or unmatured, in
accordance with the terms of the Indenture and this Guarantee, or be held as collateral for any
Obligations or other amounts payable under this Guarantee thereafter arising. The Guarantor
acknowledges that it will receive direct and indirect benefits from the financing arrangements
contemplated by the Indenture and this Guarantee and that the waiver set forth in this Section 4 is
knowingly made in contemplation of such benefits.

     SECTION 5. No Waiver; Remedies. No failure on the part of the Trustee or any Holder
of the 2016 Senior Notes to exercise, and no delay in exercising, any right hereunder shall operate
as a waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any
other or further exercise thereof or the exercise of any other right. The remedies herein provided
are cumulative and not exclusive of any remedies provided by law.

     SECTION 6. Continuing Guarantee; Transfer of Interest. This Guarantee is a
continuing guarantee and shall (a) remain in full force and effect until the earliest to occur of
(i) the date, if any, on which the Guarantor shall consolidate with or merge into the Issuer or any
successor thereto, (ii) the date, if any, on which the Issuer or any successor thereto shall
consolidate with or merge into the Guarantor, (iii) payment in full of the Obligations, and (iv)
the rating of the Issuer’s long term senior unsecured debt by Standard & Poor’s of A or higher, (b)
be binding upon the Guarantor, its successors and assigns, and (c) inure to the benefit of and be
enforceable by any Holder of 2016 Senior Notes, the Trustee, and by their respective successors,
transferees, and assigns.

     SECTION 7. Reinstatement. This Guarantee shall continue to be effective or be
reinstated, as the case may be, if at any time any payment of any of the Obligations is rescinded
or must otherwise be returned by any Holder of the 2016 Senior Notes or the Trustee upon the
insolvency, bankruptcy or reorganization of the Issuer or otherwise, all as though such payment had
not been made.

     SECTION 8. Amendment. The Guarantor may amend this Guarantee at any time for any
purpose without the consent of the Trustee or any Holder of the 2016 Senior Notes; provided,
however, that if such amendment adversely affects (a) the rights of the Trustee or (b) any Holder
of the 2016 Senior

 

 

Notes, the prior written consent of the Trustee (in the case of (b), acting at the written
direction of the Holders of more than 50% in aggregate principal amount of 2016 Senior Notes) shall
be required.

     SECTION 9. Governing Law. This Guarantee shall be governed by, and construed in
accordance with the laws of the State of New York.

 

 

     IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be duly executed and delivered
by its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 
	 	LORILLARD, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT B-2

FORM OF GUARANTEE OF 2041 SENIOR NOTES

     GUARANTEE, dated August 4, 2011 (as amended from time to time, this “Guarantee”), made
by Lorillard, Inc., a Delaware corporation (the “Guarantor”), in favor of The Bank of New
York Mellon Trust Company, N.A., as trustee (“Trustee”) for the registered holders (the
“Holders”) of the 7.000% Senior Notes due August 4, 2041 (the “2041 Senior Notes”)
of Lorillard Tobacco Company, a Delaware corporation (the “Issuer”).

WITNESSETH:

     SECTION 1. Guarantee. (a) The Guarantor hereby unconditionally guarantees the
punctual payment when due, whether at stated maturity, by acceleration or otherwise, of the
principal of, premium, if any, and interest on the 2041 Senior Notes (the “Obligations”),
according to the terms of the 2041 Senior Notes and as more fully described in the Indenture dated
June 23, 2009 (as amended by the Third Supplemental Indenture, dated August 4, 2011, the
“Indenture”) by and among the Issuer, the Guarantor and the Trustee, and any other amounts
payable by the Guarantor under the Indenture.

     (b) It is the intention of the Guarantor that this Guarantee 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
this Guarantee. To effectuate the foregoing intention, the amount guaranteed by the Guarantor
under this Guarantee shall be limited to the maximum amount as will, after giving effect to such
maximum amount and all other contingent and fixed liabilities of the Guarantor that are relevant
under such laws, result in the Obligations of the Guarantor under this Guarantee not constituting a
fraudulent transfer or conveyance. For purposes hereof, “Bankruptcy Law” means Title 11, U.S.
Code, or any similar federal or state law for the relief of debtors.

     SECTION 2. Guarantee Absolute. The Guarantor guarantees that the Obligations will be
paid strictly in accordance with the terms of the Indenture, regardless of any law, regulation or
order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of
Holders of the 2041 Senior Notes with respect thereto. The liability of the Guarantor under this
Guarantee shall be absolute and unconditional irrespective of:

     (i) any lack of validity, enforceability or genuineness of any provision of the
Indenture, the 2041 Senior Notes or any other agreement or instrument relating thereto;

     (ii) any change in the time, manner or place of payment of, or in any other term of,
all or any of the Obligations, or any other amendment or waiver of or any consent to
departure from the Indenture;

     (iii) any exchange, release or non-perfection of any collateral, or any release or
amendment or waiver of or consent to departure from any other guarantee, for all or any of
the Obligations; or

     (iv) any other circumstance that might otherwise constitute a defense available to, or
a discharge of, the Issuer or a guarantor.

 

 

     SECTION 3. Ranking. The Guarantor covenants and agrees that its obligation to make
payments of the Obligations hereunder constitutes an unsecured obligation of the Guarantor ranking
pari passu with all existing and future senior unsecured indebtedness of the Guarantor.

     SECTION 4. Waiver; Subrogation. (a) The Guarantor hereby waives promptness,
diligence, notice of acceptance and any other notice with respect to this Guarantee and any
requirement that the Trustee, or the Holders of any 2041 Senior Notes protect, secure, perfect or
insure any security interest or lien or any property subject thereto or exhaust any right or take
any action against the Issuer or any other Person or any collateral.

     (b) The Guarantor hereby irrevocably waives any claims or other rights that it may now or
hereafter acquire against the Issuer that arise from the existence, payment, performance or
enforcement of the Guarantor’s obligations under this Guarantee or the Indenture, including,
without limitation, any right of subrogation, reimbursement, exoneration, contribution or
indemnification and any right to participate in any claim or remedy of the Trustee, or the Holders
of any 2041 Senior Notes against the Issuer or any collateral, whether or not such claim, remedy or
right arises in equity or under contract, statute or common law, including, without limitation, the
right to take or receive from the Issuer, directly or indirectly, in cash or other property or by
set-off or in any other manner, payment or security on account of such claim, remedy or right. If
any amount shall be paid to the Guarantor in violation of the preceding sentence at any time prior
to the cash payment in full of the Obligations and all other amounts payable under this Guarantee,
such amount shall be held in trust for the benefit of the Trustee and the Holders of any 2041
Senior Notes and shall forthwith be paid to the Trustee, to be credited and applied to the
Obligations and all other amounts payable under this Guarantee, whether matured or unmatured, in
accordance with the terms of the Indenture and this Guarantee, or be held as collateral for any
Obligations or other amounts payable under this Guarantee thereafter arising. The Guarantor
acknowledges that it will receive direct and indirect benefits from the financing arrangements
contemplated by the Indenture and this Guarantee and that the waiver set forth in this Section 4 is
knowingly made in contemplation of such benefits.

     SECTION 5. No Waiver; Remedies. No failure on the part of the Trustee or any Holder
of the 2041 Senior Notes to exercise, and no delay in exercising, any right hereunder shall operate
as a waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any
other or further exercise thereof or the exercise of any other right. The remedies herein provided
are cumulative and not exclusive of any remedies provided by law.

     SECTION 6. Continuing Guarantee; Transfer of Interest. This Guarantee is a
continuing guarantee and shall (a) remain in full force and effect until the earliest to occur of
(i) the date, if any, on which the Guarantor shall consolidate with or merge into the Issuer or any
successor thereto, (ii) the date, if any, on which the Issuer or any successor thereto shall
consolidate with or merge into the Guarantor, (iii) payment in full of the Obligations, and
(iv) the rating of the Issuer’s long term senior unsecured debt by Standard & Poor’s of A or
higher, (b) be binding upon the Guarantor, its successors and assigns, and (c) inure to the benefit
of and be enforceable by any Holder of 2041 Senior Notes, the Trustee, and by their respective
successors, transferees, and assigns.

     SECTION 7. Reinstatement. This Guarantee shall continue to be effective or be
reinstated, as the case may be, if at any time any payment of any of the Obligations is rescinded
or must otherwise be returned by any Holder of the 2041 Senior Notes or the Trustee upon the
insolvency, bankruptcy or reorganization of the Issuer or otherwise, all as though such payment had
not been made.

     SECTION 8. Amendment. The Guarantor may amend this Guarantee at any time for any
purpose without the consent of the Trustee or any Holder of the 2041 Senior Notes; provided,
however, that if such amendment adversely affects (a) the rights of the Trustee or (b) any Holder
of the 2041 Senior

 

 

Notes, the prior written consent of the Trustee (in the case of (b), acting at
the written direction of the Holders of more than 50% in aggregate principal amount of 2041 Senior
Notes) shall be required.

     SECTION 9. Governing Law. This Guarantee shall be governed by, and construed in
accordance with the laws of the State of New York.

 

 

     IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be duly executed and delivered
by its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 
	 	LORILLARD, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:exv4w2

Exhibit 4.2

REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of July 1, 2011, is
entered into by and between EQUITY LIFESTYLE PROPERTIES, INC., a Maryland corporation formerly
known as Manufactured Home Communities, Inc. (the “Company”), and Hometown America, L.L.C.,
a Delaware limited liability company (the “Investor”).

RECITALS

     WHEREAS, pursuant to a Purchase and Sale Agreement dated May 31, 2011 by and among MHC
Operating Limited Partnership, an Illinois limited partnership (the “Partnership”), the
Investor and certain other entities listed on the signature page thereto, the Company will issue to
the Investor shares of the common stock of the Company, par value $.01 per share (the “Common
Stock”), and shares of Series B Subordinated Non-Voting Cumulative Redeemable Preferred Stock
of the Company, par value $.01 per share (the “Series B Preferred Stock”), which are in
turn exchangeable for either cash or, at the option of the Company, Common Stock; and

     WHEREAS, the Investor is willing to enter into the agreements contained herein as a condition
to the Partnership’s delivery of the Common Stock and the Series B Preferred Stock to the Investor.

     NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

     1. Definitions.

     As used in this Agreement, the following capitalized defined terms shall have the following
meanings:

     “Agreement” shall have the meaning set forth in the preamble.

     “Closing Date” shall mean the first date on which any issuance of shares of Common Stock or
Series B Preferred Stock to the Investor by the Company occurs.

     “Common Stock” shall have the meaning set forth in the preamble.

     “Company” shall have the meaning set forth in the preamble and shall also include the
Company’s successors or other parties who succeed to the Company’s obligations hereunder.

     “Covered Securities” shall have the meaning set forth in Section 4(d) hereof.

     “Cure Date” shall have the meaning set forth in Section 4(d) hereof.

     “Default Date” shall have the meaning set forth in Section 4(d) hereof.

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and any successor
statute thereto, and the rules and regulations of the SEC thereunder, all as the same shall be in
effect at the relevant time.

- 1 -

 

     “Existing Shelf Registration Statement” shall mean the Company’s “automatic registration
statement,” as defined under Rule 405 under the Exchange Act, on Form S-3ASR (No. 333-159014),
including the related base prospectus, covering the registration of shares of preferred stock,
shares of common stock, depositary shares representing preferred stock, warrants and rights under
the Securities Act, and the offer and sale thereof from time to time in accordance with Rule 415
under the Securities Act and all amendments and supplements to such Existing Shelf Registration
Statement, including post-effective amendments, in each case including the Prospectus contained
therein, all exhibits thereto and all material incorporated by reference therein.

     “Holder” shall mean (i) the Investor or (ii) any Person holding Registrable Securities as a
result of a transfer or assignment of Registrable Securities to that Person other than pursuant to
an effective Registration Statement or Rule 144 under the Securities Act, in each case where
securities sold in such transaction may be resold in a public distribution without subsequent
registration under the Securities Act, and together the entities described in clauses (i) and (ii)
hereof shall be “Holders.”

     “Indemnified Party” shall have the meaning set forth in Section 5(c) hereof.

     “Indemnifying Party” shall have the meaning set forth in Section 5(c) hereof.

     “Investor” shall have the meaning set forth in the preamble.

     “New Registration Statement” shall have the meaning set forth in Section 2(b) hereof.

     “Person” shall mean an individual, partnership, corporation, trust, or unincorporated
organization, or government or agency or political subdivision thereof.

     “Prospectus” shall mean any prospectus included in a Registration Statement, including any
preliminary Prospectus, and any such Prospectus as amended or supplemented by any prospectus
supplement (including the Selling Stockholder Prospectus Supplement) with respect to the terms of
the offering of any portion of the Registrable Securities covered by a Registration Statement, and
by all other amendments and supplements to such Prospectus, including post-effective amendments,
and in each case including all material incorporated by reference therein.

     “Registrable Securities” shall mean (i) the shares of Common Stock issued by the Company to
the Investor, and (ii) any shares of Common Stock issued by the Company upon redemption of any
shares of Series B Preferred Stock; provided, however, that the securities listed
above shall cease to be Registrable Securities to the extent that (i) a Registration Statement with
respect to such securities shall have been declared effective under the Securities Act and remains
effective as provided herein, (ii) all such securities are eligible for resale in a public
distribution pursuant to Rule 144 without holding periods or volume limitations, or (iii) such
securities have been disposed of pursuant to such Registration Statement.

     “Registration Expenses” shall mean any and all expenses incident to the Company’s performance
of or compliance with this Agreement, including without limitation: (i) all SEC, stock exchange or
Financial Industry Regulatory Authority, Inc. (“FINRA”) registration, listing and filing
fees, (ii) all reasonable fees and expenses incurred in connection with compliance with federal or
state securities or blue sky laws, (iii) all expenses of the Company in preparing or assisting in
preparing, word processing, duplicating, printing, delivering and distributing any Registration
Statement, any Prospectus, any amendments or supplements thereto, certificates and other documents
relating to the performance of and compliance with this Agreement, (iv) all fees and expenses
incurred in connection with the listing of

- 2 -

 

any of the Registrable Securities on any securities exchange or the Nasdaq National Market
pursuant to Section 3(k) hereof, (v) the fees and disbursements of counsel for the Company and of
the independent public accountants of the Company, but excluding underwriting discounts and
commission and transfer taxes, if any, relating to the sale or disposition of Registrable
Securities by a Holder, (vi) Securities Act liability insurance, if the Company so desires, and
(vii) fees and expenses of other Persons reasonably necessary in connection with the registration,
including any experts, transfer agent or registrar, retained by the Company.

     “Registration Statement” shall mean a Registration Statement (including the Existing Shelf
Registration Statement and, if necessary, a New Registration Statement) of the Company which covers
all of the Registrable Securities on an appropriate form under the Securities Act, or any similar
rule that may be adopted by the SEC, and all amendments and supplements to such Registration
Statement, including post-effective amendments, in each case including the Prospectus contained
therein, all exhibits thereto and all material incorporated by reference therein.

     “Sales Notice” shall have the meaning set forth in Section 4(d) hereof.

     “SEC” shall mean the Securities and Exchange Commission or any successor federal agency.

     “Securities Act” shall mean the Securities Act of 1933, as amended, and any successor statute
thereto, and the rules and regulations of the SEC thereunder, all as the same shall be in effect at
the relevant time.

     “Selling Stockholder Prospectus Supplement” shall mean the prospectus supplement to be filed
by the Company under the Existing Shelf Registration Statement in accordance with the provisions of
Rules 430B and 424(b) under the Securities Act relating to the terms of the offering of the
Registrable Securities.

     “Series B Preferred Stock” shall have the meaning set forth in the Recitals.

     “Underwriter” means a securities dealer who purchases any Registrable Securities as principal
and not as part of such dealer’s market-making activities.

     2. Registration Under the Securities Act.

          (a) Filing of Selling Stockholder Resale Prospectus. The Company shall file on the
Closing Date, a Selling Stockholder Prospectus Supplement providing for the resale of the
Registrable Securities of the Holders. The Company agrees to use its best efforts to keep the
Existing Shelf Registration Statement continuously effective until its expiration on May 6, 2012,
or such shorter period which will terminate when all of the Registrable Securities covered by the
Selling Stockholder Resale Prospectus have been sold. If the Existing Shelf Registration Statement
ceases to be effective for any reason, or if the Registration Statement ceases to be an automatic
shelf registration, the Company shall use commercially reasonable efforts to obtain withdrawal of
any order suspending the effectiveness thereof and in any event within 30 days of the cessation of
effectiveness either amend the Registration Statement in a manner reasonably expected to obtain the
withdrawal of the stop order or file a new shelf Registration Statement as provided in Section
2(b). The Company further agrees, if necessary, to supplement or amend the Existing Shelf
Registration Statement if required by the rules, regulations or instructions applicable to the
registration form used by the Company for such Registration Statement or by the Securities Act or
by any other rules and regulations thereunder for shelf registration.

- 3 -

 

          (b) Filing of New Shelf Registration Statement. If, at the time the Existing Shelf
Registration Statement expires, or if at any time the Existing Shelf Registration Statement cannot
be amended to cause the withdrawal of a stop order, Registrable Securities still exist, the Company
agrees to use its best efforts to file a new “shelf” Registration Statement (the “New
Registration Statement”) and a new Selling Stockholder Prospectus Supplement providing for the
sale of the remaining Registrable Securities of the Holders and to use its best efforts to keep
such new shelf Registration Statement continuously effective until such date that is two (2) years
following the Closing Date. The Company further agrees, if necessary, to supplement or amend the
applicable Registration Statement if required by the rules, regulations or instructions applicable
to the registration form used by the Company for such Registration Statement or by the Securities
Act or by any other rules and regulations thereunder for shelf registration.

          (c) Expenses. The Company shall pay all Registration Expenses in connection with any
registration undertaken pursuant to Sections 2(a) and (b) hereof. Each Holder shall pay all
underwriting discounts and commissions and transfer taxes, if any, relating to the sale or
disposition of such Holder’s Registrable Securities pursuant to the Registration Statement.

     3. Registration Procedures.

     In connection with the obligations of the Company with respect to the Selling Stockholder
Prospectus Supplement filed pursuant to Section 2(a) or, if necessary, Section 2(b) hereof and, if
necessary, a Registration Statement filed pursuant to Section 2(b) hereof, the Company shall use
its commercially reasonable efforts to effect or cause to be effected the registration of the
Registrable Securities under the Securities Act to permit the resale of such Registrable Securities
by the Holder in accordance with its intended method or methods of distribution, and the Company
shall:

          (a) prepare and file with the SEC, as specified in Section 2(a) or, if necessary, Section 2(b)
hereof, the Selling Stockholder Prospectus Supplement which, together with the Existing Shelf
Registration Statement or the New Registration Statement, as applicable, shall comply as to form in
all material respects with the requirements of the applicable form and include all financial
statements required by the SEC to be filed therewith, and use its commercially reasonable efforts
to cause such Existing Shelf Registration Statement or the New Registration Statement, as
applicable, to become effective and remain effective in accordance with Section 2 hereof;

          (b) subject to Section 3(j) hereof, prepare and file with the SEC such amendments and
post-effective amendments to each Registration Statement as may be necessary to keep such
Registration Statement effective for the applicable period; cause each such Prospectus to be
supplemented by any required prospectus supplement, and as so supplemented to be filed pursuant to
Rule 424 or any similar rule that may be adopted under the Securities Act; and comply with the
provisions of the Securities Act with respect to the disposition of all securities covered by each
Registration Statement during the applicable period in accordance with the intended method or
methods of distribution by the selling Holder thereof;

          (c) furnish to the Holder of Registrable Securities without charge, as many copies of each
Prospectus, including each summary prospectus or preliminary Prospectus, and any amendment or
supplement thereto and such other documents as such Holder may reasonably request, in order to
facilitate the public sale or other disposition of the Registrable Securities; the Company consents
to the use of any such Prospectus, including each preliminary Prospectus, by the Holder of
Registrable

- 4 -

 

Securities, if any, in connection with the offering and. sale of the Registrable Securities
covered by any such Prospectus;

          (d) use its best efforts to register or qualify, or obtain exemption from registration or
qualification for, all Registrable Securities by the time the applicable Registration Statement is
declared effective by the SEC under all applicable state securities or “blue sky” laws of such
jurisdictions as the Holder of Registrable Securities covered by a Registration Statement shall
reasonably request in writing, keep each such registration or qualification or exemption effective
during the period such Registration Statement is required to be kept effective and do any and all
other acts and things that may be reasonably necessary or advisable to enable such Holder to
consummate the disposition in each such jurisdiction of such Registrable Securities owned by such
Holder; provided, however, that the Company shall not be required to (i) qualify generally to do
business in any jurisdiction or to register as a broker or dealer in such jurisdiction where it
would not otherwise be required to qualify but for this Section 3(d), (ii) subject itself to
taxation in any such jurisdiction, or (iii) submit to the general service of process in any such
jurisdiction;

          (e) notify the Holder of Registrable Securities promptly and, if requested by such Holder,
confirm such advice in writing (i) when a Registration Statement has become effective and when any
post-effective amendments and supplements thereto become effective, (ii) of the issuance by the SEC
or any state securities authority of any stop order suspending the effectiveness of a Registration
Statement or the initiation of any proceedings for that purpose, and (iii) of the happening of any
event during the period a Registration Statement is effective as a result of which such
Registration Statement or the related Prospectus contains any untrue statement of a material fact,
or omits to state any material fact, required to be stated therein or necessary to make the
statements therein not misleading, and (iv) of the Company’s receipt of any notification of the
suspension of the qualification of any Registrable Securities covered by a Registration Statement
for sale in any jurisdiction; in the event the Company shall give notice as to the occurrence of
any event described Sections 3(e)(ii), 3(e)(iii) or 3(e)(iv) hereof, the Company shall extend the
period during which such Registration Statement shall be maintained effective by the number of days
during the period from and including the date of the giving of such notice to the date the Company
delivers notice that disposition may be made;

          (f) furnish to the Holder of Registrable Securities copies of any request by the SEC or any
state securities authority of amendments or supplements to a Registration Statement and Prospectus
or for additional information;

          (g) make every reasonable effort to obtain the withdrawal of any order suspending the
effectiveness of a Registration Statement at the earliest possible moment;

          (h) provide to the Holders, at no cost to such Holders, a copy of each Registration Statement
and any amendment thereto with respect to Registrable Securities, each Prospectus contained in such
Registration Statement or post-effective amendment and any amendment or supplement thereto and such
other documents as such Holders may reasonably request in order to facilitate the disposition of
their Registrable Securities covered by such Registration Statement; the Company consents to the
use of each such Prospectus and any supplement thereto by such Holders in connection with the
offering and sale of their Registrable Securities covered by such Registration Statement or any
amendment thereto;

          (i) upon the occurrence of any event contemplated by Section 3(e)(iii) hereof, immediately
notify all Holders of the Registrable Securities affected by such event of such event and prepare
and provide to such Holders a supplement or post-effective amendment to a Registration Statement or
the related Prospectus or any document incorporated therein by reference and file any

- 5 -

 

required document so that, as thereafter delivered to the purchasers of the Registrable
Securities, such Prospectus will not contain any untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading;

          (j) make available for inspection by representatives of the Holder of the Registrable
Securities and any special counsel or accountant retained by such Holders, all financial and other
records, pertinent corporate documents and properties of the Company and, cause the respective
officers, directors and employees of the Company to supply all information reasonably requested by
any such representative, special counsel or accountant in connection with a Registration Statement;
provided, however, that such records, documents or information which the Company determines, in
good faith, to be confidential and notifies such representatives, special counsel or accountants
are confidential shall not be disclosed by the representatives, special counsel or accountants
unless (i) the disclosure of such records, documents or information is necessary to avoid or
correct a misstatement or omission in a Registration Statement, (ii) the release of such records,
documents or information is ordered pursuant to a subpoena or other order from a court of competent
jurisdiction, or (iii) such records, documents or information have been generally made available to
the public;

          (k) use its commercially reasonable efforts (including, without limitation, seeking to cure
any deficiencies (within the Company’s control) cited by such exchange or market in the Company’s
listing application) to list all Registrable Securities on The New York Stock Exchange (unless the
Company qualifies and chooses to list all Registrable Securities on the American Stock Exchange or
The Nasdaq National Market in lieu of the New York Stock Exchange, in which event the Company shall
use its best efforts to list all Registrable Securities on the American Stock Exchange or The
Nasdaq National Market);

          (l) provide a CUSIP number for all Registrable Securities, not later than the effective date
of the Registration Statement;

          (m) use its commercially reasonable efforts to comply with the Securities Act and the Exchange
Act in connection with the offer and sale of the Registrable Securities to be sold pursuant to a
Registration Statement, and, make available to its security holders, as soon as reasonably
practicable, an earnings statement covering at least twelve (12) months which shall satisfy the
provisions of Section 11 (a) of the Securities Act and Rule 158 thereunder;

          (n) provide and cause to be maintained a transfer agent for all Registrable Securities covered
by such Registration Statement from and after a date not later than the effective date of such
Registration Statement; and

          (o) cooperate with the Holders to facilitate the timely preparation and delivery of
certificates representing their Registrable Securities to be sold pursuant to a Registration
Statement and not bearing any Securities Act legend; and enable certificates for such Registrable
Securities be issued for such numbers of shares and registered in such names as such Holders may
reasonably request at least two (2) business days prior to any sale of their Registrable
Securities.

     The Company may require the Holder of Registrable Securities to furnish to the Company such
information regarding the proposed distribution by such Holder of such Registrable Securities as
the Company may from time to time reasonably request in writing in order to comply with all laws,
rules and regulations affecting the Registration Statement.

- 6 -

 

     The Holders agree that, upon receipt of any notice from the Company of the happening of any
event of the kind described in Section 3(e)(iii) hereof, such Holders will immediately discontinue
disposition of Registrable Securities pursuant to a Registration Statement until such Holders’
receipt of the copies of the supplemented or amended Prospectus and, if so directed by the Company,
such Holders will deliver to the Company (at the expense of the Company) all copies in their
possession, other than permanent file copies then in such Holders’ possession, of the Prospectus
covering such Registrable Securities current at the time of receipt of such notice.

     4. Black-Out Period.

          (a) Following the filing of the a Selling Stockholder Prospectus Supplement pursuant to
Section 2(a) or, if necessary, Section 2(b) hereof (and the filings with any state securities
commissions), the Company may direct the Holder to suspend sales of the Registrable Securities for
such times as the Company reasonably may determine is necessary and advisable, including the
following events: (i) an underwritten primary offering by the Company where the Company is advised
by the underwriters for such offering that sale of Registrable Shares under the Registration
Statement would have a material adverse effect on the primary offering, or (ii) pending
negotiations relating to, or consummation of, a transaction or the occurrence of an event (x) that
would require additional disclosure of material information by the Company in the Registration
Statement (or such filings), (y) as to which the Company has a bona fide business purpose for
preserving confidentiality or (z) which renders the Company unable to comply with SEC requirements,
in each case under circumstances that would make it impractical or inadvisable to cause the
Registration Statement (or such filings) to become effective or to promptly amend or supplement the
Registration Statement on a post-effective basis, as applicable.

          (b) In the case of an event which causes the Company to suspend the effectiveness of a
Registration Statement (a “Suspension Event”), the Company may give notice (a
“Suspension Notice”) to the Holder to suspend sales of the Registrable Shares so that the
Company may correct or update the Registration Statement (or such filings); provided,
however, that such suspension shall continue only for so long as the Suspension Event or
its effect is continuing (a “Suspension Period”). The Holder agrees that it will not
effect any sales of the Registrable Shares pursuant to such Registration Statement (or such
filings) at any time after it has received a Suspension Notice from the Company. If so directed by
the Company, the Holder will deliver to the Company all copies of the Prospectus covering the
Registrable Shares held by them at the time of receipt of the Suspension Notice. The Holder may
recommence effecting sales of the Registrable Shares pursuant to the Registration Statement (or
such filings) following further notice to such effect (an “End of Suspension Notice”) from
the Company, which End of Suspension Notice shall be given by the Company promptly following the
conclusion of any Suspension Event and the effectiveness of any required amendment or supplement to
the Registration Statement.

          (c) Notwithstanding the provisions of Sections 4(a) and 4(b) hereof to the contrary: (i) no
Holder shall be subject to the provisions of Sections 4(a) and 4(b) hereof for a period of time in
excess of one hundred twenty (120) days; and (ii) no Suspension Notice may be given more than once
in any twelve (12) month period. Moreover, notwithstanding Sections 2(a) and 2(b) hereof, if the
Company shall give a Suspension Notice pursuant to this Section 4, the Company agrees it shall
extend the period during which the Registration Statement shall be maintained effective pursuant to
this Agreement by the number of days during the period from the date of the giving of the
Suspension Notice to and including the date when the Holders shall have received the End of
Suspension Notice and copies of the supplemented or amended Prospectus necessary to resume sales.

          (d) During any Suspension Period or at any time the Company is in default of its obligations
to register the Registrable Securities pursuant to Section 2 hereof, the Holder may notify the

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Company in writing (a “Sales Notice”) that it desires to sell a specified number of
its Registrable Securities (each a “Covered Security” and, together, the “Covered
Securities”). If the Company fails within 30 days following receipt of such Sales Notice to
deliver the End of Suspension Notice or register the Registrable Securities pursuant to Section 2
hereof, as applicable, the Company shall begin to accrue on the day after such 30th day
a cash payment amount equal to the product of: (i) the 30-day U.S. Treasury rate as reported in the
Wall Street Journal on the 30th day after the Company’s receipt of the Sales Notice (the
“Default Date”), or if such date is not a trading day, the most recent trading day
immediately preceding such date; (ii) the last reported sale price per share of the Common Stock at
the close of trading on the NYSE on the Default Date, or if such date is not a trading day, the
most recent trading day immediately preceding such date; and (iii) the specified number of Covered
Securities as set forth in the Sales Notice. This cash payment amount shall accrue, on a daily
non-compounding basis until but excluding the day the Company delivers an End of Suspension Notice
or complies with Section 2 hereof, as applicable (the “Cure Date”). The cash payment
amount shall be payable two (2) business days after the Cure Date. Notwithstanding the foregoing,
no Sales Notice may be given in respect of Registrable Securities that represent shares of Common
Stock that may be issued in connection with a redemption of the Series B Preferred Stock unless and
until such shares of common stock have been issued in satisfaction of a redemption request by the
Holder in lieu of a cash redemption price. The accrual of the cash payment amount under this
Section 4(d) shall be the Holder’s sole remedy for the Company’s failure to file a Selling
Stockholder Prospectus Supplement or a New Registration Statement, as applicable, pursuant to its
obligations under this Agreement.

     5. Indemnification.

          (a) The Company will indemnify each Holder, each such Holder’s officers and directors, and
each person controlling such Holder within the meaning of Section 15 of the Securities Act, against
all claims, losses, damages, liabilities and expenses (including reasonable legal expenses),
arising out of or based on any untrue statement (or alleged untrue statement) of a material fact
contained in any Registration Statement or prospectus relating to such Holder’s Registrable
Securities, or any amendment or supplement thereto, or based on any omission (or alleged omission)
to state therein a material fact required to be stated therein or necessary to make the statements
therein not misleading; provided however, that the Company will not indemnify and
will not be liable to any Holder in any such case to the extent that any such claim, loss, damage,
liability or expense arises out of or is based on any untrue statement or omission or alleged
untrue statement or omission, made in conformity with and in reliance upon information furnished in
writing to the Company by such Holder or by an underwriter for inclusion therein.

          (b) Each Holder will indemnify the Company, each of its trustees and each of its officers who
signs the Registration Statement, each underwriter, if any, of the Company’s securities covered by
such Registration Statement, and each person who controls the Company or such underwriter within
the meaning of Section 15 of the Securities Act, against all claims, losses, damages, liabilities
and expenses (including reasonable legal fees and expenses) arising out of or based on any untrue
statement (or alleged untrue statement) of a material fact contained in any such Registration
Statement or prospectus, or any amendment or supplement thereto, or based on any omission (or
alleged omission) to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading, in each case to the extent, but only to the extent,
that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made
in such Registration Statement or prospectus, in reliance upon and in conformity with information
furnished in writing to the Company by such Holder for inclusion therein.

- 8 -

 

          (c) Each party entitled to indemnification under this Section 5 (the “Indemnified
Party”) shall give notice to the party required to provide indemnification (the
“Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any
claim as to which indemnity may be sought. However, the failure to so notify the Indemnifying Party
shall not relieve the Indemnifying Party from any liability which it may have to the Indemnified
Party pursuant to the provisions of this Section 5, except to the extent of the actual damages
suffered by such delay in notification. The Indemnifying Party shall assume the defense of such
action, including the employment of counsel, which shall be chosen by the Indemnifying Party and
shall be reasonably satisfactory to the Indemnified Party, and payment of expenses in connection
with such defense. The Indemnified Party shall have the right to employ its own counsel in any
such case, but the legal fees and expenses of such counsel shall be at the expense of the
Indemnified Party unless (i) the employment of such counsel shall have been authorized in writing
by the Indemnifying Party, (ii) the Indemnifying Party shall not have assumed the defense of such
action within a reasonable period of time, or (iii) the Indemnified Party shall have been
reasonably advised by its counsel that there may be defenses available to it or them which are
different from or additional to those available to Indemnifying Party (in which case the
Indemnifying Party shall not have the right to direct the defense of such action on behalf of the
Indemnified Party), in any of which events such fees and expenses shall be borne by the
Indemnifying Party. No Indemnifying Party, in the defense of any such claim or litigation, shall,
except with the consent of each Indemnified Party, consent to the entry of any judgment or enter
into any settlement that does not include as an unconditional term thereof the giving by the
claimant or plaintiff to each such Indemnified Party of a release from all liability in respect to
such claim or litigation.

          (d) If the indemnification provided for in this Section 5 is unavailable to a party that would
have been an Indemnified Party under this Section 5, then each party that would have been an
Indemnifying Party hereunder shall, in lieu of indemnifying such Indemnified Party, contribute to
the amount paid or payable by such Indemnified Party as a result of such claims, losses, damages,
liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the
Indemnifying Party on the one hand and such Indemnified Party on the other in connection with the
statement or omission which resulted in such claims, losses, damages, liabilities and expenses, as
well as any other relevant equitable considerations. The relative fault shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact related to information supplied by the
Indemnifying Party or the Indemnified Party and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. The Company and each
Holder agree that it would not be just and equitable if contribution pursuant to this Section 5
were determined by pro rata allocation or by any other method of allocation that fails to take
account of the equitable considerations referred to above in this Section 5(d). For purposes of
this Section 5(d), each person, if any, who controls the Holder within the meaning of Section 15 of
the Securities Act shall have the same rights to contribution as the Holder and each trust manager
of the Company, each officer of the Company who signed the Registration Statement and each person,
if any, who controls the Company within the meaning of Section 15 of the Securities Act shall have
the same rights to contribution as the Company.

          (e) No person guilty of fraudulent misrepresentation (within the meaning of Section, 11(f) of
the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.

          (f) In no event shall any Holder be liable for any claims, losses, damages, liabilities or
expenses pursuant to this Section 5 in excess of the net proceeds to such Holder for the sale of
such Holder’s Registrable Securities pursuant to a Registration.

- 9 -

 

     6. Miscellaneous.

          (a) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents
to departures from the provisions hereof may not be given without the written consent of the
Company and Holders holding at least 51% of the total then outstanding (i) Registrable Securities
and (ii) Series B Preferred Stock not theretofore exchanged for Common Stock, voting as one class
for the purposes hereof.

          (b) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, registered first-class mail, telex, telecopier, or any
courier guaranteeing overnight delivery (i) if to the Investor, at the address or telecopier number
set forth below its signature hereon, and thereafter at such other address or telecopier number,
notice of which is given in accordance with the provisions of this Section 6(b), (ii) if to an
assignee or transferee of the Investor, to such address or telecopier number such assignee or
transferee shall have provided to the Company, and (iii) if to the Company, at:

c/o Equity Lifestyle Properties, Inc.

Two N. Riverside Plaza, Suite 800

Chicago, IL 60606

Attn: Chief Financial Officer

fax no. (312) 279-1710

with a copy to:

c/o Equity Lifestyle Properties, Inc.

Two N. Riverside Plaza, Suite 800

Chicago, IL 60606

Attn: General Counsel

fax no. (312) 279-1715

and:

Clifford Chance US LLP

31 West 52nd Street

New York, New York 10019

Attn: Larry P. Medvinsky, Esq.

and thereafter at such other address or telecopier number, notice of which is given in accordance
with the provisions of this Section 6(b). All such notices and communications shall be deemed to
have been duly given: at the time delivered by hand, if personally delivered; five (5) business
days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed;
when receipt is acknowledged, if telecopied; and on the next business day if timely delivered to an
air courier guaranteeing overnight delivery.

          (c) Successors. The rights and obligations of any Holder hereunder may be assigned to
any other Holder and to any assignee of the Registrable Securities. This Agreement shall inure to
the benefit of and be binding upon the permitted successors and assigns of the Company and the
Holders.

- 10 -

 

          (d) Counterparts. This Agreement may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same agreement.

          (e) Headings. The headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof.

          (f) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE INTERNAL LAWS OF THE STATE OF MARYLAND, WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAW
PROVISIONS THEREOF. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS
OF THE STATE OF MARYLAND IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT.

          (g) Severability. In the event that any one or more of the provisions contained
herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable,
the validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired thereby.

          (h) Specific Performance. The parties hereto acknowledge that there would be no
adequate remedy at law if any party fails to perform any of its obligations hereunder, and
accordingly agree that each party, in addition to any other remedy to which it may be entitled at
law or in equity, shall be entitled to compel specific performance of the obligations of any other
party under this Agreement to accordance with the terms and conditions of this Agreement in any
court of the United States or any State thereof having jurisdiction.

          (i) Entire Agreement. This Agreement is intended by the parties as a final expression
of their agreement and intended to be a complete and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein. This
Agreement supersedes all prior agreements and understandings between the parties with respect to
the subject matter hereof.

          (j) Attorneys’ Fees. If the Company or any Holder brings an action to enforce its
rights under this Agreement, the prevailing party in the action shall be entitled to recover its
costs and expenses, including without limitation, reasonable attorneys’ fees, incurred in
connection with such action, including any appeal of such action.

          (k) Authority; Binding Effect. Each party hereto represents and warrants that it has
the fall legal right, power and authority to execute this Agreement, that this Agreement has been
duly authorized, executed and delivered on behalf of such party and constitutes a valid and binding
agreement of such party enforceable in accordance with its terms.

          (l) Additional Shares. The parties agree that any Registration Statement may register
shares that are not Registrable Securities but are equity securities of the Company held by others,
or to be issued to others, provided the same shall not limit or affect the Company’s obligations to
Holders with respect to Registrable Securities hereunder.

[SIGNATURE PAGES FOLLOW]

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

	 	 	 	 	 
	 	EQUITY LIFESTYLE PROPERTIES, INC.

 	 
	 	By:  	/s/ Michael B. Berman
 	 
	 	 	Name:  	Michael B. Berman 	 
	 	 	Title:  	Executive Vice President and Chief

Financial Officer 	 
	 

Signature Page to Registration Rights Agreement

 

 

HOMETOWN AMERICA, L.L.C., a Delaware limited

liability company

By: Hometown Residential Manager, L.L.C., a Delaware

limited liability company, its manager

	 	 	 	 	 	 	 

	 

	 	By:
      Name:  
	/s/ Richard G. Cline, Jr.
 

Richard G. Cline, Jr.
	 	 
	 

	 	      Title:
	Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:
	150 North Wacker Drive

Suite 2800

Chicago, IL 60606

Attention: Richard Cline, Jr.	 	 
	 
	 	 	 	 	 	 
	 

	 	Telecopier:
	(312) 604-7501	 	 

with a copy to:

Nancy Nagel, Esq., of counsel

Fox, Hefter, Swibel, Levin & Carroll, LLP

c/o Hometown America

150 N. Wacker Drive, Suite 2800

Chicago, IL 60606

Direct Fax: 801-409-4959

nnagel@hometownamerica.net

Signature Page to Registration Rights Agreement

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