Document:

Exhibit
10.1

    SECURITIES
PURCHASE AGREEMENT

     

    This
Securities Purchase Agreement (this “Agreement”) is dated
as of September 28, 2010, between ProUroCare Medical Inc., a Nevada corporation
(the “Company”), and the
purchaser identified on the signature page hereto (the “Purchaser”).

     

    WHEREAS,
subject to the terms and conditions set forth in this Agreement and pursuant to
Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), and
Rule 506 promulgated thereunder, the Company desires to issue and sell to the
Purchaser, and the Purchaser desires to purchase from the Company, securities of
the Company as more fully described in this Agreement.

     

    NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement,
and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the Company and the Purchaser agree as
follows:

     

    ARTICLE
I.

    DEFINITIONS

     

    1.1           Definitions.  In
addition to the terms defined elsewhere in this Agreement, for all purposes of
this Agreement, the following terms have the meanings set forth in this Section
1.1:

     

    “Acquiring Person”
shall have the meaning ascribed to such term in Section 4.5.

     

    “Action” shall have
the meaning ascribed to such term in Section 3.1(j).

     

    “Affiliate” means any
Person that, directly or indirectly through one or more intermediaries, controls
or is controlled by or is under common control with a Person, as such terms are
used in and construed under Rule 405 under the Securities Act.

     

    “Board of Directors”
means the board of directors of the Company.

     

    “Business Day” means
any day except any Saturday, any Sunday, any day which is a federal legal
holiday in the United States or any day on which banking institutions in the
State of New York are authorized or required by law or other governmental action
to close.

     

    “Closing” means the
Initial Closing and each Subsequent Closing.

     

    “Closing Dates” means
the Initial Closing Date and each Subsequent Closing Date.

     

    “Commission” means the
United States Securities and Exchange Commission.

     

    “Common Stock” means
the common stock of the Company, par value $0.00001 per share, and any other
class of securities into which such securities may hereafter be reclassified or
changed.

    
      
         

      

      
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    “Common Stock
Equivalents” means any securities of the Company or the Subsidiaries
which would entitle the holder thereof to acquire at any time Common Stock,
including, without limitation, any debt, preferred stock, rights, options,
warrants or other instrument that is at any time convertible into or exercisable
or exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.

     

    “Company Counsel”
means Dorsey & Whitney LLP.

     

    “Disclosure Schedules”
shall have the meaning ascribed to such term in Section 3.1.

     

    “Evaluation Date”
shall have the meaning ascribed to such term in Section 3.1(r).

     

    “Exchange Act” means
the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder.

    

    “Exempt Issuance”
means the issuance of (a) shares of Common Stock or options to employees,
officers or directors of the Company pursuant to any stock or option plan duly
adopted for such purpose, by a majority of the non-employee members of the Board
of Directors or a majority of the members of a committee of non-employee
directors established for such purpose, (b) securities upon the exercise or
exchange of or conversion of any Shares issued hereunder and/or other securities
exercisable or exchangeable for or convertible into shares of Common Stock
issued and outstanding on the date of this Agreement, provided that such
securities have not been amended since the date of this Agreement to increase
the number of such securities or to decrease the exercise price, exchange price
or conversion price of such securities, (c) securities to be issued to Artann
Laboratories with respect to existing or  future development or
licensing agreements, (d) securities to be issued as consideration for existing
loans and loan guarantees and renewals thereof or conversions thereof into the
Company’s equity securities, and (e) securities issued pursuant to acquisitions
or strategic transactions approved by a majority of the disinterested directors
of the Company, provided that any such issuance shall only be to a Person (or to
the equityholders of a Person) which is, itself or through its subsidiaries, an
operating company or an owner of an asset in a business synergistic with the
business of the Company and shall provide to the Company additional benefits in
addition to the investment of funds, but shall not include a transaction in
which the Company is issuing securities primarily for the purpose of raising
capital or to an entity whose primary business is investing in
securities.

     

    “Floor” shall mean
$1.25 (as the same may be proportionately adjusted in respect of any stock
split, stock dividend, combination, recapitalization or the like with respect to
the Common Stock).

     

    “GAAP” shall have the
meaning ascribed to such term in Section 3.1(h).

     

    “Indebtedness” shall
have the meaning ascribed to such term in Section 3.1(aa).

    
      
         

      

      
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    “Initial Closing”
means the closing of the purchase and sale of the Common Stock pursuant to
Section 2.1.

     

    “Initial Closing Date”
means the date when all of the Transaction Documents and all other documents
required to be executed and delivered in connection with the Initial Closing
pursuant this Agreement have been executed and delivered by the applicable
parties thereto, and all conditions precedent to the Purchaser’s obligations to
purchase the Shares, and the Company’s obligations to issue and deliver the
Shares, have been satisfied or waived with respect to the Initial
Closing.

     

    “Initial Per Share Purchase
Price” means $0.625.

     

    “Intellectual Property
Rights” shall have the meaning ascribed to such term in Section
3.1(o).

     

    “Legend Removal Date”
shall have the meaning ascribed to such term in Section 4.1(c).

     

    “Liens” means a lien,
charge, security interest, encumbrance, right of first refusal, preemptive right
or other restriction.

     

    “Material Adverse
Effect” shall have the meaning assigned to such term in Section
3.1(b).

     

    “Material Permits”
shall have the meaning ascribed to such term in Section 3.1(m).

     

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

     

    “Proceeding” means an
action, claim, suit, investigation or proceeding (including, without limitation,
an informal investigation or partial proceeding, such as a deposition), whether
commenced or threatened.

     

    “Public Information
Failure” shall have the meaning ascribed to such term in Section
4.2(b).

     

    “Public Information Failure
Payments” shall have the meaning ascribed to such term in Section
4.2(b).

     

    “Purchaser Party”
shall have the meaning ascribed to such term in Section 4.8.

     

    “Required Approvals”
shall have the meaning ascribed to such term in Section 3.1(e).

     

    “Rule 144” means Rule
144 promulgated by the Commission pursuant to the Securities Act, as such rule
may be amended from time to time, or any similar rule or regulation hereafter
adopted by the Commission having substantially the same effect as such
rule.

    
      
         

      

      
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    “Rule 424” means Rule
424 promulgated by the Commission pursuant to the Securities Act, as such rule
may be amended or interpreted from time to time, or any similar rule or
regulation hereafter adopted by the Commission having substantially the same
purpose and effect as such rule.

     

    “SEC Reports” shall
have the meaning ascribed to such term in Section 3.1(h).

     

    “Securities Act” means
the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder.

     

    “Shares” means the
shares of Common Stock issued or issuable to the Purchaser pursuant to this
Agreement (as the same may be proportionately adjusted in respect of any stock
split, stock dividend, combination, recapitalization or the like with respect to
the Common Stock).

     

    “Short Sales” means
all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange
Act (but shall not be deemed to include the location and/or reservation of
borrowable shares of Common Stock). 

     

    “Subscription Amount”
means the aggregate amount to be paid for Shares at a Closing by the Purchaser
in United States dollars and in immediately available funds.

     

    “Subsequent Closing”
means each closing of the purchase and sale of the Common Stock pursuant to
Section 2.2.

     

    “Subsequent Closing
Date” means (i) for the first Subsequent Closing, the Trading Day
mutually agreed to by the parties but no more than thirty (30) days following
the date the Company’s ProUroScan System, a prostate imaging system, is granted
clearance by the U.S. Food and Drug Administration, and (ii) for the following
five (5) Subsequent Closings, the day that is thirty (30) days subsequent to the
previous Subsequent Closing Date (or, if such day is not a Trading Day, then the
first day thereafter that is a Trading Day), or, in each case, such later dates
when all conditions precedent to the Purchaser’s obligations to purchase the
Shares, and the Company’s obligations to issue and deliver the Shares, have been
satisfied or waived with respect to the Subsequent Closing, unless such
Subsequent Closing is cancelled pursuant to Section 2.5 or this Agreement is
earlier terminated pursuant to the terms hereof.

     

    “Subsequent Per Share
Purchase Price” shall be an amount equal to the daily volume weighted
average of actual trading prices (measured in hundredths of cents) of the Common
Stock on the Trading Market for the ten (10) consecutive Trading Days
immediately prior to a Subsequent Closing Date, as reported by Bloomberg
Financial Markets, multiplied by 0.50.

     

    “Subsequent Financing”
means from the date hereof until December 31, 2011, any issuance by the Company
or any of its Subsidiaries of Common Stock or Common Stock Equivalents for cash
consideration, Indebtedness (or a combination of units hereof).

    
      
         

      

      
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    “Subsidiary” means any
subsidiary of the Company as set forth on Schedule 3.1(a) and
shall, where applicable, also include any direct or indirect subsidiary of the
Company formed or acquired after the date hereof.

     

    “Trading Day” means a
day on which the principal Trading Market is open for trading.

     

    “Trading Market” means
any of the following markets or exchanges on which the Common Stock is listed or
quoted for trading on the date in question: the New York Stock Exchange, the
NYSE Amex, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq
Global Select Market or the OTC Bulletin Board (or any successors to any of the
foregoing).

     

    “Transaction
Documents” means this Agreement and all schedules hereto and any other
documents or agreements executed in connection with the transactions
contemplated hereunder.

     

    “Transfer Agent” means
Interwest Transfer Company, Inc., the current transfer agent of the Company,
with a mailing address of 1981 Murray Holladay Road, Suite 100, Salt Lake City,
UT 84117 and a facsimile number of (801) 277-3147, and any successor transfer
agent of the Company.

     

    ARTICLE
II.

    PURCHASE
AND SALE

     

    2.1           Initial Closing.  On
the Initial Closing Date, upon the terms and subject to the conditions set forth
herein, substantially concurrent with the execution and delivery of this
Agreement by the parties hereto, the Company agrees to sell, and the Purchaser
agrees to purchase, 1,400,000 Shares (as the same may be proportionately
adjusted in respect of any stock split, stock dividend, combination,
recapitalization or the like with respect to the Common Stock) at the Initial
Per Share Purchase Price. The Purchaser shall deliver to the Company via wire
transfer or a certified check of immediately available funds equal to the
Subscription Amount for the Initial Closing, and the Company shall deliver to
the Purchaser its Shares, and the Company and the Purchaser shall deliver the
other items set forth in Section 2.3 deliverable at the Initial
Closing.  Upon satisfaction or waiver of the covenants and conditions
set forth in Sections 2.3 and 2.4, the Initial Closing shall occur on the
Initial Closing Date remotely or at such location as the parties shall mutually
agree.

     

    2.2           Subsequent
Closings.

     

    (a)           At
the first Subsequent Closing following the Initial Closing, upon the terms and
subject to the conditions set forth herein (including but not limited to Section
2.5), the Company agrees to sell, and the Purchaser agrees to purchase, $750,000
of Shares at the Subsequent Per Share Purchase Price. The Purchaser shall
deliver to the Company via wire transfer or a certified check of immediately
available funds equal to the Subscription Amount for the first Subsequent
Closing, and the Company shall deliver to the Purchaser the applicable number of
Shares, and the Company and the Purchaser shall deliver the other items set
forth in Section 2.3 deliverable at such first Subsequent
Closing.  Upon satisfaction or waiver of the covenants and conditions
set forth in Sections 2.3 and 2.4, the first Subsequent Closing shall occur on
the first Subsequent Closing Date remotely or at such location as the parties
shall mutually agree.

    
      
         

      

      
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    (b)           For
each Subsequent Closing following the first Subsequent Closing, upon the terms
and subject to the conditions set forth herein (including but not limited to
Section 2.5), the Company agrees to sell, and the Purchaser agrees to purchase,
$300,000 of Shares at the Subsequent Per Share Purchase Price. The Purchaser
shall deliver to the Company via wire transfer or a certified check of
immediately available funds equal to the Subscription Amount for each such
Subsequent Closing, and the Company shall deliver to the Purchaser the
applicable number of Shares, and the Company and the Purchaser shall deliver the
other items set forth in Section 2.3 deliverable at each such Subsequent
Closing.  Upon satisfaction or waiver of the covenants and conditions
set forth in Sections 2.3 and 2.4, each such Subsequent Closing shall occur on
the applicable Subsequent Closing Date remotely or at such location as the
parties shall mutually agree.

     

    2.3           Deliveries.

     

    (a)           On
or prior to each Closing Date, the Company shall deliver or cause to be
delivered to the Purchaser the following:

     

    (i)           solely
on the Initial Closing Date, this Agreement duly executed by the
Company;

     

    (ii)          solely
on the Initial Closing Date, the opinion of Company Counsel, substantially in
the form of Exhibit
B hereto; and

     

    (iii)        an
officer’s certificate of the Company’s Chief Executive Officer or Chief
Financial Officer in substantially the form of Exhibit A attached
hereto; and

     

    (iv)        a
copy of the irrevocable instructions to the Transfer Agent instructing the
Transfer Agent to deliver, on an expedited basis, a certificate evidencing, with
respect to the Initial Closing Date, 1,400,000 Shares and, with respect to each
Subsequent Closing Date, a number of Shares equal to the applicable Subscription
Amount divided by the applicable Subsequent Per Share Purchase Price, in each
case registered in the name of the Purchaser.

     

    (b)           On
or prior to each Closing Date, the Purchaser shall deliver or cause to be
delivered to the Company the following:

     

    (i)          solely
on the Initial Closing Date, this Agreement duly executed by the Purchaser;
and

    
      
         

      

      
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    (ii)           the
applicable Subscription Amount by wire transfer to the account as specified in
writing by the Company, and in each case less the amount due the Purchaser for
reimbursement of its expenses pursuant to Section 5.2 hereof.

     

    2.4           Closing
Conditions.

     

    (a)           The
obligations of the Company hereunder in connection with each Closing are subject
to the following conditions being met:

     

    (i)           the
accuracy on the Closing Date of the representations and warranties of the
Purchaser contained herein (unless as of a specific date therein);

     

    (ii)          all
obligations, covenants and agreements of the Purchaser required to be performed
at or prior to the Closing Date shall have been performed;

     

    (iii)         the
delivery by the Purchaser of the items set forth in Section 2.3(b) of this
Agreement; and

     

    (iv)         with
respect to any Subsequent Closing, the Subsequent Per Share Purchase Price shall
equal or exceed the Floor, as set forth in Section 2.5 of this
Agreement.

     

    (b)           The
obligations of the Purchaser hereunder in connection with each Closing are
subject to the following conditions being met:

     

    (i)           the
accuracy on the Closing Date of the representations and warranties of the
Company contained herein (unless as of a specific date therein);

     

    (ii)          all
obligations, covenants and agreements of the Company required to be performed at
or prior to the Closing Date shall have been performed;

     

    (iii)        the
delivery by the Company of the items set forth in Section 2.3(a) of this
Agreement;

     

    (iv)        with
respect to any Subsequent Closing, the Subsequent Per Share Purchase Price shall
equal or exceed the Floor, as set forth in Section 2.5 of this
Agreement;

     

    (v)         there
shall have been no Material Adverse Effect with respect to the Company since the
date hereof;

     

    (vi)        the
Purchaser shall have completed its due diligence of the Company to its own
satisfaction;

     

    (vii)       the
purchase of Shares at a Subsequent Closing from the Company shall not cause the
Purchaser’s beneficial ownership of the Common Stock, calculated in accordance
with Rule 13d-3 promulgated by the Commission, to exceed 9.9%;
and

    
      
         

      

      
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    (viii)      from
the date hereof to each Closing Date, trading in the Common Stock shall not have
been suspended by the Commission or the Company’s principal Trading Market
(except for any suspension of trading of limited duration agreed to by the
Company, which suspension shall be terminated prior to the Closing), and, at any
time prior to the Closing Date, trading in securities generally as reported by
Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall
not have been established on securities whose trades are reported by such
service, or on any Trading Market, nor shall a banking moratorium have been
declared either by the United States or New York State authorities nor shall
there have occurred any material outbreak or escalation of hostilities or other
national or international calamity of such magnitude in its effect on, or any
material adverse change in, any financial market which, in each case, in the
reasonable judgment of the Purchaser, makes it impracticable or inadvisable to
purchase the Shares at the Closing.

     

    2.5           The Floor; Limitation on
Purchases.

     

    (a)           
In the event that the Subsequent Per Share Purchase Price does not equal or
exceed the Floor, as calculated with respect to any Subsequent Closing Date,
then such Subsequent Closing will not occur.  In each such event,
there will be one fewer Subsequent Closing pursuant to this Agreement and the
amount invested by the Purchaser shall be reduced by the applicable Subscription
Amount for each such Subsequent Closing that does not occur because the Floor
has not been reached.  The failure to have a Subsequent Closing due to
failure to meet the Floor will not impact any other Subsequent
Closings.

     

    (b)           In
no event will any Subsequent Closing occur if, as a result of the Purchaser’s
purchase of Shares at such Subsequent Closing, the Purchaser’s beneficial
ownership of the Common Stock, calculated in accordance with Rule 13d-3
promulgated by the Commission, will exceed 9.9%.  In such event, the
Purchaser will (i) purchase only that number of Shares that will cause its
beneficial ownership, calculated in accordance with Rule 13d-3, to remain below
9.9%, and (ii) use its commercially reasonable best efforts to propose
alternative investment vehicles to fund the Company’s capital
requirements.  Nothing herein shall be deemed to be or construed to
impose any obligation on the part of the Purchaser to make any such alternative
investment.

     

    ARTICLE
III.

    REPRESENTATIONS
AND WARRANTIES

     

    3.1           Representations and
Warranties of the Company. Except as set forth in the SEC Reports or in
the section of the disclosure schedules dated the date hereof and delivered by
the Company to the Purchaser with respect to this Agreement (the “Disclosure
Schedules”) that corresponds to such section of this Section 3.1,
the Company hereby makes the following representations and warranties to the
Purchaser:

    
      
         

      

      
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    (a)           Subsidiaries.  All
of the direct and indirect subsidiaries of the Company are set forth on Schedule
3.1(a).  The Company owns, directly or indirectly, all of the
capital stock or other equity interests of each Subsidiary free and clear of any
Liens, and all of the issued and outstanding shares of capital stock of each
Subsidiary are validly issued and are fully paid, non-assessable and free of
preemptive and similar rights to subscribe for or purchase
securities.  If the Company has no subsidiaries, all other references
to the Subsidiaries or any of them in the Transaction Documents shall be
disregarded.

     

    (b)           Organization and
Qualification.  The Company and each of the Subsidiaries is an
entity duly incorporated or otherwise organized, validly existing and in good
standing under the laws of the jurisdiction of its incorporation or
organization, with the requisite power and authority to own and use its
properties and assets and to carry on its business as currently
conducted.  Neither the Company nor any Subsidiary is in violation nor
default of any of the provisions of its respective certificate or articles of
incorporation, bylaws or other organizational or charter
documents.  Each of the Company and the Subsidiaries is duly qualified
to conduct business and is in good standing as a foreign corporation or other
entity in each jurisdiction in which the nature of the business conducted or
property owned by it makes such qualification necessary, except where the
failure to be so qualified or in good standing, as the case may be, could not
reasonably be expected to have or result in: (i) a material adverse effect on
the legality, validity or enforceability of any Transaction Document, (ii) a
material adverse effect on the results of operations, assets, business or
condition (financial or otherwise) of the Company and the Subsidiaries, taken as
a whole, or (iii) a material adverse effect on the Company’s ability to perform
in any material respect on a timely basis its obligations under any Transaction
Document (any of (i), (ii) or (iii), a “Material Adverse
Effect”) and no Proceeding has been instituted in any such jurisdiction
revoking, limiting or curtailing or seeking to revoke, limit or curtail such
power and authority or qualification.

     

    (c)           Authorization;
Enforcement.  The Company has the requisite corporate power and
authority to enter into and to consummate the transactions contemplated by each
of the Transaction Documents and otherwise to carry out its obligations
hereunder and thereunder.  The execution and delivery of each of the
Transaction Documents by the Company and the consummation by it of the
transactions contemplated hereby and thereby have been duly authorized by all
necessary action on the part of the Company and no further action is required by
the Company, the Board of Directors or the Company’s stockholders in connection
therewith other than in connection with the Required Approvals.  Each
Transaction Document to which it is a party has been (or upon delivery will have
been) duly executed by the Company and, when delivered in accordance with the
terms hereof and thereof, will constitute the valid and binding obligation of
the Company enforceable against the Company in accordance with its terms,
except: (i) as limited by general equitable principles and applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors’ rights generally, (ii) as
limited by laws relating to the availability of specific performance, injunctive
relief or other equitable remedies and (iii) insofar as indemnification and
contribution provisions may be limited by applicable law.

    
      
         

      

      
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    (d)           No
Conflicts.  The execution, delivery and performance by the
Company of the Transaction Documents, the issuance and sale of the Shares and
the consummation by it of the transactions contemplated hereby and thereby to
which it is a party do not and will not: (i) conflict with or violate any
provision of the Company’s or any Subsidiary’s certificate or articles of
incorporation, bylaws or other organizational or charter documents, (ii)
conflict with, or constitute a default (or an event that with notice or lapse of
time or both would become a default) under, result in the creation of any Lien
upon any of the properties or assets of the Company or any Subsidiary, or give
to others any rights of termination, amendment, acceleration or cancellation
(with or without notice, lapse of time or both) of, any agreement, credit
facility, debt or other instrument (evidencing a Company or Subsidiary debt or
otherwise) or other understanding to which the Company or any Subsidiary is a
party or by which any property or asset of the Company or any Subsidiary is
bound or affected, or (iii) subject to the Required Approvals, conflict with or
result in a violation of any law, rule, regulation, order, judgment, injunction,
decree or other restriction of any court or governmental authority to which the
Company or a Subsidiary is subject (including federal and state securities laws
and regulations), or by which any property or asset of the Company or a
Subsidiary is bound or affected; except in the case of each of clauses (ii) and
(iii), such as could not reasonably be expected to have or result in a Material
Adverse Effect.

     

    (e)           Filings, Consents and
Approvals.  The Company is not required to obtain any consent,
waiver, authorization or order of, give any notice to, or make any filing or
registration with, any court or other federal, state, local or other
governmental authority or other Person in connection with the execution,
delivery and performance by the Company of the Transaction Documents, other
than: (i) the filings required pursuant to Section 4.4 of this Agreement, and
(ii) the filing of Form D with the Commission and such filings as are required
to be made under applicable state securities laws (collectively, the “Required
Approvals”).

     

    (f)           Issuance of the
Shares.  The Shares are duly authorized and, when issued and
paid for in accordance with the applicable Transaction Documents, will be duly
and validly issued, fully paid and nonassessable, free and clear of all Liens
imposed by the Company other than restrictions on transfer provided for in the
Transaction Documents.

    
      
         

      

      
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    (g)           Capitalization.  The
capitalization of the Company is as set forth on Schedule 3.1(g),
which Schedule
3.1(g) shall also include the number of shares of Common Stock owned
beneficially, and of record, by Affiliates of the Company as of the date
hereof.  The Company has not issued any capital stock since its most
recently filed periodic report under the Exchange Act, other than pursuant to
the exercise of employee stock options under the Company’s stock option plans,
the issuance of shares of Common Stock to employees pursuant to the Company’s
employee stock purchase plans and pursuant to the conversion and/or exercise of
Common Stock Equivalents outstanding as of the date of the most recently filed
periodic report under the Exchange Act.  No Person has any right of
first refusal, preemptive right, right of participation, or any similar right to
participate in the transactions contemplated by the Transaction
Documents.  Except as a result of the purchase and sale of the Shares,
there are no outstanding options, warrants, scrip rights to subscribe to, calls
or commitments of any character whatsoever relating to, or securities, rights or
obligations convertible into or exercisable or exchangeable for, or giving any
Person any right to subscribe for or acquire any shares of Common Stock, or
contracts, commitments, understandings or arrangements by which the Company or
any Subsidiary is or may become bound to issue additional shares of Common Stock
or Common Stock Equivalents.  The issuance and sale of the Shares will
not obligate the Company to issue shares of Common Stock or other securities to
any Person (other than the Purchaser) and will not result in a right of any
holder of Company securities to adjust the exercise, conversion, exchange or
reset price under any of such securities.  All of the outstanding
shares of capital stock of the Company are validly issued, fully paid and
nonassessable, have been issued in compliance with all federal and state
securities laws, and none of such outstanding shares was issued in violation of
any preemptive rights or similar rights to subscribe for or purchase
securities.  No further approval or authorization of any stockholder,
the Board of Directors or others is required for the issuance and sale of the
Shares.  There are no stockholders agreements, voting agreements or
other similar agreements with respect to the Company’s capital stock to which
the Company is a party or, to the knowledge of the Company, between or among any
of the Company’s stockholders.

     

    (h)          SEC Reports; Financial
Statements.  The Company has filed all reports, schedules,
forms, statements and other documents required to be filed by the Company under
the Securities Act and the Exchange Act, including pursuant to Section 13(a) or
15(d) thereof, for the two years preceding the date hereof (or such shorter
period as the Company was required by law or regulation to file such material)
(the foregoing materials, including the exhibits thereto and documents
incorporated by reference therein, being collectively referred to herein as the
“SEC Reports”)
on a timely basis or has received a valid extension of such time of filing and
has filed any such SEC Reports prior to the expiration of any such
extension.  As of their respective dates, the SEC Reports complied in
all material respects with the requirements of the Securities Act and the
Exchange Act, as applicable, and none of the SEC Reports, when filed, contained
any untrue statement of a material fact or omitted to state a material fact
required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not
misleading.  The Company has never been an issuer subject to Rule
144(i) under the Securities Act.  The financial statements of the
Company included in the SEC Reports comply in all material respects with
applicable accounting requirements and the rules and regulations of the
Commission with respect thereto as in effect at the time of
filing.  Such financial statements have been prepared in accordance
with United States generally accepted accounting principles applied on a
consistent basis during the periods involved (“GAAP”), except as may
be otherwise specified in such financial statements or the notes thereto and
except that unaudited financial statements may not contain all footnotes
required by GAAP, and fairly present in all material respects the financial
position of the Company and its consolidated Subsidiaries as of and for the
dates thereof and the results of operations and cash flows for the periods then
ended, subject, in the case of unaudited statements, to normal, immaterial,
year-end audit adjustments.

    
      
         

      

      
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    (i)           Material Changes;
Undisclosed Events, Liabilities or Developments.  Since the
date of the latest audited financial statements included within the SEC Reports,
except as specifically disclosed in a subsequent SEC Report filed prior to the
date hereof or the date of a Subsequent Closing, as applicable: (i) there has
been no event, occurrence or development that has had or that could reasonably
be expected to result in a Material Adverse Effect, (ii) the Company has not
incurred any liabilities (contingent or otherwise) other than (A) trade payables
and accrued expenses incurred in the ordinary course of business consistent with
past practice and (B) liabilities not required to be reflected in the Company’s
financial statements pursuant to GAAP or disclosed in filings made with the
Commission, (iii) the Company has not altered its method of accounting, (iv) the
Company has not declared or made any dividend or distribution of cash or other
property to its stockholders or purchased, redeemed or made any agreements to
purchase or redeem any shares of its capital stock and (v) the Company has not
issued any equity securities to any officer, director or Affiliate, except
pursuant to existing Company stock option plans.  The Company does not
have pending before the Commission any request for confidential treatment of
information.  Except for the issuance of the Shares contemplated by
this Agreement or as set forth on Schedule 3.1(i), no
event, liability, fact, circumstance, occurrence or development has occurred or
exists, or is reasonably expected to occur or exist, with respect to the Company
or its Subsidiaries or their respective business, properties, operations, assets
or financial condition, that would be required to be disclosed by the Company
under applicable securities laws at the time this representation is made or
deemed made that has not been publicly disclosed at least 1 Trading Day prior to
the date that this representation is made or deemed made.

     

    (j)           Litigation.  There
is no action, suit, inquiry, notice of violation, proceeding or investigation
pending or, to the knowledge of the Company, threatened against or affecting the
Company, any Subsidiary or any of their respective properties before or by any
court, arbitrator, governmental or administrative agency or regulatory authority
(federal, state, county, local or foreign) (collectively, an “Action”) which (i)
adversely affects or challenges the legality, validity or enforceability of any
of the Transaction Documents or the Shares or (ii) could, if there were an
unfavorable decision, reasonably be expected to have or result in a Material
Adverse Effect.  Neither the Company nor any Subsidiary, nor any
director or officer thereof, is or has been the subject of any Action involving
a claim of violation of or liability under federal or state securities laws or a
claim of breach of fiduciary duty.  There has not been, and to the
knowledge of the Company, there is not pending or contemplated, any
investigation by the Commission involving the Company or any current or former
director or officer of the Company.  The Commission has not issued any
stop order or other order suspending the effectiveness of any registration
statement filed by the Company or any Subsidiary under the Exchange Act or the
Securities Act.

    
      
         

      

      
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    (k)           Labor
Relations.  No material labor dispute exists or, to the
knowledge of the Company, is imminent with respect to any of the employees of
the Company, which could reasonably be expected to result in a Material Adverse
Effect.  None of the Company’s or its Subsidiaries’ employees is a
member of a union that relates to such employee’s relationship with the Company
or such Subsidiary, and neither the Company nor any of its Subsidiaries is a
party to a collective bargaining agreement, and the Company and its Subsidiaries
believe that their relationships with their employees are good.  No
executive officer, to the knowledge of the Company, is, or is now expected to
be, in violation of any material term of any employment contract,
confidentiality, disclosure or proprietary information agreement or
non-competition agreement, or any other contract or agreement or any restrictive
covenant in favor of any third party, and the continued employment of each such
executive officer does not subject the Company or any of its Subsidiaries to any
liability with respect to any of the foregoing matters.  The Company
and its Subsidiaries are in compliance with all U.S. federal, state, local and
foreign laws and regulations relating to employment and employment practices,
terms and conditions of employment and wages and hours, except where the failure
to be in compliance could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect.

     

    (l)           Compliance.  Neither
the Company nor any Subsidiary: (i) is in default under or in violation of (and
no event has occurred that has not been waived that, with notice or lapse of
time or both, would result in a default by the Company or any Subsidiary under),
nor has the Company or any Subsidiary received notice of a claim that it is in
default under or that it is in violation of, any indenture, loan or credit
agreement or any other agreement or instrument to which it is a party or by
which it or any of its properties is bound (whether or not such default or
violation has been waived), (ii) is in violation of any judgment, decree, or
order of any court, arbitrator or governmental body or (iii) is or has been in
violation of any statute, rule, ordinance or regulation of any governmental
authority, including without limitation all foreign, federal, state and local
laws relating to taxes, environmental protection, occupational health and
safety, product quality and safety and employment and labor matters, except in
each case as could not reasonably be expected to have or result in a Material
Adverse Effect.

     

    (m)           Regulatory
Permits.  The Company and the Subsidiaries possess all
certificates, authorizations and permits issued by the appropriate federal,
state, local or foreign regulatory authorities necessary to conduct their
respective businesses as described in the SEC Reports, except where the failure
to possess such permits could not reasonably be expected to result in a Material
Adverse Effect (“Material Permits”),
and neither the Company nor any Subsidiary has received any notice of
proceedings relating to the revocation or modification of any Material
Permit.

     

    (n)           Title to
Assets.  The Company and the Subsidiaries have good and
marketable title in fee simple to all real property owned by them and good and
marketable title in all personal property owned by them that is material to the
business of the Company and the Subsidiaries, in each case free and clear of all
Liens, except for Liens as do not materially affect the value of such property
and do not materially interfere with the use made and proposed to be made of
such property by the Company and the Subsidiaries and Liens for the payment of
federal, state or other taxes, the payment of which is neither delinquent nor
subject to penalties.  Any real property and facilities held under
lease by the Company and the Subsidiaries are held by them under valid,
subsisting and enforceable leases with which the Company and the Subsidiaries
are in compliance in all material respects.

    
      
         

      

      
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    (o)           Patents and
Trademarks.  The Company and the Subsidiaries have, or have
rights to use, all patents, patent applications, trademarks, trademark
applications, service marks, trade names, trade secrets, inventions, copyrights,
licenses and other intellectual property rights and similar rights as described
in the SEC Reports as necessary or material for use in connection with their
respective businesses and which the failure to so have could have a Material
Adverse Effect (collectively, the “Intellectual Property
Rights”).  None of, and neither the Company nor any Subsidiary
has received a notice (written or otherwise) that any of, the Intellectual
Property Rights has expired, terminated or been abandoned, or is expected to
expire or terminate or be abandoned, within two (2) years from the date of this
Agreement.  Neither the Company nor any Subsidiary has received, since
the date of the latest audited financial statements included within the SEC
Reports, a written notice of a claim or otherwise has any knowledge that the
Intellectual Property Rights violate or infringe upon the rights of any Person,
except as would not have a Material Adverse Effect.  To the knowledge
of the Company, all such Intellectual Property Rights are enforceable and there
is no existing infringement by another Person of any of the Intellectual
Property Rights.  The Company and its Subsidiaries have taken
reasonable security measures to protect the secrecy, confidentiality and value
of all of their intellectual properties, except where failure to do so could
not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

     

    (p)           Insurance.  The
Company and the Subsidiaries are insured by insurers of recognized financial
responsibility against such losses and risks and in such amounts as are prudent
and customary in the businesses in which the Company and the Subsidiaries are
engaged, including, but not limited to, directors and officers insurance
coverage at least equal to the aggregate Subscription Amount from all
Closings.  Neither the Company nor any Subsidiary has any reason to
believe that it will not be able to renew its existing insurance coverage as and
when such coverage expires or to obtain similar coverage from similar insurers
as may be necessary to continue its business without a significant increase in
cost.

     

    (q)           Transactions With Affiliates
and Employees.  Except as set forth in the SEC Reports, none of
the officers or directors of the Company and, to the knowledge of the Company,
none of the employees of the Company is presently a party to any transaction
with the Company or any Subsidiary (other than for services as employees,
officers and directors), including any contract, agreement or other arrangement
providing for the furnishing of services to or by, providing for rental of real
or personal property to or from, or otherwise requiring payments to or from any
officer, director or such employee or, to the knowledge of the Company, any
entity in which any officer, director, or any such employee has a substantial
interest or is an officer, director, trustee or partner, in each case in excess
of $120,000 other than for: (i) payment of salary or consulting fees for
services rendered, (ii) reimbursement for expenses incurred on behalf of the
Company and (iii) other employee benefits, including stock option agreements
under any stock option plan of the Company.

    
      
         

      

      
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    (r)           Sarbanes-Oxley; Internal
Accounting Controls.  The Company is in compliance with any and
all applicable requirements of the Sarbanes-Oxley Act of 2002 that are effective
as of the date hereof, and any and all applicable rules and regulations
promulgated by the Commission thereunder that are effective as of the date
hereof and as of the Closing Date.  The Company and the Subsidiaries
maintain a system of internal accounting controls sufficient to provide
reasonable assurance that: (i) transactions are executed in accordance with
management’s general or specific authorizations, (ii) transactions are recorded
as necessary to permit preparation of financial statements in conformity with
GAAP and to maintain asset accountability, (iii) access to assets is permitted
only in accordance with management’s general or specific authorization, and (iv)
the recorded accountability for assets is compared with the existing assets at
reasonable intervals and appropriate action is taken with respect to any
differences. The Company has established disclosure controls and procedures (as
defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and
designed such disclosure controls and procedures to ensure that information
required to be disclosed by the Company in the reports it files or submits under
the Exchange Act is recorded, processed, summarized and reported, within the
time periods specified in the Commission’s rules and forms.  The
Company’s certifying officers have evaluated the effectiveness of the Company’s
disclosure controls and procedures as of the end of the period covered by the
Company’s most recently filed periodic report under the Exchange Act (such date,
the “Evaluation
Date”).  The Company presented in its most recently filed
periodic report under the Exchange Act the conclusions of the certifying
officers about the effectiveness of the disclosure controls and procedures based
on their evaluations as of the Evaluation Date.  Since the Evaluation
Date, there have been no changes in the Company’s internal control over
financial reporting (as such term is defined in the Exchange Act) that has
materially affected, or is reasonably likely to materially affect, the Company’s
internal control over financial reporting.

     

    (s)           Certain
Fees.  Except for a fee payable to Lane Capital Markets, no
brokerage or finder’s fees or commissions are or will be payable by the Company
to any broker, financial advisor or consultant, finder, placement agent,
investment banker, bank or other Person with respect to the transactions
contemplated by the Transaction Documents.  The Purchaser shall have
no obligation with respect to any fees or with respect to any claims made by or
on behalf of other Persons for fees of a type contemplated in this Section that
may be due in connection with the transactions contemplated by the Transaction
Documents.

     

    (t)           Private Placement.
Assuming the accuracy of the Purchaser’s representations and warranties set
forth in Section 3.2, no registration under the Securities Act is required for
the offer and sale of the Shares by the Company to the Purchaser as contemplated
hereby.  The issuance and sale of the Shares hereunder does not
contravene the rules and regulations of the Trading Market.

     

    (u)           Investment Company.
The Company is not, and is not an Affiliate of, and immediately after receipt of
payment for the Shares, will not be or be an Affiliate of, an “investment
company” within the meaning of the Investment Company Act of 1940, as
amended.  The Company shall conduct its business in a manner so that
it will not become an “investment company” subject to registration under the
Investment Company Act of 1940, as amended.

     

    (v)           Registration
Rights.  No Person has any right to cause the Company to effect
the registration under the Securities Act of any securities of the
Company.

    
      
         

      

      
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    (w)           Listing and Maintenance
Requirements.  The Company has not, in the 12 months preceding
the date hereof, received notice from any Trading Market on which the Common
Stock is or has been listed or quoted to the effect that the Company is not in
compliance with the listing or maintenance requirements of such Trading Market.
The Company is, and has no reason to believe that it will not in the foreseeable
future continue to be, in compliance with all such listing and maintenance
requirements.

     

    (x)           Application of Takeover
Protections.  The Company and the Board of Directors have taken
all necessary action, if any, in order to render inapplicable any control share
acquisition, business combination, poison pill (including any distribution under
a rights agreement) or other similar anti-takeover provision under the Company’s
certificate of incorporation (or similar charter documents) or the laws of its
state of incorporation that is or could become applicable to the Purchaser as a
result of the Purchaser and the Company fulfilling their obligations or
exercising their rights under the Transaction Documents, including without
limitation as a result of the Company’s issuance of the Shares and the
Purchaser’s ownership of the Shares.

     

    (y)           Disclosure.  Except
with respect to the material terms and conditions of the transactions
contemplated by the Transaction Documents, the Company confirms that neither it
nor any other Person acting on its behalf has provided the Purchaser or its
agents or counsel with any information that it believes constitutes or might
constitute material, non-public information.   The Company
understands and confirms that the Purchaser will rely on the foregoing
representation in effecting transactions in securities of the
Company.  All of the disclosure furnished by or on behalf of the
Company to the Purchaser regarding the Company, its business and the
transactions contemplated hereby, including the Disclosure Schedules to this
Agreement, is true and correct and does not contain any untrue statement of a
material fact or omit to state any material fact necessary in order to make the
statements made therein, in light of the circumstances under which they were
made, not misleading. The press releases disseminated by the Company during the
twelve months preceding the date of this Agreement taken as a whole do not
contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made and when made,
not misleading.  The Company acknowledges and agrees that the
Purchaser does not make and has not made any representations or warranties with
respect to the transactions contemplated hereby other than those specifically
set forth in Section 3.2 hereof.

     

    (z)           No Integrated
Offering. Assuming the accuracy of the Purchaser’s representations and
warranties set forth in Section 3.2, neither the Company, nor any of its
Affiliates, nor any Person acting on its or their behalf has, directly or
indirectly, made any offers or sales of any security or solicited any offers to
buy any security, under circumstances that would cause this offering of the
Shares to be integrated with prior offerings by the Company for purposes of (i)
the Securities Act which would require the registration of any such securities
under the Securities Act, or (ii) any applicable shareholder approval provisions
of any Trading Market on which any of the securities of the Company are listed
or designated.

    
      
         

      

      
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    (aa)           Indebtedness.  The
Company has no knowledge of any facts or circumstances that lead it to believe
that it will file for reorganization or liquidation under the bankruptcy or
reorganization laws of any jurisdiction within one year from the Closing
Date.  Schedule 3.1(aa) sets
forth as of the date hereof all outstanding secured and unsecured Indebtedness
of the Company or any Subsidiary, or for which the Company or any Subsidiary has
commitments.  For the purposes of this Agreement, “Indebtedness” means
(x) any liabilities for borrowed money or amounts owed in excess of $50,000
(other than trade accounts payable incurred in the ordinary course of business),
(y) all guaranties, endorsements and other contingent obligations in respect of
indebtedness of others, whether or not the same are or should be reflected in
the Company’s balance sheet (or the notes thereto), except guaranties by
endorsement of negotiable instruments for deposit or collection or similar
transactions in the ordinary course of business; and (z) the present value of
any lease payments in excess of $50,000 due under leases required to be
capitalized in accordance with GAAP.  Neither the Company nor any
Subsidiary is in default with respect to any Indebtedness.

     

    (bb)           Tax
Status.  Except for matters that would not, individually or in
the aggregate, reasonably be expected to have or result in a Material Adverse
Effect, the Company and each Subsidiary (i) has made or filed all United States
federal and state income and all foreign income and franchise tax returns,
reports and declarations required by any jurisdiction to which it is subject,
(ii) has paid all taxes and other governmental assessments and charges that are
material in amount, shown or determined to be due on such returns, reports and
declarations and (iii) has set aside on its books provision reasonably adequate
for the payment of all material taxes for periods subsequent to the periods to
which such returns, reports or declarations apply.  There are no
unpaid taxes in any material amount claimed to be due by the taxing authority of
any jurisdiction, and the officers of the Company or of any Subsidiary know of
no basis for any such claim.

     

    (cc)           No General
Solicitation.  Neither the Company nor any person acting on
behalf of the Company has offered or sold any of the Shares by any form of
general solicitation or general advertising.  The Company has offered
the Shares for sale only to the Purchaser.

     

    (dd)           Foreign Corrupt
Practices.  Neither the Company, nor to the knowledge of the
Company, any agent or other person acting on behalf of the Company, has: (i)
directly or indirectly, used any funds for unlawful contributions, gifts,
entertainment or other unlawful expenses related to foreign or domestic
political activity, (ii) made any unlawful payment to foreign or domestic
government officials or employees or to any foreign or domestic political
parties or campaigns from corporate funds, (iii) failed to disclose fully any
contribution made by the Company (or made by any person acting on its behalf of
which the Company is aware) which is in violation of law or (iv) violated in any
material respect any provision of the Foreign Corrupt Practices Act of 1977, as
amended.

     

    (ee)           Accountants.  The
Company’s accounting firm is Baker Tilly Virchow Krause, LLP.  To the
knowledge and belief of the Company, such accounting firm: (i) is a registered
public accounting firm as required by the Exchange Act and (ii) shall express
its opinion with respect to the financial statements to be included in the
Company’s Annual Report for the year ending December 31, 2010.

    
      
         

      

      
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    (ff)         No Disagreements with
Accountants and Lawyers.  There are no disagreements of any
kind presently existing, or reasonably anticipated by the Company to arise,
between the Company and the accountants and lawyers formerly or presently
employed by the Company and the Company is current with respect to any fees owed
to its accountants and lawyers which could affect the Company’s ability to
perform any of its obligations under any of the Transaction
Documents.

     

    (gg)       
Acknowledgment
Regarding Purchaser’s Purchase of Shares.  The Company
acknowledges and agrees that the Purchaser is acting solely in the capacity of
an arm’s length purchaser with respect to the Transaction Documents and the
transactions contemplated thereby. The Company further acknowledges that the
Purchaser is not acting as a financial advisor or fiduciary of the Company (or
in any similar capacity) with respect to the Transaction Documents and the
transactions contemplated thereby and any advice given by the Purchaser or any
of its representatives or agents in connection with the Transaction Documents
and the transactions contemplated thereby is merely incidental to the
Purchaser’s purchase of the Shares.  The Company further represents to
the Purchaser that the Company’s decision to enter into this Agreement and the
other Transaction Documents has been based solely on the independent evaluation
of the transactions contemplated hereby by the Company and its
representatives.

     

    (hh)        Acknowledgment Regarding
Purchaser’s Trading Activity. Anything in this
Agreement or elsewhere herein to the contrary notwithstanding (except for Sections 3.2(f) and 4.10 hereof), it is
understood and acknowledged by the Company that: (i) the Purchaser has not been asked
by the Company to agree, nor has
the Purchaser agreed, to desist from purchasing or selling,
long and/or short, securities of the Company, or “derivative” securities based
on securities issued by the Company or to hold the Shares for any
specified term, (ii) past or future open market or other transactions
by the Purchaser, specifically including, without limitation,
Short Sales or “derivative” transactions, before or after the closing of this or
future private placement transactions, may negatively impact the market price of
the Company’s publicly-traded
securities, (iii) the Purchaser, and
counter-parties in “derivative” transactions to which the Purchaser is a
party, directly or indirectly, may presently have a “short” position in the
Common Stock and (iv) the
Purchaser shall not be deemed to have any
affiliation with or control over any arm’s length counter-party in any
“derivative” transaction.  The Company further understands and
acknowledges that (y) the Purchaser may engage in hedging activities at various
times during the period that the Shares are outstanding, and (z) such hedging
activities (if any) could reduce the value of the existing stockholders’ equity
interests in the Company at and after the time that the hedging activities are
being conducted.  The Company acknowledges that such aforementioned hedging
activities do not constitute a breach of any of the Transaction
Documents.

     

    
      
        
        

      

      
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    (ii)           Regulation M
Compliance.  The Company has not, and to its knowledge no one acting
on its behalf has, (i) taken, directly or indirectly, any action designed to
cause or to result in the stabilization or manipulation of the price of any
security of the Company to facilitate the sale or resale of any of the Shares,
(ii) sold, bid for, purchased, or paid any compensation for soliciting purchases
of, any of the Shares, or (iii) paid or agreed to pay to any Person any
compensation for soliciting another to purchase any other securities of the
Company, other than, in the case of clauses (ii) and (iii), compensation paid to
the Company’s placement agent in connection with the placement of the
Shares.

     

    (jj)           Stock Option Plans.
Each stock option granted by the Company under the Company’s stock option plan
was granted (i) in accordance with the terms of the Company’s stock option plan
and (ii) with an exercise price at least equal to the fair market value of the
Common Stock on the date such stock option would be considered granted under
GAAP and applicable law.  No stock option granted under the Company’s
stock option plan has been backdated.  The Company has not knowingly
granted, and there is no and has been no Company policy or practice to knowingly
grant, stock options prior to, or otherwise knowingly coordinate the grant of
stock options with, the release or other public announcement of material
information regarding the Company or its Subsidiaries or their financial results
or prospects.

     

    (kk)         Office of Foreign Assets
Control.  Neither the Company nor, to the Company's knowledge,
any director, officer, agent, employee or affiliate of the Company is currently
subject to any U.S. sanctions administered by the Office of Foreign Assets
Control of the U.S. Treasury Department (“OFAC”).

     

    (ll)           U.S. Real Property Holding
Corporation.  The Company is not and has never been a U.S. real
property holding corporation within the meaning of Section 897 of the Internal
Revenue Code of 1986, as amended, and the Company shall so certify upon the
Purchaser’s request.

     

    (mm)       Bank Holding Company
Act.  Neither the Company nor any of its Subsidiaries or
Affiliates is subject to the Bank Holding Company Act of 1956, as amended (the
“BHCA”) and to
regulation by the Board of Governors of the Federal Reserve System (the “Federal
Reserve”).  Neither the Company nor any of its Subsidiaries or
Affiliates owns or controls, directly or indirectly, five percent (5%) or more
of the outstanding shares of any class of voting securities or twenty-five
percent (25%) or more of the total equity of a bank or any entity that is
subject to the BHCA and to regulation by the Federal Reserve.  Neither
the Company nor any of its Subsidiaries or Affiliates exercises a controlling
influence over the management or policies of a bank or any entity that is
subject to the BHCA and to regulation by the Federal Reserve.

     

    (nn)        Money
Laundering.  The operations of the Company are and have been
conducted at all times in compliance with applicable financial record-keeping
and reporting requirements of the Currency and Foreign Transactions Reporting
Act of 1970, as amended, applicable money laundering statutes and applicable
rules and regulations thereunder (collectively, the “Money Laundering
Laws”), and no action, suit or proceeding by or before any court or
governmental agency, authority or body or any arbitrator involving the Company
with respect to the Money Laundering Laws is pending or, to the knowledge of the
Company, threatened.

     

    
      
        
        

      

      
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    3.2          Representations and
Warranties of the Purchaser.  The Purchaser hereby represents
and warrants as of the date hereof and as of the Closing Date to the Company as
follows (unless as of a specific date therein):

     

    (a)           Organization;
Authority. The Purchaser is an entity duly organized, validly existing
and in good standing under the laws of the jurisdiction of its organization with
full right, corporate or partnership power and authority to enter into and to
consummate the transactions contemplated by the Transaction Documents and
otherwise to carry out its obligations hereunder and thereunder. The execution
and delivery of the Transaction Documents and performance by the Purchaser of
the transactions contemplated by the Transaction Documents have been duly
authorized by all necessary corporate, partnership, limited liability company or
similar action, as applicable, on the part of the Purchaser.  Each
Transaction Document to which it is a party has been duly executed by the
Purchaser, and when delivered by the Purchaser in accordance with the terms
hereof, will constitute the valid and legally binding obligation of the
Purchaser, enforceable against it in accordance with its terms, except: (i) as
limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting
enforcement of creditors’ rights generally, (ii) as limited by laws relating to
the availability of specific performance, injunctive relief or other equitable
remedies and (iii) insofar as indemnification and contribution provisions may be
limited by applicable law.

     

    (b)           Own Account. The
Purchaser understands that the Shares are “restricted securities” and have not
been registered under the Securities Act or any applicable state securities law
and is acquiring the Shares as principal for its own account and not with a view
to or for distributing or reselling such Shares or any part thereof in violation
of the Securities Act or any applicable state securities law, has no present
intention of distributing any of such Shares in violation of the Securities Act
or any applicable state securities law and has no direct or indirect arrangement
or understandings with any other persons to distribute or regarding the
distribution of such Shares in violation of the Securities Act or any applicable
state securities law (this representation and warranty not limiting the
Purchaser’s right to sell the Shares in compliance with applicable federal and
state securities laws). The Purchaser is acquiring the Shares hereunder in the
ordinary course of its business.

     

    (c)           Purchaser
Status.  At the time the Purchaser was offered the Shares, it
was, and as of the date hereof it is either: (i) an “accredited investor” as
defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities
Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a) under
the Securities Act. The Purchaser is not required to be registered as a
broker-dealer under Section 15 of the Exchange Act.  The principal
office or residence of the Purchaser is the address set forth on the signature
page attached hereto.

     

    
      
        
        

      

      
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    (d)           Experience of the
Purchaser. The Purchaser, either alone or together with its
representatives, has such knowledge, sophistication and experience in business
and financial matters so as to be capable of evaluating the merits and risks of
the prospective investment in the Shares, and has so evaluated the merits and
risks of such investment. The Purchaser is able to bear the economic risk of an
investment in the Shares and, at the present time, is able to afford a complete
loss of such investment.  The Purchaser has had an opportunity to
consult with legal counsel in connection with the Transaction Documents and the
transactions contemplated thereby.  The Purchaser has also had an
opportunity to review the purchase of the Securities with its financial and tax
advisors and is fully familiar with the financial affairs of the
Company.  The Purchaser has been given the opportunity to obtain any
information it desired about the Company and to ask questions and receive
answers concerning the Company and its business.

     

    (e)           General Solicitation.
The Purchaser is not purchasing the Shares as a result of any advertisement,
article, notice or other communication regarding the Shares published in any
newspaper, magazine or similar media or broadcast over television or radio or
presented at any seminar or any other general solicitation or general
advertisement.

     

    (f)           Certain
Transactions
and Confidentiality.  Other than consummating the transactions
contemplated hereunder, the Purchaser has not directly or indirectly, nor
has any Person acting on behalf of or pursuant to any understanding with the
Purchaser, executed any purchases or sales, including Short Sales, of the
securities of the Company during the period commencing as of the time that the
Purchaser first received a term sheet (written or oral) from the Company or any
other Person representing the Company setting forth the material terms of the
transactions contemplated hereunder and ending immediately prior to the
execution hereof.  Other than to other Persons party to this
Agreement, the Purchaser has maintained the confidentiality of all disclosures
made to it in connection with this transaction (including the existence and
terms of this transaction). Notwithstanding the foregoing, for avoidance of
doubt, nothing contained herein shall constitute a representation or warranty,
or preclude any actions, with respect to the identification of the availability
of, or securing of, available shares to borrow in order to effect Short Sales or
similar transactions in the future.

     

    The
Company acknowledges and agrees that the representations contained in Section
3.2 shall not modify, amend or affect the Purchaser’s right to rely on the
Company’s representations and warranties contained in this Agreement or any
representations and warranties contained in any other Transaction Document or
any other document or instrument executed and/or delivered in connection with
this Agreement or the consummation of the transaction contemplated
hereby.

     

    ARTICLE
IV.

    OTHER
AGREEMENTS OF THE PARTIES

     

    4.1           Transfer
Restrictions.

     

    (a)           The
Shares may only be disposed of in compliance with state and federal securities
laws.  In connection with any transfer of Shares other than pursuant
to an effective registration statement or Rule 144, to the Company or to an
Affiliate of the Purchaser or in connection with a pledge as contemplated in
Section 4.1(b), the Company may require the transferor thereof to provide to the
Company an opinion of counsel selected by the transferor and reasonably
acceptable to the Company, the form and substance of which opinion shall be
reasonably satisfactory to the Company, to the effect that such transfer does
not require registration of such transferred Shares under the Securities
Act.  As a condition of transfer, any such transferee shall agree in
writing to be bound by the terms of this Agreement and shall have the rights and
obligations of the Purchaser under this Agreement.

     

    
      
        
        

      

      
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    (b)           The
Purchaser agrees to the imprinting, so long as is required by this Section 4.1,
of a legend on any of the Shares in the following form:

     

    THIS
SECURITY HAS NOT BEEN  REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO
AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO
THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
ACCEPTABLE TO THE COMPANY.  THIS SECURITY MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN
WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE
501(a) UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH
SECURITIES.

     

    The
Company acknowledges and agrees that the Purchaser may from time to time pledge
pursuant to a bona fide margin agreement with a registered broker-dealer or
grant a security interest in some or all of the Shares to a financial
institution that is an “accredited investor” as defined in Rule 501(a) under the
Securities Act and that agrees to be bound by the provisions of this Agreement
and, if required under the terms of such arrangement, the Purchaser may transfer
pledged or secured Shares to the pledgees or secured parties.  Such a
pledge or transfer would not be subject to approval of the Company and no legal
opinion of legal counsel of the pledgee, secured party or pledgor shall be
required in connection therewith.  Further, no notice shall be
required of such pledge.  At the Purchaser’s expense, the Company will
execute and deliver such reasonable documentation as a pledgee or secured party
of Shares may reasonably request in connection with a pledge or transfer of the
Shares, including, if the Shares are then registered for resale, the preparation
and filing of any required prospectus supplement under Rule 424(b)(3) under the
Securities Act or other applicable provision of the Securities Act to
appropriately amend the list of selling stockholders.

     

    
      
        
        

      

      
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    (c)           Certificates
evidencing the Shares shall not contain any legend (including the legend set
forth in Section 4.1(b) hereof), (i) while a registration statement covering the
resale of such security is effective under the Securities Act, (ii) following
any sale of such Shares pursuant to Rule 144, (iii) if such Shares are eligible
for sale under Rule 144, without the requirement for the Company to be in
compliance with the current public information required under Rule 144 as to
such Shares and without volume or manner-of-sale restrictions, or (iv) if such
legend is not required under applicable requirements of the Securities Act
(including judicial interpretations and pronouncements issued by the staff of
the Commission).  From and after six (6) months from the Closing Date,
unless the Purchaser is then an Affiliate of the Company, the Company shall
cause its counsel to issue a legal opinion to the Transfer Agent if required by
the Transfer Agent to effect the removal of the legend hereunder.  The
Company agrees that following the time as such legend is no longer required
under this Section 4.1(c), it will, no later than three Trading Days following
the delivery by the Purchaser to the Company or the Transfer Agent of a
certificate representing Shares issued with a restrictive legend (such third
Trading Day, the “Legend Removal
Date”), deliver or cause to be delivered to the Purchaser a certificate
representing such shares that is free from all restrictive and other
legends.  The Company may not make any notation on its records or give
instructions to the Transfer Agent that enlarge the restrictions on transfer set
forth in this Section 4.  Certificates for Shares subject to legend
removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by
crediting the account of the Purchaser’s prime broker with the Depository Trust
Company System as directed by the Purchaser.

    

    (d)           In
addition to the Purchaser’s other available remedies, the Company shall pay to
the Purchaser, in cash, as partial liquidated damages and not as a penalty, for
each $1,000 of Shares (based on the VWAP of the Common Stock on the date such
Shares are submitted to the Transfer Agent) delivered for removal of the
restrictive legend and subject to Section 4.1(c), $10 per Trading Day
(increasing to $20 per Trading Day five (5) Trading Days after such damages have
begun to accrue) for each Trading Day after the Legend Removal Date until such
certificate is delivered without a legend. Nothing herein shall limit the
Purchaser’s right to pursue actual damages for the Company’s failure to deliver
certificates representing any Shares as required by the Transaction Documents,
and the Purchaser shall have the right to pursue all remedies available to it at
law or in equity including, without limitation, a decree of specific performance
and/or injunctive relief.

     

    (e)           The
Purchaser agrees with the Company that the Purchaser will sell any Shares
pursuant to either the registration requirements of the Securities Act,
including any applicable prospectus delivery requirements, or an exemption
therefrom, and that if Shares are sold pursuant to a registration statement,
they will be sold in compliance with the plan of distribution set forth therein,
and acknowledges that the removal of the restrictive legend from certificates
representing Shares as set forth in this Section 4.1 is predicated upon the
Company’s reliance upon this understanding.

     

    4.2           Furnishing of
Information;
Public Information.

     

    (a)           For
a period of one year from the Closing Date, the Company covenants to timely file
(or obtain extensions in respect thereof and file within the applicable grace
period) all reports required to be filed by the Company after the date hereof
pursuant to Section 15(d) of the Exchange Act even if the Company is not then
subject to the reporting requirements of the Exchange Act.  As long as
the Purchaser owns Shares, if the Company is not required to file reports
pursuant to the Exchange Act, it will prepare and furnish to the Purchaser and
make publicly available in accordance with Rule 144(c) such information as is
required for the Purchaser to sell the Shares, including without limitation,
under Rule 144. The Company further covenants that it will take such further
action as any holder of Shares may reasonably request, to the extent required
from time to time to enable such Person to sell such Shares without registration
under the Securities Act, including without limitation, within the requirements
of the exemption provided by Rule 144.

     

    
      
        
        

      

      
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    (b)           At
any time during the period commencing on the Closing Date and ending at such
time that all of the Shares may be sold without the requirement for the Company
to be in compliance with Rule 144(c)(1) and otherwise without restriction or
limitation pursuant to Rule 144, if the Company shall fail for any reason to
satisfy the current public information requirement under Rule 144(c) (a “Public Information
Failure”) then, in addition to the Purchaser’s other available remedies,
the Company shall pay to the Purchaser, in cash, as liquidated damages and not
as a penalty, by reason of any such delay in or reduction of its ability to sell
the Shares, an amount in cash equal to $10,000 per Business Day, up to an
aggregate maximum of $100,000, for each Business Day or part thereof during
which a Public Information Failure is in effect. The payments to which the
Purchaser shall be entitled pursuant to this Section 4.2(b) are referred to
herein as “Public
Information Failure Payments.”  Public Information Failure Payments shall be paid
within five (5) Business Days of the occurrence of the Public Information
Failure.  In the event the Company fails to make Public Information
Failure Payments in
a timely manner, such Public Information Failure Payments shall bear
interest at the rate of 1.5% per month (prorated for partial months) until paid
in full. Nothing herein shall limit the Purchaser’s right to pursue actual
damages for the Public Information Failure, and the Purchaser shall have the
right to pursue all remedies available to it at law or in equity including,
without limitation, a decree of specific performance and/or injunctive
relief.

     

    4.3           Integration.  The
Company shall not sell, offer for sale or solicit offers to buy or otherwise
negotiate in respect of any security (as defined in Section 2 of the Securities
Act) that would be integrated with the offer or sale of the Shares in a manner
that would require the registration under the Securities Act of the sale of the
Shares or that would be integrated with the offer or sale of the Shares for
purposes of the rules and regulations of any Trading Market such that it would
require shareholder approval prior to the closing of such other transaction
unless shareholder approval is obtained before the closing of such subsequent
transaction.

     

    4.4           Securities Laws Disclosure;
Publicity.  The Company shall timely file a Current Report
on Form 8-K and press release disclosing the material terms of the transactions
contemplated hereby, and including the Transaction Documents as exhibits
thereto.  From and after the issuance of such press release, the
Company shall have publicly disclosed all material, non-public information
delivered to the Purchaser by the Company or any of its Subsidiaries, or any of
their respective officers, directors, employees or agents in connection with the
transactions contemplated by the Transaction Documents.  The Company
and the Purchaser shall consult with each other in issuing any other press
releases with respect to the transactions contemplated hereby, and neither the
Company nor the Purchaser shall issue any such press release nor otherwise make
any such public statement without the prior consent of the Company, with respect
to any press release of the Purchaser, or without the prior consent of the
Purchaser, with respect to any press release of the Company, which consent shall
not unreasonably be withheld or delayed, except if such disclosure is required
by law, in which case the disclosing party shall promptly provide the other
party with prior notice of such public statement or
communication.  Notwithstanding the foregoing, the Company shall not
publicly disclose the name of the Purchaser, or include the name of the
Purchaser in any filing with the Commission or any regulatory agency or Trading
Market, without the prior written consent of the Purchaser, except: (a) as
required by federal securities law in connection with (i) any registration
statement contemplated by Section 4.15 and (ii) the filing of final Transaction
Documents (including signature pages thereto) with the Commission and (b) to the
extent such disclosure is required by law or Trading Market regulations, in
which case the Company shall provide the Purchaser with prior notice of such
disclosure permitted under this clause (b).

     

    
      
        
        

      

      
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    4.5           Shareholder Rights
Plan.  No claim will be made or enforced by the Company or,
with the consent of the Company, any other Person, that the Purchaser is an
“Acquiring Person” under any control share acquisition, business combination,
poison pill (including any distribution under a rights agreement) or similar
anti-takeover plan or arrangement in effect or hereafter adopted by the Company,
or that the Purchaser could be deemed to trigger the provisions of any such plan
or arrangement, by virtue of receiving Shares under the Transaction Documents or
under any other agreement between the Company and the Purchaser.

     

    4.6           Non-Public
Information.  Except with respect to the material terms and
conditions of the transactions contemplated by the Transaction Documents, the
Company covenants and agrees that neither it, nor any other Person acting on its
behalf, will provide the Purchaser or its agents or counsel with any information
that the Company believes constitutes material non-public information, unless
prior thereto the Purchaser shall have executed a written agreement with the
Company regarding the confidentiality and use of such
information.  The Company understands and confirms that the Purchaser
shall be relying on the foregoing covenant in effecting transactions in
securities of the Company.

     

    4.7           Use of
Proceeds.  Except as set forth on Schedule 4.7 attached
hereto, the Company shall use the net proceeds from the sale of the Shares
hereunder for working capital and general corporate purposes and shall not use
such proceeds for: (a) the satisfaction of any portion of the Company’s debt
(other than payment of trade payables in the ordinary course of the Company’s
business and prior practices), (b) the redemption of any Common Stock or Common
Stock Equivalents, (c) the settlement of any outstanding litigation or (d) in
violation of the FCPA or OFAC regulations.

     

    
      
        
        

      

      
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    4.8           Indemnification of Purchaser.   Subject
to the provisions of this Section 4.8, the Company will indemnify and hold the
Purchaser and its directors, officers, shareholders, members, partners,
employees and agents (and any other Persons with a functionally equivalent role
of a Person holding such titles notwithstanding a lack of such title or any
other title), each Person who controls the Purchaser (within the meaning of
Section 15 of the Securities Act and Section 20 of the Exchange Act), and the
directors, officers, shareholders, agents, members, partners or employees (and
any other Persons with a functionally equivalent role of a Person holding such
titles notwithstanding a lack of such title or any other title) of such
controlling persons (each, a “Purchaser Party”) harmless from any and all
losses, liabilities, obligations, claims, contingencies, damages, costs and
expenses, including all judgments, amounts paid in settlements, court costs and
reasonable attorneys’ fees and costs of investigation that any Purchaser Party
may suffer or incur as a result of or relating to (a) any breach of any of the
representations, warranties, covenants or agreements made by the Company in this
Agreement or in the other Transaction Documents or (b) any action instituted
against the Purchaser in any capacity, or any of them or their respective
Affiliates, by any stockholder of the Company who is not an Affiliate of the
Purchaser, with respect to any of the transactions contemplated by the
Transaction Documents (unless such action is based upon a breach of the
Purchaser’s representations, warranties or covenants under the Transaction
Documents or any agreements or understandings the Purchaser may have with any
such stockholder or any violations by the Purchaser of state or federal
securities laws or any conduct by the Purchaser which constitutes fraud, gross
negligence, willful misconduct or malfeasance).  If any action shall
be brought against any Purchaser Party in respect of which indemnity may be
sought pursuant to this Agreement, the Purchaser Party shall promptly notify the
Company in writing, and the Company shall have the right to assume the defense
thereof with counsel of its own choosing reasonably acceptable to the Purchaser
Party.  Any Purchaser Party shall have the right to employ separate
counsel in any such action and participate in the defense thereof, but the fees
and expenses of such counsel shall be at the expense of the Purchaser Party
except to the extent that (i) the employment thereof has been specifically
authorized by the Company in writing, (ii) the Company has failed after a
reasonable period of time to assume such defense and to employ counsel or (iii)
in such action there is, in the reasonable opinion of counsel, a material
conflict on any material issue between the position of the Company and the
position of the Purchaser Party, in which case the Company shall be responsible
for the reasonable fees and expenses of no more than one such separate
counsel.  The Company will not be liable to any Purchaser Party under
this Agreement (y) for any settlement by a Purchaser Party effected without the
Company’s prior written consent, which shall not be unreasonably withheld or
delayed; or (z) to the extent, but only to the extent that a loss, claim, damage
or liability is attributable to any Purchaser Party’s breach of any of the
representations, warranties, covenants or agreements made by the Purchaser Party
in this Agreement or in the other Transaction Documents.  The
indemnification required by this Section 4.8 shall be made by periodic payments
of the amount thereof during the course of the investigation or defense, as and
when bills are received or are incurred. The indemnity agreements contained
herein shall be in addition to any cause of action or similar right of any
Purchaser Party against the Company or others, and (y) any liabilities the
Company may be subject to pursuant to law.

     

    4.9           Listing of Common
Stock. The Company hereby agrees to use best efforts to maintain the
listing or quotation of the Common Stock on the Trading Market on which it
is currently listed (or shall use its best efforts to move the listing of the
Common Stock to a larger and more liquid Trading Market), and concurrently with
the Closing, the Company shall apply to list or quote all of the Shares on such
Trading Market and promptly secure the listing of all of the Shares on such
Trading Market. The Company further agrees, if the Company applies to have the
Common Stock traded on any other Trading Market, it will then include in such
application all of the Shares, and will take such other action as is necessary
to cause all of the Shares to be listed or quoted on such other Trading Market
as promptly as possible.  The Company will then take all action
reasonably necessary to continue the listing or quotation and trading of its
Common Stock on a Trading Market and will comply in all respects with the
Company’s reporting, filing and other obligations under the bylaws or rules of
the Trading Market.

     

    
      
        
        

      

      
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    4.10        Certain
Transactions
and Confidentiality. The Purchaser covenants that neither it, nor any
Affiliate acting on its behalf or pursuant to any understanding with it, will
execute any purchases or sales, including Short Sales, of any of the Company’s
securities during the period commencing with the execution of this Agreement and
ending at such time that the transactions contemplated by this Agreement are
first publicly announced pursuant to the initial press release as described in
Section 4.4.  The Purchaser covenants that until such time as the
transactions contemplated by this Agreement are publicly disclosed by the
Company pursuant to the initial press release as described in Section 4.4, the
Purchaser will maintain the confidentiality of the existence and terms of this
transaction and the information included in the Transaction Documents and the
Disclosure Schedules.  Notwithstanding the foregoing, and notwithstanding
anything contained in this Agreement to the contrary, the Company expressly
acknowledges and agrees that (i) the Purchaser makes no representation, warranty
or covenant hereby that it will not engage in effecting transactions in any
securities of the Company after the time that the transactions contemplated by
this Agreement are first publicly announced pursuant to the initial press
release as described in Section 4.4, (ii) the Purchaser shall not be restricted
or prohibited from effecting any transactions in any securities of the Company
in accordance with applicable securities laws from and after the time that the
transactions contemplated by this Agreement are first publicly announced
pursuant to the initial press release as described in Section 4.4 and (iii) the
Purchaser shall have no duty of confidentiality to the Company or its
Subsidiaries after the issuance of the initial press release as described in
Section 4.4, provided, that the
Purchaser will not engage in any Short Sales while it holds any of the
Shares. 

     

    4.11        Form D; Blue Sky
Filings.  The Company agrees to timely file a Form D with
respect to the Shares as required under Regulation D and to provide a copy
thereof, promptly upon request of the Purchaser. The Company shall take such
action as the Company shall reasonably determine is necessary in order to obtain
an exemption for, or to qualify the Shares for, sale to the Purchaser at the
Closing under applicable securities or “Blue Sky” laws of the states of the
United States, and shall provide evidence of such actions promptly upon request
of the Purchaser.

     

    4.12        Capital
Changes.  Until the one year anniversary of the Closing Date,
the Company shall not undertake a reverse or forward stock split or
reclassification of the Common Stock without the prior written consent of the
Purchaser.

     

    
      
        
        

      

      
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    4.13        Per Share Purchase Price
Protection.  From the date hereof until the earlier of December
31, 2011 and the date that the Shares are no longer outstanding, if in
connection with a Subsequent Financing, the Company or any Subsidiary shall
issue any Common Stock or Common Stock Equivalents entitling any person or
entity to acquire shares of Common Stock at an effective price per share less
than the Initial Per Share Purchase Price or Subsequent Per Share Purchase
Price, as applicable, (subject to reverse and forward stock splits and the like)
(the “Discounted
Purchase Price,” as further defined below and such issuance, the “Dilutive Issuance”),
the Company shall issue to the Purchaser that number of additional shares of
Common Stock equal to (a) the Subscription Amount paid by the Purchaser at the
Closing divided by the Discounted Purchase Price, less (b) the Shares issued to
the Purchaser at the Closing pursuant to this Agreement and pursuant to this
Section 4.13.  The term “Discounted Purchase
Price” shall mean the amount actually paid in new cash consideration by
third parties for each share of Common Stock multiplied by a fraction, the
numerator of which is the number of shares of Common Stock issued and
outstanding immediately prior to the Dilutive Issuance plus the number of shares
of Common Stock which the offering price for such Dilutive Issuance would
purchase at the Initial Per Share Purchase Price or Subsequent Per Share
Purchase Price, as applicable, and the denominator of which shall be the sum of
the number of shares of Common Stock issued and outstanding immediately prior to
the Dilutive Issuance plus the number of shares of Common Stock so issued or
issuable in connection with the Dilutive Issuance.  The sale of Common
Stock Equivalents shall be deemed to have occurred at the time of the issuance
of the Common Stock Equivalents and the Discounted Purchase Price covered
thereby shall also include the actual exercise or conversion price thereof at
the time of the conversion or exercise (in addition to the consideration per
share of Common Stock underlying the Common Stock Equivalents received by the
Company upon such sale or issuance of the Common Stock
Equivalents).  If shares are issued for a consideration other than
cash, the per share selling price shall be the fair value of such consideration
as determined in good faith by the Board of Directors.  The Company
shall not refuse to issue to the Purchaser any additional Shares hereunder based
on any claim that the Purchaser or any one associated or affiliated with the
Purchaser has been engaged in any violation of law, agreement or for any other
reason, unless an injunction from a court, on notice, restraining and or
enjoining an issuance hereunder shall have been sought and obtained and the
Company posts a surety bond for the benefit of the Purchaser in the amount of
150% of the market value of such Shares (based on the closing price of the
Common Stock on the date of the event giving rise to the Company’s obligation
hereunder), which is subject to the injunction, which bond shall remain in
effect until the completion of litigation of the dispute and the proceeds of
which shall be payable to the Purchaser to the extent it obtains
judgment.  Nothing herein shall limit the Purchaser’s right to pursue
actual damages for the Company's failure to deliver Shares hereunder and the
Purchaser shall have the right to pursue all remedies available to it at law or
in equity including, without limitation, a decree of specific performance and/or
injunctive relief.  On the date of closing of any transaction pursuant
to which securities are issued for a Discounted Purchase Price, the Company
shall give the Purchaser written notice thereof.  Notwithstanding
anything to the contrary herein, this Section 4.13 shall not apply to an Exempt
Issuance.

     

    4.14        Delivery of Shares After
Closing.  The Company shall deliver, or cause to be delivered,
the respective Shares purchased by the Purchaser to the Purchaser within three
(3) Trading Days of the Closing Date.

     

    4.15        Piggyback Registration
Rights. Subject to the rights described in Schedule 3.1(v), if, at any
time after the Closing Date, the Company shall propose to file with the
Commission a registration statement under the Securities Act other than on Forms
S-4 or S-8 (or any successor to such forms), the Company shall give notice to
the Purchaser and include in such registration statement all or any part of the
Shares that the Purchaser requests to be registered; provided, however, that the
Company shall not be required (i) to include such number of Shares in any such
registration that would require the Company to use Form S-1 instead of Form S-3,
or (ii) to register any Shares pursuant to this Section 4.15 that are eligible
for resale pursuant to Rule 144 under the Securities Act without any requirement
for the Company to maintain current public information and without any
limitation on volume or manner of sale.  The Company shall use best
efforts to cause such registration statement to become effective as soon as
practicable; provided, however, that the
Company shall have the authority in its sole discretion to abandon such
registration at any time before or after its effective date.

     

    
      
        
        

      

      
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    ARTICLE
V.

    MISCELLANEOUS

     

    5.1  Termination. 
This Agreement may be terminated by the Purchaser:

     

    (a)           upon
written notice to the Company, if the Initial Closing has not been consummated
on or before October 2, 2010;
or

     

    (b)           upon
written notice to the Company, if at any time prior to the final Subsequent
Closing the Company consummates a reverse stock split or a financing to which
the Purchaser is not a party;

     

    provided, however, that no such
termination pursuant to this Section 5.1 will affect the right of any party to
sue for any breach by the other party (or parties).

     

    5.2           Fees and Expenses.
 Except as otherwise set forth in this Agreement and as set forth in this
Section 5.2 below, each party shall pay the fees and expenses of its own
advisers, counsel, accountants and other experts, if any, and all other expenses
incurred by such party incident to the negotiation, preparation, execution,
delivery and performance of this Agreement.  The Company shall pay all
stamp and other taxes and duties levied in connection with the delivery of the
Shares.  Notwithstanding the foregoing, at the Initial Closing the
Company shall reimburse the Purchaser for the fees and expenses of its counsel,
White White & Van Etten PC, in an amount equal to $25,000 and at each
Subsequent Closing the Company shall reimburse the Purchaser for the fees and
expenses of its counsel, White White & Van Etten PC, in an amount equal to
$2,500.  Such legal fees may be withheld by the Purchaser from the
Subscription Amount to be paid for the Shares purchased at the Initial Closing
and any Subsequent Closing.

     

    5.3           Entire
Agreement.  The Transaction Documents, together with the
schedules thereto, contain the entire understanding of the parties with respect
to the subject matter hereof and supersede all prior agreements and
understandings, oral or written, with respect to such matters, which the parties
acknowledge have been merged into such documents, exhibits and
schedules.

     

    5.4           Notices.  Any
and all notices or other communications or deliveries required or permitted to
be provided hereunder shall be in writing and shall be deemed given and
effective on the earliest of: (a) the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile number set forth on
the signature pages attached hereto prior to 5:30 p.m. (New York City time) on a
Trading Day, (b) the next Trading Day after the date of transmission, if such
notice or communication is delivered via facsimile at the facsimile number set
forth on the signature pages attached hereto on a day that is not a Trading Day
or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the
second (2nd)
Trading Day following the date of mailing, if sent by U.S. nationally recognized
overnight courier service or (d) upon actual receipt by the party to whom such
notice is required to be given.  The address for such notices and
communications shall be as set forth on the signature pages attached
hereto.

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

     

    5.5           Amendments;
Waivers.  No provision of this Agreement may be waived,
modified, supplemented or amended except in a written instrument signed, in the
case of an amendment, by the Company and the Purchaser or, in the case of a
waiver, by the party against whom enforcement of any such waived provision is
sought.  No waiver of any default with respect to any provision,
condition or requirement of this Agreement shall be deemed to be a continuing
waiver in the future or a waiver of any subsequent default or a waiver of any
other provision, condition or requirement hereof, nor shall any delay or
omission of any party to exercise any right hereunder in any manner impair the
exercise of any such right.

     

    5.6           Headings.  The
headings herein are for convenience only, do not constitute a part of this
Agreement and shall not be deemed to limit or affect any of the provisions
hereof.

     

    5.7           Successors and
Assigns.  This Agreement shall be binding upon and inure to the
benefit of the parties and their successors and permitted
assigns.  The Company may not assign this Agreement or any rights or
obligations hereunder without the prior written consent of the Purchaser (other
than by merger). The Purchaser may assign any or all of its rights under this
Agreement to any Person to whom the Purchaser assigns or transfers any Shares,
provided that
such transferee agrees in writing to be bound, with respect to the transferred
Shares, by the provisions of the Transaction Documents that apply to the
“Purchaser.”

     

    5.8           No Third-Party
Beneficiaries.  This Agreement is intended for the benefit of
the parties hereto and their respective successors and permitted assigns and is
not for the benefit of, nor may any provision hereof be enforced by, any other
Person, except as otherwise set forth in Section 4.8.

     

    5.9           Governing
Law.  All questions concerning the construction, validity,
enforcement and interpretation of the Transaction Documents shall be governed by
and construed and enforced in accordance with the internal laws of the State of
New York, without regard to the principles of conflicts of law
thereof.  Each party agrees that all legal proceedings concerning the
interpretations, enforcement and defense of the transactions contemplated by
this Agreement and any other Transaction Documents (whether brought against a
party hereto or its respective affiliates, directors, officers, shareholders,
employees or agents) shall be commenced exclusively in the state and federal
courts sitting in the City of New York. Each party hereby irrevocably submits to
the exclusive jurisdiction of the state and federal courts sitting in the City
of New York, borough of Manhattan for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or
discussed herein (including with respect to the enforcement of any of the
Transaction Documents), and hereby irrevocably waives, and agrees not to assert
in any suit, action or proceeding, any claim that it is not personally subject
to the jurisdiction of any such court, that such suit, action or proceeding is
improper or is an inconvenient venue for such proceeding.  Each party
hereby irrevocably waives personal service of process and consents to process
being served in any such suit, action or proceeding by mailing a copy thereof
via registered or certified mail or overnight delivery (with evidence of
delivery) to such party at the address in effect for notices to it under this
Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof.  Nothing contained herein shall
be deemed to limit in any way any right to serve process in any other manner
permitted by law.  If either party shall commence an action or
proceeding to enforce any provisions of the Transaction Documents, then in
addition to the obligations of the Company under Section 4.8, the prevailing
party in such action or proceeding shall be reimbursed by the other party for
its reasonable attorneys’ fees and other costs and expenses incurred with the
investigation, preparation and prosecution of such action or
proceeding.

     

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

    

     

    5.10         Survival.  The
representations and warranties contained herein shall survive the Closing and
the delivery of the Shares.

     

    5.11         Execution.  This
Agreement may be executed in two or more counterparts, all of which when taken
together shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each party and delivered to the
other party, it being understood that both parties need not sign the same
counterpart.  In the event that any signature is delivered by
facsimile transmission or by e-mail delivery of a “.pdf” format data file, such
signature shall create a valid and binding obligation of the party executing (or
on whose behalf such signature is executed) with the same force and effect as if
such facsimile or “.pdf” signature page were an original thereof.

     

    5.12         Severability.  If
any term, provision, covenant or restriction of this Agreement is held by a
court of competent jurisdiction to be invalid, illegal, void or unenforceable,
the remainder of the terms, provisions, covenants and restrictions set forth
herein shall remain in full force and effect and shall in no way be affected,
impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same
or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the
intention of the parties that they would have executed the remaining terms,
provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

     

    5.13         Replacement of Shares.  If
any certificate or instrument evidencing any Shares is mutilated, lost, stolen
or destroyed, the Company shall issue or cause to be issued in exchange and
substitution for and upon cancellation thereof (in the case of mutilation), or
in lieu of and substitution therefor, a new certificate or instrument, but only
upon receipt of evidence reasonably satisfactory to the Company of such loss,
theft or destruction.  The applicant for a new certificate or
instrument under such circumstances shall also pay any reasonable third-party
costs (including customary indemnity) associated with the issuance of such
replacement Shares.

     

    5.14         Remedies.  In
addition to being entitled to exercise all rights provided herein or granted by
law, including recovery of damages, each of the Purchaser and the Company will
be entitled to specific performance under the Transaction
Documents.  The parties agree that monetary damages may not be
adequate compensation for any loss incurred by reason of any breach of
obligations contained in the Transaction Documents and hereby agree to waive and
not to assert in any action for specific performance of any such obligation the
defense that a remedy at law would be adequate.

     

    5.15         Payment Set
Aside.  To the extent that the Company makes a payment or
payments to the Purchaser pursuant to any Transaction Document or the Purchaser
enforces or exercises its rights thereunder, and such payment or payments or the
proceeds of such enforcement or exercise or any part thereof are subsequently
invalidated, declared to be fraudulent or preferential, set aside, recovered
from, disgorged by or are required to be refunded, repaid or otherwise restored
to the Company, a trustee, receiver or any other person under any law
(including, without limitation, any bankruptcy law, state or federal law, common
law or equitable cause of action), then to the extent of any such restoration
the obligation or part thereof originally intended to be satisfied shall be
revived and continued in full force and effect as if such payment had not been
made or such enforcement or setoff had not occurred.

     

    
      
        
        

      

      
        31

        
          

        

      

      
        
        

      

    

     

    5.16         Liquidated
Damages.  The Company’s obligations to pay any partial
liquidated damages or other amounts owing under the Transaction Documents is a
continuing obligation of the Company and shall not terminate until all unpaid
partial liquidated damages and other amounts have been paid notwithstanding the
fact that the instrument or security pursuant to which such partial liquidated
damages or other amounts are due and payable shall have been
canceled.

     

    5.17         Saturdays, Sundays,
Holidays, etc.  If the last or appointed day for the taking of any
action or the expiration of any right required or granted herein shall not be a
Business Day, then such action may be taken or such right may be exercised on
the next succeeding Business Day.

     

    5.18         Construction. The
parties agree that each of them and/or their respective counsel has reviewed and
had an opportunity to revise the Transaction Documents and, therefore, the
normal rule of construction to the effect that any ambiguities are to be
resolved against the drafting party shall not be employed in the interpretation
of the Transaction Documents or any amendments hereto. In addition, each
and every reference to share prices and shares of Common Stock in any
Transaction Document shall be subject to adjustment for reverse and forward
stock splits, stock dividends, stock combinations and other similar transactions
of the Common Stock that occur after the date of this Agreement.

     

    5.19         WAIVER OF
JURY TRIAL.  IN ANY
ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY
OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST
EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY,
IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

     

    (Signature
Pages Follow)

     

    
      
        
        

      

      
        32

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the parties hereto have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.

     

    
      
        
          
            
              	
                      ProUroCare
      Medical Inc.

                    	 	
                      Address for Notice:

                    
	 
      	 	 
      
	
                      By:

                    	
                      /s/Richard Carlson

                    	 	
                      6440
      Flying Cloud Drive

                    
	 
      	
                      Name:  Richard
      Carlson

                    	 	
                      Suite
      101

                    
	 
      	
                      Title:    Chief
      Executive Officer

                    	 	
                      Eden
      Prairie, MN 55344

                    
	 
      	 	
                      Attention:  Richard
      Carlson, CEO

                    
	 
      	 	
                      Fax:  952-698-4499

                    
	 
      	 	 
      
	
                      With
      a copy (which shall not constitute notice) to:

                    	 	
                      Dorsey
      & Whitney LLP

                    
	 
      	 	
                      Suite
      1500

                    
	 
      	 	
                      50
      South Sixth Street

                    
	 
      	 	
                      Minneapolis,
      MN  55402

                    
	 
      	 	
                      Attention:  Timothy
      S. Hearn, Esq.

                    
	 
      	 	
                      Fax:  612-340-2868

                    

            

          

        

      

    

    

    
      
        
          
            	
                    Seaside
      88, LP

                  	 	
                    Address for Notice:

                  
	 
      	 	 
      
	
                    By:  Seaside
      88 Advisors, LLC

                  	 	 
      
	 
      	 	
                    750
      Ocean Royale Way

                  
	 
      	 	
                    Suite
      805

                  
	
                    By:

                  	
                    /s/William J. Ritger

                  	 	
                    North
      Palm Beach, FL 33408

                  
	 
      	
                    Name:
      William J. Ritger

                  	 	
                    Attention:  William
      J. Ritger and

                  
	 
      	
                    Title:   Manager

                  	 	
                    Denis
      M. O’Donnell, M.D.

                  
	 
      	 	
                    Fax:  866-358-6721

                  
	 
      	 	 
      
	
                    With
      a copy (which shall not constitute notice) to:

                  	 	
                    White
      White & Van Etten PC

                  
	 
      	 	
                    55
      Cambridge Parkway

                  
	 
      	 	
                    Cambridge,
      MA 02142

                  
	 
      	 	
                    Attention:  David
      A. White, Esq.

                  
	 
      	 	
                    Fax:  617-225-0205

                  

          

        

      

    

     

    
      
        
        

      

      
        33

        
          

        

      

      
        
        

      

    

     

    Exhibit
A

    

    Officer’s
Certificate

    

    In connection with a Closing on the
date set forth below pursuant to that certain Securities Purchase Agreement
dated as of ____________, 2010 (the “Agreement”) by and between ProUroCare
Medical Inc., a Nevada corporation (the “Company”) and Seaside 88, LP, a Florida
limited partnership (“Seaside”), the undersigned, the duly elected and qualified
________________ of the Company, does hereby certify to Seaside as
follows:

    

    
      	
               
      

            	
              (i)

            	
              all
      representations and warranties of the Company contained in the Agreement
      are true and correct on and as of the date hereof as if made on and as of
      the date hereof (provided that
      representations and warranties that speak as of a specific date shall
      continue to be true and correct as of the Closing with respect to such
      date); and

            

    

    

    
      	
               
      

            	
              (ii)

            	
              the
      Company has performed or complied with all of its covenants and agreements
      contained in the Agreement and required to be performed or complied with
      by the Company on or before the date
hereof.

            

    

    

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

    

    IN
WITNESS WHEREOF, the undersigned has caused this Officer’s Certificate to be
executed this _____ day of _____________, 2010.

    

    
      
        
          	 
      	
                  Inc.

                
	 
      	 
      
	 
      	
                  By:

                	 
      
	 
      	 
      	
                  Name:

                
	 
      	 
      	
                  Title:

                

        

      

    

     

    
      
        
        

      

      
        34

        
          

        

      

      
        
        

      

    

     

    Exhibit
B

    

    1.           The
Company is a corporation duly organized under the General Corporation Law of the
State of Nevada, with corporate power and authority to enter into the Agreement
and the other Transaction Documents and perform its obligations thereunder. The
Company is validly existing and in good standing under the laws of the State of
Nevada and is qualified to do business and in good standing under the laws of
____________ and _________, the only states where the failure to be so qualified
and in good standing could have a Material Adverse Effect.

    

    2.           The
execution and delivery of the Agreement and the other Transaction Documents and
the issuance and sale of the Shares thereunder has been duly authorized by all
necessary corporate action of the Company, no further action is required by the
Company or its stockholders in connection therewith; and the Agreement and each
other Transaction Document has been duly executed and delivered by the Company
and is enforceable against the Company in accordance with its
terms.

    

    3.           The
Shares have been duly authorized and, when issued and delivered in accordance
with the terms of the Agreement, will be validly issued, fully paid and
non-assessable, and the issuance of such Shares will not be subject to any
preemptive or similar rights set forth in the Company’s Certificate of
Incorporation or Bylaws (or similar organizational documents) or any agreement
known to us or filed as an exhibit to any SEC Report.

    

    4.           The
execution and delivery by the Company of, and the performance by the Company of
its obligations under, the Agreement (including the issuance and sale of the
Shares) and the other Transaction Documents will not contravene any provision of
any statute, law, rule or regulation applicable to the Company, any agreement
filed as an exhibit to any SEC Report, or any judgment, order or decree of any
governmental body, agency or court having jurisdiction over the Company that is
applicable to the Company or its properties.

    

    5.           No
consent, approval, authorization, order, registration or qualification of or
with any court or arbitrator or governmental body, regulatory authority or
Trading Market is required for the execution, delivery and performance by the
Company of its obligations under the Agreement or any other Transaction
Document, other than any notice filings as are required to be made in connection
with the Closing Date under applicable federal and state securities
laws.

    

    6.           The
Company is not, and will not be after consummation of the Agreement, the sale of
the Shares to the Purchaser and the application of the proceeds thereof, an
“investment company” as defined in the Investment Company Act of 1940, as
amended.

     

    
      
        
        

      

      
        35Indenture

 Exhibit 4.1 

 
  

GRAHAM PACKAGING COMPANY, L.P. 

GPC CAPITAL CORP. I, 

as Issuers 

GRAHAM PACKAGING HOLDINGS COMPANY, 

as Parent Guarantor 

and the Subsidiary Guarantors listed on the Signature Pages hereto 

8.25% Senior Notes due 2018 
  

 
 INDENTURE

 Dated as of September 23, 2010 
  

 
 THE BANK OF NEW
YORK MELLON, 
 as Trustee 
  

 

 TABLE OF CONTENTS 

 

					
	 	 	 	  	Page
	 ARTICLE 1

DEFINITIONS AND INCORPORATION BY REFERENCE

	 Section 1.01.
	 	 Definitions
	  	1
	 Section 1.02.
	 	 Other Definitions
	  	32
	 Section 1.03.
	 	 Incorporation by Reference of Trust Indenture Act
	  	34
	 Section 1.04.
	 	 Rules of Construction
	  	34
	
	 ARTICLE 2

THE NOTES

			
	 Section 2.01.
	 	 Amount of Notes
	  	35
	 Section 2.02.
	 	 Form and Dating
	  	36
	 Section 2.03.
	 	 Execution and Authentication
	  	36
	 Section 2.04.
	 	 Registrar and Paying Agent
	  	37
	 Section 2.05.
	 	 Paying Agent to Hold Money in Trust
	  	37
	 Section 2.06.
	 	 Holder Lists
	  	38
	 Section 2.07.
	 	 Transfer and Exchange
	  	38
	 Section 2.08.
	 	 Replacement Notes
	  	38
	 Section 2.09.
	 	 Outstanding Notes
	  	39
	 Section 2.10.
	 	 Temporary Notes
	  	39
	 Section 2.11.
	 	 Cancellation
	  	40
	 Section 2.12.
	 	 Defaulted Interest
	  	40
	 Section 2.13.
	 	 CUSIP Numbers, ISINs, etc
	  	40
	
	 ARTICLE 3

REDEMPTION

			
	 Section 3.01.
	 	 Optional Redemption
	  	40
	 Section 3.02.
	 	 Redemption with Proceeds of Equity Offerings
	  	41
	 Section 3.03.
	 	 Method and Effect of Redemption
	  	41
	 Section 3.04.
	 	 Deposit of Redemption Price
	  	43
	
	 ARTICLE 4

COVENANTS

			
	 Section 4.01.
	 	 Payment of Notes
	  	43
	 Section 4.02.
	 	 Reports and Other Information
	  	43
	 Section 4.03.
	 	 Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock
	  	44
	 Section 4.04.
	 	 Limitation on Restricted Payments
	  	48
	 Section 4.05.
	 	 Dividend and Other Payment Restrictions Affecting Subsidiaries
	  	55
	 Section 4.06.
	 	 Asset Sales
	  	57
	 Section 4.07.
	 	 Transactions with Affiliates
	  	60

  

 -i- 

					
	 	 	 	  	Page
	 Section 4.08.
	 	 Change of Control
	  	62
	 Section 4.09.
	 	 Compliance Certificate
	  	64
	 Section 4.10.
	 	 Further Instruments and Acts
	  	64
	 Section 4.11.
	 	 Liens
	  	64
	 Section 4.12.
	 	 Maintenance of Office or Agency
	  	64
	 Section 4.13.
	 	 Suspension of Covenants
	  	65
	 Section 4.14.
	 	 Payment for Consent
	  	66
	
	 ARTICLE 5

MERGER, CONSOLIDATION OR SALE OF
ASSETS

			
	 Section 5.01.
	 	 Consolidation, Merger or Sale of Assets of the Company
	  	66
	 Section 5.02.
	 	 Consolidation, Merger or Sale of Assets by a Subsidiary Guarantor
	  	67
	
	 ARTICLE 6

DEFAULTS AND REMEDIES

			
	 Section 6.01.
	 	 Events of Default
	  	68
	 Section 6.02.
	 	 Acceleration
	  	70
	 Section 6.03.
	 	 Other Remedies
	  	71
	 Section 6.04.
	 	 Waiver of Past Defaults
	  	71
	 Section 6.05.
	 	 Control by Majority
	  	71
	 Section 6.06.
	 	 Limitation on Suits
	  	71
	 Section 6.07.
	 	 Rights of the Holders to Receive Payment
	  	72
	 Section 6.08.
	 	 Collection Suit by Trustee
	  	72
	 Section 6.09.
	 	 Trustee May File Proofs of Claim
	  	72
	 Section 6.10.
	 	 Priorities
	  	72
	 Section 6.11.
	 	 Undertaking for Costs
	  	73
	 Section 6.12.
	 	 Waiver of Stay or Extension Laws
	  	73
	
	 ARTICLE 7

TRUSTEE

			
	 Section 7.01.
	 	 Duties of Trustee
	  	73
	 Section 7.02.
	 	 Rights of Trustee
	  	74
	 Section 7.03.
	 	 Individual Rights of Trustee
	  	76
	 Section 7.04.
	 	 Trustee’s Disclaimer
	  	76
	 Section 7.05.
	 	 Notice of Defaults
	  	76
	 Section 7.06.
	 	 Reports by Trustee to the Holders
	  	76
	 Section 7.07.
	 	 Compensation and Indemnity
	  	76
	 Section 7.08.
	 	 Replacement of Trustee
	  	77
	 Section 7.09.
	 	 Successor Trustee by Merger
	  	78
	 Section 7.10.
	 	 Eligibility; Disqualification
	  	78
	 Section 7.11.
	 	 Preferential Collection of Claims Against Issuer
	  	79

  

 -ii- 

					
	 	 	 	  	Page
	
	 ARTICLE 8

DISCHARGE OF INDENTURE; DEFEASANCE

			
	 Section 8.01.
	 	 Discharge of Liability on Notes
	  	79
	 Section 8.02.
	 	 Defeasance
	  	80
	 Section 8.03.
	 	 Conditions to Defeasance
	  	81
	 Section 8.04.
	 	 Application of Trust Money
	  	82
	 Section 8.05.
	 	 Repayment to Issuers
	  	82
	 Section 8.06.
	 	 Indemnity for Government Obligations
	  	82
	 Section 8.07.
	 	 Reinstatement
	  	82
	
	 ARTICLE 9

AMENDMENTS AND WAIVERS

			
	 Section 9.01.
	 	 Without Consent of the Holders
	  	83
	 Section 9.02.
	 	 With Consent of the Holders
	  	83
	 Section 9.03.
	 	 Compliance with Trust Indenture Act
	  	84
	 Section 9.04.
	 	 Revocation and Effect of Consents and Waivers
	  	85
	 Section 9.05.
	 	 Notation on or Exchange of Notes
	  	85
	 Section 9.06.
	 	 Trustee to Sign Amendments
	  	85
	 Section 9.07.
	 	 Additional Voting Terms; Calculation of Principal Amount
	  	85
	
	 ARTICLE 10

GUARANTEES

			
	 Section 10.01.
	 	 Guarantees of the Notes
	  	86
	 Section 10.02.
	 	 Limitation on Liability
	  	88
	 Section 10.03.
	 	 Successors and Assigns
	  	89
	 Section 10.04.
	 	 Evidence of Guarantee
	  	89
	 Section 10.05.
	 	 No Waiver
	  	89
	 Section 10.06.
	 	 Modification
	  	89
	 Section 10.07.
	 	 Execution of Supplemental Indenture for Future Guarantors
	  	89
	
	 ARTICLE 11

MISCELLANEOUS

			
	 Section 11.01.
	 	 Trust Indenture Act Controls
	  	90
	 Section 11.02.
	 	 Notices
	  	90
	 Section 11.03.
	 	 Communication by the Holders with Other Holders
	  	91
	 Section 11.04.
	 	 Certificate and Opinion as to Conditions Precedent
	  	91
	 Section 11.05.
	 	 Statements Required in Certificate or Opinion
	  	91
	 Section 11.06.
	 	 When Notes Disregarded
	  	91
	 Section 11.07.
	 	 Rules by Trustee, Paying Agent and Registrar
	  	92
	 Section 11.08.
	 	 Legal Holidays
	  	92
	 Section 11.09.
	 	 Governing Law
	  	92
	 Section 11.10.
	 	 Jurisdiction; Consent to Service of Process
	  	92
	 Section 11.11.
	 	 No Recourse Against Others
	  	93

  

 -iii- 

					
	 	 	 	  	Page
	 Section 11.12.
	 	 Successors
	  	93
	 Section 11.13.
	 	 Multiple Originals
	  	93
	 Section 11.14.
	 	 Table of Contents; Headings
	  	93
	 Section 11.15.
	 	 Indenture Controls
	  	93
	 Section 11.16.
	 	 Severability
	  	93
	 Section 11.17.
	 	 Waiver of Jury Trial
	  	94
	 Section 11.18.
	 	 Force Majeure
	  	94

  

					
	 Appendix A
	 	–	  	 Provisions Relating to Initial Notes, Additional Notes and Exchange Notes

Annex A 
 EXHIBIT INDEX 

 

					
	 Exhibit A
	 	–	  	 Initial Note

	 Exhibit B
	 	–	  	 Exchange Note

	 Exhibit C
	 	–	  	 Form of Supplemental Indenture

  

 -iv- 

 CROSS-REFERENCE TABLE 

 

			
	 TIA Section
	  	Indenture
Section
	 310(a)(1)
	  	7.10
	       (a)(2)
	  	7.10
	       (a)(3)
	  	N.A.
	       (a)(4)
	  	N.A.
	       (b)
	  	7.08; 7.10
	       (c)
	  	N.A.
	 311(a)
	  	7.11
	       (b)
	  	7.11
	       (c)
	  	N.A.
	 312(a)
	  	2.06
	       (b)
	  	11.03
	       (c)
	  	11.03
	 313(a)
	  	7.06
	       (b)(1)
	  	N.A.
	       (b)(2)
	  	7.06
	       (c)
	  	7.06
	       (d)
	  	7.06
	 314(a)
	  	4.02; 4.09
	       (b)
	  	N.A.
	       (c)(1)
	  	11.04
	       (c)(2)
	  	11.04
	       (c)(3)
	  	N.A.
	       (d)
	  	N.A.
	       (e)
	  	11.05
	       (f)
	  	4.10
	 315(a)
	  	7.01
	       (b)
	  	7.05
	       (c)
	  	7.01
	       (d)
	  	7.01
	       (e)
	  	6.11
	 316(a) (last sentence)
	  	11.06
	       (a)(1)(A)
	  	6.05
	       (a)(1)(B)
	  	6.04
	       (a)(2)
	  	N.A.
	       (b)
	  	6.07
	 317(a)(1)
	  	6.08
	       (a)(2)
	  	6.09
	       (b)
	  	2.05
	 318(b)
	  	11.01

  

N.A. Means Not Applicable. 
  

	Note:	This Cross-Reference Table shall not, for any purposes, be deemed to be part of this Indenture. 

 

 -v- 

 INDENTURE dated as of September 23, 2010 among GRAHAM PACKAGING COMPANY, L.P., a
Delaware limited partnership (the “Company”), GPC CAPITAL CORP. I (the “Corporate Co-Issuer” and, together with the Company, the “Issuers”), the Parent Guarantor (as defined herein), the Subsidiary
Guarantors (as defined herein) and THE BANK OF NEW YORK MELLON, a New York banking corporation, as trustee. 
 Each party agrees
as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of (a) $250,000,000 aggregate principal amount of the Issuers’ 8.25% Senior Notes due 2018 (the “Original Notes”) issued
on the date hereof, (b) any Additional Notes (as defined herein) that may be exchanged for Original Notes or otherwise issued after the date hereof in the form of Exhibit A (all such securities in clauses (a) and (b) being
referred to collectively as the “Initial Notes”), and (c) if and when issued as provided in the Registration Rights Agreement (as defined in Appendix A hereto (the “Appendix”)) or otherwise registered
under the Securities Act (as defined in the Appendix) and issued, the Issuers’ 8.25% Senior Notes due 2018 (the “Exchange Notes” and, together with the Initial Notes, the “Notes”) issued in the Registered
Exchange Offer (as defined in the Appendix) in exchange for any Initial Notes or otherwise registered under the Securities Act and issued in the form of Exhibit B. Subject to the conditions and compliance with the covenants set forth in this
Indenture, the Issuers may issue an unlimited aggregate principal amount of Additional Notes. 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions. 

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

(1) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted
Subsidiary of such specified Person; and 
 (2) Indebtedness secured by an existing Lien encumbering any asset
acquired by such specified Person; 
 but excluding in any event Indebtedness incurred in connection with, or in contemplation of, such other
Person merging with or into, or becoming a Restricted Subsidiary of, such specified Person. 
 “Additional
Interest” has the meaning ascribed to such term in the Registration Rights Agreement. 
 “Additional
Notes” means 8.25% Senior Notes due 2018 issued under the terms of this Indenture subsequent to the Issue Date. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and
“under common control with”), as used with respect to any Person, 

 
shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities,
by agreement or otherwise. 
 “Applicable Premium” means with respect to any Note on the applicable redemption
date, the greater of: 
 (1) 1.0% of the then outstanding principal amount of such Note; and 

(2) the excess of: 

(a) the present value at such redemption date of (i) the redemption price of the Notes at October 1, 2014 as
determined pursuant to Article 3 hereof, plus (ii) all required interest payments due on the Notes through October 1, 2014 (excluding accrued but unpaid interest), computed using a discount rate equal to the Treasury Rate as of such
redemption date plus 50 basis points; over 
 (b) the then outstanding principal amount of such Note. 

“Asset Sale” means: 

(1) the sale, conveyance, transfer or other disposition (whether in a single transaction or a series of related
transactions) of property or assets of the Company or any Restricted Subsidiary (each referred to in this definition as a “disposition”) or 

(2) the issuance or sale of Equity Interests of any Restricted Subsidiary (whether in a single transaction or a series of
related transactions), 
 in each case, other than: 

(a) a disposition of Cash Equivalents, Investment Grade Securities or obsolete or worn out property or equipment in the
ordinary course of business or inventory (or other assets) held for sale in the ordinary course of business; 

(b) the disposition of all or substantially all of the assets of the Company in a manner permitted by Article 5 hereof or
any disposition that constitutes a Change of Control pursuant to this Indenture; 
 (c) the making of any
Restricted Payment or Permitted Investment that is permitted to be made, and is made, pursuant to Section 4.04; 

(d) any disposition of assets or issuance or sale of Equity Interests of any Restricted Subsidiary in any transaction or
series of transactions with an aggregate fair market value of less than $15.0 million; 
 (e) any disposition of
property or assets or issuance of securities by a Restricted Subsidiary to the Company or by the Company or a Restricted Subsidiary to another Restricted Subsidiary; 

 

 -2- 

 (f) the lease, assignment or sublease of any real or personal property in
the ordinary course of business; 
 (g) any sale of Equity Interests in, or Indebtedness or other securities of,
an Unrestricted Subsidiary; 
 (h) sales of assets received by the Company or any Restricted Subsidiary upon
foreclosures on a Lien; 
 (i) sales of Securitization Assets and related assets of the type specified in the
definition of “Securitization Financing” to a Securitization Subsidiary in connection with any Qualified Securitization Financing; and 

(j) a transfer of Securitization Assets and related assets of the type specified in the definition of “Securitization
Financing” (or a fractional undivided interest therein) by a Securitization Subsidiary in a Qualified Securitization Financing. 

“Authorized Person” of any Person means a Person duly authorized by the Company to act on behalf of such Person.

 “beneficial owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange
Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all securities
that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition. The terms “beneficially
owns” and “beneficially owned” have a corresponding meaning. 
 “Board of Directors”
means 
 (a) with respect to a corporation, the board of directors of the corporation; 

(b) with respect to a partnership, the Board of Directors of the general partner or manager of the partnership; and

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

 “Business Day” means a day other than a Saturday, Sunday or other day on which banking institutions are
authorized or required by law to close in New York City. 
 “Capital Stock” means: 

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

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

 -3- 

 (3) in the case of a partnership or limited liability company, partnership
or membership interests (whether general or limited); and 
 (4) any other interest or participation that confers
on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Capitalized Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability
in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP. 

“Cash Contribution Amount” means the aggregate amount of cash contributions made to the capital of the Company described
in the definition of “Contribution Indebtedness.” 
 “Cash Equivalents” means: 

(1) U.S. dollars, pounds sterling, Euros or, in the case of any foreign subsidiary, such local currencies held by it from
time to time in the ordinary course of business; 
 (2) direct obligations of the United States of America or any
member of the European Union or any agency thereof or obligations guaranteed by the United States of America or any member of the European Union or any agency thereof, in each case with maturities not exceeding two years; 

(3) certificates of deposit, time deposits and eurodollar time deposits with maturities of 12 months or less from the date
of acquisition, bankers’ acceptances with maturities not exceeding 12 months and overnight bank deposits, in each case, with any lender party to a Credit Agreement or with any commercial bank having capital and surplus in excess of
$250,000,000; 
 (4) repurchase obligations for underlying securities of the types described in clauses
(2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above; 

(5) commercial paper maturing within 12 months after the date of acquisition and having a rating of at least A-1 from
Moody’s or P-1 from S&P; 
 (6) securities with maturities of two years or less from the date of
acquisition issued or fully guaranteed by any State, commonwealth or territory of the United States of America, or by any political subdivision or taxing authority thereof, and rated at least A by S&P or A-2 by Moody’s; 

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

 -4- 

 (8) money market funds that (i) comply with the criteria set forth in
Rule 2a-7 under the Investment Company Act of 1940, (ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $500.0 million. 

Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth in clauses
(1) and (2) above; provided that such amounts are converted into any currency listed in clauses (1) and (2) as promptly as practicable and in any event within ten Business Days following the receipt of such amounts.

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

(1) the sale, lease, transfer or other conveyance, in one or a series of related transactions, of all or substantially all
of the assets of the Company and its Subsidiaries, taken as a whole, to any Person other than a Permitted Holder; 

(2) either the Parent Guarantor or the Company becomes aware of (by way of a report or any other filing pursuant to
Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision),
including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), other than the Permitted Holders, in a single transaction or in a related series of
transactions, by way of merger, consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), of 50% or more of the total voting power of the
Voting Stock of the Company or any of its direct or indirect parent corporations; or 
 (3) the first day on
which the Board of Directors of Graham Packaging Company Inc. shall cease to consist of a majority of directors who (i) were members of its Board of Directors on the date of this Indenture or (ii) were either (x) nominated for
election by the Board of Directors of Graham Packaging Company Inc., a majority of whom were directors on the date of this Indenture or whose election or nomination for election was previously approved by a majority of such initial or subsequent
directors, or (y) designated or appointed by a Permitted Holder. 
 “Code” means the United States
Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and rulings issued thereunder. Section references to the Code are to the Code, as in effect on the date of this Indenture, and any subsequent provisions of
the Code amendatory thereof, supplemental thereto or substituted therefor. 
 “Commission” means the Securities
and Exchange Commission. 
 “Company” has the meaning set forth in the preamble to this Indenture. 

“Consolidated Depreciation and Amortization Expense” means with respect to any Person for any period, the total amount
of depreciation and amortization expense, including the 
  

 -5- 

 
amortization of deferred financing fees, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP. 

“Consolidated Interest Expense” means, with respect to any Person for any period, 

(1) the sum, without duplication, of: 

(a) consolidated interest expense of such Person and its Restricted Subsidiaries for such period to the extent such
expense was deducted in computing Consolidated Net Income (including amortization of original issue discount or premium, the interest component of Capitalized Lease Obligations and net cash payments and receipts (if any) pursuant to interest rate
Hedging Obligations, but excluding (i) amortization of deferred financing fees, (ii) non-cash interest expense attributable to the movement in the fair value of Hedging Obligations or other derivative instruments or the reclassification of
amounts out of accumulated other comprehensive income pursuant to GAAP, (iii) any Additional Interest or any comparable additional interest payable in connection with obligations under registration rights agreements, (iv) any expense
resulting from a premium or discount arising in connection with the application of purchase accounting, (v) the recording of a debt modification at fair value, (vi) expensing of any bridge or other financing fees and expenses, and
(vii) any interest expense on Indebtedness of a third party that is not an Affiliate of a parent entity of the Company or any of its Subsidiaries and that is attributable to supply or lease arrangements as a result of consolidation under GAAP
or attributable to “take-or-pay” contracts accounted for in a manner similar to a capital lease under GAAP, in either case so long as the underlying obligations under any such supply or lease arrangement or such “take-or-pay”
contract are not treated as Indebtedness as provided in clause (2) of the proviso to the definition of “Indebtedness”), and 

(b) consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or
accrued (including, without limitation, Securitization Fees), less 
 (2) interest income of such Person and its
Restricted Subsidiaries. 
 “Consolidated Net Income” means, with respect to any Person for any period, the
aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with GAAP; provided, however, that: 

(1) any net after-tax extraordinary or non-recurring gains or losses (less all fees and expenses relating thereto) or
income or expense or charge (including, without limitation, severance, relocation and other restructuring costs and legal and settlement expense related to the Constar intellectual property litigation incurred prior to the date of this Indenture)
including, without limitation, any severance, direct transition expenses, change in control payments and fees, expenses or charges related to any offering of Equity Interests of such Person, any Investment, acquisition, refinancing or amendment or

  

 -6- 

 
modification or any debt instrument or any Indebtedness permitted to be incurred hereunder (in each case, whether or not successful), in each case shall be excluded; 

(2) the cumulative effect of a change in accounting principles during such period shall be excluded; 

(3) any net after-tax income or loss from discontinued operations and any net after-tax gain or loss on disposal of
discontinued operations shall be excluded; 
 (4) any net after-tax gains or losses (less all fees and expenses
or charges relating thereto) attributable to business dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by the Board of Directors of the Company) shall be excluded; 

(5) any net after-tax income or loss (less all fees and expenses or charges relating thereto) attributable to the early
extinguishment of Indebtedness and Hedging Obligations shall be excluded; 
 (6) amount equal to the amount of
Tax Distributions to any parent entity shall be included as though such amounts had been paid as income taxes or other expenses directly by such Person; 

(7)(a) the Net Income for such period of any Person that is not a Subsidiary, or that is an Unrestricted Subsidiary, or
that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or distributions or other payments in respect of equity that are actually paid in cash (or to the extent converted into cash)
by the referent Person to the Company or a Restricted Subsidiary thereof in respect of such period and (b) the Net Income for such period shall include any dividend, distribution or other payments in respect of equity paid in cash by such
Person to the Issuer or a Restricted Subsidiary thereof in excess of the amounts included in clause (a); 

(8)(A) any increase in amortization or depreciation, and adjustments to deferred revenue or debt, or any one-time non-cash
charges (such as purchased in-process research and development or capitalized manufacturing profit in inventory) resulting from purchase accounting (including the effects of such purchase accounting pushed down to the Company and its Restricted
Subsidiaries) or conforming accounting principles in connection with any acquisition, (B) effects of fair value adjustments to contingent consideration in connection with an acquisition and (C) effects of any premium or discount arising
from the recording of a debt modification at fair value in accordance with GAAP, shall be excluded; 
 (9)
accruals and reserves that are established within twelve months after the date of a transaction and that are so required to be established as a result of such transactions in accordance with GAAP shall be excluded; 

 

 -7- 

 (10) any non-cash impairment charge or asset write-off, in each case
pursuant to GAAP, and the amortization of intangibles arising pursuant to GAAP shall be excluded; 
 (11) any
non-cash compensation expense realized from grants of stock appreciation or similar rights, stock options or restricted stock or other rights to officers, directors and employees of such Person or any of its Restricted Subsidiaries shall be
excluded; 
 (12) solely for the purpose of determining the amount available for Restricted Payments under
Section 4.04(a)(3)(A), the Net Income for such period of any Restricted Subsidiary (other than a Guarantor) shall be excluded to the extent the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of its
Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree,
order, statute, rule, or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restriction with respect to the payment of dividends or in similar distributions has been legally waived; provided that
Consolidated Net Income of such Person shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash (or to the extent converted into cash) by such Person to the Company or another Restricted
Subsidiary thereof in respect of such period, to the extent not already included therein; 
 (13)(a) any net
non-cash gain, loss, income or expense resulting in such period from Hedging Obligations and the application of fair value accounting under GAAP and (b) any net unrealized gain, loss, income or expense resulting in such period from currency
translation including those (i) related to currency remeasurements of Indebtedness or intercompany loans and (ii) resulting from hedge agreements for currency exchange risk, shall be excluded; 

(14) cost of sales will be reflected on a FIFO basis; and 

(15) the portion of Net Income attributable to non-controlling interests of Restricted Subsidiaries shall be excluded.

 Notwithstanding the foregoing, for the purpose of Section 4.04 only (other than Section 4.04(a)(3)(D)), there shall be excluded
from Consolidated Net Income any income arising from any sale or other disposition of Restricted Investments made by the Company and the Restricted Subsidiaries, any repurchases and redemptions of Restricted Investments by the Company and the
Restricted Subsidiaries, any repayments of loans and advances which constitute Restricted Investments by the Company and any Restricted Subsidiary, any sale of the stock of an Unrestricted Subsidiary or any distribution or dividend from an
Unrestricted Subsidiary, in each case only to the extent such amounts increase the amount of Restricted Payments permitted under Section 4.04(a)(3)(D) 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases,
dividends or other obligations that do not constitute Indebted-
  

 -8- 

 
ness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any
obligation of such Person, whether or not contingent: 
 (1) to purchase any such primary obligation or any
property constituting direct or indirect security therefor, 
 (2) to advance or supply funds 

(a) for the purchase or payment of any such primary obligation or 

(b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or
solvency of the primary obligor, or 
 (3) to purchase property, securities or services primarily for the purpose
of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. 

“Contribution Indebtedness” means Indebtedness of the Company or any Guarantor in an aggregate principal amount not
greater than twice the aggregate amount of cash contributions (other than Excluded Contributions) made to the capital of the Company after the date of this Indenture; provided that: 

(1) if the aggregate principal amount of such Contribution Indebtedness is greater than the aggregate amount of such cash
contributions to the capital of the Company, the amount in excess shall be Indebtedness (other than Indebtedness that is secured by a Lien) with a Stated Maturity later than the Stated Maturity of the Notes, and 

(2) such Contribution Indebtedness (a) is incurred within 180 days after the making of such cash contribution and
(b) is so designated as Contribution Indebtedness pursuant to an Officer’s Certificate on the incurrence date thereof. 

“Credit Facilities” means, with respect to the Issuer or any of its Restricted Subsidiaries, one or more debt
facilities, including the Senior Secured Credit Agreement, or other financing arrangements (including, without limitation, commercial paper facilities or indentures) providing for revolving credit loans, term loans, letters of credit or other
long-term indebtedness, including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements or refundings
thereof and any indentures or credit facilities or commercial paper facilities that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or
refinancing facility or indenture that increases the amount permitted to be borrowed thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.03) or adds Restricted Subsidiaries as
additional borrowers or guarantors thereunder and whether by the same or any other agent, lender or group of lenders. 
  

 -9- 

 “Default” means any event that is, or with the passage of time or the
giving of notice or both would be, an Event of Default. 
 “Designated Non-cash Consideration” means the fair
market value of non-cash consideration received by the Company or one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer’s Certificate setting forth
the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent sale of such Designated Non-cash Consideration. 

“Designated Preferred Stock” means Preferred Stock of the Company or any direct or indirect parent company of the
Company (other than Disqualified Stock), that is issued for cash (other than to the Company or any of its Subsidiaries or an employee stock ownership plan or trust established by the Company or any of its Subsidiaries) and is so designated as
Designated Preferred Stock, pursuant to an Officer’s Certificate, on the issuance date thereof, the cash proceeds of which are excluded from the calculation set forth in Section 4.04(a)(3). 

“Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person which, by its terms (or by the
terms of any security into which it is convertible or for which it is putable or exchangeable), or upon the happening of any event, matures or is mandatorily redeemable (other than as a result of a change of control or asset sale), pursuant to a
sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than as a result of a change of control or asset sale), in whole or in part, in each case prior to the date 91 days after the earlier of the final
maturity date of the Notes or the date the Notes are no longer outstanding; provided, however, that if such Capital Stock is issued to any plan for the benefit of employees of the Parent Guarantor or its Subsidiaries or by any such
plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Parent Guarantor or its Subsidiaries in order to satisfy applicable statutory or regulatory obligations.

 “EBITDA” means, with respect to any Person for any period, the Consolidated Net Income of such Person for
such period (A) plus, without duplication, and in each case (other than clause (9)) to the extent deducted in calculating Consolidated Net Income for such period: 

(1) provision for taxes based on income, profits or capital of such Person for such period, including, without limitation,
state franchise and similar taxes (such as the Pennsylvania capital tax, Texas franchise tax, Washington Business and Occupation Tax and Michigan single business tax) (including any Tax Distribution taken into account in calculating Consolidated Net
Income); plus 
 (2) Consolidated Interest Expense together with the items excluded pursuant to clauses
(1)(a)(i) through (1)(a)(vii) thereof; plus 
 (3) Consolidated Depreciation and Amortization Expense
of such Person for such period; plus 
 (4) the non-cash portion of “straight line” rent expense; plus

  

 -10- 

 (5) the portion of Net Income attributable to non-controlling interests in
Subsidiaries in such period; plus 
 (6) the amount of any expense to the extent a corresponding amount is
received in cash by the Company and its Restricted Subsidiaries from a Person other than the Company or any Subsidiary of the Company under any agreement providing for reimbursement of any such expense; provided that such reimbursement
payment has not been included in determining Consolidated Net Income or EBITDA (it being understood that if the amounts received in cash under any such agreement in any period exceed the amount of expense in respect of such period, such excess
amounts received may be carried forward and applied against expense in future periods); plus 
 (7) the amount of
management, consulting, monitoring and advisory fees and related expenses paid to the Sponsors or any other Permitted Holder (or any accruals related to such fees and related expenses) during such period; provided that such amount shall not
exceed $5.0 million in any four quarter period; plus 
 (8) without duplication, any other non-cash charges
(excluding any such charge that represents an accrual or reserve for a cash expenditure for a future period); plus 

(9) any net losses resulting from Hedging Obligations entered into in the ordinary course of business relating to
intercompany loans, to the extent that the notional amount of the related Hedging Obligation does not exceed the principal amount of the related intercompany loan, 

and (B) less the sum of, without duplication, 

(1) non-cash items increasing Consolidated Net Income for such period (excluding any items which represent the reversal of
any accrual of, or cash reserve for, anticipated cash charges or asset valuation adjustments made in any prior period), 

(2) any cash dividends paid on non-controlling interests described in clause (5) above, 

(3) the cash portion of “straight line” rent expense which exceeds the amount expensed in respect of such rent
expense and 
 (4) any net gains resulting from Hedging Obligations entered into in the ordinary course of
business relating to intercompany loans, to the extent that the notional amount of the related Hedging Obligation does not exceed the principal amount of the related intercompany loan. 

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

 -11- 

 “Equity Offering” means any public or private sale of common stock or
Preferred Stock of the Company or any or its direct or indirect parent corporations (excluding Disqualified Stock), other than (i) public offerings with respect to common stock of the Company or of any direct or indirect parent corporation of
the Company, in each case registered on Form S-8 and (ii) any such public or private sale that constitutes an Excluded Contribution. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
promulgated thereunder. 
 “Exchange Offer Registration Statement” means the registration statement filed with
the Commission in connection with the Registered Exchange Offer. 
 “Excluded Contribution” means net cash
proceeds, marketable securities or Qualified Proceeds, in each case received by the Company and its Restricted Subsidiaries from: 

(1) contributions to its common equity capital; and 

(2) the sale (other than to a Subsidiary or to any management equity plan or stock option plan or any other management or
employee benefit plan or agreement of the Company or any Subsidiary) of Capital Stock (other than Disqualified Stock), 
 in each case
designated as Excluded Contributions pursuant to an Officer’s Certificate on the date such capital contributions are made or the date such Equity Interests are sold, as the case may be, which are excluded from the calculation set forth in
Section 4.04(a)(3) hereof. 
 “Existing Indebtedness” means Indebtedness of the Company and its
Subsidiaries (other than Indebtedness under the Credit Agreements) in existence on the date of this Indenture (including the Notes issued on the date of this Indenture and any Exchange Notes issued in exchange therefor). 

“Fixed Charge Coverage Ratio” means, with respect to any Person for any period consisting of such Person and its
Restricted Subsidiaries’ most recently ended four fiscal quarters for which internal financial statements are available, the ratio of EBITDA of such Person for such period to the Fixed Charges of such Person for such period. In the event that
the Company or any Restricted Subsidiary incurs, assumes, guarantees or redeems any Indebtedness or issues or repays Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is
being calculated but prior to the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such
incurrence, assumption, guarantee or repayment of Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period. For purposes of making the
computation referred to above, Investments, acquisitions, dispositions, mergers, consolidations (as determined in accordance with GAAP) that have been made by the Company or any Restricted Subsidiary during the four-quarter reference period or
subsequent to such reference period and on or prior to or simultaneously with the Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, consolidations (and the change in
any associated fixed charge obligations 
  

 -12- 

 
and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person (that subsequently became a
Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such period) shall have made any Investment, acquisition, disposition, merger, consolidation that would have required adjustment
pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, merger, consolidation or discontinued operation had occurred at
the beginning of the applicable four-quarter period. For purposes of this definition, whenever pro forma effect is to be given to an acquisition or other Investment and the amount of income or earnings relating thereto, the pro forma calculations
shall be determined in good faith by a responsible financial or accounting Officer of the Company and shall comply with the requirements of Rule 11-02 of Regulation S-X promulgated by the Commission, except that such pro forma calculations may
include operating expense reductions for such period resulting from the acquisition which is being given pro forma effect that have been realized or for which the steps necessary for realization have been taken or are reasonably expected to be taken
within six months following any such acquisition, including, but not limited to, the execution or termination of any contracts, the termination of any personnel or the closing (or approval by the Board of Directors of the Company of any closing) of
any facility, as applicable, provided that, in either case, such adjustments are set forth in an Officer’s Certificate signed by the Company’s chief financial officer and another Officer which states (i) the amount of such
adjustment or adjustments, (ii) that such adjustment or adjustments are based on the reasonable good faith beliefs of the Officers executing such Officer’s Certificate at the time of such execution and (iii) that any related
incurrence of Indebtedness is permitted pursuant to this Indenture. If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the
Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by a responsible financial or accounting Officer of the Company to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest on any
Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an
interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the
Company may designate. 
 “Fixed Charges” means, with respect to any Person for any period, the sum of, without
duplication: 
 (1) Consolidated Interest Expense of such Person for such period, 

(2) all cash dividends paid, accrued and/or scheduled to be paid or accrued during such period (excluding items eliminated
in consolidation) on any series of Preferred Stock of such Person, and 
  

 -13- 

 (3) all cash dividends paid, accrued and/or scheduled to be paid or accrued
during such period (excluding items eliminated in consolidation) on any series of Disqualified Stock. 
 “Flow Through
Entity” means an entity that is treated as a partnership not taxable as a corporation, a grantor trust or a disregarded entity for United States federal income tax purposes or subject to treatment on a comparable basis for purposes of
state, local or foreign tax law. 
 “Foreign Subsidiary” means a Restricted Subsidiary not organized or
existing under the laws of the United States of America or any state or territory thereof and any direct or indirect subsidiary of such Restricted Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States in effect on the date of this Indenture. For
purposes of this Indenture, the term “consolidated” with respect to any Person means such Person consolidated with its Restricted Subsidiaries and does not include any Unrestricted Subsidiary. 

“Government Securities” means securities that are: 

(1) direct obligations of the United States of America for the timely payment of which its full faith and credit is
pledged; or 
 (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States of America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, 

which, in either case, are not callable or redeemable at the option of the issuers thereof, and shall also include a depository receipt issued by a bank
(as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities or a specific payment of principal of or interest on any such Government Securities held by such custodian for the account of the
holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in
respect of the Government Securities or the specific payment of principal of or interest on the Government Securities evidenced by such depository receipt. 

“guarantee” means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course
of business, direct or indirect, in any manner including, without limitation, through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness or other obligations. 

“Guarantee” means any guarantee of the obligations of the Issuers under this Indenture and the Notes by a Guarantor in
accordance with the provisions of this Indenture. When used as a verb, “Guarantee” shall have a corresponding meaning. 
  

 -14- 

 “Guarantor” means any Person that incurs a Guarantee of the Notes;
provided that upon the release and discharge of such Person from its Guarantee in accordance with this Indenture, such Person shall cease to be a Guarantor. 

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

(1) currency exchange, interest rate or commodity swap agreements, currency exchange, interest rate or commodity cap
agreements and currency exchange, interest rate or commodity collar agreements; and 
 (2) other agreements or
arrangements designed to protect such Person against fluctuations in currency exchange, interest rates or commodity prices. 

“Holder” means the Person in whose name a Note is registered on the Registrar’s books. 

“Indebtedness” means, with respect to any Person: 

(a) any indebtedness (including principal and premium) of such Person, whether or not contingent, 

(i) in respect of borrowed money; 

(ii) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or, without double counting,
reimbursement agreements in respect thereof); 
 (iii) representing the balance deferred and unpaid of the
purchase price of any property (including Capitalized Lease Obligations), except (A) any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case accrued in the ordinary course of business and
(B) reimbursement obligations in respect of trade letters of credit obtained in the ordinary course of business with expiration dates not in excess of 365 days from the date of issuance (x) to the extent undrawn or (y) if drawn, to
the extent repaid in full within 20 business days of any such drawing; or 
 (iv) representing any Hedging
Obligations; 
 if and to the extent that any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would appear
as a liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 

(b) Disqualified Stock of such Person; 

(c) to the extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor, guarantor
or otherwise, on the Indebtedness of another 
  

 -15- 

 
Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); 

(d) to the extent not otherwise included, Indebtedness of another Person secured by a Lien on any asset owned by such
Person (whether or not such Indebtedness is assumed by such Person); and 
 (e) to the extent not otherwise
included, the amount then outstanding (i.e., advanced, and received by, and available for use by, the Company or any of its Restricted Subsidiaries) under any Securitization Financing (as set forth in the books and records of the Company or
any Restricted Subsidiary and confirmed by the agent, trustee or other representative of the institution or group providing such Securitization Financing); 

provided, however, that 

(1) Contingent Obligations incurred in the ordinary course of business and not in respect of borrowed money and contingent
consideration arising in connection with acquisitions recorded in accordance with GAAP to the extent that the amount of such consideration has not been finally determined and are not contingencies that will be satisfied solely through the passage of
time, and 
 (2) Indebtedness of a third party that is not an Affiliate of the Parent Guarantor or any of its
Subsidiaries that is attributable to supply or lease arrangements as a result of consolidation under GAAP or attributable to “take-or-pay” contracts accounted for in a manner similar to a capital lease under GAAP, in either case so long as
(i) such supply or lease arrangements or such take-or-pay contracts are entered into in the ordinary course of business, (ii) the Board of Directors of the Parent Guarantor has approved any such supply or lease arrangement or any such
take-or-pay contract and (iii) notwithstanding anything to the contrary contained in the definition of “EBITDA,” the related expense under any such supply or lease arrangement or under any such take-or-pay contract is treated as an
operating expense that reduces EBITDA, 
 shall be deemed not to constitute Indebtedness. 

“Indenture” means this Indenture as amended or supplemented from time to time. 

“Independent Financial Advisor” means an accounting, appraisal or investment banking firm or consultant to Persons
engaged in a Permitted Business of nationally recognized standing that is, in the good faith judgment of the Company, qualified to perform the task for which it has been engaged. 

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

 -16- 

 (1) securities issued by the U.S. government or by any agency or
instrumentality thereof and directly and fully guaranteed or insured by the U.S. government (other than Cash Equivalents), 

(2) investments in any fund that invests exclusively in investments of the type described in clause (1) which fund
may also hold immaterial amounts of cash pending investment and/or distribution, and 
 (3) corresponding
instruments in countries other than the United States customarily utilized for high quality investments and in each case with maturities not exceeding two years from the date of acquisition. 

“Investments” means, with respect to any Person, all direct or indirect investments by such Person in other Persons
(including Affiliates) in the forms of loans (including guarantees or other obligations), advances or capital contributions (excluding accounts receivable, trade credit, advances to customers, commission, travel and similar advances to officers and
employees, in each case made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by GAAP to be
classified on the balance sheet (excluding the footnotes) of such Person in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. If the Company or any
Subsidiary of the Company sells or otherwise disposes of any Equity Interests of any direct or indirect Subsidiary of the Company in accordance with the terms of an arrangement or agreement in effect at the time such Subsidiary was originally
acquired by the Company or a Restricted Subsidiary, such that, after giving effect to any such sale or disposition, such Person is no longer a Subsidiary of the Company, the Company will be deemed to have made an Investment on the date of any such
sale or disposition equal to the fair market value of the Equity Interests of such Subsidiary not sold or disposed of in an amount determined as provided in Section 4.04(c). 

For purposes of the definition of “Unrestricted Subsidiary” and Section 4.04: 

(1) “Investments” shall include the portion (proportionate to the Company’s Equity Interest in such
Subsidiary) of the fair market value of the net assets of a Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a
Restricted Subsidiary, the Company shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to: 

(a) the Company’s “Investment” in such Subsidiary at the time of such redesignation; less 

(b) the portion (proportionate to the Company’s Equity Interest in such Subsidiary) of the fair market value of the
net assets of such Subsidiary at the time of such redesignation; 
  

 -17- 

 (2) any property transferred to or from an Unrestricted Subsidiary shall be
valued at its fair market value at the time of such transfer, in each case as determined in good faith by the Company; and 

(3) any transfer of Capital Stock that results in an entity which became a Restricted Subsidiary after the date of this
Indenture ceasing to be a Restricted Subsidiary shall be deemed to be an Investment in an amount equal to the fair market value (as determined by the Board of Directors of the Company in good faith as of the date of initial acquisition) of the
Capital Stock of such entity owned by the Company and the Restricted Subsidiaries immediately after such transfer. 

“Issue Date” means the date on which the Original Notes are first issued. 

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

“Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, hypothecation, pledge, encumbrance,
charge or security interest in or on such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect as
any of the foregoing) relating to such asset and (c) in the case of securities (other than securities representing an interest in a joint venture that is not a Subsidiary), any purchase option, call or similar right of a third party with
respect to such securities. 
 “Management Group” means the group consisting of the directors, executive
officers and other management personnel of the Company and its direct and indirect parent entities, as the case may be, on the date of this Indenture together with (1) any new directors whose election by such boards of directors or whose
nomination for election by the shareholders of the Company or such parent entity or entities, as the case may be, was approved by a vote of a majority of the directors of the Company or such parent entity or entities, as the case may be, then still
in office who were either directors on the date of this Indenture or whose election or nomination was previously so approved and (2) executive officers and other management personnel of the Company or such parent entity or entities, as the case
may be, hired at a time when the directors on the date of this Indenture together with the directors so approved constituted a majority of the directors of the Company or such parent entity or entities, as the case may be. 

“Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business thereof.

 “Net Income” means, with respect to any Person, the net income (loss) of such Person (including the portion
of such net income attributable to non-controlling interests of Subsidiaries), determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends or accretion of any Preferred Stock. 

“Net Proceeds” means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in
respect of any Asset Sale (including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale and any cash payments received by way of deferred
payment 
  

 -18- 

 
of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring Person of Indebtedness relating to the
disposed assets or other consideration received in any other non-cash form), net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration (including, without limitation, legal, accounting
and investment banking fees, and brokerage and sales commissions), and any relocation expenses Incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any available tax credits or deductions and any tax
sharing arrangements related thereto), amounts required to be applied to the repayment of principal, premium (if any) and interest on Indebtedness required (other than pursuant to Section 4.06(b)) to be paid as a result of such transaction, and
any deduction of appropriate amounts to be provided by the Company as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of in such transaction and retained by the Company after such sale or other
disposition thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 

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

“Obligations” means any principal, interest (including any interest accruing subsequent to the filing of a petition of
bankruptcy at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable law), penalties, fees, indemnifications, reimbursements (including, without limitation, reimbursement
obligations with respect to letters of credit), damages and other liabilities, and guarantees of payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities, payable under the documentation
governing any Indebtedness. 
 “Offering Memorandum” means the offering memorandum relating to the offering of
the Notes dated September 16, 2010. 
 “Officer” means the Chairman of the Board, the Chief Executive
Officer, the President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer or the Secretary of the Company or a Guarantor, as applicable. 

“Officer’s Certificate” means a certificate signed on behalf of the Company by an Officer of the Company, or on
behalf of a Guarantor by an Officer of such Guarantor, who is the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company or the Guarantor, as applicable, that meets the
requirements set forth in this Indenture. 
 “Opinion of Counsel” means a written opinion from legal counsel
who is acceptable to the Trustee. The counsel may be an employee of or counsel to the Company or the Parent Guarantor. 

“Original Notes” has the meaning set forth in the preamble to this Indenture. 

“Parent Guarantor” means Graham Packaging Holdings Company, and its successors and assigns. 

 

 -19- 

 “Permitted Asset Swap” means the concurrent purchase and sale or exchange
of assets used or useful in a Permitted Business or a combination of such assets and cash or Cash Equivalents between the Company or any of its Restricted Subsidiaries and another Person; provided that any cash or Cash Equivalents received
must be applied in accordance with Section 4.06. 
 “Permitted Business” means the plastic container
business and any services, activities or businesses incidental or directly related or similar thereto, any line of business engaged in by the Company or any of its Subsidiaries on the date of this Indenture or any business activity that is a
reasonable extension, development or expansion thereof or ancillary thereto. 
 “Permitted Debt” has the
meaning assigned to it in Section 4.03(b). 
 “Permitted Holders” means, at any time, each of (i) the
Sponsors and their Affiliates (not including, however, any portfolio companies of any of the Sponsors), (ii) the Management Group, with respect to not more than 10% of the total voting power of the Equity Interests of the Parent Guarantor and
(iii) Graham Alternative Investment Partners I. Any person or group whose acquisition of beneficial ownership constitutes a Change of Control in respect of which a Change of Control Offer is made in accordance with the requirements of this
Indenture will thereafter, together with its Affiliates, constitute an additional Permitted Holder. 
 “Permitted
Investment” means: 
 (1) any Investment by the Company in any Restricted Subsidiary or by a Restricted
Subsidiary in the Company or another Restricted Subsidiary; 
 (2) any Investment in cash and Cash Equivalents or
Investment Grade Securities; 
 (3) any Investment by the Company or any Restricted Subsidiary of the Company in
a Person that is engaged in a Permitted Business if as a result of such Investment (A) such Person becomes a Restricted Subsidiary or (B) such Person, in one transaction or a series of related transactions, is merged, consolidated or
amalgamated with or into, or transfers or conveys substantially all of its assets to, or is liquidated into, the Company or a Restricted Subsidiary; 

(4) any Investment in securities or other assets not constituting cash or Cash Equivalents and received in connection with
an Asset Sale made pursuant to Section 4.06 hereof or any other disposition of assets not constituting an Asset Sale; 

(5) any Investment existing on November 24, 2009 and Investments made pursuant to binding commitments in effect on
November 24, 2009; 
 (6)(A) loans and advances to officers, directors and employees, not in excess of $20.0
million in the aggregate outstanding at any one time and (B) loans and advances of payroll payments and expenses to officers, directors and employees in each case incurred in the ordinary course of business; 

 

 -20- 

 (7) any Investment acquired by the Company or any Restricted Subsidiary
(A) in exchange for any other Investment or accounts receivable held by the Company or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other
Investment or accounts receivable or (B) as a result of a foreclosure by the Company or any Restricted Subsidiary with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 

(8) Hedging Obligations permitted under clause (8) of the definition of “Permitted Debt”; 

(9) any Investment by the Company or a Restricted Subsidiary in a Permitted Business having an aggregate fair market
value, taken together with all other Investments made pursuant to this clause (9) that are at that time outstanding (without giving effect to the sale of an Investment to the extent the proceeds of such sale do not consist of cash and/or
marketable securities), not to exceed 5.0% of Total Assets (with the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value); provided, however, that if any
Investment pursuant to this clause (9) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Company after such date, such
Investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause (9) for so long as such Person continues to be a Restricted Subsidiary; 

(10) Investments resulting from the receipt of non-cash consideration in an Asset Sale received in compliance with
Section 4.06 hereof; 
 (11) Investments the payment for which consists of Equity Interests of the Company
or any of its parent companies (exclusive of Disqualified Stock); 
 (12) guarantees (including Guarantees) of
Indebtedness permitted under Section 4.03 hereof and performance guarantees consistent with past practice; 

(13) any transaction to the extent it constitutes an Investment that is permitted and made in accordance Section 4.07
except transactions described in Sections 4.07(b)(ii), (vi), (vii) and (xi) hereof; 
 (14) Investments
of a Restricted Subsidiary acquired after the date of this Indenture or of an entity merged into the Company or merged into or consolidated with a Restricted Subsidiary in accordance with Article 5 after the date of this Indenture to the extent that
such Investments were not made in contemplation of or in connection with such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or consolidation; 

(15) guarantees by the Company or any Restricted Subsidiary of operating leases (other than Capitalized Lease Obligations)
or of other obligations that do not con-
  

 -21- 

 
stitute Indebtedness, in each case entered into by any Restricted Subsidiary in the ordinary course of business; 

(16) Investments consisting of licensing or contribution of intellectual property pursuant to joint marketing arrangements
with other Persons; 
 (17) Investments consisting of purchases and acquisitions of inventory, supplies,
materials and equipment or purchases of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business; 

(18) any Investment in a Securitization Subsidiary or any Investment by a Securitization Subsidiary in any other Person in
connection with a Qualified Securitization Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Securitization Financing or any related Indebtedness; provided,
however, that any Investment in a Securitization Subsidiary is in the form of a Purchase Money Note, contribution of additional Securitization Assets or an equity interest; and 

(19) additional Investments by the Company or any of its Restricted Subsidiaries having an aggregate fair market value,
taken together with all other Investments made pursuant to this clause (19), not to exceed 2.5% of Total Assets at the time of such Investment (with the fair market value of each Investment being measured at the time made and without giving effect
to subsequent changes in value). 
 “Permitted Liens” means the following types of Liens: 

(1) deposits of cash or government bonds made in the ordinary course of business to secure surety or appeal bonds to which
such Person is a party; 
 (2) Liens in favor of issuers of performance, surety, bid, indemnity, warranty,
release, appeal or similar bonds or with respect to other regulatory requirements or letters of credit or bankers’ acceptances issued, and completion guarantees provided for, in each case pursuant to the request of and for the account of such
Person in the ordinary course of its business or consistent with past practice; 
 (3) Liens on property or
shares of stock of a Person at the time such Person becomes a Subsidiary; provided, however, that such Liens are not created or incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary;
provided, further, however, that such Liens may not extend to any other property owned by the Company or any Restricted Subsidiary; 

(4) Liens on property at the time the Company or a Restricted Subsidiary acquired the property, including any acquisition
by means of a merger or consolidation with or into the Company or any Restricted Subsidiary; provided, however, that such Liens are not created or incurred in connection with, or in contemplation of, such acquisition; provided,
further, however, that such Liens may not extend to any other property owned by the Company or any Restricted Subsidiary; 
  

 -22- 

 (5) Liens securing Indebtedness or other obligations of a Restricted
Subsidiary owing to the Company or another Restricted Subsidiary permitted to be incurred in accordance with Section 4.03 hereof; 

(6) Liens securing Hedging Obligations so long as the related Indebtedness is permitted to be incurred under this
Indenture and is secured by a Lien on the same property securing such Hedging Obligation; 
 (7) Liens on
specific items of inventory or other goods and proceeds of any Person securing such Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of
such inventory or other goods; 
 (8) Liens in favor of the Company or any Restricted Subsidiary; 

(9) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings,
extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Liens referred to in clauses (3), (4), (24) and (25) of this definition; provided, however, that (A) such new Lien shall be
limited to all or part of the same property that secured the original Liens (plus improvements on such property), and (B) the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (1) the
outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (3), (4), (24) and (25) at the time the original Lien became a Permitted Lien under this Indenture and (2) an amount necessary
to pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement; 

(10) Liens on Securitization Assets and related assets of the type specified in the definition of “Securitization
Financing” incurred in connection with any Qualified Securitization Financing; 
 (11) Liens for taxes,
assessments or other governmental charges or levies not yet delinquent, or which are being contested in good faith by appropriate proceedings promptly instituted and diligently conducted or for property taxes on property that the Company or one of
its Subsidiaries has determined to abandon if the sole recourse for such tax, assessment, charge, levy or claim is to such property; 

(12) Liens securing judgments for the payment of money in an aggregate amount not in excess of $40.0 million (except to
the extent covered by insurance and the Trustee shall be reasonably satisfied with the credit of such insurer), unless such judgments shall remain undischarged for a period of more than 30 consecutive days during which execution shall not be
effectively stayed; 
 (13)(A) pledges and deposits made in the ordinary course of business in compliance with
the Federal Employers Liability Act or any other workers’ compensation, unemployment insurance and other social security laws or regulations and deposits securing liability to insurance carriers under insurance or self-insurance arrangements in
re-
  

 -23- 

 
spect of such obligations and (B) pledges and deposits securing liability for reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank
guarantees for the benefit of) insurance carriers providing property, casualty or liability insurance to the Parent Guarantor, the Company or any Restricted Subsidiary; 

(14) landlord’s, carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s,
construction or other like Liens arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or that are being contested in good faith by appropriate proceedings and in respect of which, if
applicable, the Company or any Restricted Subsidiary shall have set aside on its books reserves in accordance with GAAP; 

(15) zoning restrictions, easements, trackage rights, leases (other than Capitalized Lease Obligations), licenses, special
assessments, rights-of-way, restrictions on use of real property and other similar encumbrances incurred in the ordinary course of business that, in the aggregate, do not interfere in any material respect with the ordinary conduct of the business of
the Company or any Restricted Subsidiary; 
 (16) Liens that are contractual rights of set-off (A) relating
to the establishment of depository relations with banks not given in connection with the issuance of Indebtedness, (B) relating to pooled deposit or sweep accounts of the Company or any Restricted Subsidiary to permit satisfaction of overdraft
or similar obligations incurred in the ordinary course of business of the Company and the Restricted Subsidiaries or (C) relating to purchase orders and other agreements entered into with customers of the Company or any Restricted Subsidiary in
the ordinary course of business; 
 (17) Liens arising solely by virtue of any statutory or common law provision
relating to banker’s liens, rights of set-off or similar rights; 
 (18) Liens securing obligations in
respect of trade-related letters of credit permitted pursuant to Section 4.03 hereof and covering the goods (or the documents of title in respect of such goods) financed by such letters of credit and the proceeds and products thereof;

 (19) any interest or title of a lessor under any lease or sublease entered into by the Company or any
Restricted Subsidiary in the ordinary course of business; 
 (20) licenses of intellectual property granted in a
manner consistent with past practice; 
 (21) Liens in favor of customs and revenue authorities arising as a
matter of law to secure payment of customs duties in connection with the importation of goods; 
 (22) Liens
solely on any cash earnest money deposits made by the Company or any of the Restricted Subsidiaries in connection with any letter of intent or purchase agreement permitted hereunder; 

 

 -24- 

 (23) other Liens securing Indebtedness for borrowed money with respect to
property or assets of the Company or a Restricted Subsidiary with an aggregate fair market value (valued at the time of creation thereof) of not more than $50.0 million at any time; 

(24) Liens securing Capitalized Lease Obligations permitted to be incurred under Section 4.03 hereof and Indebtedness
permitted to Section 4.03(b)(iii); provided, however, that such Liens securing Capitalized Lease Obligations or Indebtedness incurred under Section 4.03(b)(iii) may not extend to property owned by the Company or any
Restricted Subsidiary other than the property being leased or acquired pursuant to such Section; 
 (25) Liens
(other than Liens securing the Credit Agreements) existing on the date of this Indenture; and 
 (26)(A) Liens
securing Obligations under Credit Facilities; provided that the principal amount of Indebtedness secured by such Liens pursuant to subclause (A) does not exceed $2,200 million; (B) Liens incurred to secure Obligations in respect of
Indebtedness permitted to be Incurred pursuant to Section 4.03; provided that as of such date, and after giving effect to the Incurrence of such Indebtedness and the application of the proceeds therefrom on such date, would not cause the
Secured Indebtedness Leverage Ratio of the Company to exceed 3.50 to 1.00; and (C) Liens securing Indebtedness permitted to be Incurred pursuant to Section 4.03(b)(xviii). 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company or government or other entity. 
 “Preferred Stock”
means any Equity Interest with preferential rights of payment of dividends upon liquidation, dissolution or winding up. 

“Presumed Tax Rate” means the highest effective marginal statutory combined U.S. federal, state and local income tax
rate prescribed for an individual residing in New York City (taking into account (i) the deductibility of state and local income taxes for U.S. federal income tax purposes, assuming the limitation of Section 68(a)(2) of the Code applies
and taking into account any impact of the Code, and (ii) the character (long-term or short-term capital gain, dividend income or other ordinary income) of the applicable income). 

“Purchase Money Note” means a promissory note of a Securitization Subsidiary evidencing a line of credit, which may be
irrevocable, from the Parent Guarantor or any Subsidiary of the Parent Guarantor to a Securitization Subsidiary in connection with a Qualified Securitization Financing, which note is intended to finance that portion of the purchase price that is not
paid in cash or a contribution of equity and which (a) shall be repaid from cash available to the Securitization Subsidiary, other than (i) amounts required to be established as reserves, (ii) amounts paid to investors in respect of
interest, (iii) principal and other amounts owing to such investors and (iv) amounts paid in connection with the purchase of newly generated receivables and (b) may be subordinated to the payments described in clause (a). 

 

 -25- 

 “Qualified Proceeds” means assets that are used or useful in, or Capital
Stock of any Person engaged in, a Permitted Business; provided that the fair market value of any such assets or Capital Stock shall be determined by a Responsible Officer of the Company in good faith, except that in the event the value of any
such assets or Capital Stock exceeds $30.0 million or more, the fair market value shall be determined by the Board of Directors in good faith. 

“Qualified Securitization Financing” means any Securitization Financing of a Securitization Subsidiary that meets the
following conditions: 
 (i) the Board of Directors shall have determined in good faith that such Qualified
Securitization Financing (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Company and the Securitization Subsidiary, 

(ii) all sales of Securitization Assets and related assets to the Securitization Subsidiary are made at fair market value
(as determined in good faith by the Company) and 
 (iii) the financing terms, covenants, termination events and
other provisions thereof shall be market terms (as determined in good faith by the Company) and may include Standard Securitization Undertakings. 

The grant of a security interest in any Securitization Assets of the Company or any of its Restricted Subsidiaries (other than a Securitization
Subsidiary) to secure Indebtedness under the Credit Agreements and any Refinancing Indebtedness with respect thereto shall not be deemed a Qualified Securitization Financing. 

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

“Recapitalization Agreement” means the Agreement and Plan of Recapitalization, Redemption and Repurchase, dated as of
December 18, 1997 by and among the Company, BMP/Graham Holdings Corporation and the other parties thereto. 

“Registration Rights Agreement” means the Registration Rights agreement, dated as of September 23, 2010, among the
Issuers, the Restricted Subsidiaries that are Guarantors and the initial purchasers of the Notes. 
 “Responsible
Officer” of any Person means any executive officer or financial officer of such Person and any other officer or similar official thereof responsible for the administration of the obligations of such Person in respect of this Indenture.

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

 

 -26- 

 “Restricted Subsidiary” means, at any time, any direct or indirect
Subsidiary of the Company that is not then an Unrestricted Subsidiary; provided, however, that upon the occurrence of an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the
definition of Restricted Subsidiary. 
 “S&P” means Standard & Poor’s Ratings Services, a
division of The McGraw-Hill Companies, Inc. and its subsidiaries, or any successor to the rating agency business thereof. 

“Secured Indebtedness Leverage Ratio” means, with respect to any Person, at any date the ratio of (i) consolidated
Indebtedness of such Person and its Restricted Subsidiaries that is secured by a Lien (other than Liens permitted under clause (6) of the definition of “Permitted Liens”) as of such date of calculation (determined on a consolidated
basis in accordance with GAAP) to (ii) EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date on which such additional Indebtedness is Incurred. 

In the event that the Company or any Restricted Subsidiary incurs, assumes, guarantees or redeems any Indebtedness or issues or repays
Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Secured Indebtedness Leverage Ratio is being calculated but prior to the event for which the calculation of the Secured Indebtedness Leverage Ratio is
made (the “Calculation Date”), then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption, guarantee or repayment of Indebtedness, or such issuance or redemption of
Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period. For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers, consolidations (as
determined in accordance with GAAP) that have been made by the Company or any Restricted Subsidiary during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Calculation Date shall
be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, consolidations (and the change in any associated fixed charge obligations and the change in EBITDA resulting therefrom) had occurred on the
first day of the four-quarter reference period. If since the beginning of such period any Person (that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such
period) shall have made any Investment, acquisition, disposition, merger, consolidation that would have required adjustment pursuant to this definition, then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect thereto
for such period as if such Investment, acquisition, disposition, merger, consolidation or discontinued operation had occurred at the beginning of the applicable four-quarter period. For purposes of this definition, whenever pro forma effect is to be
given to an acquisition or other Investment and the amount of income or earnings relating thereto, the pro forma calculations shall be determined in good faith by a responsible financial or accounting Officer of the Company and shall comply with the
requirements of Rule 11-02 of Regulation S-X promulgated by the Commission, except that such pro forma calculations may include operating expense reductions for such period resulting from the acquisition which is being given pro forma effect that
have been realized or for which the steps necessary for realization have been taken or are reasonably expected to be taken within six months following any such acquisition, including, but not limited to, the execution or termination

  

 -27- 

 
of any contracts, the termination of any personnel or the closing (or approval by the Board of Directors of the Company of any closing) of any facility, as applicable; provided that, in
either case, such adjustments are set forth in an Officer’s Certificate signed by the Company’s chief financial officer and another Officer which states (i) the amount of such adjustment or adjustments, (ii) that such adjustment
or adjustments are based on the reasonable good faith beliefs of the Officers executing such Officer’s Certificate at the time of such execution and (iii) that any related incurrence of Indebtedness is permitted pursuant to this Indenture.

 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the
Commission promulgated thereunder. 
 “Securitization Assets” means any accounts receivable, inventory, royalty
or revenue streams from sales of inventory subject to a Qualified Securitization Financing. 
 “Securitization
Fees” means reasonable distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Securitization Subsidiary in
connection with any Qualified Securitization Financing. 
 “Securitization Financing” means any transaction or
series of transactions that may be entered into by the Company or any of its Subsidiaries pursuant to which the Company or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case of a
transfer by the Company or any of its Subsidiaries) and (b) any other Person (in the case of a transfer by a Securitization Subsidiary), or may grant a security interest in, any Securitization Assets (whether now existing or arising in the
future) of the Company or any of its Subsidiaries, and any assets related thereto including, without limitation, all collateral securing such Securitization Assets, all contracts and all guarantees or other obligations in respect of such
Securitization Assets, proceeds of such Securitization Assets and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving
Securitization Assets and any Hedging Obligations entered into by the Company or any such Subsidiary in connection with such Securitization Assets. 

“Securitization Repurchase Obligation” means any obligation of a seller of Securitization Assets in a Qualified
Securitization Financing to repurchase Securitization Assets arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense,
dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller. 

“Securitization Subsidiary” means a Wholly Owned Subsidiary of the Company (or another Person formed for the purposes of
engaging in a Qualified Securitization Financing in which the Company or any Subsidiary of the Company makes an Investment and to which the Parent Guarantor or any Subsidiary of the Company transfers Securitization Assets and related assets) which
engages in no activities other than in connection with the financing of Securitization Assets of the Company or its Subsidiaries, all proceeds thereof and all rights (contractual and other), collateral and other assets relating thereto, and any
business or activities incidental or 
  

 -28- 

 
related to such business, and which is designated by the Board of Directors of the Company or such other Person (as provided below) as a Securitization Subsidiary and (a) no portion of the
Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by the Company or any other Subsidiary of the Company (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness)
pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates the Parent Guarantor or any other Subsidiary of the Company in any way other than pursuant to Standard Securitization Undertakings or (iii) subjects any
property or asset of the Company or any other Subsidiary of the Company, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings, (b) with which neither the
Company nor any other Subsidiary of the Company has any material contract, agreement, arrangement or understanding other than on terms which the Company reasonably believes to be no less favorable to the Company or such Subsidiary than those that
might be obtained at the time from Persons that are not Affiliates of the Parent Guarantor and (c) to which neither the Company nor any other Subsidiary of the Company has any obligation to maintain or preserve such entity’s financial
condition or cause such entity to achieve certain levels of operating results. Any such designation by the Board of Directors of the Company or such other Person shall be evidenced to the Trustee by filing with the Trustee a certified copy of the
resolution of the Board of Directors of the Company or such other Person giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the foregoing conditions. 

“Senior Secured Credit Agreement” means the Credit Agreement dated as of October 7, 2004 among the Company, any
other borrowers party thereto from time to time, Deutsche Bank AG Cayman Islands Branch as administrative agent and the lenders party thereto from time to time and the Credit Agreement dated October 7, 2004 among the Company, any other
borrowers party thereto from time to time, Deutsche Bank AG Cayman Islands Branch as administrative agent and the lenders party thereto from time to time, including any related notes, guarantees, collateral documents, instruments and agreements
executed in connection therewith, and in each case as amended, restated, supplemented, modified, renewed, refunded, replaced or refinanced from time to time in one or more agreements or indentures (in each case with the same or new lenders or
institutional investors), including any agreement or indenture extending the maturity thereof or otherwise restructuring all or any portion of the Indebtedness thereunder or increasing the amount loaned or issued thereunder or altering the maturity
thereof. 
 “Significant Subsidiary” means any Restricted Subsidiary that would be a “significant
subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the date hereof. 

“Sponsors” means Blackstone Capital Partners III L.P., Blackstone Offshore Capital Partners L.P. and their Affiliates.

 “Standard Securitization Undertakings” means representations, warranties, covenants and indemnities entered
into by the Company or any Subsidiary of the Company which the Company has determined in good faith to be customary in a Securitization Financing, including, without limitation, those relating to the servicing of the assets of a Securitization
Subsidiary, it being understood that any Securitization Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking. 
  

 -29- 

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

“Subordinated Indebtedness” means (a) with respect to the Company, any Indebtedness of the Company that is by its
terms subordinated in right of payment to the Notes and (b) with respect to any Guarantor of the Notes, any Indebtedness of such Guarantor that is by its terms subordinated in right of payment to its Guarantee of the Notes. 

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

(1) any corporation, association or other business entity, of which more than 50% of the total voting power of shares of
Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other
Subsidiaries of that Person (or a combination thereof); and 
 (2) any partnership, joint venture, limited
liability company or similar entity of which (x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general or limited partnership interests, as applicable, are owned or controlled, directly or
indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof whether in the form of membership, general, special or limited partnership or otherwise and (y) such Person or any Restricted Subsidiary
of such Person is a controlling general partner or otherwise controls such entity. 
 “Tax Distribution” means
any distributions described in Section 4.04(b)(ix). 
 “TIA” means the Trust Indenture Act of 1939 (15
U.S.C. Section 77aaa 77bbbb) as in effect on the Issue Date. 
 “Total Assets” means the total
consolidated assets of the Company and its Restricted Subsidiaries, as shown on the most recent balance sheet of the Company. 

“Treasury Rate” means, as of the applicable redemption date, the yield to maturity as of such redemption date of United
States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15(519) that has become publicly available at least two business days prior to such redemption date (or, if such
Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such redemption date to October 1, 2014; provided, however, that if the period from such
redemption date to October 1, 2014, is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Trust Officer” means: 
  

 -30- 

 (1) any officer within the corporate trust department of the Trustee,
including any vice president, assistant vice president, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers,
respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject, and 

(2) who shall have direct responsibility for the administration of this Indenture. 

“Trustee” means, initially, The Bank of New York Mellon, a New York banking corporation, in its capacity as Trustee
hereunder, and its successors in such capacity. 
 “Uniform Commercial Code” means the New York Uniform
Commercial Code as in effect from time to time. 
 “Unrestricted Subsidiary” means: 

(i) any Subsidiary of the Company that at the time of determination is an Unrestricted Subsidiary (as designated by the
Board of Directors of the Company, as provided below); and 
 (ii) any Subsidiary of an Unrestricted Subsidiary.

 The Board of Directors of the Company may designate any Subsidiary of the Company (including any existing Subsidiary and any newly acquired
or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any property of, the Company or any Subsidiary of the Company
(other than any Subsidiary of the Subsidiary to be so designated); provided that (a) any Unrestricted Subsidiary must be an entity of which shares of the Capital Stock or other equity interests (including partnership interests) entitled
to cast at least a majority of the votes that may be cast by all shares or equity interests having ordinary voting power for the election of directors or other governing body are owned, directly or indirectly, by the Company, (b) such
designation complies with Section 4.04 hereof and (c) each of (x) the Subsidiary to be so designated and (y) its Subsidiaries has not at the time of designation, and does not thereafter, create, incur, issue, assume, guarantee or
otherwise become directly or indirectly liable with respect to any Indebtedness pursuant to which the lender has recourse to any of the assets of the Company or any Restricted Subsidiary. The Board of Directors may designate any Unrestricted
Subsidiary to be a Restricted Subsidiary; provided that, immediately after giving effect to such designation, no Default or Event of Default shall have occurred and be continuing and either (A) the Fixed Charge Coverage Ratio would be at
least 2.00 to 1.00 or (B) the Fixed Charge Coverage Ratio would be equal to or greater than immediately prior to such designation, in each case on a pro forma basis taking into account such designation. Any such designation by the Board of
Directors shall be notified by the Company to the Trustee by promptly filing with the Trustee a copy of the board resolution giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the
foregoing provisions. 
  

 -31- 

 “Voting Stock” of any Person as of any date means the Capital Stock of such
Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 
 “Weighted
Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing: 

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

“Wholly Owned Restricted Subsidiary” is any Wholly Owned Subsidiary that is a Restricted Subsidiary. 

“Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of the outstanding Capital Stock or
other ownership interests of which (other than directors’ qualifying shares or nominee or other similar shares required pursuant to applicable law) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such
Person or by such Person and one or more Wholly Owned Subsidiaries of such Person. 
 Section 1.02. Other Definitions.

  

			
	 Term
	  	Defined
in Section
	 “Acceleration Notice”
	  	6.02
	 “Affiliate Transaction”
	  	4.07
	 “Agent Members”
	  	Appendix A
	 “Appendix”
	  	Preamble
	 “Applicable Procedures”
	  	Appendix A
	 “Asset Sale Offer”
	  	4.06(b)
	 “Bankruptcy Law”
	  	6.01
	 “Change of Control Offer”
	  	4.08(b)
	 “Change of Control Payment”
	  	4.08(a)
	 “Change of Control Purchase Date”
	  	4.08(b)
	 “Corporate Co-Issuer”
	  	Preamble
	 “Covenant Defeasance”
	  	8.02(b)
	 “Covenant Suspension Event”
	  	4.13(a)
	 “Custodian”
	  	6.01
	 “Definitive Note”
	  	Appendix A
	 “Depository”
	  	Appendix A
	 “Distribution Compliance Period”
	  	Appendix A
	 “Euroclear”
	  	Appendix A
	 “Event of Default”
	  	6.01
	 “Excess Proceeds”
	  	4.06(b)

  

 -32- 

			
	 “Exchange Notes”
	  	Preamble
	 “Global Notes”
	  	Appendix A
	 “Global Notes Legend”
	  	Appendix A
	 “Guaranteed Obligations”
	  	10.01(c)
	 “incorporated provision”
	  	11.01
	 “incur”
	  	4.03(a)
	 “Initial Notes”
	  	Preamble
	 “Initial Purchasers”
	  	Appendix A
	 “Legal Defeasance”
	  	8.02(a)
	 “Non-U.S. Person”
	  	Appendix A
	 “Non-Wholly Owned Senior Obligation Guarantor”
	  	10.01(a)
	 “Notes Custodian”
	  	Appendix A
	 “Offer Period”
	  	4.06(d)
	 “Paying Agent”
	  	2.04
	 “Permanent Regulation S Global Note”
	  	Appendix A
	 “Process Agent”
	  	11.10(c)
	 “protected purchaser”
	  	2.08
	 “QIB”
	  	Appendix A
	 “Refinancing Indebtedness”
	  	4.03(b)
	 “Refunding Capital Stock”
	  	4.04(b)
	 “Registered Exchange Offer”
	  	Appendix A
	 “Registrar”
	  	2.04
	 “Registration Rights Agreement”
	  	Appendix A
	 “Regulation S”
	  	Appendix A
	 “Regulation S Global Note”
	  	Appendix A
	 “Restricted Note”
	  	Appendix A
	 “Restricted Notes Legend”
	  	Appendix A
	 “Restricted Payments”
	  	4.04(a)
	 “Restricted Period”
	  	Appendix A
	 “Retired Capital Stock”
	  	4.04(b)
	 “Reversion Date”
	  	4.13(b)
	 “Rule 144”
	  	Appendix A
	 “Rule 144A”
	  	Appendix A
	 “Rule 144A Global Note”
	  	Appendix A
	 “Rule 144A Notes”
	  	Appendix A
	 “Senior Obligation Guarantor”
	  	10.01(a)
	 “Shelf Registration Statement”
	  	Appendix A
	 “Successor Company”
	  	5.01(a)
	 “Successor Guarantor”
	  	5.02
	 “Suspended Covenants”
	  	4.13(a)
	 “Suspension Period”
	  	4.13(b)
	 “Temporary Regulation S Global Note”
	  	Appendix A
	 “Transfer Restricted Notes”
	  	Appendix A

  

 -33- 

 Section 1.03. Incorporation by Reference of Trust Indenture Act. This Indenture
incorporates by reference certain provisions of the TIA. The following TIA terms have the following meanings: 

“indenture securities” means the Notes and the Guarantees. 

“obligor” on the indenture securities means the Issuers, the Guarantors and any other obligor on the Notes. 

All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by
Commission rule have the meanings assigned to them by such definitions. 
 Section 1.04. Rules of Construction. Unless
the context otherwise requires: 
 (a) a term has the meaning assigned to it; 

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

(c) “or” is not exclusive; 

(d) “including” means including without limitation; 

(e) words in the singular include the plural and words in the plural include the singular; 

(f) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its
nature as unsecured Indebtedness; 
 (g) the principal amount of any non-interest bearing or other discount
security at any date shall be the principal amount thereof that would be shown on a balance sheet of the Issuers dated such date prepared in accordance with GAAP; 

(h) the principal amount of any Preferred Stock shall be (i) the maximum liquidation value of such Preferred Stock or
(ii) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; 

(i) unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting
determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with GAAP; 

(j) “$” and “U.S. Dollars” each refer to United States dollars, or such other money of
the United States of America that at the time of payment is legal tender for payment of public and private debts; and 
  

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 (k) whenever in this Indenture there is mentioned, in any context,
principal, interest or any other amount payable under or with respect to any Notes, such mention shall be deemed to include mention of the payment of Additional Interest, to the extent that, in such context, Additional Interest is, was, or would be
payable in respect thereof. 
 ARTICLE 2 

THE NOTES 

Section 2.01. Amount of Notes. The aggregate principal amount of Original Notes which may be authenticated and delivered under
this Indenture on the Issue Date is $250,000,000. 
 The Issuers may from time to time after the Issue Date issue Additional
Notes under this Indenture in an unlimited principal amount, so long as (i) the incurrence of the Indebtedness represented by such Additional Notes is at such time permitted by Section 4.03 and (ii) such Additional Notes are issued in
compliance with the other applicable provisions of this Indenture. With respect to any Additional Notes issued after the Issue Date (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Notes pursuant to Sections 2.07, 2.08, 2.09, 2.10, 3.03(c), 4.06(f), 4.08(c) or the Appendix), there shall be (a) established in or pursuant to a resolution of the Board of Directors and (b) (i) set forth or determined in the
manner provided in an Officer’s Certificate or (ii) established in one or more indentures supplemental hereto, prior to the issuance of such Additional Notes: 

(1) the aggregate principal amount of such Additional Notes which may be authenticated and delivered under this Indenture;

 (2) the issue price and issuance date of such Additional Notes, including the date from which interest on such
Additional Notes shall accrue; 
 (3) if applicable, that such Additional Notes shall be issuable in whole or in
part in the form of one or more Global Notes and, in such case, the respective depositaries for such Global Notes, the form of any legend or legends which shall be borne by such Global Notes in addition to or in lieu of those set forth in Exhibit A
or B hereto and any circumstances in addition to or in lieu of those set forth in Section 2.2 of the Appendix in which any such Global Notes may be exchanged in whole or in part for Additional Notes registered, or any transfer of such Global
Notes in whole or in part may be registered, in the name or names of Persons other than the depositary for such Global Notes or a nominee thereof; and 

(4) if applicable, that such Additional Notes that are not Transfer Restricted Notes shall not be issued in the form of
Initial Notes as set forth in Exhibit A, but shall be issued in the form of Exchange Notes as set forth in Exhibit B. 
 If any
of the terms of any Additional Notes are established by action taken pursuant to a resolution of the Board of Directors, a copy of an appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Company and
delivered to the Trustee at 
  

 -35- 

 
or prior to the delivery of the Officer’s Certificate or the indenture supplemental hereto setting forth the terms of the Additional Notes. 

Section 2.02. Form and Dating. Provisions relating to the Initial Notes and the Exchange Notes are set forth in the Appendix,
which is hereby incorporated in and expressly made a part of this Indenture. (i) The Initial Notes and the Trustee’s certificate of authentication and (ii) any Additional Notes (if issued as Transfer Restricted Notes) and the
Trustee’s certificate of authentication shall each be substantially in the form of Exhibit A hereto, which is hereby incorporated in and expressly made a part of this Indenture. (i) The Exchange Notes and the Trustee’s certificate of
authentication and (ii) any Additional Notes issued other than as Transfer Restricted Notes and the Trustee’s certificate of authentication shall each be substantially in the form of Exhibit B hereto, which is hereby incorporated in and
expressly made a part of this Indenture. The Notes may have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Issuers or any Guarantor is subject, if any, or usage (provided that any such
notation, legend or endorsement is in a form acceptable to the Issuer). Each Note shall be dated the date of its authentication. The Notes shall be issuable only in registered form without interest coupons and only in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. 
 Section 2.03. Execution and Authentication. The Trustee shall
authenticate and make available for delivery upon a written order of the Issuers signed by one Officer (a) Original Notes for original issue on the date hereof in an aggregate principal amount of $250,000,000, (b) subject to the terms of
this Indenture, Additional Notes in an aggregate principal amount to be determined at the time of issuance and specified therein and (c) the Exchange Notes for issue in a Registered Exchange Offer pursuant to the Registration Rights Agreement
for a like principal amount of Initial Notes exchanged pursuant thereto or otherwise pursuant to an effective registration statement under the Securities Act. Such order shall specify the amount of the Notes to be authenticated, the date on which
the original issue of Notes is to be authenticated and whether the Notes are to be Initial Notes or Exchange Notes. Notwithstanding anything to the contrary in this Indenture or the Appendix, any issuance of Additional Notes after the Issue Date
shall be in a principal amount of at least $2,000 and integral multiples of $1,000 in excess thereof. 
 One Officer shall sign
the Notes for the Issuers by manual or facsimile signature. 
 If an Officer whose signature is on a Note no longer holds that
office at the time the Trustee authenticates the Note, the Note shall be valid nevertheless. 
 A Note shall not be valid until
an authorized signatory of the Trustee manually signs the certificate of authentication on the Note. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture. 

The Trustee may appoint one or more authenticating agents reasonably acceptable to the Issuers to authenticate the Notes. Any such
appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Issuers. Unless limited by the terms of such appointment, an authenticating agent may authenticate Notes whenever the Trustee may do
so. Each reference in this Indenture to authentication by the Trustee includes 
  

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authentication by such agent. An authenticating agent has the same rights as any Registrar, Paying Agent or agent for service of notices and demands. 

The Trustee is hereby authorized to enter into a letter of representations with the Depository in the form provided by the Issuers and to
act in accordance with such letter. 
 Section 2.04. Registrar and Paying Agent. (a) The Issuers shall maintain
(i) an office or agency where Notes may be presented for registration of transfer or for exchange (the “Registrar”) and (ii) an office or agency where Notes may be presented for payment (the “Paying
Agent”). The Registrar shall keep a register of the Notes and of their transfer and exchange. The Issuers may have one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any
co-registrars. The Company initially appoints the Trustee as (i) Registrar and Paying Agent in connection with the Notes and (ii) the Notes Custodian with respect to the Global Notes. The Issuers shall enter into an appropriate agency
agreement with any Registrar or Paying Agent not a party to this Indenture, which shall incorporate the terms of the TIA. The agreement shall implement the provisions of this Indenture that relate to such agent. The Issuers shall notify the Trustee
of the name and address of any such agent. If the Issuers fail to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.07. The Company or any of its
Subsidiaries may act as Paying Agent or Registrar. 
 (b) The Issuers may remove any Registrar or Paying Agent upon written
notice to such Registrar or Paying Agent and to the Trustee; provided, however, that no such removal shall become effective until (i) if applicable, acceptance of an appointment by a successor as evidenced by an appropriate
agreement entered into by the Company and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the
appointment of a successor in accordance with clause (i) above. The Registrar or Paying Agent may resign at any time upon written notice to the Company and the Trustee; provided, however, that the Trustee may resign as Paying
Agent or Registrar only if the Trustee also resigns as Trustee in accordance with Section 7.08. 
 Section 2.05. Paying
Agent to Hold Money in Trust. Prior to each due date of the principal of and interest on any Note, the Company shall deposit with each Paying Agent (or if the Company or a Subsidiary is acting as Paying Agent, segregate and hold in trust for the
benefit of the Persons entitled thereto) a sum sufficient to pay such principal and interest when so becoming due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that a Paying Agent shall hold in trust for
the benefit of Holders or the Trustee all money held by a Paying Agent for the payment of principal of and interest on the Notes, and shall notify the Trustee of any default by the Company in making any such payment. If the Company or a Subsidiary
of the Company acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it in trust for the benefit of the Persons entitled thereto. The Company at any time may require a Paying Agent to pay all money held by it to the
Trustee and to account for any funds disbursed by such Paying Agent. Upon complying with this Section, a Paying Agent shall have no further liability for the money delivered to the Trustee. 

 

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 Section 2.06. Holder Lists. The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and addresses of Holders. If the Trustee is not the Registrar, the Company shall furnish, or cause the Registrar to furnish, to the Trustee, in writing at least five
(5) Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders. 

Section 2.07. Transfer and Exchange. The Notes shall be issued in registered form and shall be transferable only upon the
surrender of a Note for registration of transfer and in compliance with the Appendix. When a Note is presented to the Registrar with a request to register a transfer, the Registrar shall register the transfer as requested if its requirements
therefor are met. When Notes are presented to the Registrar with a request to exchange them for an equal principal amount of Notes of other denominations, the Registrar shall make the exchange as requested if the same requirements are met. To permit
registration of transfers and exchanges, the Issuers shall execute and the Trustee shall authenticate Notes at the Registrar’s request. The Issuers may require payment of a sum sufficient to pay all taxes, assessments or other governmental
charges in connection with any transfer or exchange pursuant to this Section. The Issuers shall not be required to make, and the Registrar need not register, transfers or exchanges of Notes selected for redemption (except, in the case of Notes to be
redeemed in part, the portion thereof not to be redeemed) or of any Notes for a period of 15 days before a selection of Notes to be redeemed. 

Prior to the due presentation for registration of transfer of any Notes, the Issuers, the Guarantors, the Trustee, each Paying Agent and
the Registrar may deem and treat the Person in whose name a Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest, if any, on such Note and for all other purposes whatsoever, whether
or not such Note is overdue, and none of the Issuers, any Guarantor, the Trustee, a Paying Agent or the Registrar shall be affected by notice to the contrary. 

Any Holder of a beneficial interest in a Global Note shall, by acceptance of such beneficial interest, agree that transfers of beneficial
interests in such Global Note may be effected only through a book-entry system maintained by (a) the Holder of such Global Note (or its agent) or (b) any Holder of a beneficial interest in such Global Note, and that ownership of a
beneficial interest in such Global Note shall be required to be reflected in a book entry. 
 All Notes issued upon any transfer
or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Notes surrendered upon such transfer or exchange. 

Section 2.08. Replacement Notes. If a mutilated Note is surrendered to the Registrar or if the Holder of a Note claims that the
Note has been lost, destroyed or wrongfully taken, the Issuers shall issue and the Trustee shall authenticate a replacement Note if the requirements of Section 8-405 of the Uniform Commercial Code are met, such that the Holder
(a) satisfies the Company or the Trustee within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such notification, (b) makes such
request to the Company or the Trustee prior to the Note being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code (a 

 

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“protected purchaser”) and (c) satisfies any other reasonable requirements of the Trustee. If required by the Trustee or the Company, such Holder shall furnish an indemnity
bond sufficient in the judgment of the Trustee to protect the Company, the Trustee, a Paying Agent and the Registrar from any loss that any of them may suffer if a Note is replaced. The Company and the Trustee may charge the Holder for their
expenses in replacing a Note (including without limitation, attorneys’ fees and disbursements in replacing such Note). In the event any such mutilated, lost, destroyed or wrongfully taken Note has become or is about to become due and payable,
the Issuers in their discretion may pay such Note instead of issuing a new Note in replacement thereof. Every replacement Note is an additional obligation of the Issuers. 

The provisions of this Section 2.08 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with
respect to the replacement or payment of mutilated, lost, destroyed or wrongfully taken Notes. 
 Section 2.09. Outstanding
Notes. (a) Notes outstanding at any time are all Notes that have been authenticated by the Trustee except for 

(1) Notes cancelled by the Trustee or delivered to it for cancellation; 

(2) any Note which has been replaced pursuant to Section 2.08 unless and until the Trustee and the Company receive
proof satisfactory to them that the replaced Note is held by a protected purchaser; and 
 (3) on or after the
maturity date or any redemption date or date for purchase of the Notes pursuant to an Offer to Purchase, those Notes payable or to be redeemed or purchased on that date for which the Trustee (or Paying Agent, other than the Company or an Affiliate
of the Company) holds money sufficient to pay all amounts then due. 
 (b) A Note does not cease to be outstanding because the
Issuers or one of their Affiliates holds the Note; provided that in determining whether the Holders of the requisite principal amount of the outstanding Notes have given or taken any request, demand, authorization, direction, notice, consent,
waiver or other action hereunder, Notes owned by the Issuers or any Affiliate of the Issuers will be disregarded and deemed not to be outstanding, (it being understood that in determining whether the Trustee is protected in relying upon any such
request, demand, authorization, direction, notice, consent, waiver or other action, only Notes which the Trustee knows to be so owned will be so disregarded). 

(c) If a Paying Agent segregates and holds in trust, in accordance with this Indenture, on a redemption date or maturity date, money
sufficient to pay all principal and interest payable on that date with respect to the Notes (or portions thereof) to be redeemed or maturing, as the case may be, and no Paying Agent is prohibited from paying such money to the Holders on that date
pursuant to the terms of this Indenture, then on and after that date such Notes (or portions thereof) will cease to be outstanding and interest on them ceases to accrue. 

Section 2.10. Temporary Notes. In the event that Definitive Notes are to be issued under the terms of this Indenture, until such
Definitive Notes are ready for delivery, the Issuers may prepare and the Trustee shall authenticate temporary Notes. Temporary Notes shall be substan-

 

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tially in the form of Definitive Notes but may have variations that the Issuers consider appropriate for temporary Notes. Without unreasonable delay, the Issuers shall prepare and the Trustee
shall authenticate Definitive Notes and make them available for delivery in exchange for temporary Notes upon surrender of such temporary Notes at the office or agency of the Issuer, without charge to the Holder. Until such exchange, temporary Notes
shall be entitled to the same rights, benefits and privileges as Definitive Notes. 
 Section 2.11. Cancellation. The
Issuers at any time may deliver Notes to the Trustee for cancellation. The Registrar and each Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else
shall cancel all Notes surrendered for registration of transfer, exchange, payment or cancellation and shall dispose of canceled Notes in accordance with its customary procedures or deliver canceled Notes to the Issuers pursuant to written direction
by an Officer. The Issuers may not issue new Notes to replace Notes they have redeemed, paid or delivered to the Trustee for cancellation. The Trustee shall not authenticate Notes in place of canceled Notes other than pursuant to the terms of this
Indenture. 
 Section 2.12. Defaulted Interest. If the Issuers default in a payment of interest on the Dollar Notes, the
Issuers shall pay the defaulted interest then borne by the Notes (plus interest on such defaulted interest to the extent lawful), in any lawful manner. The Issuers may pay the defaulted interest to the Persons who are Holders on a subsequent special
record date. The Issuers shall fix or cause to be fixed any such special record date and payment date to the reasonable satisfaction of the Trustee and shall promptly mail or cause to be mailed to each affected Holder a notice that states the
special record date, the payment date and the amount of defaulted interest to be paid. 
 Section 2.13. CUSIP Numbers, ISINs,
etc. The Issuers in issuing the Notes may use CUSIP numbers, ISINs and “Common Code” numbers (if then generally in use) and, if so, the Trustee shall use CUSIP numbers, ISINs and “Common Code” numbers in notices of redemption
as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness of such numbers, either as printed on the Notes or as contained in any notice of a redemption that reliance
may be placed only on the other identification numbers printed on the Notes and that any such redemption shall not be affected by any defect in or omission of such numbers. The Issuers shall advise the Trustee of any change in the CUSIP numbers,
ISINs and “Common Code” numbers. 
 ARTICLE 3 

REDEMPTION 

Section 3.01. Optional Redemption. The Notes may be redeemed, in whole or in part, at any time prior to October 1, 2014, at
the option of the Issuers upon not less than 30 nor more than 60 days’ prior notice mailed by first-class mail to each Holder’s registered address, at a redemption price equal to 100% of the principal amount of the Notes redeemed plus the
Applicable Premium as of, and accrued and unpaid interest and Additional Interest, if any, to, the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest
payment date). 
  

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 On or after October 1, 2014, the Issuers may redeem all or a part of the Notes upon not
less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest and Additional Interest, if any, on the Notes to be redeemed, if any, to the
applicable redemption date, if redeemed during the twelve-month period beginning on October 1 of the years indicated below: 
  

				
	 Year
	  	Percentage	 
	 2014
	  	104.125	% 
	 2015
	  	102.063	% 
	 2016 and thereafter
	  	100.000	% 

 Section 3.02.
Redemption with Proceeds of Equity Offerings. At any time on or prior to October 1, 2013, the Issuers may, on any one or more occasions, redeem up to 40% of the aggregate principal amount of the Notes issued under this Indenture at a
redemption price of 108.250% of the principal amount of the Notes, plus accrued and unpaid interest and Additional Interest, if any, to the redemption date, in each case, with the net cash proceeds of one or more Equity Offerings, provided
that: 
 (1) at least 60% of the aggregate principal amount of Notes issued under this Indenture remains
outstanding immediately after the occurrence of such redemption (excluding Notes held by the Company and its Subsidiaries); and 

(2) the redemption occurs within 120 days of the date of the closing of such Equity Offering. 

Section 3.03. Method and Effect of Redemption. (a) If the Issuers elect to redeem Notes, they must notify the Trustee of the
redemption date, the principal amount of Notes to be redeemed and the redemption price by delivering an Officer’s Certificate and an Opinion of Counsel, to the effect that such redemption shall comply with the conditions set forth in this
Article 3, 40 to 60 days before the redemption date (unless a shorter period is satisfactory to the Trustee). The Trustee shall select the Notes to be redeemed in compliance with the principal national securities exchange, if any, on which the Notes
are listed, or if such Notes are not so listed, on a pro rata basis, by lot or by any other method the Trustee in its sole discretion deems fair and appropriate, in denominations of $2,000 principal amount or an integral multiple of $1,000 in excess
thereof. The Trustee shall notify the Issuers promptly of the Notes or portions of Notes to be called for redemption. Any such notice may be cancelled at any time prior to notice of such redemption being mailed to any Holder and shall thereby be
void and of no effect. 
 (b) Notice of redemption must be sent by the Issuers or at the Issuers’ request, by the Trustee
in the name and at the expense of the Issuer, to Holders whose Notes are to be redeemed at least 30 but not more than 60 days before the redemption date, except that redemption notices may be mailed more than 60 days prior to a redemption date if
the notice is issued in connection with Section 8.01 or Section 8.02 of this Indenture. The notice of redemption will identify the Notes to be redeemed and will include or state the following: 

(i) the redemption date; 
  

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 (ii) the redemption price including the portion thereof representing any
accrued interest or Additional Interest, if any; 
 (iii) the names and addresses of the Paying Agents where
Notes are to be surrendered; 
 (iv) notes called for redemption must be surrendered to a Paying Agent in order
to collect the redemption price and any accrued interest or Additional Interest; 
 (v) on the redemption date
the redemption price will become due and payable on Notes called for redemption and interest on Notes called for redemption will cease to accrue on and after the redemption date; 

(vi) if fewer than all the outstanding Notes are to be redeemed, the certificate numbers and principal amounts of the
particular Notes to be redeemed, the aggregate principal amount of Notes to be redeemed and the aggregate principal amount of Notes to be outstanding after such partial redemption; 

(vii) if any Note is to be redeemed in part only, the portion of the principal amount of that Note that is to be redeemed;

 (viii) if any Note is to be redeemed in part, on and after the redemption date, upon surrender of such Note,
new Notes equal in principal amount to the unredeemed part will be issued; 
 (ix) the CUSIP number, ISIN and/or
“Common Code” number, if any, printed on the Notes being redeemed; and 
 (x) that no representation is
made as to the correctness or accuracy of the CUSIP number or CINS number, or “common number” listed in such notice or printed on the Notes and that the Holder should rely only on the other identification numbers printed on the Notes.

 (c) Once notice of redemption pursuant to this Section 3.03 is mailed to the Holders, Notes called for redemption become
due and payable on the redemption date and at the redemption price stated in the notice. Upon surrender to any Paying Agent, the Issuers shall redeem such Notes at the redemption price. Commencing on the redemption date, Notes redeemed will cease to
accrue interest; provided, however, that if the redemption date is after a regular record date and on or prior to the interest payment date, the accrued interest and Additional Interest, if any, shall be payable to the Holder of the
redeemed Notes registered on the relevant record date. Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. Upon surrender of any Note redeemed in part, the holder will
receive a new note equal in principal amount to the unredeemed portion of the surrendered Note. 
 (d) Any notice of any
redemption may be given prior to the redemption thereof. Notice of any redemption upon any Equity Offering or in connection with a transaction (or series of related transactions) that constitutes a Change of Control may be given prior to the
redemption 
  

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thereof, and any such redemption or notice may, at the Company’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of the related Equity
Offering or Change of Control, as the case may be. 
 Section 3.04. Deposit of Redemption Price. Prior to 10:00 a.m., New
York City time, on the redemption date, the Issuers shall deposit with the Paying Agent (or, if the Company or a Subsidiary is a Paying Agent, shall segregate and hold in trust) money sufficient to pay the redemption price of and accrued interest on
all Notes or portions thereof to be redeemed on that date other than Notes or portions of Notes called for redemption that have been delivered by the Issuers to the Trustee for cancellation. On and after the redemption date, interest shall cease to
accrue on Notes or portions thereof called for redemption so long as the Issuers has deposited with the Paying Agent funds sufficient to pay the principal of, plus accrued and unpaid interest on, the Notes to be redeemed, unless a Paying Agent is
prohibited from making such payment pursuant to the terms of this Indenture. 
 ARTICLE 4 

COVENANTS 

Section 4.01. Payment of Notes. (a) The Issuers agree to pay the principal of and interest on the Notes on the dates and in the
manner provided in the Notes and this Indenture. Not later than 9:00 A.M. (New York City time) on the due date of any principal of or interest on any Notes, or any redemption or purchase price of the Notes, the Issuers will deposit with the Trustee
(or Paying Agent) money in immediately available funds sufficient to pay such amounts; provided that if the Issuers are acting as Paying Agent, they will, on or before each due date, segregate and hold in a separate trust fund for the benefit
of the Holders a sum of money sufficient to pay such amounts until paid to such Holders or otherwise disposed of as provided in this Indenture. In each case the Issuers will promptly notify the Trustee of their compliance with this paragraph. An
installment of principal or interest will be considered paid on the date due if the Trustee (or Paying Agent, other than the Issuers) holds on that date money designated for and sufficient to pay the installment. If the Issuers act as Paying Agent,
an installment of principal or interest will be considered paid on the due date only if paid to the Holders. 
 (b) The Issuers
shall pay interest on overdue principal at the rate specified therefor in the Notes, and they shall pay interest on overdue installments of interest at the same rate borne by the Notes to the extent lawful. 

Section 4.02. Reports and Other Information. Whether or not required by the Commission, so long as any Notes are outstanding, the
Company shall either file with the Commission or furnish to the Holders of Notes, within 45 days after the end of each of the first three fiscal quarters of each fiscal year, or, in the case of annual financial information, within 90 days
after the end of each fiscal year, all quarterly and annual financial information that would be required to be contained in a filing with the Commission on Forms 10-Q and 10-K, respectively, if the Company were required to file such Forms,
including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual information only, a report on the annual financial statements by the Company’s certified
independent accountants. 
  

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 In addition, whether or not required by the Commission, the Company shall file a copy
of all of the information and reports referred to above with the Commission for public availability within the time periods specified above (unless the Commission will not accept such a filing) and shall make such information available to securities
analysts and prospective investors upon request. In addition, the Company has agreed that, for so long as any Notes remain outstanding, it shall furnish to the Holders of such Notes and to securities analysts and prospective investors, upon their
request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 So long as:

 (i) any parent entity of the Company is a Guarantor (there being no obligation of any parent entity to do so),
holds no material assets other than cash, Cash Equivalents and the Capital Stock of the Company (and performs the related incidental activities associated with such ownership), 

(ii) such parent entity complies with the requirements of Rule 3-10 of Regulation S-X promulgated by the Commission (or
any successor provision), and 
 (iii) the rules and regulations of the Commission permit the Company and such
parent entity to report at such parent entity’s level on a consolidated basis, 
 the reports, information and other documents required to
be filed and furnished to Holders of the Notes pursuant to this Section 4.02 may, at the option of the Company, be filed by and be those of such parent entity rather than the Company. 

Notwithstanding the foregoing, the requirements described in this Section 4.02 shall be deemed satisfied prior to the commencement
of the Registered Exchange Offer pursuant to the Registration Rights Agreement or the effectiveness of the Shelf Registration Statement contemplated thereby by the filing with the Commission of the Exchange Offer Registration Statement and/or Shelf
Registration Statement, and any amendments thereto, with such financial information that satisfies Regulation S-X of the Securities Act. 

Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of
such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuers’ compliance with any of their covenants hereunder (as to which the Trustee is entitled
to rely exclusively (subject to Article 7 hereof) on Officer’s Certificates). 
 Section 4.03. Limitation on Incurrence
of Indebtedness and Issuance of Preferred Stock. (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly
liable, contingently or otherwise (collectively, “incur”), with respect to any Indebtedness (including Acquired Debt), and the Company will not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock;
provided, however, that the Company and any Restricted Subsidiary may incur Indebtedness (including Acquired Debt) and any Restricted Subsidiary may issue Preferred Stock if the Fixed Charge Coverage Ratio for the Company’s most
recently 
  

 -44- 

 
ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Preferred Stock is
issued would have been at least 2.00 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or the Preferred Stock had been issued, as the case
may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period. 
 (b) The
limitations set forth in Section 4.03(a) shall not prohibit the incurrence of any of the following (collectively, “Permitted Debt”): 

(i) Indebtedness under Credit Facilities together with the incurrence of the guarantees thereunder and the issuance and
creation of letters of credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof), up to an aggregate principal amount of $2,200
million outstanding at any one time less the amount of all mandatory principal payments of term loans and permanent reductions in the revolving credit portion of the Credit Facilities actually made by the borrower thereunder with Net Proceeds from
Asset Sales; 
 (ii) Existing Indebtedness (other than Indebtedness described in clause (i)); 

(iii) Indebtedness (including Capitalized Lease Obligations) incurred or issued by the Company or any Restricted
Subsidiary to finance the purchase, lease or improvement of property (real or personal) or equipment that is used or useful in a Permitted Business (whether through the direct purchase of assets or the Capital Stock of any Person owning such assets)
in an aggregate principal amount that, when aggregated with the principal amount of all other Indebtedness then outstanding and incurred pursuant to this clause (iii), does not exceed 7.5% of Total Assets; 

(iv) Indebtedness incurred by the Company or any Restricted Subsidiary constituting reimbursement obligations with respect
to letters of credit issued in the ordinary course of business, including without limitation letters of credit in respect of workers’ compensation claims, health, disability or other employee benefits or property, casualty or liability
insurance or self-insurance or other Indebtedness with respect to reimbursement-type obligations regarding workers’ compensation claims; 

(v) Indebtedness arising from agreements of the Company or a Restricted Subsidiary providing for indemnification,
adjustment of purchase price or similar obligations, in each case, incurred or assumed in connection with the disposition of any business, assets or a Subsidiary, other than guarantees of Indebtedness incurred by any Person acquiring all or any
portion of such business, assets or a Subsidiary for the purpose of financing such acquisition; provided, however, that such Indebtedness is not reflected on the balance sheet (other than by application of Accounting Standards
Codification 460, “Guarantees” or as a result of an amendment to an obligation in existence on the Issue Date) of the Company or any Restricted Subsidiary (contingent obligations referred to in a footnote to financial statements and not
otherwise reflected on the balance sheet will not be deemed to be reflected on such balance sheet for purposes of this clause (v)); 
  

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 (vi) Indebtedness of the Company owed to and held by any Restricted
Subsidiary or Indebtedness of a Restricted Subsidiary owed to and held by the Company or any Restricted Subsidiary; provided, however, that (A) any subsequent issuance or transfer of any Capital Stock or any other event that
results in any Restricted Subsidiary that is owed and holds such Indebtedness ceasing to be a Restricted Subsidiary or any subsequent transfer of any such Indebtedness (except to the Company or a Restricted Subsidiary) shall be deemed, in each case,
to constitute the incurrence of such Indebtedness by the issuer thereof not permitted under this clause (vi)(A) and (B) if the Company or any Guarantor is the obligor on such Indebtedness owing to a Restricted Subsidiary that is not a
Guarantor, such Indebtedness is expressly subordinated to the prior payment in full in cash of all obligations of the Company with respect to the Notes or of such Guarantor with respect to its Guarantee; 

(vii) shares of Preferred Stock of a Restricted Subsidiary issued to the Company or a Restricted Subsidiary;
provided that any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary that holds such Preferred Stock ceasing to be a Restricted Subsidiary or any other subsequent transfer of any
such shares of Preferred Stock (except to the Company or a Restricted Subsidiary) shall be deemed in each case to be an issuance of such shares of Preferred Stock not permitted under this clause (vii); 

(viii) Hedging Obligations of the Company or any Restricted Subsidiary (excluding Hedging Obligations entered into for
speculative purposes); 
 (ix) obligations in respect of performance, bid, appeal and surety bonds and
performance and completion guarantees provided by the Company or any Restricted Subsidiary or obligations in respect of letters of credit related thereto, in each case in the ordinary course of business or consistent with past practice; 

(x) Indebtedness of the Company or any Restricted Subsidiary or Preferred Stock of any Restricted Subsidiary not otherwise
permitted hereunder in an aggregate principal amount or liquidation preference which, when aggregated with the principal amount and liquidation preference of all other Indebtedness and Preferred Stock then outstanding and incurred pursuant to this
clause (x), does not at any one time outstanding exceed $150.0 million (it being understood that any Indebtedness or Preferred Stock incurred pursuant to this clause (x) shall cease to be deemed incurred or outstanding for purposes of this
clause (x) but shall be deemed incurred for the purposes of the first paragraph of this covenant from and after the first date on which the Company or such Restricted Subsidiary could have incurred such Indebtedness or Preferred Stock under the
first paragraph of this covenant without reliance on this clause (x)); 
 (xi) any guarantee by the Company or a
Guarantor of Indebtedness or other obligations of any Restricted Subsidiary so long as the incurrence of such Indebtedness incurred by such Restricted Subsidiary is permitted under the terms of this Indenture; 

(xii) the incurrence by the Company or any Restricted Subsidiary of Indebtedness or Preferred Stock that serves to refund
or refinance any Indebtedness incurred as 
  

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permitted under Section 4.03(a) and clause (ii) above, this clause (xii) and clause (xiii) below or any Indebtedness issued to so refund or refinance such Indebtedness
including additional Indebtedness incurred to pay premiums, defeasance costs and fees in connection therewith (the “Refinancing Indebtedness”) prior to its respective maturity; provided, however, that such Refinancing
Indebtedness (A) has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is incurred which is not less than the remaining Weighted Average Life to Maturity of the Indebtedness being refunded or refinanced, (B) to
the extent such Refinancing Indebtedness refinances Indebtedness subordinated to or pari passu with the Notes or a Guarantee thereof, such Refinancing Indebtedness is subordinated to or pari passu with the Notes or a Guarantee thereof at least to
the same extent as the Indebtedness being refinanced or refunded, (C) shall not include Indebtedness or Preferred Stock of a Subsidiary that is not a Guarantor that refinances Indebtedness or Preferred Stock of the Company or a Guarantor,
(D) shall not be in a principal amount in excess of the principal amount of, premium, if any, defeasance costs, accrued interest on, and related fees and expenses of, the Indebtedness being refunded or refinanced and (E) shall not have a
stated maturity date prior to the Stated Maturity of the Indebtedness being refunded or refinanced; provided, further, that subclauses (A), (B) and (E) will not apply to any refunding or refinancing of any Indebtedness that
is secured by a Lien; 
 (xiii) Indebtedness or Preferred Stock of Persons that are acquired by the Company or
any Restricted Subsidiary or merged into the Company or a Restricted Subsidiary in accordance with the terms of this Indenture; provided that such Indebtedness or Preferred Stock is not incurred in connection with or in contemplation of such
acquisition or merger; and provided, further, that after giving effect to such acquisition or merger, either (A) the Company or such Restricted Subsidiary would be permitted to incur at least $1.00 of additional Indebtedness
pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.03(a) or (B) the Fixed Charge Coverage Ratio would be equal to or greater than immediately prior to such acquisition; 

(xiv) Indebtedness arising from the honoring by a bank or financial institution of a check, draft or similar instrument
drawn against insufficient funds in the ordinary course of business; provided that such Indebtedness, other than credit or purchase cards, is extinguished within five business days of its incurrence; 

(xv) Indebtedness of the Company or any Restricted Subsidiary of the Company supported by a letter of credit issued
pursuant to a Credit Agreement in a principal amount not in excess of the stated amount of such letter of credit; 

(xvi) Contribution Indebtedness; 

(xvii) Indebtedness consisting of the financing of insurance premiums; 

(xviii) Indebtedness of Foreign Subsidiaries; provided, however, that the aggregate principal amount of
Indebtedness incurred under this clause (xviii) which, when aggregated with the principal amount of all other Indebtedness then outstanding and incurred pursuant to this clause (xviii), does not exceed $75.0 million; 

 

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 (xix) Indebtedness incurred on behalf of or representing Guarantees of
Indebtedness of joint ventures not in excess of $25.0 million at any time outstanding; 
 (xx) Indebtedness
incurred by a Securitization Subsidiary in a Qualified Securitization Financing that is not recourse to the Company or any Restricted Subsidiary of the Company other than a Securitization Subsidiary (except for Standard Securitization Undertakings);
and 
 (xxi) all premium (if any), interest (including post-petition interest), fees, expenses, charges and
additional or contingent interest on obligations described in paragraphs (i) through (xx) above. 
 (c) For purposes
of determining compliance with this Section 4.03, in the event that an item of proposed Indebtedness meets the criteria of more than one of the categories of Permitted Debt described in clauses (i) through (xxi) above, or is entitled
to be incurred pursuant to Section 4.03(a), the Company will be permitted to classify and later reclassify such item of Indebtedness in any manner that complies with this Section 4.03, and such item of Indebtedness will be treated as
having been incurred pursuant to only one of such categories. Accrual of interest, the accretion of accreted value and the payment of interest in the form of additional Indebtedness will not be deemed to be an incurrence of Indebtedness for purposes
of this Section 4.03. Indebtedness under the Senior Secured Credit Agreement outstanding on November 24, 2009 will be deemed to have been incurred on such date in reliance on the exception provided by Section 4.03(b)(i). 

(d) For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness, the U.S.
dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the case of term Indebtedness, or first
committed, in the case of revolving credit Indebtedness; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable U.S. dollar-denominated
restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such
refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. 
 Section 4.04.
Limitation on Restricted Payments. (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly: 

(i) declare or pay any dividend or make any other payment or distribution on account of the Company’s or any of its
Restricted Subsidiaries’ Equity Interests, including any dividend or distribution payable in connection with any merger or consolidation (other than (A) dividends or distributions by the Company payable in Equity Interests (other than
Disqualified Stock) of the Company or (B) dividends or distributions by a Restricted Subsidiary to the Company or any other Restricted Subsidiary so long as, in the case of any dividend or distribution payable on or in respect of any class or
series of securities issued by a Restricted Subsidiary other than a Wholly Owned Subsidiary, the 
  

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Company or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance with its Equity Interests in such class or series of securities);

 (ii) purchase, redeem or otherwise acquire or retire for value any Equity Interests of the Company or any
direct or indirect parent corporation of the Company, including in connection with any merger or consolidation involving the Company; 

(iii) make any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value, in each case
prior to any scheduled repayment, scheduled sinking fund payment or scheduled maturity, any Indebtedness subordinated or junior in right of payment to the Notes (other than (x) Indebtedness permitted under Section 4.03 (b) (ii),
(vi) or (vii) or (y) the purchase, repurchase or other acquisition of Indebtedness subordinated or junior in right of payment to the Notes, purchased in anticipation of satisfying a sinking fund obligation, principal installment or
final maturity, in each case due within one year of the date of purchase, repurchase or acquisition); or 
 (iv)
make any Restricted Investment 
 (all such payments and other actions set forth in clauses (i) through (iv) above being collectively
referred to as “Restricted Payments”), unless, at the time of and after giving effect to such Restricted Payment: 

(1) no Default or Event of Default shall have occurred and be continuing or would occur as a consequence of such
Restricted Payment; and 
 (2) the Company would, at the time of such Restricted Payment and after giving pro
forma effect thereto as if such Restricted Payment had been made at the beginning of the applicable four-quarter period, have been permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set
forth in Section 4.03(a); and 
 (3) such Restricted Payment, together with the aggregate amount of all
other Restricted Payments made by the Company and the Restricted Subsidiaries after November 24, 2009 (excluding Restricted Payments permitted by clauses (i) but only to the extent such Restricted Payment would have otherwise been
excluded, (ii), (iii), (iv), (v), (vi), (viii), (ix), (x), (xi), (xii), (xiii), (xiv) and (xv) of Section 4.04(b)), is less than the sum, without duplication, of: 

(A) 50% of the Consolidated Net Income of the Company for the period (taken as one accounting period) from January 1,
2005 to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, in the case such Consolidated Net Income for such period is a deficit, minus
100% of such deficit), plus 
 (B) 100% of the aggregate net cash proceeds and the fair market value, as
determined in good faith by the Board of Directors of the Company, of prop-
  

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erty and marketable securities received by the Company since October 7, 2004, from the issue or sale of (x) Equity Interests of the Company (including Retired Capital Stock (as defined
below)) (other than (i) Excluded Contributions, (ii) Designated Preferred Stock, (iii) cash proceeds and marketable securities received from the sale of Equity Interests to members of management, directors or consultants of the
Company or any direct or indirect parent corporation of the Company and the Subsidiaries to the extent such amounts have been applied to Restricted Payments made in accordance with Section 4.04(b)(iv) and (iv) Refunding Capital Stock (as
defined below) and, to the extent actually contributed to the Company, Equity Interests of the Company’s direct or indirect parent entities) and (y) debt securities of the Company that have been converted into such Equity Interests of the
Company (other than Refunding Capital Stock or Equity Interests or convertible debt securities of the Company sold to a Restricted Subsidiary or the Company, as the case may be, and other than Disqualified Stock or debt securities that have been
converted into Disqualified Stock), plus 
 (C) 100% of the aggregate amount of cash and the fair market value,
as determined in good faith by the Board of Directors of the Company, of property and marketable securities contributed to the capital of the Company following October 7, 2004 (other than (i) Excluded Contributions, (ii) the Cash
Contribution Amount, (iii) contributions by a Restricted Subsidiary and (iv) Refunding Capital Stock), plus 

(D) 100% of the aggregate amount received in cash and the fair market value, as determined in good faith by the Board of
Directors of the Company, of property and marketable securities received by means of (I) the sale or other disposition (other than to the Company or a Restricted Subsidiary) of Restricted Investments made by the Company or its Restricted
Subsidiaries and repurchases and redemptions of such Restricted Investments from the Company or its Restricted Subsidiaries and repayments of loans or advances which constitute Restricted Investments by the Company or its Restricted Subsidiaries or
(II) the sale (other than to the Company or a Restricted Subsidiary) of the Capital Stock of an Unrestricted Subsidiary or a distribution from an Unrestricted Subsidiary (other than in each case to the extent the Investment in such Unrestricted
Subsidiary was made by a Restricted Subsidiary pursuant to clause (v) or (xiii) of Section 4.04(b) or to the extent such Investment constituted a Permitted Investment) or a dividend from an Unrestricted Subsidiary, in each case not to
exceed in the aggregate amount treated as a Restricted Investment, plus 
 (E) in the case of the redesignation
of an Unrestricted Subsidiary as a Restricted Subsidiary or the merger or consolidation of an Unrestricted Subsidiary into the Company or a Restricted Subsidiary or the transfer of assets of an Unrestricted Subsidiary to the Company or a Restricted
Subsidiary, the fair market value of the Investment in such Unrestricted Subsidiary, as determined by the Board of Directors of the Company in good faith at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary or
at the time of such 
  

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merger, consolidation or transfer of assets (other than an Unrestricted Subsidiary to the extent the Investment in such Unrestricted Subsidiary was made by a Restricted Subsidiary pursuant to
clause (v) or (xiii) of Section 4.04(b) or to the extent such Investment constituted a Permitted Investment). 
 (b) The
provisions of Section 4.04(a) shall not prohibit: 
 (i) the payment of any dividend within 60 days after
the date of declaration thereof, if at the date of declaration such payment would have complied with the provisions of this Indenture; 

(ii) (A) the redemption, repurchase, retirement or other acquisition of any Equity Interests of the Company or any direct
or indirect parent entity (“Retired Capital Stock”) or Indebtedness subordinated to the Notes, as the case may be, in exchange for or out of the proceeds of the substantially concurrent sale (other than to a Restricted Subsidiary or
the Company) of Equity Interests of the Company or contributions to the equity capital of the Company (in each case, other than Disqualified Stock) (“Refunding Capital Stock”) and (B) the declaration and payment of accrued
dividends on the Retired Capital Stock out of the proceeds of the substantially concurrent sale (other than to a Restricted Subsidiary or the Company) of Refunding Capital Stock; 

(iii) the redemption, repurchase or other acquisition or retirement of Indebtedness subordinated to the Notes or a
Guarantee thereof made by exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of the borrower thereof, which is incurred in compliance with Section 4.03 so long as 

(A) the principal amount of such new Indebtedness does not exceed the principal amount of the Indebtedness subordinated to
the Notes or a Guarantee thereof being so redeemed, repurchased, acquired or retired for value plus the amount of any reasonable premium, defeasance costs and fees required to be paid under the terms of the instrument governing the Indebtedness
subordinated to the Notes or a Guarantee thereof being so redeemed, repurchased, acquired or retired, 
 (B) such
new Indebtedness is subordinated to the Notes or any such applicable Guarantee at least to the same extent as such Indebtedness subordinated to such Notes and/or Guarantee so purchased, exchanged, redeemed, repurchased, acquired or retired for
value, 
 (C) such new Indebtedness has a final scheduled maturity date equal to or later than the final
scheduled maturity date of the Indebtedness subordinated to such Notes or a Guarantee thereof being so redeemed, repurchased, acquired or retired and 

(D) such new Indebtedness has a Weighted Average Life to Maturity equal to or greater than the remaining Weighted Average
Life to Maturity of the Indebtedness subordinated to such Notes or a Guarantee thereof being so redeemed, repurchased, acquired or retired; 
  

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 (iv) a Restricted Payment to pay for the repurchase, retirement or other
acquisition or retirement for value of common Equity Interests of the Company or any of its direct or indirect parent entities held by any future, present or former employee, director or consultant of the Company, any of its Subsidiaries or (to the
extent such person renders services to the businesses of the Company and its Subsidiaries) the Company’s direct or indirect parent entities, pursuant to any management equity plan or stock option plan or any other management or employee benefit
plan or agreement or arrangement; provided, however, that the aggregate amount of all such Restricted Payments made under this clause (iv) does not exceed in any calendar year $10.0 million (with unused amounts in any calendar
year being carried over to the next two succeeding calendar years); and provided, further, that such amount in any calendar year may be increased by an amount not to exceed: 

(A) the cash proceeds from the sale of Equity Interests of the Company and, to the extent contributed to the Company,
Equity Interests of any of its direct or indirect parent entities, in each case to members of management, directors or consultants of the Company, any of its Subsidiaries or (to the extent such person renders services to the businesses of the
Company and its Subsidiaries) the Company’s direct or indirect parent entities, that occurs after the date of this Indenture, plus 

(B) the amount of any cash bonuses otherwise payable by the Company or to its members of management, directors or
consultants of the Company or any of its Subsidiaries or (to the extent such person renders services to the businesses of the Company and its Subsidiaries) the Company’s direct or indirect parent entities that are foregone in return for the
receipt of Equity Interests of the Company or any direct or indirect parent entity of the Company pursuant to a deferred compensation plan of such entity, plus 

(C) the cash proceeds of key man life insurance policies received by the Company or its Restricted Subsidiaries, or by any
direct or indirect parent entity to the extent contributed to the Company, after the date of this Indenture (provided that the Company may elect to apply all or any portion of this aggregate increase contemplated by clauses (A), (B) and
(C) above in any calendar year), less 
 (D) the amount of any Restricted Payments previously made pursuant
to clauses (A), (B) and (C) of this clause (iv); 
 (v) Investments in Unrestricted Subsidiaries having
an aggregate fair market value, taken together with all other Investments made pursuant to this clause (v) that are at the time outstanding, without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale
do not consist of cash and/or marketable securities, not to exceed the greater of (i) 2.0% of Total Assets and (ii) $50.0 million at the time of such Investment (with the fair market value of each Investment being measured at the time made
and without giving effect to subsequent changes in value); 
  

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 (vi) repurchases of Equity Interests deemed to occur upon exercise of stock
options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants; 

(vii) the payment of dividends on the Company’s common stock (or the payment of dividends to any direct or indirect
parent entity to fund a payment of dividends on such entity’s common stock) of up to 6.0% per annum of the net proceeds received by or contributed to the Company in any public offering, other than public offerings with respect to the
Company’s or its parent’s common stock registered on Form S-8 and other than any public sale constituting an Excluded Contribution; 

(viii) Investments that are made with Excluded Contributions; 

(ix) the declaration and payment of dividends to, or the making of loans to, any direct or indirect parent entity in
amounts required for it to pay: 
 (A) (i) overhead, tax liabilities of such parent entity (including any
distribution necessary to allow such parent entity to make a Tax Distribution in accordance with clause (B) below), legal, accounting and other professional fees and expenses, (ii) fees and expenses related to any equity offering,
investment or acquisition permitted hereunder (whether or not successful) and (iii) other fees and expenses in connection with the maintenance of its existence and its ownership of the Company; and 

(B) (i) with respect to each tax year (or portion thereof) that such parent entity qualifies as a Flow Through Entity, a
distribution by such parent entity to the holders of the Equity Interests of such parent entity of an amount equal to the product of (x) the amount of aggregate net taxable income allocated by such parent entity to the direct or indirect
holders of the Equity Interests of such parent entity for such period and (y) the Presumed Tax Rate for such period and (ii) with respect to any tax year (or portion thereof) that such parent entity does not qualify as a Flow Through
Entity, the payment of dividends or other distributions to any direct or indirect holders of Equity Interests of such parent entity in amounts required for such holder to pay federal, state or local income taxes (as the case may be) imposed directly
on such holder to the extent such income taxes are attributable to the income of the Company and its Restricted Subsidiaries; provided, however, that in each case the amount of such payments in respect of any tax year does not exceed
the amount that the Company and its Restricted Subsidiaries would have been required to pay in respect of federal, state or local taxes (as the case may be) in respect of such year if such parent entity and its Subsidiaries paid such taxes directly
as a stand alone taxpayer (or stand alone group); 
 (x) distributions or payments of Securitization Fees;

 (xi) cash dividends or other distributions on the Company’s or any Restricted Subsidiary’s Capital
Stock used to, or the making of loans, the proceeds of which will be used to, fund the payment of fees and expenses incurred in connection with the initial of-

 

 -53- 

 
fering of the Original Notes or owed to Affiliates, in each case to the extent permitted by Section 4.07; 

(xii) declaration and payment of dividends to holders of any class or series of Disqualified Stock of the Company or any
Restricted Subsidiary issued in accordance with Section 4.03 to the extent such dividends are included in the definition of Fixed Charges; 

(xiii) other Restricted Payments in an aggregate amount not to exceed the greater of (i) 2.0% of Total Assets and
(ii) $50.0 million; 
 (xiv) the declaration and payment of dividends or distributions to holders of any
class or series of Designated Preferred Stock issued after the date of this Indenture and the declaration and payment of dividends to any direct or indirect parent company of the Company, the proceeds of which will be used to fund the payment of
dividends to holders of any class or series of Designated Preferred Stock of any direct or indirect parent company of the Company issued after the date of this Indenture; provided, however, that for the most recently ended four full
fiscal quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock, after giving effect to such issuance on the first day of such period (and the payment of dividends
or distributions) on a pro forma basis, the Company would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00; 

(xv) the distribution, as a dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed to the Company or a
Restricted Subsidiary of the Company by, Unrestricted Subsidiaries; and 
 (xvi) the repurchase, redemption or
other acquisition or retirement for value of any Subordinated Indebtedness pursuant to Sections 4.06 and 4.08; provided that all Notes duly tendered by the Holders in connection with the related Change of Control Offer or Asset Sale Offer, as
applicable, have been repurchased, redeemed or acquired for value; 
 provided, however, that at the time of, and after giving
effect to, any Restricted Payment permitted under clauses (v), (vii), (xiii) and (xv) of this Section 4.04(b), no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof. 

The amount of all Restricted Payments (other than cash) will be the fair market value on the date of the Restricted Payment of the
asset(s) or securities proposed to be transferred or issued by the Company or such Subsidiary, as the case may be, pursuant to the Restricted Payment. The fair market value of any assets or securities that are required to be valued by this covenant
will be determined in good faith by the Board of Directors of the Company. 
 (c) The Company will not permit any Unrestricted
Subsidiary to become a Restricted Subsidiary except pursuant to the second to last sentence of the definition of “Unrestricted Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all
outstanding investments by the Company and the Restricted Subsidiaries (except to the extent 
  

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repaid) in the Subsidiary so designated will be deemed to be Restricted Payments in an amount determined as set forth in the second paragraph of the definition of “Investments.” Such
designation will be permitted only if a Restricted Payment in such amount would be permitted at such time under this covenant or the definition of Permitted Investments and if such Subsidiary otherwise meets the definition of an Unrestricted
Subsidiary. Unrestricted Subsidiaries will not be subject to any of the restrictive covenants under this Indenture or the Notes. 

Section 4.05. Dividend and Other Payment Restrictions Affecting Subsidiaries. The Company will not, and will not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or permit to exist or become effective any consensual encumbrance or restriction on the ability of any such Restricted Subsidiary to: 

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

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

(c) sell, lease or transfer any of its properties or assets to the Company or any of its Restricted Subsidiaries;

 however, the preceding restrictions shall not apply to encumbrances or restrictions existing under or by reason of: 

(1) contractual encumbrances or restrictions (x) in effect on the date of this Indenture, including, without
limitation, pursuant to this Indenture, Existing Indebtedness or the Senior Secured Credit Agreement and related documentation, or (y) entered into thereafter so long as not materially more restrictive than those described in the preceding
clause (x); 
 (2) purchase money obligations for property acquired in the ordinary course of business that
impose restrictions of the nature discussed in clause (c) above on the property so acquired; 
 (3)
applicable law or any applicable rule, regulation or order; 
 (4) any agreement or other instrument of a Person
acquired by the Company or any Restricted Subsidiary in existence at the time of such acquisition (but not created in contemplation thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any
Person, other than the Person, or the property or assets of the Person, so acquired; 
 (5) contracts for the
sale of assets, including, without limitation, customary restrictions with respect to a Subsidiary pursuant to an agreement that has been entered 

 

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into for the sale or disposition of all or substantially all of the Capital Stock or assets of such Subsidiary; 

(6) secured Indebtedness otherwise permitted to be incurred pursuant to Sections 4.03 and 4.11 that limits the right of
the debtor to dispose of the assets securing such Indebtedness; 
 (7) restrictions on cash or other deposits or
net worth imposed by customers under contracts entered into in the ordinary course of business; 
 (8) other
Indebtedness of Restricted Subsidiaries (i) that are Guarantors which Indebtedness is permitted to be incurred pursuant to an agreement entered into subsequent to the date of this Indenture in accordance with Section 4.03 or (ii) that
are Foreign Subsidiaries which Indebtedness is incurred subsequent to the date of this Indenture pursuant to Section 4.03; 

(9) customary provisions in joint venture agreements and other similar agreements entered into in the ordinary course of
business; 
 (10) customary provisions contained in leases or licenses of intellectual property and other similar
agreements entered into in the ordinary course of business; 
 (11) customary provisions restricting subletting
or assignment of any lease governing a leasehold interest; 
 (12) customary provisions restricting assignment of
any agreement entered into in the ordinary course of business; 
 (13) any encumbrances or restrictions of the
type referred to in clauses (a), (b) and (c) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to
in clauses (1), (2), (4) and (8) above, provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Company’s
Board of Directors, no more restrictive with respect to such dividend and other payment restrictions than those contained in the dividend or other payment restrictions prior to such amendment, modification, restatement, renewal, increase,
supplement, refunding, replacement or refinancing; 
 (14) any encumbrance or restriction that is in the good
faith judgment of the Company necessary or advisable to effect the transactions contemplated under a Qualified Securitization Financing; provided, however, that such restrictions apply only to such Securitization Subsidiary; or

 (15) any encumbrances and restrictions that are no more restrictive, in the aggregate, than those in effect of
the date of this Indenture. 
  

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 Section 4.06. Asset Sales. (a) The Company will not, and will not permit any of its
Restricted Subsidiaries to, consummate an Asset Sale unless: 
 (1) the Company (or such Restricted Subsidiary,
as the case may be) receives consideration at the time of the Asset Sale at least equal to the fair market value of the assets or Equity Interests issued or sold or otherwise disposed of; and 

(2) except in the case of a Permitted Asset Swap, at least 75% of the consideration received in the Asset Sale by the
Company or such Restricted Subsidiary is in the form of cash or Cash Equivalents. 
 The amount of: 

(i) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet or in
the notes thereto) of the Company or any Restricted Subsidiary (other than liabilities that are by their terms subordinated to the Notes) that are assumed or satisfied by the transferee of any such assets and for which the Company and all Restricted
Subsidiaries have been validly released by all creditors in writing, 
 (ii) any securities received by the
Company or such Restricted Subsidiary from such transferee that are converted by the Company or such Restricted Subsidiary into cash (to the extent of the cash received) within 180 days following the receipt thereof, and 

(iii) any Designated Non-cash Consideration received by the Company or any of its Restricted Subsidiaries in such Asset
Sale having an aggregate fair market value (as determined in good faith by the Company), taken together with all other Designated Non-cash Consideration received pursuant to this clause (iii) that is at that time outstanding, not to exceed the
greater of (x) $100.0 million and (y) 3.0% of Total Assets at the time of the receipt of such Designated Non-cash Consideration (with the fair market value of each item of Designated Non-cash Consideration being measured at the time
received without giving effect to subsequent changes in value), 
 shall be deemed to be cash solely for the purposes of this
Section 4.06(a)(2). 
 (b) Within 365 days after the receipt of any Net Proceeds from an Asset Sale, the Company may apply
those Net Proceeds at its option to: 
 (i) permanently reduce Obligations under (x) the Senior Secured
Credit Agreement or other Obligations secured by a Lien, or (y) Indebtedness that ranks pari passu with the Notes or a Guarantee (provided that if the Company or a Guarantor shall so reduce Obligations under such Indebtedness, the
Issuers will equally and ratably reduce Obligations under the Notes by making an offer (in accordance with the procedures set forth below for an Asset Sale Offer) to all Holders of the Notes to purchase at a purchase price equal to 100% of the
principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, the pro rata principal amount of Notes) or Indebtedness of a Restricted Subsidiary that is not a Guarantor, in each case other than
Indebted-
  

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ness owed to the Company or an Affiliate of the Company (provided that in the case of any reduction of any revolving obligations, the Company or such Restricted Subsidiary shall effect a
corresponding reduction of commitments with respect thereto); 
 (ii) make an investment in (A) any one or
more businesses; provided that such investment in any business is in the form of the acquisition of Capital Stock and results in the Company or a Restricted Subsidiary owning an amount of the Capital Stock of such business such that it
constitutes a Restricted Subsidiary, (B) capital expenditures or (C) other assets, in each of (A), (B) and (C), used or useful in a Permitted Business; and/or 

(iii) make an investment in or expenditures for (A) any one or more businesses; provided that such investment
in any business is in the form of the acquisition of Capital Stock and it results in the Company or a Restricted Subsidiary owning an amount of the Capital Stock of such business such that it constitutes a Restricted Subsidiary, (B) properties
or (C) assets that, in each of (A), (B) and (C), replace the businesses, properties and assets that are the subject of such Asset Sale; 

provided that the 365-day period provided above to apply any portion of Net Proceeds in accordance with clause (ii) or (iii) above shall
be extended by an additional 180 days if by not later than the 365th day after receipt of such Net Proceeds the Company or a Restricted Subsidiary, as applicable, has entered into a bona fide binding commitment with a Person other than an Affiliate
of the Company to make an investment of the type referred to in either such clause in the amount of such Net Proceeds. 
 When
the aggregate amount of Net Proceeds not applied or invested in accordance with the preceding paragraph (“Excess Proceeds”) exceeds $20.0 million, the Issuers will make an Asset Sale Offer to all Holders of the Notes (an
“Asset Sale Offer”) to purchase on a pro rata basis the maximum principal amount of such Notes that may be purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to 100% of principal amount plus
accrued and unpaid interest and Additional Interest, if any, to the date of purchase, and will be payable in cash. The Issuers shall commence an Asset Sale Offer with respect to Excess Proceeds within ten (10) Business Days after the date that
Excess Proceeds exceed $20 million by mailing the notice required pursuant to the terms of Section 4.06(f), with a copy to the Trustee. 

Pending the final application of any Net Proceeds, the Company or such Restricted Subsidiary may temporarily reduce revolving credit
borrowings or otherwise invest the Net Proceeds in any manner that is not prohibited by this Indenture. 
 If any Excess
Proceeds remain after consummation of an Asset Sale Offer, the Company may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the aggregate principal amount of the Notes tendered into such Asset Sale Offer
exceeds the amount of Excess Proceeds, the Trustee will select the Notes to be purchased on a pro rata basis. Additionally, the Issuer may, at its option, make an Asset Sale Offer using proceeds from any Asset Sale at any time after the consummation
of such Asset Sale. Upon completion of each Asset Sale Offer, the amount of Excess Proceeds will be reset at zero. 
  

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 (c) The Issuers shall comply with the requirements of Rule 14e-1 under the Exchange Act and
any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with each repurchase of the Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or
regulations conflict with the Asset Sale provisions of this Indenture, the Issuers shall comply with the applicable securities laws and regulations and will not be deemed to have breached their obligations under the Asset Sale provisions of this
Indenture by virtue of such conflict. 
 (d) Not later than the date upon which written notice of an Asset Sale Offer is
delivered to the Trustee as provided above, the Issuers shall deliver to the Trustee an Officer’s Certificate as to (i) the amount of the Excess Proceeds, (ii) the allocation of the Net Proceeds from the Asset Sales pursuant to which
such Asset Sale Offer is being made and (iii) the compliance of such allocation with the provisions of Section 4.06(b). On such date, the Issuers shall also irrevocably deposit with the Trustee or with a Paying Agent (or, if the Company or
a Wholly Owned Subsidiary is acting as a Paying Agent, such Paying Agent shall segregate and hold in trust) an amount equal to the Excess Proceeds to be invested in Cash Equivalents, as directed in writing by the Issuer, and to be held for payment
in accordance with the provisions of this Section 4.06. Upon the expiration of the period for which the Asset Sale Offer remains open (the “Offer Period”), the Issuers shall deliver to the Trustee for cancellation the Notes or
portions thereof that have been properly tendered to and are to be accepted by the Issuers. The Trustee (or a Paying Agent, if not the Trustee) shall, on the date of purchase, mail or deliver payment to each tendering Holder in the amount of the
purchase price. In the event that the Excess Proceeds delivered by the Issuers to the Trustee is greater than the purchase price of the Notes tendered, the Trustee shall deliver the excess to the Issuers immediately after the expiration of the Offer
Period for application in accordance with Section 4.06. 
 (e) Holders electing to have a Note purchased shall be required
to surrender the Note, with an appropriate form duly completed, to the Issuers at the address specified in the notice at least three (3) Business Days prior to the purchase date. Holders shall be entitled to withdraw their election if the
Trustee or the Issuers receive not later than one (1) Business Day prior to the Purchase Date, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note which was delivered by the Holder for
purchase and a statement that such Holder is withdrawing his election to have such Note purchased. If at the end of the Offer Period more Notes are tendered pursuant to an Asset Sale Offer than the Issuers are required to purchase, selection of such
Notes for purchase shall be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which such Notes are listed, or if such Notes are not so listed, on a pro rata basis, by lot or by such
other method as the Trustee shall deem fair and appropriate (and in such manner as complies with applicable legal requirements); provided that no Notes of $1,000 or less shall be purchased in part. 

(f) Notices of an Asset Sale Offer shall be mailed by first class mail, postage prepaid, at least 30 but not more than 60 days before the
purchase date to each Holder of Notes at such Holder’s registered address. If any Note is to be purchased in part only, any notice of purchase that relates to such Note shall state the portion of the principal amount thereof that is to be
purchased. 
  

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 (g) A new Note in principal amount equal to the unpurchased portion of any Note purchased in
part shall be issued in the name of the Holder thereof upon cancellation of the original Note. On and after the purchase date, unless the Issuers default in payment of the purchase price, interest shall cease to accrue on Notes or portions thereof
purchased. 
 Section 4.07. Transactions with Affiliates. (a) The Company will not, and will not permit any of its
Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement,
understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate (each, an “Affiliate Transaction”) involving aggregate consideration in excess of $5.0 million, unless: 

(i) the Affiliate Transaction is on terms that are not materially less favorable, taken as a whole, to the Company or the
relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person on an arm’s-length basis; and 

(ii) the Company delivers to the Trustee, with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of $25.0 million, a resolution of the Board of Directors set forth in an Officer’s Certificate certifying that such Affiliate Transaction complies with this covenant and that such
Affiliate Transaction has been approved by a majority of the disinterested members, if any, of the Board of Directors. 
 (b)
The provisions of Section 4.07(a) shall not apply to the following: 
 (i) transactions between or among the
Company and/or any Restricted Subsidiary or any entity that becomes a Restricted Subsidiary as a result of such transaction; 

(ii) Restricted Payments and Permitted Investments (other than pursuant to clause (13) of the definition thereof)
permitted by Section 4.04; 
 (iii) the payment to Sponsors or any other Permitted Holder of annual
management, consulting, monitoring and advisory fees in an aggregate amount in any fiscal year not in excess of $5.0 million, plus reasonable out-of-pocket costs and expenses in connection therewith and unpaid amounts accrued for prior periods (but
after the date of this Indenture), and the execution of any management or monitoring agreement subject to the same limitations; 

(iv) the payment of reasonable and customary fees paid to, and indemnities provided on behalf of, officers, directors,
employees or consultants of the Company, any Restricted Subsidiary or (to the extent such person renders services to the businesses of the Company and its Subsidiaries) any of the Company’s direct or indirect parent entities; 

(v) payments by the Company or any Restricted Subsidiary to the Sponsors and any of their Affiliates made for any
financial advisory, financing, underwriting or placement services or in respect of other investment banking activities, including, without 

 

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limitation, in connection with acquisitions or divestitures, which payments are approved by a majority of the members of the Board of Directors of the Company in good faith; 

(vi) transactions in which the Company or any Restricted Subsidiary delivers to the Trustee a letter from an Independent
Financial Advisor stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view; 

(vii) payments or loans (or cancellations of loans) to employees or consultants of the Company, any Restricted Subsidiary
or (to the extent such person renders services to the businesses of the Company and its Subsidiaries) any of the Company’s direct or indirect parent entities, which are approved by a majority of the Board of Directors of the Company in good
faith and which are otherwise permitted under this Indenture; 
 (viii) payments made or performance under any
agreement as in effect on the date of this Indenture or any amendment thereto (so long as any such amendment is not less advantageous to the Holders of the Notes in any material respect than the original agreement as in effect on the date of this
Indenture); 
 (ix) the existence of, or the performance by the Company or any of its Restricted Subsidiaries of
its obligations under the terms of, the Recapitalization Agreement (including any registration rights agreement or purchase agreements related thereto to which it is party and any similar agreement that it may enter into thereafter);
provided, however, that the existence of, or the performance by the Company or any of its Restricted Subsidiaries of its obligations under any future amendment to the Recapitalization Agreement or under any similar agreement shall only
be permitted by this clause (ix) to the extent that the terms of any such amendment or new agreement are not otherwise disadvantageous to Holders of Notes in any material respect; 

(x) the payment of all fees and expenses related to the initial offering of the Original Notes; 

(xi) transactions with customers, clients, suppliers, or purchasers or sellers of goods or services, in each case in the
ordinary course of business and otherwise in compliance with the terms of this Indenture that are fair to the Company or the Restricted Subsidiaries, in the reasonable determination of the members of the Board of Directors of the Company or the
senior management thereof, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party; 

(xii) if otherwise permitted hereunder, the issuance of Equity Interests (other than Disqualified Stock) of any parent
entity to any Permitted Holder or of the Company to any parent entity or to any Permitted Holder; 
 (xiii) any
transaction effected as part of a Qualified Securitization Financing; 
 (xiv) any employment agreements entered
into by the Company or any of the Restricted Subsidiaries in the ordinary course of business; 
  

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 (xv) transactions with joint ventures for the purchase or sale of materials,
equipment and services entered into in the ordinary course of business and in a manner consistent with past practice; and 

(xvi) any issuance of securities, or other payments, awards or grants in cash, securities or otherwise pursuant to, or the
funding of, employment arrangements, stock options and stock ownership plans approved by the Board of Directors of the Company. 

Section 4.08. Change of Control. (a) Upon a Change of Control, each holder of Notes will have the right to require the Issuers to
repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes pursuant to a Change of Control Offer in accordance with the terms contemplated in this Section 4.08. In the Change of
Control Offer, the Issuers shall offer a Change of Control Payment in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest and Additional Interest, if any, on the Notes repurchased, to the date
of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date) (the “Change of Control Payment”). The Issuers will publicly announce the results of
the Change of Control Offer on or as soon as practicable after the Change of Control Purchase Date. 
 (b) Within 30 days
following any Change of Control, except to the extent that the Issuers have exercised their right to redeem the Notes in accordance with Article 3 of this Indenture, the Issuers shall mail a notice (a “Change of Control Offer”) to
each Holder with a copy to the Trustee stating: 
 (i) that a Change of Control has occurred and that such Holder
has the right to require the Issuers to purchase all or a portion of such Holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest to the date of purchase (subject to the right
of Holders of record on the relevant record date to receive the interest due on the relevant payment date); 

(ii) the circumstances and relevant facts and financial information regarding such Change of Control; 

(iii) the purchase date (the “Change of Control Purchase Date”) (which shall be no earlier than 30 days
nor later than 60 days from the date such notice is mailed); and 
 (iv) the instructions determined by the
Issuers consistent with this Section, that a Holder must follow in order to have its Notes purchased. 
 (c) Holders electing to
have a Note purchased shall be required to surrender the Note, with an appropriate form duly completed, to the Issuers at the address specified in the notice at least three (3) Business Days prior to the Change of Control Purchase Date. The
Holders shall be entitled to withdraw their election if the Trustee or the Issuers receive not later than one (1) Business Day prior to the Change of Control Purchase Date a facsimile transmission or letter setting forth the name of the Holder,
the principal amount of the Note which was delivered for purchase by the Holder and a statement that such Holder is withdrawing his election to have such 

 

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Note purchased. Holders whose Notes are purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered. 

(d) On the Change of Control Purchase Date, the Issuers 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 Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Issuers. 

(e) On the Change of Control Purchase Date all Notes purchased by the Issuers under this Section shall be delivered to the Trustee for
cancellation, and the Issuers shall pay the Change of Control Payment to the Holders entitled thereto. The paying agent will promptly mail to each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will
promptly authenticate and mail (or cause to be transferred by book-entry) to each holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each new Note will be in a principal
amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 (f) Notwithstanding the foregoing provisions of this
Section, the Issuers shall not be required to make a Change of Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in
Section 4.08(b) applicable to a Change of Control Offer made by the Issuers and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer. 

(g) At the time the Issuers deliver Notes to the Trustee which are to be accepted for purchase, the Issuers shall also deliver an
Officer’s Certificate stating that such Notes are to be accepted by the Issuers pursuant to and in accordance with the terms of this Section 4.08. A Note shall be deemed to have been accepted for purchase at the time the Trustee, directly
or through an agent, mails or delivers payment therefor to the surrendering Holder. 
 (h) Prior to any Change of Control Offer,
the Issuers shall deliver to the Trustee an Officer’s Certificate stating that all conditions precedent contained herein to the right of the Issuers to make such offer have been complied with. 

(i) The Issuers shall comply with the requirements of Section 14e-1 of the Exchange Act and any other securities laws or regulations
in connection with the repurchase of Notes pursuant to this Section 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. To the extent that the provisions of any
securities laws or regulations conflict with provisions of this Section, the Issuers shall 
  

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comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section by virtue thereof. 

Section 4.09. Compliance Certificate. The Company shall deliver to the Trustee within 120 days after the end of each fiscal year
of the Company an Officer’s Certificate stating that in the course of the performance by the signers of their duties as Officers of the Company they would normally have knowledge of any Default and whether or not the signers know of any Default
that occurred during such period. If they do, the certificate shall describe the Default, its status and what action the Company taking or propose to take with respect thereto. The Issuers also shall comply with Section 314(a)(4) of the TIA.

 Section 4.10. Further Instruments and Acts. Upon request of the Trustee, the Issuers shall execute and deliver such
further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

Section 4.11. Liens. (a) The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly, create,
incur, assume or suffer to exist any Lien that secures obligations under any Indebtedness on any asset or property of the Company or any Restricted Subsidiary that is a Guarantor, or any income or profits therefrom, or assign or convey any right to
receive income therefrom, unless: 
 (i) in the case of Liens securing Indebtedness subordinated to the Notes or
any such Guarantee, the Notes and any applicable Guarantees are secured by a Lien on such property, assets or proceeds that is senior in priority to such Liens; or 

(ii) in all other cases, the Notes or the applicable Guarantee or Guarantees are equally and ratably secured. 

(b) Section 4.11(a) shall not apply to: 

(i) Liens securing the Notes and the related Guarantees; and 

(ii) Permitted Liens. 

Section 4.12. Maintenance of Office or Agency. (a) The Issuers shall maintain an office or agency (which may be an office of the
Trustee or an affiliate of the Trustee or Registrar) where Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuers in respect of the Notes and this Indenture may be served. The
Issuers shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuers shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the corporate trust office of the Trustee as set forth in Section 11.02. 

(b) The Issuers may also from time to time designate one or more other offices or agencies where the Notes may be presented or
surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or re-

 

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scission shall in any manner relieve the Issuers of their obligation to maintain an office or agency for such purposes. The Issuers shall give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other office or agency. 
 (c) The Issuers hereby
designate the corporate trust office of the Trustee or its Agent, as such office or agency of the Issuers in accordance with Section 2.04. 

Section 4.13. Suspension of Covenants. (a) If on any date following the Issue Date (i) the Notes have Investment Grade
Ratings from both Rating Agencies, and (ii) no Default has occurred and is continuing under this Indenture (the occurrence of the events described in the foregoing clauses (i) and (ii) being collectively referred to as a
“Covenant Suspension Event”), Section 4.03 hereof, Section 4.04 hereof, Section 4.05 hereof, Section 4.06 hereof, Section 4.07 hereof, and clause (iv) of Section 5.01 hereof (collectively, the
“Suspended Covenants”) shall no longer be applicable to such Notes. 
 (b) In the event that the Company and
its Restricted Subsidiaries are not subject to the Suspended Covenants under this Indenture for any period of time pursuant to Section 4.13(a) (any such period, a “Suspension Period”), and on any subsequent date (the
“Reversion Date”) one or both of the Rating Agencies (1) withdraw their Investment Grade Rating or downgrade the rating assigned to the Notes below an Investment Grade Rating and/or (2) the Company or any of its Affiliates
enters into an agreement to effect a transaction and one or more of the Rating Agencies indicate that if consummated, such transaction (alone or together with any related recapitalization or refinancing transactions) would cause such Rating Agency
to withdraw its Investment Grade Rating or downgrade the ratings assigned to the Notes below an Investment Grade Rating, then the Company and its Restricted Subsidiaries shall thereafter again be subject to the Suspended Covenants under this
Indenture with respect to future events, including, without limitation, a proposed transaction described in clause (2) above. 

(c) Upon the occurrence of a Covenant Suspension Event, the amount of Excess Proceeds from Net Proceeds shall be reset at zero.

 (d) In the event of any reinstatement of the Suspended Covenants pursuant to Section 4.13(b), no action taken or omitted
to be taken by the Company or any of its Restricted Subsidiaries prior to such reinstatement will give rise to a Default or Event of Default under this Indenture with respect to any Notes; provided that (1) with respect to Restricted
Payments made after any such reinstatement, the amount of Restricted Payments made shall be calculated as though Section 4.04 hereof had been in effect prior to, but not during the Suspension Period, and (2) all Indebtedness incurred, or
Disqualified Stock or Preferred Stock issued, during the Suspension Period shall be classified to have been incurred or issued pursuant to clause (iii) of Section 4.03(b) hereof. Notwithstanding the forgoing, no Subsidiaries of the Company
may be designated as Unrestricted Subsidiaries during the Suspension Period. 
 (e) The Company shall deliver promptly to the
Trustee an Officer’s Certificate notifying it of any Covenant Suspension Event or facts or events that would require the reinstatement of Suspended Covenants under this Section 4.13. 

 

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 Section 4.14. Payment for Consent. The Company will not, and will not permit any of
its Subsidiaries to, directly or indirectly, pay or cause to be paid any consideration to or for the benefit of any holder of Notes for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or
the Notes unless such consideration is offered to be paid and is paid to all holders of the Notes that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or agreement.

 ARTICLE 5 

MERGER, CONSOLIDATION OR SALE OF ASSETS

 Section 5.01. Consolidation, Merger or Sale of Assets of the Company. (a) The Company may not, directly or indirectly
(x) consolidate or merge with or into or wind up into another Person (whether or not the Company is the surviving corporation) or (y) sell, assign, transfer, convey or otherwise dispose of all or substantially all of its properties or
assets, in one or more related transactions, to another Person, unless, in each case: 
 (i) either: 

(A) the Company is the surviving corporation; or 

(B) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale,
assignment, transfer, conveyance or other disposition has been made is a partnership, limited liability company or corporation organized or existing under the laws of the jurisdiction of organization of the Company or the United States, any state of
the United States, the District of Columbia or any territory thereof (the Company or such Person, as the case may be, hereinafter referred to as the “Successor Company”); 

(ii) the Successor Company (if other than the Company) expressly assumes all the obligations of the Company under the
Notes and this Indenture pursuant to agreements reasonably satisfactory to the Trustee; 
 (iii) immediately
after such transaction no Default or Event of Default exists; 
 (iv) after giving pro forma effect thereto and
any related financing transactions as if the same had occurred at the beginning of the applicable four-quarter period, either 

(A) the Successor Company (if other than the Company), would have been permitted to incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.03(a) determined on a pro forma basis (including pro forma application of the net proceeds therefrom), as if such transaction had occurred at the beginning of
such four-quarter period; or 
 (B) the Fixed Charge Coverage Ratio for the Successor Company and its Restricted
Subsidiaries would be equal to or greater than such ratio for the Company and its Restricted Subsidiaries immediately prior to such transaction; 
  

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 (v) each Guarantor, unless it is the other party to the transactions
described above, in which case clause (ii) shall apply, shall have confirmed in writing that its Guarantee shall apply to such Person’s obligations under the Notes and this Indenture; and 

(vi) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating
that such consolidation, merger or transfer and such amendment or supplement (if any) comply with this Indenture. 
 The
Successor Company shall succeed to, and be substituted for, the Company under this Indenture and the Notes. Notwithstanding the foregoing clauses (iii) and (iv) of this Section 5.01, (a) any Restricted Subsidiary may consolidate
with, merge into or transfer all or part of its properties and assets to the Company or to another Restricted Subsidiary and (b) the Company may merge with an Affiliate incorporated solely for the purpose of incorporating or reincorporating the
Company in a (or another) state of the United States, so long as the amount of Indebtedness of the Company and its Restricted Subsidiaries is not increased thereby. 

Section 5.02. Consolidation, Merger or Sale of Assets by a Subsidiary Guarantor. Subject to the provisions of
Section 10.02(b) (which govern the release of a Guarantee upon the sale, transfer or disposition of a Restricted Subsidiary of the Company that is a Guarantor), no Subsidiary Guarantor shall, and the Company shall not permit any Subsidiary
Guarantor to, consolidate or merge with or into or wind up into (whether or not such Guarantor is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in
one or more related transactions to, any Person, unless: 
 (i) such Guarantor is the surviving Person or the
Person formed by or surviving any such consolidation or merger (if other than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a partnership, limited liability company or
corporation organized or existing under the laws of the United States, any state thereof, the District of Columbia or any territory thereof (such Guarantor or such Person, as the case may be, being herein called the “Successor
Guarantor”); 
 (ii) the Successor Guarantor (if other than such Guarantor) expressly assumes all the
obligations of such Guarantor under this Indenture pursuant to supplemental indentures or other documents or instruments in form reasonably satisfactory to the Trustee; 

(iii) immediately after such transaction no Default or Event of Default shall exist; and 

(iv) the Company shall have delivered to the Trustee an Officer’s Certificate stating that such consolidation, merger
or transfer and such amendment or supplement (if any) comply with this Indenture. 
 The Successor Guarantor will succeed to,
and be substituted for, such Guarantor under this Indenture and the Registration Rights Agreement. Notwithstanding the foregoing, (a) a Guarantor may merge with an Affiliate incorporated solely for the purpose of reincorporating such

  

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Guarantor in another state of the United States, the District of Columbia or any territory thereof, so long as the amount of Indebtedness of the Guarantor is not increased thereby, (b) any
Guarantor may merge into or transfer all or part of its properties and assets to the Company or another Guarantor and (c) a Guarantor may convert into a corporation, partnership, limited partnership, limited liability company or trust organized
or existing under the laws of the jurisdiction of organization of such Guarantor. Notwithstanding anything to the contrary herein, except as expressly permitted under this Indenture, no Guarantor shall be permitted to consolidate with, merge into or
transfer all or part of its properties and assets to the Parent Guarantor. 
 Nothing contained in this covenant shall limit the
Parent Guarantor’s ability to consolidate with, merge with, or sell any of its assets to, any Person, except the Company or Subsidiary Guarantors, to the extent provided in this covenant. 

ARTICLE 6 

DEFAULTS AND REMEDIES 

Section 6.01. Events of Default. An “Event of Default” occurs if: 

(a) the Issuers default in payment when due and payable, upon redemption, acceleration or otherwise, of principal of, or
premium, if any, on the Notes; 
 (b) the Issuers default in the payment when due of interest, if any, on or with
respect to the Notes and such default continues for a period of 30 days; 
 (c) an Issuer or a Guarantor defaults
in the performance of, or breaches, any covenant, warranty or other agreement contained in this Indenture (other than a default in the performance or breach of a covenant, warranty or agreement which is specifically dealt with in clauses (a) or
(b) above) and such default or breach continues for a period of 60 days after the notice specified below; 

(d) the Company or a Restricted Subsidiary defaults under any mortgage, indenture or instrument under which there is
issued or by which there is secured or evidenced any Indebtedness for money borrowed by the Company or any Restricted Subsidiary or the payment of which is guaranteed by the Company or any Restricted Subsidiary (other than Indebtedness owed to the
Company or a Restricted Subsidiary), whether such Indebtedness or guarantee now exists or is created after the date of this Indenture, if (A) such default either (1) results from the failure to pay any such Indebtedness at its stated final
maturity (after giving effect to any applicable grace periods) or (2) relates to an obligation other than the obligation to pay principal of any such Indebtedness at its stated final maturity and results in the holder or holders of such
Indebtedness causing such Indebtedness to become due prior to its stated maturity and (B) the principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default for failure to pay principal at
stated final maturity (after giving effect to any applicable grace periods), or the maturity of which has been so accelerated, aggregate $35.0 million or more at any one time outstanding; 

 

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 (e) the Company or any Significant Subsidiary fails to pay final judgments
(other than any judgments covered by insurance policies issued by reputable and creditworthy insurance companies) aggregating in excess of $35.0 million, which final judgments remain unpaid, undischarged and unstayed for a period of more than 60
days after such judgment becomes final, and an enforcement proceeding has been commenced by any creditor upon such judgment or decree which is not promptly stayed; 

(f) the Company or any Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law; 

(i) commences a voluntary case; 

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

(iii) consents to the appointment of a Custodian of it or for any substantial part of its property; or 

(iv) makes a general assignment for the benefit of its creditors or takes any comparable action under any foreign laws
relating to insolvency; 
 (g) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that: 
 (i) is for relief against the Company or any Significant Subsidiary in an involuntary case;

 (ii) appoints a Custodian of the Company or any Significant Subsidiary or for any substantial part of its
property; 
 (iii) orders the winding up or liquidation of the Company or any Significant Subsidiary; or

 (iv) or any similar relief is granted under any foreign laws and the order or decree remains unstayed and in
effect for 60 days; or 
 (h) any Guarantee of a Significant Subsidiary fails to be in full force and effect
(except as contemplated by the terms thereof) or any Guarantor denies or disaffirms its obligations under its Guarantee and such Default continues for 10 days. 

The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or
involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. 

The term “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state law for the relief of
debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 
  

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 Section 6.02. Acceleration. If an Event of Default (other than an Event of Default
specified in clauses (f) and (g) of Section 6.01 with respect to the Company) shall occur and be continuing, the Trustee or the holders of at least 25% in principal amount of outstanding Notes may declare the principal of and accrued
interest on such Notes to be due and payable by notice in writing to the Company and the Trustee specifying the respective Event of Default and that it is a “notice of acceleration” (the “Acceleration Notice”), and the
same shall become immediately due and payable. Notwithstanding the foregoing, if an Event of Default specified in clauses (f) and (g) above with respect to the Company occurs and is continuing, then all unpaid principal of, and premium, if
any, and accrued and unpaid interest on all of the outstanding Notes shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any holder of the Notes. The Holders of a
majority in principal amount of the Notes outstanding may rescind an acceleration and its consequences by notice to the Trustee if: 

(i) the rescission would not conflict with any judgment or decree; 

(ii) all existing Events of Default have been cured or waived except nonpayment of principal or interest that has become
due solely because of acceleration; 
 (iii) to the extent the payment of such interest is lawful, interest on
overdue installments of interest and overdue principal, which has become due otherwise than by such declaration of acceleration, has been paid; 

(iv) if the Company has paid the Trustee its reasonable compensation and reimbursed the Trustee for its expenses,
disbursements and advances; and 
 (v) in the event of the cure or waiver of an Event of Default of the type
described in clauses (f) and (g) of Section 6.01, the Trustee shall have received an Officer’s Certificate and an Opinion of Counsel that such Event of Default has been cured or waived. 

No such rescission shall affect any subsequent Default or impair any right consequent thereto. 

The Holders of a majority in principal amount of the Notes may waive any existing Default or Event of Default under this Indenture, and
its consequences, except a default in the payment of the principal of or interest on the Notes. 
 In the event of any Event of
Default specified in Section 6.01(d), such Event of Default and all consequences thereof (excluding, however, any resulting payment default) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the
Holders of the Notes, if within 20 days after such Event of Default arose the Company delivers an Officer’s Certificate to the Trustee stating that (x) the Indebtedness or guarantee that is the basis for such Event of Default has been
discharged or (y) the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default or (z) the default that is the basis for such Event of Default has been cured, it
being understood that in no event shall an acceleration of the principal amount of the Notes as described above be annulled, waived or rescinded upon the happening of any such events. 

 

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 Section 6.03. Other Remedies. If an Event of Default occurs and is continuing, the
Trustee may pursue any available remedy at law or in equity to collect the payment of principal of or interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A
delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any
other remedy. All available remedies are cumulative. 
 Section 6.04. Waiver of Past Defaults. Provided the Notes are not
then due and payable by reason of a declaration of acceleration, the Holders of a majority in principal amount of the Notes outstanding by notice to the Trustee may waive an existing Default and its consequences except (a) a Default in the
payment of the principal of or interest on a Note, (b) a Default arising from the failure to redeem or purchase any Note when required pursuant to the terms of this Indenture or (c) a Default in respect of a provision that under
Section 9.02 cannot be amended without the consent of each Holder affected. When a Default is waived, it is deemed cured and the Issuer, the Trustee and the Holders will be restored to their former positions and rights under this Indenture, but
no such waiver shall extend to any subsequent or other Default or impair any consequent right. 
 Section 6.05. Control by
Majority. The Holders of a majority in principal amount of the Notes outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the
Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or, subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve
the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action under this Indenture, the Trustee
shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 

Section 6.06. Limitation on Suits. (a) Except to enforce the right to receive payment of principal, premium (if any) or interest
when due, no Holder may pursue any remedy with respect to this Indenture or the Notes unless: 
 (i) the Holder
gives to the Trustee written notice stating that an Event of Default is continuing; 
 (ii) the Holders of at
least 25% in principal amount of the Notes make a written request to the Trustee to pursue the remedy; 
 (iii)
such Holder or Holders offer to the Trustee reasonable security or indemnity satisfactory to it against any loss, liability or expense; 
  

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 (iv) the Trustee does not comply with the request within 60 days after
receipt of the request and the offer of security or indemnity; and 
 (v) the Holders of a majority in principal
amount of the Notes outstanding do not give the Trustee a direction inconsistent with the request during such 60-day period. 

(b) A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority
over another Holder. 
 Section 6.07. Rights of the Holders to Receive Payment. Notwithstanding any other provision of
this Indenture, the right of any Holder to receive payment of principal of and interest on the Notes held by such Holder, on or after the respective due dates expressed or provided for in the Notes, or to bring suit for the enforcement of any such
payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 
 Section
6.08. Collection Suit by Trustee. If an Event of Default specified in Section 6.01(a) or (b) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuers or any
other obligor on the Notes for the whole amount then due and owing (together with interest on overdue principal and (to the extent lawful) on any unpaid interest at the rate provided for in the Notes) and the amounts provided for in
Section 7.07. 
 Section 6.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other
papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation, expenses disbursements and advances of the Trustee (including counsel, accountants, experts or such
other professionals as the Trustee deems necessary, advisable or appropriate)) and the Holders allowed in any judicial proceedings relative to the Company or any Guarantor, their creditors or their property, shall be entitled to participate as a
member, voting or otherwise, of any official committee of creditors appointed in such matters and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person
performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the
Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.07. 

Section 6.10. Priorities. If the Trustee collects any money or property pursuant to this Article 6, it shall pay out the money or
property in the following order: 
 FIRST: to the Trustee for amounts due under Section 7.07; 

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

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 THIRD: to the Issuers. 

The Trustee may fix a record date and payment date for any payment to the Holders pursuant to this Section. At least 15 days before such
record date, the Trustee shall mail to each Holder and the Issuers a notice that states the record date, the payment date and amount to be paid. 

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

Section 6.12. Waiver of Stay or Extension Laws. Neither the Issuers nor any Guarantor (to the extent it may lawfully do so) shall
at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and the Issuers and each Guarantor (to the extent that it may lawfully do so) hereby expressly waive all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee,
but shall suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE 7 

TRUSTEE 

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

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

(i) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and
no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (ii) in the
absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements
of this Indenture. However, in the case of certificates or opinions required by any provision hereof to be provided to it, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this
Indenture. 
  

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

(iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance
with a direction received by it pursuant to Section 6.05; and 
 (iv) no provision of this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. 

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this
Section. 
 (e) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in
writing with the Issuer. 
 (f) Money held in trust by the Trustee need not be segregated from other funds except to the extent
required by law. 
 (g) Every provision of this Indenture relating to the conduct or affecting the liability of or affording
protection to the Trustee shall be subject to the provisions of this Section and to the provisions of the TIA. 
 Section 7.02.
Rights of Trustee. (a) The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document.

 (b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel.
The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officer’s Certificate or Opinion of Counsel. 

(c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due
care. 
 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be
authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute willful misconduct or negligence. 

(e) The Trustee may consult with counsel of its own selection and the advice or opinion of counsel with respect to legal matters relating
to this Indenture and the Notes shall be full and complete authorization and protection from liability in respect of any action taken, omitted 

 

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or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 

(f) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other paper or document unless requested in writing to do so by the Holders of not less than a majority in principal amount of the Notes at the time
outstanding, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to
examine the books, records and premises of the Issuer, personally or by agent or attorney, at the expense of the Issuers and shall incur no liability of any kind by reason of such inquiry or investigation. 

(g) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or
direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction. 
 (h) The rights, privileges, protections, immunities and benefits given to the
Trustee, including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

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

(j) The Trustee may request that the Issuers and any Guarantor deliver an Officer’s Certificate setting forth the names of the
individuals and/or titles of officers (with specimen signatures) authorized at such times to take specific actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person specified as so authorized in any such
certificate previously delivered and not superceded. 
 (k) Delivery of reports to the Trustee pursuant to Section 4.02
hereof shall not constitute actual or constructive knowledge or, or notice to, the Trustee of the information contained therein. 

(l) In the event the Issuers are required to pay Additional Interest, the Company will provide within one business day after each and
every date on which an event occurs in respect of which Additional Interest is required to be paid written notice to the Trustee of the Issuers’ obligations to pay Additional Interest, which notice shall set forth the amount of the Additional
Interest to be paid by the Issuers, to the extent calculable. The Trustee shall not at any time be under any duty or responsibility to any Holders to determine whether any Additional Interest is payable and any amount thereof. 

 

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 Section 7.03. Individual Rights of Trustee. The Trustee in its individual or any
other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuers or their Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent or Registrar may do the same with like rights. However,
the Trustee must comply with Sections 7.10 and 7.11. 
 Section 7.04. Trustee’s Disclaimer. The Trustee shall not be
responsible for and makes no representation as to the validity or adequacy of this Indenture, any Guarantee or the Notes, it shall not be accountable for the Issuers’ use of the proceeds from the Notes, and it shall not be responsible for any
statement of the Issuers or any Guarantor in this Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of authentication. The Trustee shall not be charged with
knowledge of any Default or Event of Default under Section 6.01(c), (d), (e) or (h) or of the identity of any Significant Subsidiary unless either (a) a Trust Officer shall have actual knowledge thereof or (b) the Trustee
shall have received notice thereof in accordance with Section 11.02 hereof from the Issuer, any Guarantor or any Holder. 

Section 7.05. Notice of Defaults. If a Default occurs and is continuing and if it is actually known to the Trustee, the Trustee
shall mail to each Holder notice of the Default within the earlier of 90 days after it occurs or 30 days after it is actually known to a Trust Officer or written notice of it is received by the Trustee. Except in the case of a Default in the payment
of principal of, premium (if any) or interest on any Note, the Trustee may withhold the notice if and so long as a committee of its Trust Officers in good faith determines that withholding the notice is in the interests of the Holders. 

Section 7.06. Reports by Trustee to the Holders. As promptly as practicable after each May 15, beginning with the May 15
following the date of this Indenture, and in any event prior to September 30 in each year, the Trustee shall mail to each Holder a brief report dated as of such September 30 that complies with Section 313(a) of the TIA if and to the
extent required thereby. The Trustee shall also comply with Section 313(b) of the TIA. 
 A copy of each report at the time
of its mailing to the Holders shall be filed with the Commission and each stock exchange (if any) on which the Notes are listed. The Issuers agree to notify promptly the Trustee whenever the Notes become listed on any stock exchange and of any
delisting thereof. 
 Section 7.07. Compensation and Indemnity. The Issuers shall pay to the Trustee from time to time
reasonable compensation for its services as agreed upon from time to time in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuers shall reimburse the Trustee upon
request for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and
advances of the Trustee’s agents, counsel, accountants and experts. The Issuers and each Guarantor, jointly and severally shall indemnify the Trustee against any and all loss, liability, claim, damage or expense (including reasonable
attorneys’ fees and expenses) incurred by or in connection with the acceptance or administration of this trust and the performance of its duties hereunder, including the costs and expenses of enforcing this Indenture or Guarantee 

 

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against the Issuers or a Guarantor (including this Section 7.07) and defending itself against or investigating any claim (whether asserted by the Issuer, any Guarantor, any Holder or any
other Person). The Trustee shall notify the Issuers of any claim for which it may seek indemnity promptly upon obtaining actual knowledge thereof; provided, however, that any failure so to notify the Issuers shall not relieve the
Issuers or any Guarantor of its indemnity obligations hereunder. The Issuers shall defend the claim and the indemnified party shall provide reasonable cooperation at the Issuers’ expense in the defense. Such indemnified parties may have
separate counsel and the Issuers and the Guarantors, as applicable shall pay the fees and expenses of such counsel; provided, however, that the Issuers shall not be required to pay such fees and expenses if it assumes such indemnified
parties’ defense and, in such indemnified parties’ reasonable judgment, there is no conflict of interest between the Issuers and the Guarantors, as applicable, and such parties in connection with such defense. The Issuers need not
reimburse any expense or indemnify against any loss, liability or expense incurred by an indemnified party through such party’s own willful misconduct, negligence or bad faith. 

Notwithstanding Section 4.11 hereof, to secure the Issuers’ and the Guarantors’ payment obligations in this Section, the
Trustee shall have a Lien prior to the Notes on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Notes. 

The Issuers’ and the Guarantors’ payment obligations pursuant to this Section shall survive the satisfaction or discharge of
this Indenture, any rejection or termination of this Indenture under any bankruptcy law or the resignation or removal of the Trustee. Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee incurs
expenses after the occurrence of a Default specified in Section 6.01(f) or (g) with respect to the Issuer, the expenses are intended to constitute expenses of administration under the Bankruptcy Law. 

Section 7.08. Replacement of Trustee. (a) The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority
in principal amount of the Notes outstanding may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuers shall remove the Trustee if: 

(i) the Trustee fails to comply with Section 7.10; 

(ii) the Trustee is adjudged bankrupt or insolvent; 

(iii) a receiver or other public officer takes charge of the Trustee or its property; or 

(iv) the Trustee otherwise becomes incapable of acting. 

(b) If the Trustee resigns, is removed by the Issuers or by the Holders of a majority in principal amount of the Notes outstanding and
such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuers shall promptly appoint a
successor Trustee. 
  

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 (c) A successor Trustee shall deliver a written acceptance of its appointment to the
retiring Trustee and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor
Trustee shall mail a notice of its succession to the Holders. The retiring Trustee shall upon payment of its charges hereunder promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in
Section 7.07. 
 (d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is
removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may petition at the expense of the Issuers any court of competent jurisdiction for the appointment of a successor Trustee. 

(e) If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in
Section 310(b) of the TIA, any Holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuers’ obligations under Section 7.07 shall
continue for the benefit of the retiring Trustee. 
 Section 7.09. Successor Trustee by Merger. If the Trustee
consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall
be the successor Trustee. 
 In case at the time such successor or successors by merger, conversion or consolidation to the
Trustee shall succeed to the trusts created by this Indenture any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver
such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the
Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall have. 

Section 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of Section 310(a) of the
TIA. The Trustee shall have a combined capital and surplus of at least $100,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with Section 310(b) of the TIA, subject to its right to apply for
a stay of its duty to resign under the penultimate paragraph of Section 310(b) of the TIA; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the TIA any series of securities issued
under this Indenture and any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Issuers are outstanding if the requirements for such exclusion set forth in
Section 310(b)(1) of the TIA are met. 
  

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 Section 7.11. Preferential Collection of Claims Against Issuer. The Trustee shall
comply with Section 311(a) of the TIA, excluding any creditor relationship listed in Section 311(b) of the TIA. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the TIA to the extent indicated.

 ARTICLE 8 

DISCHARGE OF INDENTURE; DEFEASANCE 

Section 8.01. Discharge of Liability on Notes. This Indenture shall be discharged and shall cease to be of further effect (except
as to surviving rights of registration of transfer or exchange of Notes, as expressly provided for in this Indenture) as to all outstanding Notes: 

(a) when either: 

(i) all the Notes theretofore authenticated and delivered (other than Notes pursuant to Section 2.08 which have been
replaced or paid and Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuers and thereafter repaid to the Issuers or discharged from such trust) have been delivered to the Trustee for
cancellation; or 
 (ii) all of the Notes (a) have become due and payable, (b) will become due and
payable at their Stated Maturity within one year or (c) if redeemable at the option of the Issuer, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense of, the Issuer, and the Issuers have irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the holders cash in U.S. dollars, non-callable Government
Securities, or a combination of cash in U.S. dollars and non-callable Government Securities in amounts as will be sufficient without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not
delivered to the Trustee for cancellation for principal, premium and Additional Interest, if any, and accrued interest to the date of maturity or redemption; 

(b) the Issuers and/or the Guarantors have paid or caused to be paid all sums payable by them under this Indenture;

 (c) the Issuers have delivered irrevocable instructions to the Trustee to apply the deposited money toward the
payment of the Notes at maturity or the redemption date, as the case may be; and 
 (d) the Company has delivered
to the Trustee an Officer’s Certificate and an Opinion of Counsel stating that all conditions precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with. 

 

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 Section 8.02. Defeasance. (a) The Issuers may, at their option and at any time, elect
to have all of their obligations discharged with respect to the outstanding Notes issued under this Indenture (“Legal Defeasance”) except for: 

(i) the rights of Holders of outstanding Notes issued thereunder to receive payments in respect of the principal of, or
interest or premium on such Notes when such payments are due from the trust referred to below; 
 (ii) the
Issuers’ obligations with respect to the Notes issued thereunder concerning issuing temporary Notes, registration of Notes, mutilated, destroyed, lost or stolen Notes and the maintenance of an office or agency for payment and money for security
payments held in trust; 
 (iii) the rights, powers, trusts, duties and immunities of the Trustee, and the
Issuers’ obligations in connection therewith; and 
 (iv) this Section 8.02(a). 

(b) The Issuers may, at their option and at any time, elect to have their obligations released with respect to Sections 4.02, 4.03, 4.04,
4.05, 4.06, 4.07, 4.08, 4.09, 4.11, 4.12 and the operation of Article 5 and Sections 6.01(c), 6.01(d), 6.01(e), 6.01(f) (with respect to Significant Subsidiaries of the Company only), 6.01(g) (with respect to Significant Subsidiaries of the Company
only) and 6.01(h) of this Indenture (“Covenant Defeasance”) and thereafter any omission to comply with those covenants will not constitute a Default or Event of Default with respect to the Notes. The Issuers may exercise their Legal
Defeasance option notwithstanding their prior exercise of their Covenant Defeasance option. In the event the Issuers terminate all of their obligations under the Notes and this Indenture (with respect to the Notes) by exercising their Legal
Defeasance option or their Covenant Defeasance option, the obligations of each Guarantor under its Guarantee of the Notes shall be terminated simultaneously with the termination of such obligations. 

If the Issuers exercise their Legal Defeasance option, payment of the Notes so defeased may not be accelerated because of an Event of
Default. If the Issuers exercise their Covenant Defeasance option, payment of the Notes so defeased may not be accelerated because of an Event of Default specified in Sections 6.01(c), 6.01(d), 6.01(e), 6.01(f) (with respect to Significant
Subsidiaries of the Company only) and 6.01(g) (with respect to Significant Subsidiaries of the Company only) or because of the failure of the Issuers to comply with Section 5.01. 

Upon satisfaction of the conditions set forth herein and upon request of the Issuers, the Trustee shall acknowledge in writing the
discharge of those obligations that the Issuers terminate. 
 (c) Notwithstanding clauses (a) and (b) above, the
Issuers’ obligations in Sections 2.04, 2.05, 2.06, 2.07, 2.08, 2.09, 7.07, 7.08 and in this Article 8 shall survive until the Notes have been paid in full. Thereafter, the Issuers’ obligations in Sections 7.07, 8.06 and 8.07 shall survive
such satisfaction and discharge. 
  

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 Section 8.03. Conditions to Defeasance. (a) The Issuers may exercise their Legal
Defeasance option or their Covenant Defeasance option only if: 
 (i) the Issuers have irrevocably deposited with
the Trustee, in trust, for the benefit of the holders of the Notes issued thereunder, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in amounts as will be
sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, or interest and premium and Additional Interest, if any, on the outstanding Notes issued thereunder on the Stated Maturity or on
the redemption date, as the case may be, and the Issuers must specify whether the Notes are being defeased to maturity or to a particular redemption date; 

(ii) in the case of Legal Defeasance, the Issuers have delivered to the Trustee an opinion of counsel reasonably
acceptable to the Trustee confirming that (a) the Issuers have received from, or there has been published by, the Internal Revenue Service a ruling or (b) since the date of this Indenture, there has been a change in the applicable federal
income tax law, in either case to the effect that, and based thereon such opinion of counsel will confirm that, the Holders of the respective outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of
such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

(iii) in the case of Covenant Defeasance, the Issuers have delivered to the Trustee an Opinion of Counsel reasonably
acceptable to the Trustee confirming that the Holders of the respective outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on
the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(iv) no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or
Event of Default resulting from the borrowing of funds to be applied to such deposit and the granting of Liens in connection therewith) or insofar as Events of Default (other than Events of Default resulting from the borrowing of funds to be applied
to such deposit and the granting of Liens in connection therewith) resulting from the borrowing of funds or insolvency events are concerned, at any time in the period ending on the 91st day after the date of deposit; 

(v) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default
under any material agreement or instrument including, without limitation, the Senior Secured Credit Agreement (other than this Indenture) to which the Company or any of its Restricted Subsidiaries is a party or by which the Company or any of its
Restricted Subsidiaries is bound; 
 (vi) the Issuers must deliver to the Trustee an Officer’s Certificate
stating that the deposit was not made by the Issuers with the intent of preferring the holders of Notes over the other creditors of the Issuers with the intent of defeating, hindering, delaying or defrauding creditors of the Issuers or others; and

  

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 (vii) the Issuers must deliver to the Trustee an Officer’s Certificate
and an Opinion of Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance as contemplated by this Article 8 have been complied with. 

(b) Before or after a deposit, the Issuers may make arrangements satisfactory to the Trustee for the redemption of such Notes at a future
date in accordance with Article 3. 
 Section 8.04. Application of Trust Money. The Trustee shall hold in trust money or
Government Obligations (including proceeds thereof) deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from Government Obligations through each Paying Agent and in accordance with this Indenture to the
payment of principal of and interest on the Notes so discharged or defeased. 
 Section 8.05. Repayment to Issuers. Each
of the Trustee and each Paying Agent shall promptly turn over to the Issuers upon request any money or Government Obligations held by it as provided in this Article which, in the written opinion of nationally recognized firm of independent public
accountants delivered to the Trustee (which delivery shall only be required if Government Obligations have been so deposited), are in excess of the amount thereof which would then be required to be deposited to effect an equivalent discharge or
defeasance in accordance with this Article. 
 Subject to any applicable abandoned property law, the Trustee and each Paying
Agent shall pay to the Issuers upon written request any money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to the Issuers for payment as general
creditors, and the Trustee and each Paying Agent shall have no further liability with respect to such monies. 
 Section 8.06.
Indemnity for Government Obligations. The Issuers shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited Government Obligations or the principal and interest received on such
Government Obligations. 
 Section 8.07. Reinstatement. If the Trustee or any Paying Agent is unable to apply any money
or Government Obligations in accordance with this Article 8 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the
Issuers’ obligations under this Indenture and the Notes so discharged or defeased shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or any Paying Agent is permitted to
apply all such money or Government Obligations in accordance with this Article 8; provided, however, that, if the Issuers have made any payment of principal of or interest on, any such Notes because of the reinstatement of their
obligations, the Issuers shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Obligations held by the Trustee or any Paying Agent. 

 

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 ARTICLE 9 

AMENDMENTS AND WAIVERS 

Section 9.01. Without Consent of the Holders. The Issuers and the Trustee may amend or supplement this Indenture or the Notes
without notice to or consent of any Holder: 
 (i) to cure any ambiguity, defect or inconsistency; 

(ii) to provide for uncertificated Notes in addition to or in place of certificated Notes; provided, however, that
the uncertificated Notes are issued in registered form for purposes of Section 163(f) of the code or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B); 

(iii) to provide for the assumption of the Company’s obligations to holders of Notes in the case of a merger or
consolidation or sale of all or substantially all of the Company’s assets pursuant to Article 5 hereof; 

(iv) to add any Guarantee of the Notes or to release the Parent Guarantee or any other Guarantee; 

(v) to add to the covenants of the Issuers for the benefit of the Holders or to surrender any right or power herein
conferred upon the Issuers; 
 (vi) to comply with any requirement of the Commission in order to effect or
maintain the qualification of this Indenture under the TIA; 
 (vii) to make any change that would provide
additional rights or benefits to the Holders of Notes or that does not adversely affect the legal rights under this Indenture of any Holder; or 

(viii) to provide for the issuance of the Exchange Notes or the Additional Notes, which shall have terms substantially
identical in all material respects to the Initial Notes, and which shall be treated, together with any outstanding Initial Notes, as a single issue of securities. 

After an amendment under this Section 9.01 becomes effective, the Issuers shall mail to the Holders a notice briefly describing such
amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.01. 

Section 9.02. With Consent of the Holders. This Indenture or the Notes issued hereunder may be amended or supplemented with the
consent of the holders of at least a majority in principal amount of the Notes then outstanding issued under this Indenture (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for,
Notes), and any existing default or compliance with any provision of this Indenture or the Notes issued hereunder may be waived with the consent of the holders of a majority in principal amount of the then outstanding Notes issued under this
Indenture (including, without limitation, 
  

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consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes). However, without the consent of each Holder of an outstanding Note affected, an amendment or
waiver may not (with respect to any Notes held by a non-consenting Holder): 
 (i) reduce the principal amount of
Notes whose holders must consent to an amendment, supplement or waiver; 
 (ii) reduce the principal of or change
the fixed maturity of any Note or alter the provisions with respect to the redemption of the Notes (other than pursuant to Sections 4.06 or 4.08 hereof); 

(iii) reduce the rate of or change the time for payment of interest on any Note; 

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

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

(vi) make any change to Section 6.04 or 6.07; 

(vii) waive a redemption payment with respect to any Note issued hereunder (other than payment required by Sections 4.06
or 4.08 hereof); 
 (viii) modify the subsidiary Guarantees in any manner adverse to the holders of such Notes;

 (ix) modify or change any provision of this Indenture or the related definitions affecting ranking of the
Notes in a manner that materially adversely affects the Holders; or 
 (x) make any change to this
Section 9.02. 
 It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the
particular form of any proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 
 After
an amendment under this Section 9.02 becomes effective, the Issuers shall mail to the Holders a notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the
validity of an amendment under this Section 9.02. 
 Section 9.03. Compliance with Trust Indenture Act. From the
date on which this Indenture is qualified under the TIA, every amendment, waiver or supplement to this Indenture or the Notes shall comply with the TIA as then in effect. 
  

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 Section 9.04. Revocation and Effect of Consents and Waivers. (a) A consent to an
amendment or a waiver by a Holder of a Note shall bind the Holder and every subsequent Holder of that Note or portion of the Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent or waiver is not
made on the Note. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s Note or portion of the Note if the Trustee receives the notice of revocation before the date on which the Trustee receives an
Officer’s Certificate from the Issuers certifying that the requisite principal amount of Notes have consented. After an amendment or waiver becomes effective, it shall bind every Holder. An amendment or waiver becomes effective upon the
(i) receipt by the Issuers or the Trustee of consents by the Holders of the requisite principal amount of securities, (ii) satisfaction of conditions to effectiveness as set forth in this Indenture and any indenture supplemental hereto
containing such amendment or waiver and (iii) execution of such amendment or waiver (or supplemental indenture) by the Issuers and the Trustee. 

(b) The Issuers may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their
consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders at such record date
(or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record date. No
such consent shall be valid or effective for more than 120 days after such record date. 
 Section 9.05. Notation on or
Exchange of Notes. If an amendment, supplement or waiver changes the terms of a Note, the Issuers may require the Holder of the Note to deliver it to the Trustee. The Trustee may place an appropriate notation on the Note regarding the changed
terms and return it to the Holder. Alternatively, if the Issuers or the Trustee so determines, the Issuers in exchange for the Note shall issue and the Trustee shall authenticate a new Note that reflects the changed terms. Failure to make the
appropriate notation or to issue a new Note shall not affect the validity of such amendment, supplement or waiver. 
 Section
9.06. Trustee to Sign Amendments. The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article 9 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it
does, the Trustee may but is not required to sign it. In signing such amendment, the Trustee shall be entitled to receive indemnity reasonably satisfactory to it and shall be provided with, and (subject to Section 7.01) shall be fully protected
in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that such amendment, supplement or waiver is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding
obligation of the Issuers and the Guarantors, enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof (including Section 9.03). 

Section 9.07. Additional Voting Terms; Calculation of Principal Amount. Except as provided in the proviso to the first sentence of
Section 9.02, all Notes issued under this Indenture shall vote and consent together on all matters (as to which any of such Notes may vote) as one class. Determinations as to whether Holders of the requisite aggregate principal amount of Notes

  

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have concurred in any direction, waiver or consent shall be made in accordance with this Article 9. 

ARTICLE 10 

GUARANTEES 

Section 10.01. Guarantees of the Notes. (a) The obligations of the Issuers pursuant to the Notes, including any repurchase
obligation resulting from a Change of Control, are hereby unconditionally guaranteed, jointly and severally, on an unsecured basis, by the Parent Guarantor and each Wholly Owned Restricted Subsidiary (other than a Foreign Subsidiary) of the Company
that guarantees the Company’s obligations under the Senior Secured Credit Agreement (a “Senior Obligation Guarantor”). Notwithstanding the foregoing, if at any time any non-Wholly Owned Restricted Subsidiary (other than a
Foreign Subsidiary) that is a Senior Obligation Guarantor, but is not, pursuant to the immediately preceding sentence, required to be a Guarantor (a “Non-Wholly Owned Senior Obligation Guarantor”) constitutes, either alone or
together with all other Non-Wholly Owned Senior Obligation Guarantors at such time (considered for this purpose as a single Subsidiary and determined on a combined or consolidated basis, as applicable), a Significant Subsidiary of the Company, then
the Company shall within 20 days cause one or more Non-Wholly Owned Senior Obligation Guarantors to become Guarantors in accordance with the provisions of this section such that, after giving effect to all such additional Guarantors, no Non-Wholly
Owned Senior Obligation Guarantor that is not a Guarantor, either alone or together with all other Non-Wholly Owned Senior Obligation Guarantors that are not Guarantors at such time (considered for this purpose as a single Subsidiary and determined
as provided above), shall constitute a Significant Subsidiary of the Company. 
 (b) Upon the occurrence of the Guarantee by any
Restricted Subsidiary of the obligations of the Company under the Senior Secured Credit Agreement that is, pursuant to the first paragraph of this section, required thereby to provide a Guarantee, the Company will cause each such Restricted
Subsidiary (other than a Securitization Subsidiary) to execute a Supplemental Indenture, satisfactory in form and substance to the Trustee, pursuant to which such Restricted Subsidiary will become a Guarantor. 

(c) Each Guarantor hereby jointly and severally, irrevocably and unconditionally guarantees, as a primary obligor and not merely as a
surety, to each Holder and to the Trustee and its successors and assigns (i) the full and punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or otherwise, of all obligations of the Issuers under this Indenture
(including obligations to the Trustee) and the Notes, whether for payment of principal of, premium, if any, or interest on in respect of the Notes and all other monetary obligations of the Issuers under this Indenture and the Notes and (ii) the
full and punctual performance within applicable grace periods of all other obligations of the Issuers whether for fees, expenses, indemnification or otherwise under this Indenture and the Notes (all the foregoing being hereinafter collectively
called the “Guaranteed Obligations”). Each Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from each such Guarantor, and that each such
Guarantor shall remain bound under this Article 10 notwithstanding any extension or renewal of any Guaranteed Obligation. 
  

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 (d) Each Guarantor waives presentation to, demand of payment from and protest to the Issuers
of any of the Guaranteed Obligations and also waives notice of protest for nonpayment. Each Guarantor waives notice of any default under the Notes or the Guaranteed Obligations. The obligations of each Guarantor hereunder shall not be affected by
(i) the failure of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Issuers or any other Person under this Indenture, the Notes or any other agreement or otherwise; (ii) any extension or
renewal of this Indenture, the Notes or any other agreement; (iii) any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Notes or any other agreement; (iv) the release of any security
held by any Holder or the Trustee for the Guaranteed Obligations or any Guarantor; (v) the failure of any Holder or Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or (vi) any change in
the ownership of such Guarantor, except as provided in Section 10.02(b). 
 (e) Each Guarantor hereby waives any right to
which it may be entitled to have its obligations hereunder divided among the Guarantors, if applicable, such that such Guarantor’s obligations would be less than the full amount claimed. Each Guarantor hereby waives any right to which it may be
entitled to have the assets of the Issuers first be used and depleted as payment of the Issuers’ or such Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such Guarantor hereunder. Each Guarantor hereby
waives any right to which it may be entitled to require that the Issuers be sued prior to an action being initiated against such Guarantor. 

(f) Each Guarantor further agrees that its Guarantee herein constitutes a guarantee of payment, performance and compliance when due (and
not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. 

(g) Except as expressly set forth in Sections 8.01(b), 10.02 and 10.06, the obligations of each Guarantor hereunder shall not be subject
to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination
whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor herein shall not be discharged or impaired or
otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Notes or any other agreement, by any waiver or modification of any thereof, by any default, failure or
delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor or would otherwise
operate as a discharge of any Guarantor as a matter of law or equity. 
 (h) In furtherance of the foregoing and not in
limitation of any other right which any Holder or the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Issuers to pay the principal of or interest on any Guaranteed Obligation when and as the same shall
become due, whether at maturity, by acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises 

 

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to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders or the Trustee an amount equal to the sum of (i) the unpaid principal
amount of such Guaranteed Obligations, (ii) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by applicable law) and (iii) all other monetary obligations of the Issuers to the Holders and the
Trustee. 
 (i) Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in
respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Guarantor further agrees that, as between it, on the one hand, and the Holders and the Trustee, on the other hand, (i) the
maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of any Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the
Guaranteed Obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article 6, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due
and payable by such Guarantor for the purposes of this Section 10.01. 
 (j) Each Guarantor also agrees to pay any and all
costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under this Section 10.01. 

(k) Upon request of the Trustee, each Guarantor shall execute and deliver such further instruments and do such further acts as may be
reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 
 Section 10.02. Limitation on
Liability. (a) Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations guaranteed hereunder by any Guarantor shall not exceed the maximum amount (after giving effect to
all guarantees by it of senior indebtedness) that can be hereby guaranteed without rendering this Indenture or the Guarantees, as they relate to such Guarantor, subject to avoidance under applicable fraudulent conveyance provisions of the United
States Bankruptcy Code or other comparable provision of applicable law. 
 (b) A Guarantor shall be automatically and
unconditionally released and discharged from all of its obligations under its Guarantee of the Guaranteed Obligations under this Article 10 if: 

(i) in the case of Guarantor that is a Restricted Subsidiary: 

(A) all its assets or Capital Stock is sold or transferred, in each case in a transaction in compliance with
Section 4.06 hereof; 
 (B) the Guarantor merges with or into, or consolidates with or amalgamates with, or
transfers all or substantially all its assets to, another Person in compliance with Article 5 hereof; or 
  

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 (C) such Guarantor is designated an Unrestricted Subsidiary in accordance
with the terms of this Indenture; 
 (ii) such Guarantor has delivered to the Trustee a certificate of a
Responsible Officer and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to such transaction have been complied with; and 

(iii) such Guarantor is released from its guarantee (if any) of the Senior Secured Credit Agreement. 

Section 10.03. Successors and Assigns. This Article 10 shall be binding upon each Guarantor and its successors and assigns and
shall inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and
in the Notes shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. 

Section 10.04. Evidence of Guarantee. To evidence its Guarantee set forth in Section 10.01, each Guarantor shall execute this
Indenture on the Issue Date or a Supplemental Indenture in accordance with Section 10.07, as applicable. 
 Section 10.05.
No Waiver. Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any right, power or privilege under this Article 10 shall operate as a waiver thereof, nor shall a single or partial exercise thereof
preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and the Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which
either may have under this Article 10 at law, in equity, by statute or otherwise. 
 Section 10.06. Modification. No
modification, amendment or waiver of any provision of this Article 10, nor the consent to any departure by any Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver
or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other or further notice or demand in the same, similar or other
circumstances. 
 Section 10.07. Execution of Supplemental Indenture for Future Guarantors. (a) Each Subsidiary and other
Person which is required to become a Guarantor pursuant to this Article 10 shall promptly execute and deliver to the Trustee a supplemental indenture in the form of Exhibit C hereto pursuant to which such Subsidiary or other Person shall become a
Guarantor under this Article 10 and shall guarantee the Guaranteed Obligations. Concurrently with the execution and delivery of such supplemental indenture, the Company shall deliver to the Trustee an Opinion of Counsel and an Officer’s
Certificate to the effect that such supplemental indenture has been duly authorized, executed and delivered by such Subsidiary or other Person and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or
transfer and other similar laws relating to creditors’ rights generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of such Guarantor is a legal, valid and 

 

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binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms and/or to such other matters as the Trustee may reasonably request. 

ARTICLE 11 

MISCELLANEOUS 

Section 11.01. Trust Indenture Act Controls. If and to the extent that any provision of this Indenture limits, qualifies or
conflicts with the duties imposed by, or with another provision (an “incorporated provision”) included in this Indenture by operation of, Sections 310 to 318 of the TIA, inclusive, such imposed duties or incorporated provision shall
control. 
 Section 11.02. Notices. (a) Any notice or communication required or permitted hereunder shall be in writing
and delivered in person, via facsimile or mailed by first-class mail addressed as follows: 
 if to the Issuers or a Guarantor:

 c/o Graham Packaging Holdings Company 

2401 Pleasant Valley Road 

York, Pennsylvania 17402 

Attention: David W. Bullock, Chief Financial Officer 

Telephone No.: (717) 849-8627 

Facsimile No.: (717) 817-8516 

with a copy to: 

Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 

New York, New York 10017 

Attention: Richard A. Fenyes, Esq. 

Telephone No.: (212) 455-2812 

Facsimile No.: (212) 455-2502 

if to the Trustee: 

The Bank of New York Mellon 

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

525 William Penn Place 

38th Floor 

Pittsburgh, PA 15259 

Attn: Corporate Trust Department 

Fax: (412) 234-7535 

The Issuers or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or
communications. 
  

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 (b) Any notice or communication mailed to a Holder shall be mailed, first
class mail, to the Holder at the Holder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 

(c) Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with
respect to other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to the Trustee are effective only if received. 

Section 11.03. Communication by the Holders with Other Holders. The Holders may communicate pursuant to Section 312(b) of the
TIA with other Holders with respect to their rights under this Indenture or the Notes. The Issuers, the Trustee, the Registrar and other Persons shall have the protection of Section 312(c) of the TIA. 

Section 11.04. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Issuers to the Trustee
to take or refrain from taking any action under this Indenture, the Issuers shall furnish to the Trustee at the request of the Trustee: 

(a) an Officer’s Certificate in form reasonably satisfactory to the Trustee stating that, in the opinion of the signers, all
conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
 (b)
an Opinion of Counsel in form reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 

Section 11.05. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a
covenant or condition provided for in this Indenture (other than pursuant to Section 4.09) shall include: 

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

(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (c) a statement that, in the opinion of such individual,
he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(d) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied
with; provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officer’s Certificate or certificates of public officials. 

Section 11.06. When Notes Disregarded. In determining whether the Holders of the required principal amount of Notes have concurred
in any direction, waiver or consent, Notes 
  

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owned by the Issuers, any Guarantor or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuers or any Guarantor shall be
disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes which the Trustee knows are so owned shall be so
disregarded. Subject to the foregoing, only Notes outstanding at the time shall be considered in any such determination. 

Section 11.07. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by or a meeting of
the Holders. The Registrar and a Paying Agent may make reasonable rules for their functions. 
 Section 11.08. Legal
Holidays. If a payment date is not a Business Day, payment shall be made on the next succeeding day that is a Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such payment date if it were a
Business Day for the intervening period. If a regular record date is not a Business Day, the record date shall not be affected. 

Section 11.09. Governing Law. THIS INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK. 
 Section 11.10. Jurisdiction; Consent to Service of Process. (a) Each of the Issuers and the
Guarantors hereby irrevocably and unconditionally submits, for itself and its property, to the general jurisdiction of the New York State courts, sitting in the Borough of Manhattan, the City of New York, or the federal courts of the United States
of America for the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Indenture or the Notes, or for recognition or enforcement of any judgment, and each of the
parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such federal court. Each of the
parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Indenture shall affect any
right that any Holder may otherwise have to bring any action or proceeding relating to this Indenture or the Notes against the Issuers or any Guarantor or their properties in the courts of any jurisdiction. 

(b) Each of the Issuers and the Guarantors hereby irrevocably and unconditionally waives, and agrees not to plea or claim, to the fullest
extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Indenture or the Notes in any New York State or federal court.
Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(c) Each of the Issuers and the Guarantors hereby irrevocably and unconditionally appoints CT Corporation System with an office on the
date hereof at 111 Eighth Avenue, New York, New York 10011 and its successors hereunder (the “Process Agent”), as its agent to re-

 

 -92- 

 
ceive on behalf of each of the Issuers and any Guarantor and its property of all writs, claims, process, and summonses in any action or proceeding brought against it in the State of New York.
Such service may be made by mailing or delivering a copy of such process to the Issuers or any Guarantor, as the case may be, in care of the Process Agent at the address specified above for the Process Agent, and each of the Issuers and the
Guarantors hereby irrevocably authorizes and directs the Process Agent to accept such service on its behalf. Failure by the Process Agent to give notice to the Issuers or any Guarantor, as applicable, or failure of the Issuers or any Guarantor, as
applicable, to receive notice of such service of process shall not impair or affect the validity of such service on the Process Agent, the Issuers or any Guarantor, or of any judgment based thereon. Each of the Issuers and the Guarantors covenants
and agrees that it shall take any and all reasonable action, including the execution and filing of any and all documents, that may be necessary to continue the designation of the Process Agent above in full force and effect, and to cause the Process
Agent to act as such. Each of the Issuers and the Guarantors further covenants and agrees to maintain at all times an agent with offices in New York City to act as its Process Agent. Nothing herein shall in any way be deemed to limit the ability to
serve any such writs, process or summonses in any other manner permitted by applicable law. 
 Section 11.11. No Recourse
Against Others. No director, officer, employee, incorporator or holder of any equity interests in the Issuers or of any Guarantor or any direct or indirect parent, as such, shall have any liability for any obligations of the Issuers or the
Subsidiary Guarantors under the Notes or this Indenture or for any claim based on, in respect of, or by any reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. 

Section 11.12. Successors. All agreements of the Issuers and the Guarantors in this Indenture and the Notes shall bind their
successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 Section 11.13. Multiple
Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. 

Section 11.14. Table of Contents; Headings. The table of contents, cross-reference sheet and headings of the Articles and Sections
of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 

Section 11.15. Indenture Controls. If and to the extent that any provision of the Notes limits, qualifies or conflicts with a
provision of this Indenture, such provision of this Indenture shall control. 
 Section 11.16. Severability. In case any
provision in this 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 thereby and such provision shall be ineffective only to the
extent of such invalidity, illegality or unenforceability. 
  

 -93- 

 Section 11.17. Waiver of Jury Trial. EACH OF THE ISSUER, THE GUARANTORS AND THE
TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 Section 11.18. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation, non-Trustee strikes, work stoppages or accidents, acts of war or terrorism,
civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or services. 

 

 -94- 

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

			
	 The Company Issuers:

GPC CAPITAL CORP. I

		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

  

			
	 GRAHAM PACKAGING COMPANY, L.P.

		
	By:	 	GPC Opco GP, LLC,
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

  

 [Signature Page to the Indenture] 

			
	 The Parent Guarantor:

GRAHAM PACKAGING HOLDINGS COMPANY

	By:	 	 BCP/Graham Holdings LLC,

      its general partner

		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Assistant Treasurer

  

			
	The Guarantors:
	
	GPC SUB GP LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Secretary

 

			
	GPACSUB LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Secretary

 

			
	GRAHAM PACKAGING LATIN AMERICA, LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

  

			
	GRAHAM PACKAGING POLAND, L.P.
	By:	 	 GPACSUB LLC,

      its general partner

		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

  

 [Signature Page to the Indenture] 

			
	GRAHAM RECYCLING COMPANY, L.P.
	By:	 	 GPC Sub GP LLC,

      its general partner

		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Secretary

 

			
	GRAHAM PACKAGING FRANCE PARTNERS
	By:	 	 Graham Packaging Company, L.P.,

      its partner

		
	By:	 	GPC Opco GP LLC, its general partner
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

  

			
	GRAHAM PACKAGING WEST JORDAN, LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Secretary

 

			
	GRAHAM PACKAGING ACQUISITION CORP
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

  

 [Signature Page to the Indenture] 

			
	GRAHAM PACKAGING PLASTIC PRODUCTS INC.
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

	
	GRAHAM PACKAGING PET TECHNOLOGIES INC.
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

	
	GRAHAM PACKAGING REGIOPLAST STS INC.
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Secretary

	
	GRAHAM PACKAGING INTERNATIONAL PLASTIC PRODUCTS INC.
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

	
	GRAHAM PACKAGING LEASING USA LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

  

 [Signature Page to the Indenture] 

			
	GRAHAM PACKAGING COMERC USA LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

	
	GRAHAM PACKAGING CONTROLLERS USA LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

	
	GRAHAM PACKAGING TECHNOLOGICAL SPECIALTIES LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

	
	GRAHAM PACKAGING MINSTER LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Secretary

	
	GRAHAM PACKAGING GP ACQUISITION LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

  

 [Signature Page to the Indenture] 

			
	GRAHAM PACKAGING LP ACQUISITION LLC
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

  

			
	LIQUID CONTAINER INC.
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Vice Chairman

 

			
	WCK-L HOLDINGS, INC.
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Vice Chairman

 

			
	CPG-L HOLDINGS, INC.
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Vice Chairman

 

 [Signature Page to the Indenture] 

					
	LIQUID CONTAINER, L.P.
			
		 	By:	 	Liquid Container Inc., its General Partner
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Vice Chairman

 

			
	PLAXICON HOLDING CORPORATION
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Vice Chairman

 

					
	PLAXICON, LLC
			
		 	By:	 	Plaxicon Holding Corporation, its Sole Member
		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer and Vice Chairman

 

 [Signature Page to the Indenture] 

			
	PLAXICON COMPANY
		
	By:	 	 Plaxicon Holding Corporation,

      its partner

	By:	 	 Plaxicon, LLC,

      its partner

		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

		
	By:	 	/s/ David W. Bullock
		 	 Name: David W. Bullock

Title: Chief Financial Officer

  

 [Signature Page to the Indenture] 

 APPENDIX A 

PROVISIONS RELATING TO INITIAL SECURITIES, 

ADDITIONAL SECURITIES AND EXCHANGE SECURITIES 
  

	1.	Definitions. 

  

	 	1.1	Definitions. 

 For the
purposes of this Appendix A the following terms shall have the meanings indicated below: 
 “Applicable
Procedures” means, with respect to any transfer or transaction involving a Temporary Regulation S Global Note or beneficial interest therein, the rules and procedures of the Depository for such a Temporary Regulation S Global Note, to the
extent applicable to such transaction and as in effect from time to time. 
 “Definitive Note” means a
certificated Note bearing, if required, the appropriate restricted securities legend set forth in Section 3(e). 

“Depository” means The Depository Trust Company, its nominees and their respective successors. 

“Distribution Compliance Period,” with respect to any Notes, means the period of 40 consecutive days beginning on and
including the later of (i) the day on which such Notes are first offered to Persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S and (ii) the issue date with respect to such
Notes. 
 “Global Notes Legend” means the legend set forth under that caption in the applicable Exhibit to this
Indenture. 
 “Initial Purchasers” means Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and
Goldman, Sachs & Co. 
 “Non-U.S. Person” means a Person who is not a U.S. person, as defined in
Regulation S. 
 “Notes Custodian” means the custodian with respect to a Global Note (as appointed by the
Depository), or any successor Person thereto and shall initially be the Trustee. 
 “QIB” means a
“qualified institutional buyer” as defined in Rule 144A. 
 “Registered Exchange Offer” means the
offer by the Issuers, pursuant to the Registration Rights Agreement, to certain Holders of Initial Notes, to issue and deliver to such Holders, in exchange for their Initial Notes, a like aggregate principal amount of Exchange Notes registered under
the Securities Act. 
  

 Appendix A-1 

 “Registration Rights Agreement” means (a) the Registration Rights
Agreement dated as of September 23, 2010 among the Issuers, the Guarantors and the Initial Purchasers relating to the Notes and (b) any other similar Registration Rights Agreement relating to Additional Notes. 

“Regulation S” means Regulation S under the Securities Act. 

“Restricted Note” has the same meaning as “Restricted Security” set forth in Rule 144(a)(3) promulgated under
the Securities Act; provided that the Trustee shall be entitled to request and conclusively rely upon an Opinion of Counsel with respect to whether any Note is a Restricted Note. 

“Restricted Notes Legend” means the legends set forth in Sections 3(e)(i) and 3(e)(ii) herein. 

“Restricted Period,” with respect to any Notes, means the period of 40 consecutive days beginning on and including the
later of (a) the day on which such Notes are first offered to persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S, notice of which day shall be promptly given by the Issuers to the
Trustee, and (b) the Issue Date, and with respect to any Additional Notes that are Transfer Restricted Notes, it means the comparable period of 40 consecutive days. 

“Rule 144” means Rule 144 promulgated under the Securities Act. 

“Rule 144A” means Rule 144A under the Securities Act. 

“Rule 144A Notes” means all Initial Notes offered and sold to QIBs in reliance on Rule 144A. 

“Shelf Registration Statement” means a registration statement filed by the Issuers in connection with the offer and sale
of Initial Notes pursuant to the Registration Rights Agreement. 
 “Transfer Restricted Notes” means Notes that
bear or are required to bear the legend set forth in Section 3(e) hereto. 
  

	2.	Form and Dating; Book Entry Provisions. 

2.1(a)(i) The Original Notes will be offered and sold by the Issuers pursuant to the Purchase Agreement. The Original Notes will be resold
initially only to (i) QIBs in reliance on Rule 144A under the Securities Act and (ii) Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S. Such Original Notes may thereafter be transferred to, among
others, QIBs and purchasers in reliance on Regulation S, subject to the restrictions on transfer set forth herein. Original Notes initially resold pursuant to Rule 144A shall be issued in the form of one or more permanent global notes in definitive,
fully registered form without interest coupons (collectively, the “Rule 144A Global Note”); and Original Notes initially resold pursuant to Regulation S shall be issued initially in the form of one or more temporary global notes in
fully registered form (collectively, the “Temporary Regulation S Global Note”), in 
  

 Appendix A-2 

 
each case without interest coupons and with the global notes legend and the applicable restricted notes legend set forth in Exhibit A hereto, which shall be deposited on behalf of the purchasers
of the Original Notes represented thereby with the Original Notes Custodian and registered in the name of the Depository or a nominee of the Depository, duly executed by the Issuers and authenticated by the Trustee as provided in this Indenture.
Except as set forth in this Section 2.1(a), beneficial ownership interests in the Temporary Regulation S Global Note will not be exchangeable for interests in the Rule 144A Global Note, a permanent global notes (the “Permanent
Regulation S Global Note” and together with the Temporary Regulation S Global Note, the “Regulation S Global Note”) or any other Note prior to the expiration of the Distribution Compliance Period and then, after the
expiration of the Distribution Compliance Period, may be exchanged for interests in a Rule 144A Global Note only upon certification in form reasonably satisfactory to the Trustee that beneficial ownership interests in such Temporary Regulation S
Global Note are owned either by non-U.S. persons or U.S. persons who purchased such interests in a transaction that did not require registration under the Securities Act. 

(ii) Beneficial interests in Temporary Regulation S Global Notes may be exchanged for interests in Rule 144A Global Notes if
(1) such exchange occurs in connection with a transfer of Notes in compliance with Rule 144A and (2) the transferor of the beneficial interest in the Temporary Regulation S Global Note first delivers to the Trustee a written certificate
(in a form satisfactory to the Trustee) to the effect that the beneficial interest in the Temporary Regulation S Global Note as applicable, is being transferred to a Person (A) who the transferor reasonably believes to be a QIB,
(B) purchasing for its own account or the account of a QIB in a transaction meeting the requirements of Rule 144A, and (C) in accordance with all applicable securities laws of the States of the United States and other jurisdictions.

 (iii) Beneficial interests in a Rule 144A Global Note may be transferred to a Person who takes delivery in the form of an
interest in a Regulation S Global Note, whether before or after the expiration of the Distribution Compliance Period, only if the transferor first delivers to the Trustee a written certificate (in the form provided in the Indenture) to the effect
that such transfer is being made in accordance with Rule 903 or 904 of Regulation S or Rule 144 (if applicable). 
 (iv) The
Rule 144A Global Note, the Temporary Regulation S Global Note and the Permanent Regulation S Global Note are collectively referred to herein as “Global Notes”. The aggregate principal amount of the Global Notes may from time to time
be increased or decreased by adjustments made on the records of the Trustee and the Depository or its nominee as hereinafter provided. 

(b) Book-Entry Provisions. This Section 2.1(b) shall apply only to a Global Note deposited with or on behalf of the
Depository. 
 (i) The Issuers shall execute and the Trustee shall, in accordance with this Section 2.1(b),
authenticate and deliver initially one or more Global Notes that (A) shall be registered in the name of the Depository for such Global Note or Global Notes or the nominee of such Depository and (B) shall be delivered by the Trustee to such
Depository or pursuant to such Depository’s instructions or held by the Trustee as custodian for the Depository. 
  

 Appendix A-3 

 (ii) Members of, or participants in, the Depository (“Agent
Members”) shall have no rights under this Indenture with respect to any Global Note held on their behalf by the Depository or by the Trustee as its custodian of the Depository or under such Global Note, and the Issuers, the Trustee and any
agent of the Issuers or the Trustee shall be entitled to treat the Depository as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuers, the Trustee or any agent of
the Issuers or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices of such Depository
governing the exercise of the rights of a holder of a beneficial interest in any Global Note. 
 (iii) After a
transfer of any Initial Notes during the period of the effectiveness of a Shelf Registration Statement with respect to such Initial Notes, all requirements pertaining to the Restricted Notes Legend on such Initial Notes shall cease to apply and the
requirements that any such Initial Notes be issued in global form shall continue to apply. 
 (iv) Upon the
consummation of a Registered Exchange Offer with respect to the Initial Notes pursuant to which Holders of such Initial Notes are offered Exchange Notes in exchange for their Initial Notes, all requirements pertaining to Initial Notes that Initial
Notes be issued in global form shall continue to apply, and Exchange Notes in global form without the Restricted Notes Legend shall be available to Holders that exchange such Initial Notes in such Registered Exchange Offer. 

(c) Definitive Notes. Except as provided in this Section 2.1 or Sections 3 or 4, owners of beneficial interests in Restricted
Global Notes shall not be entitled to receive physical delivery of Definitive Notes. 
 (d) The terms and provisions contained
in the Notes shall constitute, and are expressly made, a part of this Indenture and, to the extent applicable, the Issuer, the Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and
provisions and agree to be bound thereby. 
 (e) The Notes may be presented for registration of transfer and exchange at the
offices of the Registrar. 
  

	3.	Special Transfer Provisions. 

(a) Transfer and Exchange of Definitive Notes. When Definitive Notes are presented to the Registrar with a request: 

(x) to register the transfer of such Definitive Notes; or 

(y) to exchange such Definitive Notes for an equal principal amount of Definitive Notes of other authorized denominations,

  

 Appendix A-4 

 the Registrar shall register the transfer or make the exchange as requested if its reasonable requirements
for such transaction are met; provided, however, that the Definitive Notes surrendered for transfer or exchange: 

(i) shall be duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the
Issuers and the Registrar, duly executed by the Holder thereof or its attorney duly authorized in writing; and 

(ii) if such Definitive Notes are required to bear a restricted securities legend, they are being transferred or exchanged
pursuant to an effective registration statement under the Securities Act, pursuant to Section 2.2(b) or pursuant to clause (A), (B) or (C) below, and are accompanied by the following additional information and documents, as
applicable: 
 (A) if such Definitive Notes are being delivered to the Registrar by a Holder for registration in
the name of such Holder, without transfer, a certification from such Holder to that effect; or 
 (B) if such
Definitive Notes are being transferred to the Issuer, a certification to that effect; or 
 (C) if such
Definitive Notes are being transferred (x) pursuant to an exemption from registration in accordance with Rule 144A, Regulation S or Rule 144 under the Securities Act; or (y) in reliance upon another exemption from the requirements of the
Securities Act: (i) a certification to that effect (in the form set forth on the reverse of the Note) and (ii) if the Issuers so request, an opinion of counsel or other evidence reasonably satisfactory to it as to the compliance with the
restrictions set forth in the legend set forth in Section 3(e)(i). 
 (b) Restrictions on Transfer of a Definitive Note
for a Beneficial Interest in a Global Note. A Definitive Note may not be exchanged for a beneficial interest in a Rule 144A Global Note or a Permanent Regulation S Global Note except upon satisfaction of the requirements set forth below. Upon
receipt by the Trustee of a Definitive Note, duly endorsed or accompanied by appropriate instruments of transfer, in form satisfactory to the Trustee, together with: 

(i) certification, in the form set forth on the reverse of the Note, that such Definitive Note is either (A) being
transferred to a QIB in accordance with Rule 144A or (B) being transferred after expiration of the Distribution Compliance Period by a Person who initially purchased such Note in reliance on Regulation S to a buyer who elects to hold its
interest in such Note in the form of a beneficial interest in the Permanent Regulation S Global Note; and 
 (ii)
written instructions directing the Trustee to make, or to direct the Notes Custodian to make, an adjustment on its books and records with respect to such Rule 144A Global Note (in the case of a transfer pursuant to clause (b)(i)(A)) or Permanent
Regulation S Global Note (in the case of a transfer pursuant to clause (b)(i)(B)) to reflect an increase in the aggregate principal amount of the Notes represented by the Rule 144A 

 

 Appendix A-5 

 
Global Note or Permanent Regulation S Global Note, as applicable, such instructions to contain information regarding the Depository account to be credited with such increase, 

then the Trustee shall cancel such Definitive Note and cause, or direct the Notes Custodian to cause, in accordance with the standing instructions and
procedures existing between the Depository and the Notes Custodian, the aggregate principal amount of Notes represented by the Rule 144A Global Note or Permanent Regulation S Global Note, as applicable, to be increased by the aggregate principal
amount of the Definitive Note to be exchanged and shall credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Rule 144A Global Note or Permanent Regulation S Global Note, as
applicable, equal to the principal amount of the Definitive Note so canceled. If no Rule 144A Global Notes or Permanent Regulation S Global Notes, as applicable, are then outstanding, the Issuers shall issue and the Trustee shall authenticate, upon
written order of the Issuers in the form of an Officers’ Certificate of the Issuer, a new Rule 144A Global Note or Permanent Regulation S Global Note, as applicable, in the appropriate principal amount. 

(c) Transfer and Exchange of Global Notes. 

(i) The transfer and exchange of Global Notes or beneficial interests therein shall be effected through the Depository, in accordance
with this Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depository therefor. A transferor of a beneficial interest in a Global Note shall deliver to the Registrar a written order given
in accordance with the Depository’s procedures containing information regarding the participant account of the Depository to be credited with a beneficial interest in the Global Note. The Registrar shall, in accordance with such instructions,
instruct the Depository to credit to the account of the Person specified in such instructions a beneficial interest in the Global Note and to debit the account of the Person making the transfer the beneficial interest in the Global Note being
transferred. 
 (ii) If the proposed transfer is a transfer of a beneficial interest in one Global Note to a beneficial interest
in another Global Note, the Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Note to which such interest is being transferred in an amount equal to the principal amount of the interest
to be so transferred, and the Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of the Global Note from which such interest is being transferred. 

(iii) Notwithstanding any other provisions of Article 2 of this Indenture or this Appendix A (other than the provisions set forth in
Section 4) a Global Note may not be transferred as a whole except by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or any such nominee
to a successor Depository or a nominee of such successor Depository. 
 (iv) In the event that a Global Note is exchanged for
Definitive Notes pursuant to Section 4, such Notes may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of this Section 2.2 (including the certification requirements set forth on the
reverse of the Notes intended to ensure that such transfers comply with Rule 
  

 Appendix A-6 

 
144A, Regulation S or another applicable exemption under the Securities Act, as the case may be) and such other procedures as may from time to time be adopted by the Issuer. 

(d) Restrictions on Transfer of Temporary Regulation S Global Notes. During the Distribution Compliance Period, beneficial
ownership interests in Temporary Regulation S Global Notes may only be sold, pledged or transferred in accordance with the Applicable Procedures and only (i) to Issuers, (ii) in an offshore transaction in accordance with Regulation S
(other than a transaction resulting in an exchange for an interest in a Permanent Regulation S Global Note) or (iii) pursuant to an effective registration statement under the Securities Act, in each case in accordance with any applicable
securities laws of any State of the United States. 
 (e) Legend. 

(i) Except as permitted by the following paragraphs (ii), (iii) and (iv), each Note certificate evidencing the Global Notes (and all
Notes issued in exchange therefor or in substitution thereof), in the case of Notes offered otherwise than in reliance on Regulation S, shall bear a legend in substantially the following form: 

THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS NOTE MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS NOTE IS HEREBY NOTIFIED THAT THE
SELLER OF THIS NOTE MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. 

THE HOLDER OF THIS NOTE AGREES FOR THE BENEFIT OF THE ISSUERS THAT (A) THIS NOTE MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED, ONLY (I) TO THE ISSUERS, (II) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF
RULE 144A, (III) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (IV) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR
(V) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (V), IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH
SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS NOTE FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE. 
  

 Appendix A-7 

 Each certificate evidencing a Note offered in reliance on Regulation S shall, in addition to
the foregoing, bear a legend in substantially the following form: 
 THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A
TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT
PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT. 

Each Definitive Note shall also bear the following additional legend: 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS
SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 
 (ii) Upon
any sale or transfer of a Transfer Restricted Note (including any Transfer Restricted Note represented by a Global Note) pursuant to Rule 144 under the Securities Act, the Registrar shall permit the transferee thereof to exchange such Transfer
Restricted Note for a certificated Note that does not bear the legend set forth above and rescind any restriction on the transfer of such Transfer Restricted Note, if the transferor thereof certifies in writing to the Registrar that such sale or
transfer was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Note). 
 (f)
Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Definitive Notes, redeemed, repurchased or canceled, such Global Note shall be returned to the Depository for
cancellation or retained and canceled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Definitive Notes, redeemed, purchased or canceled, the principal amount of Notes represented
by such Global Note shall be reduced and an adjustment shall be made on the books and records of the Trustee (if it is then the Notes Custodian for such Global Note) with respect to such Global Note, by the Trustee or the Notes Custodian, to reflect
such reduction. 
 (g) No Obligation of the Trustee. 

(i) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a participant in the
Depository or other Person with respect to the accuracy of the records of the Depository or its nominee or of any participant or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any participant,
member, beneficial owner or other Person (other than the Depository) of any notice (in-
  

 Appendix A-8 

 
cluding any notice of redemption or repurchase) or the payment of any amount, under or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be
made to Holders under the Notes shall be given or made only to or upon the order of the registered Holders (which shall be the Depository or its nominee in the case of a Global Note). The rights of beneficial owners in any Global Note shall be
exercised only through the Depository subject to the applicable rules and procedures of the Depository. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depository with respect to its members,
participants and any beneficial owners. 
 (ii) The Trustee shall have no obligation or duty to monitor, determine or inquire as
to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depository participants, members or beneficial
owners in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to
determine substantial compliance as to form with the express requirements hereof. 
  

	4.	Certificated Notes. 

 (a)
A Global Note deposited with the Depository or with the Trustee as Notes Custodian for the Depository pursuant to Section 2.1 shall be transferred to the beneficial owners thereof in the form of Definitive Notes in an aggregate principal amount
equal to the principal amount of such Global Note, in exchange for such Global Note, only if such transfer complies with Section 2.2 hereof and (i) the Depository notifies the Issuer that it is unwilling or unable to continue as Depository
for such Global Note and the Depository fails to appoint a successor depository or if at any time such Depository ceases to be a “clearing agency” registered under the Exchange Act and, in either case, a successor depositary is not
appointed by the Issuer within 90 days of such notice or (ii) an Event of Default has occurred and is continuing. 

(b) Any Global Note that is transferable to the beneficial owners thereof pursuant to this Section 4 shall be surrendered by the
Depository to the Trustee located at its principal corporate trust office in the Borough of Manhattan, The City of New York, to be so transferred, in whole or from time to time in part, without charge, and the Trustee shall authenticate and deliver,
upon such transfer of each portion of such Global Note, an equal aggregate principal amount of Definitive Notes of authorized denominations. Any portion of a Global Note transferred pursuant to this Section 4 shall be executed, authenticated
and delivered only in denominations of US$2,000 principal amount or any integral multiple of US$1,000 in excess thereof and registered in such names as the Depository shall direct. Any Definitive Note delivered in exchange for an interest in the
Transfer Restricted Note shall, except as otherwise provided by Section 3(e) hereof, bear the applicable restricted securities legend and definitive note legend set forth in Exhibit B hereto. 

(c) Subject to the provisions of Section 4(b) hereof, the registered Holder of a Global Note shall be entitled to grant proxies and
otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Notes. 

 

 Appendix A-9 

 (d) In the event of the occurrence of one of the events specified in Section 4 hereof,
the Issuer shall promptly make available to the Trustee a reasonable supply of Definitive Notes in definitive, fully registered form without interest coupons. In the event that the Definitive Notes are not issued to each such beneficial owner
promptly after the Registrar has received a request from the Holder of a Global Note to issue such Certificated Note, the Issuer expressly acknowledges, with respect to the right of any Holder to pursue a remedy pursuant to Article 6 of the
Indenture, the right of any beneficial holder of Notes to pursue such remedy with respect to the portion of the Global Note that represents such beneficial holder’s Notes as if such Certificated Notes had been issued. 

(e) By its acceptance of any Note bearing any Legend in Section 3(e), each Holder of such Note acknowledges the restrictions on
transfer of such Note set forth in this Indenture and in such Legend in Section 3(e) and agrees that it will transfer such Note only as provided in this Indenture. 

The Registrar shall retain for a period of two years copies of all letters, notices and other written communications received pursuant to
Section 2.1 or this Section 4. The Issuer shall have the right to inspect and make copies of all such letters, notices or other written communications at any reasonable time upon the giving of reasonable notice to the Registrar.

  

 Appendix A-10 

 EXHIBIT A 

[FORM OF FACE OF INITIAL NOTE] 

[Global Notes Legend] 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL NOTE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 [[FOR REGULATION S GLOBAL NOTE ONLY] UNTIL 40 DAYS AFTER THE LATER
OF COMMENCEMENT OR COMPLETION OF THE OFFERING, AN OFFER OR SALE OF SECURITIES WITHIN THE UNITED STATES BY A DEALER (AS DEFINED IN THE SECURITIES ACT) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IF SUCH OFFER OR SALE IS MADE
OTHERWISE THAN IN ACCORDANCE WITH RULE 144A THEREUNDER.] 
 [Restricted Notes Legend for Notes Offered 

Otherwise than in Reliance on Regulation S] 

THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS NOTE MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS NOTE IS HEREBY NOTIFIED THAT THE
SELLER OF THIS NOTE MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. 

THE HOLDER OF THIS NOTE AGREES FOR THE BENEFIT OF THE ISSUERS THAT (A) THIS NOTE MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED, ONLY (I) TO THE ISSUERS, (II) IN THE UNITED STATES TO A PER-
  

 A-1 

 
SON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (III) OUTSIDE
THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (IV) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (V) PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (V) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS
REQUIRED TO, NOTIFY ANY PURCHASER OF THIS NOTE FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE. 
 [Restricted
Notes Legend for Notes Offered in Reliance on Regulation S.] 
 THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A
TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT
PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT. 

[Temporary Regulation S Global Note Legend] 

EXCEPT AS SET FORTH BELOW, BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE WILL NOT BE EXCHANGEABLE FOR
INTERESTS IN THE PERMANENT REGULATION S GLOBAL NOTE OR ANY OTHER NOTE REPRESENTING AN INTEREST IN THE NOTES REPRESENTED HEREBY WHICH DO NOT CONTAIN A LEGEND CONTAINING RESTRICTIONS ON TRANSFER, UNTIL THE EXPIRATION OF THE “40-DAY DISTRIBUTION
COMPLIANCE PERIOD” (WITHIN THE MEANING OF RULE 903(b)(2) OF REGULATION S UNDER THE SECURITIES ACT) AND THEN ONLY UPON CERTIFICATION IN FORM REASONABLY SATISFACTORY TO THE TRUSTEE THAT SUCH BENEFICIAL INTERESTS ARE OWNED EITHER BY NON-U.S.
PERSONS OR U.S. PERSONS WHO PURCHASED SUCH INTERESTS IN A TRANSACTION THAT DID NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT. DURING SUCH 40-DAY DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL
NOTE MAY ONLY BE SOLD, PLEDGED OR TRANSFERRED (I) TO THE ISSUER, (II) OUTSIDE THE UNITED STATES IN A TRANSACTION IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, OR (III) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (III) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. HOLDERS OF INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE WILL NOTIFY ANY PURCHASER OF

  

 A-2 

 
THIS NOTE OF THE RESALE RESTRICTIONS REFERRED TO ABOVE, IF THEN APPLICABLE. 

BENEFICIAL INTERESTS IN A RULE 144A GLOBAL NOTE MAY BE TRANSFERRED TO A PERSON WHO TAKES DELIVERY IN THE FORM OF AN INTEREST IN THE
REGULATION S GLOBAL NOTE, WHETHER BEFORE OR AFTER THE EXPIRATION OF THE 40-DAY DISTRIBUTION COMPLIANCE PERIOD, ONLY IF THE TRANSFEROR FIRST DELIVERS TO THE TRUSTEE A WRITTEN CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT THAT
SUCH TRANSFER IS BEING MADE IN ACCORDANCE WITH RULE 903 OR 904 OF REGULATION S OR RULE 144 (IF AVAILABLE). 
 [Definitive Notes
Legend] 
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND
OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 
  

 A-3 

 [FORM OF INITIAL NOTE] 

No. 
 8.25% Senior Note due 2018

 CUSIP No. [144A: 38470R AJ0] / [REG S: U38520 AD1] 

ISIN No. [144A: US38470RAJ05] / [REG S: USU38520AD17] 

GRAHAM PACKAGING COMPANY, L.P., a Delaware limited partnership, and GPC CAPITAL CORP. I, a Delaware corporation, promise to pay to
[                    ], or its registered assigns, the principal sum [of
            Dollars] [listed on the Schedule of Increases or Decreases in Global Security attached
hereto]1 on October 1, 2018. 

Interest Payment Dates: April 1 and October 1. 

Record Dates: March 15 and September 15. 

Additional provisions of this Note are set forth on the other side of this Note. 

IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed. 

 

			
	 GRAHAM PACKAGING COMPANY, L.P.
  

By: GPC OPCO GP LLP

		
	By:	 	 
		 	 Name:

Title:

  

			
	GPC CAPITAL CORP. I
		
	By:	 	 
		 	 Name:

Title:

 Dated:

  

	1
	Use the Schedule of Increases and Decreases language if Security is in Global Form. 

 

 A-4 

 TRUSTEE’S CERTIFICATION OF 

    AUTHENTICATION 
 THE
BANK OF NEW YORK MELLON, 
     as Trustee, certifies that this is one of the 

    Notes referred to in the Indenture 
  

			
		
	By:	 	 
		 	 Authorized Signatory

Title:

  

	
	
	  

  

	*/	If the Note is to be issued in global form, add the Global Notes Legend and the attachment from Exhibit A captioned “TO BE ATTACHED TO GLOBAL
SECURITIES—SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY”. 

  

 A-5 

 [FORM OF REVERSE SIDE OF INITIAL NOTE] 

8.25% Senior Note due 2018 
  

	1.	Interest 

 (a) GRAHAM
PACKAGING COMPANY, L.P., a Delaware limited partnership (the “Company”), and GPC CAPITAL CORP. I (together with their respective successors and assigns under the Indenture hereinafter referred to, being herein called the
“Issuers”) promise to pay interest on the principal amount of this Note at the rate per annum shown above. The Issuers shall pay interest semiannually on April 1 and October 1 of each year, commencing April 1,
20112. Interest on the Notes shall accrue from the most
recent date to which interest has been paid or duly provided for or, if no interest has been paid or duly provided for, from September 23,
20103 until the principal hereof is due. Interest shall be
computed on the basis of a 360-day year of twelve 30-day months. The Issuers shall pay interest on overdue principal at the rate borne by the Notes, and they shall pay interest on overdue installments of interest at the same rate to the extent
lawful. 
 (b) Registration Rights Agreement. The Holder of this Note is entitled to the benefits of a Registration
Rights Agreement, dated as of September 23, 2010, among the Issuers, the Guarantors and the Initial Purchasers named therein. 
  

	2.	Method of Payment 

 The
Issuers shall pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders at the close of business on March 15 or September 15 next preceding the interest payment date even if Notes are canceled after
the record date and on or before the interest payment date (whether or not a Business Day). Holders must surrender the Notes to a Paying Agent to collect principal payments. The Issuers shall pay principal, premium, if any, and interest in money of
the United States of America that at the time of payment is legal tender for payment of public and private debts. Payments in respect of the Notes represented by a Global Note (including principal, premium, if any, and interest) shall be made by
wire transfer of immediately available funds to the accounts specified by The Depository Trust Company, an Issuer or any successor depositary. The Issuers will make all payments in respect of a certificated Note (including principal, premium, if
any, and interest), at the office of each Paying Agent, except that, at the option of the Issuers, payment of interest may be made by mailing a check to the registered address of each Holder thereof; provided, however, that payments on
the Notes may also be made, in the case of a Holder of at least $1,000,000 aggregate principal amount of the Notes, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if 

 
  
  

 

	2
	With respect to the Original Notes. 

	3
	With respect to the Original Notes. 

  

 A-6 

 
such Holder elects payment by wire transfer by giving written notice to the Trustee or a Paying Agent to such effect designating such account no later than 30 days immediately preceding the
relevant due date for payment (or such other date as the Trustee may accept in its discretion). 
  

	3.	Paying Agent and Registrar 

Initially, The Bank of New York Mellon, a New York banking corporation (the “Trustee”), will act as Paying Agent and Registrar.
The Issuers may appoint and change any Paying Agent or Registrar without notice. The Issuers may act as Paying Agent or Registrar. 
  

	4.	Indenture 

 The Issuers
issued the Notes under an Indenture dated as of September 23, 2010 (the “Indenture”), among the Issuers, the Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture
by reference to the Trust Indenture Act of 1939 as in effect on the date of the Indenture (the “TIA”). Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all
terms and provisions of the Indenture, and the Holders (as defined in the Indenture) are referred to the Indenture and the TIA for a statement of such terms and provisions. 

The Notes are senior unsecured obligations of the Issuers. This Note is one of the Initial Notes referred to in the Indenture. The Notes
include the Initial Notes and any Exchange Notes issued in exchange for Initial Notes pursuant to the Indenture. The Indenture imposes certain limitations on the ability of the Company’s Restricted Subsidiaries to, among other things, make
certain Investments and other Restricted Payments, pay dividends and other distributions, incur Indebtedness, enter into consensual restrictions upon the payment of certain dividends and distributions by such Restricted Subsidiaries, issue or sell
shares of capital stock of such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create or incur Liens and make asset sales. The Indenture also imposes limitations on the ability of the Issuers and each Guarantor
to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all of its property. 

To guarantee the due and punctual payment of the principal and interest on the Notes and all other amounts payable by the Issuers under
the Indenture and the Notes when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Guarantors (as described in the Indenture) have, jointly and
severally, unconditionally guaranteed the Guaranteed Obligations on a senior basis pursuant to the terms of the Indenture. 
  

	5.	Redemption and Repurchase 

This Note is subject to optional redemption and may be the subject of an Offer to Purchase, as further described in the Indenture.

  

	6.	Sinking Fund 

 The Notes
are not subject to any sinking fund. 
  

 A-7 

	7.	Denominations; Transfer; Exchange 

The Notes are in registered form, without coupons, in denominations of $2,000 and whole multiples of $1,000 in excess thereof. A Holder
shall register the transfer of or exchange of Notes in accordance with the Indenture. Upon any registration of transfer or exchange, the Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements or
transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the portion
of the Notes not to be redeemed) or to transfer or exchange any Notes for a period of 15 days prior to a selection of Notes to be redeemed. 
  

	8.	Persons Deemed Owners 

The registered Holder of this Note shall be treated as the owner of it for all purposes. 

 

	9.	Unclaimed Money 

 If money
for the payment of principal or interest remains unclaimed for two years, the Trustee and a Paying Agent shall pay the money back to the Issuers at their written request unless an abandoned property law designates another Person. After any such
payment, the Holders entitled to the money must look to the Issuers for payment as general creditors and the Trustee and a Paying Agent shall have no further liability with respect to such monies. 

 

	10.	Discharge and Defeasance 

Subject to certain conditions, the Issuers at any time may terminate some of or all of their obligations under the Notes and the Indenture
if the Issuers deposit with the Trustee money or Government Securities for the payment of principal of, and interest on the Notes to redemption, or maturity, as the case may be. 

 

	11.	Amendment, Waiver 

Subject to certain exceptions set forth in the Indenture, the Indenture and the Notes may be amended, or default may be waived, with the
consent of the Holders of a majority in principal amount of the outstanding Notes. Without notice to or the consent of any Holder, the Issuers and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any
ambiguity, defect or inconsistency. 
  

	12.	Defaults and Remedies 

 If
an Event of Default occurs (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuers) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the outstanding
Notes, in each case, by notice to the Issuers, may declare the principal of, premium, if any, and accrued but unpaid interest on all the Notes to be due and payable. If an Event of Default relating to certain events of bankruptcy, insolvency or
reorganization of the Issuers occurs, the principal of, premium, if any, and interest on all the Notes shall become immediately due and payable without any declaration or other act 

 

 A-8 

 
on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Notes may rescind any such acceleration with respect to
the Notes and its consequences. 
  

	13.	Trustee Dealings with the Issuer 

Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its individual or any other capacity, may become
the owner or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Issuers or its Affiliates and may otherwise deal with the Issuers or its Affiliates with the same rights it would have if it were not Trustee.

  

	14.	No Recourse Against Others 

No director, officer, employee, incorporator or holder of any equity interests in the Issuers or of any Guarantor or any direct or
indirect parent, as such, shall have any liability for any obligations of the Issuers or the Guarantors under the Notes or this Indenture or for any claim based on, in respect of, or by any reason of, such obligations or their creation. Each Holder
of Notes by accepting a Note waives and releases all such liability. 
  

	15.	Authentication 

 This Note
shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Note. 

 

	16.	Abbreviations 

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

	17.	Governing Law 

 THIS
NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  

	18.	CUSIP Numbers, ISINs and Common Codes 

The Issuers have caused CUSIP numbers and ISINs to be printed on the Notes and has directed the Trustee to use CUSIP numbers and ISINs in
notices of redemption as a convenience to the Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other
identification numbers placed thereon. 
 The Issuers will furnish to any Holder of Notes upon written request and without
charge to the Holder a copy of the Indenture which has in it the text of this Note. 
  

 A-9 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

I or we assign and transfer this Note to 

(Print or type assignee’s name, address and zip code) 

(Insert assignee’s soc. sec. or tax I.D. No.) 

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

                         
                                         
                                         
                                         
                                         
                                         
                            
  

			
	Date:                             
                                         
                                         
	  	Your
Signature:                                       
                                         
             

                         
                                         
                                         
                                         
                                         
                                         
                            

Sign exactly as your name appears on the other side of this Note. 

In connection with any transfer of any of the Notes evidenced by this certificate occurring prior to the expiration of the period referred to in
Rule 144 under the Securities Act after the later of the date of original issuance of such Notes and the last date, if any, on which such Notes were owned by the Issuer or any Affiliate of the Issuer, the undersigned confirms that such
Notes are being transferred in accordance with its terms: 
 CHECK ONE BOX BELOW 

 

					
	 (1)
	  	 ̈	  	to the Issuer; or
			
	 (2)
	  	 ̈	  	pursuant to an effective registration statement under the Securities Act of 1933; or
			
	 (3)
	  	 ̈	  	inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for
the account of a qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or
			
	 (4)
	  	 ̈	  	outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of
1933;
			
	 (5)
	  	 ̈	  	pursuant to the exemption from registration provided by Rule 144 under the Securities Act of 1933; or

 

 A-10 

					
		  		  	Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced by this certificate in the name of any person other than the registered holder
thereof; provided, however, that if box (4), (5) or (6) is checked, the Trustee shall be entitled to require, prior to registering any such transfer of the Notes, such legal opinions, certifications and other information as the Issuer
has reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

 

					
		 		 	
			
	 	 		 	  
		 		 	Signature
	Signature Guarantee:	 		 	
			
	  	 		 	  
	Signature must be guaranteed	 		 	Signature

 SIGNATURE GUARANTEE 

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which
requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for,
STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

                         
                                         
                                         
                                         
                                         
                                         
                            

 

 A-11 

 TO BE COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on
Rule 144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is
relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

			
		
	Dated:	 	 
		 	Notice: To be executed by an executive officer

  

 A-12 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuers pursuant to Section 4.06 (Asset Sale) or Section 4.08 (Change
of Control) of the Indenture, check the box: 
  

			
	Asset Sale     ̈	  	Change of Control     ̈

If you want to elect to have only part of this Note purchased by the Issuers pursuant to Section 4.06 (Asset Sale) or
Section 4.08 (Change of Control) of the Indenture, state the amount ($2,000 or an integral multiple of $1,000 in excess thereof): 
 $

  

									
					
	Dated: 	 	 	 		 	Your Signature:	 	 
		 		 		 		 	(Sign exactly as your name appears on the other side of this Note)

  

			
		
	Signature Guarantee: 	  	 
		  	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the
Trustee

  

 A-13 

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 

The initial principal amount of this Global Note is
$                        . The following increases or decreases in this Global Note have been made: 

 

									
	 Date of
Exchange
	 	 Amount of decrease
in Principal Amount
of this Global Note

	 	 Amount of increase
in Principal Amount
of this Global Note

	  	 Principal amount of
this Global Note
following such decrease
or
increase
	  	 Signature of authorized
signatory of Trustee or
Notes
Custodian

  

 A-14 

 EXHIBIT B 

[FORM OF FACE OF EXCHANGE NOTE] 

[Global Notes Legend] 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL NOTE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
  

 B-1 

 No. 

8.25% Senior Note due 2018 

CUSIP No. 38470R AK7 

ISIN No. US38470RAK77 

GRAHAM PACKAGING COMPANY, L.P., a Delaware limited partnership (the “Company”), and GPC CAPITAL CORP. I., a Delaware
corporation, promise to pay to [                    ], or registered assigns, the principal sum [of
                     Dollars] [listed on the Schedule of Increases or Decreases in the Global Note attached
hereto]1 on October 1, 2018. 

Interest Payment Dates: April 1 and October 1. 

Record Dates: March 15 and September 15. 

Additional provisions of this Note are set forth on the other side of this Note. 

IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed. 

 

			
	GRAHAM PACKAGING COMPANY, L.P.
		
	By: 	 	GPC OPCO GP LLP
		
	By:	 	 
		 	 Name:

Title:

	
	GPC CAPITAL CORP. I
		
	By:	 	 
		 	 Name:

Title:

 Dated:

  

	1
	Use the Schedule of Increases and Decreases language if Security is in Global Form. 

 

 B-2 

			
	TRUSTEE’S CERTIFICATION OF AUTHENTICATION
	
	 THE BANK OF NEW YORK MELLON,

as Trustee, certifies that this is one of the

Notes referred to in the Indenture

		
	By:	 	 
		 	 Authorized Signatory

Title:

  

 

	*/	If the Note is to be issued in global form, add the Global Notes Legend and the attachment from Exhibit A captioned “TO BE ATTACHED TO GLOBAL SECURITIES –
SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY”. 

  

 B-3 

 [FORM OF REVERSE SIDE OF EXCHANGE NOTE] 

8.25% Senior Note due 2018 
  

	1.	Interest 

 GRAHAM
PACKAGING COMPANY, L.P., a Delaware limited partnership (the “Company”), and GPC CAPITAL CORP. I (together with their successors and assigns under the Indenture hereinafter referred to, being herein called the “Issuers”) promise
to pay interest on the principal amount of this Note at the rate per annum shown above. The Issuers shall pay interest semiannually on April 1 and October 1 of each year, commencing April 1,
20115. Interest on the Notes shall accrue from the most
recent date to which interest has been paid or duly provided for or, if no interest has been paid or duly provided for, from September 23,
20106 until the principal hereof is due. Interest shall be
computed on the basis of a 360-day year of twelve 30-day months. The Issuers shall pay interest on overdue principal at the rate borne by the Notes, and they shall pay interest on overdue installments of interest at the same rate to the extent
lawful. 
  

	2.	Method of Payment 

 The
Issuers shall pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders at the close of business on March 15 or September 15 next preceding the interest payment date even if the Notes are canceled
after the record date and on or before the interest payment date (whether or not a Business Day). The Holders must surrender the Notes to a Paying Agent to collect principal payments. The Issuers shall pay principal, premium, if any, and interest in
money of the United States of America that at the time of payment is legal tender for payment of public and private debts. Payments in respect of the Notes represented by a Global Note (including principal, premium and interest) shall be made by
wire transfer of immediately available funds to the accounts specified by The Depository Trust Company, the Issuers or any successor depositary. The Issuers will make all payments in respect of a certificated Note (including principal, premium, if
any, and interest), at the office of a Paying Agent, except that, at the option of the Issuers, payment of interest may be made by mailing a check to the registered address of each Holder thereof; provided, however, that payments on the Notes
may also be made, in the case of a Holder of at least $1,000,000 aggregate principal amount of Notes, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer
by giving written notice to the Trustee or a Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion).

  

	5
	With respect to the Original Notes. 

  

	6
	With respect to the Original Notes. 

  

 B-4 

	3.	Paying Agent and Registrar 

Initially, The Bank of New York Mellon, a New York banking corporation (the “Trustee”), will act as Paying Agent and Registrar.
The Issuers may appoint and change any Paying Agent or Registrar without notice. The Issuers or any of their domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent or Registrar. 

 

	4.	Indenture 

 The Issuers
issued the Notes under an Indenture dated as of September 23, 2010 (the “Indenture”), among the Issuers, the Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture
by reference to the Trust Indenture Act of 1939 as in effect on the date of the Indenture (the “TIA”). Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all
terms and provisions of the Indenture, and the Holders (as defined in the Indenture) are referred to the Indenture and the TIA for a statement of such terms and provisions. 

The Notes are senior unsecured obligations of the Issuers. This Note is one of the Exchange Notes referred to in the Indenture. The Notes
include the Initial Notes, the Additional Notes and any Exchange Notes issued in exchange for the Initial Notes pursuant to the Indenture. The Initial Notes and Exchange Notes are treated as a single class of securities under the Indenture. The
Indenture imposes certain limitations on the ability of the Company’s Restricted Subsidiaries to, among other things, make certain Investments and other Restricted Payments, pay dividends and other distributions, incur Indebtedness, enter into
consensual restrictions upon the payment of certain dividends and distributions by such Restricted Subsidiaries, issue or sell shares of capital stock of such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create
or incur Liens and make Asset Sales. The Indenture also imposes limitations on the ability of the Issuers and each Guarantor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all of its property.

 To guarantee the due and punctual payment of the principal and interest, if any, on the Notes and all other amounts payable
by the Issuers under the Indenture and the Notes when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Guarantors have, jointly and severally,
unconditionally guaranteed the Guaranteed Obligations on a senior basis pursuant to the terms of the Indenture. 
  

	5.	Optional Redemption 

 This
Note is subject to optional redemption, and may be the subject of an Offer to Purchase, as further described in the Indenture. 
  

	6.	Sinking Fund 

 The Notes
are not subject to any sinking fund. 
  

 B-5 

	7.	Denominations; Transfer; Exchange 

The Notes are in registered form, without coupons, in denominations of $2,000 and whole multiples of $1,000 in excess thereof. A Holder
shall register the transfer of or exchange of the Notes in accordance with the Indenture. Upon any registration of transfer of or exchange, the Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements
or transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the
portion of the Note not to be redeemed) or to transfer or exchange any Notes for a period of 15 days prior to a selection of Notes to be redeemed. 
  

	8.	Persons Deemed Owners 

The registered Holder of this Note shall be treated as the owner of it for all purposes. 

 

	9.	Unclaimed Money 

 If money
for the payment of principal or interest remains unclaimed for two years, the Trustee and a Paying Agent shall pay the money back to the Issuers at its written request unless an abandoned property law designates another Person. After any such
payment, the Holders entitled to the money must look to the Issuers for payment as general creditors and the Trustee and a Paying Agent shall have no further liability with respect to such monies. 

 

	10.	Discharge and Defeasance 

Subject to certain conditions, the Issuers at any time may terminate some of or all their obligations under the Notes and the Indenture if
the Issuers deposit with the Trustee money or U.S. Government Obligations for the payment of principal and interest on the Notes to redemption, or maturity, as the case may be. 

 

	11.	Amendment, Waiver 

Subject to certain exceptions, the Indenture and the Notes may be amended, or default may be waived, with the consent of the Holders of a
majority in principal amount of the outstanding Notes. Without notice to or the consent of any Holder, the Issuers and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or
inconsistency. 
  

	12.	Defaults and Remedies 

 If
an Event of Default occurs (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuers) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the outstanding
Notes, in each case, by notice to the Issuers, may declare the principal of, premium, if any, and accrued but unpaid interest on all the Notes to be due and payable. If an Event of Default relating to certain events of bankruptcy, insolvency or
reorganization of the Issuers occurs, the principal of, premium, if any, and interest on all the Notes shall become immediately due and payable without any declaration or other act 

 

 B-6 

 
on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Notes may rescind any such acceleration with respect to
the Notes and its consequences. 
  

	13.	Trustee Dealings with the Issuers 

Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its individual or any other capacity, may become
the owner or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Issuers or their Affiliates and may otherwise deal with the Issuers or their Affiliates with the same rights it would have if it were not Trustee.

  

	14.	No Recourse Against Others 

No director, officer, employee, incorporator or holder of any equity interests in the Issuers or of any Guarantor or any direct or
indirect parent, as such, shall have any liability for any obligations of the Issuers or the Guarantors under the Notes or this Indenture or for any claim based on, in respect of, or by any reason of, such obligations or their creation. Each Holder
of Notes by accepting a Note waives and releases all such liability. 
  

	15.	Authentication 

 This Note
shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Note. 

 

	16.	Abbreviations 

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

	17.	Governing Law 

 THIS
NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  

	18.	CUSIP Numbers, ISINs and Common Codes 

The Issuers have caused CUSIP numbers and ISINs to be printed on the Notes and has directed the Trustee to use CUSIP numbers and ISINs in
notices of redemption as a convenience to the Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other
identification numbers placed thereon. 
 The Issuers will furnish to any Holder of Notes upon written request and without
charge to the Holder a copy of the Indenture which has in it the text of this Note. 
  

 B-7 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

I or we assign and transfer this Note to: 

                         
                                         
                                         
                                         
                                         
                                         
                            

(Print or type assignee’s name, address and zip code) 

                         
                                         
                                         
                                         
                                         
                                         
                            

(Insert assignee’s soc. sec. or tax I.D. No.) 

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

                         
                                         
                                         
                                         
                                         
                                         
                            
  

									
					
	Date: 	 	 	 		 	Your Signature:	 	 
		 		 		 		 	(Sign exactly as your name appears on the other side of this Note)
	Signature Guarantee:	 		 	
					
	Date:	 	 	 		 		 	 
		 	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the
Trustee	 		 		 	Signature of Signature Guarantee

                         
                                         
                                         
                                         
                                         
                                         
                            

 

 B-8 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuers pursuant to Section 4.06 (Asset Sale) or Section 4.08 (Change
of Control) of the Indenture, check the box: 
  

			
	Asset Sale     ̈	  	Change of Control     ̈

If you want to elect to have only part of this Note purchased by the Issuers pursuant to Section 4.06 (Asset Sale) or
Section 4.08 (Change of Control) of the Indenture, state the amount ($2,000 or an integral multiple of $1,000 in excess thereof): 
 $

  

									
					
	Date: 	 	 	 		 	Your Signature:	 	 
		 		 		 		 	(Sign exactly as your name appears on the other side of this Note)

			
		
	Signature Guarantee: 	  	 
		  	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the
Trustee

  

 B-9 

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 

The initial principal amount of this Global Note is $            . The
following increases or decreases in this Global Note have been made: 
  

									
	 Date of

Exchange
	 	 Amount of decrease
in Principal Amount
of this Global Note

	 	 Amount of increase
in Principal Amount
of this Global Note

	  	 Principal amount of
this Global Note
following such decrease
or
increase
	  	 Signature of authorized
signatory of Trustee or
Notes
Custodian

  

 B-10

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