Document:

Exhibit 4.1

 

 

CARLISLE COMPANIES INCORPORATED

 

and

 

U.S.
BANK NATIONAL ASSOCIATION

as Trustee

 

 

 

FIFTH SUPPLEMENTAL INDENTURE

 

Dated as of September 28, 2021

 

 

 

 

 

     

     

    

 

FIFTH SUPPLEMENTAL INDENTURE,
dated as of September 28, 2021 (this “Supplemental Indenture”), between CARLISLE COMPANIES INCORPORATED, a Delaware
corporation (the “Company”), and U.S. BANK NATIONAL ASSOCIATION (as successor to State Street Bank and Trust Company,
as successor to Fleet National Bank), a national banking association in its capacity as trustee (the “Trustee”).

 

RECITALS

 

WHEREAS, the Company and Fleet
National Bank (with the Trustee as its successor) previously entered into an indenture, dated as of January 15, 1997 (as supplemented
by the First Supplemental Indenture, dated as of August 18, 2006, the Second Supplemental Indenture, dated as of December 9,
2010, the Third Supplemental Indenture, dated as of November 20, 2012, and the Fourth Supplemental Indenture, dated as of February 28,
2020, the “Indenture”) providing for the issuance from time to time of one or more series of Securities of the Company;

 

WHEREAS, Section 901
of the Indenture provides that the Company and the Trustee may enter into a supplemental indenture without the consent of any Holders
to, among other things, add to, change or eliminate any of the provisions of the Indenture in respect of one or more series of Securities
not yet outstanding and, subject to certain conditions, change or eliminate any provision or to make any other provisions with respect
to matters or questions arising under the Indenture;

 

WHEREAS, the Company desires
to issue $300,000,000 aggregate principal amount of 0.550% Senior Notes due 2023 and $550,000,000 aggregate principal amount of 2.200%
Senior Notes due 2032 (collectively, the “Notes”) and, in connection therewith, to make certain amendments to the Indenture;
and

 

WHEREAS, all things necessary
to make this Supplemental Indenture a valid and legally binding agreement of the Company and the Trustee, in accordance with its terms,
and a valid and legally binding amendment of, and supplement to, the Indenture have been done.

 

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

 

Article One

AMENDMENTS

 

Section 101           The
changes, modifications and supplements to the Indenture effected by this Supplemental Indenture shall be applicable only with respect
to, and shall govern only the terms of (and only the rights of the Holders and the obligations of the Company with respect to), the Notes
and to any other Securities that may be issued under the Indenture from time to time after the date hereof. The provisions of this Supplemental
Indenture shall, with respect to the Notes and any other Securities that may be issued under the Indenture from time to time after the
date hereof, supersede any corresponding provisions in the Indenture. Subject to the preceding sentence, and except as otherwise provided
herein, the provisions of the Indenture shall apply to the Notes and any other Securities that may be issued under the Indenture from
time to time after the date hereof and govern the rights of the Holders of the Securities and the obligations of the Company and the Trustee
with respect thereto.

 

     

     

    

 

Section 102          The
Company hereby makes the following amendments to the Indenture, applicable only to the Notes and any other Securities that may be issued
under the Indenture from time to time after the date hereof:

 

(a)          The
definition of “Officers’ Certificate” in Section 101 is hereby deleted and replaced in its entirety by the following:
 “Officer’s Certificate” means a certificate signed by the Chairman of the Board of Directors, a Vice Chairman of the
Board of Directors, the Chief Executive Officer, the Chief Financial Officer, the President, a Vice President, the Treasurer, an Assistant
Treasurer, the Secretary, an Assistant Secretary, the Controller or any Assistant Controller, in each case, of the Company and delivered
to the Trustee. Each such Officer’s Certificate shall include the statements required by Section 102 hereof.” Any reference
in the Indenture to an “Officers’ Certificate” shall refer to an “Officer’s Certificate”.

 

(b)         The
following provision is added as Section 116 of the Indenture:

 

“Section 116.         Notices
Generally; Electronic Notices.

 

All notices, approvals,
consents, requests and any communications hereunder must be in writing (provided that any such communication sent to the Trustee hereunder
must be in the form of a document that is signed manually, by facsimile or by way of a digital signature provided by DocuSign (or such
other digital signature provider as specified in writing to the Trustee by the Company’s authorized representative), in English.
The Company agrees to assume all risks arising out of the use of using digital signatures and electronic methods to submit communications
to the Trustee and the risk of interception and misuse by third parties.”

 

(c)         Section 303
of the Indenture is hereby amended by replacing the first paragraph therein with the following:

 

“The
Securities shall be signed on behalf of the Company by its Chairman of the Board of Directors, its Vice Chairman of the Board of Directors,
its President or any of its Vice Presidents, which may, but need not, be attested by its Secretary or any of its Assistant Secretaries.
Such signatures may be the manual, facsimile or electronic signatures of such officers. Typographical and other minor errors or defects
in any such signature shall not affect the validity or enforceability of any Security that has been duly authenticated and delivered by
the Trustee.”

 

(d)         Section 501(5) of
the Indenture is hereby amended by replacing the reference to “$20,000,000” with “75,000,000”.

 

(e)         Section 704
of the Indenture is hereby amended by adding:

 

(i) the following provision immediately
following subsection (3):

 

“Notwithstanding
anything to the contrary herein, any requirement to file with the Trustee reports and the other information required by this Section 704
shall be deemed satisfied to the extent the Company has filed such reports and other information with the Commission.”; and

 

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(ii) the following paragraph at the
end of Section 704:

 

“Delivery
of reports, information and documents to the Trustee under this Section 704 is for informational purposes only and the Trustee’s
receipt of the foregoing shall not constitute constructive or actual notice of any information contained therein or determinable from
information contained therein, including the Company’s compliance with any of the covenants hereunder (as to which the Trustee is
entitled to rely exclusively on Officer’s Certificates). The Trustee will have no obligation whatsoever to monitor or confirm, on
a continuing basis or otherwise, the Company’s compliance with its covenants under this Indenture or with respect to any reports
or other documents filed with the Commission via the EDGAR system (or any successor thereto) or any other website, or to participate in
any conference calls.”

 

(f)            Section 1004
of the Indenture is hereby amended by deleting the two paragraphs therein in their entirety and replacing them with the following:

 

“The Company
agrees for the benefit of Holders of Senior Securities only, that unless otherwise provided herein, the Company will not itself, and will
not permit any Subsidiary to, create, incur, issue, assume or guarantee any Debt secured after the date of the Indenture by pledge of,
or mortgage or other lien (“Mortgage”) on, any Principal Property of the Company or any Significant Subsidiary, or any shares
of stock or Debt of any Significant Subsidiary without effectively providing that the Senior Securities of all series issued pursuant
to the Indenture (together with, if the Company shall so determine, any other Debt of the Company or such Significant Subsidiary then
existing or thereafter created which is not subordinate to the Senior Securities) shall be secured equally and ratably with (or, at the
option of the Company, prior to) such secured Debt, so long as such secured Debt shall be so secured.

 

This restriction
does not apply to, and there shall be excluded in computing secured Debt for the purpose of such restriction, Debt secured by: (i) Mortgages
existing on the date of the first issuance of Securities under this Indenture; (ii) Mortgages on property of, or on any shares of
stock or Debt of, any corporation existing at the time such corporation becomes a Significant Subsidiary; (iii) Mortgages in favor
of the Company or any Significant Subsidiary; (iv) Mortgages in favor of the United States or any State thereof, or any department,
agency or instrumentality or political subdivision of the United States or any State thereof, or in favor of any other country, or any
political subdivision thereof, to secure partial, progress, advance or other payments pursuant to any contract or statute; (v) Mortgages
on any real or personal property existing at the time of acquisition thereof or created within one year of such acquisition; (vi) Mortgages
to secure Debt incurred for the purpose of financing all or any part of the purchase price or the cost or construction or improvement
of the property subject to such Mortgage, provided, however, that (a) the principal amount of any Debt secured by such
Mortgage does not exceed 100% of such purchase price or cost and (b) such Mortgage does not extend to or cover any other property
other than such item or property and any improvements on such item; (vii) Mortgages securing industrial revenue, development or similar
bonds; (viii) Mortgages created in connection with a project financed, or assets acquired, with, and created to secure any Nonrecourse
Obligations; (ix) Mortgages securing indebtedness, the principal amount of which when aggregated with all Attributable Debt of the
Company and its Significant Subsidiaries in respect of sale and leaseback transactions (as defined in Section 1005) does not exceed
15% of Consolidated Net Tangible Assets; (x) any extension, renewal, refunding or replacement (or successive extensions, renewals,
refundings or replacements), as a whole or in part, of any Mortgage referred to in the foregoing clauses (i) to (ix), inclusive;
provided, however, that (a) such extension, renewal, refunding or replacement Mortgage shall be limited to all or a part of
the same property, shares of stock or Debt that secured the Mortgage extended, renewed, refunded or replaced (plus improvements on such
property) and (b) the Debt secured by such Mortgage at such time is not increased.”

 

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(g)         Section 1005
of the Indenture is hereby amended by replacing the reference to “10% of Consolidated Net Tangible Assets” with “15%
of Consolidated Net Tangible Assets”.

 

(h)         The
first sentence of Section 1104 of the Indenture is hereby amended by replacing “not less than 30 nor more than 60 days prior
to the Redemption Date” with “not less than 15 days nor more than 60 days prior to the Redemption Date”.

 

(i)          Section 1104
of the Indenture is hereby amended by adding the following after the last sentence of Section 1104: “At the Company’s
option, a notice of redemption may be conditioned on the satisfaction of one or more conditions specified therein.”

 

Article Two

MISCELLANEOUS PROVISIONS

 

Section 201     All
capitalized terms used herein which are not defined herein shall have the meanings assigned to them in the Indenture.

 

Section 202     This
Supplemental Indenture shall be effective as of the date first above written.

 

Section 203     This
Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York.

 

Section 204     This
Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall
together constitute but one and the same Supplemental Indenture.

 

Section 205    The
Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture. The recitals and statements herein
(other than those made expressly by the Trustee) are deemed to be those of the Company and not of the Trustee.

 

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Section 206     Any
request, demand, authorization, direction, notice, consent, waiver or other document provided or permitted by this Supplemental Indenture
to be made upon, given or furnished to, or filed with:

 

(a)        the
Trustee by the Company shall be sufficient for every purpose herein if made, given, furnished or filed in writing to or with the Trustee
at U.S. Bank Corporate Trust Services, 101 North First Avenue, Suite 1600, Phoenix, AZ 58003, or at any other address subsequently
furnished in writing to the Company by the Trustee; or

 

(b)        the
Company by the Trustee shall be sufficient for every purpose herein if in writing and mailed, first-class postage prepaid, to the Company
addressed to it at Carlisle Companies Incorporated, 16430 North Scottsdale Road, Suite 400, Scottsdale, AZ 85254, Attention: Treasurer,
or at any other address subsequently furnished in writing to the Trustee by the Company.

 

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

 

		 	CARLISLE COMPANIES INCORPORATED

 

		By:	/s/ Robert M.
                                            Roche

		Name:	Robert M. Roche

		Title:	Vice President and Chief Financial Officer

 

     

     

    

 

U.S. BANK NATIONAL ASSOCIATION, as Trustee

 

	By:	/s/ Mary Ambriz-Reyes	 

	Name:	Mary Ambriz-Reyes	 
	Title: 	Vice PresidentExhibit 4.2

 

This Security is a Global Security within the
meaning of the Indenture hereinafter referred to and is registered in the name of a Depositary or a nominee thereof. This Security may
not be transferred to, or registered or exchanged for Securities registered in the name of, any Person other than the Depository Trust
Company or a nominee thereof and no such transfer may be registered, except in the limited circumstances described in the Indenture. Every
Security authenticated and delivered upon registration or transfer of, or in exchange for or in lieu of, this Security shall be a Global
Security subject to the foregoing, except in such limited circumstances.

 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, 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.

 

CARLISLE COMPANIES INCORPORATED

 

$

 

0.550% Notes Due 2023

 

	No.	CUSIP 142339AK6

 

ISIN US142339AK65

 

Principal Sum: $

 

Certain capitalized terms
used but not defined herein shall have the meanings given to them in the Indenture under which this Security is issued.

 

Carlisle Companies Incorporated,
a Delaware corporation (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter
referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the Principal Sum specified above,
as may be reduced from time to time pursuant to Schedule A hereto, on September 1, 2023, unless earlier redeemed or repaid as herein
provided, and to pay interest, if any, thereon from September 28, 2020 or from the most recent Interest Payment Date to which interest
has been paid or duly provided for, semi-annually on March 1 and September 1 in each year, commencing March 1, 2022 until
the principal hereof is paid or made available for payment at the rate per annum of 0.550%. The interest so payable, and punctually paid
or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest, which shall be the
February 15 or August 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any
such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Record Date and may
either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders
of Securities not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in the Indenture.

 

    

     

    

 

Payment of the principal of
and interest on this Security will be made by transfer of immediately available funds to a bank account in the Borough of Manhattan, the
City of New York designated by the holder in such coin or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts.

 

REFERENCE IS HEREBY MADE TO
THE FURTHER PROVISIONS OF THIS SECURITY SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME
EFFECT AS IF SET FORTH HEREIN.

 

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

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF, the Company
has caused this instrument to be signed manually or by facsimile by its duly authorized officer.

 

Dated: September 28, 2021

 

	 	CARLISLE COMPANIES INCORPORATED

 

		By:	
	 	 	Name:	Robert M. Roche
	 	 	Title:	Vice President and Chief Financial Officer

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

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

 

U.S. BANK NATIONAL ASSOCIATION

as Trustee

 

	By:		 
	 	Authorized Signatory	 

 

[Signature Page to Global Note]

 

     

     

    

 

[REVERSE OF SECURITY]

 

This Security is one of a
duly authorized issue of Securities of the Company designated as its “0.550% Notes Due 2023” (herein called the “Securities”),
initially limited in aggregate principal amount to $300,000,000 issued and to be issued under an Indenture, dated as of January 15,
1997, as supplemented by the Fifth Supplemental Indenture, dated the date hereof, between the Company and U.S. Bank National Association
(as successor in interest to State Street Bank and Trust Company, as successor in interest to Fleet National Bank), as Trustee, as it
may be amended and supplemented from time to time (collectively, the “Indenture”), to which indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of
the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are and are to be, authenticated
and delivered.

 

The Securities shall be redeemable,
in whole or in part, at the Company’s option at any time (a “Redemption Date”). At any time prior to September 1,
2022 (the “Par Call Date”), the redemption price will be equal to the greater of (i) 100% of the principal amount of
any Securities being redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest
thereon that would be due if the Securities matured on the Par Call Date (exclusive of interest accrued to the Redemption Date) discounted
to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined
below) plus 7.5 basis points. At any time on or after the Par Call Date, the Securities will be redeemable in whole or in part, at the
Company’s option, at a redemption price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and
unpaid interest on the Securities to be redeemed to the Redemption Date. In each case, accrued and unpaid interest, if any, will be paid
to the Redemption Date. Notwithstanding the foregoing, installments of interest on Securities that are due and payable on Interest Payment
Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the Holders as of the close of business
on the relevant record date in accordance with the Securities and the Indenture. The Company will mail notice by first-class mail of any
redemption at least 15 days, but not more than 60 days, before the Redemption Date to each Holder of the Securities to be redeemed. At
the Company’s option, a notice of redemption may be conditioned on the satisfaction of one or more conditions. Once the notice is
delivered (or, in the event of a notice of conditional redemption, once the conditions set forth therein are satisfied) the Securities
called for redemption will become due and payable on the Redemption Date and at the applicable redemption price, plus accrued and unpaid
interest to the Redemption Date. On and after the Redemption Date, interest will cease to accrue on the Securities or any portion of the
Securities called for redemption (unless the Company defaults in the payment of the applicable redemption price and accrued interest).
On or before the Redemption Date, the Company will deposit with a paying agent (or the Trustee) money sufficient to pay the applicable
redemption price of and accrued interest on the Securities to be redeemed on the Redemption Date. If less than all of the Securities are
to be redeemed, and the Securities are Global Securities, the Securities to be redeemed will be selected by the Depositary Trust Company
(“DTC”), as the Depositary by lot. If the Securities to be redeemed are not Global Securities then held by the DTC, the Securities
to be redeemed will be selected by the Trustee by a method the Trustee deems to be fair and appropriate.

 

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“Comparable Treasury
Issue” means the United States Treasury security selected by the Independent Investment Banker as having a maturity comparable to
the remaining term of the Securities to be redeemed that would be used, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Securities (assuming,
for this purpose, that the Securities matured on the Par Call Date).

 

“Comparable Treasury
Price” means, with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption
Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (B) if the Trustee is provided with
fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations or (C) if only one Reference Treasury
Dealer Quotation is received, such quotation.

 

“Independent Investment
Banker” means one of the Reference Treasury Dealers or another independent investment banking institution of national standing appointed
by the Company.

 

“Reference Treasury
Dealer” means J.P. Morgan Securities LLC, BofA Securities, Inc., Wells Fargo Securities, LLC and one other treasury dealer
selected by the Company, and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary
U.S. Government securities dealer (each, a “Primary Treasury Dealer”), the Company will substitute therefor another nationally
recognized investment banking firm that is a Primary Treasury Dealer.

 

“Reference Treasury
Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing and the Trustee
by such Reference Treasury Dealer at 5:00 p.m. (New York City time) on the third business day preceding such Redemption Date.

 

“Treasury Rate”
means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such Redemption Date.

 

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Upon the occurrence of a Change
of Control Triggering Event (as defined below), the Company shall notify the Trustee, and make an offer (a “Change of Control Offer”)
to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of each Holder’s
Securities of such series at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest,
if any, to the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering
Event, the Company shall, or shall cause the Trustee to, mail a notice to each Holder describing the transaction or transactions that
constitute the Change of Control Triggering Event and stating: (1) that the Change of Control Offer is being made pursuant to the
terms of this Supplemental Indenture and that all Securities of such series properly tendered will be accepted for payment; (2) the
purchase price and the purchase date, which shall be no earlier than 15 days and no later than 60 days from the date such notice is mailed
(the “Change of Control Payment Date”); (3) that any Security of such series not tendered will continue to accrue interest;
(4) that, unless the Company defaults in the payment of the Change of Control Payment, all Securities of such series accepted for
payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Payment Date; (5) that
Holders electing to have any Securities of such series, with the form entitled “Option of Holder to Elect Purchase” attached
as Exhibit 1 to the Security completed, purchased pursuant to a Change of Control Offer will be required to surrender such Securities
to the Trustee or paying agent at the address specified in the notice prior to the close of business on the third Business Day preceding
the Change of Control Payment Date; (6) that Holders will be entitled to withdraw their election if the Trustee or paying agent receives,
not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile
transmission or letter setting forth the name of the Holder, the principal amount of Securities of such series delivered for purchase,
and a statement that such Holder is withdrawing his election to have such Securities purchased; and (7) that Holders whose Securities
of such series are being purchased only in part will be issued new Securities equal in principal amount to the unpurchased portion of
the Securities surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 thereof.
The Company shall comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection
with the repurchase of Securities of such series in connection with a Change of Control Triggering Event. To the extent that the provisions
of any securities laws or regulations conflict with the provisions of this paragraph or the Indenture, the Company will comply with the
applicable securities laws and regulations and will not be deemed to have breached its obligations under this paragraph or the Indenture
by virtue of such conflict. On the Change of Control Payment Date, the Company shall, to the extent lawful: (1) accept for payment
all Securities of such series or portions thereof properly tendered pursuant to the Change of Control Offer, (2) deposit with the
Trustee or paying agent an amount equal to the Change of Control Payment in respect of all Securities of such series or portions thereof
properly tendered and (3) deliver or cause to be delivered to the Trustee the Securities of such series properly accepted together
with an Officer’s Certificate stating the aggregate principal amount of such Securities or portions thereof being purchased by the
Company. The paying agent shall promptly mail to each Holder of Securities of such series properly tendered the Change of Control Payment
for such Securities, and the Trustee shall promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a
new Security equal in principal amount to any unpurchased portion of the Securities surrendered by such Holder, if any; provided, that
each such new Security shall be in a principal amount of $2,000 or an integral multiple of $1,000 thereof. The Company shall publicly
announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. The Company
will not be required to make a Change of Control Offer upon a Change of Control Triggering Event if a third Person makes the Change of
Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this paragraph and all other
provisions of the Indenture applicable to a Change of Control Offer made by the Company and purchases all Securities of this series properly
tendered and not withdrawn under such Change of Control Offer.

 

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“Change of Control”
means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other disposition (other than
by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets
of the Company and the Company’s subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d)(3) of
the Exchange Act) other than the Company or one of the Company’s subsidiaries; (2) the adoption of a plan relating to a liquidation
or dissolution of the Company; or (3) the consummation of any transaction (including, without limitation, any merger or consolidation)
the result of which is that any Person (as defined below) becomes the beneficial owner, directly or indirectly, of more than 50% of the
then outstanding number of shares of the Company’s Voting Stock.

 

“Change of Control Triggering
Event” means the occurrence of both a Change of Control and a Rating Event.

 

“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.

 

“Moody’s”
means Moody’s Investors Service, Inc.

 

“Person”
means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization,
limited liability company, government or any agency or political subdivision thereof or any other entity.

 

“Rating Agency”
means each of S&P and Moody’s, or if S&P or Moody’s 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 Company (as certified by a resolution
of the Board of Directors) which shall be substituted for S&P or Moody’s, or both, as the case may be.

 

“Rating Event”
means (1) to the extent the Notes were rated with an Investment Grade Rating by either of the Rating Agencies at the commencement
of the Relevant Period (as defined below) and the ratings of the Notes are downgraded by either or both of the Rating Agencies on any
date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period
following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the
Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies) (the “Relevant Period”)
such that the rating of the Notes by each of the Rating Agencies at the end of the Relevant Period is below an Investment Grade Rating,
which downgrading is a result of the transactions constituting or occurring simultaneously with the applicable Change of Control (as evidenced
by a public statement by the Rating Agency or Rating Agencies that downgraded the Notes) or (2) to the extent the Notes were not
rated with an Investment Grade Rating by either of the Rating Agencies at the commencement of the Relevant Period, the Notes continue
to be rated at a level below an Investment Grade Rating by each of the Rating Agencies at the end of the Relevant Period.

 

“S&P” means
Standard & Poor’s Ratings Services, a division of S&P Global, Inc.

 

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

 

If an Event of Default shall
occur with respect to the Securities and be continuing, the principal of all the Securities may be declared due and payable in the manner
and with the effect provided in the Indenture.

 

    7

     

    

 

The Indenture contains provisions
for defeasance of (a) the entire indebtedness of this Security and (b) certain restrictive covenants and Events of Default with
respect to this Security, in each case upon compliance by the Company with certain conditions set forth in the Indenture.

 

The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the
rights of the Holders of the Securities under the Indenture at any time by the Company and the Trustee with the consent of the Holders
of a majority in aggregate principal amount of the Securities at the time Outstanding. The Indenture also contains provisions permitting
the Holders of specified percentages in aggregate principal amount of the Securities at the time Outstanding, on behalf of the Holders
of all the Securities, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the holder of this Security shall be conclusive and binding upon such
Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu thereof, whether or not notation of such consent or waiver is made upon this Security.

 

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

 

This Global Security or portion
hereof may not be exchanged for Definitive Securities except in the limited circumstances provided in the Indenture.

 

The Securities are issuable
only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. As provided
in the Indenture and subject to certain limitations therein set forth, Securities are exchangeable for a like aggregate principal amount
of Securities of a different authorized denomination, as requested by a Holder surrendering the same.

 

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

 

In the event that (i) the
Depositary or another depositary in respect of the Securities of this series, as the case may be, notifies the Company that it is unwilling
or unable to continue as a depository and a successor depository is not appointed by the Company within 60 days of such notice, (ii) the
Depositary with respect to such Global Securities so requests following an Event of Default under the Indenture or (iii) the owner
of a beneficial interest in the Global Securities requests such exchange in writing delivered through the Depositary or the Company following
an Event of Default under the Indenture, then the Holder hereof shall surrender this Global Security to the Trustee for cancellation and
whereupon, in accordance with Section 305 of the Indenture, the Company will execute and the Trustee will authenticate and deliver
Securities of this series in definitive registered form without coupons, in denominations of $2,000 and any integral multiple of $1,000
in excess thereof, and in an aggregate principal amount equal to the principal amount of this Global Security at the time outstanding
in exchange for this Global Security.

 

    8

     

    

 

Prior to due presentment of
this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person
in whose name this Security is registered as the owner hereof for all purposes, whether or not any amount due in respect of this Security
be overdue, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary.

 

The Securities shall be governed
by and construed in accordance with the laws of the State of New York.

 

    9

     

    

 

SCHEDULE A

 

SCHEDULE OF PRINCIPAL SUM

 

REDUCTIONS Principal Sum outstanding as of September 28,
2021: $

 

Thereafter, the following decreases have been
made:

 

	
    Date of Redemption
    or

 Repurchase
	
    Principal
    Amount

Redeemed or

Repurchased
	
    Principal
    Amount

Remaining
	
    Notation Made
    by or on

Behalf of the Trustee

	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    10

     

    

 

EXHIBIT 1

 

OPTION OF HOLDER TO ELECT PURCHASE

 

The undersigned hereby elects
optional redemption of Carlisle Companies Incorporated, 0.550% Notes due 2023, No. , CUSIP No. 142339AK6 (the portion thereof
specified below) with the effect provided in said Security by delivering this form of “Option of Holder to Elect Purchase”
duly completed by the Holder of said Security to the Trustee at U.S. Bank National Association, Global Corporate Trust Services, 101 North
First Avenue, Suite 1600, Phoenix, AZ 85003 | LM-AZ-X16P or such other address of which Carlisle Companies Incorporated shall from
time to time notify the Holders of the Securities.

 

Specify the portion of said
Security (which shall be U.S. $2,000 or an integral multiple of U.S. $1,000 in excess thereof, which may be all or part of the Holder’s
interest in said Security) as to which the Holder elects optional redemption:

 

U.S.
$                             .

 

	Dated:	 	 

 

	Signature:	 	 

 

NOTE: The signature to this notice must correspond
with the name as written upon the face of the within Global Security in every particular without alteration or enlargement or any change
whatsoever and must be guaranteed by a commercial bank or trust company having its principal office or correspondent in The City of New
York or by a member of the New York Stock Exchange.

 

    11

     

    

 

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

 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING
NUMBER OF ASSIGNEE

 

(Print or Type Name and Address including Zip
Code of Assignee)

 

the within Global Security, and all rights thereunder,
hereby irrevocably constituting and appointing attorney to transfer said Global Security on the books of the Company, with full power
of substitution in the premises.

 

	Dated:	 	 

 

NOTE: The signature to this assignment must correspond
with the name as written upon the face of the within Global Security in every particular without alteration or enlargement or any change
whatsoever and must be guaranteed by a commercial bank or trust company having its principal office or correspondent in The City of New
York or by a member of the New York Stock Exchange.

 

    12

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