Document:

EX-4.1

Table of Contents

 Exhibit 4.1 

THE TORONTO-DOMINION BANK 
 to

 THE BANK OF NEW YORK MELLON 

(formerly known as The Bank of New York), as Trustee 
  

 
 First
Supplemental Indenture 
 Dated as of September 24, 2018 

to 
 Indenture 

Dated as of June 30, 2006 

Table of Contents

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
		  	ARTICLE ONE
PROVISIONS OF GENERAL APPLICATION	  			
			
	 Section 1.01
	  	Relation to Base Indenture	  	 	1	 
			
	 Section 1.02
	  	Governing Law; Submission to Jurisdiction	  	 	2	 
			
		  	ARTICLE TWO
AMENDMENTS	  			
			
	 Section 2.01
	  	Applicability	  	 	2	 
			
	 Section 2.02
	  	Definition of Terms	  	 	2	 
			
	 Section 2.03
	  	Governing Law; Submission to Jurisdiction	  	 	3	 
			
	 Section 2.04
	  	Redemption and Repurchases; Defeasance and Covenant Defeasance	  	 	3	 
			
	 Section 2.05
	  	Remedies of the Trustee and Securityholders on Event of Default	  	 	4	 
			
	 Section 2.06
	  	Amendment, Modification or Other Variance	  	 	7	 
			
	 Section 2.07
	  	Bail-in and Bail-in Acknowledgment	  	 	7	 
			
	 Section 2.08
	  	Subsequent Holders’ Agreement	  	 	9	 
			
	 Section 2.09
	  	Terms of the Series; Re-opening Securities	  	 	10	 
			
		  	ARTICLE THREE
MISCELLANEOUS	  			
			
	 Section 3.01
	  	Successors and Assigns of Issuer Bound by Indenture	  	 	10	 
			
	 Section 3.02
	  	Counterparts	  	 	10	 
			
	 Section 3.03
	  	Effect of Headings	  	 	10	 
			
	 Section 3.04
	  	Concerning the Trustee	  	 	10	 

  
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 FIRST SUPPLEMENTAL INDENTURE, dated as of September 24, 2018 (this “First
Supplemental Indenture”), between THE TORONTO-DOMINION BANK, a financial institution governed by the Bank Act (Canada) (the “Issuer”), and THE BANK OF NEW YORK MELLON, formerly known as THE BANK OF NEW YORK, a New York
banking corporation, as trustee (the “Trustee”). All capitalized terms used in this First Supplemental Indenture and not otherwise defined herein have the meanings given such terms in the Base Indenture (as defined below). 

RECITALS OF THE ISSUER 

WHEREAS, the Issuer and the Trustee have entered into the Indenture, dated as of June 30, 2006 (the “Base Indenture”
and, as hereby supplemented and amended, the “Indenture”) providing for the issuance from time to time of one or more series of the Issuer’s Securities; 

WHEREAS, Section 8.01(g) of the Base Indenture provides that, without the consent of the Holders of any Securities at the time
Outstanding, the Issuer and the Trustee may enter into a supplemental indenture to the Base Indenture to add to, change or eliminate any of the provisions of the Base Indenture in respect of one or more Series of Securities, provided that any such
additions, changes or eliminations (A) shall neither (i) apply to any Security of any Series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the
Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security Outstanding; 

WHEREAS, in accordance with Section 8.01 of the Base Indenture, the Issuer wishes to amend and supplement the Base Indenture as provided
herein; and 
 WHEREAS, the Issuer has requested and hereby requests that the Trustee execute and deliver this First Supplemental Indenture;
and all requirements necessary to make this First Supplemental Indenture a valid, binding and enforceable instrument in accordance with its terms, and to make the Securities, when executed by the Issuer and authenticated and delivered by the
Trustee, the valid, binding and enforceable obligations of the Issuer, have been satisfied and complied with; and the execution and delivery of this First Supplemental Indenture has been duly authorized in all respects. 

NOW, THEREFORE, in consideration of the foregoing recitals and other valuable consideration, the receipt whereof is hereby acknowledged, the
Issuer agrees with the Trustee, for the equal and proportionate benefit of the Holders of the Securities, as follows: 
 ARTICLE ONE

 PROVISIONS OF GENERAL APPLICATION 

Section 1.01    Relation to Base Indenture. 

This First Supplemental Indenture is a supplement to the Base Indenture. As supplemented by this First Supplemental Indenture, the Base
Indenture is in all respects ratified, approved and confirmed, and the Base Indenture and this First Supplemental Indenture shall together constitute one and the same instrument. 

  
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 Section 1.02    Governing Law;
Submission to Jurisdiction. 
 This First Supplemental Indenture shall be governed by and construed in accordance with the laws of the
State of New York, except that Section 13.01(a) of the Base Indenture, as set forth in Section 2.07 of this First Supplemental Indenture, shall be governed by and construed in accordance with the laws of the Province of Ontario and the
federal laws of Canada applicable therein. By its acquisition of an interest in any Bail-inable Security, each Holder or Beneficial Owner of that Bail-inable Security shall be deemed to attorn and submit to the jurisdiction of the courts in the
Province of Ontario with respect to actions, suits and proceedings arising out of or relating to the operation of the CDIC Act and the laws of the Province of Ontario and the federal laws of Canada applicable therein in respect of the Indenture and
the Bail-inable Security. 
 ARTICLE TWO 

AMENDMENTS 
 
Section 2.01    Applicability. 
 Except as otherwise may be provided pursuant to Section 2.03 of
the Base Indenture with respect to any particular Security issued on or after September 23, 2018, Sections 2.02 through 2.09, inclusive, of this First Supplemental Indenture shall apply to Securities issued on or after September 23, 2018
and shall not apply to, or modify the rights of Holders or Beneficial Owners of, any Securities of any series created before September 23, 2018. 

Section 2.02    Definition of Terms. 

The following definitions shall be added to the applicable definitions set forth in Article I of the Base Indenture: 

“Bail-inable Security” means a Security subject to Bail-in Conversion under the Bail-in Regime. 
 “Bail-in Conversion” means the
conversion of Bail-inable Securities in whole or in part – by means of a transaction or series of transactions and in one or more steps – into common shares in the capital of the Issuer or any of its affiliates under the Bail-in Regime. 
 “Bail-in Regime” means the
provisions of, and regulations under, the Bank Act, the CDIC Act and certain other Canadian federal statutes pertaining to banks, providing for a bank recapitalization regime for banks designated by the Superintendent as domestic systemically
important banks, including subsection 39.2(2.3) of the CDIC Act, the Bank Recapitalization (Bail-in) Conversion Regulations (Canada), the Bank Recapitalization (Bail-in)
Issuance Regulations (Canada) and the Compensation Regulations (Canada), and in each case any successor statute or regulation thereto, as amended from time to time. 

“Bank Act” means the Bank Act (Canada), and any successor statute thereto, in each case as amended from time to time. 

“Beneficial Owner” means (i) with respect to Global Securities of a Series, the beneficial owners of the relevant
Securities of such Series and (ii) with respect to the relevant definitive Securities of a Series, the Holders in whose names the relevant Securities of such Series are registered in the Security Register. 

  
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 “CDIC Act” means Canada Deposit Insurance Corporation Act (Canada), and any
successor statute thereto, in each case as amended from time to time. 
 “OSFI” means the Office of the Superintendent of
Financial Institutions (Canada). 
 “Superintendent” means the Superintendent of Financial Institutions (Canada). 

“TLAC” means Total Loss Absorbing Capacity within the meaning of the TLAC Guideline. 

“TLAC Guideline” means OSFI’s Guideline on Total Loss Absorbing Capacity for Canadian Domestic Systemically Important
Banks, and any successor guideline thereto, in each case as amended from time to time. 

Section 2.03    Governing Law; Submission to Jurisdiction. 

Article XII of the Base Indenture is hereby amended by amending and restating Section 12.09 in its entirety, which shall read as follows:

 Section 12.09 Governing Law; Submission to Jurisdiction. 

This Indenture and the Securities shall be governed by and construed in accordance with the laws of the State of New York,
except that Section 13.01(a) shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. By its acquisition of an interest in any Bail-inable Security, each Holder
or Beneficial Owner of that Bail-inable Security shall be deemed to attorn and submit to the jurisdiction of the courts in the Province of Ontario with respect to actions, suits and proceedings arising out of or relating to the operation of the CDIC
Act and the laws of the Province of Ontario and the federal laws of Canada applicable therein in respect of the Indenture and the Bail-inable Security. 

Section 2.04    Redemption and Repurchases; Defeasance and Covenant
Defeasance. 
 (a)    Article XI of the Base Indenture is hereby amended by inserting a new Section 11.06,
which shall read as follows: 
 Section 11.06. Redemption of Bail-inable Securities; Repurchases. 

(a)    If the Issuer has delivered a notice of redemption pursuant to Section 11.02 with respect to
Bail-inable Securities, but prior to the payment of the redemption price or redemption prices with respect to such redemption, such Bail-inable Securities are converted pursuant to a Bail-in Conversion, such
redemption notice shall be automatically rescinded and shall be of no force and effect, and no payment in respect of the redemption price or redemption prices shall be due and payable. 

  
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 (b)    Notwithstanding any other provision of this
Indenture or the Bail-inable Securities, the Issuer may only redeem Bail-inable Securities of any Series prior to their Stated Maturity or repurchase Bail-inable Securities of any Series (and give notice thereof to the Holders of such Series of
Bail-inable Securities in the case of redemption) if the Issuer has obtained the prior approval of the Superintendent, where the redemption or repurchase would result in the Issuer not meeting the TLAC requirements applicable to the Issuer pursuant
to the TLAC Guideline. 
 (b)    Section 10.01 of the Base Indenture is hereby amended by inserting a new paragraph
(ix), which shall read as follows: 
 (ix)    Notwithstanding any other provisions of this Indenture or the Bail-inable
Securities, a full defeasance or Covenant Defeasance with respect to Bail-inable Securities of any series shall be subject to the prior approval of the Superintendent, where the full defeasance or Covenant Defeasance would result in the Issuer not
meeting the TLAC requirements applicable to the Issuer pursuant to the TLAC Guideline. 
 (c)    For the avoidance of
doubt, except as otherwise set forth in this Supplemental Indenture, the provisions of Article X and Article XI of the Base Indenture shall be applicable to any redemption or any defeasance or Covenant Defeasance, respectively, of Bail-inable
Securities. 
 Section 2.05    Remedies of the Trustee and Securityholders on
Event of Default. 
 (a)    Article V of the Base Indenture is hereby amended by amending and restating
Section 5.01 in its entirety, which shall read as follows: 
 Section 5.01 Event of Default Defined; Acceleration of Maturity;
Waiver of Default. 
 “Event of Default” with respect to Securities of any Series wherever used herein,
means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be 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): 
 (a)    default in
the payment of the principal of, or interest on, any Security of that Series and, in each case, such default continues for a period of 30 Business Days; or 

  
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 (b)    if the Issuer shall become insolvent or bankrupt or subject to
the provisions of the Winding-up and Restructuring Act (Canada), or any statute hereafter enacted in substitution therefor, as such act, or substituted act, may be amended from time to time, or go into
liquidation, either voluntary or under an order of a court of competent jurisdiction, passes a resolution for the winding-up, liquidation or dissolution of the Issuer, is ordered
wound-up or otherwise acknowledges its insolvency (provided that a resolution or order for winding-up the Issuer with a view to its consolidation, amalgamation or
merger with another bank or the transfer of its assets as an entirety to such other bank, as provided in Article IX, shall not constitute an Event of Default if such last-mentioned bank shall, as a part of such consolidation, amalgamation, merger or
transfer, and, within 90 days from the passing of the resolution or the date of the order for the winding-up or liquidation of the Issuer or within such further period of time as may be allowed by the Trustee,
comply with the conditions to that end stated in Article IX); or 
 (c)    any other Event of Default provided in the
applicable Board Resolution or in the supplemental indenture under which such Series of Securities is issued or in the form of Security for such Series, as the case may be; 

For avoidance of doubt, a Bail-in Conversion shall not constitute a default or an
Event of Default under this Section 5.01. 
 If an Event of Default described in clauses 5.01(a) or 5.01(c) (if the
Event of Default under clause 5.01(c) is with respect to less than all Series of Securities then Outstanding) occurs and is continuing, then and in each and every such case, except for any Series of Securities the principal of which shall have
already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities of each such affected Series then Outstanding hereunder (voting as a single class) by notice in writing to the
Issuer (and to the Trustee if given by Securityholders), may declare the entire principal (or such other amount as may be specified in the terms of such Securities) of all Securities of all such affected Series, and the interest accrued thereon, if
any, to be due and payable immediately, and upon any such declaration, the same shall become immediately due and payable. If an Event of Default described in clause 5.01(b) occurs and is continuing, then and in each and every such case, unless the
principal of all the Securities shall have already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of all the Securities then Outstanding hereunder (treated as one class), by notice in
writing to the Issuer (and to the Trustee if given by Securityholders), may declare the entire principal (or such other amount as may be specified in the terms thereof) of all the Securities then Outstanding, and interest accrued thereon, if any, to
be due and payable immediately, and upon any such declaration the same shall become immediately due and payable. 

  
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 The foregoing provisions, however, are subject to the condition that if, at
any time after the principal (or such other amount as may be specified in the terms thereof) of the Securities of any Series (or of all the Securities, as the case may be) shall have been so declared due and payable, and before any judgment or
decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Issuer shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of such
Series (or of all the Securities, as the case may be) and the principal of any and all Securities of each such Series (or of all the Securities, as the case may be) which shall have become due otherwise than by acceleration (with interest upon such
principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities)
specified in the Securities of each such Series (or at the respective rates of interest or Yields to Maturity of all the Securities, as the case may be) to the date of such payment or deposit) and such amount as shall be sufficient to cover
reasonable compensation to the Trustee and each predecessor Trustee, its agents, attorneys and counsel, and all other reasonable expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as
determined to have been caused by its own negligence or willful misconduct, and if any and all Events of Default under the Indenture, other than the non-payment of the principal of Securities which shall have
become due by acceleration, shall have been cured, waived or otherwise remedied as provided herein, then and in every such case the Holders of a majority in aggregate principal amount of all the Securities of each such Series, or of all the
Securities, in each case voting as a single class, then Outstanding, by written notice to the Issuer and to the Trustee, may waive all defaults with respect to each such Series (or with respect to all the Securities, as the case may be) and rescind
and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. 

For all purposes under this Indenture, if a portion of the principal of any Securities shall have been accelerated and
declared due and payable pursuant to the provisions hereof, then, from and after such declaration, unless such declaration has been rescinded and annulled, the principal amount of such Securities shall be deemed, for all purposes hereunder, to be
such portion of the principal thereof as shall be due and payable as a result of such acceleration, and payment of such portion of the principal thereof as shall be due and payable as a result of such acceleration, together with interest, if any,
thereon and all other amounts owing thereunder, shall constitute payment in full of such Securities. 
 Notwithstanding the
foregoing, Holders and Beneficial Owners of Bail-inable Securities of any Series shall not be entitled to exercise, or direct the exercise of, the rights in this Section 5.01 where the Governor in Council (Canada) has made an order
pursuant to subsection 39.13(1) of the CDIC Act in respect of the Issuer. 
 Notwithstanding the exercise of any of the
rights provided for in this Section 5.01, Bail-inable Securities with respect to which such rights have been exercised shall continue to be subject to Bail-in Conversion until repaid in full. 

For purposes of this Article V only, and except as may otherwise be provided pursuant to Section 2.03 as to all or any
particular Securities, with respect to Securities issued hereunder, the term “Series” shall be deemed to refer to Securities with identical terms, except as to issue date, principal amount and, if applicable, the date from which interest
begins to accrue. 

  
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 (b)    Article V of the Base Indenture is hereby amended by inserting a
new Section 5.13, which shall read as follows: 
 Section 5.13. Bail-inable Securities; No Set-Off and Netting Rights. 
 Notwithstanding any other provision of this Indenture or
the Securities, Holders and Beneficial Owners of Bail-inable Securities shall not be entitled to exercise, or direct the exercise of, any set-off or netting rights with respect to such Bail-inable Securities.

 Section 2.06    Amendment, Modification or Other Variance. 

Article VIII of the Base Indenture is hereby amended by inserting a new Section 8.06, which shall read as follows: 

Section 8.06. Bail-inable Securities; Amendment, Modification or Other Variance. 

Where an amendment, modification or other variance that can be made pursuant to this Article VIII or any other provision of
this Indenture would affect the recognition of Bail-inable Securities issued hereunder by the Superintendent as TLAC, that amendment, modification or variance shall require the prior approval of the Superintendent. 

Section 2.07    Bail-in and Bail-in Acknowledgment. 
 The Base Indenture is hereby amended by inserting a new Article XIII, which
shall read as follows: 
 ARTICLE XIII 

CANADIAN BAIL-IN AND BAIL-IN ACKNOWLEDGMENT 

Section 13.01. Bail-in Acknowledgement. 

(a)    By its acquisition of an interest in any Bail-inable Security, each Holder or Beneficial Owner of
that Bail-inable Security shall be deemed to (i) agree to be bound, in respect of that Bail-inable Security, by the CDIC Act, including the conversion of the Bail-inable Securities, in whole or in part – by means of a transaction or series
of transactions and in one or more steps – into common shares of the Issuer or any of its affiliates under subsection 39.2(2.3) of the CDIC Act and the variation or extinguishment of the Bail-inable Securities in consequence, and by the
application of the laws of the Province of Ontario and the federal laws of Canada applicable therein in respect of the operation of the CDIC Act with respect to the Bail-inable Securities; (ii) attorn and submit to the jurisdiction of the
courts in the Province of Ontario with respect to the CDIC Act and those laws; and (iii) acknowledge and agree that the terms referred to in clauses (i) and (ii) above, are binding on that Holder or Beneficial Owner despite any provisions
in this Indenture or the Bail-inable Securities, any other law that governs the Bail-inable Securities and any other agreement, arrangement or understanding between that Holder or Beneficial Owner and the Issuer with respect to the Bail-inable
Securities. 

  
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 (b)    Holders and Beneficial Owners of Bail-inable
Securities shall have no further rights in respect of their Bail-inable Securities to the extent those Bail-inable Securities are converted in a Bail-in Conversion, other than those provided under the Bail-in Regime, and by its acquisition of an interest in any Bail-inable Security, each Holder or Beneficial Owner of that Bail-inable Security shall be deemed to irrevocably consent to the converted portion of the
principal amount of that Bail-inable Security and any accrued and unpaid interest thereon being deemed paid in full by the issuance of common shares of the Issuer (or, if applicable, any of its affiliates) upon the occurrence of a Bail-in Conversion, which Bail-in Conversion shall occur without any further action on the part of that Holder or Beneficial Owner or the Trustee; provided that, for
the avoidance of doubt, this consent shall not limit or otherwise affect any rights of that Holder or Beneficial Owner provided for under the Bail-in Regime. 

(c)    By its acquisition of an interest in a Bail-inable Security, each Holder or Beneficial Owner of
that Bail-inable Security shall be deemed to acknowledge and agree: 
 (1)    that the Bail-in Conversion shall not give rise to a default or Event of Default for purposes of Section 315(b) (Notice of Defaults) and Section 315(c) (Duties of the Trustee in Case of Default) of
the Trust Indenture Act; 
 (2)    to the extent permitted by the Trust Indenture Act, that such Holder
or Beneficial Owner waives any and all claims, in law and/or in equity, against the Trustee, for, agrees not to initiate a suit against the Trustee in respect of, and agrees that the Trustee shall not be liable for, any action that the Trustee
takes, or abstains from taking, in either case in accordance with the Bail-in Regime; and 

(3)    upon a Bail-in Conversion or other action pursuant to the Bail-in Regime with respect to Bail-inable Securities, (i) the Trustee shall not be required to take any further directions from Holders of such Bail-inable Securities under Section 5.09; and (ii) the
Indenture shall not impose any duties upon the Trustee whatsoever with respect to a Bail-in Conversion or such other action pursuant to the Bail-in Regime. 

(d)    By its acquisition of an interest in a Bail-inable Security, each Holder or Beneficial Owner of
that Bail-inable Security shall be deemed to have authorized, directed and requested the Depositary and any direct participant in the Depositary or other intermediary through which it holds such Bail-inable Security to take any and all necessary
action, if required, to implement the Bail-in Conversion or other action pursuant to the Bail-in Regime with respect to the Bail-inable Security as may be imposed on it,
without any further action or direction on the part of that Holder or Beneficial Owner, the Trustee or the Paying Agent. Notwithstanding the foregoing, if, following the completion of a Bail-in Conversion,
some or all of the relevant Bail-inable Securities remain Outstanding, then the Trustee’s duties under this Indenture shall remain applicable with respect to those Bail-inable Securities following such completion; provided, however, that
notwithstanding the Bail-in Conversion, there shall at all times be a Trustee for the Bail-inable Securities in accordance with this Indenture, and the resignation and/or removal of the Trustee, the
appointment of a successor trustee and the rights of the Trustee or any successor trustee shall continue to be governed by this Indenture, including to the extent no supplemental indenture or amendment to this Indenture is agreed upon in the event
the relevant Bail-inable Securities remain Outstanding following the completion of the Bail-in Conversion. 

  
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 (e)    Upon a
Bail-in Conversion, the Issuer shall provide a written notice to the Depositary and the Holders of Bail-inable Securities through the Depositary as soon as practicable regarding such Bail-in Conversion. The Issuer shall also deliver a copy of such notice to the Trustee for information purposes. 

(f)    The Issuer’s obligations to indemnify the Trustee in accordance with Section 6.06 shall
survive, with respect to any Bail-inable Security and any Bail-in Conversion with respect to such Bail-inable Security, but shall be subject to Section 13.02 below. 

Section 13.02. Parties’ Acknowledgement with Respect to Treatment of Bail-inable Securities. 

Notwithstanding and to the exclusion of any other term of this Indenture, any indenture supplemental hereto or any other
agreements, arrangements, or understanding between the parties, the Trustee acknowledges and accepts that each Bail-inable Security under this Indenture or any indenture supplemental hereto shall be subject to the
Bail-in Regime. 

Section 2.08    Subsequent Holders’ Agreement. 

The Base Indenture is hereby amended by inserting a new Article XIV, which shall read as follows: 

ARTICLE XIV 
 SUBSEQUENT
HOLDERS’ AGREEMENT 
 Each Holder or Beneficial Owner of a Bail-inable Security that acquires an interest in the
Bail-inable Security in the secondary market and any successors, assigns, heirs, executors, administrators, trustees in bankruptcy and legal representatives of any Holder or Beneficial Owner shall be deemed to acknowledge, accept, agree to be bound
by and consent to the same provisions specified herein to the same extent as the Holders or Beneficial Owners that acquire an interest in the Bail-inable Securities upon their initial issuance, including, without limitation, with respect to the
acknowledgement and agreement to be bound by and consent to the terms of the Bail-inable Securities related to the Bail-in Regime. 

  
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 Section 2.09    Terms of the
Series; Re-opening Securities. 
 Section 2.03 of the Base Indenture is hereby amended by
amending and restating the last paragraph thereof in its entirety, which shall read as follows: 
 All Securities of any one
Series and Coupons, if any, appertaining thereto, shall be substantially identical, except in the case of Registered Securities as to denomination and except as may otherwise be provided by or pursuant to the Board Resolution or Officer’s
Certificate referred to above or as set forth in any such indenture supplemental hereto. All Securities of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so
provided by or pursuant to such Board Resolution, such Officer’s Certificate or in any such indenture supplemental hereto. All Securities of one Series need not be issued at one time, and unless otherwise provided, a series may be reopened for
issuances of additional Securities of such series; provided, however, that no previous issue of a Series of Securities that are not subject to a Bail-in Conversion shall be re-opened where such re-opening would have the effect of making such Securities of such Series subject to a Bail-in Conversion. 

ARTICLE THREE 

MISCELLANEOUS 
 
Section 3.01    Successors and Assigns of Issuer Bound by Indenture. 
 All the covenants,
stipulations, promises and agreements in this First Supplemental Indenture made by or on behalf of the Issuer shall bind its successors and assigns, whether so expressed or not. 

Section 3.02    Counterparts. 

This First 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 instrument. 

Section 3.03    Effect of Headings. 

The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

Section 3.04    Concerning the Trustee. 

The Trustee shall not be responsible in any matter whatsoever for or in respect of the validity or sufficiency of this First Supplemental
Indenture or for or in respect of the recitals contained herein, all of which are made solely by the Issuer. 
 [Remainder of Page
Intentionally Blank] 

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

			
	THE TORONTO-DOMINION BANK
		
	By:	 	/s/ Brooke Hales
		 	 Name: Brooke Hales
 Title: Associate Vice
President, Funding,
 Treasury and Balance Sheet Management

	
	 THE BANK OF NEW YORK MELLON,
 as
Trustee

		
	By:	 	/s/ Teresa Wyszomierski
		 	 Name: Teresa Wyszomierski
 Title: Vice
President

 [Signature Page to First Supplemental Indenture]Exhibit 101 Non-Employee Director Restricted Stock Plan

		

			Exhibit 10.1

		

		

			 

		

		
			SigmaTron International, Inc.
		

		
			 
		

		
			2018 NON-EMPLOYEE DIRECTOR RESTRICTED STOCK PLAN
		

		
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			SECTION 1
		

		
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			PURPOSES OF THE PLAN
		

		
			 
		

		
			The purpose of this 2018 Non-Employee Director Restricted Stock Plan is to promote the success and interests of SigmaTron International, Inc. and enhance the stock ownership of the Directors of the Company by providing a method whereby Non-Employee Directors receive a portion of their annual compensation in restricted shares of the Company’s Common Stock in accordance with this Plan.
		

		
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			SECTION 2
		

		
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			DEFINITIONS AND CONSTRUCTION
		

		
			 
		

		
			2.1    Definitions.  As used in the Plan, terms defined parenthetically immediately after their use shall have the respective meanings provided by such definitions, and the terms set forth below shall have the following meanings (in either case, such terms shall apply equally to both the singular and plural forms of the terms defined):
		

		
			 
		

		
			(a)    “Award” means any Common Stock awarded under the Plan.
		

		
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			(b)    “Award Agreement” means the agreement, certificate or other instrument evidencing the grant of any Award under the Plan.
		

		
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			(c)    “Awarded Stock” means the Common Stock awarded to a Grantee pursuant to the Plan which is subject to any forfeiture and/or restrictions on transferability in accordance with Section 6 of the Plan.
		

		
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			(d)    “Board” means the Board of Directors of the Company.
		

		
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			(e)     “Cause” means: (i) a felony conviction of a Grantee or the failure of a Grantee to contest prosecution for a felony; or (ii) a Grantee’s willful misconduct or dishonesty, any of which is determined by the Board to be directly and materially harmful to the business or reputation of the Company.  
		

		
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			(e)    “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto.
		

		
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			(f)    “Committee” means the Compensation Committee of the Board.
		

		
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			(g)    “Common Stock” means the common stock of the Company.
		

		
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			(h)    “Company” means SigmaTron International, Inc., a Delaware corporation.
		

		
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			(i)    “Director” means a director serving on the Board.
		

		
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			(j)    “Disability” means permanent and total disability as determined under procedures established by the Board for purposes of the Plan.
		

		

		

		 

		

			 

		

		

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

		
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			(l)    “Fair Market Value” means as of any specified date, the closing price of the Common Stock on NASDAQ (or, if the Common Stock is not then listed on such exchange, such other national securities exchange or other market on which the Common Stock is then listed or admitted to trading, as the case may be) on that date, or if no prices are reported on that date, on the last preceding date on which such prices of the Common Stock are reported.
		

		
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			(m)    “Grant Date” means the date on which the Committee granted an Award to a Grantee.
		

		
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			(n)    “Grantee” means a Non-Employee Director who has been granted an Award, or the personal representative, heir or legatee of the Grantee who has rights to Awarded Stock.
		

		
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			(o)    “Non-Employee Director” means a member of the Board who is not an employee of the Company or any Subsidiary of the Corporation.
		

		
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			(p)    “Plan” means this 2018 Non-Employee Director Restricted Stock Plan, as the same may be amended from time to time.
		

		
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			(q)    “Restriction Period” means the period during which shares of Awarded Stock are subject to forfeiture or restrictions on transfer (if applicable) as described in Section 6 of the Plan and any applicable Award Agreement.
		

		
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			(r)    “Retirement” means a Non-Employee Director’s voluntary retirement from the Board.
		

		
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			(s)    “Securities Act” means the Securities Act of 1933, as amended from time to time, and any successor thereto.
		

		
			 
		

		
			2.2    Gender and Number.  Except where otherwise indicated by the context, reference to the masculine gender shall include the feminine gender, the plural shall include the singular and the singular shall include the plural.
		

		
			 
		

		
			2.3    Severability.  In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included.
		

		
			 
		

		
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			SECTION 3
		

		
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			SHARES SUBJECT TO THE PLAN
		

		
			 
		

		
			3.1    Shares Available.  The Common Stock to be offered under the Plan may be authorized, but unissued Common Stock or Common Stock held in treasury.  The aggregate number of shares of Common Stock subject to Awards under the Plan shall not exceed 50,000 shares, subject to the adjustments provided in Section 7.
		

		
			 
		

		
			3.2    Canceled, Terminated or Forfeited Awards.  Any shares of Common Stock subject to any portion of an Award which, in any such case and for any reason, expires, or is canceled, terminated or otherwise forfeited, without the recipient having received any benefits of ownership (as such phrase is construed by the Securities and Exchange Commission or its staff), shall again be available for distribution in connection with Awards under the Plan.
		

		

		

		 

		

			 

		

		

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			SECTION 4
		

		
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			ADMINISTRATION
		

		
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			4.1    General.  The Plan shall be administered by the Committee.  Subject to the express provisions of the Plan, the Committee shall have all of the powers to construe and interpret the Plan and to determine all questions that shall arise thereunder.  Without limiting the foregoing, the Committee shall have authority to interpret the Plan, to prescribe, amend and rescind rules and regulations relating to it, to determine the terms and provisions of the Awards and Agreements (which shall comply with and be subject to the terms and conditions of the Plan) and to make all other determinations necessary or advisable for the administration of the Plan.  Except to the extent otherwise provided by law, the Committee’s determination of the matters referred to in this Section 4.1 shall be conclusive, final and binding on the Company and the Grantees, their heirs and/or beneficiaries.
		

		
			 
		

		
			4.2    Section 16 Compliance.  It is the intention of the Company that the Plan and the administration of the Plan comply in all respects with Section 16(b) of the Exchange Act and the rules and regulations promulgated thereunder.  If any Plan provision, or any aspect of the administration of the Plan, is found not to be in compliance with Section 16(b) of the Exchange Act, the provision or administration shall be deemed null and void, and in all events the Plan shall be construed in favor of its meeting the requirements of Rule 16b-3 promulgated under the Exchange Act.
		

		
			 
		

		
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			SECTION 5  
		

		
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			ELIGIBILITY AND PARTICIPATION
		

		
			 
		

		
			Participation in the Plan shall be limited to Non-Employee Directors.  A director who is an employee of the Company and who retires or resigned from employment with the Company and/or any of its subsidiaries, but remains a director of the Company, shall become eligible to participate in the Plan at the time of such termination of employment.  Subject to the terms of the Plan, the Committee shall determine the amount of, and terms of, all Awards to eligible Non-Employee Directors.
		

		
			 
		

		
			 
		

		
			SECTION 6 
		

		
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			AWARD TERMS
		

		
			 
		

		
			6.1    Awards and Certificates.
		

		
			 
		

		
			(a)    Awarded Stock shall be evidenced in such manner as the Committee may deem appropriate, including book-entry registration or issuance of one or more stock certificates.  Any certificate issued in respect of any Award shall be registered in the name of the Grantee and shall bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Award, substantially in the following form:
		

		
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			“THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) OF THE 2018 NON-EMPLOYEE DIRECTOR RESTRICTED STOCK PLAN OF SIGMATRON INTERNATIONAL, INC. AND AN AWARD AGREEMENT.  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE AT THE OFFICES OF SIGMATRON INTERNATIONAL, INC.” 
		

		
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			(b)    The Committee may require that the certificates evidencing such shares be held in custody by the Company until the restrictions thereon shall have lapsed and that, as a condition of any Award, the Grantee shall have delivered a stock power, endorsed in blank, relating to the Common Stock covered by such Award.
		

		

		

		 

		

			 

		

		

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			(c)    Upon the end of the Restriction Period and provided that the Awarded Stock has not been forfeited, the Company shall, upon the Grantee’s request or upon its own initiative, issue or have issued new certificates without the legend described in Section 6.1(a), in exchange for those certificates previously issued.
		

		
			 
		

		
			6.2    Terms and Conditions.   Awarded Stock shall be subject to the following terms and conditions:
		

		
			 
		

		
			(a)    Vesting.  All Awarded Stock shall be vested on the six-month anniversary of the Grant Date.
		

		
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			(b)    Restrictions on Transfer.  Subject to the provisions of the Plan and the Award Agreement referred to in Section 6.2(g), and until the expiration of the six-month anniversary of the Grant Date (“Restriction Period”), the Grantee shall not be permitted to sell, assign, transfer, pledge or otherwise encumber Awarded Stock; however, the Grantee shall have the right to receive dividends with respect to the Awarded Stock and to vote the shares of the Awarded Stock prior to the expiration of the Restriction Period.
		

		
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			(c)    Rights with Respect to Awarded Stock.  Except as provided in Sections 6.2(b) and this 6.2(c) and the Award Agreement, the Grantee shall have, with respect to the Awarded Stock, all of the rights of a holder of Common Stock including the right to vote the Awarded Stock and, if granted by the Board, the right to receive any dividends.
		

		
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			(d)    Forfeiture of Unvested Awarded Stock.  Except to the extent otherwise provided in the applicable Award Agreement and Sections 6.2(a) and 6.2(f), if a Grantee ceases to be a Non-Employee Director of the Company for any reason other than death, Disability or Retirement, or Cause, all unvested Awarded Stock shall be forfeited as of the date the Grantee ceases to be a Non-Employee Director.
		

		
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			(e)    If a Grantee ceases to be a Director of the Company because of removal for Cause, all unvested Awarded Stock shall be forfeited as of the date the Grantee ceases to be a Director.
		

		
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			(f)    In the event of a Grantee’s death, Disability or Retirement while a Director of the Company, all unvested Awarded Stock shall become fully vested and all restrictions (other than restrictions on transferability in the absence of registration of the Awarded Stock under the Securities Act or the availability of an exemption therefrom), shall end as of the date of such death, Disability or Retirement.
		

		
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			(g)    Each Award shall be confirmed by, and be subject to, the terms of an Award Agreement.
		

		
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			(h)    The Committee may at any time accelerate the vesting of all or any portion of any Award or provide for the lapsing of any conditions or restrictions on any outstanding Award, or portion thereof.
		

		
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			SECTION 7
		

		
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			ADJUSTMENTS UPON CHANGE IN CAPITALIZATION
		

		
			 
		

		
			Notwithstanding the limitations set forth in Section 3, in the event of a merger, reorganization, consolidation, recapitalization, reclassification, split-up, spin-off, separation, liquidation, stock dividend, stock split, reverse stock split, property dividend, share repurchase, share combination, share exchange, issuance of warrants, rights or debentures or other change in corporate structure of the Company affecting the Common Stock, the Committee shall make such substitution or adjustments in the aggregate number and kind of shares reserved for issuance under the Plan, in the number of shares subject to outstanding Awards, and/or such other equitable substitution or adjustments as it may determine to be appropriate in its sole discretion; provided, however, that the number of shares subject to any Award shall always be a whole number.
		

		

		

		 

		

			 

		

		

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			SECTION 8
		

		
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			TERMINATION AND AMENDMENT
		

		
			 
		

		
			The Committee shall have the right and power at any time and from time to time to amend or alter the Plan, in whole or in part, and at any time to terminate the Plan, provided however, that an amendment to the Plan may be conditioned upon the approval of the stockholders of the Company if and to the extent the Committee determines that stockholder approval is necessary, appropriate, or required by law or agreement.    Notwithstanding the foregoing, any termination, amendment, or modification of the Plan shall not, in any material way, adversely affect any Awarded Stock previously granted under the Plan without the written consent of the affected Grantee.
		

		
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			SECTION 9
		

		
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			NO WITHHOLDING
		

		
			 
		

		
			Each Grantee shall be responsible for the payment of any taxes required by law to be paid in respect of Awards under the Plan and the Company shall make no withholding with respect to any Award.
		

		
			 
		

		
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			SECTION 10
		

		
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			NO RIGHT TO RE-ELECTION
		

		
			 
		

		
			Nothing in the Plan or in any Award granted pursuant to the Plan or any action taken under the Plan shall confer on any individual any right to continue as a Non-Employee Director or director of the Company or to be re-nominated by the Board or re-elected by the stockholders of the Company.
		

		
			 
		

		
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			SECTION 11
		

		
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			TERM OF THE PLAN
		

		
			 
		

		
			The Plan shall become effective only upon approval by the stockholders of the Company and, unless earlier terminated in accordance with the provisions of the Plan, shall remain in effect for a term of ten (10) years from the date of such stockholder approval. 
		

		
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			SECTION 12
		

		
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			GOVERNING LAW
		

		
			 
		

		
			To the extent that state laws shall not have been preempted by any laws of the United States, the Plan shall be construed, regulated, interpreted and administered according to the laws of the State of Delaware without regard to its conflict of laws rules.
		

		
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