Document:

Form of Senior Notes Indenture

 EXHIBIT 4.4 
  
 RAM ENERGY RESOURCES, INC. 
 AND 
 SUBSIDIARY GUARANTORS 
 INDENTURE 
 Dated as of                         , 20     
  
  
 Trustee 
         %
SENIOR NOTES DUE 20     
  
  

 CROSS REFERENCE TABLE* 
  

			
	 Trust Indenture Act Section
	  	Indenture Section
	 310(a)(1)
	  	0
	 (a)(2)
	  	0
	 (a)(3)
	  	N.A.
	 (a)(4)
	  	N.A.
	 (a)(5)
	  	0
	 (b)
	  	0
	 (c)
	  	N.A.
	 311(a)
	  	0
	 (b)
	  	0
	 (c)
	  	N.A.
	 312(a)
	  	0
	 (b)
	  	0
	 (c)
	  	0
	 313(a)
	  	0
	 (b)(1)
	  	0
	 (b)(2)
	  	0;0
	 (c)
	  	0;0
	 (d)
	  	0
	 314(a)
	  	0;4.4;0
	 (b)
	  	0
	 (c)(1)
	  	0
	 (c)(2)
	  	0
	 (c)(3)
	  	N.A.
	 (d)
	  	0;0;0
	 (e)
	  	0
	 (f)
	  	N.A.
	 315(a)
	  	0
	 (b)
	  	0;0
	 (c)
	  	0
	 (d)
	  	0
	 (e)
	  	0
	 316 (a)(last sentence)
	  	0
	 (a)(1)(A)
	  	0
	 (a)(1)(B)
	  	0
	 (a)(2)
	  	N.A.
	 (b)
	  	0
	 (c)
	  	0
	 317(a)(1)
	  	0
	 (a)(2)
	  	0
	 (b)
	  	0
	 318(a)
	  	0
	 (b)
	  	N.A.
	 (c)
	  	0

 N.A. means not applicable. 
  

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

  

 INDENTURE 

 EXHIBIT 4.4 
 TABLE OF CONTENTS 
  

					
	ARTICLE 1	 		  	
		 	DEFINITIONS AND INCORPORATION BY REFERENCE	  	1
			
	 SECTION 1.1
	 	DEFINITIONS	  	1
	 SECTION 1.2
	 	OTHER DEFINITIONS	  	17
	 SECTION 1.3
	 	INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT	  	17
	 SECTION 1.4
	 	RULES OF CONSTRUCTION	  	18
			
	ARTICLE 2	 		  	
		 	THE NOTES	  	18
			
	 SECTION 2.1
	 	FORM AND DATING	  	18
	 SECTION 2.2
	 	EXECUTION AND AUTHENTICATION	  	20
	 SECTION 2.3
	 	REGISTRAR AND PAYING AGENT; DEPOSITORY APPOINTMENT	  	21
	 SECTION 2.4
	 	PAYING AGENT TO HOLD MONEY IN TRUST.	  	22
	 SECTION 2.5
	 	HOLDER LISTS	  	22
	 SECTION 2.6
	 	TRANSFER AND EXCHANGE	  	22
	 SECTION 2.7
	 	REPLACEMENT NOTES	  	24
	 SECTION 2.8
	 	OUTSTANDING NOTES	  	24
	 SECTION 2.9
	 	TREASURY NOTES	  	25
	 SECTION 2.10
	 	TEMPORARY NOTES	  	25
	 SECTION 2.11
	 	CANCELLATION	  	25
	 SECTION 2.12
	 	DEFAULTED INTEREST	  	25
	 SECTION 2.13
	 	CUSIP NUMBERS	  	26
			
	ARTICLE 3	 		  	
		 	REDEMPTION AND PREPAYMENT	  	26
			
	 SECTION 3.1
	 	NOTICES TO TRUSTEE	  	26
	 SECTION 3.2
	 	SELECTION OF NOTES TO BE REDEEMED	  	26
	 SECTION 3.3
	 	NOTICE OF REDEMPTION	  	27
	 SECTION 3.4
	 	EFFECT OF NOTICE OF REDEMPTION	  	27
	 SECTION 3.5
	 	DEPOSIT OF REDEMPTION PRICE	  	28
	 SECTION 3.6
	 	NOTES REDEEMED IN PART	  	28
	 SECTION 3.7
	 	OPTIONAL REDEMPTION	  	28
	 SECTION 3.8
	 	MANDATORY REDEMPTION	  	29
	 SECTION 3.9
	 	OFFER TO PURCHASE BY APPLICATION OF EXCESS CASH
	  	29
			
	ARTICLE 4	 		  	
		 	COVENANTS	  	31
			
	 SECTION 4.1
	 	PAYMENT OF NOTES	  	31
	 SECTION 4.2
	 	MAINTENANCE OF OFFICE OR AGENCY	  	31
	 SECTION 4.3
	 	REPORTS	  	32
	 SECTION 4.4
	 	COMPLIANCE CERTIFICATE	  	32

  

 INDENTURE 
  

 i 

 EXHIBIT 4.4 
  

					
	 SECTION 4.5
	 	TAXES; CORPORATE EXISTENCE	  	33
	 SECTION 4.6
	 	STAY, EXTENSION AND USURY LAWS	  	33
	 SECTION 4.7
	 	LIMITATION ON INCURRENCES OF ADDITIONAL INDEBTEDNESS AND
ISSUANCES OF DISQUALIFIED CAPITAL STOCK	  	33
	 SECTION 4.8
	 	LIMITATION ON RESTRICTED PAYMENTS	  	34
	 SECTION 4.9
	 	LIMITATION ON DIVIDENDS AND OTHER PAYMENT RESTRICTIONS
AFFECTING RESTRICTED SUBSIDIARIES OF THE COMPANY	  	36
	 SECTION 4.10
	 	LIMITATION ON TRANSACTIONS WITH AFFILIATES	  	37
	 SECTION 4.11
	 	LIMITATION ON ASSET SALES	  	38
	 SECTION 4.12
	 	LIMITATION ON LIENS	  	39
	 SECTION 4.13
	 	LIMITATION ON LINE OF BUSINESS	  	39
	 SECTION 4.14
	 	DESIGNATION OF UNRESTRICTED SUBSIDIARIES	  	40
	 SECTION 4.15
	 	LIMITATION ON THE SALE OR ISSUANCE OF CAPITAL
STOCK OF RESTRICTED SUBSIDIARIES OF THE COMPANY	  	41
	 SECTION 4.16
	 	OWNERSHIP AND RECOGNITION OF SUBSIDIARIES; FUTURE
GUARANTORS	  	41
			
	ARTICLE 5	 		  	
		 	SUCCESSORS	  	42
			
	 SECTION 5.1
	 	LIMITATION ON MERGER OR SALE OR CONSOLIDATION	  	42
	 SECTION 5.2
	 	SUCCESSOR CORPORATION SUBSTITUTED	  	42
			
	ARTICLE 6	 		  	
		 	DEFAULTS AND REMEDIES	  	42
			
	 SECTION 6.1
	 	EVENTS OF DEFAULT	  	42
	 SECTION 6.2
	 	ACCELERATION	  	44
	 SECTION 6.3
	 	OTHER REMEDIES	  	44
	 SECTION 6.4
	 	WAIVER OF PAST DEFAULTS	  	45
	 SECTION 6.5
	 	CONTROL BY TWO-THIRDS CONSENT	  	45
	 SECTION 6.6
	 	LIMITATION ON SUITS	  	45
	 SECTION 6.7
	 	RIGHTS OF HOLDERS OF NOTES TO RECEIVE
PAYMENT	  	46
	 SECTION 6.8
	 	COLLECTION SUIT BY TRUSTEE	  	46
	 SECTION 6.9
	 	TRUSTEE MAY FILE PROOFS OF CLAIM	  	46
	 SECTION 6.10
	 	PRIORITIES	  	46
	 SECTION 6.11
	 	UNDERTAKING FOR COSTS	  	47
			
	ARTICLE 7	 		  	
		 	TRUSTEE	  	47
			
	 SECTION 7.1
	 	DUTIES OF TRUSTEE	  	47
	 SECTION 7.2
	 	RIGHTS OF TRUSTEE	  	48
	 SECTION 7.3
	 	INDIVIDUAL RIGHTS OF TRUSTEE	  	49
	 SECTION 7.4
	 	TRUSTEE’S DISCLAIMER	  	49
	 SECTION 7.5
	 	NOTICE OF DEFAULT	  	49
	 SECTION 7.6
	 	REPORT BY TRUSTEE TO HOLDERS OF THE
NOTES	  	49
	 SECTION 7.7
	 	COMPENSATION AND INDEMNITY	  	50

  

 INDENTURE 
  

 ii 

 EXHIBIT 4.4 
  

					
	 SECTION 7.8
	 	REPLACEMENT OF TRUSTEE	  	50
	 SECTION 7.9
	 	SUCCESSOR TRUSTEE BY MERGER, ETC	  	51
	 SECTION 7.10
	 	ELIGIBILITY; DISQUALIFICATION	  	51
	 SECTION 7.11
	 	PREFERENTIAL COLLECTION OF CLAIMS AGAINST THE COMPANY	  	52
			
	ARTICLE 8	 		  	
		 	LEGAL DEFEASANCE AND COVENANT DEFEASANCE; SATISFACTION
AND DISCHARGE	  	52
			
	 SECTION 8.1
	 	OPTION TO EFFECT LEGAL DEFEASANCE OR COVENANT
DEFEASANCE	  	52
	 SECTION 8.2
	 	LEGAL DEFEASANCE AND DISCHARGE	  	52
	 SECTION 8.3
	 	COVENANT DEFEASANCE	  	53
	 SECTION 8.4
	 	CONDITIONS TO LEGAL OR COVENANT DEFEASANCE	  	53
	 SECTION 8.5
	 	DEPOSITED MONEY AND GOVERNMENT SECURITIES TO BE HELD
IN TRUST; OTHER MISCELLANEOUS PROVISIONS	  	54
	 SECTION 8.6
	 	REPAYMENT TO THE COMPANY	  	55
	 SECTION 8.7
	 	REINSTATEMENT	  	55
	 SECTION 8.8
	 	SATISFACTION AND DISCHARGE OF INDENTURE	  	56
			
	ARTICLE 9	 		  	
		 	AMENDMENT, SUPPLEMENT AND WAIVER	  	56
			
	 SECTION 9.1
	 	WITHOUT CONSENT OF HOLDERS OF NOTES	  	56
	 SECTION 9.2
	 	WITH CONSENT OF HOLDERS OF NOTES	  	57
	 SECTION 9.3
	 	COMPLIANCE WITH TRUST INDENTURE ACT	  	58
	 SECTION 9.4
	 	REVOCATION AND EFFECT OF CONSENTS	  	58
	 SECTION 9.5
	 	NOTATION ON OR EXCHANGE OF NOTES	  	58
	 SECTION 9.6
	 	TRUSTEE TO SIGN AMENDMENT ETC	  	59
			
	ARTICLE 10	 		  	
		 	SUBSIDIARY GUARANTEES	  	59
			
	 SECTION 10.1
	 	SUBSIDIARY GUARANTEES	  	59
	 SECTION 10.2
	 	ADDITIONAL SUBSIDIARY GUARANTEES	  	61
	 SECTION 10.3
	 	LIMITATION OF SUBSIDIARY GUARANTORS’ LIABILITY	  	61
	 SECTION 10.4
	 	SUBSIDIARY GUARANTORS MAY CONSOLIDATE ETC., ON CERTAIN
TERMS	  	62
	 SECTION 10.5
	 	RELEASES OF SUBSIDIARY GUARANTORS	  	63
	 SECTION 10.6
	 	“TRUSTEE” TO INCLUDE PAYING AGENT	  	63
	 SECTION 10.7
	 	CONTRIBUTION	  	63
	 SECTION 10.8
	 	EXECUTION OF SUBSIDIARY GUARANTEES	  	64
			
	ARTICLE 11	 		  	
		 	MISCELLANEOUS	  	64
			
	 SECTION 11.1
	 	TRUST INDENTURE ACT CONTROLS	  	64
	 SECTION 11.2
	 	NOTICES	  	64
	 SECTION 11.3
	 	COMMUNICATION BY HOLDERS OF NOTES WITH OTHER HOLDERS
OF NOTES	  	65
	 SECTION 11.4
	 	CERTIFICATE AND OPINION AS TO CONDITIONS PRECEDENT	  	66

  

 INDENTURE 
  

 iii 

 EXHIBIT 4.4 
  

					
	 SECTION 11.5
	 	STATEMENTS REQUIRED IN CERTIFICATE OR OPINION	  	66
	 SECTION 11.6
	 	RULES BY TRUSTEE AND AGENTS	  	66
	 SECTION 11.7
	 	NO PERSONAL LIABILITY OF DIRECTORS, OFFICERS, EMPLOYEES
AND SHAREHOLDERS	  	67
	 SECTION 11.8
	 	GOVERNING LAW	  	67
	 SECTION 11.9
	 	NO ADVERSE INTERPRETATION OF OTHER AGREEMENTS	  	67
	 SECTION 11.10
	 	SUCCESSORS	  	67
	 SECTION 11.11
	 	SEVERABILITY	  	67
	 SECTION 11.12
	 	COUNTERPART ORIGINALS	  	67
	 SECTION 11.13
	 	TABLE OF CONTENTS, HEADINGS, ETC	  	67

  

 INDENTURE 
  

 iv 

 INDENTURE dated as of
                    , 20    , by and among RAM ENERGY RESOURCES, INC., a Delaware
corporation (the “Company”), the Subsidiary Guarantors (as defined herein) and
                                         
   , as trustee (the “Trustee”). 
 The Company, the Subsidiary Guarantors
and the Trustee agree as follows for the benefit of one another and for the equal and ratable benefit of the Holders of the         % Senior Notes due 20     of the Company (the
“Notes”), without preference of any issuance of Notes under this Indenture over another: 
 ARTICLE 1 
 DEFINITIONS AND INCORPORATION
BY REFERENCE 
  

	SECTION 1.1	DEFINITIONS. 

 “Adjusted Consolidated Net Income” of the Company for any period means the Net Income of the Company and the Subsidiary Guarantors for such period, determined in accordance with GAAP, excluding
(i) the Net Income of any Unrestricted Subsidiary of the Company which is a consolidated Subsidiary of the Company for such period and (ii) the amount of the deduction from Net Income of the Company attributable to the minority interest in
any Unrestricted Subsidiary of the Company which is a consolidated Subsidiary of the Company for such period. 
 “Adjusted Consolidated Net Tangible Assets” means (without duplication), as of the date of determination, (i) the sum of (a) discounted future net revenue from proved oil and gas reserves of
the Company and the Subsidiary Guarantors calculated in accordance with Commission guidelines before any state or federal income taxes, as estimated or audited by independent petroleum engineers in one or more Reserve Reports prepared as of the end
of the Company’s most recently completed fiscal year as increased by, as of the date of determination, the discounted future net revenue of (A) estimated proved oil and gas reserves of the Company and the Subsidiary Guarantors
attributable to any acquisition consummated since the effective date of such year-end Reserve Reports and (B) estimated oil and gas reserves of the Company and the Subsidiary Guarantors attributable to extensions, discoveries and other
additions and upward revisions of estimates of proved oil and gas reserves due to exploration, development or exploitation, production or other activities conducted or otherwise occurring since the effective date of such year-end Reserve Reports
which, in the case of the preceding sub-clauses (A) and (B), would, in accordance with standard industry practice, result in such increases, in each case calculated in accordance with Commission guidelines (utilizing the prices utilized
in such year-end Reserve Reports), and decreased by, as of the date of determination, the discounted future net revenue of (C) estimated proved oil and gas reserves of the Company and the Subsidiary Guarantors produced or disposed of
since the effective date of such year-end Reserve Reports and (D) reductions in the estimated oil and gas reserves of the Company and the Subsidiary Guarantors since the effective date of such year-end Reserve Reports attributable to downward
revisions of estimates of proved oil and gas reserves due to exploration, development or exploitation, production or other activities conducted or otherwise occurring since the effective date of such year-end Reserve Reports which would, in
accordance with standard industry practice, result in such revisions, in each case calculated in accordance with Commission guidelines (utilizing the prices utilized in such year-end Reserve Reports); provided that, in the case of each of the
determinations made pursuant to the preceding sub-clauses (A) through (D), such increases and decreases shall be as estimated by the Company’s engineers, except that if there is a Material Change and in connection with the
Incurrence of Indebtedness for which the Consolidated Fixed Charge Coverage Ratio must be determined, all or any part of an increase in discounted future net revenue resulting from the matters described in the preceding sub-clauses (A) and
(B) is needed to

  

 1 

 
permit the Incurrence of such Indebtedness, then the discounted future net revenue utilized for purposes of clause (i)(a) of this definition shall be confirmed in writing by independent
petroleum engineers, provided further that, if the events referred to in the preceding sub-clauses (C) and (D), when taken alone, would not cause a Material Change, then such written confirmation need only cover the incremental
additions to discounted future net revenue resulting from the determinations made pursuant to the preceding sub-clauses (A) and (B) to the extent needed to permit the Incurrence of such Indebtedness, (b) the capitalized costs
that are attributable to oil and gas properties of the Company and the Subsidiary Guarantors to which no proved oil and gas reserves are attributed, based on the Company’s books and records as of a date no earlier than the date of the
Company’s latest annual or quarterly financial statements, (c) the Net Working Capital on a date no earlier than the date of the Company’s latest annual or quarterly financial statements, (d) the greater of (A) the net book
value on a date no earlier than the date of the Company’s latest annual or quarterly financial statements and (B) the appraised value, as estimated by independent appraisers, of other tangible assets (including the amount of Investments in
unconsolidated Subsidiaries) of the Company and the Subsidiary Guarantors, as of a date no earlier than the date of the Company’s latest audited financial statements, and (e) the positive value, if any, of the Company’s and the
Subsidiary Guarantors’ Hedging Contracts on the date of determination, minus (ii) the sum of (a) minority interests, (b) any non-current portion of gas balancing liabilities of the Company and the Subsidiary Guarantors
reflected in the Company’s latest annual or quarterly financial statements, (c) the discounted future net revenue, calculated in accordance with Commission guidelines (utilizing the prices utilized in the Company’s year-end Reserve
Reports), attributable to reserves which are required to be delivered to third parties to fully satisfy the obligations of the Company and the Subsidiary Guarantors with respect to Production Payments on the schedules specified with respect thereto,
(d) the discounted future net revenue, calculated in accordance with Commission guidelines (utilizing the same prices utilized in the Company’s year-end Reserve Reports), attributable to reserves subject to participation interests,
overriding royalty interests or other interests of third parties, pursuant to participation, partnership, vendor financing or other agreements then in effect, or which otherwise are required to be delivered to third parties, (e) the amount of
environmental liabilities payable by the Company or any Subsidiary Guarantor and (f) the negative value, if any, of the Company’s and the Subsidiary Guarantors’ Hedging Contracts on the date of determination. If the Company changes
its method of accounting from the full cost method to the successful efforts method or a similar method of accounting, Adjusted Consolidated Net Tangible Assets will continue to be calculated as if the Company was still using the full cost method of
accounting. 
 “Affiliate” means (i) any Person, directly or indirectly, controlling
or controlled by or under direct or indirect common control with the Company or any Subsidiary of the Company or any officer, director, or employee of the Company or any Subsidiary of the Company or of such Person, (ii) the spouse, any
immediate family member, or any other relative who has the same principal residence of any Person described in clause (i) above, and any Person, directly or indirectly, controlling or controlled by or under direct or indirect common control
with, such spouse, family member or other relative, and (iii) any trust in which any Person described in clause (i) or (ii) of this definition is a fiduciary or has a beneficial interest. For purposes of this definition, the
term “control” means (a) the power to direct the management and policies of a Person, directly or through one or more intermediaries, whether through the ownership of voting securities, by contract, or otherwise, or (b) the
beneficial ownership of 10% or more of the Voting Stock of such Person (on a fully diluted basis) or of warrants or other rights to acquire such equity (whether or not presently exercisable). 
 “Agent” means any Registrar, Paying Agent or as appointed hereunder, any co-registrar or
authenticating agent. 
  

 2 

 “Applicable Premium” means, with respect to any Note on any
applicable Redemption Date, the greater of: (i) 1.0% of the then outstanding principal amount of the Note; and (ii) the excess of (a) the present value at such Redemption Date of (A) the Redemption Price of the note
at December 15, 2012 (such Redemption Price being set forth in Section 3.01(b)) plus (B) all required interest payments due on the Note through December 15, 2012 (excluding accrued but unpaid interest), computed using a
discount rate equal to the Treasury Rate as of such Redemption Date, over (b) the then outstanding principal amount of the Note. 
 “Asset Sale” means (i) any direct or indirect conveyance, sale, transfer or other disposition (including through damage or destruction for which Insurance Proceeds are paid or by condemnation), in
one transaction or a series of related transactions, of any of the properties, businesses or assets of the Company or any of its Restricted Subsidiaries, whether owned on the Issue Date or thereafter acquired or (ii) any sale or other
disposition by the Company of any Capital Stock of any Affiliate, Unrestricted Subsidiary or any Restricted Subsidiary of the Company. Notwithstanding the foregoing, the following will not be deemed to be an Asset Sale: (a) the conveyance,
sale, lease, transfer or other disposition by any Restricted Subsidiary of the Company of any or all of its assets (upon voluntary liquidation or otherwise) to the Company; (b) the conveyance, sale, lease, transfer or other disposition by any
Restricted Subsidiary of any or all of its assets (upon voluntary liquidation or otherwise) to another Restricted Subsidiary of the Company; (c) non-material dispositions of assets in the ordinary course of business; (d) Asset Sales not
otherwise included by clauses (a) through (c) or (f) and (g) of this definition, provided that the aggregate proceeds from all such Asset Sales do not exceed $10,000,000 in any twelve-month period; (e) the
disposition of all or substantially all of the assets of (A) the Company and the Subsidiary Guarantors, taken as a whole, or (B) the Company, if such disposition is governed by the provisions of Section 4.17 or 5.01; (f) a
conveyance, sale, assignment, lease, license, transfer, abandonment or other disposal by the Company and the Subsidiary Guarantors of (A) damaged, worn out, unserviceable or other obsolete property in the ordinary course of business or
(B) other property no longer necessary for the proper conduct of their business; and (g) the conveyance, sale, transfer or other disposition by the Company and its Restricted Subsidiaries of crude oil and natural gas production and refined
products, including natural gas liquids, in the ordinary course of business of the Oil and Gas Business. 
 “Attributable Indebtedness” in respect of a Sale and Leaseback Transaction means, at the time of determination, the present value (discounted at the rate of interest implicit in such transaction,
determined in accordance with GAAP or, in the event that such rate of interest is not reasonably determinable, discounted at the rate of interest borne by the Notes) of the obligation of the lessee for net rental payments during the remaining term
of the lease included in such Sale and Leaseback Transaction (including any period for which such lease has been extended or may, at the option of the lessor, be extended). 
 “Bankruptcy Custodian” means any receiver, trustee, assignee, liquidator or similar officer under any
Bankruptcy Law. 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or
state law of any jurisdiction, domestic or foreign to the United States of America or any of its states, for the relief of debtors. 
 “Board of Directors” means, with respect to a Person, the board of directors of such Person or if not a board of directors, a comparable governing body of such Person, or any authorized committee of
such board or governing body, as applicable. 
  

 3 

 “Board Resolution” means, with respect to a Person, a copy of a
resolution certified by (i) the secretary or an assistant secretary of such Person and (ii) the principal financial officer of such Person to have been duly adopted by the Board of Directors of such Person and to be in full force and
effect on the date of such certification. 
 “Business Day” means any day other than a
Saturday, Sunday or any other day on which banking institutions in the City of New York, New York are required or authorized by law or other governmental action to be closed. 
 “Capital Expenditures” of a Person means expenditures (whether paid in cash or accrued as a liability)
by such Person or any of its Subsidiaries that, in conformity with GAAP, are or would be included in “capital expenditures,” “additions to property, plant, or equipment” or comparable items in the consolidated financial
statements of such Person consistent with prior accounting practices. 
 “Capital Stock”
means, with respect to any Person, (i) any capital stock of such Person and shares, interests, participations or other ownership interests (however designated) of such Person, including without limitation, each class of common stock and
preferred stock of such Person, if such Person is a corporation, (ii) each general or limited partnership interest of such Person, if such Person is a partnership, (iii) each membership or similar interest of such Person, if such Person is
a limited liability company and (iv) each other interest or participation that confers on a Person the right to receive a share of the profits or losses of, or distributions of assets of, the issuing Person, in each case, including any rights
(other than debt securities convertible into any such interests), warrants or options to purchase any of the foregoing. 
 “Capitalized Lease Obligation” means obligations under a lease that are required to be capitalized for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by
such obligations shall be the capitalized amount of such obligations, as determined in accordance with GAAP. 
 “Cash Equivalents” means (i) United States dollars, (ii) securities issued or directly and fully guaranteed or insured by the United States government or any agency or instrumentality thereof
having maturities of not more than one year from the date of acquisition, (iii) certificates of deposit with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year, and
overnight bank deposits, in each case, with any Eligible Institution, (iv) repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses (ii) and (iii) of this
definition entered into with any Eligible Institution, (v) commercial paper rated “P-l,” “A-l” or the equivalent thereof by Moody’s or Standard & Poor’s, respectively, and in each case maturing within 180
days after the date of acquisition, (vi) shares of money market funds, including those of the Trustee, that invest solely in United States dollars and securities of the types described in clauses (i) through (v) of this
definition, and (vii) demand and time deposits and certificates of deposit with an Eligible Institution or with commercial banks insured by the Federal Deposit Insurance Corporation. 
 “Commission” means the Securities and Exchange Commission. 
 “Consolidated Fixed Charge Coverage Ratio” on any date means, with respect to the Company, the ratio,
on a pro forma basis, of (i) the aggregate amount of EBITDA attributable to continuing operations and businesses (exclusive of the amounts attributable to operations and businesses discontinued or disposed of, on a pro forma basis
as if such operations and businesses were discontinued or disposed of on the first day of the Reference Period) for the Reference Period to (ii) the aggregate Consolidated Interest Expense (exclusive of amounts attributable to discontinued
operations and businesses on a pro forma basis as if such operations and businesses were discontinued or disposed of on the first day of the Reference Period, but only to the extent that the obligations giving rise to such Consolidated
Interest Expense would no longer be

  

 4 

 
obligations contributing to Consolidated Interest Expense subsequent to the date of discontinuation or disposal) during the Reference Period; provided that, for purposes of such
computation, in calculating EBITDA and Consolidated Interest Expense, (a) the transaction giving rise to the need to calculate the Consolidated Fixed Charge Coverage Ratio shall be assumed to have occurred on the first day of the Reference
Period, (b) the Incurrence of any Indebtedness or issuance of Disqualified Capital Stock or the retirement of any Indebtedness or Capital Stock during the Reference Period or subsequent thereto shall be assumed to have occurred on the first day
of such Reference Period, and (c) Consolidated Interest Expense attributable to any Indebtedness (whether existing or being Incurred) bearing a floating interest rate shall be computed as if the rate in effect on the date of determination had
been the applicable rate for the entire period, unless the Company or any Subsidiary Guarantor is a party to a Swap Obligation (that remains in effect for the 12-month period after the date of determination) that has the effect of fixing the
interest rate on the date of computation, in which case such rate (whether higher or lower) shall be used. 
 “Consolidated Interest Expense” means, for any period, the aggregate interest expense (without duplication) during such period in respect of all Indebtedness of the Company and the Subsidiary Guarantors
(including all commissions, discounts, other fees and charges owed with respect to letters of credit and banker’s acceptance financing and costs associated with Swap Obligations) determined on a consolidated basis in accordance with GAAP. For
purposes of this definition, (i) interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP
(including Statement of Financial Accounting Standards No. 13 of the Financial Accounting Standards Board), and (ii) Consolidated Interest Expense attributable to any Indebtedness guaranteed by the Company or a Subsidiary Guarantor, other
than with respect to Indebtedness of the Company or a Subsidiary Guarantor, shall be deemed to be the interest expense attributable to the item guaranteed. 
 “Corporate Trust Office of the Trustee” shall be the address of the Trustee specified in Section 0 or such other address as to which the Trustee may give
notice to the Company. 
 “Default” means an event or condition, the occurrence of which
is, or with the lapse of time or giving of notice or both would be, an Event of Default. 
 “Definitive
Notes” means Notes that are in the form of the Note attached hereto as Exhibit A, excluding the paragraphs referred to in footnotes 1 and 2 thereto and the schedule referred to in footnote 3 thereto, but
including the modification referred to in footnote a. 
 “Depository” means, with
respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 0 as the Depository with respect to the Notes, until a successor shall have been appointed and become such pursuant to the
applicable provision of this Indenture, and, thereafter, “Depository” shall mean or include such successor. 
 “Disinterested Director” means, with respect to any transaction or series of related transactions in respect of which the Board of Directors is required to deliver a Board Resolution of such Board of
Directors under this Indenture, a member of such Board of Directors who does not have any material direct or indirect financial interest (other than an interest arising solely from the beneficial ownership of Capital Stock of the Company) in or with
respect to such transaction or series of transactions. 
 “Disqualified Capital Stock”
means, with respect to any Person, any Capital Stock of such Person or its Subsidiaries that, by its terms or by the terms of any security into which it is convertible or exchangeable, is, or upon the happening of an event or the passage of time
would be, required to be redeemed or repurchased by such Person or its Subsidiaries, including at the option of the holder, in whole or in part, or

  

 5 

 
has, or upon the happening of an event or passage of time would have, a redemption or similar payment due, on or prior to the Stated Maturity Date. 
 “EBITDA” means, for any period, (i) the sum of the Adjusted Consolidated Net Income for such
period, plus (ii) the sum, without duplication (and only to the extent such amounts are deducted from net revenues in determining such Adjusted Consolidated Net Income), of (a) the provision for federal and state income taxes for
such period, (b) depreciation, depletion, and amortization for such period, (c) Consolidated Interest Expense for such period, determined on a consolidated basis for the Company and the Subsidiary Guarantors in accordance with GAAP,
(d) any charge associated solely with the prepayment of any Indebtedness (provided that neither the Incurrence of such Indebtedness nor the making of such prepayment occurred in violation of any provision of this Indenture),
(e) unrealized losses related to Hedging Contracts, and (f) any other non-cash charges. 
 “Eligible
Institution” means a commercial banking institution that has combined capital and surplus of not less than $500,000,000 and that is rated “A” (or higher) according to Moody’s or Standard & Poor’s at
the time as of which any investment or rollover therein is made. 
 “Exchange Act” means
the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Commission thereunder. 
 “Exchange Assets” means assets acquired by the Company or any Subsidiary Guarantor in exchange for assets of the Company or any Subsidiary Guarantor in connection with an Asset Sale, which acquired
assets include proved reserves with a value that, together with the cash or Cash Equivalents received therefor by the Company or such Subsidiary Guarantor, is equal to or greater than the value of the proved reserves included in the assets disposed
of by the Company or such Subsidiary Guarantor in connection with such Asset Sale; provided, that (i) ownership of such assets does not violate the provisions of Section 4.13 and (ii) during any fiscal year, the Company
and the Subsidiary Guarantors can collectively acquire assets (other than proved reserves, cash or Cash Equivalents) with a fair market value of up to $500,000 in exchange for assets of the Company and the Subsidiary Guarantors. 
 “GAAP” means generally accepted accounting principles as in effect in the United States on the Issue
Date applied on a basis consistent with that used in the preparation of the audited financial statements of the Company included in the Prospectus. 
 “Global Note” means a Note that is in the form of the Note attached hereto as Exhibit A, including the paragraphs referred to in footnotes 1 and 2
thereto and the schedule referred to in footnote 3 thereto, but excluding, to the extent therein referenced, the text referred to in footnote a thereto. 
 “Government Securities” means securities that are (i) direct obligations of the United States of America for the timely payment of which its full faith and
credit is pledged or (ii) 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 of the United States of America, which, in either case, are not callable or redeemable as the option of the issuer 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 Security or a specific payment of principal of or interest on any such Government Security 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 Security or the specific
payment of principal of or interest on the Government Security evidenced by such depository receipt. 
  

 6 

 “Guarantee” means, as applied to any Indebtedness or
other obligation, (i) a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner, of any part or all of such Indebtedness or other obligation and
(ii) an agreement, direct or indirect, contingent or otherwise, the practical effect of which is to assure in any way the payment or performance (or payment of damages in the event of nonperformance) of all or any part of such Indebtedness or
other obligation, including, without limiting the foregoing, the payment of amounts drawn down under letters of credit. When used as a verb, “guarantee” has a corresponding meaning. 
 “Hedging Contract” means an oil, gas or oil and gas purchase or hedging agreement, and other agreement
or arrangements, in each case, that is designed to provide protection against fluctuations in the prices of oil or gas, or both. 
 “Holder” means any Person from time to time in whose name any Note is registered on the Note Register. 
 “Hydrocarbons” means oil, natural gas, condensate, and natural gas liquids. 
 “Incur” means, with respect to any Indebtedness, to create, incur, assume, guarantee or otherwise become liable for, contingently or otherwise, any Indebtedness, and
the term “Incurrence” when used as a noun shall have a correlative meaning. Neither the accrual of interest nor the accretion of original issue discount, nor the accretion of principal of a non-interest bearing or other
discount security shall be deemed the Incurrence of Indebtedness. 
 “Indebtedness” means,
with respect to any Person, without duplication (i) all liabilities, contingent or otherwise, of such Person (a) for borrowed money (whether or not the recourse of the lender is to the whole of the assets of such Person or only to a
portion thereof), (b) evidenced by bonds, notes, debentures, or similar instruments or letters of credit or representing the balance deferred and unpaid of the purchase price of any property acquired by such Person or services received by such
Person, but excluding trade account payables and accrued liabilities arising in the ordinary course of business that are not overdue by 90 days or being contested in good faith by appropriate proceedings, promptly instituted and diligently pursued,
(c) evidenced by bankers’ acceptances or similar instruments issued or accepted by banks or Swap Obligations, (d) for the payment of money relating to a Capitalized Lease Obligation, (e) for the Attributable Indebtedness
associated with any Sale and Leaseback Transaction or (f) for Production Payments, (ii) reimbursement obligations of such Person with respect to letters of credit, (iii) all liabilities of others of the kind described in clause
(i) or (ii) of this definition that such Person has guaranteed or that is otherwise its legal liability (to the extent of such guarantee or other legal liability) other than for endorsements, with recourse, of negotiable instruments in
the ordinary course of business, and (iv) all obligations secured by a Lien (other than Permitted Liens, except to the extent the obligations secured by such Permitted Liens are otherwise included in clause (i), (ii) or
(iii) of this definition and are obligations of such Person) to which the property or assets (including, without limitation, leasehold interests and any other tangible or intangible property rights) of such Person are subject, regardless of
whether the obligations secured thereby shall have been assumed by or shall otherwise be such Person’s legal liability (but, if such obligations are not assumed by such Person or are not otherwise such Person’s legal liability, the amount
of such Indebtedness shall be deemed to be limited to the fair market value of such property or assets determined as of the end of the preceding fiscal quarter). 
 “Indenture” means this indenture, as amended or supplemented from time to time. 
  

 7 

 “Insurance Proceeds” means the interest in and to all
proceeds (net of costs of collection, including attorneys’ fees) which now or hereafter may be paid under any insurance policies now or hereafter obtained by or on behalf of the Company or any Subsidiary Guarantor in connection with any assets
thereof, together with interest payable thereon and the right to collect and receive the same, including, without limitation, proceeds of casualty insurance, title insurance, business interruption insurance and any other insurance now or hereafter
maintained with respect to such assets. 
 “Interest Rate or Currency Agreement” of any
Person means any forward contract, futures contract, swap, option or other financial agreement or arrangement (including, without limitation, caps, floors, collars, puts and similar agreements) relating to, or the value of which is dependent upon,
interest rates or currency exchange rates. 
 “Investment” by any Person in any other
Person means (i) the acquisition (whether for cash, property, services, securities or otherwise) of Capital Stock, bonds, notes, debentures, partnership, or other ownership interests or other securities of such other Person or any agreement to
make any such acquisition, (ii) the making by such Person of any deposit with, or advance, loan or other extension of credit to, such other Person (including the purchase of property from another Person subject to an understanding or agreement,
contingent or otherwise, to resell such property to such other Person) and (without duplication) any amount committed to be advanced, loaned or extended to such other Person, (iii) the entering into of any guarantee of, or other contingent
obligation with respect to, Indebtedness or other liability of such other Person, (iv) the entering into of any Swap Obligation with such other Person, or (v) the making of any capital contribution by such Person to such other Person.

 “Investment Grade Rating” means with respect to any Person or issue of debt securities
or preferred stock, a rating in one of the four highest letter rating categories (without regard to “+” or “-” or other modifiers) by any Rating Agency or if any such Rating Agency has ceased using letter rating categories or the
four highest of such letter rating categories are not considered to represent “investment grade” ratings, then the comparable “investment grade” ratings (as designated by any such Rating Agency). 
 “Issue Date” means the first date on which the Notes are issued under this Indenture. 
 “Lien” means any mortgage, lien, pledge, charge, security interest, or other encumbrance of any kind,
regardless of whether filed, recorded, or otherwise perfected under applicable law (including any conditional sale or other title retention agreement and any lease deemed to constitute a security interest and any option or other agreement to give
any security interest). 
 “Material Change” means an increase or decrease (excluding
changes that result solely from changes in prices) of more than either (i) 10% from the end of the immediately preceding fiscal quarter in the estimated discounted future net revenue from proved oil and gas reserves of the Company and its
Restricted Subsidiaries, or (ii) 20% from the end of the immediately preceding year in the estimated discounted future net revenue from proved oil and gas reserves of the Company and its Restricted Subsidiaries, in each case calculated in
accordance with clause (i)(a) of the definition of “Adjusted Consolidated Net Tangible Assets”; provided, however, that the following will be excluded from the calculation of Material Change: (a) any acquisitions of
oil and gas reserves made after the end of the immediately preceding year for which the discounted future net revenues have been estimated by independent petroleum engineers since the end of the preceding year and on which a Reserve Report or
Reserve Reports exist and (b) any disposition of properties existing at the beginning of the current quarter or current year, as the case may be, for purposes of clause (i) or clause (ii) of this definition, that have
been disposed of in accordance with the provisions of Section 4.11. 
  

 8 

 “Moody’s” means Moody’s Investors Service,
Inc. and any successor to the rating agency business thereof. 
 “Net Cash Proceeds” means
an amount equal to (i) the aggregate amount of cash and Cash Equivalents received by the Company or any Restricted Subsidiary of the Company in respect of an Asset Sale, less (ii) the sum of (a) all reasonable out-of-pocket
fees, commissions, and other expenses incurred in connection with such Asset Sale, including the amount (estimated in good faith by the Company) of income, franchise, sales and other applicable taxes to be paid, payable or accrued by the Company or
such Restricted Subsidiary (in each case as estimated in good faith by the Company without giving effect to tax attributes unrelated to such Asset Sale) in connection with such Asset Sale, and (b) the aggregate amount of cash and Cash
Equivalents so received which is used to retire any then existing Indebtedness of the Company or any Subsidiary Guarantor (other than the Notes), as the case may be, which is secured by a Lien on the property which is the subject of the Asset Sale
or which is required by the terms of such Indebtedness to be repaid in connection with such Asset Sale. 
 “Net Income” of any Person for any period means the net income (loss) of such Person for such period, determined on a consolidated basis in accordance with GAAP, excluding (without duplication)
(i) all extraordinary, unusual and nonrecurring gains, (ii) the net income, if positive, of any other Person, in which such Person or any of its consolidated Subsidiaries has an interest, except to the extent of the amount of any dividends
or distributions actually paid in cash to such Person or a consolidated Subsidiary of such Person during such period, (iii) the net income, if positive, of any Person acquired in a pooling of interests transaction for any period prior to the
date of such acquisition and (iv) the net income, if positive, of any Subsidiary of such Person to the extent that the declaration or payment of dividends or similar distributions is not at the time permitted by operation of the terms of its
charter or any agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation applicable to such Subsidiary. 
 “Net Proceeds” means (i) in the case of any sale by a Person of Qualified Capital Stock or other securities, the aggregate net cash proceeds received by such
Person from the sale of such securities (if such Person is the Company, other than to a Restricted Subsidiary of the Company, and if such Person is not the Company, other than to any of its consolidated Subsidiaries) after payment of reasonable
out-of-pocket expenses, commissions and discounts incurred in connection therewith, and (ii) in the case of any exchange, exercise, conversion or surrender of any outstanding securities or Indebtedness of such Person for or into shares of
Qualified Capital Stock of such Person, the net book value of such outstanding securities as adjusted on the books of such Person or Indebtedness of such Person to the extent recorded in accordance with GAAP, in each case, on the date of such
exchange, exercise, conversion or surrender (plus any additional amount required to be paid by the holder of such Indebtedness or securities to such Person upon such exchange, exercise, conversion or surrender and less (a) any and
all payments made to the holders of such Indebtedness or securities and (b) all other expenses incurred by such Person in connection therewith, in each case, in so far as such payments or expenses are incident to such exchange, exercise,
conversion, or surrender). 
 “Net Working Capital” of any Person means (i) all
current assets of such Person and, if such Person is the Company, the Subsidiary Guarantors, and if such Person is not the Company, its Restricted Subsidiaries, minus (ii) all current liabilities of such Person and its consolidated
Subsidiaries other than the current portion of long term Indebtedness, each item to be determined on a consolidated basis in conformity with GAAP. 
 “Net Worth” of any Person means, at any date of determination, stockholders’ equity as set forth on the most recently available quarterly or annual consolidated
balance sheet of such Person and, if such Person is the Company, the Subsidiary Guarantors, and if such Person is not the Company, its Restricted

  

 9 

 
Subsidiaries (which balance sheet shall be as of a date not more than 90 days prior to the date of such computation), less any amounts included therein attributable to Disqualified Capital
Stock or any equity security convertible into or exchangeable for Indebtedness, the cost of treasury stock (not otherwise deducted from stockholders’ equity), and the principal amount of any promissory notes receivable from the sale of the
Capital Stock of such Person or, if such Person is the Company, any of the Subsidiary Guarantor, and if such Person is not the Company, its Restricted Subsidiaries, each item to be determined in conformity with GAAP. 
 “Note Custodian” means the Trustee, as custodian with respect to the Global Notes, or any successor
entity thereto. 
 “Note Register” means the register maintained by or for the Company in
which the Company shall provide for the registration of the Notes and the transfer of the Notes. 
 “Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness. 
 “Offering” has the meaning assigned to such term in the Prospectus. 
 “Officer” means, with respect to any Person, its chief or principal executive officer, president,
chief or principal financial officer, principal accounting officer, treasurer, secretary or any vice president of such Person. 
 “Officers’ Certificate” means a certificate signed by two Officers of the Company, at least one of whom shall be the principal executive officer, principal accounting officer or principal financial
officer of the Company, that meets the requirements of Section 0. 
 “Oil and Gas
Assets” means assets and properties used in the Oil and Gas Business. 
 “Oil and Gas
Business” means the business of acquiring, holding, leasing, selling, exploring and developing oil and gas assets and properties, including the exploration for, and exploitation, development, production, processing (but not
refining), purchasing, marketing and transportation of, Hydrocarbons and other related oil and gas businesses. 
 “Oil and Gas Securities” means the Voting Stock of a Person engaged in the Oil and Gas Business, provided that such Voting Stock shall constitute a majority of the Voting Stock of such Person in
the event that such Voting Stock is not subject to the reporting requirements of the Exchange Act. 
 “Opinion
of Counsel” means a written opinion of legal counsel who is reasonably acceptable to the Trustee, that meets the requirements of Section 0. The counsel may be an employee of or counsel to the Company. 
 “Opinion of Independent Counsel” means a written opinion of legal counsel which is issued by a Person
who is not an employee, director or consultant (other than non-employee legal counsel) of the Company or any of its Subsidiaries, who may be outside counsel to the Company and who shall be reasonably acceptable to the Trustee. 
 “Permitted Bank Credit Facility” means, with respect to any Person, a term, revolving credit or letter
of credit facility, or any combination of such facilities, with a commercial banking institution or other commercial lender, the proceeds of which are used to acquire Oil and Gas Securities or Oil and Gas Assets,

  

 10 

 
for working capital and other general corporate purposes, as the same may be amended, extended or refinanced from time to time. 
 “Permitted Hedging Transactions” means non-speculative transactions in futures, forwards, swaps or
option contracts (including both physical and financial settlement transactions) engaged in by the Company and the Subsidiary Guarantors as part of their normal business operations as a risk-management strategy or hedge against adverse changes in
the prices of natural gas, feedstock or refined products which arise in the ordinary course of business of the Company and the Subsidiary Guarantors; provided, that such transactions do not in the case of the Company and the Subsidiary
Guarantors, on a monthly basis, relate to more than 90% of their projected net natural oil and gas production per month for the next 3-month period measured at the time of such transaction; provided, further, that, at the time of such
transaction (i) the counterparty to any such transaction is an Eligible Institution or a Person that has an Investment Grade Rating or has an issue of debt securities or preferred stock outstanding with an Investment Grade Rating or
(ii) such counterparty’s obligation pursuant to such transaction is unconditionally guaranteed in full by, or secured by a letter of credit issued by, an Eligible Institution or a Person that has an Investment Grade Rating or that has an
issue of debt securities or preferred stock outstanding with an Investment Grade Rating, or (iii) the counterparty to any such transaction is approved by the lenders under a Permitted Bank Credit Facility. 
 “Permitted Indebtedness” means, without duplication, (i) the Indebtedness evidenced by the
Original Notes or the Subsidiary Guarantees, (ii) Indebtedness owed by any Subsidiary Guarantor to the Company or any other Subsidiary Guarantor or Indebtedness owed by the Company to any Subsidiary Guarantor; provided that in each case,
(a) such Indebtedness is Subordinated Indebtedness, and (b) upon any subsequent issuance or transfer of any Capital Stock or any other event that results in any such Subsidiary Guarantor ceasing to be a Subsidiary Guarantor or any other
subsequent transfer of any such Indebtedness (except to the Company or a Subsidiary Guarantor), such Indebtedness shall be deemed to be Incurred and shall be treated as an Incurrence of Indebtedness for purposes of the provisions of
Section 4.7 at the time the Subsidiary Guarantor in question ceased to be a Subsidiary Guarantor or the time such subsequent transfer occurred, (iii) Indebtedness outstanding under a Permitted Bank Credit Facility so long as the
aggregate principal amount of all Indebtedness outstanding under all Permitted Bank Credit Facilities for the Company and the Subsidiary Guarantors does not exceed $             less
the amount of Net Cash Proceeds from any Asset Sale applied pursuant to the provisions of Section 4.11 to repay or prepay such Indebtedness that results in a permanent reduction relating thereto, (iv) Swap Obligations of the Company
or the Subsidiary Guarantors, (v) Indebtedness outstanding on the Issue Date (and not repaid with the proceeds of the Offering), (vi) other Indebtedness owed by the Company or the Subsidiary Guarantors in an aggregate principal amount
outstanding not to exceed $20,000,000 at any one time, whether of the same type as permitted by clauses (i) through (v) and (vii) of this definition or otherwise, and (vii) Permitted Refinancing Indebtedness of the Company
and the Subsidiary Guarantors. 
 “Permitted Investment” means, when used with reference
to the Company or any Subsidiary Guarantor, (i) trade credit extended to Persons in the ordinary course of business, (ii) purchases of Cash Equivalents, (iii) Investments by the Company or the Subsidiary Guarantors in Persons which
are or which will, contemporaneously with the making of such Investment, become Wholly Owned Subsidiary Guarantors and are engaged in the Oil and Gas Business, (iv) Investments in Oil and Gas Assets, (v) Investments in any Person the sole
consideration for which consists of Qualified Capital Stock of the Company, (vi) Interest Rate and Currency Agreements with respect to Permitted Bank Credit Facilities entered into with one or more financial institutions that are lender parties
thereto in the ordinary course of business and not for purposes of speculation and that are designed to protect the Company against risks or fluctuations in interest rates related to payment obligations existing and arising under such Permitted Bank
Credit Facilities and Swap Obligations, (vii) advances to officers and employees of the Company or any

  

 11 

 
Subsidiary Guarantor in connection with the performance of their duties in the ordinary course of business in an amount not to exceed $250,000 in the aggregate outstanding at any time,
(viii) margin deposits in connection with Permitted Hedging Transactions, (ix) Investments and expenditures made in the ordinary course of business by the Company or the Subsidiary Guarantors, and of a nature that is or shall have become
customary in, the Oil and Gas Business as a means of actively exploiting, exploring for, acquiring, developing, enhanced recovery of, processing, gathering, purchasing, selling, marketing or transporting oil or gas through agreements, transactions,
interests or arrangements, including arrangements which permit a Person to share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of the Oil and Gas
Business jointly with third parties, including, without limitation, (a) ownership interests in Oil and Gas Assets or gathering systems and (b) Investments and expenditures in the form of or pursuant to operating agreements, processing
agreements, farm-in agreements, farm-out agreements, development agreements, area of mutual interest agreements, unitization agreements, pooling arrangements, joint bidding agreements, service contracts, joint venture agreements, partnership
agreements (whether general or limited), subscription agreements, stock purchase agreements and other similar agreements with third parties; provided that in the case of any joint venture engaged in processing, gathering, marketing or
transporting oil or gas (1) all Indebtedness of such joint venture (other than a joint venture that is an Unrestricted Subsidiary of the Company) that would not otherwise constitute Indebtedness of the Company or a Subsidiary Guarantor shall be
deemed Indebtedness of such Person in proportion to its direct or indirect ownership interest in such joint venture and (2) such joint venture shall be reasonably calculated to enhance the value of the reserves of such Person or marketability
of production from such reserves, (x) other Investments not in excess of $25,000,000 at any time outstanding, and (xi) loans made to officers, directors and employees of the Company or any Subsidiary Guarantor approved by the applicable
Board of Directors (or by an authorized officer), the proceeds of which are used solely to purchase stock or to exercise stock options received pursuant to an employee stock option plan or other incentive plan, in a principal amount not to exceed
the purchase price of such stock or the exercise price of such stock options, as applicable. 
 “Permitted
Liens” with respect to any Person means (i) Liens imposed by governmental authorities for taxes, assessments, or other charges not yet due or which are being contested in good faith and by appropriate proceedings, if
adequate reserves with respect thereto are maintained on the books of any such Person in accordance with GAAP, (ii) statutory Liens of landlords, carriers, warehousemen, mechanics, materialmen, repairmen, vendors, mineral interest owners, or
other like Liens arising by operation of law in the ordinary course of business provided that (a) the underlying obligations are not overdue for a period of more than 60 days, or (b) such Liens are being contested in good faith and
by appropriate proceedings and adequate reserves with respect thereto are maintained on the books of any such Person in accordance with GAAP, (iii) deposits of cash or Cash Equivalents to secure the performance of bids, trade contracts (other
than borrowed money), leases, statutory obligations, surety bonds, performance bonds, and other obligations of a like nature incurred in the ordinary course of business (or to secure reimbursement obligations or letters of credit issued to secure
such performance or other obligations), (iv) easements, rights-of-way, zoning, similar restrictions and other similar encumbrances or title defects incurred in the ordinary course of business which, in the aggregate, are not material in amount
and which do not, in any case, materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of such Person, (v) Liens securing the Notes, any Subsidiary Guarantee or any
Permitted Bank Credit Facility, (vi) pledges or deposits made in the ordinary course of business in connection with worker’s compensation, unemployment insurance, other types of social security legislation, property insurance and liability
insurance, (vii) Liens on the assets of any Person existing at the time such assets are acquired by such Person, whether by merger, consolidation, purchase of assets or otherwise so long as such Liens (a) are not created, incurred or
assumed in contemplation of such assets being acquired by such Person and (b) do not extend to any other assets of such Person, (viii) leases or subleases granted to others (to the extent of any such lessee’s normal and customary
usage rights thereunder) or obtained from others (to the extent of any

  

 12 

 
such lessor’s title thereunder), in either case, that do not materially interfere with the ordinary course of business of any of such Person, (ix) Liens ordinarily and customarily
arising under operating agreements, (x) Liens securing other Permitted Indebtedness, and (xi) any extension, renewal or replacement of the Liens created pursuant to any of clauses (i) through (x) of this definition,
provided that such Liens would have otherwise been permitted under such clauses, and provided further that the Liens permitted by this clause (xi) do not secure any additional Indebtedness or encumber any additional property.

 “Permitted Refinancing Indebtedness” means any Indebtedness of a Person issued in
exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund, other Indebtedness of such Person; provided that (i) the principal amount (or accreted value, if applicable) of such Permitted
Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) then outstanding of the Indebtedness for which the exchange is made or so extended, refinanced, renewed, replaced, defeased or refunded (plus the amount
of reasonable expenses incurred in connection therewith), (ii) such Permitted Refinancing Indebtedness (other than Indebtedness under Permitted Bank Credit Facilities) has a final maturity date later than the final maturity date of, and has a
weighted average life equal to or greater than the weighted average life of, the Indebtedness for which the exchange is made or being extended, refinanced, renewed, replaced, defeased or refunded, (iii) if the Indebtedness for which the
exchange is made or being extended, refinanced, renewed, replaced, defeased or refunded is subordinated in right of payment to the Notes or any Subsidiary Guarantee (as the case may be) such Permitted Refinancing Indebtedness has a final maturity
date later than the final maturity date of, and is subordinated in right of payment to, the Notes or any Subsidiary Guarantee (as the case may be), on terms at least as favorable to the Holders of Notes or any Subsidiary Guarantee (as the case may
be) as those contained in the documentation governing the Indebtedness for which the exchange is made or being extended, refinanced, renewed, replaced, defeased or refunded, and (iv) with respect to any such Indebtedness of the Company for
which the exchange is made or being extended, refinanced, renewed, replaced, defeased or refunded, such Permitted Refinancing Indebtedness shall not be Incurred by any Subsidiary Guarantor. 
 “Person” means any corporation, individual, joint stock company, joint venture, partnership, limited
liability company, unincorporated association, governmental regulatory entity, country, state, or political subdivision thereof, trust, municipality, or other entity. 
 “Preferred Stock” means, with respect to any Person, any class or classes (however designated) of Capital Stock of such Person that is preferred as to the payment of
dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person over shares of Capital Stock of any other class of such Person. 
 “Production Payment” means any volumetric or dollar-denominated production payment or other similar
burden on the property of the Company or any Subsidiary Guarantor. 
 “Prospectus” means the
“Prospectus” regarding the issuance of the Notes, which is included as a part of the Company’s Registration Statement on
                    . 
 “Public Equity Offering” means an underwritten public offering, subsequent to the Issue Date, by a nationally recognized member of the National Association of Securities Dealers, Inc. of Qualified
Capital Stock of the Company pursuant to an effective registration statement filed with the Commission pursuant to the Securities Act. 
 “Qualified Capital Stock” means any Capital Stock that is not Disqualified Capital Stock. 
  

 13 

 “Rating Agencies” means Standard and Poor’s and
Moody’s, or any successor to the respective rating agency businesses thereof. 
 “Redemption Date”
means, when used with respect to any Note to be redeemed, the date fixed for redemption pursuant to this Indenture and the Notes. 
 “Reference Period” with regard to any Person means the four full fiscal quarters of such Person ended on or immediately preceding any date upon which any determination is to be made pursuant to the
terms of the Notes or this Indenture. 
 “Reserve Report” means a report prepared by
independent petroleum engineers with respect to Hydrocarbon reserves in accordance with guidelines published by the Commission. 
 “Responsible Officer”, when used with respect to the Trustee, means any officer within the corporate trust department of the Trustee (or any successor group of the Trustee) with the direct responsibility for
the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject. 

“Restricted Investment” means (i) the designation of a Subsidiary as an Unrestricted
Subsidiary in the manner described in the definition of “Unrestricted Subsidiary” and (ii) any Investment other than a Permitted Investment. 
 “Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that is not an Unrestricted Subsidiary of such Person. 
 “Sale and Leaseback Transaction” means an arrangement relating to property owned on the Issue Date or
thereafter acquired whereby a Person or a Subsidiary of such Person transfers such property to another Person and leases it back from such other Person. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. 
 “Standard and Poor’s” means Standard and Poor’s Ratings Services, a division of The
McGraw-Hill Companies, Inc., and any successor to the rating agency business thereof. 
 “Stated Maturity
Date” means                     . 
 “Subordinated Indebtedness” means Indebtedness of the Company or a Subsidiary Guarantor that (i) requires no payment of principal prior to or on the Stated
Maturity Date and (ii) is expressly subordinate and junior in right of payment to the Notes or the Subsidiary Guarantees, as the case may be. 
 “Subsidiary” with respect to any Person means, as of each relevant time, (i) a corporation with respect to which such Person or its Subsidiaries (or any
combination thereof) own or control , directly or indirectly, at least 50% of such corporation’s Voting Stock, (ii) a partnership in which such Person or a Subsidiary of such Person is, at the time, a general partner of such partnership
and has more than 50% of the total voting power of partnership interests, or (iii) any other Person (other than a corporation or a partnership) in which such Person, one or more Subsidiaries of such Person, or such Person and one or more
Subsidiaries of such Person, directly or indirectly, has (a) at least a 50% ownership interest or (b) the power to elect or direct the election of the directors or other governing body of such other Person. 
  

 14 

 “Subsidiary Guarantee” means any guarantee of the
Notes by any Subsidiary Guarantor pursuant to the provisions of this Indenture. 
 “Subsidiary
Guarantors” means each Person that guarantees the payment and performance of the Notes in accordance with the provisions of this Indenture, in each case, until any such Person shall be released and relieved of its obligations as
a Subsidiary Guarantor pursuant to the provisions of this Indenture. 
 “Swap Obligation”
of any Person means any Interest Rate or Currency Agreement or Hedging Contract entered into with one or more financial institutions or one or more futures exchanges in the ordinary course of business and not for purposes of speculation that is
designed to protect such Person against risks or fluctuations that arise in the ordinary course of business of the Company and the Subsidiary Guarantors in (i) interest rates related to payment obligations on Indebtedness (other than Permitted
Indebtedness) permitted to be Incurred pursuant to the provisions of Section 4.7(a) and which shall have a notional amount no greater than 100% of the principal amount of such Indebtedness being hedged thereby, (ii) currency
exchange rate fluctuations related to the payment obligations on Indebtedness (other than Permitted Indebtedness) permitted to be Incurred pursuant to the provisions of Section 4.7(a) or to the foreign currency cash flows reasonably
expected to be generated by the Company and the Subsidiary Guarantors and the notional principal amount of such currency exchange obligations does not exceed the amount of such foreign currency cash flows to which they relate, or
(iii) fluctuations in oil and gas prices. 
 “TIA” means the Trust Indenture Act of
1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date on which this Indenture is qualified under the TIA, except as provided in Section 0; provided, however, that, in the event the Trust Indenture Act of 1939 is
amended after such date, “Trust Indenture Act” means, to the extent required by such amendments, the Trust Indenture Act of 1939 as so amended. 
 “Trustee” means the party named as such above until a successor replaces it in accordance with the applicable provisions of this Indenture and thereafter means the
successor serving hereunder. 
 “Unrestricted Non-Recourse Indebtedness” of any
Unrestricted Subsidiary means (i) Indebtedness of such Person that is secured solely (other than with respect to clause (ii) below) by a Lien upon the stock of an Unrestricted Subsidiary of such Person and as to which there is no recourse
(other than with respect to clause (ii) below) against such Person or any of its assets other than against such stock (and the dollar amount of any Indebtedness of such Person as described in this clause (i) shall be deemed to be zero for
purposes of all other provisions of this Indenture) and (ii) guarantees of the Indebtedness of Unrestricted Subsidiaries of such Person. 
 “Unrestricted Subsidiary” means, in respect of any Person, any other Person (“Other Person”) that would, but for this definition of “Unrestricted
Subsidiary”, be a Restricted Subsidiary of such Person organized or acquired after the Issue Date as to which all of the following conditions apply: (i) neither such Person nor any of its other Subsidiaries provides, or is obligated to
provide, any credit support of any Indebtedness, or other financial support, of such Other Person (including any undertaking, agreement or instrument evidencing such Indebtedness or maintenance or preservation of such Other Person’s financial
condition or to cause such Other Person to achieve any specified levels of operating results); (ii) such Other Person is not liable, directly or indirectly, with respect to any Indebtedness other than Unrestricted Subsidiary Indebtedness and
does not own any Capital Stock of, or own or hold any Lien on any property of, such Person or any of its other Restricted Subsidiaries; (iii) neither such Person nor any of its Restricted Subsidiaries has made an Investment in such Other Person
unless such Investment was permitted by the provisions of Section 4.8, and neither such Person nor any of its Restricted Subsidiaries has any obligations

  

 15 

 
to make any Investment in such Other Person; (iv) such Other Person, either alone or in the aggregate with all other Unrestricted Subsidiaries, does not operate or own, directly or
indirectly, any significant portion of the assets or business of such Person and its other Subsidiaries; and (v) the Board of Directors of such Person, as provided below, shall have designated such Other Person to be an Unrestricted Subsidiary
on or prior to the date of organization or acquisition of such Other Person. Any such designation by the Board of Directors of such Person shall be evidenced to the Trustee by delivering to the Trustee a Board Resolution thereof giving effect to
such designation and an Officers’ Certificate certifying that such designation complies with the foregoing conditions and was permitted by the provision of Section 4.8. 
 “Unrestricted Subsidiary Indebtedness” means, as to any Unrestricted Subsidiary of any Person,
Indebtedness of such Unrestricted Subsidiary (i) as to which neither such Person nor any Subsidiary of such Person (a) is directly or indirectly liable (by virtue of such Person or any such Subsidiary being the primary obligor on,
guarantor of, general partner of, or otherwise liable in any respect to, such Indebtedness), or (b) constitutes a lender, (ii) no default with respect to which would permit any holder of any Indebtedness of such Person or any Subsidiary of
such Person to declare a default on such Indebtedness of such Person or any Subsidiary of such Person or cause the payment thereof to be accelerated or payable prior to its stated maturity, and (iii) as to which the lenders have been notified
in writing that they will not have any recourse to the stock or assets of such Person or any of its Subsidiaries. 
 “Voting Stock” means Capital Stock of a Person entitled (without regard to the occurrence of any contingency) to vote in the election of the directors, managers, trustees or similar Persons of such
Person. 
 “Wholly Owned Subsidiary” means any Subsidiary to the extent (i) all of
the Capital Stock or other ownership interests in such Subsidiary, other than any directors’ qualifying shares mandated by applicable law and redeemable preferred stock of Carlton (as referred in Section 4.8(b)(4)) which is
outstanding on the Issue Date but is fully and finally redeemed and discharged no later than as provided in Sections 4.8(b)(4) and 4.18, is owned directly or indirectly by the Company or (ii) such Subsidiary is organized in a
foreign jurisdiction and is required by the applicable laws and regulations of such foreign jurisdiction to be partially owned by the government of such foreign jurisdiction or individual or corporate citizens of such foreign jurisdiction or another
foreign jurisdiction in order for such Subsidiary to transact business in such foreign jurisdiction, provided that the Company, directly or indirectly, owns the remaining Capital Stock or ownership interests in such Subsidiary and, by
contract or otherwise, controls the management and business of such Subsidiary and derives the economic benefits of ownership of such Subsidiary to substantially the same extent as if such Subsidiary were a wholly owned Subsidiary. 
 “Wholly Owned Subsidiary Guarantor” means any Subsidiary Guarantor to the extent (i) all of the
Capital Stock or other ownership interests in such Subsidiary Guarantor, other than any directors’ qualifying shares mandated by applicable law and redeemable preferred stock of Carlton (as referred in Section 4.8(b)(4)) which is
outstanding on the Issue Date but is fully and finally redeemed and discharged no later than as provided in Sections 4.8(b)(4) and 4.18, is owned directly or indirectly by the Company or (ii) such Subsidiary Guarantor is
organized in a foreign jurisdiction and is required by the applicable laws and regulations of such foreign jurisdiction to be partially owned by the government of such jurisdiction or individual or corporate citizens of such foreign jurisdiction or
another foreign jurisdiction in order for such Subsidiary Guarantor to transact business in such foreign jurisdiction, provided that the Company, directly or indirectly, owns the remaining Capital Stock or ownership interests in such
Subsidiary Guarantor and, by contract or otherwise, controls the management and business of such Subsidiary Guarantor and derives the economic benefits of ownership of such Subsidiary Guarantor to substantially the same extent as if such Subsidiary
Guarantor were a Wholly Owned Subsidiary of the Company. 
  

 16 

	SECTION 1.2	OTHER DEFINITIONS. 

  

			
	 Term
	  	Defined in
Section
	 “Adjusted Net Assets”
	  	10.7
	 “Agent Members”
	  	2.1
	 “Benefitted Party”
	  	10.1
	 “Covenant Defeasance”
	  	8.3
	 “DTC”
	  	2.3
	 “Event of Default”
	  	6.1
	 “Excess Cash”
	  	4.11
	 “Excess Cash Acceptance Amount
	  	4.11
	 “Excess Cash Offer”
	  	4.11
	 “Excess Cash Offer Amount”
	  	4.11
	 “Excess Cash Offer Price”
	  	4.11
	 “Excess Cash Offer Trigger Date”
	  	4.11
	 “Excess Cash Purchase Date”
	  	4.11
	 “Funding Guarantor”
	  	10.7
	 “Interest Payment Date”
	  	Exhibit A
	 “Legal Defeasance”
	  	8.2
	 “Offer Period”
	  	3.9
	 “Original Notes”
	  	2.2
	 “Paying Agent”
	  	2.3
	 “Registrar”
	  	2.3
	 “Restricted Payment”
	  	4.8
	 “Subsidiary Guarantee”
	  	10.1

  

	SECTION 1.3	INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT.

 Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and
made a part of this Indenture. 
 The following TIA terms used in this Indenture have the following meanings: 
 “indenture securities” means the Notes and the Subsidiary Guarantees; 
 “indenture security Holder” means a Holder of a Note; 
 “indenture to be qualified” means this Indenture; 
 “indenture trustee” or “institutional trustee” means the Trustee; 
 “obligor” on the Notes means the Company, any Subsidiary Guarantor and any successor obligor upon the Notes.

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

 17 

	SECTION 1.4	RULES OF CONSTRUCTION. 

 Unless the context otherwise requires: 
 (i) a term has the meaning
assigned to it; 
 (ii) an accounting term not otherwise defined has the meaning assigned to it in accordance
with GAAP; 
 (iii) “or” is not exclusive, and “including” means
“including without limitation”, “including but not limited to” or words of similar import; 
 (iv) words in the singular include the plural, and in the plural include the singular; 
 (v) the words
“herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision;

 (vi) all references herein to particular Articles, Sections, clauses or subclauses of Sections and Exhibits
refer to this Indenture unless expressly otherwise as indicated; 
 (vii) provisions apply to successive events
and transactions; and 
 (viii) references to sections of or rules under the Securities Act or the Exchange Act
shall be deemed to include substitute, replacement of successor sections or rules adopted by the Commission from time to time. 
 ARTICLE 23 
 THE NOTES 
  

	SECTION 2.1	FORM AND DATING. 

 (a) General. The Notes, the notation thereon relating to the Subsidiary Guarantees and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A.
The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note shall be issued in fully-registered form, without coupon, in minimum denominations of $1,000 and integral multiples thereof, and shall be
dated the date of its authentication. 
 All Notes issued pursuant to this Indenture shall be considered collectively to be a
single class for all purposes of this Indenture, including, waivers, amendments, redemptions and offers to purchase. 
 The
terms and provisions contained in the form of the Notes and the notation thereon relating to the Subsidiary Guarantees annexed hereto as Exhibit A and the Subsidiary Guarantees shall constitute, and are hereby expressly made, a part of
this Indenture, and the Company, the Subsidiary Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. 
  

 18 

 (b) Global Notes. 
 (i) Generally. The Notes initially offered and sold pursuant to the Prospectus shall be issued in the form of one or more permanent
global notes and shall be substantially in the form of Exhibit A (including the text referred to in footnotes 1 and 2 thereto and the schedule referred to in footnote 3 thereto, but excluding, to the extent therein referenced,
the text referred to in footnote a thereto). Each Global Note shall be deposited on behalf of the purchasers of the Notes represented thereby with, or on behalf of, the Depository, registered in the name of the Depository or its designated
nominee, duly executed by the Company and authenticated by the Trustee as herein provided. Each Global Note shall represent such of the outstanding Notes as shall be specified therein, and each shall provide that it shall represent the aggregate
amount of outstanding Notes from time to time endorsed thereon and that the aggregate amount of outstanding Notes represented thereby may from time to time be increased, subject to the limitation set forth in Section 2.2, or decreased,
by adjustments made on the records of the Trustee and the Depository or its nominee as herein provided. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the amount of outstanding Notes represented thereby shall
be made by the Trustee or the Note Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.6. The Notes shall remain in the form of Global Notes until the
occurrence of either of the events specified in clause (y) or (z) of Section 2.6(b)(ii) and the completion of the cancellation and reissuance procedures therein provided. 
 (ii) Book-Entry Provisions. The Company shall execute and the Trustee shall, in accordance with Section 2.2, authenticate
and deliver each Global Note that shall be (i) registered in the name of the Depository or its nominee and (ii) delivered by the Trustee to the Depository or pursuant to the Depository’s instructions or held by the Trustee as Note
Custodian for the Depository. With respect to the Notes that are represented by a Global Note, the Company authorizes the execution and delivery by the Trustee of a letter of representation or other similar agreement or instrument in the form
customarily provided by the Depository appointed with respect to such Global Note. 
 Members of, or participants in, the
Depository (“Agent Members”) shall have no rights either under this Indenture with respect to any Global Note held on their behalf by the Depository (or its nominee), or the Note Custodian as its custodian, or under such Global
Note, and the Depository may be treated by the Company, the Subsidiary Guarantors, the Trustee and any agent of the Company, the Subsidiary Guarantors or the Trustee as the absolute owner and Holder of such Global Note for all purposes whatsoever,
including the Person (i) through whom all rights of ownership may be exercised, (ii) to whom all notices are required to be made, and (iii) entitled to receive payments from or at the direction of the Company with respect to the
Notes. Notwithstanding the foregoing, (y) the registered Holder of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take action that a
Holder is entitled to take under this Indenture or the Notes and (z) nothing herein shall prevent the Company, the Subsidiary Guarantors, the Trustee or any agent of the Company, the Subsidiary Guarantors or the Trustee from giving effect to
any written certification, proxy or other authorization furnished by the Depository or shall impair, as between the Depository and its Agent Members, the operation of customary practices and procedures of such Depository governing the exercise of
the rights of an owner of a beneficial interest of any Note. 
 (c) Definitive Notes. Notes shall be issued in definitive
form upon either of the occurrences specified in clause (y) or (z) of Section 2.6(b)(ii), and when so issued, shall be substantially in the form of Exhibit A (including the modification provided for in footnote a
thereto, but excluding the text referred to in footnotes 1 and 2 thereto and the schedule referred to in footnote 3 thereto) and executed, authenticated and delivered as provided for in, or referred to by, Section 2.6(b)(ii).

  

 19 

	SECTION 2.2	EXECUTION AND AUTHENTICATION. 

 One Officer shall sign the Notes for the Company 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 nevertheless be valid. Each Subsidiary Guarantor shall execute its Subsidiary Guarantee in the manner set forth in Section 10.8. 
 A Note shall not be valid until authenticated by the manual signature of the Trustee. The signature shall be conclusive evidence that the
Note has been authenticated under this Indenture. The form of Trustee’s certificate of authentication to be borne by the Notes shall be substantially as set forth in Exhibit A. 
 The Trustee shall authenticate (i) the Notes for original issue on the Issue Date in the aggregate principal amount of
$                     (the “Original Notes”) and (ii) additional Notes for original issue from time to time after the
Issue Date in such principal amount as may be set forth in a written order of the Company delivered to the Trustee, which written order shall specify (a) the amount of Notes to be authenticated and the date of original issue thereof and
(b) the amount of Notes to be issued in global form or definitive form. The aggregate principal amount of Notes outstanding at any time may not exceed
$                     plus such additional principal amounts as may be issued and authenticated pursuant to clause (ii) of this
paragraph, except as provided in Section 2.8. 
 The Trustee may appoint an authenticating agent acceptable to the
Company to authenticate Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the
same rights as an Agent to deal with the Company or an Affiliate of the Company. 
 At any time and from time to time after the
execution of this Indenture, the Trustee or an authenticating agent shall upon receipt of a written order of the Company signed by two Officers or by an Officer and either an assistant secretary or an assistant treasurer of the Company authenticate
for original issue Notes in the aggregate principal amount specified in such order; provided that the Trustee shall be entitled to receive an Officers’ Certificate and an Opinion of Counsel of the Company that it may reasonably request
in connection with such authentication of Notes. Such order shall specify the amount of Notes to be authenticated, the date on which the original issue of Notes is to be authenticated and the aggregate principal amount of Notes then authorized.

  

 20 

	SECTION 2.3	REGISTRAR AND PAYING AGENT; DEPOSITORY APPOINTMENT.

 The Company shall maintain an office or agency where Notes may be presented for registration of transfer or
for exchange (“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar shall keep a register of the Notes and of their transfer and
exchange. The Company may appoint one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying
Agent” includes any additional paying agent. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company shall notify the Trustee in writing of the name and address of any Agent not a party to
this Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any domestically incorporated Wholly Owned Subsidiary Guarantor may act as Paying Agent, Registrar
or co-registrar. The Company shall enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company
shall notify the Trustee of the name and address of any Agent not a party to this Indenture. 
 The Company initially appoints
the Trustee to act as the Registrar and Paying Agent and to act as Note Custodian with respect to the Global Notes. 
 The
Company initially appoints The Depository Trust Company (“DTC”) to act as Depository with respect to the Global Notes. 
  

 21 

	SECTION 2.4	PAYING AGENT TO HOLD MONEY IN TRUST.

 The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying
Agent will hold in trust for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal, of premium, if any, or interest on the Notes and will notify the Trustee of any default by the Company in making any
such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. 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. Upon payment over to the Trustee and upon accounting for all funds disbursed, the Paying Agent (if other than the Company or a Subsidiary thereof) shall have no further liability for the money.
If the Company or a Subsidiary thereof acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the
Company, the Trustee shall serve as Paying Agent for the Notes. Each Paying Agent shall otherwise comply with TIA § 317(b). 
  

	SECTION 2.5	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 all Holders and shall otherwise comply with TIA §
312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least seven Business Days before each Interest Payment Date and at such other times as the Trustee may request in writing, a list in such form and as of such
date as the Trustee may reasonably require of the names and addresses of the Holders of Notes, and the Company shall otherwise comply with TIA § 312(a). 
  

	SECTION 2.6	TRANSFER AND EXCHANGE. 

 (a) Transfer and Exchange Notes - Generally. When a Note is presented by a Holder to the Registrar or co-registrar with a request: 
 (y) to register the transfer of the Note; or 
 (z) to exchange such Note for an equal principal amount of Notes of other authorized denominations, 
 the Registrar or a co-registrar shall register the transfer or make the exchange as requested if its requirements for such transactions are met;
provided, however, that each Note presented or surrendered for register of transfer or exchange shall be duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar or a co-registrar duly executed
by such Holder or by its attorney, duly authorized in writing. 
 To permit registrations of transfers and exchanges, the
Company shall execute and the Trustee shall authenticate Notes at the Registrar’s or a co-registrar’s request and upon surrender and submission of the applicable Note or Notes. No service charge shall be made to a Holder for any
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge
payable upon exchange or transfer pursuant to Sections 3.7, 3.9, 4.11, 4.17 and 9.5). Neither the Registrar nor a co-registrar shall be required to register the transfer or exchange of (i) any Note selected for redemption in
whole or in part, except the unredeemed portion of any Note being redeemed in part, or (ii) any Note the transfer of which is not required by the Company pursuant to this Section 2.6(a). All Notes issued upon any registration of
transfer or exchange pursuant to the applicable terms of this

  

 22 

 
Indenture shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of
transfer or exchange. 
 The Company shall not be required: 
 (w) to issue, to register the transfer or exchange of, or to exchange, Notes during a period beginning at the opening of
business 15 days before the day of any selection of Notes for redemption under Section 3.2 or repurchase under Section 3.9, 4.11 or 4.17, and ending at the close of business on the day of selection; 
 (x) to register the transfer or exchange of or to exchange any Note so selected for redemption or repurchase in whole or in
part, except the unredeemed or unpurchased portion of any Note being redeemed or repurchased in part; 
 (y) to
register the transfer of or to exchange a Note between a record date and the next succeeding interest payment date; or 
 (z) to register the transfer of or to exchange a Note other than in amounts of $1,000 or integral multiples thereof. 
 Prior to due presentment for the registration of a transfer or exchange of any Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the
purpose of receiving payment of principal of and premium (if any) and interest on such Note and for all other purposes whatsoever (whether or not the Note is overdue), and neither the Trustee, any Agent nor the Company shall be affected by notice to
the contrary. 
 (b) Transfer and Exchange of Global Notes. 
 (i) Generally. Notwithstanding anything to the contrary contained in Section 2.6(a), transfers of Global Notes shall be
limited to transfers thereof in whole, but not in part, and may be transferred as a whole only 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; provided, that each such transfer is effected through the Depository, its applicable rules and procedures and otherwise in accordance with
this Indenture. The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depository, in accordance with this Indenture and the rules and procedures of the Depository that apply to such transfer or exchange.

 (ii) Exchange of Global Notes for Definitive Notes; Authentication of Definitive Notes. Definitive Notes shall be
transferred to all beneficial owners of Global Notes in exchange for their beneficial interest in such Global Notes if, and only if, either (y) the Company notifies the Trustee in writing that the Depository has notified it that the
Depository is unwilling or unable to continue as Depository for the Global Notes and a qualified successor Depository for the Global Notes is not appointed by the Company within 90 days after delivery of such notice; or (z) the Company, at its
option, notifies the Trustee in writing that it elects to cause the issuance of Definitive Notes under this Indenture. Then, upon surrender of the Global Notes by the Depository or on behalf of the Depository by its nominee or the Note Custodian,
the Company shall execute, and the Trustee shall, upon receipt of an authentication order in accordance with Section 2.2, authenticate and deliver, Definitive Notes to the Persons that the Depository and, if applicable, its nominee
identify as being the owners of the respective beneficial interests in the Global Notes, in an aggregate principal amount equal to the principal amount of the Global Notes in exchange for such Global Notes.

  

 23 

 
Neither the Company nor the Trustee will be liable for any delay by the Holder of a Global Note or the Depository or any Agent Member in identifying the beneficial owners of the Notes, and the
Company and the Trustee may rely on, and will be protected in relying on, instructions from, or pursuant to proxies or similar instruments granted by, the Holder of a Global Note or the Depository for all such purposes. 
 (iii) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in Global Notes have been exchanged
for Definitive Notes, redeemed, repurchased or canceled, all Global Notes shall be surrendered to or retained and cancelled by the Trustee in accordance with Section 2.11. At any time prior to such cancellation, if any beneficial
interest in a Global Note is redeemed, repurchased or cancelled, the principal amount of Notes represented by such Global Note shall be reduced accordingly by adjustments made on the records of the Trustee and the Depository and further reflected by
an endorsement made on a schedule to such Global Note by the Trustee or the Note Custodian, at the direction of the Trustee, to reflect such reduction. 
  

	SECTION 2.7	REPLACEMENT NOTES. 

 If any mutilated Note is surrendered to the Trustee or the Company, and the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, the Company shall issue and the
Trustee shall authenticate a replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Company, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company
to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The Company may charge for its expenses in replacing a Note. 
 Every replacement Note is an additional obligation of the Company and shall be entitled to all of the benefits of this Indenture equally and
proportionately with all other Notes duly issued hereunder. 
  

	SECTION 2.8	OUTSTANDING NOTES. 

 The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those redeemed, those repurchased pursuant to
Section 3.9, 4.11 or 4.17, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding. Except as set forth in
Section 2.9, a Note does not cease to be outstanding because the Company, any of the Subsidiary Guarantors or any Affiliate of the Company or any of the Subsidiary Guarantors holds the Note. 
 If a Note is replaced pursuant to Section 2.7, it ceases to be outstanding unless the Trustee receives proof satisfactory to it
that the replaced Note is held by a bona fide purchaser. 
 If the principal amount of any Note is considered paid under
Section 4.1 and the Paying Agent is not prohibited from paying such money to the Holders on the date due for the payment of such money, it ceases to be outstanding and interest on it ceases to accrue. 
 If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) holds, on a redemption date or maturity date,
money sufficient to pay Notes payable on that date, then on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to accrue interest. 
  

 24 

	SECTION 2.9	TREASURY NOTES. 

 In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company, any of the Subsidiary Guarantors or any
Affiliate of the Company or any of the Subsidiary Guarantors, shall be considered as though not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only
Notes as to which either (i) a Responsible Officer actually knows are so owned, or (ii) written notice of such ownership has been given to the Trustee by the Company, the Depository or the Registrar, shall be so disregarded. 
  

	SECTION 2.10	TEMPORARY NOTES. 

 Until definitive Notes are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Notes upon a written order of the Company signed by two Officers thereof. Temporary
Notes shall be substantially in the form of Global Notes or Definitive Notes, as applicable, but may have variations that the Company considers appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee. Without
unreasonable delay, the Company shall prepare and the Trustee shall authenticate Definitive Notes or the Global Note, as applicable, in exchange for temporary Notes. 
 Holders of temporary Notes shall be entitled to all of the benefits of this Indenture. 
  

	SECTION 2.11	CANCELLATION. 

 The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent 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, redemption, repurchase, replacement or cancellation and shall destroy (subject to record retention requirements of the Exchange Act) such cancelled Notes. The
Trustee shall provide a certificate of destruction to the Company from time to time, at the written request of the Company. The Company may not issue new Notes to replace Notes that it has redeemed, repurchased, paid or that have been delivered to
the Trustee for cancellation. If the Company or any Subsidiary Guarantor shall acquire any of the Notes (other than pursuant to Section 3.9, 4.11 or 4.17), such acquisition shall not operate as a redemption, repurchase or satisfaction of
the Indebtedness represented by such Notes unless and until the same are surrendered to the Trustee for cancellation pursuant to this Section 2.11. 
  

	SECTION 2.12	DEFAULTED INTEREST. 

 If the Company defaults in a payment of interest on the Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the
Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.1. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on
each Note and the date of the proposed payment. The Company shall fix or cause to be fixed each such special record date and payment date, provided that no such special record date shall be less than 10 days prior to the related payment date for
such defaulted interest. At least 15 days before the special record date, the Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed to Holders a notice that
states the special record date, the related payment date and the amount of such interest to be paid. 
  

 25 

	SECTION 2.13	CUSIP NUMBERS. 

 The Company in issuing the Notes may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use CUSIP numbers in notices of redemption or repurchase (as applicable) as a
convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption or repurchase (as applicable)
and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption or repurchase (as applicable) shall not be affected by any defect in or omission of such numbers. The Company shall promptly
notify the Trustee of any change in the CUSIP numbers. 
 ARTICLE 3 
 REDEMPTION AND PREPAYMENT 
  

	SECTION 3.1	NOTICES TO TRUSTEE. 

 If the Company elects to redeem Notes pursuant to the optional redemption provisions of Section 3.7, it shall furnish to the Trustee, at least 45 days but not more than 60 days before a
redemption date, an Officers’ Certificate setting forth (i) the clause of this Indenture pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal amount of Notes to be redeemed and (iv) the
redemption price. 
  

	SECTION 3.2	SELECTION OF NOTES TO BE REDEEMED. 

 If less than all of the Notes are to be redeemed at any time, the Trustee shall select the Notes to be redeemed among the Holders of the
Notes in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if the Notes are not so listed, on a pro rata basis, by lot or in accordance with any other method the Trustee
considers fair and appropriate; provided that no Note of $1,000 or less will be redeemed in part. In the event that less than all of the Notes are to be redeemed by lot, the particular Notes to be redeemed shall be selected, unless otherwise
provided herein, not less than 30 nor more than 60 days prior to the redemption date by the Trustee from the outstanding Notes not previously called for redemption. 
 The Trustee shall promptly notify the Company in writing of the Notes selected for redemption and, in the case of any Note selected for partial redemption, the principal amount thereof to be redeemed.
Notes and portions of Notes selected shall be in amounts of $1,000 or whole multiples of $1,000; except that if all of the Notes of a Holder are to be redeemed, the entire outstanding amount of Notes held by such Holder shall be redeemed. Except as
provided in the preceding sentence, provisions of this Indenture that apply to Notes called for redemption also apply to portions of Notes called for redemption. 
 The provisions of the two preceding paragraphs of this Section 3.2 shall not apply with respect to any redemption affecting only a Global Note, whether such Global Note is to be redeemed in
whole or in part. In case of any such redemption in part, the unredeemed portion of the principal amount of the Global Note shall be in an authorized denomination. 
  

 26 

	SECTION 3.3	NOTICE OF REDEMPTION. 

 Subject to the provisions of Section 3.9, at least 30 days but not more than 60 days before a redemption date, the Company shall mail or cause to be mailed, by first class mail, a notice of
redemption to each Holder whose Notes are to be redeemed at its registered address. Failure to receive such notice or any defect in the notice to any such Holder shall not affect the validity of the proceedings for the redemption of any other Notes
or portion thereof. 
 The notice shall identify the Notes to be redeemed (including CUSIP number) and shall state: 

(i) the redemption date; 
 (ii) the redemption price; 
 (iii) if any Note is being redeemed in
part, the portion of the principal amount of such Note to be redeemed and that, after the redemption date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion shall be issued upon cancellation of the
original Note; 
 (iv) the name and address of the Paying Agent; 
 (v) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price; 
 (vi) that, unless the Company defaults in making such redemption payment, interest on Notes called for redemption ceases to
accrue on and after the redemption date; 
 (vii) the paragraph of the Notes and/or Section of this Indenture
pursuant to which the Notes called for redemption are being redeemed; and 
 (viii) that no representation is
made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Notes. 
 If any of
the Notes to be redeemed is in the form of a Global Note, then the Company shall modify such notice to the extent necessary to accord with the procedures of the Depository applicable to redemption. 
 At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at its expense; provided,
however, that the Company shall have delivered to the Trustee, at least 45 days (unless the Trustee and the Company agree to a shorter period) prior to the redemption date, an Officers’ Certificate requesting that the Trustee give such
notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 
  

	SECTION 3.4	EFFECT OF NOTICE OF REDEMPTION. 

 Once notice of redemption is mailed in accordance with Section 3.3, Notes called for redemption become irrevocably due and
payable on the redemption date at the redemption price. A notice of redemption may not be conditional. 
  

 27 

	SECTION 3.5	DEPOSIT OF REDEMPTION PRICE. 

 On or prior to the redemption date, the Company shall deposit with the Trustee or with the Paying Agent (or, if the Company is acting as its
own Paying Agent, segregate and hold in trust as provided in Section 2.4) money sufficient to pay the redemption price of and accrued interest on all Notes to be redeemed on that date. The Trustee or the Paying Agent shall promptly
return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption price of, and accrued interest on, all Notes to be redeemed. 
 If the Company complies with the provisions of the preceding paragraph, on and after the redemption date, interest shall cease to accrue on
the Notes or the portions of Notes called for redemption. If a Note is redeemed on or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest shall be paid to the Person in whose name
such Note was registered at the close of business on such record date. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the Company to comply with the preceding paragraph, interest shall
be paid on the unpaid principal, from the redemption date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Note and in Section 4.1.

  

	SECTION 3.6	NOTES REDEEMED IN PART. 

 Upon surrender of a Note that is redeemed in part, the Company shall issue and the Trustee shall authenticate for the Holder at the expense
of the Company a new Note equal in principal amount to the unredeemed portion of the Note surrendered. 
  

	SECTION 3.7	OPTIONAL REDEMPTION. 

 (a) The Notes may be redeemed, in whole or in part, at any time prior to                     ,
20    , at the option of the Issuer 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 such Redemption Date, plus accrued and unpaid interest, if any, to but not including, the applicable Redemption Date. 
 (b) From and after                     ,
20    , the Notes will be subject to redemption at the option of the Company, in whole or in part, upon not less than 30 nor more than 60 days’ written notice, at the Redemption Prices (expressed as percentages of principal
amount) set forth below, plus accrued and unpaid interest thereon, if any, to the applicable redemption date, if redeemed during the 12-month period beginning on
                     of the years indicated below: 
  

				
	 Year
	  	Percentage	 
		  	    	% 
		  	    	% 
		  	    	% 
	          and thereafter, but not including, the Stated Maturity
	  	    	% 

 (c) Notwithstanding the foregoing, at any time on or prior to
                    , 20    , the Company may redeem up to an aggregate of
$             principal amount of Notes originally issued, in

  

 28 

 
cash, at a redemption price of             % of the principal amount thereof, together with accrued and unpaid interest thereon to the
redemption date, with the net proceeds of one or more Public Equity Offerings; provided that (i) at least $             aggregate principal amount of the Original Notes
originally issued remains outstanding immediately after the occurrence of each such redemption and (ii) each such redemption shall occur within 60 days of the date of the closing of each such Public Equity Offering. 
 (d) Any redemption pursuant to this Section 3.7 shall be made pursuant to the provisions of Sections 3.1 through
3.6. 
  

	SECTION 3.8	MANDATORY REDEMPTION. 

 Except as set forth under Sections 4.11 and 4.17, the Company shall not be required to make mandatory redemption payments or sinking fund payments with respect to the Notes. 
  

	SECTION 3.9	OFFER TO PURCHASE BY APPLICATION OF EXCESS
CASH. 

 (a) In the event that, pursuant to Section 4.11, the Company shall be
required to commence an Excess Cash Offer, it shall follow the procedures specified below. 
 (i) The Excess Cash Offer shall be
made to all Holders and shall remain open for a period of at least 20 Business Days following its commencement and no longer than 30 Business Days thereafter, except to the extent that a longer period is required by applicable law (the
“Offer Period”). 
 (ii) If the Excess Cash Purchase Date is on or after an interest record
date and on or before the related interest payment date, any accrued and unpaid interest thereon, if any, shall be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest shall
be payable to Holders who tender Notes pursuant to the Excess Cash Offer. 
 (iii) Within 10 days following any Excess Cash Offer
Trigger Date, the Company shall send, by first class mail, a notice to each of the Holders at such Holder’s registered address, with a copy to the Trustee. The notice, which shall govern the terms of the Excess Cash Offer, shall contain all
instructions and materials necessary to enable such Holders to tender Notes pursuant to the Excess Cash Offer, and shall state: 
 (A) that the Excess Cash Offer Trigger Date has occurred pursuant to Section 4.11 and that the Company is offering to purchase Notes in the aggregate principal amount of the Excess Cash Offer Amount, in cash, at the
corresponding Excess Cash Offer Price, together with accrued and unpaid interest thereon, if any, to the Excess Cash Purchase Date, which shall be a Business Day that is not earlier than 30 days nor later than 60 days from the date such notice is
mailed; 
 (B) the amount of accrued and unpaid interest, if any, as of the Excess Cash Offer Purchase Date; 
 (C) that any Note subject to the Excess Cash Offer not tendered shall continue to accrue interest; 
 (D) that, unless the Company defaults in the payment of the purchase price for the Notes payable pursuant to the Excess Cash Offer, any such
Notes accepted for payment

  

 29 

 
pursuant to the Excess Cash Offer shall cease to accrue interest after the Excess Cash Offer Purchase Date; 
 (E) that Holders electing to have a Note purchased pursuant to an Excess Cash Offer may only elect to have all of such Note purchased (subject to the provisions of Section 3.9(a)(iii)(H)) and
may not elect to have only a portion of such Note purchased; 
 (F) that Holders electing to have a Note purchased pursuant to
any Excess Cash Offer shall be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed to the Company or a Paying Agent at the address specified in the notice at
least three Business Days before the Excess Cash Purchase Date; 
 (G) any Holder shall be entitled to withdraw its election if
the Company or the Paying Agent, as the case may be, receives, not later than the expiration of the Offer Period, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note the Holder delivered for
purchase and a statement that such Holder is withdrawing its election to have such Note purchased; 
 (H) that, if the aggregate
principal amount of Notes surrendered by Holders exceeds the Excess Cash Offer Amount or less than all of the Notes tendered pursuant to the Excess Cash Offer are accepted for payment by the Company for any reason consistent with this Indenture, the
Trustee shall select the Notes to be purchased in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or, if the Notes are not so listed, on a pro rata basis, by lot or by such
method as the Trustee deems fair and appropriate; provided that Notes accepted for payment in part will only be purchased in integral multiples of $1,000; and 
 (I) that Holders whose Notes were purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered. 
 If any of the Notes subject to an Excess Cash Offer is in the form of a Global Note, then the Company shall modify such notice to the extent
necessary to accord with the procedures of the Depository applicable to repurchases. 
 (b) On or before an Excess Cash Purchase
Date, the Company shall comply with each of the matters set forth in clauses (i) through (iii) of Section 4.11(f). The Paying Agent shall promptly mail to Holders of Notes so accepted payment in an amount equal to the
Excess Cash Offer Price, plus accrued and unpaid interest thereon to the Excess Cash Purchase Date. The Trustee shall promptly cancel all Notes accepted by the Company pursuant to the Excess Cash Offer and authenticate and mail to the Holders of
Notes so accepted new Notes equal to the principal amount of any unpurchased portion of the Notes surrendered. Any Notes not so accepted shall be promptly mailed by the Company to the Holders thereof. 
 (c) Other than as specifically provided in this Section 3.9, any purchase pursuant to this Section 3.9 shall be made
pursuant to the provisions of Sections 3.1 through 3.6. 
  

 30 

 ARTICLE 4 
 COVENANTS 
  

	SECTION 4.1	PAYMENT OF NOTES. 

 The Company shall pay or cause to be paid the principal of, premium, if any, and interest on the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest shall
be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary Guarantor, holds as of 11:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available funds and designated for
and sufficient to pay all principal, premium, if any, and interest then due. 
 The Company shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, at the rate that is 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful; it shall pay
interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the same rate to the extent lawful. 
  

	SECTION 4.2	MAINTENANCE OF OFFICE OR AGENCY. 

 The Company shall maintain in the Borough of Manhattan, the City of New York, an office or agency (which may be an office of the Trustee or
an affiliate of the Trustee, Registrar or co-registrar) where Notes may be presented for payment, surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of the Notes and this
Indenture may be served. The Company 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 Company 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. 
 The Company may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for
any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in the Borough
of Manhattan, the City of New York for such purposes. The Company 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. 
 The Company hereby designates the Corporate Trust Office of the Trustee as one such office or agency of the Company in accordance with
Section 2.3. 
  

 31 

	SECTION 4.3	REPORTS. 

 (a) Whether or not required by the rules and regulations of the Commission, so long as any Notes are outstanding, the Company shall furnish to the Trustee and the Holders of Notes (i) either the actual Forms 10-Q and 10-K filed
with the Commission within 15 days following the filing thereof, or 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 if the Company were required to
file such Forms, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” that describes the consolidated financial condition and results of operations of the Company and, with respect to the
annual information only, a report thereon by the Company’s certified independent accountants, in each case, within 15 days following the date such filing would be required to be filed with the Commission, and (ii) either any actual
Form 8-K filed with the Commission within 15 days following the filing thereof, or all information that would be required to be contained in a filing with the Commission on Form 8-K if the Company were required to file such Form, in each
case, within 15 days following the date such filing would be required to be filed with the Commission. In addition, whether or not required by the rules and regulations of the Commission, the Company shall file a copy of all such information and
reports with the Commission for public availability (unless the Commission will not accept such a filing) and make such information available to securities analysts and prospective investors upon request. The Company shall at all times comply with
TIA § 314(a). 
 (b) 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 Company’ compliance with any of the covenants hereunder (as
to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
  

	SECTION 4.4	COMPLIANCE CERTIFICATE. 

 (a) The Company shall deliver to the Trustee, within ninety (90) days after the end of its fiscal year, an Officers’ Certificate stating that a review of the activities of the Company and its
Restricted Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers (at least one of whom is the principal executive officer, principal financial officer or principal accounting officer) with a view
to determining whether they have kept, observed, performed and fulfilled their obligations under this Indenture and the other Indenture Documents and further stating, as to each such Officer signing such certificate, that to such Officer’s
actual knowledge the Company and its Restricted Subsidiaries during such preceding fiscal year have kept, observed, performed and fulfilled each and every condition and covenant under this Indenture and the other Indenture Documents in all material
respects and at the date of such certificate there is no Default or Event of Default that has occurred and is continuing; provided, however, that if such Officer has actual knowledge of a Default or Event of Default, such certificate
shall describe the Default or Event of Default and its status with particularity. 
 (b) The Company shall, so long as any of
the Notes are outstanding, deliver to the Trustee, forthwith upon any Officer becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or
proposes to take with respect thereto. 
  

 32 

	SECTION 4.5	TAXES; CORPORATE EXISTENCE. 

 (a) The Company shall pay, and shall cause each of its Restricted Subsidiaries to pay, prior to delinquency, all material taxes, assessments,
and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes. 
 (b) Subject to Article 5 hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full
force and effect its corporate existence, and subject to Article 10 hereof, the corporate, partnership or other existence of each of its Restricted Subsidiaries, in accordance with the respective organizational documents (as the same may
be amended from time to time) of the Company or any such Restricted Subsidiary; provided, however, that the Company shall not be required to preserve the existence of any of its Restricted Subsidiaries, if the Board of Directors of the
Company shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Restricted Subsidiaries, taken as a whole, and that the loss thereof is not, and foreseeably will not be, adverse to
the payment and performance of the obligations under the Notes and otherwise under this Indenture. 
  

	SECTION 4.6	STAY, EXTENSION AND USURY LAWS. 

 The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company (to the extent that
it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it shall not, by resort to any such law, 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 has been enacted. 
  

	SECTION 4.7	LIMITATION ON INCURRENCES OF ADDITIONAL INDEBTEDNESS AND
ISSUANCES OF DISQUALIFIED CAPITAL STOCK. 

 (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness or issue any Disqualified Capital Stock, except that the Company or a Subsidiary Guarantor may Incur
Indebtedness and the Company may issue shares of Disqualified Capital Stock if, on a pro forma basis, after giving effect to such Incurrence or issuance, as the case may be, and the application of the proceeds therefrom, all of the following
tests have been satisfied: 
 (i) the Consolidated Fixed Charge Coverage Ratio for the Company’s Reference Period for which
internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified Capital Stock is issued would have been at least          to
1.0; 
 (ii) no Default or Event of Default shall have occurred and be continuing at the time such additional Indebtedness is
Incurred or such Disqualified Capital Stock is issued or would occur as the result of such Incurrence of such additional Indebtedness or the issuance of such Disqualified Capital Stock; and 
  

 33 

 (iii) the Company’s Adjusted Consolidated Net Tangible Assets as of the last day of the
applicable Reference Period are equal to or greater than         % of the consolidated Indebtedness of the Company and the Subsidiary Guarantors. 
 (b) Notwithstanding the foregoing, if no Default or Event of Default shall have occurred and be continuing at the time or as a consequence
of the Incurrence of such Indebtedness, the Company and any Subsidiary Guarantor may Incur Permitted Indebtedness. 
 (c) Any
Indebtedness Incurred or Disqualified Capital Stock issued by any Person that is not a Subsidiary of the Company or a Restricted Subsidiary of the Company, which Indebtedness or Disqualified Capital Stock is outstanding at the time such Person
becomes a Restricted Subsidiary of, or is merged into, or consolidated with the Company or such Restricted Subsidiary, as the case may be, shall be deemed to have been Incurred or issued, as the case may be, at the time such Person becomes a
Restricted Subsidiary of, or is merged into, or consolidated with the Company or a Subsidiary Guarantor; provided however, any Indebtedness of Carlton and its Subsidiaries outstanding on the Issue Date shall be deemed Indebtedness of the
Company and its Subsidiaries outstanding on the Issue Date. 
  

	SECTION 4.8	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 on, or make any other distribution to holders of, any shares of Capital Stock of the Company or any Restricted Subsidiary of the Company (other than dividends or distributions payable solely in shares of Qualified Capital Stock of the
Company or any Restricted Subsidiary of the Company or dividends or distributions payable to the Company or any Wholly Owned Subsidiary Guarantor or warrants, rights or options to acquire Qualified Capital Stock of the Company or any Restricted
Subsidiary of the Company), (ii) purchase, redeem or otherwise acquire or retire for value any such shares of Capital Stock of the Company or any Affiliate (other than any Capital Stock owned by the Company or any of its Wholly Owned Subsidiary
Guarantors), or any options, warrants or other rights to acquire such Capital Stock, (iii) make any principal payment on or repurchase, redeem, defease or otherwise acquire or retire for value any Subordinated Indebtedness, prior to any
scheduled principal payment, scheduled sinking fund payment or maturity, or (iv) make any Restricted Investment (such payments or other actions described in clauses (i) through (iv) being collectively referred to as a
“Restricted Payment”), unless at the time of and after giving effect to the proposed Restricted Payment (the amount of any such Restricted Payment, if other than cash, shall be the amount determined by the Board
of Directors of the Company, whose determination shall be conclusive and evidenced by a Board Resolution, a copy of which Board Resolution shall be delivered to the Trustee), 
 (1) no Default or Event of Default shall have occurred and be continuing, 
 (2) the Company could Incur $1.00 of additional Indebtedness (other than Permitted Indebtedness) in accordance with the provisions of
Section 4.7(a), and 
 (3) the aggregate amount of all Restricted Payments declared or made after the Issue Date
shall not exceed the sum (without duplication) of the following: 
  

	 	(A)	50% of the Adjusted Consolidated Net Income of the Company accrued on a cumulative basis during the period commencing with the first full quarter after the Issue Date
and ending on the last day of the Company’s last fiscal quarter ending prior to the date of such proposed Restricted Payment (or if Adjusted Consolidated Net Income is a loss, minus 100% of such loss), plus

  

 34 

	 	(B)	the aggregate Net Proceeds received after the Issue Date by the Company from the issuance or sale (other than with respect to the Offering and other than to any
Restricted Subsidiary of the Company) of shares of Qualified Capital Stock of the Company or any options, warrants or rights to purchase such shares of Qualified Capital Stock of the Company, plus  

  

	 	(C)	the aggregate Net Proceeds received after the Issue Date by the Company (other than from any Restricted Subsidiary of the Company) upon the exercise of any options,
warrants or rights to purchase shares of Qualified Capital Stock of the Company, plus  

  

	 	(D)	the aggregate Net Proceeds received after the Issue Date by the Company from the issuance or sale (other than to any Restricted Subsidiary of the Company) of
Indebtedness or shares of Disqualified Capital Stock that have been converted into or exchanged for Qualified Capital Stock of the Company, together with the aggregate cash received by the Company at the time of such conversion or exchange, minus
 

  

	 	(E)	the amount of any write-downs or writeoffs, other negative revaluations, and other negative extraordinary charges not otherwise reflected in Adjusted Consolidated Net
Income of the Company during such period. 

 (b) Notwithstanding Section 4.8(a), the Company and the
Subsidiary Guarantors may take the following actions so long as (in the case of clauses (2) and (3) immediately below) no Default or Event of Default shall have occurred and be continuing: 
 (1) the payment of any dividend on Capital Stock of the Company or any Subsidiary Guarantor within 60 days after the date of declaration
thereof, if at such declaration date such declaration complied with the provisions of Section 4.8(a) above; 
 (2)
the repurchase, redemption or other acquisition or retirement of any shares of any class of Capital Stock of the Company or any Subsidiary Guarantor, in exchange for, or out of the aggregate Net Proceeds from, a substantially concurrent issue and
sale (other than to a Subsidiary Guarantor) of shares of Qualified Capital Stock of the Company; and 
 (3) the repurchase,
redemption, repayment, defeasance or other acquisition or retirement for value of any Subordinated Indebtedness in exchange for, or out of the aggregate Net Proceeds from, a substantially concurrent issue and sale (other than to a Subsidiary
Guarantor) of (i) Subordinated Indebtedness (provided such Indebtedness is on terms no less favorable to the Holders of the Notes than the terms of the Subordinated Indebtedness being redeemed) or (ii) shares of Qualified Capital Stock of
the Company. 
 The actions described in clause (1) of this Section 4.8(b) shall be Restricted Payments
that shall be permitted to be made in accordance with this Section 4.8(b) but shall reduce the amount that would otherwise be available for Restricted Payments under clause (3) of Section 4.8(a), provided
that any dividend paid pursuant to clause (1) of this Section 4.8(b) shall reduce the amount that would otherwise be available under clause (3) of Section 4.8(a) when declared, but not also when
subsequently paid pursuant to clause (1) of this Section 4.8(b), and provided that any Net Proceeds received under clauses (2) or (3)(ii) of this Section 4.8(b) shall not be included in
subclauses (B) or (C) of clause (3) of Section 4.8(a). 
  

 35 

	SECTION 4.9	LIMITATION ON DIVIDENDS AND OTHER PAYMENT RESTRICTIONS
AFFECTING RESTRICTED SUBSIDIARIES OF THE COMPANY. 

 The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, or permit or suffer to exist or become effective any consensual encumbrance or
restriction on the ability of any Restricted Subsidiary of the Company to (i) pay dividends or make other distributions on its Capital Stock to the Company or any other Restricted Subsidiary of the Company, (ii) make loans or advances or
pay any Indebtedness or other obligations owed to the Company or to any other Restricted Subsidiary of the Company, or (iii) transfer any of its properties or assets to the Company or to any other Restricted Subsidiary of the Company, except
encumbrances and restrictions existing under (a) this Indenture, any Permitted Bank Credit Facility as in effect on the Issue Date and any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or
refinancings thereof, provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are no more restrictive with respect to such dividend and other payment or transfer
restrictions than those contained in the Permitted Bank Credit Facility as in effect on the Issue Date and (b) any agreement of a Person acquired by the Company or a Restricted Subsidiary of the Company, which restrictions existed at the time
of acquisition, were not put in place in anticipation of such acquisition, and are not applicable to any Person or property, other than the Person or any property of the Person so acquired. 
  

 36 

	SECTION 4.10	LIMITATION ON TRANSACTIONS WITH AFFILIATES. 

 The Company shall not, and shall not permit any of its Restricted Subsidiaries to, enter directly or indirectly into, or permit to exist, any
transaction or series of related transactions with or for the benefit of any Affiliate except for transactions made in good faith, the terms of which are fair and reasonable to the Company or such Restricted Subsidiary, as the case may be, and are
at least as favorable as the terms which could be obtained by the Company or such Restricted Subsidiary, as the case may be, in a comparable transaction made on an arm’s length basis with Persons who are not Affiliates and the Company delivers
to the Trustee (i) with respect to any transaction or series of related transactions with an Affiliate involving aggregate consideration in excess of $5,000,000, an Officers’ Certificate certifying that such transaction or transactions
comply with this covenant, (ii) with respect to any transaction or series of related transactions with an Affiliate involving aggregate consideration in excess of $10,000,000, a Board Resolution of the Board of Directors of the Company set
forth in an Officers’ Certificate certifying that such transaction or transactions comply with this covenant and that such transaction or transactions have been approved in good faith by a majority of the Disinterested Directors of such Board
of Directors (which Board Resolution shall be conclusive evidence of compliance with this provision), provided that if there is not a majority of Disinterested Directors able to approve such transaction, the Company shall also deliver an
opinion as to the fairness, from a financial point of view, to the Company or such Restricted Subsidiary of such transaction or transactions issued by an investment banking firm of recognized national standing, which opinion shall be conclusive
evidence of compliance with this provision, and (iii) with respect to any transaction or series of related transactions with an Affiliate involving aggregate consideration in excess of $20,000,000, a Board Resolution of the Board of Directors
of the Company set forth in an Officers’ Certificate as described in subclause (ii) immediately above and an opinion as to the fairness, from a financial point of view, to the Company or such Restricted Subsidiary of such
transaction or transactions issued by an investment banking firm of recognized national standing, which Board Resolution and opinion shall be conclusive evidence of compliance with this provision; provided, however, that this covenant will
not restrict (a) transactions between the Company and any Subsidiary Guarantor or transactions between Subsidiary Guarantors, (b) Restricted Payments permitted by the provisions of Section 4.8, (c) any employee
compensation arrangement by the Company or any of its Restricted Subsidiaries which has been approved by a majority of the Company’s Disinterested Directors and found in good faith by such directors to be in the best interests of the Company or
such Restricted Subsidiary, as the case may be, and (d) customary directors’ fees and indemnification and similar arrangements. 
 Notwithstanding the foregoing, the Company will not and will not permit any of its Subsidiaries to, directly or indirectly, remunerate or be or become directly or indirectly liable or obligated for the
remuneration of, director’s or similar fees to any person solely by reason of serving as a director of the Board of Directors of any of them in an amount for any fiscal year of the Company which, when aggregated with all other such fees paid or
payable to such person by the Company and its Subsidiaries (as applicable) during such period solely by reason of serving as a director of all or any of them, exceeds $150,000, regardless of the number of entities for which such person served as a
director; and for purposes of computing the $150,000 limitation in such annual fees, the fair market value of all property transferred and services provided to such person, without payment therefor, in cash, by such person at the same fair market
value of such property or services (as applicable), or other than in exchange for, or incidental to, the performance of services to the Company or any Subsidiary by such person as an employee of any of them, will be added to all cash payments of
such fees; provided that the value of Capital Stock issued to a director as a director’s fee or similar fee shall not be subject to such $150,000 limitation. 
  

 37 

	SECTION 4.11	LIMITATION ON ASSET SALES. 

 (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless (i) the Company
or such Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Sale at least equal to the fair market value (as determined in good faith by a Board Resolution of the Board of Directors of the Company set forth in
an Officers’ Certificate delivered to the Trustee, which determination shall be conclusive evidence of compliance with this provision) of the assets or Capital Stock being sold or issued or otherwise disposed of, and (ii) at least 70% of
the value of the consideration for such Asset Sale consists of cash, Cash Equivalents or Exchange Assets or any combination thereof; provided that the amount of any liabilities (as shown on the Company’s or such Restricted
Subsidiary’s most recent balance sheet) of the Company or such Restricted Subsidiary (other than contingent liabilities and liabilities that are Subordinated Indebtedness or otherwise by their terms subordinated to the Notes or the Subsidiary
Guarantees) that are assumed by the transferee of such assets pursuant to a customary novation agreement that releases the Company and such Restricted Subsidiary from further liability shall also be deemed to be cash for purposes of this provision.

 (b) Within 365 days after the receipt of any Net Cash Proceeds from an Asset Sale, the Company or such Restricted Subsidiary
may apply such Net Cash Proceeds, at its option, in any order or combination (i) to repay and permanently reduce Indebtedness outstanding under any Permitted Bank Credit Facility to which it or any Subsidiary Guarantor is a party, (ii) to
make Capital Expenditures or (iii) to make other acquisitions of assets to be used in the Company’s and the Subsidiary Guarantors’ Oil and Gas Business. Pending the final application of any such Net Cash Proceeds, the Company or such
Restricted Subsidiary may temporarily invest such Net Cash Proceeds in any manner that is not prohibited by the terms of this Indenture or temporarily reduce outstanding revolving credit borrowings under Permitted Bank Credit Facilities. Any Net
Cash Proceeds from Asset Sales that are not applied as provided in clauses (i) through (iii) of the first sentence of this Section 4.11(b) will (after expiration of the relevant periods) be deemed to constitute
“Excess Cash”. 
 (c) When the amount of Excess Cash exceeds $25,000,000 (the date of such occurrence,
the “Excess Cash Offer Trigger Date”), the Company will make an irrevocable, unconditional offer (an “Excess Cash Offer”) to the Holders to purchase the maximum amount of Notes which could be acquired
by application of such amount of Excess Cash as described herein (the “Excess Cash Offer Amount”), in cash at the purchase price equal to 100% of the principal amount thereof (the “Excess Cash Offer
Price”), together with accrued and unpaid interest to the Excess Cash Purchase Date. Such Excess Cash Offer shall be effected pursuant to the provisions of Section 3.9 and this Section 4.11. 
 (d) Notice of an Excess Cash Offer will be sent at least 30 and not more than 60 days prior to the date on which the Notes tendered shall be
accepted (the “Excess Cash Purchase Date”), by first-class mail, by the Company to each Holder at the address on the Note Register, with a copy to the Trustee. Such notice will set forth the Excess Cash Purchase Date and the
Excess Cash Offer shall remain open for at least 20 Business Days and close no later than 30 Business Days after the date such notice is given. The notice to the Holders will contain all information, instructions and materials required by applicable
law or otherwise material to such Holders’ decision to tender Notes pursuant to the Excess Cash Offer. 
 (e) To the extent
applicable and if required by law, the Company will comply with Section 14 of the Exchange Act, the provisions of Regulation 14E and any other tender offer rules under the Exchange Act and other securities laws, rules and regulations which
may then be applicable to any Excess Cash Offer by the Company; and, if such laws, rules and regulations require or prohibit any action inconsistent with the

  

 38 

 
foregoing, compliance by the Company with such laws, rules and regulations will not constitute a breach of its obligations with respect to the foregoing. 
 (f) On or before an Excess Cash Purchase Date, the Company shall (i) accept for payment Notes or portions thereof properly tendered
pursuant to the Excess Cash Offer, (ii) deposit with the Paying Agent money sufficient to pay the Excess Cash Offer Price, plus accrued and unpaid interest thereon to the Excess Cash Purchase Date of all Notes or portions thereof so accepted,
and (iii) deliver to the Trustee all Notes so accepted together with an Officers’ Certificate listing the Notes or portions thereof being purchased by the Company. The Company will publicly announce the results of the Excess Cash Offer on
or as soon as practicable after the Excess Cash Purchase Date. 
 (g) If the amount required to acquire all Notes tendered by
Holders pursuant to the Excess Cash Offer (the “Excess Cash Acceptance Amount”) shall be less than the aggregate Excess Cash Offer Amount, then the excess of the Excess Cash Offer Amount over the Excess Cash Acceptance Amount
may be used by the Company or any Subsidiary Guarantor for any of their respective general corporate purposes, provided that no such purpose is prohibited or restricted by this Indenture. Upon consummation of any Excess Cash Offer made in
accordance with the terms of this Indenture, the amount of Excess Cash will be reduced to zero. 
  

	SECTION 4.12	LIMITATION ON LIENS. 

 The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, incur or suffer to exist any Lien upon any of their respective properties or assets, whether now owned or
acquired after the Issue Date, or any income, profits or proceeds therefrom, other than Permitted Liens. 
  

	SECTION 4.13	LIMITATION ON LINE OF BUSINESS. 

 The Company shall not engage, and shall not permit any of its Restricted Subsidiaries to engage, in any line of business other than the Oil
and Gas Business. The Company will not and will not permit any of its Restricted Subsidiaries to, directly or indirectly, remit or pay or become obligated to remit or pay any funds, or transfer or become obligated to transfer any property (whether
by absolute remittance, payment or transfer or by collateral remittance, payment of transfer), which in the aggregate (inclusive of the then fair market value of any such transferred property) exceeds $10,000,000, as a non-refundable deposit or
similar non-refundable payment made incidental, related or pursuant to a transaction or series of related transactions for the acquisition (whether by merger, consolidation, acquisition or otherwise) of any Person (or interest therein) or property,
or to serve as payment or security for the payment of any matters related to, or to be performed or obligations, indemnities or similar undertakings agreed to be performed or undertaken by, any of them, which are incidental, related or pursuant to
such transaction or transactions; and for purposes of determining the fair market value of any affected property, the Company shall deliver to the Trustee such Board Resolution and Officers’ Certificate regarding such valuation as if it was
subject to the determination to be made pursuant to clause (ii) of the first paragraph of Section 4.10. 
  

 39 

	SECTION 4.14	DESIGNATION OF UNRESTRICTED SUBSIDIARIES. 

 (a) The Board of Directors of the Company may designate any Subsidiary of the Company to be an Unrestricted Subsidiary of the Company if such
designation would not cause a Default or an Event of Default and following such designation, the Company could Incur $1.00 of additional Indebtedness (other than Permitted Indebtedness) pursuant to Section 4.7(a). For purposes of making
such determination, all outstanding Investments by the Company and its Restricted Subsidiaries in the Subsidiary so designated which have not been repaid in cash will be deemed to be Restricted Payments at the time of such designation and will
reduce the amount available for Restricted Payments under clause (3) of Section 4.8(a). All such outstanding Investments will be deemed to constitute Restricted Investments in an amount equal to the greater of the fair
market value or book value of such Investments at the time of such designation. Such designation will only be permitted if such Restricted Payment would be permitted at such time and if such Subsidiary otherwise meets the definition of an
Unrestricted Subsidiary. In addition, the definition of “Unrestricted Subsidiary” set forth in Section 1.1 describes additional requirements that a Subsidiary of the Company must satisfy before it may be designated as an
Unrestricted Subsidiary of the Company by the Board of Directors of the Company. 
 (b) Neither the Company nor any Restricted
Subsidiary of the Company nor any Unrestricted Subsidiary of the Company may take any action or omit to take any action which would cause any requirement in the definition of “Unrestricted Subsidiary” set forth in Section 1.1
not to be at all times satisfied with respect to any Unrestricted Subsidiary of the Company, other than pursuant to a designation or redesignation (as applicable) as provided in Section 4.14(c). If, at any time subsequent to the
designation of a Person as an Unrestricted Subsidiary of the Company and prior to a corresponding redesignation as provided in Section 4.14(c), any requirement in the definition of “Unrestricted Subsidiary” set forth in
Section 1.1 is not met with respect to such Unrestricted Subsidiary, then such Unrestricted Subsidiary shall thereafter cease to be an Unrestricted Subsidiary of the Company for purposes of this Indenture, and any Indebtedness of such
Subsidiary shall be deemed Incurred as of such date. 
 (c) The Board of Directors of the Company may designate or redesignate
(as applicable) any Unrestricted Subsidiary of the Company as a Restricted Subsidiary of the Company; provided that, (i) if such Unrestricted Subsidiary has any Indebtedness outstanding or is otherwise liable for any Indebtedness or has
a negative Net Worth, then immediately after giving pro forma effect to such designation or redesignation, as applicable, the Company could Incur at least $1.00 of additional Indebtedness (other than Permitted Indebtedness) pursuant to the
provisions of Section 4.7(a) (assuming, for purposes of this calculation, that each dollar of negative Net Worth is equal to one dollar of Indebtedness), (ii) all Indebtedness of such Unrestricted Subsidiary shall be deemed to be
Incurred by a Restricted Subsidiary of the Company on the date such Unrestricted Subsidiary becomes a Restricted Subsidiary, and (iii) no Default or Event of Default would occur or be continuing after giving effect to such designation or
redesignation, as applicable. Any Subsidiary of an Unrestricted Subsidiary shall be an Unrestricted Subsidiary for purposes of this Indenture. 
  

 40 

	SECTION 4.15	LIMITATION ON THE SALE OR ISSUANCE OF CAPITAL
STOCK OF RESTRICTED SUBSIDIARIES OF THE COMPANY. 

 The Company shall not, directly or indirectly, sell or otherwise dispose of any shares of Capital Stock of any of its Restricted Subsidiaries and shall not permit any of its Restricted Subsidiaries,
directly or indirectly, to issue or sell or otherwise dispose of any of its Capital Stock except (i) to the Company or a Wholly Owned Subsidiary Guarantor, or (ii) if all shares of Capital Stock of such Restricted Subsidiary are sold or
otherwise disposed of. In connection with any sale or disposition of Capital Stock of any Restricted Subsidiary of the Company, the Company shall comply with the provisions of Section 4.11. 
  

	SECTION 4.16	OWNERSHIP AND RECOGNITION OF SUBSIDIARIES; FUTURE
GUARANTORS. 

 The Company shall at all times own, directly or indirectly, all of the Capital
Stock of each of its Restricted Subsidiaries, except for the redeemable preferred stock referred to in Section 4.8(b)(4), which preferred stock shall be fully and finally redeemed and discharged in the manner and at such dates as
provided in Section 4.8(b)(4) and 4.18. The Company and each Subsidiary of the Company recognize and agree that all Persons (other than an Unrestricted Subsidiary of the Company) now or hereafter becoming a Subsidiary of the Company
(whether by formation, acquisition or otherwise) shall be, and shall be recognized as, a Subsidiary Guarantor for all purposes of this Indenture. In furtherance (but not in limitation) of the foregoing, simultaneously with the acquisition (by
merger, consolidation, acquisition of assets, stock or properties or otherwise) or formation of a Person which, directly or indirectly, becomes a Subsidiary of the Company, or the occurrence of any other event, circumstance or transaction pursuant
to which, directly or indirectly, a Person becomes a Subsidiary of the Company (in each case, other than a Person then designated an Unrestricted Subsidiary of the Company in accordance with Section 4.14), the Company shall cause such
Person to become a Subsidiary Guarantor pursuant to Section 10.2. 
  

 41 

 ARTICLE 5 
 SUCCESSORS 
  

	SECTION 5.1	LIMITATION ON MERGER OR SALE OR CONSOLIDATION.

 The Company shall not consolidate with or merge with or into any other Person, or, directly or indirectly,
sell, lease, assign, transfer or convey all or substantially all of its assets (computed on a consolidated basis) to another Person or group of Persons acting in concert, whether in a single transaction or through a series of related transactions,
unless (i) either (a) the Company is the continuing Person or (b) the resulting, surviving or transferee entity is a corporation organized under the laws of the United States, any state thereof or the District of Columbia, and shall
expressly assume all of the obligations of the Company under this Indenture and the Notes by a supplemental indenture, executed and delivered to the Trustee on or prior to the consummation of such transaction, in form satisfactory to the Trustee,
(ii) no Default or Event of Default shall exist or shall occur immediately after giving effect to such transaction, (iii) immediately after giving effect to such transaction on a pro forma basis, the Net Worth of the resulting,
surviving or transferee entity is at least equal to the Net Worth of the Company immediately prior to such transaction, (iv) each Subsidiary Guarantor shall have executed and delivered to the Trustee, in form satisfactory to the Trustee, a
supplemental indenture confirming such Subsidiary Guarantor’s obligations to pay the principal of and interest on the Notes pursuant to its Subsidiary Guarantee, and (v) the Trustee shall have received, in form and substance reasonably
satisfactory to the Trustee, an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or sale, conveyance or other transfer and each supplemental indenture in respect thereto comply with this provision
and that all conditions precedent in this Indenture relating to such transaction have been complied with. 
  

	SECTION 5.2	SUCCESSOR CORPORATION SUBSTITUTED. 

 Upon any consolidation or merger or any transfer of all or substantially all of the assets of the Company in accordance with
Section 5.1, the successor Person formed by such consolidation or merger or the Person to whom such transfer is made, shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture
with the same effect as if such successor corporation had been named as the Company therein, but the Company in the case of a conveyance, transfer or lease of all or substantially all of the assets of the Company in accordance with
Section 5.1 shall not be released from the obligation to pay principal of, premium (if any) and interest on the Notes. 
 ARTICLE 6 
 DEFAULTS AND REMEDIES 

 

	SECTION 6.1	EVENTS OF DEFAULT. 

 An “Event of Default” occurs upon: 
 (i) the failure to pay interest on any Note when the same becomes due and payable and such failure continues for a period of 30 days; 
 (ii) the failure to pay, when due, the principal of, or premium, if any, on, any Note whether the same becomes due and payable at maturity, upon redemption, by acceleration or

  

 42 

 
otherwise (including the failure to make a payment to purchase Notes tendered pursuant to a Change of Control Offer or an Excess Cash Offer); 
 (iii) a default in the performance or breach of the provisions of Section 4.11, 4.17 or 5.1 hereof; 

(iv) a default in the observance or performance of any covenant or agreement contained in this Indenture, the Notes or any
Subsidiary Guarantee (other than a covenant or agreement referred to in any of the preceding clauses (i), (ii) or (iii)), which default continues for 30 days after written notice thereof is given to the Company by the Trustee or to
the Company and the Trustee by Holders of at least 25% of the principal amount of the Notes then outstanding; 
 (v) a default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any Restricted Subsidiary of the Company (or the
payment of which is guaranteed by the Company or any Restricted Subsidiary of the Company) whether such Indebtedness or guarantee now exists, or is created after the Issue Date, which default (A) extends beyond any stated period of grace
applicable thereto (including any extensions thereof) or (B) is caused by a failure to pay principal of or premium, if any, or interest on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness on the date
of such default, and, in each case, the outstanding principal amount of any such Indebtedness of the Company or such Restricted Subsidiary aggregates in excess of $10,000,000, and provided, further, that if any such default is waived by all
lenders, holders or obligees (as applicable) of such Indebtedness, then such Event of Default under this Section 6.1(v) shall be deemed waived and any consequential acceleration of the Notes shall be automatically rescinded, so long as
such rescission does not conflict with any judgment or decree; 
 (vi) a final judgment or final judgments for
the payment of money in excess of $10,000,000 are entered by a court or courts of competent jurisdiction against the Company or any Restricted Subsidiary of the Company, and such judgment or judgments remain unpaid and undischarged for a period
(during which execution shall not be effectively stayed) of 60 consecutive days, provided that the aggregate of all such unpaid and undischarged judgments exceed applicable and in force insurance contracts (as to which all coverage
corresponding to the claim or claims made a basis of such judgment or judgments have been acknowledged and confirmed for timely payment on such judgment or judgments by the respective insurers of then financial standing capable of paying such amount
or amounts) by at least $10,000,000; 
 (vii) any of this Indenture, the Notes or the Subsidiary Guarantees shall
for any reason cease to be, or be asserted by the Company or any Subsidiary Guarantor, as applicable, not to be, in full force and effect (except pursuant to the release of any Subsidiary Guarantee in accordance with this Indenture) or shall be
declared null and void or unenforceable, or the validity or enforceability thereof shall be denied or contested by the Company, any Affiliate or any other Person; 
 (viii) the Company or any Subsidiary Guarantor, pursuant to or within the meaning of Bankruptcy Law: 
 (A) commences a voluntary case, 
 (B) consents to the entry of an order for relief against it in an involuntary case,

  

 43 

 (C) consents to the appointment of a Bankruptcy Custodian of it or for all or substantially
all of its property, 
 (D) makes a general assignment for the benefit of its creditors, or 
 (E) generally is not paying its debts as they become due; or 
 (ix) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
 (A) is for relief, in an involuntary case, against the Company or any Subsidiary Guarantor; 
 (B) appoints a Bankruptcy Custodian of the Company or any Subsidiary Guarantor, for all or substantially all of the property of the Company
or any Subsidiary Guarantor; or 
 (C) orders the liquidation of the Company or any Subsidiary Guarantor, for all of
substantially all of the property of the Company or any Subsidiary Guarantor; 
 and the order or decree remains unstayed and in effect for 60
consecutive days. 
  

	SECTION 6.2	ACCELERATION. 

 If any Event of Default (other than an Event of Default specified in clause (viii) or (ix) of Section 0) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the
then outstanding Notes by written notice to the Company (and to the Trustee if given by such Holders) may declare all principal of, premium, if any, and accrued interest on the Notes to be due and payable immediately. Upon any such declaration, such
principal, premium and accrued interest on the Notes shall become due and payable immediately. If an Event of Default specified in clause (viii) or (ix) of Section 6.1 hereof occurs, all principal, premium, if any, and
accrued interest on the Notes will be immediately due and payable on all outstanding Notes without further declaration or other act on the part of any Person. 
 The Holders of not less than 66 2/3% in aggregate principal amount of the then outstanding Notes by
written notice to the Trustee may on behalf of all of the Holders rescind any such acceleration and its consequences if (i) any existing Events of Default, other than the non-payment of the principal, premium, if any, or interest on the Notes
which have become due solely by such acceleration, have been cured or waived in compliance with applicable provisions of this Indenture and (ii) the rescission would not conflict with any judgment or decree. 
  

	SECTION 6.3	OTHER REMEDIES. 

 If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and 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 of a Note in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or
acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law. 
  

 44 

	SECTION 6.4	WAIVER OF PAST DEFAULTS. 

 Prior to the declaration of acceleration of the Notes, the Holders of not less than 66 2/3% in aggregate principal amount of the then outstanding Notes by
notice to the Trustee may waive on behalf of the Holders of all of the Notes an existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of principal of, or premium (if any)
or interest on, any Note not yet cured (including in connection with a redemption or an offer to purchase pursuant to Sections 3.7, 3.9, 4.11 or 4.17) or a Default or Event of Default with respect to any covenant or provision which
cannot be modified or amended without the consent of the Holders of all the Notes. Upon any such waiver, such Default or Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every
purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 
  

	SECTION 6.5	CONTROL BY TWO-THIRDS CONSENT. 

 The Holders of 66 2/3% in aggregate principal amount of the then outstanding Notes may
direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with
law or this Indenture, that the Trustee determines may be unduly prejudicial to the rights of other Holders of Notes or that may involve the Trustee in personal liability. 
  

	SECTION 6.6	LIMITATION ON SUITS. 

 A Holder of a Note may pursue a remedy with respect to this Indenture or the Note only if: 
 (i) the Holder of a Note gives to the Trustee written notice of a continuing Event of Default; 
 (ii) the Holders of at least 25% in aggregate principal amount of the then outstanding Notes make a written request to the Trustee to pursue the remedy; 
 (iii) such Holder or Holders of Notes offer and, if requested, provide to the Trustee indemnity satisfactory to the Trustee
against any loss, liability or expense; 
 (iv) the Trustee does not comply with the request within 60 days after
receipt of the request and the offer and, if requested, the provision of indemnity; and 
 (v) during such 60-day period the Holders of 66 2/3% in aggregate principal amount of the then outstanding Notes do not give the Trustee a direction inconsistent with the request. 
 A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a Note or to obtain a preference or priority over another Holder of a Note. 
  

 45 

	SECTION 6.7	RIGHTS OF HOLDERS OF NOTES TO RECEIVE
PAYMENT. 

 Notwithstanding any other provision of this Indenture, the right of any Holder of a
Note to receive payment of principal, premium, if any, and interest on the Note, on or after the respective due dates expressed in the Note (including in connection with a redemption or an offer to purchase pursuant to Sections 3.7, 3.9,
4.11 or 4.17), 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 6.8	COLLECTION SUIT BY TRUSTEE. 

 If an Event of Default specified in Section 6.1(i) or (ii) occurs and is continuing, the Trustee is authorized to recover
judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium, if any, and interest remaining unpaid on the Notes and interest on overdue principal and, to the extent lawful, interest
and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due to the
Trustee under Section 7.7. 
  

	SECTION 6.9	TRUSTEE MAY FILE PROOFS OF CLAIM. 

 The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due to the Trustee under Section 7.7) and the Holders of the
Notes allowed in any judicial proceedings relative to the Company (or any other obligor upon the Notes), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or
deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the
Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.7. To the extent that
the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.7 out of the estate in any such proceeding shall be denied for any
reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation
or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
  

	SECTION 6.10	PRIORITIES. 

 If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order: 
 First: to the Trustee, its agents and attorneys for amounts due under Section 7.7, including payment of all compensation, expense and liabilities incurred, and all advances made, by the Trustee and the costs and expenses
of collection; 
  

 46 

 Second: to Holders of Notes 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, premium, if any, and interest, respectively; and 
 Third: to the Company or to such party as a court of competent jurisdiction shall direct. 
 The Trustee may fix a record date and payment date for any payment to Holders of Notes pursuant to this Section 6.10.

  

	SECTION 6.11	UNDERTAKING FOR COSTS. 

 In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a trustee, a court in its discretion may require the
filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit,
having due regard for the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant to Section 6.6, or a suit
by Holders of more than 10% in aggregate principal amount of the then outstanding Notes. 
 ARTICLE 7

 TRUSTEE 
  

	SECTION 7.1	DUTIES OF TRUSTEE. 

 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its
exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (b)
Except during the continuance of an Event of Default: 
  

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

  

	 	(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 any such certificates or opinions that by any provision hereof are specifically required to be furnished to the
Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture. 

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

 47 

	 	(iii)	this paragraph does not limit the effect of paragraph (b) of this Section 7.1; 

  

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

  

	 	(v)	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 6.5. 

 (d) Whether or not therein expressly so provided, every provision of this Indenture
that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.1. 
 (e) No provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability. The Trustee shall be under no obligation to exercise any of its rights and powers under
this Indenture at the request of any Holders, unless such Holder shall have offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense. 
 (f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.
Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
  

	SECTION 7.2	RIGHTS OF TRUSTEE. 

 (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated
in the document. 
 (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an
Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. The Trustee may consult with counsel of its selection and the
advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 
 (c) The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any attorney or
agent appointed with due care. 
 (d) The Trustee shall not be liable for any action taken, suffered or omitted by it in good
faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture. 
 (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company shall be sufficient if signed by an Officer of the Company. 
 (f) 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 unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction. 

 

 48 

 (g) The Trustee shall not be charged with knowledge of any Default or Event of Default with
respect to the Notes of any series for which it is acting as Trustee unless either (1) a Responsible Officer shall have actual knowledge of such Default or Event of Default or (2) written notice of such Default or Event of Default shall
have been given to the Trustee by the Company or any other obligor on such Notes or by any Holder of such Notes. 
  

	SECTION 7.3	INDIVIDUAL RIGHTS OF TRUSTEE. 

 The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any
Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any “conflicting interest” (within the meaning of § 3.10(b) of the TIA), it must eliminate such
conflict within 90 days, apply to the Commission for permission to continue as trustee or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.1 and 7.11. 
  

	SECTION 7.4	TRUSTEE’S DISCLAIMER. 

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

	SECTION 7.5	NOTICE OF DEFAULT. 

 If an Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee shall mail to Holders of Notes a notice of the Event of Default within 90 days after it occurs; provided
that, except in the case of a default in payment of principal of, premium, if any, or interest on any Notes, the Trustee may withhold, and shall be protected in withholding, the notice if and so long as a committee of its Responsible Officers in
good faith determines that the withholding of such notice is in the interest of the Holders of the Notes. 
  

	SECTION 7.6	REPORT BY TRUSTEE TO HOLDERS OF THE NOTES.

 Within 60 days after each May 15 beginning with the May 15 following the date of this Indenture,
and for so long as Notes remain outstanding, the Trustee shall mail to the Holders of the Notes a brief report dated as of such reporting date that complies with TIA § 313(a) (but if no event described in TIA § 313(a)
has occurred within the 12 months preceding the reporting date, no report need be transmitted). The Trustee also shall comply with TIA § 313(b)(2) and § 313(b)(1). The Trustee shall also transmit by mail all reports as
required by TIA § 313(c). 
 A copy of each report at the time of its mailing to the Holders of Notes shall be mailed
to the Company and filed with the Commission and each stock exchange on which the Notes are listed in accordance with TIA § 313(d). The Company shall promptly notify the Trustee when the Notes are listed on any stock exchange. 
  

 49 

	SECTION 7.7	COMPENSATION AND INDEMNITY. 

 The Company shall pay to the Trustee from time to time such compensation as shall be agreed between the Company and the Trustee for its
acceptance of this Indenture and services hereunder. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee promptly upon request for all reasonable
disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 

The Company shall indemnify each of the Trustee and any successor Trustee against any and all losses, liabilities, damages, claims or
expenses, including taxes (other than taxes based on the income of the Trustee), incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses of enforcing
this Indenture against the Company (including this Section 7.7) and defending itself against any claim (whether asserted by the Company or any Holder or any other Person) or liability in connection with the exercise or performance of any
of its powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence or bad faith. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by
the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the Company shall pay the
reasonable fees and expenses of much counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. 
 The obligations of the Company under this Section 7.7 shall survive the resignation or removal of the Trustee and the satisfaction and discharge of this Indenture. 
 To secure the Company’s payment obligations in this Section 7.7, the Trustee shall have a Lien prior to the Notes on all
money or property held or collected by the Trustee, except that held in trust to pay principal, premium, if any, and interest on particular Notes. Such Lien shall survive the satisfaction and discharge of this Indenture. 
 When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.1(viii) or
(ix) occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. The Trustee shall also be entitled
to receive compensation for extraordinary services in default administration. 
 The Trustee shall comply with the provisions of
TIA § 313 (b)(2) to the extent applicable. 
  

	SECTION 7.8	REPLACEMENT OF TRUSTEE. 

 A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this
Section 7.8. 
 The Trustee may resign in writing at any time and be discharged from the trust
hereby created by so notifying the Company. The Holders of Notes of 66 2/3% in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in writing. The Company may remove the Trustee if: 
  

 50 

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

(ii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee
under any Bankruptcy Law; 
 (iii) a Bankruptcy Custodian or public officer takes charge of the Trustee or its
property; or 
 (iv) the Trustee becomes incapable of acting. 
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall
promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of 66 2/3% in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company. 
 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the
Company or the Holders of Notes of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
 If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note for at least six months, fails to comply with
Section 7.10, such Holder of a Note may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. 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 Holders
of the Notes. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.7.
Notwithstanding replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 shall continue for the benefit of the retiring Trustee. 
  

	SECTION 7.9	SUCCESSOR TRUSTEE BY MERGER, ETC. 

 If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to another
corporation, the successor corporation without any further act shall be the successor Trustee. As soon as practicable, the successor Trustee shall mail a notice of its succession to the Company and the Holders of the Notes. 
  

	SECTION 7.10	ELIGIBILITY; DISQUALIFICATION. 

 There shall at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America or of any state thereof that is authorized under such laws
to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has (together with its parent bank holding company, if any) a combined capital and surplus of at least $50,000,000 as set
forth in its most recent published annual report of condition. 
 This Indenture shall always have a Trustee who satisfies the
requirements of TIA § 310(a)(1), (2) and (5). The Trustee is subject to TIA § 310(b). 
  

 51 

	SECTION 7.11	PREFERENTIAL COLLECTION OF CLAIMS AGAINST THE COMPANY. 

 The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A
Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 
 ARTICLE 8 
 LEGAL DEFEASANCE AND
COVENANT DEFEASANCE; SATISFACTION AND DISCHARGE 
  

	SECTION 8.1	OPTION TO EFFECT LEGAL DEFEASANCE OR COVENANT
DEFEASANCE. 

 The Company may, at the option of its Board of Directors evidenced by a Board
Resolution set forth in an Officers’ Certificate delivered to the Trustee, at any time, elect to have either Section 8.2 or 8.3 applied to all outstanding Notes upon compliance with the conditions set forth below in this
Article 8. 
  

	SECTION 8.2	LEGAL DEFEASANCE AND DISCHARGE. 

 Upon the Company’s exercise under Section 8.1 of the option applicable to this Section 8.2, the Company and each
Subsidiary Guarantor shall, subject to the satisfaction of the conditions set forth in Section 8.4 and continuance of certain provisions hereinafter referenced, be deemed to have been discharged from their respective obligations with
respect to all outstanding Notes on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company and each Subsidiary
Guarantor shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.5 and the other
Sections of this Indenture referred to in clauses (i) and (ii) of this Section 8.2, and the Company and each Subsidiary Guarantor shall be deemed to have satisfied all of their respective other obligations under
such Notes or any Subsidiary Guarantee (as applicable) and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions, which shall
survive until otherwise terminated or discharged hereunder: (i) the rights of Holders of outstanding Notes to receive solely from the trust fund described in Section 8.4, and as more fully set forth in such Section, payments in
respect of the principal of, premium, if any, and interest on such Notes when such payments are due; (ii) the Company’s obligations with respect to such Notes under Sections 2.3, 2.4, 2.6, 2.7 and 2.10 and
Section 4.2; (iii) the rights, powers, trusts, duties, obligations and immunities of the Trustee hereunder, including the Trustee’s rights under Section 7.7, and the Company’s obligations in connection
therewith; (iv) Sections 10.3 and 10.7; and (v) this Article 8. Subject to compliance with this Article 8, the Company may exercise its option under this Section 8.2 notwithstanding the prior
exercise of its option under Section 8.3. 
  

 52 

	SECTION 8.3	COVENANT DEFEASANCE. 

 Upon the Company’s exercise under Section 8.1 hereof of the option applicable to this Section 8.3, the Company shall, subject to the satisfaction of the conditions set forth
in Section 8.4, be released from its obligations under the covenants contained in Sections 4.5(a), 4.7, 4.8, 4.9, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, 4.17, 5.1(ii) and 10.2 hereof with respect to the outstanding Notes
on and after the date the conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and such Notes shall thereafter be deemed not “outstanding” for the purposes of any direction,
waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Notes
shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, (i) the Company and each Subsidiary Guarantor may omit to comply with and shall have no liability
in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other
provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.1(iii) or Section 6.1(iv) (as applicable), and (ii) Sections 6.1(v)
and Section 6.1(vi) shall not constitute Events of Default but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. 
  

	SECTION 8.4	CONDITIONS TO LEGAL OR COVENANT DEFEASANCE. 

The following shall be the conditions to the application of either Sections 8.2 or 8.3 to the outstanding Notes: 

(a) the Company shall irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, (i) cash in United States
dollars, (ii) Government Securities which through the payment of interest and principal will provide, no later than one day before the due date of payment in respect of such Notes, cash in United States dollars in an amount, or (iii) or a
combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay and discharge the principal of, premium, if any, and interest on the outstanding Notes on the stated
date for payment thereof or on the applicable redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to maturity or to a particular redemption date; 
 (b) in the case of an election under Section 8.2, the Company shall have delivered to the Trustee an Opinion of Independent
Counsel in the United States stating that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (ii) 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 Independent Counsel shall confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of
such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 
 (c) in the case of an election under Section 8.3, the Company shall have delivered to the Trustee an Opinion of Independent
Counsel in the United States stating that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same
amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 
  

 53 

 (d) no Default or Event of Default shall have occurred and be continuing
on the date of such deposit or insofar as Section 6.1(viii) or 6.1(ix) is concerned, at any time in the period ending on the 91st day (or, if such irrevocable deposit may be subject to set aside or avoidance under then applicable bankruptcy or
insolvency laws for a period of time longer than 90 days, then one day after the conclusion of such longer period of time) after the date of the irrevocable deposit referred to in Section 8.4(a) (it being agreed and understood that this
condition shall not be satisfied until the expiration of such period); 
 (e) such Legal Defeasance or Covenant Defeasance shall
not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is
bound; 
 (f) the Company shall have delivered to the Trustee an Opinion of Independent Counsel to the
effect that, as of the date such opinion, (i) such Legal Defeasance or Covenant Defeasance shall not result in the Company, any Subsidiary Guarantor, the trust arising from the irrevocable deposit referred to in Section 8.4(a) or
the Trustee being subject to regulation under, or constituting an investment company within the meaning of, the Investment Company Act of 1940, as amended, and (ii) assuming no intervening bankruptcy of the Company between the date of deposit
and the 91st day following the deposit or if a longer
period, the day following the end of such other preference period in effect at the time of such opinion, as applicable, following the deposit, the trust funds irrevocably deposited pursuant to Section 8.4(a) will not be subject to the
effects of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally under any applicable United States or state law; 
 (g) the Company shall have delivered to the Trustee an Officers’ Certificate stating that the irrevocable deposit referred in
Section 8.4(a) was not made by the Company with the intent of preferring the Holders of Notes over any other creditors of the Company or any Subsidiary Guarantor with the intent of defeating, hindering, delaying or defrauding creditors
of the Company, any Subsidiary Guarantor or others; 
 (h) no event or condition shall exist that would prevent the Company from
making payments of the principal of, or premium, if any, or interest on, the Notes on the date of the irrevocable deposit referred to in Section 8.4(a) or at any time during and ending on the 91st day (or such longer period as referred
to in Sections 8.4(d) and (f)(ii)) after the date of such deposit; and 
 (i) the Company shall have
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, which, taken together, state that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance have been complied with.

  

	SECTION 8.5	DEPOSITED MONEY AND GOVERNMENT SECURITIES TO BE
HELD IN TRUST; OTHER MISCELLANEOUS PROVISIONS. 

 Subject to Section 8.6, all money and Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this
Section 8.5, the “Trustee”) pursuant to Section 8.4 in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes
and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of
principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 
  

 54 

 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or Government Securities deposited pursuant to Section 8.4 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of the outstanding Notes. 
 Anything in this Article 8 to the contrary notwithstanding, the Trustee shall
deliver or pay to the Company from time to time upon the request of the Company any money or Government Securities held by it as provided in Section 8.4 that, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.4(a)), are in excess of the amount thereof that would then be required to be deposited to effect an
equivalent Legal Defeasance or Covenant Defeasance. 
  

	SECTION 8.6	REPAYMENT TO THE COMPANY. 

 Subject to the applicable escheat and abandoned property laws, any money deposited with the Trustee or any Paying Agent, or then held by the
Company, in trust for the payment of the principal of, premium, if any, or interest on any Note and remaining unclaimed for two years after such principal, and premium, if any, or interest has become due and payable shall be paid to the Company on
its request or (if then held by the Company) shall be discharged from such trust; and the Holder of such Notes shall thereafter, as a secured creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying
Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense
of the Company cause to be published once, in The New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of
such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
  

	SECTION 8.7	REINSTATEMENT. 

 If the Trustee or Paying Agent is unable to apply any United States dollars or Government Securities in accordance with Section 8.5 by reason of any order or judgment of any court or governmental authority enjoining, restraining
or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Notes and the Subsidiary Guarantors’ obligations under this Indenture and the Subsidiary Guarantees shall be revived and reinstated as
though no deposit had occurred pursuant to Sections 8.2 or 8.3 until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.5; provided, however, that, if the Company
makes any payment of principal of, premium, if any, or interest on any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the
Trustee or Paying Agent. 
  

 55 

	SECTION 8.8	SATISFACTION AND DISCHARGE OF INDENTURE. 

 In addition to the options to effect Legal Defeasance and Covenant Defeasance, and the effects thereof, this Indenture shall cease to be of
further effect (subject to Section 8.7) when all outstanding Notes theretofore authenticated and issued hereunder have been delivered (other than any Notes which shall have been destroyed, lost or stolen and which shall have been
replaced or paid as provided in Section 2.7) to the Trustee for cancellation and the Company has paid or caused to be paid all sums payable hereunder and under the Notes. Notwithstanding the satisfaction and discharge referred to in this
Section 8.8, the provisions of this Indenture referred to at clauses (i) through (v) of Section 8.2 shall survive until otherwise terminated or discharged hereunder. For the avoidance of doubt, in addition to
and distinct from this Section 8.8, the Company may elect Legal Defeasance or Covenant Defeasance (or both) as provided for in Section 8.1 through 8.4. 
 ARTICLE 9 
 AMENDMENT,
SUPPLEMENT AND WAIVER 
  

	SECTION 9.1	WITHOUT CONSENT OF HOLDERS OF NOTES. 

 (a) Notwithstanding Section 9.2, the Company, the Subsidiary Guarantors and the Trustee may amend or supplement this Indenture or
the Notes without the consent of any Holder of a Note: 
 (i) to cure any ambiguity, defect or inconsistency; 
 (ii) to provide for uncertificated Notes in addition to or in place of certificated Notes; 
 (iii) to provide for the assumption of the Company’s obligations to the Holders of the Notes pursuant to Article 5 or
Section 10.4(b); 
 (iv) to secure the Notes; 
 (v) to make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect the
legal rights under this Indenture of any such Holder; 
 (vi) to add any Restricted Subsidiary as an additional Subsidiary
Guarantor as provided in Section 10.2 or to evidence the succession of another Person to any Subsidiary Guarantor pursuant to Section 0 and the assumption by any such successor of the covenants and agreements of such
Subsidiary Guarantor contained herein and in the Subsidiary Guarantee of such Subsidiary Guarantor; 
 (vii) to release a
Subsidiary Guarantor from its obligations under this Indenture and its Subsidiary Guarantee pursuant to Section 10.5, or 
 (viii) to comply with requirements of the Commission in order to effect or maintain the qualification of this Indenture under the TIA. 
 (b) Upon the request of the Company accompanied by a Board Resolution of its Board of Directors authorizing the execution of any such amendment or supplemental Indenture, and upon receipt by the Trustee
of the documents described in Section 9.6, the Trustee shall join with the Company and the

  

 56 

 
Subsidiary Guarantors in the execution of any amended or supplemental Indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and
stipulations that may be therein contained, but the Trustee shall not be obligated to enter into such amended or supplemental Indenture that affects its own rights, duties or immunities under this Indenture or otherwise. 
  

	SECTION 9.2	WITH CONSENT OF HOLDERS OF NOTES. 

 Except as provided below in this Section 9.2, the Company and the Trustee may amend or supplement this
Indenture, the Subsidiary Guarantees or the Notes with the consent of the Holders of at least 66 2/3% in aggregate principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer
for, Notes) and, subject to Sections 6.4 and 6.7, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if any, or interest on the Notes, except a payment default
resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture or the Notes may be waived with the consent of the Holders of 66    % in aggregate principal amount of the then
outstanding Notes (including consents obtained in connection with a purchase of, tender offer or exchange offer for Notes). 
 Upon the request of the Company accompanied by a Board Resolution of its Board of Directors authorizing the execution of any such amended or supplemental Indenture, and upon the filing with the Trustee of evidence satisfactory to the
Trustee of the consent of the Holders of Notes as herein provided, and upon receipt by the Trustee of the documents described in Section 9.6, the Trustee shall join with the Company and the Subsidiary Guarantors in the execution of such
amended or supplemental Indenture unless such amended or supplemental Indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be
obligated to, enter into such amended or supplemental Indenture. 
 Subject to Sections 6.4 and
6.7, the Holders of 66 2/3% in aggregate
principal amount of the Notes then outstanding may waive compliance in a particular instance by the Company and the Subsidiary Guarantors with any provision of this Indenture or the Notes. However, without the consent of each Holder affected, an
amendment or waiver may not (with respect to any Notes held by a non-consenting Holder): 
 (i) change the Stated Maturity
Date or the date specified in any Note as the fixed date on which any principal thereof, or any installment of interest thereon, is due and payable, or change to an earlier date any redemption date of, or waive a default in the payment of the
principal or interest on, any such Note or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or change the coin or currency in which the principal of any Note or any premium or
the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity Date or the date specified in any Note as the fixed date on which any principal thereof or any installment
of interest thereon is due and payable (or, in the case of redemption, on or after the redemption date); 
 (ii) after the date
upon which a Change of Control Offer or Excess Cash Offer, as the case may be, is required to be made, amend, change or modify the obligation of the Company to make and consummate an Excess Cash Offer with respect to any Asset Sale in accordance
with Section 4.11 or the obligation of the Company to make and consummate a Change of Control Offer in the event of a Change of Control in accordance with Section 4.17, including, in each case, amending, changing or modifying
any provisions of such Sections or any definitions relating thereto; 
  

 57 

 (iii) reduce the percentage in principal amount of the outstanding Notes, the consent of
whose Holders is required for any such amendment, supplemental indenture, or the consent of whose Holders is required for any waiver or compliance with certain provisions of this Indenture; 
 (iv) modify any of the provisions of this Section 9.2 or Section 6.4, except to increase the percentage of such outstanding
Notes required for any such actions or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each such Note affected thereby; 
 (v) except as otherwise permitted under Article Five and Article Ten, consent to the assignment or transfer by the Company
or any Subsidiary Guarantor of any of its rights and obligations hereunder; 
 (vi) alter, modify or change the ranking of any of
the Notes or any Subsidiary Guarantee relative to the payment of other Indebtedness or obligations of the Company or any Subsidiary Guarantor, or otherwise adversely affect the ranking of the Notes or Subsidiary Guarantees; or 
 (vii) release any Subsidiary Guarantee in any manner otherwise than in accordance with the terms of this Indenture, or amend, modify or
change any provision of this Indenture (including the Subsidiary Guarantee) which provides for the release of any Subsidiary Guarantee. 
 It shall not be necessary for the consent of the Holders of Notes under this Section 9.2 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be
sufficient if such consent approves the substance thereof. 
 After an amendment, supplement or waiver under this
Section 9.2 becomes effective, the Company shall mail to the Holders of Notes affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such amended or supplemental Indenture or waiver. 
  

	SECTION 9.3	COMPLIANCE WITH TRUST INDENTURE ACT. 

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

	SECTION 9.4	REVOCATION AND EFFECT OF CONSENTS. 

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

	SECTION 9.5	NOTATION ON OR EXCHANGE OF NOTES. 

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

 58 

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

	SECTION 9.6	TRUSTEE TO SIGN AMENDMENT ETC. 

 The Trustee shall sign any amendment or supplemental indenture to this Indenture authorized pursuant to this Article 9 if the
amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amendment or supplemental indenture to this Indenture until its Board of Directors approves it. In executing
any amendment or supplemental indenture to this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in relying upon, in addition to the documents required by
Section 11.4, Officers’ Certificates and Opinions of Counsel stating that the execution of such amendment or supplemental indenture to this Indenture is authorized or permitted by this Indenture. 
 ARTICLE 10 
 SUBSIDIARY GUARANTEES 
  

	SECTION 10.1	SUBSIDIARY GUARANTEES. 

 (a) Each of the Subsidiary Guarantors and each Subsidiary of the Company that in accordance with Section 10.2 is required to guarantee the obligations of the Company under the Notes and this
Indenture hereby jointly and severally and unconditionally guarantee, on a senior basis (each such guarantee being a “Subsidiary Guarantee”), to each Holder of a Note authenticated and delivered by the Trustee
irrespective of the validity or enforceability of this Indenture, the Notes or the obligations of the Company under this Indenture or the Notes, that: (i) the principal of, premium, if any, and interest on the Notes shall be paid in full when
due, whether at the maturity or interest payment or optional or mandatory redemption date, by acceleration, call for redemption or otherwise, and interest on the overdue principal and interest, if any, of the Notes and all other obligations of the
Company to the Holders or the Trustee under this Indenture or the Notes shall be promptly paid in full or performed, all in accordance with the terms of this Indenture and the Notes and (ii) in case of any extension of time of payment or
renewal of any Notes or any of such other obligations, they shall be paid in full when due or performed in accordance with the terms of the extension or renewal, whether at maturity, by acceleration or otherwise. Failing payment when due of any
amount so guaranteed for whatever reason, each Subsidiary Guarantor shall be obligated to pay the same whether or not such failure to pay has become an Event of Default that could cause acceleration pursuant to Section 6.2. Each
Subsidiary Guarantor agrees that this is a guarantee of payment not a guarantee of collection. 
 (b) Each Subsidiary Guarantor
hereby agrees that its obligations with regard to its Subsidiary Guarantee shall be unconditional, irrespective of the validity or enforceability of the Notes or the obligations of the Company under this Indenture, the absence of any action to
enforce the same, the recovery of any judgment against the Company or any other obligor with respect to this Indenture, the Notes or the obligations of the Company under this Indenture or the Notes, any action to enforce the same or any other
circumstances (other than complete performance) that might otherwise constitute a legal or equitable discharge or defense of a Subsidiary Guarantor. Each Subsidiary Guarantor further, to the extent permitted by law, waives and relinquishes all
claims, rights and remedies accorded by applicable law to guarantors and agrees not to assert or take advantage of any such claims, rights or remedies, including but not limited to: (i) any right to require the Trustee, the Holders or the
Company (each, a “Benefitted Party”) to proceed

  

 59 

 
against the Company or any other Person or to proceed against or exhaust any security held by a Benefitted Party at any time or to pursue any other remedy in any Benefitted Party’s power
before proceeding against such Subsidiary Guarantor; (ii) the defense of the statute of limitations in any action hereunder or in any action for the collection of any Indebtedness or the performance of any obligation hereby guaranteed;
(iii) any defense that may arise by reason of the incapacity, lack of authority, death or disability of any other Person or the failure of a Benefitted Party to file or enforce a claim against the estate (in administration, bankruptcy or any
other proceeding) of any other Person; (iv) demand, protest and notice of any kind, including but not limited to, notice of the existence, creation or incurring of any new or additional Indebtedness or obligation or of any action or non-action
on the part of such Subsidiary Guarantor, the Company, any Benefitted Party, any creditor of such Subsidiary Guarantor, the Company or on the part of any other Person whomsoever in connection with any Indebtedness or obligations hereby guaranteed;
(v) any defense based upon an election of remedies by a Benefitted Party, including but not limited to, an election to proceed against such Subsidiary Guarantor for reimbursement; (vi) any defense based upon any statute or rule of law that
provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; (vii) any defense arising because of a Benefitted Party’s election, in any proceeding instituted
under any Bankruptcy Law, of the application of Section 1111(b)(2) under the Bankruptcy Law; (viii) any defense based on any borrowing or grant of a security interest under Section 364 under the Bankruptcy Law or (ix) any right
to require a proceeding first against the Company, protest, notice and all demands whatsoever. Each Subsidiary Guarantor hereby covenants that its Subsidiary Guarantee will not be discharged except by complete performance of all of the obligations
contained in its Subsidiary Guarantee, the Notes and this Indenture. 
 (c) If any Holder or the Trustee is required by any
court or otherwise to return to either the Company or any Subsidiary Guarantor, or any custodian, trustee, or similar official acting in relation to either the Company or such Subsidiary Guarantor, any amount paid by the Company or such Subsidiary
Guarantor to the Trustee or such Holder, the applicable Subsidiary Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. Each Subsidiary Guarantor agrees that it will not be entitled to any right of
subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. 
 (d) Each Subsidiary Guarantor further agrees that, as between such Subsidiary Guarantor, on the one hand, and the Holders and the Trustee, on the other hand, (i) the maturity of the obligations
guaranteed hereby may be accelerated as provided in Section 6.2 for the purposes of this Subsidiary Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration as to the Company or any other obligor
on the Notes of the obligations guaranteed hereby and (ii) in the event of any declaration of acceleration of those obligations as provided in Section 6.2, those obligations (whether or not due and payable) will forthwith become due
and payable by such Subsidiary Guarantor for the purpose of this Subsidiary Guarantee. 
  

 60 

	SECTION 10.2	ADDITIONAL SUBSIDIARY GUARANTEES. 

 (a) Simultaneously with (i) the acquisition (by merger, consolidation, acquisition of assets, stock or properties or otherwise) or
formation of a Person which, directly or indirectly, becomes a Subsidiary of the Company, or (ii) the occurrence of any other event, circumstance or transaction pursuant to which, directly or indirectly, a Person becomes a Subsidiary of the
Company, in each case referred to in the immediately preceding clauses (i) and (ii), other than a Person then designated an Unrestricted Subsidiary of the Company in accordance with Section 4.14, the Company then shall
(y) cause such Person to execute a supplemental indenture to this Indenture agreeing to be bound by its terms applicable to a Subsidiary Guarantor and providing for a Subsidiary Guarantee of the Notes by such Person, in accordance with the
terms of this Indenture and (z) deliver such supplemental indenture to the Trustee, accompanied by the Opinion of Counsel and Officers’ Certificate required pursuant to Section 9.6. 
 (b) In furtherance of Section 10.2(a), but in no regard diminishing the immediacy of its requirement that upon a Person becoming
a Subsidiary it simultaneously becomes a Subsidiary Guarantor, in no event whatsoever shall the Company permit any of its Restricted Subsidiaries, other than a Subsidiary Guarantor, directly or indirectly, to (i) incur any Indebtedness or
guarantee or secure through the granting of Liens the payment of any Indebtedness of the Company or any other Restricted Subsidiary or (ii) pledge any intercompany notes representing obligations of any of its Restricted Subsidiaries to secure
the payment of its or any of the Company’s or other Restricted Subsidiary’s Indebtedness, in each case, unless the Company shall (y) cause such Restricted Subsidiary to execute a supplemental indenture to this Indenture agreeing to be
bound by its terms applicable to a Subsidiary Guarantor and providing for a Subsidiary Guarantee of the Notes by such Person in accordance with the terms of this Indenture and (z) deliver such supplemental indenture to the Trustee, accompanied
by the Opinion of Counsel and an Officers’ Certificate required pursuant to Section 9.6. 
  

	SECTION 10.3	LIMITATION OF SUBSIDIARY GUARANTORS’ LIABILITY. 

 (a) Each Subsidiary Guarantor and by its acceptance hereof, each beneficiary hereof, hereby confirm that it is its intention that the
Subsidiary Guarantee by such Subsidiary Guarantor not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law
to the extent applicable to any of the Subsidiary Guarantees. To effectuate the foregoing intention, each such Person hereby irrevocably agrees that the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee under this
Article 10 shall be limited to the maximum amount as will, after giving effect to all other contingent and fixed liabilities of such Subsidiary Guarantor and after giving effect to any collections from or payments made by or on behalf of
any other Subsidiary Guarantor in respect of the obligations of such other Subsidiary Guarantor under its Subsidiary Guarantee or pursuant to its contribution obligations under this Indenture, result in the obligations of such Subsidiary Guarantor
under the Subsidiary Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal or state law. 
 (b) For purposes of such limitations and the applicable fraudulent conveyance laws, any indebtedness of a Subsidiary Guarantor incurred from time to time pursuant to a Permitted Bank Credit Facility and secured by a perfected Lien on the
assets of such Subsidiary Guarantor (assuming, for purposes of such determination, that the incurrence of any such indebtedness and the granting of any such security interest did not violate any such fraudulent conveyance laws) shall be deemed, to
the extent of the value of the assets subject to such Lien, to have been incurred prior to the incurrence by such Subsidiary Guarantor of liability under its Subsidiary Guarantee. 
  

 61 

 (c) Each beneficiary under the Subsidiary Guarantees, by accepting the benefits hereof,
confirms its intention that, in the event of a bankruptcy, reorganization or other similar proceeding of the Company or any Subsidiary Guarantor in which concurrent claims are made upon such Subsidiary Guarantor hereunder, to the extent such claims
will not be fully satisfied, each claimant with a valid claim against the Company shall be entitled to a ratable share of all payments by such Subsidiary Guarantor in respect of such concurrent claims. 
  

	SECTION 10.4	SUBSIDIARY GUARANTORS MAY CONSOLIDATE ETC., ON CERTAIN
TERMS. 

 (a) No Subsidiary Guarantor may consolidate with or merge with or into (whether or not
such Subsidiary Guarantor is the surviving Person) another Person or, subject to Section 10.5, sell, convey or otherwise transfer all or substantially all of its assets to another Person or group, unless (i) subject to the
provisions of the following paragraph, the Person formed by or surviving any such consolidation or merger (if other than such Subsidiary Guarantor) (A) is a corporation organized and existing under the laws of the United States of America, any
state thereof or the District of Columbia, and (B) expressly assumes all the obligations of such Subsidiary Guarantor by executing and delivering a supplemental indenture to this Indenture to the Trustee agreeing to be bound by its terms
applicable to a Subsidiary Guarantor and providing for a Subsidiary Guarantee of the Notes by such Person, in accordance with the terms of this Indenture; (ii) immediately before and after giving effect to such transaction, no Default or Event
of Default exists and immediately after giving effect to such transaction, the resulting, surviving or transferee entity could Incur $1.00 of additional Indebtedness pursuant to Section 4.7(a); and (iii) such Subsidiary Guarantor,
or any Person formed by or surviving any such consolidation or merger, would have a Net Worth (immediately after giving effect to such transaction), equal to or greater than the Net Worth of such Subsidiary Guarantor immediately preceding the
transaction. In connection with any consolidation, merger or sale, conveyance or other transfer contemplated by this provision, the Subsidiary Guarantor shall deliver, or cause to be delivered, to the Trustee, in form and substance reasonably
satisfactory to the Trustee, an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or sale, conveyance or other transfer and the supplemental indenture in respect thereto comply with this provision and
that all conditions precedent in this Indenture provided for relating to such transaction or transactions have been complied with. 
 (b) Notwithstanding the foregoing, (i) a Subsidiary Guarantor may consolidate with or merge with or into, or sell, convey or otherwise transfer all or substantially all of its assets to, the Company, provided that the surviving
corporation (if other than the Company) shall expressly assume by supplemental indenture complying with the requirements of this Indenture, the due and punctual payment of the principal of, premium, if any, and interest on all of the Notes, and the
due and punctual performance and observance of all the covenants and conditions of this Indenture to be performed by the Company and (ii) a Subsidiary Guarantor may consolidate with or merge with or into, or sell, convey or otherwise transfer
all or substantially all of its assets to, any other Subsidiary Guarantor. 
  

 62 

	SECTION 10.5	RELEASES OF SUBSIDIARY GUARANTORS. 

 In the event of (i) the designation of any Subsidiary Guarantor as an Unrestricted Subsidiary of the Company pursuant to the provisions
of Section 4.14 or (ii) a sale, conveyance, transfer or other disposition of all or substantially all of the properties or assets of any Subsidiary Guarantor to a Person other than the Company or any other Subsidiary Guarantor or an
Unrestricted Subsidiary of the Company, by way of merger, consolidation or otherwise, or a sale or other disposition of all of the Capital Stock of any Subsidiary Guarantor, in either case, in a transaction or manner that does not violate any of the
covenants or other provision of this Indenture, then such Subsidiary Guarantor (in the event of such a designation or a sale, conveyance, transfer or other disposition (other than a lease), by way of such a merger, consolidation or otherwise, or a
disposition of all of the Capital Stock of such Subsidiary Guarantor) or the Person acquiring such properties or assets (in the event of a sale, conveyance, transfer or other disposition (other than a lease) of all or substantially all of the
properties or assets of such Subsidiary Guarantor) will be released from and relieved of any obligations under this Indenture and its Subsidiary Guarantee, provided that (y) any Net Cash Proceeds of such sale or other disposition are
applied in accordance with Section 4.11 as evidenced by an Officers’ Certificate to such effect, and (z) all obligations of such Subsidiary Guarantor under all of its guarantees of, and under all of its pledges of assets or
other security interests that secure, any other Indebtedness of the Company or its Restricted Subsidiaries shall also terminate upon such release, sale or disposition. 
  

	SECTION 10.6	“TRUSTEE” TO INCLUDE PAYING AGENT. 

 In case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the term
“Trustee” as used in this Article 10 shall in such case (unless the context shall otherwise require) be construed as extending to and including such Paying Agent within its meaning as fully and for all intents and purposes as
if such Paying Agent were named in this Article 10 in place of the Trustee. 
  

	SECTION 10.7	CONTRIBUTION. 

 In order to provide for just and equitable contribution among the Subsidiary Guarantors, the Subsidiary Guarantors agree, inter se, that in the event any payment or distribution is made by any Subsidiary Guarantor (a
“Funding Guarantor”) under a Subsidiary Guarantee, such Funding Guarantor shall be entitled to a contribution from all other Subsidiary Guarantors in a pro rata amount based on the Adjusted Net Assets (as
defined below) of each Subsidiary Guarantor (including the Funding Guarantor) for all payments, damages and expenses incurred by that Funding Guarantor in discharging the Company’s obligations with respect to the Notes or any other Subsidiary
Guarantor’s obligations with respect to such Subsidiary Guarantee. “Adjusted Net Assets” of such Subsidiary Guarantor at any date shall mean the lesser of the amount by which (x) the fair value of the
property of such Subsidiary Guarantor exceeds the total amount of liabilities, including, without limitation, contingent liabilities, but excluding liabilities under the Subsidiary Guarantee of such Subsidiary Guarantor at such date and (y) the
present fair salable value of the assets of such Subsidiary Guarantor at such date exceeds the amount that will be required to pay the probable liability of such Subsidiary Guarantor on its debts (after giving effect to all other fixed and
contingent liabilities incurred or assumed on such date and after giving effect to any collection from any Subsidiary of such Subsidiary Guarantor in respect of the obligations of such Subsidiary under the Subsidiary Guarantees), excluding debt in
respect of the Subsidiary Guarantees, as they become absolute and matured. 
  

 63 

	SECTION 10.8	EXECUTION OF SUBSIDIARY GUARANTEES. 

 To evidence its guarantee to each Holder of Notes, each of the Subsidiary Guarantors hereby agrees to execute its Subsidiary Guarantee in
substantially the form of Exhibit A recited to be endorsed on each Note ordered to be authenticated and delivered by the Trustee. Each Subsidiary Guarantor hereby agrees that its Subsidiary Guarantee set forth in Section 10.1
shall remain in full force and effect notwithstanding any failure to endorse on each Note a notation of such Subsidiary Guarantee. Each such Subsidiary Guarantee shall be signed on behalf of each Subsidiary Guarantor by one Officer of such
Subsidiary Guarantor who shall have been duly authorized by all requisite corporate actions, and the delivery of such Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of such Subsidiary Guarantee on
behalf of such Subsidiary Guarantor. Such signatures upon the Subsidiary Guarantee may be by manual or facsimile signature of such Officer and may be imprinted or otherwise reproduced on the Subsidiary Guarantee, and in case any such Officer who
shall have signed the Subsidiary Guarantee shall cease to be such Officer before the Note on which such Subsidiary Guarantee is endorsed shall have been authenticated and delivered by the Trustee or disposed of by the Company, such Note nevertheless
may be authenticated and delivered or disposed of as though the person who signed the Subsidiary Guarantee had not ceased to be such officer of the Subsidiary Guarantor. 
 ARTICLE 11 
 MISCELLANEOUS 

 

	SECTION 11.1	TRUST INDENTURE ACT CONTROLS. 

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

	SECTION 11.2	NOTICES. 

 Any notice or communication by the Company, any of the Subsidiary Guarantors or the Trustee to any of the others is duly given if in writing and delivered in person or mailed by first class mail (registered or certified, return receipt
requested), facsimile or overnight air courier guaranteeing next-day delivery, to such other’s address: 
 If to the
Company or any Subsidiary Guarantor: 
 RAM Energy Resources, Inc. 
 5100 East Skelly Drive, Suite 650 
 Tulsa, Oklahoma 74135 
 Facsimile No.: (918) 663-9214 
 Attention: Mr. Larry E. Lee 
  

 64 

 with, in any notice required to be given to the Company pursuant to Article 6 and, of
resignation, pursuant to Section 7.8, a copy to: 
 C. David Stinson, Esq. 
 McAfee & Taft 
 211 North Robinson, Suite 1000 
 Oklahoma City, Oklahoma 73102 
 provided, however, the failure to provide or any delay in providing any “with a copy to” notice or communication shall not impair the
effect and validity of any notice or communication made to the Company, in person, by first class mail, facsimile or overnight air courier, in each case as provided in this Section 11.2, at its address above or otherwise designated
pursuant to the provisions of this Section 11.2. 
 If to the Trustee: 
  

			
	 	 	
	 	 	
	 	 	
	 	 	
	 	 	
	 	 	
	 	 	

 The Company, any of the Subsidiary Guarantors or the Trustee, by notice to the
others, may designate additional or different addresses for subsequent notices or communications. 
 All notices and
communications (other than those sent to Holders) shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; 5 Business Days after being deposited in the United States mail, postage prepaid, if mailed; when
receipt acknowledged, if sent by facsimile; the next Business Day after timely delivery to the courier, if sent for overnight delivery by a courier guaranteeing next-day delivery; and the second Business Day after timely delivery to the courier, if
sent for second-day delivery by a courier guaranteeing second-day delivery. 
 Any notice or communication to a Holder shall be
mailed by first class U.S. mail to its address shown on the register kept by the Registrar. Any notice or communication shall also be so mailed to any Person described in TIA § 313(c), to the extent required by the TIA. Failure to mail a notice
or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 
 If a notice
or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it. 
 If the Company mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time. 
  

	SECTION 11.3.	COMMUNICATION BY HOLDERS OF NOTES WITH OTHER
HOLDERS OF NOTES. 

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

 65 

	SECTION 11.4	CERTIFICATE AND OPINION AS TO CONDITIONS PRECEDENT. 

 Upon any request or application by the Company to the Trustee to take any action under this Indenture, such
requesting entity shall furnish to the Trustee: 
 (i) an Officers’ Certificate in form and substance
reasonably satisfactory to the Trustee (which shall include the statements set forth in Section 11.5) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to
the proposed action have been satisfied; and 
 (ii) an Opinion of Counsel in form and substance reasonably
satisfactory to the Trustee (which shall include the statements set forth in Section 11.5) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied. 
  

	SECTION 11.5	STATEMENTS REQUIRED IN CERTIFICATE OR OPINION.

 Each certificate or opinion with respect to compliance with a condition or covenant provided for in this
Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include: 
 (i) a statement that the Person making such certificate or opinion has read such covenant or condition; 
 (ii) 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; 
 (iii) a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary
to enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 
 (iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied; provided that, with respect to matters of fact, an Opinion of Counsel may rely
on an Officers’ Certificate and certificates of public officials. 
  

	SECTION 11.6	RULES BY TRUSTEE AND AGENTS. 

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

 66 

	SECTION 11.7	NO PERSONAL LIABILITY OF DIRECTORS, OFFICERS, EMPLOYEES
AND SHAREHOLDERS. 

 NO STOCKHOLDER,
OFFICER OR DIRECTOR, AS SUCH, PAST, PRESENT OR FUTURE, OF THE COMPANY
OR ANY SUBSIDIARY GUARANTOR, SHALL HAVE ANY PERSONAL LIABILITY FOR ANY
OBLIGATIONS OF THE COMPANY OR SUCH SUBSIDIARY GUARANTOR UNDER THE NOTES,
THIS INDENTURE OR THE SUBSIDIARY GUARANTEES, AS THE CASE MAY BE, BY
REASON OF HIS OR HER OR ITS STATUS AS SUCH STOCKHOLDER, OFFICER
OR DIRECTOR. EACH HOLDER BY ACCEPTING A NOTE WAIVES AND RELEASES ALL
SUCH LIABILITY. THE WAIVER AND RELEASE ARE PART OF THE CONSIDERATION
FOR ISSUANCE OF THE NOTES AND THE SUBSIDIARY GUARANTEES. SUCH WAIVER
MAY NOT BE EFFECTIVE TO WAIVE LIABILITIES UNDER THE FEDERAL SECURITIES
LAWS, AND IT IS THE VIEW OF THE COMMISSION THAT SUCH A
WAIVER IS AGAINST PUBLIC POLICY. 
  

	SECTION 11.8	GOVERNING LAW. 

 THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES AND THE SUBSIDIARY GUARANTEES. 
  

	SECTION 11.9	NO ADVERSE INTERPRETATION OF OTHER AGREEMENTS.

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

	SECTION 11.10	SUCCESSORS. 

 All agreements of the Company or any Subsidiary Guarantor in this Indenture, the Subsidiary Guarantees and the Notes shall bind its successors and as provided herein, its assigns. All agreements of the Trustee in this Indenture shall bind
its successors. 
  

	SECTION 11.11	SEVERABILITY. 

 In case any provision in this Indenture or in the Notes 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. 
  

	SECTION 11.12	COUNTERPART ORIGINALS. 

 The parties hereto 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. 
  

	SECTION 11.13	TABLE OF CONTENTS, HEADINGS, ETC . 

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

 67 

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

							
	“COMPANY”
	
	 RAM ENERGY RESOURCES, INC., a Delaware corporation
  

				
	By  	 	 	 	 	 	 
		 	Name:	 	 	 	 
		 	Title:	 	 	 	 

  
  
  

									
	 “SUBSIDIARY GUARANTORS”
  
	 	
		
		 	
	 “TRUSTEE”
  
	 	
					
	 	 	 	 	 	 	 	 	, 
	as Trustee	 	
		 		 		 		 	

  
  

							
				
	By  	 	 	 	 	 	 
		 	Name:	 	 	 	 
		 	Title:	 	 	 	 

  

 68Exhibit 10.1

 Exhibit 10.1 
 Execution Copy 
 SECURITIES PURCHASE AND
EXCHANGE AGREEMENT 
 THIS SECURITIES PURCHASE AND EXCHANGE AGREEMENT, dated as of January 12, 2010 (this
“Agreement”), by and between Luna Innovations Incorporated, a Delaware corporation with headquarters located at One Riverside Circle, Suite 400, Roanoke, VA 24016 (the “Company”), and Carilion Clinic, a Virginia
non-profit, non-stock corporation (the “Investor”). 
 RECITALS 
 A. The Company and the Investor are executing and delivering this Agreement in reliance upon exemptions from registration afforded by
(i) Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation D (“Regulation D”) as promulgated by the United States Securities and Exchange Commission (the
“SEC”) under the Securities Act, and (ii) Section 3(a)(9) of the Securities Act. 
 B. The Company
has authorized a new series of convertible preferred shares of the Company designated as Series A Convertible Preferred Stock, par value $0.001 per share, the terms of which are set forth in the certificate of designations for such series of
preferred shares (the “Certificate of Designations”) in the form attached hereto as Exhibit A (together with any convertible preferred shares issued in replacement thereof in accordance with the terms thereof, the
“Preferred Shares”), which Preferred Shares shall be convertible under certain conditions, into shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”), in accordance with the
terms of the Certificate of Designations. The shares of Common Stock issued upon conversion of the Preferred Shares are referred to herein, collectively, as the “Conversion Shares.” 
 C. The Investor wishes to exchange (the “Exchange”), upon the terms and conditions stated in this Agreement, all of
the outstanding Convertible Promissory Notes (the “Notes”) issued pursuant to the Class C Common Stock and Note Purchase Agreement dated December 30, 2005 between the Company and Investor for 1,321,514 Preferred Shares such
that all outstanding principal under the Notes would be treated as retired and all accrued and unpaid interest under the Notes would be treated as paid in full. In addition, as part of the Exchange, the Company will also issue to the Investor new
warrants (the “New Warrants”), in substantially the form attached hereto as Exhibit B, to purchase an aggregate of an additional 356,000 shares of Common Stock with an exercise price of $2.50 per share. The exercise price of
the existing warrants currently held by the Investor (the “Existing Warrants,” together with the New Warrants, the “Warrants”) to purchase 10,000 shares of the Company’s Common Stock shall be amended to reduce
the exercise price of such Existing Warrants to $2.50 per share and to extend the expiration date of such Existing Warrants to December 31, 2020 (the shares of Common Stock issuable upon exercise of or otherwise pursuant to the Warrants issued
to the Investor, collectively, the “Warrant Shares”). 

 D. The Preferred Shares, the Conversion Shares, the Warrants and the Warrant Shares issued
or issuable pursuant to this Agreement are collectively referred to herein as the “Securities.” 
 E. The
parties expect that the United States Bankruptcy Court for the Western District of Virginia (the “Bankruptcy Court”) will grant an order approving the First Amended Joint Plan of Reorganization of Luna Innovations Incorporated
and Luna Technologies, Inc, dated December 18, 2009 (as it may be further amended, and together with the Exhibits thereto, the “Plan”), for emergence from the Company’s current bankruptcy proceeding under Chapter 11 of
the Bankruptcy Code (as hereinafter defined). 
 NOW, THEREFORE, IN CONSIDERATION of the foregoing recitals and mutual promises,
representations, warranties, and 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 Investor agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, the following
terms have the meanings indicated: 
 “8-K Filing” has the meaning set forth in Section 4.5.

 “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 144 under the Securities Act. 
 “Agreement” has the meaning set forth in the Preamble. 
 “Bankruptcy Code” means the United States Bankruptcy Code, 11 U.S.C. §§ 101 et seq., as amended, or any successor thereto, and any rules and regulations promulgated thereunder. 
 “Bankruptcy Court” has the meaning set forth in the Recitals. 
 “Best Efforts” means the efforts that a prudent person desirous of achieving a result would use in similar circumstances to
ensure that such result is achieved as expeditiously as practical unless such efforts would result in a Material Adverse Effect on the Company, provided all costs and expenses that will be necessary for the Company to incur in order to satisfy its
obligations under the Registration Rights Agreement pursuant to a request to register shares of Common Stock pursuant to the Investor’s rights under the Registration Rights Agreement shall not be deemed, in and of itself, to be a Material
Adverse Effect on the Company. 
 “Board of Directors” means the board of directors of the Company. 

“Business Day” means any day other than Saturday, Sunday, any day which shall be 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. 
  

 -2- 

 “Certificate of Designations” has the meaning set forth in the Recitals.

 “Closing” means the closing of the purchase and sale of the Securities pursuant to Article II.

 “Closing Date” means such date as soon as practicable following the Plan Effective Date. 
 “Company” has the meaning set forth in the Recitals. 
 “Company Counsel” means Proskauer Rose LLP, counsel to the Company. 
 “Company Disclosure Schedule” means the disclosure schedule dated the date hereof regarding this Agreement that has been
provided by the Company to the Investor. 
 “Common Stock” has the meaning set forth in the Recitals.

 “Convertible Securities” means any stock or securities (other than Options) convertible into or exercisable
or exchangeable for Common Stock. 
 “Conversion Shares” has the meaning set forth in the Recitals. 

“Disclosure Materials” means the SEC Reports, the Agreement and the Company Disclosure Schedule. 
 “Effective Date” means the date that the Registration Statement is first declared effective by the SEC. 
 “Equity Incentive Plans” mean the Company’s 2003 Stock Plan, the 2006 Equity Incentive Plan, and any other
compensation plan approved by the Company’s Board of Directors or Compensation Committee pursuant to which Options or Common Stock may be issued to the Company’s directors, officers, employees or persons who provide services to the
Company. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Existing Warrants” has the meaning set forth in the Recitals. 
 “GAAP” means generally accepted accounting principles in the United States. 
 “Indebtedness” has the meaning set forth in Section 3.1(o). 
 “Investor” has the meaning set forth in the Preamble. 
 “Lien” means any lien, charge, claim, security interest, encumbrance or, with respect to any security, any purchase option,
call or similar right. 
 “Losses” means any and all losses, claims, damages, liabilities, settlement costs and
expenses, including, without limitation, reasonable attorneys’ fees. 
  

 -3- 

 “Material Adverse Effect” means a material adverse change or any material
development involving a prospective adverse change, in or adversely affecting the management, financial position, stockholders’ equity or results of operations of the Company, provided, an order approving the Plan shall not be deemed to be a
Material Adverse Effect. 
 “Material Permits” has the meaning set forth in Section 3.1(n).

 “New Warrants” has the meaning set forth in the Recitals. 
 “Options” means any outstanding rights, warrants or options to subscribe for or purchase Common Stock or Convertible
Securities. 
 “Person” means an individual, a limited liability company, a partnership, joint venture, a
corporation, a trust, an unincorporated organization, a government or any department or agency thereof and any other legal entity. 
 “Plan” has the meaning set forth in the Recitals. 
 “Plan Effective Date” means the
effective date of the Plan following an order by the Bankruptcy Court approving the Plan. 
 “Preferred Shares”
has the meaning set forth in the Recitals. 
 “Proceeding” means an action, claim, suit, investigation or
proceeding (including, without limitation, a partial proceeding, such as a deposition), whether commenced or threatened in writing. 
 “Prospectus” means the prospectus included in the Registration Statement (including, without limitation, a prospectus that includes any information previously omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by the
Registration Statement, and all other amendments and supplements to the Prospectus including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 
 “Registrable Securities” means (i) the Conversion Shares issued or issuable upon conversion of the Preferred Shares,
(ii) the Warrant Shares issued or issuable upon exercise of the Warrants and (iii) any share capital of the Company issued or issuable, with respect to the Conversion Shares, the Preferred Shares, the Warrant Shares or the Warrants as a
result of any share split, share dividend, recapitalization, exchange or similar event or otherwise, without regard to any limitations on conversions of the Preferred Shares or exercises of the Warrants. 
 “Registration Rights Agreement” means the Amended and Restated Investor Rights Agreement between the Company and Investor
and certain stockholders of the Company in the form attached hereto as Exhibit G. 
 “Registration
Statement” means each registration statement required to be filed pursuant to the Registration Rights Agreement, including (in each case) the Prospectus,

  

 -4- 

 
amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference or deemed
to be incorporated by reference in such registration statement. 
 “Regulation D” has the meaning set forth in
the Recitals. 
 “Rule 144” and “Rule 424” means Rule 144 and Rule 424,
respectively, promulgated by the SEC pursuant to the Securities Act, as such Rules may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC having substantially the same effect as such Rule. 
 “SEC” has the meaning set forth in the Recitals. 
 “SEC Reports” means such reports required to be filed by the Company under the Exchange Act, including pursuant to
Section 13(a) or 15(d) thereof, together with any materials filed or furnished by the Company under the Exchange Act. 
 “Securities” has the meaning set forth in the Recitals. 
 “Securities Act” has the
meaning set forth in the Recitals. 
 “Short Sales” has the meaning set forth in Section 3.2(i).

 “Subsidiary” means any direct or indirect subsidiary of the Company that is a “significant
subsidiary” as defined in Rule 1-07(w) of Regulation S-X promulgated by the SEC. 
 “Trading Day” means
(i) a day on which the Common Stock is traded on a Trading Market (other than the OTC Bulletin Board), or (ii) if the Common Stock is not listed or quoted on a Trading Market (other than the OTC Bulletin Board), a day on which the Common
Stock is traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not listed or quoted on any Trading Market, a day on which the Common Stock is quoted in the over-the-counter market as
reported by the Pink Sheets LLC (or any similar organization or agency succeeding to its functions of reporting prices); provided, that in the event that the Common Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof,
then Trading Day shall mean a Business Day. 
 “Trading Market” means whichever of the New York Stock Exchange,
the American Stock Exchange, the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market or OTC Bulletin Board on which the Common Stock is listed or quoted for trading on the date in question. 
 “Transaction” has the meaning set forth in Section 3.2(i). 
 “Transaction Documents” means this Agreement, the Registration Rights Agreement, the Warrants, the Certificate of
Designations, the Transfer Agent Instructions, and all schedules and exhibits attached hereto. 
 “Transfer
Agent” means The American Stock Transfer & Trust Company, or any successor transfer agent for the Company. 
  

 -5- 

 “Transfer Agent Instructions” means, with respect to the Company, the
irrevocable Transfer Agent Instructions, in the form of Exhibit E, executed by the Company and delivered to and acknowledged in writing by the Transfer Agent. 
 “Warrants” has the meaning set forth in the Recitals. 
 “Warrant Shares” has the meaning set forth in the Recitals. 
 ARTICLE II 
 PURCHASE, SALE AND EXCHANGE 
 2.1 Closing. Subject to the terms and conditions set forth in this Agreement, at the Closing the Company shall issue and sell to the Investor, and the Investor shall purchase from the Company,
(i) 1,321,514 Preferred Shares at a price per share of $4.69159, and (ii) New Warrants to purchase an additional 356,000 shares of Common Stock at an exercise price of $2.50 per share of Common Stock. The Securities shall be issued by the
Company to Investor in consideration for the Exchange of all outstanding Notes held by Investor. Investor agrees that upon consummation of such Exchange that all outstanding principal and all accrued and unpaid interest due under the Notes shall be
treated as paid in full. In addition, as part of the Exchange, the Company and Investor shall amend the terms of the Existing Warrants to reduce the exercise price of such Existing Warrants to $2.50 per share of Common Stock and to extend the
expiration date of such Existing Warrants to December 31, 2020. The date and time of the Closing shall be as soon as practicable following the Plan Effective Date. The Closing shall take place at the offices of the Company’s Counsel at
1001 Pennsylvania Ave. NW, Suite 400 South, Washington, DC, 20004-2533. 
 2.2 Closing Deliveries. 
 (a) At or immediately prior to the Closing, the Company shall deliver or cause to be delivered to the Investor the following:

 (i) a copy of the Company’s Transfer Agent Instructions in substantially the form attached hereto as Exhibit E;

 (ii) a certificate representing the Preferred Shares duly executed by the Company’s authorized executive officers;

 (iii) a warrant agreement for the New Warrants, issued in the name of the Investor, pursuant to which the Investor shall
have the right to acquire 356,000 Warrant Shares, registered in the name of the Investor, in substantially the form attached hereto as Exhibit B; 
 (iv) an amended and restated warrant agreement for the Existing Warrants with a reduction of the exercise price of such Existing Warrants to $2.50 per share of Common Stock; 
  

 -6- 

 (v) a Registration Rights Agreement in the form attached hereto as Exhibit G for
execution by all requisite parties to such agreement pursuant to which the Company covenants to Investor to register the resale of the Registrable Securities pursuant to the terms and conditions of the Registration Rights Agreement; 
 (vi) a certificate of the Secretary of the Company, dated as of the Closing Date, (a) certifying the resolutions adopted by the Board
of Directors of the Company approving the transactions contemplated by this Agreement and the other Transaction Documents and the issuance of the Securities, (b) certifying the current versions of the certificate of incorporation, as amended,
and by-laws of the Company, and (c) certifying as to the signatures and authority of persons signing the Transaction Documents and related documents on behalf of the Company; 
 (vii) a certificate of the Chief Executive Officer or Chief Financial Officer of the Company, dated as of the Closing Date, certifying to
the fulfillment of the conditions specified in Section 5.1(a) and (b); and 
 (viii) a legal opinion of
Company Counsel, substantially in the form of Exhibit F signed by Company Counsel and delivered to the Investor. 
 (b) At or immediately prior to the Closing, the Company and Investor shall deliver, cause to be delivered or otherwise shall effect, as may be applicable, the following: 
 (i) The Investor shall deliver to the Company all original Notes and all original Existing Warrants marked “cancelled”;

 (ii) The Company and the Investor shall execute and enter into all Transaction Documents; and 
 (iii) The Company shall adopt and file with the Secretary of State of Delaware on or before the Closing the Certificate of Designations in
the form attached hereto as Exhibit A. 
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES 
 3.1
Representations and Warranties of the Company. Except as set forth in the Company Disclosure Schedule delivered herewith and dated as of the date hereof, or as disclosed in a document filed by the Company with the SEC and publicly available
prior to the date hereof, the Company represents and warrants to the Investor: 
 (a) Subsidiaries. Except
as set forth on the Company Disclosure Schedule, the Company owns or controls, directly or indirectly, all of the capital stock or comparable equity interests of each Subsidiary free and clear of any Lien, and all issued and outstanding shares of
capital stock or comparable equity interest of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights; and the Company owns or controls, directly or indirectly, only the corporations,
partnerships, limited liability

  

 -7- 

 
partnerships, limited liability companies, associations or other entities as set forth on the Company Disclosure Schedule (each, a “Subsidiary”). 
 (b) Organization and Qualification. The Company and each Subsidiary is an entity duly organized, validly existing and
in good standing under the laws of the jurisdiction of its incorporation, with the requisite legal authority to own and use its properties and assets and to carry on its business as currently conducted. Except as set forth on the Company Disclosure
Schedule, neither the Company nor any Subsidiary is in violation of any of the provisions of its respective certificate or articles of incorporation, bylaws, Certificate of Designations or other organizational or charter documents. The Company and
each Subsidiary is duly qualified to do 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, would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect. 
 (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 to which it is a party and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of each of the Transaction Documents to which it is
a party by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action on the part of the Company and no further consent or action is required by the Company,
its Board of Directors or its stockholders. Each of the Transaction Documents to which it is a party has been (or upon delivery will be) duly executed by the Company and is, or when delivered in accordance with the terms hereof, 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, receivership, fraudulent
conveyance or transfer, preferential transfer, 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, regardless of whether such enforcement is considered in a proceeding in equity or at law, and (iii) insofar as indemnification and contribution provisions may be limited by applicable law. 
 (d) No Conflicts. The execution, delivery and performance of the Transaction Documents to which the Company is a party
by the Company and the consummation by the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance of the Preferred Shares and the Warrants, and the reservation for issuance of the Conversion Shares
and Warrant Shares) 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, 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, except to the extent that such conflict, default,

  

 -8- 

 
termination, amendment, acceleration or cancellation right would not reasonably be expected to have a Material Adverse Effect, or (iii) 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 any Subsidiary is subject (including, assuming the accuracy of the representations and warranties of the Investor set forth in
Section 3.2 hereof, federal and state securities laws and regulations and the rules and regulations of any self-regulatory organization to which the Company or its securities are subject, including all applicable Trading Markets), or by
which any property or asset of the Company or any Subsidiary are bound or affected, except to the extent that such violation would not reasonably be expected to have a Material Adverse Effect. 
 (e) The Securities. The Securities 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 taxes, Liens and charges with respect to the issue thereof and will not be subject to preemptive or similar rights of stockholders (other
than those imposed by the Investor), and the Preferred Shares shall be entitled to the rights and preferences set forth in the Certificate of Designations. The Company has reserved from its duly authorized capital stock the maximum number of shares
of Common Stock issuable upon exercise of the Warrants and the conversion of the Preferred Shares. 
 (f)
Capitalization. The approximate aggregate number of shares and type of all authorized, issued and outstanding classes of capital stock, options and other securities of the Company (whether or not presently convertible into or exercisable or
exchangeable for shares of capital stock of the Company) as of the date hereof is set forth on the Company Disclosure Schedule. All outstanding shares of capital stock are duly authorized, validly issued, fully paid and nonassessable and have been
issued in compliance in all material respects with all applicable securities laws. Except for Options or Common Stock issued pursuant to the Company’s Equity Incentive Plans or as set forth on the Company Disclosure Schedule, the Company did
not have outstanding at December 31, 2009 any other Options, script 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 entered into any agreement giving any Person any right to subscribe for or acquire, any Preferred Shares or shares of Common Stock, or securities or rights convertible, exercisable or exchangeable into shares of Common Stock (other than the
Preferred Shares and Warrants). Except as set forth on the Company Disclosure Schedule, and except for customary adjustments as a result of stock dividends, stock splits, combinations of shares, reorganizations, recapitalizations, reclassifications
or other similar events, there are no anti-dilution or price adjustment provisions contained in any security issued by the Company (or in any agreement providing rights to security holders) and the issuance and sale of the Securities will not
obligate the Company to issue Preferred Shares or shares of Common Stock or other securities to any Person (other than the Investor) and will not result in a right of any holder of securities to adjust the exercise, conversion, exchange or reset
price under such securities. To the knowledge of the Company, except as disclosed in the SEC Reports and any Schedules 13D or 13G filed with the SEC pursuant to Rule 13d-1 of the Exchange Act by reporting persons or as set forth on the Company
Disclosure Schedule, no Person or group of related Persons beneficially owns (as determined pursuant to Rule 13d-3 under the

  

 -9- 

 
Exchange Act), or has the right to acquire, by agreement with or by obligation binding upon the Company, beneficial ownership of in excess of 5% of the outstanding Common Stock. To the
Company’s knowledge and based on (i) the publicly disclosed beneficial ownership of the Investor’s outstanding shares of the Company’s Common Stock as of December 29, 2009, which the Company believes to be equal to 2,228,198
shares, (ii) the 1,321,514 shares of Common Stock that will be issuable upon conversion of the Preferred Shares immediately following the Exchange, (iii) the 366,000 shares of Common Stock issuable upon exercise of the Warrants, on the one
hand, and based upon (i) the total outstanding shares of the Company’s Common Stock as of December 29, 2009, which amount was equal to 11,351,967, (ii) the total number of shares of the Company’s Common Stock issuable upon
exercise of the Company’s outstanding options as of December 29, 2009, which amount was equal to 4,603,006 shares as of December 31, 2009, (iii) the 1,321,514 shares of Common Stock that will be issuable upon conversion of the
Preferred Shares immediately following the Exchange, (iv) the 356,000 shares of Common Stock issuable upon exercise of the New Warrants, and (v) and approximately 1,247,330 shares of Common Stock to be issued to Hansen Medical, Inc in
connection with the Plan, on the other hand, the Company believes that the Investor will beneficially own approximately 20.74% of the Company’s Common Stock, on a fully diluted, “as converted” basis immediately following the closing
of the Exchange (assuming the accuracy of the foregoing assumptions). 
 (g) Material Changes; Undisclosed
Events, Liabilities or Developments; Solvency. Since the date of the last Form 10-Q filed with the SEC, except as disclosed in the SEC Reports or as set forth on the Company Disclosure Schedule, (i) there has been no event, occurrence or
development that, individually or in the aggregate, has had or that would result in a Material Adverse Effect, (ii) the Company has not incurred any material liabilities 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 required to be disclosed in filings made with the SEC, (iii) the
Company has not altered its method of accounting or changed its auditors, except as disclosed in its SEC Reports, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders, in their
capacities as such, 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 the
Company’s Equity Incentive Plan, as amended. 
 (h) Absence of Litigation. Except as disclosed in the
SEC Reports or as set forth on the Company Disclosure Schedule, there is no action, suit, claim, or Proceeding, or, to the Company’s knowledge, inquiry or investigation, before or by any court, public board, government agency, self-regulatory
organization or body pending or, to the knowledge of the Company, threatened against or affecting the Company or any Subsidiary that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (i) No General Solicitation; Placement Agent’s Fees. Neither the Company, nor any of its Affiliates, nor any
Person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Securities. The Company shall be responsible for the
payment of any placement agent’s fees, financial advisory fees, or brokers’ commission (other than for persons engaged by the Investor or its investment advisor) relating to or

  

 -10- 

 
arising out of the issuance of the Securities pursuant to this Agreement. The Company shall pay, and hold the Investor harmless against, any liability, loss or expense (including, without
limitation, reasonable attorney’s fees and out-of-pocket expenses) arising in connection with any such claim for fees arising out of the issuance of the Securities pursuant to this Agreement. 
 (j) Private Placement; Investment Company; U.S. Real Property Holding Corporation. Neither the Company nor any of its
Affiliates nor, any Person acting on the Company’s behalf has, directly or indirectly, at any time within the past six months, made any offer or sale of any security or solicitation of any offer to buy any security under circumstances that
would (i) eliminate the availability of the exemption from registration under Regulation D under the Securities Act in connection with the offer and sale by the Company of the Securities as contemplated hereby or (ii) cause the
offering of the Securities pursuant to the Transaction Documents to be integrated with prior offerings by the Company for purposes of any applicable law, regulation or stockholder approval provisions, including, without limitation, under the rules
and regulations of any Trading Market. Assuming the accuracy of the representations and warranties of the Investor set forth in Section 3.2, no registration under the Securities Act is required for the offer and sale of the Securities by the
Company to the Investor as contemplated hereby. The sale and issuance of the Securities hereunder does not contravene the rules and regulations of any Trading Market on which the Common Stock is listed or quoted. 
 (k) Registration Rights. Except (i) as set forth in the Registration Rights, and (ii) as otherwise set forth
on the Company Disclosure Schedule, the Company has not granted or agreed to grant to any Person any rights (including “piggy-back” registration rights) to have any securities of the Company registered with the SEC or any other
governmental authority that have not expired or been satisfied or waived. 
 (l) Application of Takeover
Protections. The Company and its Board of Directors have taken all necessary action, if any, 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 charter documents or the laws of its state of incorporation that is or could become applicable to any of the Investor as a result of the Investor 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 Securities and the Investor’s ownership of the Securities. 
 (m) Acknowledgment Regarding Investor’s Purchase of Securities. Based upon the assumption that the transactions
contemplated by this Agreement are consummated in all material respects in conformity with the Transaction Documents, the Company acknowledges and agrees that the Investor is acting solely in the capacity of an arm’s length purchaser with
respect to the Transaction Documents and the transactions contemplated hereby and thereby. The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect
to this Agreement and the transactions contemplated hereby and any advice given by any Investor or any of their respective representatives or agents in connection with the Transaction Documents and the transactions contemplated hereby and thereby is
merely incidental to the Investor’s purchase of the Securities. The Company further represents to the Investor that

  

 -11- 

 
the Company’s decision to enter into this Agreement has been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its advisors and
representatives. 
 (n) Regulatory Permits. The Company and each Subsidiary possesses all certificates,
authorizations and permits issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as presently conducted and described in the SEC Reports (“Material
Permits”), except where the failure to possess such permits is described in the SEC Reports or does not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, and neither the Company nor
any Subsidiary has received any written notice of proceedings relating to the revocation or modification of any Material Permit. 
 (o) Indebtedness. Except as disclosed in the SEC Reports or as set forth on the Company Disclosure Schedule, neither the Company nor any Subsidiary (i) has any outstanding Indebtedness (as
defined below), (ii) is in violation in any material respect of any term of or is in default in any material respect under any contract, agreement or instrument relating to any Indebtedness, except where such violations and defaults would not
result, individually or in the aggregate, in a Material Adverse Effect, or (iii) is a party to any contract, agreement or instrument relating to any Indebtedness, the performance of which, in the judgment of the Company’s officers, has or
is expected to have a Material Adverse Effect. For purposes of this Agreement: (x) “Indebtedness” of any Person means, without duplication (A) all indebtedness for borrowed money, (B) all reimbursement or payment obligations
with respect to letters of credit, surety bonds and other similar instruments, (C) all obligations evidenced by notes, bonds, debentures or similar instruments, including obligations so evidenced incurred in connection with the acquisition of
property, assets or businesses, and (E) all indebtedness referred to in clauses (A) through (E) above secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any
mortgage, lien, pledge, charge, security interest or other encumbrance upon or in any property or assets (including accounts and contract rights) owned by any Person, even though the Person which owns such assets or property has not assumed or
become liable for the payment of such indebtedness. 
 3.2 Representations and Warranties of the Investor. The Investor
hereby represents and warrants to the Company as follows: 
 (a) Organization; Authority. The Investor is
an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization with the requisite corporate, partnership or other 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 purchase by the Investor of the Securities hereunder has been duly authorized by all necessary corporate, partnership or other action
on the part of the Investor. This Agreement has been duly executed and delivered by the Investor and constitutes the valid and binding obligation of the Investor, 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. 
  

 -12- 

 (b) No Public Sale or Distribution. The Investor is
(i) acquiring the Preferred Shares and the New Warrants, (ii) upon conversion of the Preferred Shares will acquire the Conversion Shares, and (iii) upon exercise of the Warrants will acquire the Warrant Shares issuable upon exercise
thereof, in each case in the ordinary course of business for its own account and not with a view towards, or for resale in connection with, the public sale or distribution thereof, except pursuant to sales registered under the Securities Act or
under an exemption from such registration and in compliance with applicable federal and state securities laws, and the Investor does not have a present arrangement to effect any distribution of the Securities to or through any person or entity;
provided, however, that by making the representations herein, the Investor does not agree to hold any of the Securities for any minimum or other specific term and reserves the right to dispose of the Securities at any time in
accordance with or pursuant to a registration statement or an exemption under the Securities Act. 
 (c)
Investor Status. At the time the Investor was offered the Securities, it was, at the date hereof it is, on the date which it exercises any Warrants and on the date which it converts any Preferred Shares it will be, an “accredited
investor” as defined in Rule 501(a) under the Securities Act or a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act. The Investor is not a registered broker dealer registered under Section 15(a)
of the Exchange Act, or a member of FINRA, Inc. or an entity engaged in the business of being a broker dealer. Except as otherwise disclosed in writing to the Company on Exhibit C-2 (attached hereto) on or prior to the date of this Agreement,
the Investor is not affiliated with any broker dealer registered under Section 15(a) of the Exchange Act, or a member of FINRA, Inc. or an entity engaged in the business of being a broker dealer. 
 (d) General Solicitation. The Investor is not purchasing the Securities as a result of any advertisement, article,
notice or other communication regarding the Securities published in any newspaper, magazine or similar media, broadcast over television or radio, disseminated over the Internet or presented at any seminar or any other general solicitation or general
advertisement. 
 (e) Experience of the Investor. The Investor, 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 Securities, and has so evaluated the merits and risks of
such investment. The Investor understands that it must bear the economic risk of this investment in the Securities indefinitely, and is able to bear such risk and is able to afford a complete loss of such investment. 
 (f) Access to Information. The Investor acknowledges that it has reviewed the Disclosure Materials and has been
afforded: (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Securities and the merits and risks of
investing in the Securities; (ii) access to information (other than material non-public information about the Company) and each Subsidiary and their respective financial

  

 -13- 

 
condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional
information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. Neither such inquiries nor any other investigation conducted by or
on behalf of the Investor or its representatives or counsel shall modify, amend or affect the Investor’s right to rely on the truth, accuracy and completeness of the Disclosure Materials and the Company’s representations and warranties
contained in the Transaction Documents. The Investor acknowledges receipt of copies of the SEC Reports. 
 (g)
No Governmental Review. The Investor understands that no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or
suitability of the investment in the Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities. 
 (h) No Conflicts. The execution, delivery and performance by the Investor of this Agreement and the consummation by the Investor of the transactions contemplated hereby will not (i) result in
a violation of the organizational documents of the Investor or (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Investor is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities
laws) applicable to the Investor, except in the case of clauses (ii) and (iii) above, for such that are not material and do not otherwise affect the ability of the Investor to consummate the transactions contemplated hereby. 
 (i) Prohibited Transactions; Confidentiality. Neither the Investor, directly or indirectly, nor Person acting on
behalf of or pursuant to any understanding with the Investor, has engaged in any purchases or sales (including, without limitation, any Short Sales involving any of the Company’s securities) in the securities, including derivatives, of the
Company (a “Transaction”) since the time that the Investor was first contacted by the Company or any other Person regarding an investment in the Company. The Investor covenants that neither it nor any Person acting on its behalf or
pursuant to any understanding with the Investor will engage, directly or indirectly, in any Transactions in the securities of the Company (including Short Sales) prior to the time the transactions contemplated by this Agreement are publicly
disclosed. “Short Sales” include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act and all types of direct and indirect stock pledges, forward sale
contracts, options, puts, calls, short sales, swaps, derivatives and similar arrangements (including on a total return basis), and sales and other transactions through non-U.S. broker-dealers or foreign regulated brokers. 
 (j) Restricted Securities; Reliance on Exemptions. The Investor understands that the Securities are being offered and
sold to it in reliance on specific exemptions from the registration requirements of United States federal and state securities laws and, thus, are characterized as “restricted securities” under the U.S. federal securities laws inasmuch as
they are being acquired from the Company in a transaction not involving a public offering

  

 -14- 

 
and that under such laws and applicable regulations such securities may be resold without registration under the Securities Act only in certain limited circumstances. The Investor further
understands that the Company is relying in part upon the truth and accuracy of, and the Investor’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of the Investor set forth herein in order to
determine the availability of such exemptions and the eligibility of the Investor to acquire the Securities. 
 (k) Legends. It is understood that, except as provided in Section 4.1(b) of this Agreement, certificates evidencing such Securities may bear the legend set forth in Section 4.1(b). 
 (l) No Legal, Tax or Investment Advice. The Investor understands that nothing in this Agreement or any other materials
presented by or on behalf of the Company to the Investor in connection with the purchase of the Securities constitutes legal, tax or investment advice. The Investor has consulted such legal, tax and investment advisors as it, in its sole discretion,
has deemed necessary or appropriate in connection with its purchase of the Securities. 
 ARTICLE IV 
 OTHER AGREEMENTS OF THE PARTIES 
 4.1 Transfer Restrictions. 
 (a) The Investor covenants that
the Securities will only be disposed of pursuant to an effective registration statement under, and in compliance with the requirements of, the Securities Act or pursuant to an available exemption from the registration requirements of the Securities
Act, and in compliance with any applicable state securities laws. In connection with any transfer of Securities other than pursuant to an effective registration statement or to the Company, or pursuant to Rule 144, the Company may require the
transferor to provide to the Company an opinion of counsel selected by the transferor, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration under the
Securities Act. Notwithstanding the foregoing, the Company hereby consents to and agrees to register on the books of the Company and with its Transfer Agent, without any such legal opinion, except to the extent that the transfer agent requests such
legal opinion, any transfer of Securities by the Investor to an Affiliate of the Investor, provided that the transferee certifies to the Company that it is an “accredited investor” as defined in Rule 501(a) under the Securities Act and
provided that such Affiliate does not request any removal of any existing legends on any certificate evidencing the Securities. 
 (b) The Investor agrees to the imprinting, until no longer required by this Section 4.1(b), of the following legend on any certificate evidencing any of the Securities: 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE
SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR

  

 -15- 

 
OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT, THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO REGISTRATION
OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS. THESE SECURITIES 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. 
 Certificates evidencing the Preferred Shares and the Warrant Shares shall not be required to
contain such legend or any other legend (i) while a registration statement (including the Registration Statement) covering the resale of the Preferred Shares and the Warrant Shares is effective under the Securities Act, (ii) following any
sale of such Securities pursuant to Rule 144 if the holder provides the Company with a legal opinion reasonably acceptable to the Company to the effect that the Securities can be sold under Rule 144, (iii) if the Securities are eligible for
sale without any volume limitation under Rule 144, or (iv) if the holder provides the Company with a legal opinion reasonably acceptable to the Company to the effect that the legend is not required under applicable requirements of the
Securities Act (including controlling judicial interpretations and pronouncements issued by the Staff of the SEC). The Company shall cause its counsel to issue the legal opinion included in the Transfer Agent Instructions to the Transfer Agent on
the Effective Date. Following the Effective Date and provided the registration statement referred to in clause (i) above is then in effect, or at such earlier time as a legend is no longer required for certain Securities, the Company will, no
later than three Trading Days following the delivery by the Investor to the Company or the Transfer Agent (if delivery is made to the Transfer Agent a copy shall be contemporaneously delivered to the Company) of (i) a legended certificate
representing such Securities (and, in the case of a requested transfer, endorsed or with stock powers attached, signatures guaranteed, and otherwise in form necessary to affect transfer), and (ii) an opinion of counsel to the extent required by
Section 4.1(a), deliver or cause to be delivered to the Investor a certificate representing such Securities 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. 
 (c) The Company will not object to
and shall permit (except as prohibited by law) the Investor to pledge or grant a security interest in some or all of the Securities in connection with a bona fide margin agreement with a registered broker-dealer or grant a security interest in some
or all of the Securities to a financial institution that is an “accredited investor” as defined in Rule 501(a) under the Securities Act and who agrees to be bound by the provisions of this Agreement, and if required under the terms of such
arrangement, the Company will not object to and shall permit (except as prohibited by law) the Investor to transfer pledged or secured Securities to the pledgees or secured parties. Except as required by law, such a pledge or

  

 -16- 

 
transfer would not be subject to approval of the Company, no legal opinion of the pledgee, secured party or pledgor shall be required in connection therewith (but such legal opinion shall be
required in connection with a subsequent transfer or foreclosure following default by the Purchaser transferee of the pledge), and no notice shall be required of such pledge. The Investor acknowledges that the Company shall not be responsible for
any pledges relating to, or the grant of any security interest in, any of the Securities or for any agreement, understanding or arrangement between the Investor and any pledgee or secured party. At the Investor’s expense, the Company will
execute and deliver such reasonable documentation as a pledgee or secured party of Securities may reasonably request in connection with a pledge or transfer of the Securities, including the preparation and filing of any required prospectus
supplement under Rule 424(b)(3) of the Securities Act or other applicable provision of the Securities Act to appropriately amend the list of Selling Stockholders thereunder. Provided that the Company is in compliance with the terms of this
Section 4.1(c), the Company’s indemnification obligations pursuant to the Registration Rights Agreement shall not extend to any Proceeding or Losses arising out of or related to this Section 4.1(c). 
 4.2 Furnishing of Information. Until the date that the Investor owning Preferred Shares or Warrant Shares may sell all of them
without any volume limitation under Rule 144 of the Securities Act (or any successor provision), the Company covenants to use its commercially reasonable efforts 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 the Exchange Act. 
 4.3
Integration. The Company and its Subsidiaries shall not, and shall use their commercially reasonable efforts to ensure that no Affiliate thereof shall, 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 Securities in a manner that would require the registration under the Securities Act of the sale of the Securities to the Investor or
that would be integrated with the offer or sale of the Securities for purposes of the rules and regulations of any Trading Market. 
 4.4 Reservation of Securities. The Company shall maintain a reserve from its duly authorized capital stock for issuance pursuant to the Transaction Documents in such amount as may be required to fulfill its obligations to issue such
Securities under the Transaction Documents. In the event that at any time the then authorized shares of Common Stock are insufficient for the Company to satisfy its obligations to issue such Securities under the Transaction Documents, the Company
shall promptly take such actions as may be required to increase the number of authorized shares. 
 4.5 Securities Laws
Disclosure; Publicity. The Company shall issue a press release disclosing all material terms of the transactions contemplated hereby and shall file a Current Report on Form 8-K with the SEC (the “8-K Filing”) describing the
terms of the transactions contemplated by the Transaction Documents and including as exhibits to such Current Report on Form 8-K the Transaction Documents and the form of Warrants, in the form required by the Exchange Act. Thereafter, the Company
shall timely file any filings and notices required by the SEC or applicable law with respect to the transactions contemplated hereby and provide copies thereof to the Investor promptly after filing. Except as herein provided, neither the Company nor
any Subsidiary shall publicly disclose the name of the Investor, or include the name of the

  

 -17- 

 
Investor in any press release without the prior written consent of the Investor (which consent shall not be unreasonably withheld or delayed), unless otherwise required by law, regulatory
authority or Trading Market. Neither the Company nor any Subsidiary shall, nor shall any of their respective officers, directors, employees and agents, provide the Investor with any material nonpublic information regarding the Company or any
Subsidiary from and after the issuance of the above referenced press release without the express written consent of the Investor. 
 4.6 Listing Approval. The Company covenants to use Best Efforts to obtain qualification and approval by the NASDAQ Stock Market LLC of all of the shares of Common Stock issuable upon conversion of the Preferred Shares and issuable
upon exercise of the Warrants for listing on the NASDAQ Capital Market, and any other Trading Market upon which the Company’s Common Stock is listed and is publicly traded. 
 4.7 Extension of Property Lease. The Company shall enter into an extension of the existing Amended Lease, dated July 20, 2006,
by and between Carilion Medical Center and the Company (the “Property Lease”) on customary and reasonable terms that are mutually acceptable to the Company and the Investor. The extension of the term of the Property Lease shall be
through December 31, 2015 with all terms consistent with existing terms and conditions, except that the Company agrees to waive Section 2A “Tenant’s Right to Terminate the Lease.” The Company and Investor shall execute such
extension of the Property Lease no later than March 31, 2010. 
 ARTICLE V 
 CONDITIONS 
 5.1
Conditions Precedent to the Obligations of the Investor. The obligation of the Investor to acquire Securities at the Closing is subject to the satisfaction or waiver by the Investor, at or before the Closing, of each of the following
conditions: 
 (a) Representations and Warranties. The representations and warranties of the Company
contained herein shall be true and correct in all material respects as of the date when made and as of the Closing as though made on and as of such date (except such representations and warranties that are made of a specific date shall be true and
correct at Closing as of such specific date); 
 (b) Performance. The Company shall have performed,
satisfied and complied in all material respects with all covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by it at or prior to the Closing, in all cases subject to the
Company’s rights and obligations as a Chapter 11 debtor and debtor-in-possession (each term as defined in the Bankruptcy Code); 
 (c) No Material Adverse Effect. As of the Closing Date, there will have been (i) since the Company’s unaudited financial statements for the quarter ended September 30, 2009, no
Material Adverse Effect and (ii) no litigation commenced which, if successful, would have a Material Adverse Effect on the Company or its business or which would challenge the transactions contemplated hereby; 
  

 -18- 

 (d) Qualifications. All authorizations, approvals or permits, if any,
of any governmental authority or regulatory body of the United States, of any state or any material agreement of the Company for the lawful issuance and sale of the Securities pursuant to this Agreement shall be duly obtained and effective as of the
Closing; 
 (e) Closing Documents. All closing documents and certificates required to be delivered by the
Company shall have been delivered to the Investor on or before the Closing Date; 
 (f) Confirmation of
Plan. The confirmation of the Plan by the Bankruptcy Court and occurrence of the Plan Effective Date shall have occurred; and 
 (g) Hansen Settlement Documents. The Hansen Settlement Documents (as defined in the Plan) shall have become effective. 
 (h) Opinion of Company’s Legal Counsel. The Investor shall have obtained, to its reasonable satisfaction, an
opinion from Company’s outside legal counsel that the Preferred Shares and Warrants (A) have been duly and validly authorized for issuance by all necessary corporate action by the Company and (B) when issued and sold by the Company
against consideration therefore pursuant to the terms of this Agreement, the Preferred Shares and Warrants will be validly issued, fully paid and non-assessable. 
 (i) NASDAQ Listing. The issuance of the Preferred Shares and Warrants shall comply with the listing requirements of
the NASDAQ capital market. 
 5.2 Conditions Precedent to the Obligations of the Company. The obligation of the Company
to sell the Securities at the Closing is subject to the satisfaction or waiver by the Company, at or before the Closing, of each of the following conditions: 
 (a) Representations and Warranties. The representations and warranties of the Investor contained herein shall be true
and correct in all material respects as of the date when made and as of the Closing Date as though made on and as of such date (except such representations and warranties that are made of a specific date shall be true and correct at Closing as of
such specific date); 
 (b) Performance. The Investor shall have performed, satisfied and complied in all
material respects with all covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by the Investor at or prior to the Closing; 
 (c) Opinion of Company’s Legal Counsel. The Company shall have obtained, to its reasonable satisfaction, an
opinion from Company’s outside legal counsel that the Preferred Shares and Warrants (A) have been duly and validly authorized for issuance by all necessary corporate action by the Company and (B) when issued and sold by the Company
against consideration therefore pursuant to the terms of this Agreement, the Preferred Shares and Warrants will be validly issued, fully paid and non-assessable; 
  

 -19- 

 (d) Closing Documents. All closing documents and certificates
required to be delivered by the Investor shall have been delivered to the Company on or before the Closing Date; 
 (e) Confirmation of Plan. The confirmation of the Plan by the Bankruptcy Court and occurrence of the Plan Effective Date shall have occurred; and 
 (f) Hansen Settlement Documents. The Hansen Settlement Documents (as defined in the Plan) shall have become effective.

 (g) NASDAQ Listing. The issuance of the Preferred Shares and Warrants shall comply with the listing
requirements of the NASDAQ capital market. 
 ARTICLE VI 
 MISCELLANEOUS 
 6.1 Termination. This Agreement
may be terminated by the Company or the Investor, by written notice to the other party, if the Plan Effective Date has not occurred by December 31, 2010. 
 6.2 Fees and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, the Company shall pay all reasonable and customary closing costs and attorneys’ fees of the
Investor for preparation of documents and appropriate due diligence review, with all such expenses to be paid at Closing, up to an aggregate maximum of $15,000. Each party shall pay all other fees and expenses of its 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 Transfer Agent fees, stamp taxes and other taxes and
duties levied in connection with the sale and issuance of the applicable Securities. 
 6.3 Entire Agreement. The
Transaction Documents, together with the exhibits and 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. At or after the Closing, and without further consideration, the Company will execute and deliver to the Investor such further documents as
may be reasonably requested in order to give practical effect to the intention of the parties under the Transaction Documents. 
 6.4 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 or email at the facsimile number or email address specified in this Section prior to 6:30 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 or email at the facsimile number or email address specified in this Section on a day that is not a Trading Day or later than 6:30 p.m. (New York City time) on any Trading Day,
(c) the Trading Day following the date of

  

 -20- 

 
deposit with a nationally recognized overnight courier service, or (d) upon actual receipt by the party to whom such notice is required to be given, in each case, addressed as follows:

 if to Investor: 
 CMC 
 213 S. Jefferson Street, Suite 720 
 Roanoke, VA 24011 
 Attn: Briggs W. Andrews, Esq. 
 Senior Vice President and General Counsel 
 F: 540.224.5792 
 with a copy to: 
 Woods Rogers PLC 
 10 South Jefferson Street 
 Suite 1400 
 Roanoke, VA 24011 
 T: 540.983.7600 
 F: 540.983.7711 
 Attn: Nicholas C. Conte 
 if to the Company: 
 Luna Innovations Incorporated 
 One Riverside Circle 
 Suite 400 
 Roanoke, VA 24016 
 T: 540.769.8400 
 F: 540.581.0951 
 Attn: Scott Graeff 
 with a copy to: 
 Proskauer Rose LLP 
 1001 Pennsylvania Avenue, NW 
 Suite 400 South 
 Washington, DC 20004 
 T: 202.416.6800 
 F: 202.416.6899 
 Attn: Trevor J. Chaplick, Esq. 
 6.5 Amendments; Waivers. No provision of
this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment, by the Company and the Investor or, in the case of a waiver, by the party against whom enforcement of any such waiver 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

  

 -21- 

 
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. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Investor under Article VI may be given by Investor holding at least a
majority of the Registrable Securities to which such waiver or consent relates. 
 6.6 Construction. 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. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party. 
 6.7 Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Investor may assign its rights under this Agreement to any Person to whom the Investor assigns or transfers any
Securities, provided (i) such transferor agrees in writing with the transferee or assignee to assign such rights, and a copy of such agreement is furnished to the Company after such assignment, (ii) the Company is furnished with written
notice of (x) the name and address of such transferee or assignee and (y) the Registrable Securities with respect to which such registration rights are being transferred or assigned, (iii) following such transfer or assignment, the
further disposition of such securities by the transferee or assignee is restricted under the Securities Act and applicable state securities laws, (iv) such transferee agrees in writing to be bound, with respect to the transferred Securities, by
the provisions hereof that apply to the “Investor” and (v) such transfer shall have been made in accordance with the applicable requirements of this Agreement and with all laws applicable thereto. 
 6.8 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. 
 6.9
Governing Law; Venue; Waiver of Jury Trial. With respect to any disputes arising out of or related to this Agreement, the parties consent to the exclusive jurisdiction of, and venue in, the state courts in the City of Roanoke in the
Commonwealth of Virginia (or in the event of exclusive federal jurisdiction, the courts of the Western District of Virginia, Roanoke Division). The Company and Investor hereby waive all rights to a trial by jury. 
 6.10 Survival. The representations and warranties, agreements and covenants contained herein shall survive the Closing. 

6.11 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 email attachment, 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
email-attached signature page were an original thereof. 
  

 -22- 

 6.12 Severability. If any provision of this Agreement is held to be invalid or
unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision
that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Agreement. 
 6.13 Replacement of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation
thereof, 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 and the execution by the holder thereof of a customary
lost certificate affidavit of that fact and an agreement to indemnify and hold harmless the Company for any losses in connection therewith. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable
third-party costs associated with the issuance of such replacement Securities. 
 6.14 Remedies. In addition to being
entitled to exercise all rights provided herein or granted by law, including recovery of damages, the Investor and the Company will be entitled to seek 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 described in the foregoing sentence and hereby agree to waive in any action for specific performance of any such obligation (other than in connection with any
action for a temporary restraining order) the defense that a remedy at law would be adequate. 
 6.15 Payment Set Aside.
To the extent that the Company makes a payment or payments to the Investor hereunder or the Investor enforces or exercises its rights hereunder, 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 by 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. 
 6.16
Adjustments in Share Numbers and Prices. In the event of any stock split, subdivision, dividend or distribution payable in shares of Common Stock (or other securities or rights convertible into, or entitling the holder thereof to receive
directly or indirectly shares of Common Stock), combination or other similar recapitalization or event occurring after the date hereof, each reference in any Transaction Document to a number of shares or a price per share shall be amended to
appropriately account for such event. 
 [SIGNATURE PAGES TO FOLLOW] 
  

 -23- 

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

			
	LUNA INNOVATIONS INCORPORATED
		
	By:	 	 /s/ Kent A. Murphy

	Name:	 	Kent A. Murphy
	Title:	 	CEO

 COMPANY SIGNATURE PAGE 

 Investor Signature Page 
 By its execution and delivery of this signature page, the undersigned Investor hereby joins in and agrees to be bound by the terms and
conditions of the Agreement and authorizes this signature page to be attached to the Agreement or counterparts thereof. 
  

			
	CARILION CLINIC
		
	By:	 	 /s/ G. Robert Vaughn, Jr.

		 	Name: G. Robert Vaughn, Jr.
		 	Title: Asst. Treasurer

 Exhibits: 
  

	A	Form of Certificate of Designations 

	B	Form of Warrant 

	C	Instruction Sheet for Investor 

	C-1	Stock Certificate Questionnaire 

	C-2	Registration Statement Questionnaire 

	C-3	Investor Certificate 

	D	[Intentionally Omitted] 

	E	Company Transfer Agent Instructions 

	F	Opinion of Company Corporate Counsel 

	G	Amended and Restated Investor Rights Agreement 

  

 -2-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]