Document:

EX-4.2

 Exhibit 4.2 

Execution Version 
  

 

INTERCONTINENTALEXCHANGE GROUP, INC., 

as Issuer, 
 and

 INTERCONTINENTALEXCHANGE, INC. 

and 
 BASEBALL
MERGER SUB, LLC, 
 each a Guarantor, 

and 
 WELLS
FARGO BANK, NATIONAL ASSOCIATION, 
 as Trustee

  
  

First Supplemental Indenture 

Dated as of October 8, 2013 

to Senior Debt Indenture 
 Dated as
of October 8, 2013 
 Establishing two series of Securities designated 

2.50% Senior Notes due 2018 
 4.00%
Senior Notes due 2023 
  
  

 FIRST SUPPLEMENTAL INDENTURE, dated as of October 8, 2013 (herein called the “First
Supplemental Indenture”), among IntercontinentalExchange Group, Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called “ICE Group”), the Guarantors (as defined herein) and
Wells Fargo Bank, National Association, as Trustee under the Base Indenture referred to below (herein called the “Trustee”). 

WITNESSETH: 
 WHEREAS, ICE Group
and the Guarantors (as defined herein) have heretofore executed and delivered to the Trustee an indenture dated as of October 8, 2013 (herein called the “Base Indenture” and, together with this First Supplemental Indenture, the
“Indenture”), to provide for the issuance from time to time of its unsecured debentures, notes or other evidences of indebtedness (herein called the “Securities”), the form and terms of which are to be established
as set forth in Sections 201 and 301 of the Base Indenture; 
 WHEREAS, Section 901 of the Base Indenture provides, among other things,
that ICE Group, a Guarantor and the Trustee may enter into indentures supplemental to the Base Indenture to, among other things, establish the form and terms of the Securities of any series as permitted in Sections 201 and 301 of the Base Indenture;

 WHEREAS, ICE Group desires to create two series of Securities, consisting of one series in an aggregate principal amount of $600,000,000
to be designated the “2.50% Senior Notes due 2018” (herein called the “2018 Notes”) and one series in an aggregate principal amount of $800,000,000 to be designated the “4.00% Senior Notes due 2023” (herein
called the “2023 Notes” and, together with the 2018 Notes, the “Notes”) and all action on the part of ICE Group necessary to authorize the issuance of the Notes under the Base Indenture and this First Supplemental
Indenture has been duly taken; 
 WHEREAS, ICE Group desires to issue the Notes in accordance with Section 2.3 of this First
Supplemental Indenture and treat the Notes as two series of Securities for all purposes, as amended or supplemented from time to time in accordance with the terms of this First Supplemental Indenture and the Base Indenture; and 

WHEREAS, all acts and things necessary to make the Notes, when executed by ICE Group and completed, authenticated and delivered by the Trustee
as provided in the Indenture, the valid and binding obligations of the Company and to constitute a valid and binding agreement according to its terms, have been done and performed. 

NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH: 

That in consideration of the premises and of the acceptance and purchase of the Notes by the Holders thereof and of the acceptance of this
trust by the Trustee, ICE Group and the Guarantors covenant and agree with the Trustee, for the equal benefit of Holders of the Notes, as follows: 

 ARTICLE 1. 

DEFINITIONS 
 Except to
the extent such terms are otherwise defined in this First Supplemental Indenture or the context clearly requires otherwise, all terms used in this First Supplemental Indenture which are defined in the Base Indenture or the forms of the 2018 Notes
and the 2023 Notes attached hereto as Exhibit A and Exhibit B, respectively, have the meanings assigned to them therein. 

In addition, as used in this First Supplemental Indenture, the following terms have the following meanings: 

“2018 Notes” has the meaning given to such term in the recitals hereof. 

“2023 Notes” has the meaning given to such term in the recitals hereof. 

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

“Applicable Procedures” has the meaning specified in Section 2.6 hereof. 

“Attributable Debt” with regard to a Sale and Lease-Back Transaction with respect to any Principal Property means, at the
time of determination, the present value of the total net amount of rent required to be paid under such lease during the remaining term thereof (including any period for which such lease has been extended), discounted at the rate of interest set
forth or implicit in the terms of such lease (or, if not practicable to determine such rate, the weighted average interest rate per annum borne by the securities of all series then Outstanding under the Indenture) compounded semi-annually. In the
case of any lease which is terminable by the lessee upon the payment of a penalty, such net amount shall be the lesser of (x) the net amount determined assuming termination upon the first date such lease may be terminated (in which case the net
amount shall also include the amount of the penalty, but shall not include any rent that would be required to be paid under such lease subsequent to the first date upon which it may be so terminated) or (y) the net amount determined assuming no
such termination. 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of
debtors. 
 “Base Indenture” has the meaning provided in the recitals hereof. 

“Baseball Merger Sub” means Baseball Merger Sub, LLC, a Delaware limited liability company and, both prior to and after the
Escrow Release Date, a direct or indirect wholly owned Subsidiary of the Company, and its respective successors and assigns until released from its obligations under its Guarantee and the Indenture in accordance with the terms of the Indenture. 

  
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 “Below Investment Grade Rating Event” means the Notes are rated below an
Investment Grade Rating by each of the Rating Agencies on any date during the period commencing upon the first public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control and ending 60 days
following public notice of the occurrence of the related Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies);
provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below
Investment Grade Rating Event for purposes of the definition of Change of Control Triggering Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform
the Holders of the applicable series of Notes in writing at their request that the reduction was the result, in whole or in part, of any event or circumstance comprising or arising as a result of, or in respect of, the applicable Change of Control
(whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). 

“Capital Stock” means (i) in the case of a corporation or a company, corporate stock or shares; (ii) in the case of an
association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (iii) in the case of a partnership or limited liability company, partnership or membership
interests (whether general or limited); and (iv) any other interest or participation that confers on a person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing person. 

“Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance
or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole, to any Person or group of related
Persons for purposes of Section 13(d) of the Exchange Act (a “Group”) other than the Company or one of its Subsidiaries; (2) the approval by the holders of the Company’s common stock of any plan or proposal for the
liquidation or dissolution of the Company; (3) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any Person or Group becomes the beneficial owner, directly or
indirectly, of more than 50% of the then outstanding number of shares of the Company’s Voting Stock; (4) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors; or
(5) the Company consolidates with or into any Person, or any Person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or such other
Person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or
exchanged for, a majority of the Voting Stock of the surviving Person immediately after giving effect to such transaction. 

“Change of Control Offer” has the meaning specified in Section 3.5 hereof. 

“Change of Control Payment” has the meaning specified in Section 3.5 hereof. 

  
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 “Change of Control Payment Date” has the meaning specified in Section 3.5
hereof. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment
Grade Rating Event occurring in respect of that Change of Control. 
 “Continuing Directors” means, as of any date of
determination, any member of the Board of Directors of ICE, prior to the Escrow Release Date, or ICE Group, thereafter, who (1) was a member of such Board of Directors on the date of the issuance of the applicable series of Notes; or
(2) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination, election or appointment.

 “Company” means ICE Group and, subject to the provisions of Section 3.3 and Section 3.4 hereof, any successor to ICE
Group; provided that for purposes of Section 3.1, Section 3.2 and Section 3.5 hereof, “Company” means, prior to the Escrow Release Date, both ICE Group and ICE and, on and after the Escrow Release Date, ICE Group.

 “Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as
having a maturity comparable to the remaining term of the Notes to be redeemed that would be used, at the time of selection and under customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the
remaining term of the Notes. 
 “Comparable Treasury Price” means, with respect to any Redemption Date, the average of the
Reference Treasury Dealer Quotations for that Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or if the Trustee is provided fewer than four Reference Treasury Dealer Quotations, the average of all
Reference Treasury Dealer Quotations. 
 “Consolidated Net Worth” means, the consolidated stockholders’ equity of
(i) prior to the Escrow Release Date, ICE and its Subsidiaries and (ii) after the Escrow Release Date, ICE Group and its Subsidiaries, in each case, as defined according to GAAP. 

“Credit Agreement” means the Credit Agreement, dated as of November 9, 2011, as amended by the First Amendment and
Waiver to the Credit Agreement dated as of September 27, 2013, by and among IntercontinentalExchange, Inc. and ICE Europe Parent Limited, as borrowers, IntercontinentalExchange Group, Inc., as a guarantor, Wells Fargo Bank, National
Association, as administrative agent, issuing lender and swingline lender, Bank of America, N.A., as syndication agent, and each of the lenders signatory thereto, as amended, restated, supplemented, increased, extended, renewed, replaced, refinanced
(with the same or other lenders) or otherwise modified from time to time. 
 “Definitive Securities” means certificated
Securities registered in the name of the Holder thereof and issued in accordance with Section 2.2(b) hereof, substantially in the form of Exhibit A hereto (with respect to the 2018 Notes) or Exhibit B hereto (with
respect to the 2023 Notes), except that such Security shall not bear the Global Security Legend. 

  
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 “Depositary” means DTC, together with any Person succeeding thereto by merger,
consolidation or acquisition of all or substantially all of its assets, including substantially all of its securities payment and transfer operations. 

“DTC” means The Depository Trust Company, a New York corporation, having a principal office at 55 Water Street, New York, New
York 10041-0099. 
 “Escrow Account” means the account pledged to, and under the control of, the Trustee pursuant to the
Escrow Agreement. 
 “Escrow Agent” means Wells Fargo Bank, National Association, as escrow agent. 

“Escrow Agreement” means the escrow agreement, dated as of the Issue Date, among the Company, the Trustee and the Escrow
Agent. 
 “Escrow Property” has the meaning specified in Section 4.2 hereof. 

“Escrow Release Conditions” has the meaning specified in Section 4.2 hereof. 

“Escrow Release Date” has the meaning specified in Section 4.2 hereof. 

“Events of Default” has the meaning specified in Section 5.1 hereof. 

“First Supplemental Indenture” has the meaning provided in the preamble hereof. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect from time to time. 

“Global Security Legend” means the legend set forth in Section 202 of the Base Indenture. 

“Group” has the meaning given to such term in the definition of “Change of Control” herein. 

“Guarantor” means each of ICE and Baseball Merger Sub, and, in each case, their respective successors and assigns until
released from their obligations under their Guarantees and the Indenture in accordance with the terms of the Indenture. 

“ICE” means IntercontinentalExchange, Inc., a Delaware corporation and, prior to the Escrow Release Date, the parent company
and sole shareholder of ICE Group and, on and after the Escrow Release Date, a Subsidiary of ICE Group, and its respective successors and assigns until released from its obligations under its Guarantee and the Indenture in accordance with the terms
of the Indenture. 
 “ICE Group” means the Person named as such in the preamble hereof. 

  
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 “Indebtedness” means any indebtedness (whether being principal, premium,
interest or other amounts) for or in respect of any borrowed money, or evidenced by notes, bonds, debentures or other instruments for money borrowed, or under any lease required to be capitalized under GAAP as in effect on the Issue Date, or any
liability under or in respect of any banker’s acceptance (other than a daylight overdraft). 
 “Indenture” has the
meaning provided in the recitals hereof. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers
selected by the Company. 
 “Indirect Participant” means a Person who holds a beneficial interest in a Global Security
through a Participant. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s and BBB- (or the equivalent) by S&P or the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company. 

“Issue Date” means October 8, 2013, the date on which the Notes are originally issued under this First Supplemental
Indenture. 
 “Lien” means any lien, mortgage, deed of trust, hypothecation, pledge, security interest, charge or
encumbrance of any kind. 
 “Merger” means the series of successive transactions contemplated by the Merger Agreement,
pursuant to which ICE and NYSE will become wholly owned Subsidiaries of the Company. 
 “Merger Agreement” means the
Amended and Restated Agreement and Plan of Merger (as amended, modified or supplemented from time to time in accordance with its terms), dated as of March 19, 2013, by and among NYSE, ICE, the Company, Braves Merger Sub, Inc. and Baseball
Merger Sub. 
 “Moody’s” means Moody’s Investors Service, Inc. 

“Notes” has the meaning given to such term in the recitals hereof. 

“NYSE” means (i) prior to the Merger, NYSE Euronext, a Delaware corporation, and (ii) following the Merger, the
surviving entity or successor to NYSE Euronext. 
 “Optional Redemption Price” has the meaning specified in
Section 4.1(a) hereof. 
 “Outside Date” has the meaning specified in Section 4.2 hereof. 

“Outside Redemption” has the meaning specified in Section 4.2(a) hereof. 

“Outside Redemption Date” has the meaning specified in Section 4.2 hereof. 

  
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 “Participant” means, with respect to the Depositary, a Person who has an account
with the Depositary. 
 “Paying Agent” means, initially, the Trustee, having its Corporate Trust Office at 7000 Central
Parkway NE, Suite 550, Atlanta, GA 30328, and any successor Paying Agent appointed in accordance with the terms of the Indenture. 

“Permitted Liens” means: 

(a) Liens imposed by law or any governmental authority for taxes, assessments, levies or charges that are not yet overdue by
more than 60 days or are being contested in good faith (and, if necessary, by appropriate proceedings) or for commitments that have not been violated; 

(b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlords’ and similar
Liens imposed by law or which arise by operation of law and which are incurred in the ordinary course of business or where the validity or amount thereof is being contested in good faith (and, if necessary, by appropriate proceedings); 

(c) Liens incurred or pledges or deposits made in compliance with workers’ compensation, unemployment insurance and other
social security laws or regulations; 
 (d) Liens incurred or pledges or deposits made to secure the performance of bids,
trade contracts, tenders, leases, statutory obligations, surety, customs and appeal bonds, performance bonds, customer deposits and other obligations of a similar nature, in each case in the ordinary course of business; 

(e) judgment Liens in respect of judgments that do not constitute an Event of Default under the Indenture; 

(f) easements, zoning restrictions, minor title defects, irregularities or imperfections, restrictions on use, rights of way,
leases, subleases and similar charges and other similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations (other than customary maintenance requirements) and which
could not reasonably be expected to have a material adverse effect on the business or financial condition of the Company and its Subsidiaries taken as a whole; 

(g) Liens on (1) any property or asset prior to the acquisition thereof (provided that such Lien may only extend to such
property or asset) or (2) property of a Significant Subsidiary where (A) such Significant Subsidiary becomes a Subsidiary after the Issue Date, (B) the Lien exists at the time such Significant Subsidiary becomes a Subsidiary,
(C) the Lien was not created in contemplation of such Significant Subsidiary becoming a Subsidiary and (D) the principal amount secured by the Lien at the time such Significant Subsidiary becomes a Subsidiary is not subsequently increased
or the Lien is 

  
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not extended to any other assets other than those owned by the entity becoming a Subsidiary; 

(h) any Lien existing on the Issue Date; 

(i) Liens upon fixed, capital, real or tangible personal property acquired after the Issue Date (by purchase, construction,
development, improvement, capital lease or otherwise) by the Company or any Significant Subsidiary, each of which was created for the purpose of securing Indebtedness representing, or incurred to finance, refinance or refund, the cost (including the
cost of construction, development or improvement) of such property; provided that no such Lien shall extend to or cover any property other than the property so acquired and improvements thereon; 

(j) Liens in favor of the Company or any Significant Subsidiary; 

(k) Liens arising from the sale of accounts receivable for which fair equivalent value is received; 

(l) any extension, renewal or replacement (or successive extensions, renewals or replacements) in whole or in part, of any
Liens referred to in the foregoing clauses (g), (h), (i), (j) and (k); provided that the principal amount of Indebtedness secured thereby and not otherwise authorized as a Permitted Lien shall not exceed the principal amount of
Indebtedness, plus any premium or fee payable in connection with any such extension, renewal or replacement, so secured at the time of such extension, renewal or replacement; 

(m) Liens securing the Company’s obligations or those of any of the Subsidiaries of the Company in respect of any swap
agreements entered into (1) in the ordinary course of business and for non-speculative purposes or (2) solely in order to serve clearing, depositary, regulated exchange or settlement activities in respect thereof; 

(n) Liens created in connection with any share repurchase program in favor of any broker, dealer, custodian, trustee or agent
administering or effecting transactions pursuant to a share repurchase program; 
 (o) Liens consisting of an agreement to
sell, transfer or dispose of any asset or property (to the extent such sale, transfer or disposition is not prohibited by Section 3.2 and Section 3.3 hereof; and 

(p) Liens arising in connection with the Company’s operations or the operations of any of the Company’s Subsidiaries
relating to clearing, depository, matched principal, regulated exchange or settlement activities, including, without limitation, Liens on securities sold by the Company or any Subsidiary in repurchase agreements, reverse repurchase agreements, sell
buy back and buy sell back agreements, securities lending and borrowing agreements and any other similar agreement or transaction entered into in the ordinary course of clearing, depository, matched principal and settlement operations or in the
management of liabilities. 

  
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 “Person” means any individual, firm, corporation, partnership, association,
joint venture, tribunal, trust, government or political subdivision or agency or instrumentality thereof, or any other entity or organization and includes a “person” as used in Section 13(d)(3) of the Exchange Act. 

“Primary Treasury Dealer” means a primary U.S. government securities dealer in New York City. 

“Principal Property” means the land, improvements, buildings and fixtures (including any leasehold interest therein)
constituting a corporate office, facility or other capital asset within the United States (including its territories and possessions) which is owned or leased by the Company or any of its Significant Subsidiaries unless ICE Group’s Board of
Directors (or, if prior to the Escrow Release Date, ICE’s Board of Directors) has determined in good faith that such office or facility is not of material importance to the total business conducted by ICE Group (or, if prior to the Escrow
Release Date, ICE) and its Significant Subsidiaries taken as a whole. With respect to any Sale and Lease-Back Transaction or series of related Sale and Lease-Back Transactions, the determination of whether any property is a Principal Property shall
be determined by reference to all properties affected by such transaction or series of transactions. 
 “Prospectus” means
the final prospectus supplement relating to the Notes, together with the base prospectus contained in the registration statement on Form S-3 (File No. 333-191062), dated October 1, 2013 and filed on October 2, 2013 by ICE Group and
the Guarantors. 
 “Rating Agencies” means (1) each of Moody’s and S&P; and (2) if any of Moody’s
or S&P ceases to rate a series of Notes or fails to make a rating of a series of Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” as defined in
Section 3(a)(62) of the Exchange Act, that the Company selects (as certified by an executive officer of the Company) as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“Reference Treasury Dealer” means (1) each of Merrill Lynch, Pierce, Fenner & Smith Incorporated and a Primary
Treasury Dealer selected by Wells Fargo Securities, LLC and their respective successors; provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company will substitute for such bank another
Primary Treasury Dealer and (2) up to two other Primary Treasury Dealers selected by the Company. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in
writing to the Company and the Trustee by the Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day before that Redemption Date. 

“Regular Record Date” for the interest payable on any Interest Payment Date means the April 1 or October 1, whether
or not a Business Day, immediately preceding the applicable Interest Payment Date. 

  
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 “S&P” means Standard & Poor’s Ratings Services, a division of
McGraw Hill Financial, Inc. 
 “Sale and Lease-Back Transaction” means any arrangement with any person providing for the
leasing by the Company or any of its Significant Subsidiaries of any Principal Property, whether now owned or hereafter acquired, which Principal Property has been or is to be sold or transferred by the Company or such Significant Subsidiary to such
person. 
 “Securities” has the meaning given to such term in the recitals hereof. 

“Significant Subsidiary,” means each Guarantor and, with respect to any person, any Subsidiary of such person that satisfies
the criteria for a “Significant Subsidiary” set forth in Rule 1-02(w) of Regulation S-X under the Exchange Act. 

“Special Redemption” has the meaning specified in Section 4.2(b) hereof. 

“Special Redemption Price” has the meaning specified in Section 4.2(a) hereof. 

“Subsidiary” means any corporation, limited liability company or other similar type of business entity in which the Company
or one or more of the Company’s Subsidiaries together own more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of the board of directors or
similar governing body of such corporation, limited liability company or other similar type of business entity, directly or indirectly. 

“Termination Redemption” has the meaning specified in Section 4.2(b) hereof. 

“Termination Redemption Date” has the meaning specified in Section 4.2(b) hereof. 

“Trustee” means the person named as such in the preamble hereof and, subject to the provisions of Article Six of the
Base Indenture, any successor to that person. 
 “Voting Stock” of any specified Person as of any date means the Capital
Stock of such Person that is at the time entitled to vote generally in the election of the Board of Directors of such Person. 

  
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 ARTICLE 2. 

THE NOTES 

Section 2.1 Issue of Notes. 

(a) A series of Securities, which shall be designated the “2.50% Senior Notes due 2018,” shall be executed, authenticated and
delivered in accordance with the provisions of, and shall in all respects be subject to, the terms, conditions and covenants of, the Base Indenture and this First Supplemental Indenture (including the form of 2018 Notes attached hereto as
Exhibit A). The aggregate principal amount of 2018 Notes which may be authenticated and delivered under this First Supplemental Indenture shall not, except as permitted by the provisions of the Base Indenture, initially exceed
$600,000,000. The Company may from time to time or at any time, without notice to, or the consent of, any Holder of the 2018 Notes, create and issue additional 2018 Notes having the same terms as the 2018 Notes (except for the public offering price,
issue date and, if applicable, the initial interest accrual date and first Interest Payment Date), which additional 2018 Notes shall increase the aggregate principal amount of the 2018 Notes and, together with the 2018 Notes, will constitute a
single series under the Indenture and vote together as one class on all matters with respect to the 2018 Notes; provided, however, that any additional 2018 Notes that are not fungible with existing 2018 Notes for U.S. federal income
tax purposes will have a separate CUSIP, ISIN and other identifying number than the existing 2018 Notes. 
 (b) A series of Securities,
which shall be designated the “4.00% Senior Notes due 2023,” shall be executed, authenticated and delivered in accordance with the provisions of, and shall in all respects be subject to, the terms, conditions and covenants of, the Base
Indenture and this First Supplemental Indenture (including the form of 2023 Notes attached hereto as Exhibit B). The aggregate principal amount of 2023 Notes which may be authenticated and delivered under this First Supplemental
Indenture shall not, except as permitted by the provisions of the Base Indenture, initially exceed $800,000,000. The Company may from time to time or at any time, without notice to, or the consent of, any Holder of the 2023 Notes, create and issue
additional 2023 Notes having the same terms as the 2023 Notes (except for the public offering price, issue date and, if applicable, the initial interest accrual date and first Interest Payment Date), which additional 2023 Notes shall increase the
aggregate principal amount of the 2023 Notes and, together with the 2023 Notes, will constitute a single series under the Indenture and vote together as one class on all matters with respect to the 2023 Notes; provided, however, that
any additional 2023 Notes that are not fungible with existing 2023 Notes for U.S. federal income tax purposes will have a separate CUSIP, ISIN and other identifying number than the existing 2023 Notes. 

Section 2.2 Form of Notes; Incorporation of Terms. 

(a) The Notes of each series shall be issued initially in the form of one or more Global Securities and, together with the Trustee’s
certificate of authentication thereon, shall be in substantially the form set forth in Exhibit A or Exhibit B attached hereto, as applicable. The Notes may have such notations, legends or endorsements approved as to form by the
Company and required, as applicable, by law, stock exchange or depository rules and 

  
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agreements to which the Company is subject or usage. The terms of the 2018 Notes set forth in Exhibit A and the 2023 Notes set forth in Exhibit B are herein incorporated by
reference and are part of the terms of this First Supplemental Indenture. The Notes shall be issuable in definitive, fully registered form without coupons only in minimum denominations of $2,000 and any integral multiples of $1,000 in excess
thereof. 
 (b) The 2018 Notes and the 2023 Notes issued in global form shall be substantially in the form of Exhibit A and
Exhibit B attached hereto, respectively (including the Global Security Legend thereon). The 2018 Notes and the 2023 Notes issued in definitive certificated form in accordance with the terms of the Base Indenture and this First Supplemental
Indenture, if any, shall be substantially in the form of Exhibit A and Exhibit B, respectively, attached hereto (but without the Global Security Legend thereon). Each Global Security shall represent such of the Outstanding Notes
as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of Outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of Outstanding Notes represented thereby may
from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Security to reflect the amount of any increase or decrease in the aggregate principal amount of Outstanding Notes
represented thereby shall be made by the Trustee in accordance with Section 2.7 hereof pursuant to instructions given by the Holder thereof as required by Section 2.6 hereof. 

Section 2.3 Execution and Authentication. The Trustee, upon a Company Order and pursuant to the terms of the Base Indenture and this
First Supplemental Indenture, shall authenticate and deliver the 2018 Notes for original issue in an initial aggregate principal amount of $600,000,000 and the 2023 Notes for original issue in an initial aggregate principal amount of $800,000,000.
Such Company Order shall specify the amount of the Notes of each series to be authenticated and the date on which the original issue of Notes of each series is to be authenticated. 

Section 2.4 Global Securities. The Depositary for the Global Securities issued under this First Supplemental Indenture shall be
DTC in the City of New York. The provisions of clauses (1), (2), (3) and (4) below shall apply only to Global Securities: 

(1) Each Global Security authenticated under this First Supplemental Indenture shall be registered in the name of the
Depositary designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of the Indenture. 

(2) Notwithstanding any other provision in the Indenture, no Global Security may be exchanged in whole or in part for
Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the Depositary for such Global Security or a nominee thereof unless (A) such Depositary has notified the
Company that it is unwilling or unable or no longer permitted under applicable law to continue as Depositary for such Global Security and the Company has not appointed a successor Depositary within 90 days of receipt of such

  
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notice or (B) an Event of Default with respect to such series of Securities has occurred and is continuing and a Holder of Securities of such series makes such request. 

(3) Subject to clause (2) above, any exchange of a Global Security for other Securities may be made in whole or
in part, and all Securities issued in exchange for a Global Security or any portion thereof shall be registered in such names as the Depositary for such Global Security shall direct. 

(4) Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a
Global Security or any portion thereof, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee
thereof. 
 Section 2.5 Place of Payment. The Place of Payment in respect of the Notes will be at the office or agency of the
Company in The City of New York, State of New York or at the office or agency of the Paying Agent. 
 Section 2.6 Transfer and
Exchange. 
 (a) The transfer and exchange of beneficial interests in the Global Securities shall be effected through the Depositary, in
accordance with the provisions of the Indenture and the then applicable procedures of the Depositary (the “Applicable Procedures”). In connection with all transfers and exchanges of beneficial interests, the transferor of such
beneficial interest must deliver to the Trustee either (A)(1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be
credited a beneficial interest in another Global Security in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures containing information regarding the
Participant account to be credited with such increase or, if Definitive Securities are at such time permitted to be issued pursuant to the Indenture, (B)(1) a written order from a Participant or an Indirect Participant given to the Depositary
in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Security in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given by the Depositary to the
Security Registrar containing information regarding the Person in whose name such Definitive Security shall be registered to effect the transfer or exchange referred to in (1) above. Upon satisfaction of all of the requirements for transfer or
exchange of beneficial interests in Global Securities contained in the Indenture and the Notes or otherwise applicable under the Securities Act, the Security Registrar shall adjust the principal amount of the relevant Global Securities pursuant to
Section 2.7 hereof. 
 (b) Upon request by a Holder of Definitive Securities and such Holder’s compliance with the provisions of
this Section 2.6(b), the Security Registrar shall register the transfer or exchange of Definitive Securities. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the Trustee the Definitive
Securities duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Security Registrar duly executed by such Holder or by its attorney, duly authorized in writing. The

  
 13 

 
Trustee shall cancel any such Definitive Securities so surrendered, and the Company shall execute and, upon receipt of a Company Order pursuant to Section 303 of the Base Indenture, the
Trustee shall authenticate and deliver to the Person designated in the instructions a new Definitive Security in the appropriate principal amount. Any Definitive Security issued pursuant to this Section 2.6(b) shall be registered in such
name or names and in such authorized denomination or denominations as the Holder of such beneficial interest shall instruct the Security Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee
shall deliver such Definitive Securities to the Persons in whose names such Definitive Securities are so registered. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required
pursuant to Section 305 of the Base Indenture. 
 Section 2.7 Cancellation or Adjustment of Global Securities. At such time
as all beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or cancelled in whole and not in part, each such Global Security shall be
returned to or retained and cancelled by the Trustee in accordance with Section 309 of the Base Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who
will take delivery thereof in the form of a beneficial interest for Definitive Securities, the principal amount of Notes represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the
Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Security, such other Global Security shall be increased accordingly and an endorsement shall be made on such Global Security by the Security Registrar or by the Depositary at the direction of the Security Registrar to reflect such increase.

 ARTICLE 3. 

COVENANTS 

Section 3.1 Limitations on Liens. The Company shall not (nor shall it permit any of its Significant Subsidiaries to) create or
permit to exist any Lien on any Principal Property of the Company or any of its Significant Subsidiaries (or on any Capital Stock of a Significant Subsidiary), whether owned on the Issue Date or thereafter acquired, to secure any Indebtedness,
unless the Company shall contemporaneously secure the Notes (together with, if the Company so determines, any other Indebtedness of, or guaranteed by, the Company or such Significant Subsidiary then existing or thereafter created which is not
subordinated to the Notes) equally and ratably with (or, at the Company’s option, prior to) that obligation. 
 The foregoing
restriction, however, will not require the Company to secure the Notes if the Lien consists of either of the following: 
 (a) Permitted
Liens; or 
 (b) Liens securing Indebtedness if at the time the Indebtedness is incurred and after giving effect to such Indebtedness and to
the retirement of Indebtedness which is 

  
 14 

 
concurrently being retired, the sum of (i) the aggregate principal amount of all Indebtedness of the Company and its Significant Subsidiaries secured by Liens that are restricted by, and not
otherwise permitted by, the provisions described under this Section 3.1 and (ii) the Attributable Debt of all of the Company’s Sale and Lease-Back Transactions not otherwise permitted by the provisions described under the first
sentence of Section 3.2 hereof, does not exceed 15% of Consolidated Net Worth. 
 It being understood that the definition of Permitted
Liens is not intended to broaden the interpretation or otherwise expand the scope of the first sentence of this Section 3.1. 

Section 3.2 Limitation on Sale and Lease-Back Transactions. The Company shall not, and shall not permit any of its Significant
Subsidiaries to, enter into any Sale and Lease-Back Transaction with respect to any Principal Property, other than (x) any such Sale and Lease-Back Transaction involving a lease for a term of not more than three years or (y) any such Sale
and Lease-Back Transaction between the Company and one of its Significant Subsidiaries or between its Significant Subsidiaries, unless: 

(a) the Company or such Significant Subsidiary, as applicable, could have incurred Indebtedness secured by a Lien on the Principal Property
involved in such Sale and Lease-Back Transaction in an amount at least equal to the Attributable Debt with respect to such Sale and Lease-Back Transaction, without equally and ratably securing the Notes, pursuant to Section 3.1 hereof; or 

(b) the proceeds of such Sale and Lease-Back Transaction are at least equal to the fair market value of the affected Principal Property (as
determined in good faith by the Board of Directors of ICE Group (or, if prior to the Escrow Release Date, ICE’s Board of Directors) or such Significant Subsidiary, as the case may be) and the Company applies an amount equal to the net proceeds
of such Sale and Lease-Back Transaction within 365 days of such Sale and Lease-Back Transaction to any (or a combination) of: 

(i) the prepayment or retirement of the Notes, 

(ii) the prepayment or retirement (other than any mandatory retirement, mandatory prepayment or sinking fund payment or by
payment at maturity) of other Indebtedness of the Company or of one of its Significant Subsidiaries (other than Indebtedness that is subordinated to the Notes or Indebtedness owed to the Company or one of its Significant Subsidiaries) that matures
more than 12 months after its creation; or 
 (iii) the purchase, construction, development, expansion or improvement of
other comparable property. 
 Notwithstanding the foregoing, the Company and its Significant Subsidiaries will be allowed to enter into any
Sale and Lease-Back Transaction if at the time such Indebtedness is incurred and after giving effect to such Indebtedness and to the retirement of Indebtedness which is concurrently being retired, the sum of (i) the aggregate principal amount
of all Indebtedness of the Company and its Significant Subsidiaries secured by Liens that are restricted by, and not otherwise permitted by, the provisions described under Section 3.1 hereof and (ii) the Attributable Debt of all of the
Company’s Sale and Lease-Back Transactions not otherwise 

  
 15 

 
permitted by the provisions described under the first sentence of this Section 3.2, does not exceed 15% of Consolidated Net Worth. 

Section 3.3 Limitations on Mergers and Other Transactions. Section 801 of the Base Indenture shall, with respect to the
Notes, be replaced with the following: 
 “On and after the Escrow Release Date: 

(a) ICE Group will not consolidate or amalgamate with or merge into any Person and will not convey, transfer or lease all or substantially all
of the assets of ICE Group and its Subsidiaries, taken as a whole, to any Person, unless: 
 (1) either (x) ICE Group is
the surviving Person or (y) the Person surviving any such consolidation, amalgamation or merger (if other than ICE Group) or the Person to which such conveyance, transfer or lease has been made expressly assumes ICE Group’s obligations on
the Notes and the due and punctual performance and observance of all of the covenants and agreements of the Indenture to be performed or observed by ICE Group and the Person so assuming ICE Group’s obligations is organized under the laws of the
United States or any state thereof; and 
 (2) immediately after giving effect to the transaction, no Event of Default (and
no event which, after notice or lapse of time or both, would become an Event of Default) shall have happened and be continuing. 
 (b)
Neither Guarantor will consolidate or amalgamate with or merge into any Person, unless: 
 (1) the Guarantor is the surviving
Person or the surviving Person (if other than the Guarantor) is organized under the laws of the United States or any state thereof and it expressly assumes the obligations under the applicable Guarantee and the due and punctual performance and
observance of all of the covenants and agreements of the Indenture to be performed or observed by the Guarantor; and 
 (2)
immediately after giving effect to the transaction, no Event of Default (and no event which, after notice or lapse of time or both, would become an Event of Default) shall have happened and be continuing. 

(c) Notwithstanding the foregoing paragraphs (a) and (b): 

(1) a Guarantor may convey, transfer or lease all or substantially all of its assets to any Person; provided that if
such conveyance, transfer or lease constitutes a conveyance, transfer or lease of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, the Company shall comply with paragraph (a) of this Section; 

  
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 (2) the restrictions in paragraphs (a) and (b) of this Section will not
apply to any conveyance, transfer, lease or other disposition of assets between or among ICE Group and its Subsidiaries; and 

(3) ICE Group and the Guarantors may consummate the Merger, as described under “Summary—Pending Acquisition of NYSE
Euronext” in the Prospectus. 
 Prior to the Escrow Release Date: 

(a) Neither ICE Group nor ICE will consolidate or amalgamate with or merge into any Person and will not convey, transfer or lease all or
substantially all of the assets of ICE Group or ICE, as applicable, and its Subsidiaries, taken as a whole, to any Person, unless: 

(1) either (x) ICE Group or ICE, as applicable, is the surviving Person or (y) the Person surviving any such
consolidation, amalgamation or merger (if other than ICE Group or ICE, as applicable) or the Person to which such conveyance, transfer or lease has been made expressly assumes, in the case of ICE Group, ICE Group’s obligations on the Notes, or,
in the case of ICE, ICE’s obligations under its Guarantee, and, in each case, the due and punctual performance and observance of all of the covenants and agreements of the Indenture to be performed or observed by ICE Group or ICE, as
applicable, and the Person so assuming the ICE Group’s obligations or ICE’s Guarantee, as applicable, is organized under the laws of the United States or any state thereof; and 

(2) immediately after giving effect to the transaction, no Event of Default (and no event which, after notice or lapse of time
or both, would become an Event of Default) shall have happened and be continuing. 
 (b) Baseball Merger Sub will not consolidate or
amalgamate with or merge into any Person, unless: 
 (1) Baseball Merger Sub is the surviving Person or the surviving Person
(if other than Baseball Merger Sub) is organized under the laws of the United States or any state thereof and it expressly assumes Baseball Merger Sub’s obligations under its Guarantee and the due and punctual performance and observance of all
of the covenants and agreements of the Indenture to be performed or observed by Baseball Merger Sub; and 
 (2) immediately
after giving effect to the transaction, no Event of Default (and no event which, after notice or lapse of time or both, would become an Event of Default) shall have happened and be continuing. 

(c) Notwithstanding the foregoing paragraphs (a) and (b): 

(1) Baseball Merger Sub may convey, transfer or lease all or substantially all of its assets to any Person; provided
that if such conveyance, transfer or lease constitutes a conveyance, transfer or lease of all or substantially all of the assets of 

  
 17 

 
ICE and its Subsidiaries, taken as a whole, ICE shall comply with paragraph (a) of this Section; 

(2) the restrictions in paragraphs (a) and (b) of this Section will not apply to any conveyance, transfer, lease or
other disposition of assets between or among ICE and its Subsidiaries; and 
 (3) ICE Group, ICE and Baseball Merger Sub may
consummate the Merger, as described under “Summary—Pending Acquisition of NYSE Euronext” in the Prospectus.” 

Section 3.4 Successor Substituted. Section 802 of the Base Indenture shall, with respect to the Notes, be replaced with the
following: 
 “Upon any consolidation or amalgamation of the Company or a Guarantor with, or merger of the Company or a Guarantor into,
any other Person or any conveyance, transfer or lease of the properties and assets of the Company and its Subsidiaries, taken as a whole, to any Person, the surviving or transferee Person (in the case of the Company) or the surviving Person (in the
case of a Guarantor) shall succeed to, and be substituted for, and may exercise every right and power of, the Company or such Guarantor, as the case may be, under this Indenture with the same effect as if such successor Person or surviving Person
had been named as the Company or such Guarantor, as the case may be, herein, and thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture, the Securities and any
applicable Guarantees.” 
 Section 3.5 Repurchase upon Change of Control Triggering Event. 

(a) If a Change of Control Triggering Event occurs with respect to a series of Notes, unless the Company has exercised its right to redeem
such Notes pursuant to Section 4.1 hereof by causing a notice of redemption to be delivered to the Holders of such Notes, the Company shall make an offer to each Holder of such Notes to repurchase all or, at such Holder’s option, any part
(equal to $2,000 or any integral multiple of $1,000 in excess thereof) of such Holder’s Notes of such series (the “Change of Control Offer”) for payment in cash equal to 101% of the aggregate principal amount of Notes
repurchased, plus accrued and unpaid interest, if any, on the Notes repurchased to, but excluding, the date of purchase (the “Change of Control Payment”). 

(b) Within 30 days following any Change of Control Triggering Event with respect to a series of Notes or, at the Company’s option, prior
to any Change of Control but after the public announcement of the transaction or transactions that constitutes or may constitute a Change of Control, the Company shall cause a notice to be mailed to Holders of the Notes of such series, with a copy
to the Trustee for the Notes, describing the transaction or transactions that constitute or may constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date shall be no
earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures required by the Notes of the applicable series and described in such notice.
The notice shall, if mailed prior to the date of the Change of Control, 

  
 18 

 
state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date. 

(c) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent such laws and regulations are applicable in connection with the repurchase of Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict
with this Section 3.5, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under this Section 3.5 by virtue of such conflict. 

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

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

(ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of
Notes properly tendered pursuant to the Change of Control Offer; and 
 (iii) deliver or cause to be delivered to the Trustee
the Notes properly accepted together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company. 

(e) The Paying Agent shall promptly mail, to each Holder who properly tendered Notes, the purchase price for such Notes, and the Trustee shall
promptly authenticate and mail (or cause to be transferred by book entry) to each such Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each new Note will be in a principal
amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 (f) The Company shall not be required to make a Change of Control
Offer upon a Change of Control Triggering Event if a third party makes a Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this First Supplemental Indenture applicable to a Change of
Control Offer made by the Company and purchases all Notes properly tendered and not withdrawn under such Change of Control Offer. In the event that such third party terminates or defaults on its Change of Control Offer, the Company shall be required
to make a Change of Control Offer treating the date of such termination or default as though it were the date of the Change of Control Triggering Event. 

(g) The Company shall not be required to purchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an
Event of Default under the Indenture, other than a default in the payment of the Change of Control Payment. 
 (h) Notwithstanding any other
provision herein: 

  
 19 

 (i) the Merger, as described under “Summary—Pending Acquisition of NYSE
Euronext” in the Prospectus, shall not constitute a Change of Control; and 
 (ii) a transaction will not be deemed to
involve a Change of Control if (1) the Company becomes a direct or indirect wholly owned Subsidiary of a holding company and (2)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that
transaction are substantially the same as the holders of our Voting Stock immediately prior to that transaction or (B) immediately following that transaction no Person or Group (other than such holding company) is the beneficial owner, directly
or indirectly of more than 50% of the Voting Stock of such holding company. 
 ARTICLE 4. 

REDEMPTION 

Section 4.1 Optional Redemption by Company. 

(a) Subject to Article Eleven of the Base Indenture, the Company shall have the right to redeem either series of the Notes, in whole or
in part, at any time and from time to time, at a redemption price (the “Optional Redemption Price”) equal to the greater of: 

(i) 100% of the principal amount of the Notes to be redeemed; and 

(ii) the sum of (x) the present values of the remaining scheduled payments of principal and interest on the Notes to be
redeemed (exclusive of interest accrued to the date of redemption) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), at the Adjusted Treasury Rate plus (y) 20 basis points, in
the case of the 2018 Notes, and 25 basis points, in the case of the 2023 Notes, plus accrued and unpaid interest to but excluding the Redemption Date. 

(b) On and after the applicable Redemption Date, interest will cease to accrue on the Notes or any portion of the Notes called for redemption
(unless the Company defaults in the payment of the Optional Redemption Price and accrued interest). On or before the applicable Redemption Date, the Company will deposit with a Paying Agent (or the Trustee) money sufficient to pay the Optional
Redemption Price of, and accrued interest on, the Notes to be redeemed on such Redemption Date. If less than all of the Notes of a series are to be redeemed, the Notes to be redeemed shall be selected by the Trustee in compliance with the
requirements of the principal national securities exchange, if any, by lot and subject to applicable DTC procedures or regulations or by such method as the Trustee shall deem appropriate. 

(c) Notice of any redemption pursuant to this Section 4.1 shall be given as provided in Section 1104 of the Base Indenture, except
that any notice of such redemption shall not specify the related Optional Redemption Price but only the manner of calculation thereof. The Trustee shall not be responsible for the calculation of such Optional Redemption Price. The Company shall
calculate such Optional Redemption Price and promptly notify the Trustee thereof. 

  
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 Section 4.2 Escrow of Proceeds; Special Redemption. On the Issue Date, simultaneously
with the issuance of the Notes, the Company will, pursuant to the terms of the Escrow Agreement, deposit or cause to be deposited into the Escrow Account cash (collectively with the Escrow Account and any other property from time to time held in the
Escrow Account, including any investments thereof, the “Escrow Property”) equal to the net proceeds of the offering of the Notes, together with additional cash necessary to fund a Special Redemption and pay accrued and unpaid
interest to, but excluding, April 3, 2014 (the “Outside Redemption Date”) for all of the Notes. The Escrow Agreement provides that, on or prior to March 31, 2014 (the “Outside Date”), upon delivery to the
Escrow Agent of an officer’s certificate pursuant to Section 1.05(b) of the Escrow Agreement certifying that the Merger will be consummated, simultaneously or substantially concurrently with the release of funds from the Escrow Account, on
substantially the terms contemplated in the Merger Agreement as in effect on March 19, 2013, without any waiver or other modification thereof or consent thereunder that is materially adverse to the interest of the Holders (as reasonably
determined by the Company) (such certification and delivery, the “Escrow Release Conditions”), the Escrow Agent will release the Escrow Property to or at the order of the Company (the date of such release, the “Escrow
Release Date”). 
 (a) Unless the Escrow Release Conditions have been fulfilled or the Escrow Agent and the Trustee receive a
termination notice from the Company pursuant to Section 1.05(d) of the Escrow Agreement by 1:00 p.m. (New York City time) on the Outside Date, the Company shall redeem the Notes on the Outside Redemption Date, at a cash redemption price equal
to 101% of the principal amount of the Notes being redeemed (the “Special Redemption Price”), plus accrued and unpaid interest thereon to, but excluding, the Outside Redemption Date (such redemption, the “Outside
Redemption”), and on the Outside Redemption Date, the Trustee will effect the Outside Redemption on behalf of the Company. 
 (b)
If the Company delivers a termination notice to the Escrow Agent and the Trustee pursuant to Section 1.05(d) of the Escrow Agreement prior to the Outside Date, the Company shall redeem the Notes on the date that is three Business Days after the
Trustee sends the notice of Special Redemption to the Holders of the Notes (the “Termination Redemption Date”), at a cash redemption price equal to the Special Redemption Price, plus accrued and unpaid interest thereon to,
but excluding, the Termination Redemption Date (such redemption, the “Termination Redemption” and, each of the Outside Redemption and the Termination Redemption, a “Special Redemption”), and on the Termination
Redemption Date, the Trustee shall effect the Termination Redemption on behalf of the Company. 
 Section 4.3 Notice of Special
Redemption. 
 (a) If the Company is required to redeem the Notes pursuant to Section 4.2(a) hereof, the Trustee shall send a
notice of Special Redemption on behalf of the Company to the Holders of the Notes promptly after 1:00 p.m. (New York City time) on the Outside Date. 

(b) If the Company is required to redeem the Notes pursuant to Section 4.2(b) hereof, it shall notify the Trustee in writing of such
Special Redemption substantially concurrently with its delivery of the termination notice to the Escrow Agent and the Trustee pursuant to Section 1.05(d) of the Escrow Agreement, and no later than the next Business Day

  
 21 

 
following the Company’s delivery of such written notice to the Trustee, the Trustee shall send a notice of Special Redemption on behalf of the Company to the Holders of the Notes. 

(c) Notwithstanding the foregoing paragraph (b), the Company may rescind or revoke such written notice to the Trustee at any time prior to the
time at which the Trustee has given such notice of Special Redemption to the Holders of the Notes. 
 (d) The notice of Special Redemption
shall state: (i) the aggregate amount of Notes to be redeemed; (ii) the date of the Special Redemption; (iii) the Special Redemption Price and the amount of accrued and unpaid interest to be paid, if any; (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 Special Redemption Price plus accrued and unpaid interest, if any; (vi) that, unless the Company defaults in making
such redemption payment, interest on the Notes (or portion thereof) called for redemption ceases to accrue on and after the date of the Special Redemption; (vii) the CUSIP number, or any similar number, if any, printed on the Notes being
redeemed; and (viii) that no representation is made as to the correctness or accuracy of the CUSIP number, or any similar number, if any, listed in such notice or printed on the Notes. 

ARTICLE 5. 
 REMEDIES

 Section 5.1 Events of Default. 

(a) The provisions of Section 501 of the Base Indenture shall be applicable to the Notes; provided, however, that each
reference to the term “Guarantor” in clauses (5) and (6) of Section 501 of the Base Indenture shall be replaced with the term “Significant Subsidiary of ICE Group (or, if prior to the Escrow Release Date, of ICE).”

 (b) In addition, any of the following events will constitute an “Event of Default” with respect to the Notes: 

(i) a default on any Indebtedness of the Company or a Significant Subsidiary of ICE Group (or, if prior to the Escrow Release
Date, of ICE) having an aggregate amount of at least $200,000,000, constituting a default either of payment of principal or which results in acceleration of the Indebtedness unless the default has been cured or waived or the Indebtedness discharged
in full within 45 days after ICE Group has been notified of the default by the Trustee or Holders of 25% of the Outstanding aggregate principal amount of Securities of all affected series under the Indenture; and 

(ii) one or more final judgments for the payment of money in an aggregate amount in excess of $200,000,000 above available
insurance or indemnity coverage shall be rendered against ICE Group or a Significant Subsidiary of ICE Group (or, if prior to the Escrow Release Date, of ICE) and the same shall remain undischarged for a period of 45 consecutive days during which
execution shall not be effectively stayed, but only if such judgment is an event of default at that time under the Credit Agreement. 

  
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 (c) A default or Event of Default with respect to one series of Notes will not necessarily be a
default or Event of Default with respect to another series of Notes. 
 (d) The provisions of Section 502 of the Base Indenture shall
be applicable to the Notes; provided that any references in Section 502 to an “Event of Default specified in Section 501(5) or 501(6)” shall be amended with respect to the Notes by adding at the end thereof the words
“with respect to the Company or any Guarantor.” 
 ARTICLE 6. 

REPORTS 
 Section 6.1
Reports by Company. The Base Indenture is hereby amended, with respect to the Notes only, by replacing the text of Section 704 thereof with the following text: 

“The Company shall file such information, documents or reports required to be filed with the Commission pursuant to Section 13 or
15(d) of the Exchange Act with the Trustee within 15 days after the same is filed with the Commission. For purposes of this provision, any such information, document or report that the Company has filed with the Commission and that is
publicly accessible on the Commission’s EDGAR system (or any successor thereto) shall be deemed to be filed with the Trustee, it being understood that the Trustee shall have no responsibility whatsoever to determine if such filings have been
made. 
 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’s compliance with any of its covenants hereunder (as to which the Trustee is
entitled to rely exclusively on Officer’s Certificates).” 
 ARTICLE 7. 

AMENDMENTS 

Section 7.1 Amendments. Supplemental indentures modifying the Indenture and the terms of the Notes may be entered into in
accordance with Article IX of the Base Indenture, provided that the Base Indenture is hereby amended by deleting Section 902(2) thereof. 

ARTICLE 8. 
 THE
GUARANTEES 
 Section 8.1 Form of Guarantee. ICE and Baseball Merger Sub shall execute and deliver Guarantees, dated the
date of this First Supplemental Indenture, substantially in the forms of Exhibit C and Exhibit D attached hereto, respectively, which are hereby established pursuant to Section 201 of the Base Indenture as the forms of Guarantees
in respect of the Notes. 

  
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 Section 8.2 Release of Guarantee. 

(a) Prior to the Escrow Release Date, the Guarantee of a Guarantor will automatically terminate, and the obligations of such Guarantor under
such Guarantee will be unconditionally released and discharged, upon repayment of the Notes in full (including, without limitation, pursuant to a Special Redemption). 

(b) On and after the Escrow Release Date, the Guarantee of a Guarantor will automatically terminate, and the obligations of such Guarantor
under such Guarantee will be unconditionally released and discharged, pursuant to the provisions of the Guarantee executed and delivered by such Guarantor. Once released in accordance with its terms, the Guarantee of a Guarantor will not be required
to be reinstated for any reason, except to the extent expressly provided otherwise in such Guarantee. 
 Section 8.3 Officer’s
Certificate upon Release of Guarantee. If the Guarantee of any Guarantor is deemed to be released or is automatically released, the Company shall deliver to the Trustee an Officer’s Certificate stating the identity of the released Guarantor
and the basis for the release; provided that no Officer’s Certificate is required to be delivered for a Guarantee released pursuant to Section 8.2(a). Upon delivery by the Company to the Trustee of an Officer’s Certificate to
the foregoing effect, the Trustee will execute any documents reasonably required in order to evidence the release of the Guarantor from its obligations under its Guarantee. 

ARTICLE 9. 
 DEFEASANCE

 Section 9.1 Company’s Option to Effect Defeasance or Covenant Defeasance. Pursuant to Section 301 of the Base
Indenture, the Company hereby designates both series of Notes as being defeasible under Section 1402 or Section 1403 of the Base Indenture. The provisions of Article Fourteen of the Base Indenture shall be applicable to the Notes, subject
to Section 9.2 hereof. 
 Section 9.2 Covenant Defeasance. 

(a) Upon the Company’s exercise of its option to have Section 1403 of the Base Indenture applied to either series of Notes, in
addition to the provisions in clauses (1) and (2) of Section 1403 of the Base Indenture, the occurrence of any event specified under Section 5.1(b) hereof shall be deemed not to be or result in an Event of Default and the
Guarantees executed and delivered pursuant to Section 8.1 hereof shall no longer apply, in each case with respect to such Notes as provided in Section 1403 of the Base Indenture on and after the date the conditions set forth in
Section 1404 of the Base Indenture (as amended by paragraph (b) of this Section) are satisfied; provided that the Base Indenture is hereby amended by deleting “and 501(5)” from clause (2) of Section 1403 thereof.

 (b) The Base Indenture is hereby amended, with respect to the conditions to the application of Section 1403 thereof only, by striking
the text “in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee,” from clause (C) of paragraph (1) of Section 1404 thereof.

  
 24 

 ARTICLE 10. 

MISCELLANEOUS 

Section 10.1 Execution as Supplemental Indenture. This First Supplemental Indenture is executed and shall be construed as an
indenture supplemental to the Base Indenture and, as provided in the Base Indenture, this First Supplemental Indenture forms a part thereof. 

Section 10.2 Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with another provision
hereof, or with a provision of the Base Indenture, which is required to be included in this First Supplemental Indenture, or in the Base Indenture, respectively, by any of the provisions of the Trust Indenture Act, such required provision shall
control to the extent it is applicable. 
 Section 10.3 Certificates, Opinions, Etc. In any case where, pursuant to the Base
Indenture with respect to the Notes or this First Supplemental Indenture or pursuant to the Indenture, several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be
certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to
other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions
or other instruments under the Base Indenture with respect to the Notes or this First Supplemental Indenture or under the Indenture, they may, but need not, be consolidated and form one instrument. 

Section 10.4 Effect of Headings. The Article and Section headings herein are for convenience only and shall not affect
the construction hereof. 
 Section 10.5 Successors and Assigns. All covenants and agreements by the Company, the Guarantors and
the Trustee in this First Supplemental Indenture shall bind its successors and assigns, whether so expressed or not. 
 Section 10.6
Separability Clause. In case any provision in this First Supplemental 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 10.7 Benefits of First Supplemental Indenture. Nothing in this First Supplemental Indenture or
in the Notes, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this First Supplemental Indenture. 

Section 10.8 Execution and Counterparts. This First Supplemental Indenture may be executed in any number of counterparts (which
may be delivered by means of facsimile or e-mail), each of which shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

  
 25 

 Section 10.9 Governing Law. This First Supplemental Indenture and the Notes shall be
governed by and construed in accordance with the laws of the State of New York. 
 [Remainder of page intentionally left blank] 

  
 26 

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

			
	COMPANY
	
	INTERCONTINENTALEXCHANGE GROUP, INC.
		
	By:	 	 /s/ Scott A. Hill

	Name:	 	Scott A. Hill
	Title:	 	Vice President, Chief Financial Officer
	
	GUARANTORS
	
	INTERCONTINENTALEXCHANGE, INC.
		
	By:	 	 /s/ Scott A. Hill

	Name:	 	Scott A. Hill
	Title:	 	Senior Vice President, Chief Financial Officer
	
	BASEBALL MERGER SUB, LLC
	
	 BY ITS SOLE MEMBER,

INTERCONTINENTALEXCHANGE GROUP, INC.

		
	By:	 	 /s/ Scott A. Hill

	Name:	 	Scott A. Hill
	Title:	 	Vice President, Chief Financial Officer

 First Supplemental Indenture Signature Page 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Stefan Victory

	Name:	 	Stefan Victory
	Title:	 	Vice President

 First Supplemental Indenture Signature Page 

 EXHIBIT A 

[FORM OF FACE OF 2.50% SENIOR NOTE DUE 2018] 

[THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE
THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.] 
 [Insert any legend required by the Internal Revenue Code and
the regulations thereunder.] 
 INTERCONTINENTALEXCHANGE GROUP, INC. 

2.50% Senior Notes due 2018 
  

			
	No.	  	
$                        

 CUSIP No. 45866F AB0 

IntercontinentalExchange Group, Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called the
“Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                    , or registered assigns, the principal sum of          Dollars on October 15, 2018,
and to pay interest thereon from the most recent Interest Payment Date (or with respect to the first interest payment, the Issue Date) to which interest has been paid or duly provided for, semi-annually on April 15 and October 15 in each
year, commencing April 15, 2014, and at the Maturity thereof, at the rate of 2.50% per annum, until the principal hereof is paid or made available for payment, provided that any principal and premium, and any such installment of
interest (including post-petition interest in any proceeding under any Bankruptcy Law), which is overdue shall bear interest at the rate of 2.50% per annum (to the extent that the payment of such interest shall be legally enforceable), from the
dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such
Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be April 1 or October 1 (whether or not a
Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest so payable, but not punctually paid or duly provided for, on any Interest Payment Date will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the

  
 A-F-1 

 
requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said
Indenture. 
 The Securities will be guaranteed by ICE and Baseball Merger Sub in accordance with the terms of the Indenture and their
respective Guarantees. 
 Payment of the principal of (and premium, if any) and interest on this Security will be made at the office or
agency maintained for that purpose in New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, against surrender of this Security in the case of
any payment due at the Maturity of the principal hereof (other than any payment of interest that first becomes payable on a day other than an Interest Payment Date); provided, however, that at the option of the Company payment of
interest may be made (1) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, or (2) by wire transfer in immediately available funds at the bank account number maintained
within the United States as may be designated by the Person entitled thereto, as specified in the Securities Register in writing; and provided, further, that if this Security is a Global Security, payment may be made pursuant to the
Applicable Procedures of the Depositary as permitted in the Indenture. 
 Reference is hereby made to the further provisions of this
Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

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

  
 A-F-2 

 IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed. 
  

			
	INTERCONTINENTALEXCHANGE GROUP, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Global Note Signature
Page 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

Dated: 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	As Trustee
		
	By	 	  

		 	Authorized Signatory

  
 Global Note Signature
Page 

 [FORM OF REVERSE OF 2.50% SENIOR NOTE DUE 2018] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to
be issued in one or more series under a Senior Debt Indenture, dated as of October 8, 2013 (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of October 8, 2013 (the “First
Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), between the Company, the Guarantors and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee,”
which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the
Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof initially limited in aggregate principal amount to $600,000,000.
The Company may from time to time or at any time, without notice to, or the consent of, any Holder of Securities of this series, create and issue additional Securities having the same terms as Securities of this series (except for public offering
price, issue date and, if applicable, the initial interest accrual date and first Interest Payment Date), which additional Securities may increase the aggregate principal amount of the Securities of this series and, together with the Securities of
this series, will constitute a single series under the Indenture and vote together as one class on all matters with respect to the Securities of this series; provided, however, that any additional Securities that are not fungible with
existing Securities of this series for U.S. federal income tax purposes will have a separate CUSIP, ISIN and other identifying number than the existing Securities of this series. 

As provided in Section 4.1 of the First Supplemental Indenture, the Securities of this series are subject to redemption at any time in
whole or from time to time in part, on a date to be fixed by the Company on not more than 60 days’ and not less than 30 days’ prior written notice, at a redemption price (the “Optional Redemption Price”) equal to
the greater of: (i) 100% of the principal amount of the Securities to be redeemed; and (ii) the sum of (x) the present values of the remaining scheduled payments of principal and interest on the Securities to be redeemed (exclusive of
interest accrued to the date of redemption) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), at the Adjusted Treasury Rate plus 20 basis points, plus accrued and unpaid interest
to but excluding the Redemption Date. 
 As provided in Section 4.2 of the First Supplemental Indenture, the Securities of this series
are subject to Special Redemption, on the date that is three Business Days after the Trustee sends the notice of Special Redemption to Holders of the Securities, at a cash redemption price equal to 101% of the principal amount of the Securities
being redeemed (the “Special Redemption Price”), plus accrued and unpaid interest thereon to, but excluding, the applicable redemption date, if (i) the Escrow Release Conditions have not been fulfilled or the Escrow
Agent and the Trustee have not received a termination notice from the Company pursuant to Section 1.05(d) of the Escrow Agreement by 1:00 p.m. (New York City time) on the Outside Date or if (ii) the Company delivers a termination notice to
the Escrow Agent and the Trustee pursuant to Section 1.05(d) of the Escrow Agreement prior to 1:00 p.m. (New York City time) on the Outside Date. 

  
 A-R-1 

 This Security will not be subject to any sinking fund. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and
Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 In the
event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of not less than a majority in principal amount of the Securities at the time Outstanding of all series to be affected. The Indenture also contains provisions (i) permitting the Holders of not less
than a majority of the aggregate principal amount of the Securities of all affected series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the
Indenture with respect to such series and (ii) permitting the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected under the Indenture, on behalf of the Holders of all Securities of
such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of
any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any
proceeding with respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of at least 25% of the principal amount of the Securities of all affected series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of all affected series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement
of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

  
 A-R-2 

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

 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the
Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by
a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like
tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and any integral multiples of
$1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a
different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

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

[This Security is a Global Security and is subject to the provisions of the Indenture relating to Global Securities, including the limitations
in Section 305 of the Base Indenture and Section 2.4 and Section 2.6 of the First Supplemental Indenture on transfers and exchanges of Global Securities.] 

Interest on the principal balance of this Security shall be calculated on the basis of a 360-day year of twelve 30-day months. 

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

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 A-R-3 

 EXHIBIT B 

[FORM OF FACE OF 4.00% SENIOR NOTE DUE 2023] 

[THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE
THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.] 
 [Insert any legend required by the Internal Revenue Code and
the regulations thereunder.] 
 INTERCONTINENTALEXCHANGE GROUP, INC. 

4.00% Senior Notes due 2023 
  

			
	No.	  	
$                        

 CUSIP No. 45866F AA2 

IntercontinentalExchange Group, Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called the
“Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                    , or registered assigns, the principal sum of          Dollars on October 15, 2023,
and to pay interest thereon from the most recent Interest Payment Date (or with respect to the first interest payment, the Issue Date) to which interest has been paid or duly provided for, semi-annually on April 15 and October 15 in each
year, commencing April 15, 2014, and at the Maturity thereof, at the rate of 4.00% per annum, until the principal hereof is paid or made available for payment, provided that any principal and premium, and any such installment of
interest (including post-petition interest in any proceeding under any Bankruptcy Law), which is overdue shall bear interest at the rate of 4.00% per annum (to the extent that the payment of such interest shall be legally enforceable), from the
dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such
Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be April 1 or October 1 (whether or not a
Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest so payable, but not punctually paid or duly provided for, on any Interest Payment Date will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the

  
 B-F-1 

 
requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said
Indenture. 
 The Securities will be guaranteed by ICE and Baseball Merger Sub in accordance with the terms of the Indenture and their
respective Guarantees. 
 Payment of the principal of (and premium, if any) and interest on this Security will be made at the office or
agency maintained for that purpose in New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, against surrender of this Security in the case of
any payment due at the Maturity of the principal hereof (other than any payment of interest that first becomes payable on a day other than an Interest Payment Date); provided, however, that at the option of the Company payment of
interest may be made (1) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, or (2) by wire transfer in immediately available funds at the bank account number maintained
within the United States as may be designated by the Person entitled thereto, as specified in the Securities Register in writing; and provided, further, that if this Security is a Global Security, payment may be made pursuant to the
Applicable Procedures of the Depositary as permitted in the Indenture. 
 Reference is hereby made to the further provisions of this
Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

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

  
 B-F-2 

 IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed. 
  

			
	INTERCONTINENTALEXCHANGE GROUP, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Global Note Signature
Page 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

Dated: 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	As Trustee
		
	By	 	  

		 	Authorized Signatory

  
 Global Note Signature
Page 

 [FORM OF REVERSE OF 4.00% SENIOR NOTE DUE 2023] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to
be issued in one or more series under a Senior Debt Indenture, dated as of October 8, 2013 (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of October 8, 2013 (the “First
Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), between the Company, the Guarantors and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee,”
which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the
Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof initially limited in aggregate principal amount to $800,000,000.
The Company may from time to time or at any time, without notice to, or the consent of, any Holder of Securities of this series, create and issue additional Securities having the same terms as Securities of this series (except for public offering
price, issue date and, if applicable, the initial interest accrual date and first Interest Payment Date), which additional Securities may increase the aggregate principal amount of the Securities of this series and, together with the Securities of
this series, will constitute a single series under the Indenture and vote together as one class on all matters with respect to the Securities of this series; provided, however, that any additional Securities that are not fungible with
existing Securities of this series for U.S. federal income tax purposes will have a separate CUSIP, ISIN and other identifying number than the existing Securities of this series. 

As provided in Section 4.1 of the First Supplemental Indenture, the Securities of this series are subject to redemption at any time in
whole or from time to time in part, on a date to be fixed by the Company on not more than 60 days’ and not less than 30 days’ prior written notice, at a redemption price (the “Optional Redemption Price”) equal to
the greater of: (i) 100% of the principal amount of the Securities to be redeemed; and (ii) the sum of (x) the present values of the remaining scheduled payments of principal and interest on the Securities to be redeemed (exclusive of
interest accrued to the date of redemption) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), at the Adjusted Treasury Rate plus 25 basis points, plus accrued and unpaid interest
to but excluding the Redemption Date. 
 As provided in Section 4.2 of the First Supplemental Indenture, the Securities of this series
are subject to Special Redemption, on the date that is three Business Days after the Trustee sends the notice of Special Redemption to Holders of the Securities, at a cash redemption price equal to 101% of the principal amount of the Securities
being redeemed (the “Special Redemption Price”), plus accrued and unpaid interest thereon to, but excluding, the applicable redemption date, if (i) the Escrow Release Conditions have not been fulfilled or the Escrow
Agent and the Trustee have not received a termination notice from the Company pursuant to Section 1.05(d) of the Escrow Agreement by 1:00 p.m. (New York City time) on the Outside Date or if (ii) the Company delivers a termination notice to
the Escrow Agent and the Trustee pursuant to Section 1.05(d) of the Escrow Agreement prior to 1:00 p.m. (New York City time) on the Outside Date. 

  
 B-R-1 

 This Security will not be subject to any sinking fund. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and
Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 In the
event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of not less than a majority in principal amount of the Securities at the time Outstanding of all series to be affected. The Indenture also contains provisions (i) permitting the Holders of not less
than a majority of the aggregate principal amount of the Securities of all affected series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the
Indenture with respect to such series and (ii) permitting the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected under the Indenture, on behalf of the Holders of all Securities of
such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of
any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any
proceeding with respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of at least 25% of the principal amount of the Securities of all affected series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of all affected series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement
of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

  
 B-R-2 

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

 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the
Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by
a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like
tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and any integral multiples of
$1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a
different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

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

[This Security is a Global Security and is subject to the provisions of the Indenture relating to Global Securities, including the limitations
in Section 305 of the Base Indenture and Section 2.4 and Section 2.6 of the First Supplemental Indenture on transfers and exchanges of Global Securities.] 

Interest on the principal balance of this Security shall be calculated on the basis of a 360-day year of twelve 30-day months. 

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

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 B-R-3 

 EXHIBIT C 

[FORM OF ICE GUARANTEE] 
 This
Guarantee is being delivered by IntercontinentalExchange, Inc. (the “Guarantor”) pursuant to Section 8.1 of the First Supplemental Indenture, dated as of October 8, 2013 (the “First Supplemental
Indenture”), among IntercontinentalExchange Group, Inc. (the “Company”), the Guarantors (as defined therein) and Wells Fargo Bank, National Association, as Trustee (the “Trustee”), relating to the issuance
by the Company of its 2.50% Senior Notes due 2018 and 4.00% Senior Notes due 2023 (collectively, the “Notes”) under its indenture, dated as of October 8, 2013 (the “Base Indenture” and, together with the First
Supplemental Indenture, the “Indenture”). Capitalized terms used and not otherwise defined in this Guarantee shall have the respective meanings assigned to them in the Indenture. 

1. Guarantee. 

a. The Guarantor hereby fully and unconditionally guarantees to each Holder and the Trustee for the benefit of the Holders
(collectively, in such capacity, the “Guaranteed Parties”), on an unsecured basis, the full and prompt payment of principal of, premium, if any, and interest on the Notes, when and as the same become due and payable, whether at
stated maturity, upon redemption, by declaration of acceleration or otherwise, including all fees and expenses due and owing to the Trustee (all liabilities and obligations described in this clause (a), collectively, the “Guaranteed
Obligations”). 
 b. Notwithstanding the provisions of subsection (a) above and notwithstanding any other
provisions contained herein or in the Notes or the Indenture: 
 i. no provision of this Guarantee shall require or permit
the collection from the Guarantor of interest in excess of the maximum rate or amount that the Guarantor may be required or permitted to pay pursuant to applicable law; and 

ii. the liability of the Guarantor under this Guarantee as of any date shall be limited to a maximum aggregate amount (the
“Maximum Guaranteed Amount”) equal to the greatest amount that would not render the Guarantor’s obligations under this Guarantee subject to avoidance, discharge or reduction as of such date as a fraudulent transfer or
conveyance under applicable federal and state laws pertaining to bankruptcy, reorganization, arrangement, moratorium, readjustment of debts, dissolution, liquidation or other debtor relief, specifically including, without limitation, the Bankruptcy
Code and any fraudulent transfer and fraudulent conveyance laws (collectively, “Insolvency Laws”), in each instance after giving effect to all other liabilities of the Guarantor, contingent or otherwise, that are relevant under
applicable Insolvency Laws (specifically excluding, however, any liabilities of the Guarantor in respect of intercompany indebtedness to the Company or any of its Affiliates to the extent that such indebtedness would be discharged in an amount equal
to the amount paid by the Guarantor hereunder, and after giving effect as assets to the value (as determined under applicable Insolvency Laws) of any rights to subrogation, contribution, 

  
 C-1 

 
reimbursement, indemnity or similar rights of the Guarantor pursuant to (y) applicable law or (z) any agreement (including this Guarantee) providing for an equitable allocation among
the Guarantor and other Affiliates of the Company of obligations arising under guaranties by such parties). 
 c. The
guarantee of the Guarantor set forth in this Section is a guarantee of payment as a primary obligor, and not a guarantee of collection. The Guarantor hereby acknowledges and agrees that the Guaranteed Obligations, at any time and from time to time,
may exceed the Maximum Guaranteed Amount, in each case without discharging, limiting or otherwise affecting the obligations of the Guarantor hereunder or the rights, powers and remedies of any Guaranteed Party hereunder or under the Notes or the
Indenture. 
 2. Guarantee Absolute. The Guarantor agrees that its obligations hereunder are irrevocable, absolute and unconditional,
are independent of the Guaranteed Obligations and any security therefor or other guarantee or liability in respect thereof, whether given by the Guarantor or any other Person, and shall not be discharged, limited or otherwise affected by reason of
any of the following, whether or not the Guarantor has notice or knowledge thereof: 
 a. any change in the time, manner or
place of payment of, or in any other term of, any Guaranteed Obligations or any guarantee, security or other liability in respect thereof, or any amendment, modification or supplement to, restatement of, or consent to any rescission or waiver of or
departure from, any provisions of the Notes or the Indenture, or any agreement or instrument delivered pursuant to any of the foregoing; 

b. the invalidity or unenforceability of any Guaranteed Obligations, any guarantee, security or other liability in respect
thereof or any provisions of the Notes or the Indenture, or any agreement or instrument delivered pursuant to any of the foregoing; 

c. the addition or release of any other guarantor or the taking, acceptance or release of other guarantees of any Guaranteed
Obligations or for any guarantee, security or other liability in respect thereof; 
 d. any discharge, modification,
settlement, compromise or other action in respect of any Guaranteed Obligations or any guarantee, security or other liability in respect thereof, including any acceptance or refusal of any offer or performance with respect to the same or the
subordination of the same to the payment of any other obligations; 
 e. any agreement not to pursue or enforce or any
failure to pursue or enforce (whether voluntarily or involuntarily as a result of operation of law, court order or otherwise) any right or remedy in respect of any Guaranteed Obligations, any guarantee, security or other liability in respect
thereof; 
 f. the exercise of any right or remedy available under the Notes or the Indenture, at law, in equity or otherwise
in respect of any guarantee, security or other liability for any Guaranteed Obligations, in any order and by any manner thereby permitted; 

  
 C-2 

 g. any bankruptcy, reorganization, arrangement, liquidation, insolvency,
dissolution, termination, reorganization or like change in the corporate structure or existence of the Company or any other Person directly or indirectly liable for any Guaranteed Obligations; 

h. any manner of application of any payments by or amounts received or collected from any Person, by whomsoever paid and
howsoever realized, whether in reduction of any Guaranteed Obligations or any other obligations of the Company or any other Person directly or indirectly liable for any Guaranteed Obligations, regardless of what Guaranteed Obligations may remain
unpaid after any such application; or 
 i. any other circumstance that might otherwise constitute a legal or equitable
discharge of, or a defense, set-off or counterclaim available to, the Company, any Guarantor or a surety or guarantor generally, other than (i) the payment in full in cash of the Guaranteed Obligations (other than contingent and indemnification
obligations not then due and payable), (ii) satisfaction and discharge of the Indenture in accordance with Section 401 of the Base Indenture, (iii) defeasance or covenant defeasance in accordance with Section 1402 or
Section 1403 of the Base Indenture or (iv) Special Redemption of the Notes in accordance with Section 4.2 of the First Supplemental Indenture (the satisfaction of any of these conditions shall constitute the “Termination
Requirement”). 
 3. Certain Waivers. The Guarantor hereby knowingly, voluntarily and expressly waives: 

a. presentment, demand for payment, demand for performance, protest and notice of any other kind, including, without
limitation, notice of nonpayment or other nonperformance (including notice of default under the Notes or the Indenture with respect to any Guaranteed Obligations), protest, dishonor, acceptance hereof, extension of additional credit to the Company
and of any of the matters referred to in Section 2 hereof and of any rights to consent thereto; 
 b. any right to
require the Guaranteed Parties or any of them, as a condition of payment or performance by the Guarantor hereunder, to proceed against, or to exhaust or have resort to any collateral or other security from or any deposit balance or other credit in
favor of, the Company, any other Guarantor or any other Person directly or indirectly liable for any Guaranteed Obligations, or to pursue any other remedy or enforce any other right; and any other defense based on an election of remedies with
respect to any collateral or other security for any Guaranteed Obligations or for any guarantee or other liability in respect thereof, notwithstanding that any such election (including any failure to pursue or enforce any rights or remedies) may
impair or extinguish any right of indemnification, contribution, reimbursement or subrogation or other right or remedy of the Guarantor against the Company, any other Guarantor or any other Person directly or indirectly liable for any Guaranteed
Obligations or any such collateral or other security; 
 c. any right or defense based on or arising by reason of any right
or defense of the Company or any other Person, including, without limitation, any defense based on 

  
 C-3 

 
or arising from a lack of authority or other disability of the Company or any other Person, the invalidity or unenforceability of any Guaranteed Obligations, any Notes or the Indenture or other
agreement or instrument delivered pursuant thereto, or the cessation of the liability of the Company for any reason other than the satisfaction of the Termination Requirement; 

d. any defense based on any Guaranteed Party’s acts or omissions in the administration of the Guaranteed Obligations, any
guarantee, security or other liability in respect thereof or any collateral or other security for any of the foregoing, and promptness, diligence, or any requirement that any Guaranteed Party create, protect, perfect, secure, insure, continue or
maintain any Liens in any such security; 
 e. any right to assert against any Guaranteed Party, as a defense, counterclaim,
crossclaim or set-off, any defense, counterclaim, claim, right of recoupment or set-off that it may at any time have against any Guaranteed Party in respect of the Guaranteed Obligations (including, without limitation, failure of consideration,
fraud, fraudulent inducement, statute of limitations, payment, accord and satisfaction and usury), other than compulsory counterclaims and other than the indefeasible payment in full in cash of the Guaranteed Obligations; and 

f. any defense based on or afforded by any applicable law that limits the liability of or exonerates guarantors or sureties or
that may in any other way conflict with the terms of this Guarantee. 
 4. No Subrogation. The Guarantor hereby agrees that, until
satisfaction of the Termination Requirement, it will not exercise any claim or right that it may have against the Company or any other Guarantor at any time as a result of any payment made by the Guarantor under or pursuant to this Guarantee or the
performance or enforcement hereof, including any right of subrogation to the rights of any of the Guaranteed Parties against the Company or any other Guarantor, any right of indemnity, contribution or reimbursement against the Company or any other
Guarantor, any right to enforce any remedies of any Guaranteed Party against the Company or any other Guarantor, or any benefit of, or any right to participate in, any security held by any Guaranteed Party to secure payment of the Guaranteed
Obligations, in each case whether such claims or rights arise by contract, statute (including without limitation any applicable Insolvency Laws), common law or otherwise. The Guarantor further agrees that if any amount shall be paid to or any
distribution received by the Guarantor on account of any such rights of subrogation, indemnity, contribution or reimbursement at any time prior to the satisfaction of the Termination Requirement, such amount or distribution shall be deemed to have
been received and to be held in trust for the benefit of the Guaranteed Parties, and shall forthwith be delivered to the Trustee in the form received (with any necessary endorsements in the case of written instruments), to be applied against the
Guaranteed Obligations, whether or not matured, in accordance with the terms of the Notes and the Indenture, as applicable, and without in any way discharging, limiting or otherwise affecting the liability of the Guarantor under any other provision
of this Guarantee. 

  
 C-4 

 5. Payments; Application; Set-Off. 

a. The Guarantor agrees that, upon the failure of the Company to pay any Guaranteed Obligations when and as the same shall
become due (whether at the Stated Maturity, by acceleration or otherwise), and without limitation of any other right or remedy that any Guaranteed Party may have at law, in equity or otherwise against the Guarantor, the Guarantor will, subject to
the provisions of Section 1(b), forthwith pay or cause to be paid to the Trustee, for the benefit of the Guaranteed Parties, an amount equal to the amount of the Guaranteed Obligations then due and owing as aforesaid. 

b. All payments made by the Guarantor hereunder will be made in Dollars to the Trustee, without set-off, counterclaim or other
defense, the Guarantor hereby agreeing to comply with and be bound by the provisions of the Indenture in respect of all payments made by it hereunder. 

6. No Waiver. The rights and remedies of the Guaranteed Parties expressly set forth in this Guarantee, the Notes and the Indenture are
cumulative and in addition to, and not exclusive of, all other rights and remedies available at law, in equity or otherwise. No failure or delay on the part of any Guaranteed Party in exercising any right, power or privilege shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege or be construed to be a waiver of any Default or
Event of Default. No course of dealing between the Guarantor and the Guaranteed Parties or any Affiliate thereof (or the partners, directors, officers, employees, agents, trustees and advisors of any of the foregoing) shall be effective to amend,
modify or discharge any provision of this Guarantee, the Notes or the Indenture or to constitute a waiver of any Default or Event of Default. No notice to or demand upon the Guarantor in any case shall entitle the Guarantor to any other or further
notice or demand in similar or other circumstances or constitute a waiver of the right of any Guaranteed Party to exercise any right or remedy or take any other or further action in any circumstances without notice or demand. 

7. Enforcement; Reinstatement. The obligations of the Guarantor hereunder are independent of the Guaranteed Obligations, and a separate
action or actions may be brought against the Guarantor whether or not action is brought against the Company or any other Guarantor and whether or not the Company or any other Guarantor is joined in any such action. The Guarantor agrees that to the
extent all or part of any payment of the Guaranteed Obligations is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid under any Insolvency Laws (the amount of any such payment, a
“Reclaimed Amount”), then, to the extent of such Reclaimed Amount, this Guarantee shall continue in full force and effect or be revived and reinstated, as the case may be, as to the Guaranteed Obligations intended to be satisfied as
if such payment had not been received; and the Guarantor acknowledges that the term “Guaranteed Obligations” includes all Reclaimed Amounts that may arise from time to time. 

8. Amendments, Waivers, etc. No amendment, modification, waiver, discharge or termination of, or consent to any departure by the
Guarantor from, any provision of this Guarantee, shall be effective unless in a supplemental indenture signed by the Trustee, without consent of the Holders pursuant to Section 901 of the Base Indenture or with the consent of Holders of not
less than a majority in principal amount of the Outstanding Securities of all series 

  
 C-5 

 
affected by such supplemental indenture pursuant to Section 902 of the Base Indenture (as supplemented by Section 7.1 of the First Supplemental Indenture), as the case may be, and then
the same shall be effective only in the specific instance and for the specific purpose for which given. 
 9. Release.
Notwithstanding anything else herein, the Guarantor shall be released from its obligations under this Guarantee and this Guarantee shall terminate, without any need for further action by the Trustee or any Holder, at any time, upon satisfaction of
any Termination Requirement under Section 2(i) hereof and, on and after the Escrow Release Date, if and when the Guarantor is no longer (or substantially simultaneously with such release will no longer be) an obligor (either borrower or
guarantor) under the Credit Agreement. 
 10. Continuing Guarantee; Term; Successors and Assigns. This Guarantee is a continuing
guarantee and covers all of the Guaranteed Obligations as the same may arise and be outstanding at any time and from time to time from and after the date hereof, and shall (i) remain in full force and effect until release pursuant to
Section 9 hereof and (ii) be binding upon and enforceable against the Guarantor and its successors and assigns. 
 11.
Governing Law. This Guarantee shall be governed by, and construed and enforced in accordance with, the laws of the State of New York (including Sections 5-1401 and 5-1402 of the New York General Obligations Law, but excluding all other choice
of law and conflicts of law rules). 
 12. Severability. To the extent any provision of this Guarantee is prohibited by or invalid
under the applicable law of any jurisdiction, such provision shall be ineffective only to the extent of such prohibition or invalidity and only in such jurisdiction, without prohibiting or invalidating such provision in any other jurisdiction or the
remaining provisions of this Guarantee in any jurisdiction. 
 13. Construction. The headings of the various sections and subsections
of this Guarantee have been inserted for convenience only and shall not in any way affect the meaning or construction of any of the provisions hereof. Unless the context otherwise requires, words in the singular include the plural and words in the
plural include the singular. 
 14. Counterparts; Effectiveness. This Guarantee may be executed in any number of counterparts. This
Guarantee shall become effective upon the execution and delivery by the Guarantor of a counterpart hereof. 
 [Remainder of page
intentionally left blank] 

  
 C-6 

 IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be executed under seal by
its duly authorized officers as of the date first above written. 
  

			
	INTERCONTINENTALEXCHANGE, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Guaranty Agreement
Signature Page 

 EXHIBIT D 

[FORM OF BASEBALL MERGER SUB GUARANTEE] 

This Guarantee is being delivered by Baseball Merger Sub, LLC (the “Guarantor”) pursuant to Section 8.1 of the First
Supplemental Indenture, dated as of October 8, 2013 (the “First Supplemental Indenture”), among IntercontinentalExchange Group, Inc. (the “Company”), the Guarantors (as defined therein) and Wells Fargo Bank,
National Association, as Trustee (the “Trustee”), relating to the issuance by the Company of its 2.50% Senior Notes due 2018 and 4.00% Senior Notes due 2023 (collectively, the “Notes”) under its indenture, dated as
of October 8, 2013 (the “Base Indenture” and, together with the First Supplemental Indenture, the “Indenture”). Capitalized terms used and not otherwise defined in this Guarantee shall have the respective
meanings assigned to them in the Indenture. 
 1. Guarantee. 

a. The Guarantor hereby fully and unconditionally guarantees to each Holder and the Trustee for the benefit of the Holders
(collectively, in such capacity, the “Guaranteed Parties”), on an unsecured basis, the full and prompt payment of principal of, premium, if any, and interest on the Notes, when and as the same become due and payable, whether at
stated maturity, upon redemption, by declaration of acceleration or otherwise, including all fees and expenses due and owing to the Trustee (all liabilities and obligations described in this clause (a), collectively, the “Guaranteed
Obligations”). 
 b. Notwithstanding the provisions of subsection (a) above and notwithstanding any other
provisions contained herein or in the Notes or the Indenture: 
 i. no provision of this Guarantee shall require or permit
the collection from the Guarantor of interest in excess of the maximum rate or amount that the Guarantor may be required or permitted to pay pursuant to applicable law; and 

ii. the liability of the Guarantor under this Guarantee as of any date shall be limited to a maximum aggregate amount (the
“Maximum Guaranteed Amount”) equal to the greatest amount that would not render the Guarantor’s obligations under this Guarantee subject to avoidance, discharge or reduction as of such date as a fraudulent transfer or
conveyance under applicable federal and state laws pertaining to bankruptcy, reorganization, arrangement, moratorium, readjustment of debts, dissolution, liquidation or other debtor relief, specifically including, without limitation, the Bankruptcy
Code and any fraudulent transfer and fraudulent conveyance laws (collectively, “Insolvency Laws”), in each instance after giving effect to all other liabilities of the Guarantor, contingent or otherwise, that are relevant under
applicable Insolvency Laws (specifically excluding, however, any liabilities of the Guarantor in respect of intercompany indebtedness to the Company or any of its Affiliates to the extent that such indebtedness would be discharged in an amount equal
to the amount paid by the Guarantor hereunder, and after giving effect as assets to the value (as determined under applicable Insolvency Laws) of any rights to subrogation, contribution, 

  
 D-1 

 
reimbursement, indemnity or similar rights of the Guarantor pursuant to (y) applicable law or (z) any agreement (including this Guarantee) providing for an equitable allocation among
the Guarantor and other Affiliates of the Company of obligations arising under guaranties by such parties). 
 c. The
guarantee of the Guarantor set forth in this Section is a guarantee of payment as a primary obligor, and not a guarantee of collection. The Guarantor hereby acknowledges and agrees that the Guaranteed Obligations, at any time and from time to time,
may exceed the Maximum Guaranteed Amount, in each case without discharging, limiting or otherwise affecting the obligations of the Guarantor hereunder or the rights, powers and remedies of any Guaranteed Party hereunder or under the Notes or the
Indenture. 
 2. Guarantee Absolute. The Guarantor agrees that its obligations hereunder are irrevocable, absolute and unconditional,
are independent of the Guaranteed Obligations and any security therefor or other guarantee or liability in respect thereof, whether given by the Guarantor or any other Person, and shall not be discharged, limited or otherwise affected by reason of
any of the following, whether or not the Guarantor has notice or knowledge thereof: 
 a. any change in the time, manner or
place of payment of, or in any other term of, any Guaranteed Obligations or any guarantee, security or other liability in respect thereof, or any amendment, modification or supplement to, restatement of, or consent to any rescission or waiver of or
departure from, any provisions of the Notes or the Indenture, or any agreement or instrument delivered pursuant to any of the foregoing; 

b. the invalidity or unenforceability of any Guaranteed Obligations, any guarantee, security or other liability in respect
thereof or any provisions of the Notes or the Indenture, or any agreement or instrument delivered pursuant to any of the foregoing; 

c. the addition or release of any other guarantor or the taking, acceptance or release of other guarantees of any Guaranteed
Obligations or for any guarantee, security or other liability in respect thereof; 
 d. any discharge, modification,
settlement, compromise or other action in respect of any Guaranteed Obligations or any guarantee, security or other liability in respect thereof, including any acceptance or refusal of any offer or performance with respect to the same or the
subordination of the same to the payment of any other obligations; 
 e. any agreement not to pursue or enforce or any
failure to pursue or enforce (whether voluntarily or involuntarily as a result of operation of law, court order or otherwise) any right or remedy in respect of any Guaranteed Obligations, any guarantee, security or other liability in respect
thereof; 
 f. the exercise of any right or remedy available under the Notes or the Indenture, at law, in equity or otherwise
in respect of any guarantee, security or other liability for any Guaranteed Obligations, in any order and by any manner thereby permitted; 

  
 D-2 

 g. any bankruptcy, reorganization, arrangement, liquidation, insolvency,
dissolution, termination, reorganization or like change in the corporate structure or existence of the Company or any other Person directly or indirectly liable for any Guaranteed Obligations; 

h. any manner of application of any payments by or amounts received or collected from any Person, by whomsoever paid and
howsoever realized, whether in reduction of any Guaranteed Obligations or any other obligations of the Company or any other Person directly or indirectly liable for any Guaranteed Obligations, regardless of what Guaranteed Obligations may remain
unpaid after any such application; or 
 i. any other circumstance that might otherwise constitute a legal or equitable
discharge of, or a defense, set-off or counterclaim available to, the Company, any Guarantor or a surety or guarantor generally, other than (i) the payment in full in cash of the Guaranteed Obligations (other than contingent and indemnification
obligations not then due and payable), (ii) satisfaction and discharge of the Indenture in accordance with Section 401 of the Base Indenture, (iii) defeasance or covenant defeasance in accordance with Section 1402 or
Section 1403 of the Base Indenture or (iv) Special Redemption of the Notes in accordance with Section 4.2 of the First Supplemental Indenture (the satisfaction of any of these conditions shall constitute the “Termination
Requirement”). 
 3. Certain Waivers. The Guarantor hereby knowingly, voluntarily and expressly waives: 

a. presentment, demand for payment, demand for performance, protest and notice of any other kind, including, without
limitation, notice of nonpayment or other nonperformance (including notice of default under the Notes or the Indenture with respect to any Guaranteed Obligations), protest, dishonor, acceptance hereof, extension of additional credit to the Company
and of any of the matters referred to in Section 2 hereof and of any rights to consent thereto; 
 b. any right to
require the Guaranteed Parties or any of them, as a condition of payment or performance by the Guarantor hereunder, to proceed against, or to exhaust or have resort to any collateral or other security from or any deposit balance or other credit in
favor of, the Company, any other Guarantor or any other Person directly or indirectly liable for any Guaranteed Obligations, or to pursue any other remedy or enforce any other right; and any other defense based on an election of remedies with
respect to any collateral or other security for any Guaranteed Obligations or for any guarantee or other liability in respect thereof, notwithstanding that any such election (including any failure to pursue or enforce any rights or remedies) may
impair or extinguish any right of indemnification, contribution, reimbursement or subrogation or other right or remedy of the Guarantor against the Company, any other Guarantor or any other Person directly or indirectly liable for any Guaranteed
Obligations or any such collateral or other security; 
 c. any right or defense based on or arising by reason of any right
or defense of the Company or any other Person, including, without limitation, any defense based on 

  
 D-3 

 
or arising from a lack of authority or other disability of the Company or any other Person, the invalidity or unenforceability of any Guaranteed Obligations, any Notes or the Indenture or other
agreement or instrument delivered pursuant thereto, or the cessation of the liability of the Company for any reason other than the satisfaction of the Termination Requirement; 

d. any defense based on any Guaranteed Party’s acts or omissions in the administration of the Guaranteed Obligations, any
guarantee, security or other liability in respect thereof or any collateral or other security for any of the foregoing, and promptness, diligence, or any requirement that any Guaranteed Party create, protect, perfect, secure, insure, continue or
maintain any Liens in any such security; 
 e. any right to assert against any Guaranteed Party, as a defense, counterclaim,
crossclaim or set-off, any defense, counterclaim, claim, right of recoupment or set-off that it may at any time have against any Guaranteed Party in respect of the Guaranteed Obligations (including, without limitation, failure of consideration,
fraud, fraudulent inducement, statute of limitations, payment, accord and satisfaction and usury), other than compulsory counterclaims and other than the indefeasible payment in full in cash of the Guaranteed Obligations; and 

f. any defense based on or afforded by any applicable law that limits the liability of or exonerates guarantors or sureties or
that may in any other way conflict with the terms of this Guarantee. 
 4. No Subrogation. The Guarantor hereby agrees that, until
satisfaction of the Termination Requirement, it will not exercise any claim or right that it may have against the Company or any other Guarantor at any time as a result of any payment made by the Guarantor under or pursuant to this Guarantee or the
performance or enforcement hereof, including any right of subrogation to the rights of any of the Guaranteed Parties against the Company or any other Guarantor, any right of indemnity, contribution or reimbursement against the Company or any other
Guarantor, any right to enforce any remedies of any Guaranteed Party against the Company or any other Guarantor, or any benefit of, or any right to participate in, any security held by any Guaranteed Party to secure payment of the Guaranteed
Obligations, in each case whether such claims or rights arise by contract, statute (including without limitation any applicable Insolvency Laws), common law or otherwise. The Guarantor further agrees that if any amount shall be paid to or any
distribution received by the Guarantor on account of any such rights of subrogation, indemnity, contribution or reimbursement at any time prior to the satisfaction of the Termination Requirement, such amount or distribution shall be deemed to have
been received and to be held in trust for the benefit of the Guaranteed Parties, and shall forthwith be delivered to the Trustee in the form received (with any necessary endorsements in the case of written instruments), to be applied against the
Guaranteed Obligations, whether or not matured, in accordance with the terms of the Notes and the Indenture, as applicable, and without in any way discharging, limiting or otherwise affecting the liability of the Guarantor under any other provision
of this Guarantee. 

  
 D-4 

 5. Payments; Application; Set-Off. 

a. The Guarantor agrees that, upon the failure of the Company to pay any Guaranteed Obligations when and as the same shall
become due (whether at the Stated Maturity, by acceleration or otherwise), and without limitation of any other right or remedy that any Guaranteed Party may have at law, in equity or otherwise against the Guarantor, the Guarantor will, subject to
the provisions of Section 1(b), forthwith pay or cause to be paid to the Trustee, for the benefit of the Guaranteed Parties, an amount equal to the amount of the Guaranteed Obligations then due and owing as aforesaid. 

b. All payments made by the Guarantor hereunder will be made in Dollars to the Trustee, without set-off, counterclaim or other
defense, the Guarantor hereby agreeing to comply with and be bound by the provisions of the Indenture in respect of all payments made by it hereunder. 

6. No Waiver. The rights and remedies of the Guaranteed Parties expressly set forth in this Guarantee, the Notes and the Indenture are
cumulative and in addition to, and not exclusive of, all other rights and remedies available at law, in equity or otherwise. No failure or delay on the part of any Guaranteed Party in exercising any right, power or privilege shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege or be construed to be a waiver of any Default or
Event of Default. No course of dealing between the Guarantor and the Guaranteed Parties or any Affiliate thereof (or the partners, directors, officers, employees, agents, trustees and advisors of any of the foregoing) shall be effective to amend,
modify or discharge any provision of this Guarantee, the Notes or the Indenture or to constitute a waiver of any Default or Event of Default. No notice to or demand upon the Guarantor in any case shall entitle the Guarantor to any other or further
notice or demand in similar or other circumstances or constitute a waiver of the right of any Guaranteed Party to exercise any right or remedy or take any other or further action in any circumstances without notice or demand. 

7. Enforcement; Reinstatement. The obligations of the Guarantor hereunder are independent of the Guaranteed Obligations, and a separate
action or actions may be brought against the Guarantor whether or not action is brought against the Company or any other Guarantor and whether or not the Company or any other Guarantor is joined in any such action. The Guarantor agrees that to the
extent all or part of any payment of the Guaranteed Obligations is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid under any Insolvency Laws (the amount of any such payment, a
“Reclaimed Amount”), then, to the extent of such Reclaimed Amount, this Guarantee shall continue in full force and effect or be revived and reinstated, as the case may be, as to the Guaranteed Obligations intended to be satisfied as
if such payment had not been received; and the Guarantor acknowledges that the term “Guaranteed Obligations” includes all Reclaimed Amounts that may arise from time to time. 

8. Amendments, Waivers, etc. No amendment, modification, waiver, discharge or termination of, or consent to any departure by the
Guarantor from, any provision of this Guarantee, shall be effective unless in a supplemental indenture signed by the Trustee, without consent of the Holders pursuant to Section 901 of the Base Indenture or with the consent of Holders of not
less than a majority in principal amount of the Outstanding Securities of all series 

  
 D-5 

 
affected by such supplemental indenture pursuant to Section 902 of the Base Indenture (as supplemented by Section 7.1 of the First Supplemental Indenture), as the case may be, and then
the same shall be effective only in the specific instance and for the specific purpose for which given. 
 9. Release.
Notwithstanding anything else herein, the Guarantor shall be released from its obligations under this Guarantee and this Guarantee shall terminate, without any need for further action by the Trustee or any Holder, at any time, upon satisfaction of
any Termination Requirement under Section 2(i) hereof and, on and after the Escrow Release Date, if and when the Guarantor is no longer (or substantially simultaneously with such release will no longer be) an obligor (either borrower or
guarantor) under the Credit Agreement. 
 10. Continuing Guarantee; Term; Successors and Assigns. This Guarantee is a continuing
guarantee and covers all of the Guaranteed Obligations as the same may arise and be outstanding at any time and from time to time from and after the date hereof, and shall (i) remain in full force and effect until release pursuant to
Section 9 hereof and (ii) be binding upon and enforceable against the Guarantor and its successors and assigns. 
 11.
Governing Law. This Guarantee shall be governed by, and construed and enforced in accordance with, the laws of the State of New York (including Sections 5-1401 and 5-1402 of the New York General Obligations Law, but excluding all other choice
of law and conflicts of law rules). 
 12. Severability. To the extent any provision of this Guarantee is prohibited by or invalid
under the applicable law of any jurisdiction, such provision shall be ineffective only to the extent of such prohibition or invalidity and only in such jurisdiction, without prohibiting or invalidating such provision in any other jurisdiction or the
remaining provisions of this Guarantee in any jurisdiction. 
 13. Construction. The headings of the various sections and subsections
of this Guarantee have been inserted for convenience only and shall not in any way affect the meaning or construction of any of the provisions hereof. Unless the context otherwise requires, words in the singular include the plural and words in the
plural include the singular. 
 14. Counterparts; Effectiveness. This Guarantee may be executed in any number of counterparts. This
Guarantee shall become effective upon the execution and delivery by the Guarantor of a counterpart hereof. 
 [Remainder of page
intentionally left blank] 

  
 D-6 

 IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be executed under seal by
its duly authorized officers as of the date first above written. 
  

			
	BASEBALL MERGER SUB, LLC
	BY ITS SOLE MEMBER, INTERCONTINENTALEXCHANGE GROUP, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Guaranty Agreement
Signature PageEX-10.1

 Exhibit 10.1 

INDEMNITY AGREEMENT 
 This
Indemnity Agreement, dated             , 20    , is made between The Active Network, Inc., a Delaware corporation (the “Company”), and
                     (the “Indemnitee”). 

RECITALS 
 A. The Company
desires to attract and retain the services of talented and experienced individuals, such as Indemnitee, to serve as directors and officers of the Company and its subsidiaries and wishes to indemnify its directors and officers to the maximum extent
permitted by law; 
 B. The Company and Indemnitee recognize that corporate litigation in general has subjected directors and officers to
expensive litigation risks; 
 C. Section 145 of the General Corporation Law of Delaware, under which the Company is organized
(“Section 145”), empowers the Company to indemnify its directors and officers by agreement and to indemnify persons who serve, at the request of the Company, as the directors and officers of other corporations or enterprises,
and expressly provides that the indemnification provided by Section 145 is not exclusive; 
 D. Section 145(g) allows for the
purchase of management liability (“D&O”) insurance by the Company, which in theory can cover asserted liabilities without regard to whether they are indemnifiable or not; 

E. Individuals considering service or presently serving expect to be extended market terms of indemnification commensurate with their
position, and that entities such as Company will endeavor to maintain appropriate D&O insurance; and 
 F. In order to induce Indemnitee
to serve or continue to serve as a director or officer of the Company and/or one or more subsidiaries of the Company, the Company and Indemnitee enter into this Agreement. 

AGREEMENT 
 NOW,
THEREFORE, the Indemnitee and the Company hereby agree as follows: 
 1. Definitions. As used in this Agreement: 

(a) “Agent” means any person who is or was a director, officer, employee or other agent of the Company or a subsidiary of the
Company; or is or was serving at the request of, for the convenience of, or to represent the interests of the Company or a subsidiary of the Company as a director, officer, employee or agent of another foreign or domestic corporation, partnership,
joint venture, trust or other enterprise; or was a director, officer, employee or agent of a foreign or domestic corporation which was a predecessor corporation of the Company or a subsidiary of the Company, or was a director, officer, employee or
agent of another enterprise at the request of, for the convenience of, or to represent the interests of such predecessor corporation. 

  
 1 

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

(c) A “Change in Control” shall be deemed to have occurred if (i) any “person,” as such term is used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or
indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under
the Exchange Act), directly or indirectly, of securities of the Company representing a majority of the total voting power represented by the Company’s then outstanding voting securities, (ii) during any period of two consecutive years,
individuals who at the beginning of such period constituted the Board, together with any new directors whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the
directors then still in office who either were directors at the beginning of the period or whose election or nomination was previously so approved, cease for any reason to constitute a majority of the Board, (iii) the stockholders of the
Company approve a merger or consolidation or a sale of all or substantially all of the Company’s assets with or to another entity, other than a merger, consolidation or asset sale that would result in the holders of the Company’s
outstanding voting securities immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least a majority of the total voting power represented by the
voting securities of the Company or such surviving or successor entity outstanding immediately thereafter, or (iv) the stockholders of the Company approve a plan of complete liquidation of the Company. 

(d) “Expenses” shall include all
out-of-pocket costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements), actually and reasonably
incurred by the Indemnitee in connection with either the investigation, defense or appeal of a Proceeding or establishing or enforcing a right to indemnification under this Agreement, or Section 145 or otherwise; provided, however, that
“Expenses” shall not include any judgments, fines, ERISA excise taxes or penalties, or amounts paid in settlement of a Proceeding. 

(e) “Independent Counsel” means a law firm, or a partner (or, if applicable, member) of such a law firm, that is experienced
in relevant matters of corporation law and neither currently is, nor in the past five years has been, retained to represent: (i) the Company or the Indemnitee in any matter material to either such party or (ii) any other party to or
witness in the proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company or the Indemnitee in an action to determine the Indemnitee’s rights under this Agreement. 

  
 2 

 (f) “Proceeding” shall mean any threatened, pending, or completed action, claim,
suit, arbitration, alternate dispute resolution mechanism, investigation, administrative hearing or any other proceeding whether formal or informal, civil, criminal, administrative, or investigative, including any such investigation or proceeding
instituted by or on behalf of the Corporation or its Board of Directors, in which Indemnitee is or reasonably may be involved as a party or target, that is associated with Indemnitee’s being an Agent of the Corporation. 

(g) “Subsidiary” means any corporation of which more than 50% of the outstanding voting securities is owned directly or
indirectly by the Company, by the Company and one or more other subsidiaries, or by one or more other subsidiaries. 
 2. Agreement to
Serve. The Indemnitee agrees to serve and/or continue to serve as an Agent of the Company, at its will (or under separate agreement, if such agreement exists), in the capacity the Indemnitee currently serves as an Agent of the Company, so long
as the Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of the Bylaws of the Company or any subsidiary of the Company or until such time as the Indemnitee tenders his or her resignation in writing;
provided, however, that nothing contained in this Agreement is intended to create any right to continued employment by the Indemnitee. 
 3.
Liability Insurance. 
 (a) Maintenance of D&O Insurance. The Company hereby covenants and agrees that, so long as the
Indemnitee shall continue to serve as an Agent of the Company and thereafter so long as the Indemnitee shall be subject to any possible Proceeding by reason of the fact that the Indemnitee was an Agent of the Company, the Company, subject to
Section 3(c), shall promptly obtain and maintain in full force and effect directors’ and officers’ liability insurance (“D&O Insurance”) in reasonable amounts from established and reputable insurers, as more fully
described below. In the event of a Change in Control, the Company shall, as set forth in Section (c) below, either: i) maintain such D&O Insurance for six years; or ii) purchase a six year tail for such D&O Insurance. 

(b) Rights and Benefits. In all policies of D&O Insurance, the Indemnitee shall qualify as an insured in such a manner as to
provide the Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s independent directors (as defined by the insurer) if the Indemnitee is such an independent director; of the Company’s
non-independent directors if the Indemnitee is not an independent director; of the Company’s officers if the Indemnitee is an officer of the Company; or of the Company’s key employees, if the Indemnitee is not a director or officer but is
a key employee. 
 (c) Limitation on Required Maintenance of D&O Insurance. Notwithstanding the foregoing, the Company shall have
no obligation to obtain or maintain D&O Insurance at all, or of any type, terms, or amount, if the Company determines in good faith that: such insurance is not reasonably available; the premium costs for such insurance are disproportionate to
the amount of coverage provided; the coverage provided by such insurance is limited so as to provide an insufficient or unreasonable benefit; the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company; the Company is to
be acquired and a tail policy of 

  
 3 

 
reasonable terms and duration can be purchased for pre-closing acts or omissions by the Indemnitee; or the Company is to be acquired and D&O Insurance can be maintained by the acquirer that
covers pre-closing acts and omissions by the Indemnitee. 
 4. Mandatory Indemnification. Subject to the terms of this Agreement:

 (a) Third Party Actions. If the Indemnitee is a person who was or is a party or is threatened to be made a party to any Proceeding
(other than an action by or in the right of the Company) by reason of the fact that the Indemnitee is or was an Agent of the Company, or by reason of anything done or not done by the Indemnitee in any such capacity, the Company shall indemnify the
Indemnitee against all Expenses and liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes and penalties, and amounts paid in settlement) actually and reasonably incurred by the Indemnitee in
connection with the investigation, defense, settlement or appeal of such Proceeding, provided the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and,
with respect to any criminal action or Proceeding, had no reasonable cause to believe his or her conduct was unlawful. 
 (b) Derivative
Actions. If the Indemnitee is a person who was or is a party or is threatened to be made a party to any Proceeding by or in the right of the Company by reason of the fact that the Indemnitee is or was an Agent of the Company, or by reason of
anything done or not done by the Indemnitee in any such capacity, the Company shall indemnify the Indemnitee against all Expenses actually and reasonably incurred by the Indemnitee in connection with the investigation, defense, settlement or appeal
of such Proceeding, provided the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; except that no indemnification under this Section 4(b) shall be
made in respect to any claim, issue or matter as to which the Indemnitee shall have been finally adjudged to be liable to the Company by a court of competent jurisdiction unless and only to the extent that the Delaware Court of Chancery or the court
in which such Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the Indemnitee is fairly and reasonably entitled to indemnity for such amounts which
the Delaware Court of Chancery or such other court shall deem proper. 
 (c) Actions where Indemnitee is Deceased. If the Indemnitee
is a person who was or is a party or is threatened to be made a party to any Proceeding by reason of the fact that the Indemnitee is or was an Agent of the Company, or by reason of anything done or not done by the Indemnitee in any such capacity,
and if, prior to, during the pendency of or after completion of such Proceeding the Indemnitee is deceased, the Company shall indemnify the Indemnitee’s heirs, executors and administrators against all Expenses and liabilities of any type
whatsoever to the extent the Indemnitee would have been entitled to indemnification pursuant to this Agreement were the Indemnitee still alive. 

(d) Certain Terminations. The termination of any Proceeding or of any claim, issue, or matter therein by judgment, order, settlement,
or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself create a presumption that the Indemnitee did not act in good faith and in a manner which
the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal action or Proceeding, that the Indemnitee had reasonable cause to believe that the Indemnitee’s conduct was
unlawful. 

  
 4 

 (e) Limitations. Notwithstanding the foregoing, the Company shall not be obligated to
indemnify the Indemnitee for Expenses or liabilities of any type whatsoever for which payment is actually made to or on behalf of the Indemnitee under an insurance policy, or under a valid and enforceable indemnity clause, by-law or agreement. 
 (f) Witness. In the event that Indemnitee is not a party or threatened to
be made a party to a Proceeding, but is subpoenaed in such a Proceeding by reason of the fact that the Indemnitee is or was an Agent of the Company, or by reason of anything witnessed by the Indemnitee in that capacity, the Company shall indemnify
the Indemnitee against i) all out-of-pocket costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements),
actually and reasonably incurred by the Indemnitee in responding to such subpoena; and ii) if Indemnitee is a former Agent of the Company at that time and is employed elsewhere, reasonable reimbursement for Indemnitee’s time spent testifying
and meeting with Company counsel prior to such testimony solely to prepare for such testimony, at a rate based on Indemnitee’s compensation at such employment, but not to exceed $900 per hour. 

5. Indemnification for Expenses in a Proceeding in Which the Indemnitee is Wholly or Partly Successful. 

(a) Successful Defense. Notwithstanding any other provisions of this Agreement, to the extent the Indemnitee has been successful, on the
merits or otherwise, in defense of any Proceeding (including, without limitation, an action by or in the right of the Company) in which the Indemnitee was a party by reason of the fact that the Indemnitee is or was an Agent of the Company at any
time, the Company shall indemnify the Indemnitee against all Expenses actually and reasonably incurred by or on behalf of the Indemnitee in connection with the investigation, defense or appeal of such Proceeding. 

(b) Partially Successful Defense. Notwithstanding any other provisions of this Agreement, to the extent that the Indemnitee is a party
to any Proceeding (including, without limitation, an action by or in the right of the Company) in which the Indemnitee was a party by reason of the fact that the Indemnitee is or was an Agent of the Company at any time and is successful, on the
merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify the Indemnitee against all Expenses actually and reasonably incurred by or on behalf of the Indemnitee in connection
with each successfully resolved claim, issue or matter. 
 (c) Dismissal. For purposes of this section and without limitation, the
termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

(d) Contribution. If the indemnification provided in this Agreement is unavailable and may not be paid to Indemnitee for any reason
other than statutory limitations, then in respect of any threatened, pending or completed action, suit or proceeding in which the 

  
 5 

 
Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), the Company shall contribute to the amount of expenses (including attorneys’ fees),
judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in such proportion as is appropriate to reflect (i) the relative benefits received by the Company on the one hand and Indemnitee
on the other hand from the transaction from which such action, suit or proceeding arose, and (ii) the relative fault of Company on the one hand and of Indemnitee on the other in connection with the events which resulted in such expenses,
judgments, fines or settlement amounts, as well as any other relevant equitable considerations. The relative fault of the Company on the one hand and of Indemnitee on the other shall be determined by reference to, among other things, the
parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent the circumstances resulting in such expenses, judgments, fines or settlement amounts. The Company agrees that it would not be just and equitable
if contribution pursuant to this section were determined by pro rata allocation or any other method of allocation which does not take account of the foregoing equitable considerations. 

6. Mandatory Advancement of Expenses. Subject to the terms of this Agreement and following notice pursuant to Section 7(a) below,
the Company shall advance all Expenses reasonably incurred by the Indemnitee in connection with the investigation, defense, settlement or appeal of any Proceeding to which the Indemnitee is a party or is threatened to be made a party by reason of
the fact that the Indemnitee is or was an Agent of the Company (unless there has been a final determination that the Indemnitee is not entitled to indemnification for such Expenses) upon receipt satisfactory documentation supporting such Expenses.
By execution of this Agreement, Indemnitee agrees to repay the amount advanced only in the event and to the extent that it shall ultimately be determined that the Indemnitee is not entitled to indemnification by the Company to the extent set forth
in this agreement and under Delaware law. Such advances are intended to be an obligation of the Company to the Indemnitee hereunder and shall in no event be deemed to be a personal loan. Such advancement of Expenses shall otherwise be unsecured and
without regard to Indemnitee’s ability to repay. The advances to be made hereunder shall be paid by the Company to the Indemnitee within twenty (20) days following delivery of a written request therefore by the Indemnitee to the Company.
In the event that the Company fails to pay Expenses as incurred by the Indemnitee as required by this paragraph, Indemnitee may seek mandatory injunctive relief (including without limitation specific performance) from any court having jurisdiction
to require the Company to pay Expenses as set forth in this paragraph. If Indemnitee seeks mandatory injunctive relief pursuant to this paragraph, it shall not be a defense to enforcement of the Company’s obligations set forth in this paragraph
that Indemnitee has an adequate remedy at law for damages. 
 7. Notice and Other Indemnification Procedures. 

(a) Notice by Indemnitee. Promptly after receipt by the Indemnitee of notice of the commencement of or the threat of commencement of any
Proceeding, the Indemnitee shall, if the Indemnitee believes that indemnification with respect thereto may be sought from the Company under this Agreement, notify the Company in writing of the commencement or threat of commencement thereof. 

  
 6 

 (b) Insurance. If the Company receives notice pursuant to Section 7(a) hereof of the
commencement of a Proceeding that may be covered under D&O Insurance then in effect, the Company shall give prompt notice of the commencement of such Proceeding to the insurers in accordance with the procedures set forth in the respective
policies. 
 (c) Defense. In the event the Company shall be obligated to pay the Expenses of any Proceeding against the Indemnitee,
the Company shall be entitled to assume the defense of such Proceeding, with counsel selected by the Company and approved by the Indemnitee (which approval shall not be unreasonably withheld), upon the delivery to the Indemnitee of written notice of
the Company’s election so to do. After delivery of such notice, and the retention of such counsel by the Company, the Company will not be liable to the Indemnitee under this Agreement for any fees of counsel subsequently incurred by the
Indemnitee with respect to the same Proceeding, provided that (i) the Indemnitee shall have the right to employ his or her own counsel in any such Proceeding at the Indemnitee’s expense; and (ii) the Indemnitee shall have the right to
employ his or her own counsel in any such Proceeding at the Company’s expense if (A) the Company has authorized the employment of counsel by the Indemnitee at the expense of the Company, (B) the Indemnitee shall have reasonably
concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct of any such defense, or (C) the Company shall not, in fact, have employed counsel to assume the defense of such Proceeding. In addition to
all the requirements above, if the Company has D&O Insurance, or other insurance, with a panel counsel requirement that may cover the matter for which indemnity is claimed by Indemnitee, then Indemnitee shall use such panel counsel or other
counsel approved by the insurers, unless there is an actual conflict of interest posed by representation by all such counsel, or unless and to the extent Company waives such requirement in writing. The Indemnitee and its counsel shall provide
reasonable cooperation with such insurer on request of the Company. 
 8. Right to Indemnification. 

(a) Right to Indemnification. In the event that Section 5(a) is inapplicable, the Company shall indemnify the Indemnitee pursuant
to this Agreement unless, and except to the extent that, it shall have been determined by one of the methods listed in Section 8(b) that the Indemnitee has not met the applicable standard of conduct required to entitle the Indemnitee to such
indemnification. 
 (b) Determination of Right to Indemnification. A determination of the Indemnitee’s right to indemnification
under this Section 8 shall be made at the election of the Board by (i) a majority vote of directors who are not parties to the Proceeding for which indemnification is being sought, even though less than a quorum, or by a committee
consisting of directors who are not parties to the Proceeding for which indemnification is being sought, who, even though less than a quorum, have been designated by a majority vote of the disinterested directors, or (ii) if there are no such
disinterested directors or if the disinterested directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to the Indemnitee. However, in the event there has been a Change in Control, then the
determination shall, at Indemnitee’s sole option, be made by Independent Counsel as in (b)(ii), above, with Indemnitee choosing the Independent Counsel subject to Company’s consent, such consent not to be unreasonably withheld. 

  
 7 

 (c) Submission for Decision. As soon as practicable, and in no event later than thirty
(30) days after the Indemnitee’s written request for indemnification, the Board shall select the method for determining the Indemnitee’s right to indemnification. The Indemnitee shall cooperate with the person or persons or entity
making such determination with respect to the Indemnitee’s right to indemnification, including providing to such person, persons or entity, upon reasonable advance request, any documentation or information which is not privileged or otherwise
protected from disclosure and which is reasonably available to the Indemnitee and reasonably necessary to such determination. Any Independent Counsel or member of the Board shall act reasonably and in good faith in making a determination regarding
the Indemnitee’s entitlement to indemnification under this Agreement. 
 (d) Application to Court. If (i) a claim for
indemnification or advancement of Expenses is denied, in whole or in part, (ii) no disposition of such claim is made by the Company within ninety (90) days after the request therefore, (iii) the advancement of Expenses is not timely
made pursuant to Section 6 of this Agreement or (iv) payment of indemnification is not made pursuant to Section 5 of this Agreement, the Indemnitee shall have the right to apply to the Delaware Court of Chancery, the court in which
the Proceeding is or was pending, or any other court of competent jurisdiction, for the purpose of enforcing the Indemnitee’s right to indemnification (including the advancement of Expenses) pursuant to this Agreement. 

(e) Expenses Related to the Enforcement or Interpretation of this Agreement. The Company shall indemnify the Indemnitee against all
reasonable Expenses incurred by the Indemnitee in connection with any hearing or proceeding under this Section 8 involving the Indemnitee, and against all reasonable Expenses incurred by the Indemnitee in connection with any other proceeding
between the Company and the Indemnitee involving the interpretation or enforcement of the rights of the Indemnitee under this Agreement, if and to the extent the Indemnitee is successful. To the extent Indemnitee is awarded relief on any Expense,
that Expense shall be subject to 10% prejudgment interest from the date the invoice detailing that Expense was provided to the Company. 

(f) In no event shall Indemnitee’s right to indemnification (apart from advancement of Expenses) be determined prior to a final
adjudication in the Proceeding at issue if the Proceeding is both ongoing, and of the nature to have a final adjudication. 
 (g) In any
proceeding to determine Indemnitee’s right to indemnification or advancement, Indemnitee shall be presumed to be entitled to indemnification or advancement, with the burden of proof on the Company to prove, by a preponderance of the evidence
(or higher standard if required by relevant law) that Indemnitee is not so entitled. 
 (h) Indemnitee shall be fully indemnified for those
matters where, in the performance of his duties for the Company, he relied in good faith upon the records of the Company and upon such information, opinions, reports or statements presented to the Company by any of the Company’s officers or
employees, or committees of the board of directors, or by any other person as to matters Indemnitee reasonably believed were within such other person’s professional or expert competence and who was selected with reasonable care by or on behalf
of the Company. 

  
 8 

 (i) The knowledge or actions, or failure to act, or any director, officer, agent, or employee of
the Corporation, or the Corporation itself, shall not be imputed to Indemnitee for purposes of determining any rights hereunder. 
 9.
Exceptions. Any other provision herein to the contrary notwithstanding, the Company shall not be obligated: 
 (a) Claims
Initiated by Indemnitee. To indemnify or advance Expenses to the Indemnitee with respect to Proceedings or claims initiated or brought voluntarily by the Indemnitee and not by way of defense, with a reasonable allocation where appropriate,
unless (i) such indemnification is expressly required to be made by law, (ii) the Proceeding was authorized by the Board, (iii) such indemnification is provided by the Company, in its sole discretion, pursuant to the powers vested in
the Company under the General Corporation Law of Delaware or (iv) the Proceeding is brought to establish or enforce a right to indemnification under this Agreement or any other statute or law or otherwise as required under Section 145 in
advance of a final determination; 
 (b) Fees on Fees. To indemnify the Indemnitee for any Expenses incurred by the Indemnitee with
respect to any Proceeding instituted by the Indemnitee to enforce or interpret this Agreement, to the extent Indemnitee is not successful in such a Proceeding; 

(c) Unauthorized Settlements. To indemnify the Indemnitee under this Agreement for any amounts paid in settlement of a Proceeding
unless the Company consents to such settlement, which consent shall not be unreasonably withheld; 
 (d) Claims Under
Section 16(b). To indemnify the Indemnitee for Expenses and the payment of profits made from the purchase and sale (or sale and purchase) by the Indemnitee of securities of the Company within the meaning of Section 16(b) of the
Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common law; or 
 (e) Payments Contrary to
Law. To indemnify or advance Expenses to the Indemnitee for which payment is prohibited by applicable law. 
 10. Non-Exclusivity. The provisions for indemnification and advancement of Expenses set forth in this Agreement shall not be deemed exclusive of any other rights which the Indemnitee may have under any provision of
law, the Company’s Certificate of Incorporation or Bylaws, the vote of the Company’s stockholders or disinterested directors, other agreements, or otherwise, both as to action in the Indemnitee’s official capacity and as to action in
another capacity while occupying the Indemnitee’s position as an Agent of the Company. The Indemnitee’s rights hereunder shall continue after the Indemnitee has ceased acting as an Agent of the Company and shall inure to the benefit of the
heirs, executors and administrators of the Indemnitee. 
 11. Permitted Defenses. It shall be a defense to any action for which a
claim for indemnification is made under this Agreement (other than an action brought to enforce a claim for Expenses pursuant to Section 6 hereof, provided that the required undertaking has been tendered to the Company) that the Indemnitee is
not entitled to indemnification because of the 

  
 9 

 
limitations set forth in Sections 4 and 9 hereof. Neither the failure of the Company (including its Board of Directors) or an Independent Counsel to have made a determination prior to the
commencement of such enforcement action that indemnification of the Indemnitee is proper in the circumstances, nor an actual determination by the Company (including its Board of Directors) or an Independent Counsel that such indemnification is
improper, shall be a defense to the action or create a presumption that the Indemnitee is not entitled to indemnification under this Agreement or otherwise. 

12. Subrogation. In the event the Company is obligated to make a payment under this Agreement, the Company shall be subrogated to the
extent of such payment to all of the rights of recovery under any insurance policy or any other indemnity agreement covering the Indemnitee, who shall execute all documents reasonably required and take all action that may be necessary to secure such
rights and to enable the Company effectively to bring suit to enforce such rights (provided that the Company pays the Indemnitee’s costs and expenses of doing so), including without limitation by assigning all such rights to the Company or its
designee to the extent of such indemnification or advancement of Expenses. 
 13. Information Sharing. If the Indemnitee is the
subject of or is implicated in any investigation, whether formal or informal, by a government or regulatory entity or agency, the Company shall provide to Indemnitee any information provided to the investigating entity concerning the investigation;
provided, that by executing this Agreement, Indemnitee agrees to use such information solely in connection with the defense of such investigation and if Indemnitee is no longer serving as a Director or employed by the Corporation, Indemnitee shall
at the Corporation’s request execute a confidentiality agreement substantially in the form of the confidentiality agreement in effect while such Indemnitee was a Director or employed by the Corporation. 

14. Primacy of Indemnification. The Company hereby acknowledges that the Indemnitee may have certain rights to indemnification,
advancement of expenses or liability insurance provided by a third-party investor and certain of its affiliates (collectively, the “Fund Indemnitors”). The Company hereby agrees that (i) it is the indemnitor of first resort,
i.e., its obligations to the Indemnitee under this Agreement and any indemnity provisions set forth in its Certificate of Incorporation, Bylaws or elsewhere (collectively, “Indemnity Arrangements”) are primary, and any obligation of
the Fund Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by the Indemnitee is secondary and excess, (ii) it shall advance the full amount of expenses incurred by the Indemnitee and
shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of the Indemnitee, to the extent legally permitted and as required by any Indemnity Arrangement, without regard to any
rights the Indemnitee may have against the Fund Indemnitors, and (iii) it irrevocably waives, relinquishes and releases the Fund Indemnitors from any claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any
kind arising out of or relating to any Indemnity Arrangement. The Company further agrees that no advancement or indemnification payment by any Fund Indemnitor on behalf of the Indemnitee shall affect the foregoing, and the Fund Indemnitors shall be
subrogated to the extent of such advancement or payment to all of the rights of recovery of the Indemnitee against the Company. The Company and the Indemnitee agree that the Fund Indemnitors are express third party beneficiaries of the terms of this
Section 14. The Company, on its own behalf and on behalf of its insurers to the extent allowed by the policies, waives subrogation rights against Indemnitee. 

  
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 15. Survival of Rights. 

(a) All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an Agent of the Company and
shall continue thereafter so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed Proceeding by reason of the fact that Indemnitee was serving in the capacity referred to herein. 

(b) The Company shall require any successor to the Company (whether direct or indirect, by purchase, merger, consolidation or otherwise) to
all or substantially all of the business or assets of the Company, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

 16. Interpretation of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced so
as to provide indemnification to the Indemnitee to the fullest extent permitted by law, including those circumstances in which indemnification would otherwise be discretionary. 

17. Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason
whatsoever, (i) the validity, legality and enforceability of the remaining provisions of the Agreement (including, without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or
unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby, and (ii) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all
portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by
the provision held invalid, illegal or unenforceable and to give effect to Section 14 hereof. 
 18. Modification and Waiver. No
supplement, modification or amendment of this Agreement shall be binding unless it is in a writing signed by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other
provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
 19. Notice. All notices,
requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given (a) upon delivery if delivered by hand to the party to whom such notice or other communication shall have been
directed, (b) if mailed by certified or registered mail with postage prepaid, return receipt requested, on the third business day after the date on which it is so mailed, (c) one business day after the business day of deposit with a
nationally recognized overnight delivery service, specifying next day delivery, with written verification of receipt, or (d) on the same day as delivered by confirmed facsimile transmission if delivered during business hours or on the next
successive business day if delivered by confirmed facsimile transmission after business hours. Addresses for notice to either party shall be as shown on the signature page of this Agreement, or to such other address as may have been furnished by
either party in the manner set forth above. 

  
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 20. Governing Law. This Agreement shall be governed exclusively by and construed according
to the laws of the State of Delaware as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware. This Agreement is intended to be an agreement of the type contemplated by Section 145(f) of the
General Corporation Law of Delaware. 
 21. Counterparts. This Agreement may be executed in one or more counterparts, each of which
shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforcement is sought needs to be produced to evidence the existence
of this Agreement. 
 The parties hereto have entered into this Indemnity Agreement effective as of the date first above written. 

 

											
		 	Indemnitee:	 	The Company:
					
		 		 		 		 	THE ACTIVE NETWORK, INC.
					
		 	  
	 		 	By:	 	  

						
		 	Address:	 	  
	 		 	Name:	 	  

						
		 		 	  
	 		 	Title:	 	  

  
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