Document:

Merger Agreement

 Exhibit 10.1 
 Execution Copy 
 MERGER AGREEMENT 
 by and among 
 ZURN INDUSTRIES, LLC, 
 ZURN ACQUISITION SUB INC., 
 GA
INDUSTRIES, INC. 
 and 
 CERTAIN SHAREHOLDERS 
 Dated as of December 20, 2007 

 TABLE OF CONTENTS 
  

					
	 	  	 Page No.

	ARTICLE I DEFINITIONS	  	1
			
	1.01	  	Definitions	  	1
			
	1.02	  	Interpretation	  	6
		
	ARTICLE II THE MERGER; CONSIDERATION	  	7
			
	2.01	  	Merger	  	7
			
	2.02	  	Merger Consideration	  	7
			
	2.03	  	Closing	  	8
			
	2.04	  	Rights as Shareholders; Stock Transfers	  	8
			
	2.05	  	Exchange Procedures	  	8
			
	2.06	  	Post-Closing Adjustment.	  	8
			
	2.07	  	Dissenting Shares	  	10
			
	2.08	  	Articles of Incorporation; Bylaws	  	10
			
	2.09	  	Directors and Officers	  	11
		
	ARTICLE III FORBEARANCES	  	11
			
	3.01	  	Forbearances of Seller	  	11
			
	3.02	  	Forbearances of Buyer and Merger Sub	  	13
		
	ARTICLE IV REPRESENTATIONS AND WARRANTIES	  	13
			
	4.01	  	Representations and Warranties of Seller and Shareholders	  	13
			
	4.02	  	Representations and Warranties of Buyer	  	24
		
	ARTICLE V COVENANTS	  	26
			
	5.01	  	Reasonable Efforts	  	26
			
	5.02	  	Seller Shareholder Approvals	  	26
			
	5.03	  	Public Disclosure	  	26
			
	5.04	  	Access; Information	  	27
			
	5.05	  	Confidentiality	  	27
			
	5.06	  	Consents and Approvals	  	27
			
	5.07	  	Notice of Certain Matters	  	28
			
	5.08	  	Tax Matters	  	28
			
	5.09	  	Offer of Life Insurance Policies	  	30
			
	5.10	  	Product Liability Insurance.	  	30
			
	5.12	  	Exclusivity	  	30

  

 i 

					
	ARTICLE VI CONDITIONS PRECEDENT	  	30
			
	6.01	  	Conditions to Each Party’s Obligation to Effect the Merger	  	30
			
	6.02	  	Conditions Precedent to the Obligations of Buyer	  	31
			
	6.03	  	Conditions Precedent to the Obligations of Seller	  	32
		
	ARTICLE VII TERMINATION	  	33
			
	7.01	  	Termination of this Merger Agreement	  	33
			
	7.02	  	Consequences of Termination and Abandonment	  	34
		
	ARTICLE VIII SURVIVAL; INDEMNIFICATION	  	34
			
	8.01	  	Survival	  	34
			
	8.02	  	Indemnification by the Shareholders	  	34
			
	8.03	  	Indemnification by Buyer	  	35
			
	8.04	  	Dispute Resolution	  	36
			
	8.05	  	Notice of Claims	  	36
			
	8.06	  	Escrow	  	36
			
	8.07	  	Other Indemnification Provisions	  	37
			
	8.08	  	Selling Parties Representative	  	37
		
	ARTICLE IX MISCELLANEOUS	  	38
			
	9.01	  	Further Assurances	  	38
			
	9.02	  	Expenses	  	38
			
	9.03	  	Notices	  	38
			
	9.04	  	Binding Effect	  	39
			
	9.05	  	Counterparts	  	40
			
	9.06	  	Integration; No Third-Party Beneficiaries	  	40
			
	9.07	  	Severability	  	40
			
	9.08	  	Waiver; Amendment	  	40
			
	9.09	  	Governing Law	  	40
			
	9.10	  	Arbitration	  	40

  

 ii 

			
	 EXHIBITS
	 	
	 Exhibit A
	 	Reference Statement
	 Exhibit B
	 	Form of Noncompete Agreement
	 Exhibit C
	 	Form of Voting Agreement

  

			
	 SCHEDULES
	 	
	 Schedule 1.01
	 	List of Life Insurance Policies
	 Schedule 3.01
	 	Forbearance Exceptions
	 Schedule 4.01(b)
	 	List of Shareholders
	 Schedule 4.01(c)
	 	List of Subsidiaries
	 Schedule 4.01(f)
	 	Consents or Approvals
	 Schedule 4.01(g)
	 	Other Liabilities
	 Schedule 4.01(h)
	 	Absence of Certain Events
	 Schedule 4.01(i)
	 	Taxes
	 Schedule 4.01(j)
	 	Litigation
	 Schedule 4.01(k)
	 	Compliance with Laws
	 Schedule 4.01(l)
	 	Owned Real Property
	 Schedule 4.01(m)
	 	Environmental
	 Schedule 4.01(n)
	 	Leased Real and Personal Property
	 Schedule 4.01(o)
	 	Permitted Liens
	 Schedule 4.01(p)
	 	Material Contracts
	 Schedule 4.01(q)
	 	Insurance
	 Schedule 4.01(r)
	 	Employee Benefit Plans
	 Schedule 4.01(s)
	 	Labor Agreements
	 Schedule 4.01(t)
	 	Related Party Transactions
	 Schedule 4.01(u)
	 	Intellectual Property
	 Schedule 4.01(aa)
	 	Warranties
	 Schedule 5.11
	 	Non-Continuing Expenses
	 Schedule 6.02(e)
	 	List of Noncompete Agreements
	 Schedule 6.02(f)
	 	List of Voting Agreements

  

 iii 

 MERGER AGREEMENT 
 THIS MERGER AGREEMENT is made and entered into as of December 20, 2007 (the “Merger Agreement”), by and among Zurn Industries, LLC, a Delaware limited liability company (“Buyer”), Zurn
Acquisition Sub Inc., a Pennsylvania corporation and a wholly-owned subsidiary of Buyer (“Merger Sub”), GA Industries, Inc., a Pennsylvania corporation (“Seller”), and the Shareholders (as defined below) of Seller. 
 WITNESSETH: 
 WHEREAS, Seller and its
Subsidiaries (as defined below) are engaged in the design, development, manufacture and sale of valves and related products primarily used in the water and sewage industry (the “Business”); 
 WHEREAS, Buyer is interested in acquiring Seller; and 
 WHEREAS, the respective boards of directors of Buyer, Merger Sub and Seller (i) have approved the acquisition of Seller by Buyer through a merger of Merger Sub with and into Seller with Seller being the surviving
corporation (the “Merger”); and (ii) deem it advisable and in the best interests of their respective shareholders to consummate the Merger on the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises and the representations, warranties, covenants, conditions and actions hereinafter set forth, the
parties hereto, each intending to be legally bound hereby, agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 1.01 Definitions. The
terms defined in this Section 1.01 shall have the meanings set forth below. 
 “Affiliate” of a Party means a Person
that, directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, such Party. For the purpose of this definition, the term “control” means the power to direct the management or
policies of such Person, directly or indirectly, through the ownership of fifty-one percent (51%) or more of a class of voting securities, by contract or otherwise. 
 “Benefit Plan” means all “employee benefit plans” (as defined in Section 3(3) of ERISA), bonus, incentive, deferred compensation, stock or stock option plans or arrangements and other
employee fringe benefit plans or arrangements, under which any employee or former employee of Seller or any Subsidiaries has any present or future right to benefits or under which Seller or any Subsidiaries has any liability for present or future
payment of benefits. 
 “Business” has the meaning set forth in the Preamble. 
 “Buyer” has the meaning set forth in the Preamble. 

 “Buyer Indemnities” shall have the meaning set forth in Section 8.02(a).

 “Buyer Loss” shall have the meaning set forth in Section 8.02(a). 
 “Claiming Party” shall have the meaning set forth in Section 8.05. 
 “Closing” shall have the meaning set forth in Section 2.03. 
 “Closing Date” shall have the meaning set forth in Section 2.03. 
 “Closing Statement” shall have the meaning set forth in Section 2.06(a). 
 “Closing Working Capital” shall have the meaning set forth in Section 2.06(a). 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Contract” means, with respect to any Person, any contract, arrangement, agreement, indenture, undertaking, debt instrument, loan,
mortgage, letter of credit, instrument, lease, understanding or other commitment, to which such Person or any of its Subsidiaries is a party or by which any of them is bound or to which any of their properties is subject. 
 “Deductible” shall have the meaning set forth in Section 8.02(b). 
 “Dissenting Shares” means any shares of Seller Common Stock for which the shareholder has asserted dissenters rights under the
provisions of Section 1574 of the PaBCL and who has performed every act required up to the time involved for the assertion of those rights. 
 “Effective Time” means 12:01 a.m. on the date the Merger becomes effective. 
 “Environmental
Condition” shall have the meaning set forth in Section 4.01(m)(1). 
 “ERISA” means the Employee Retirement
Income Security Act of 1974, as amended. 
 “Escrow Agent” shall have the meaning set forth in Section 8.06.

 “Escrow Amount” shall have the meaning set forth in Section 2.02. 
 “Expiration Date” shall have the meaning set forth in Section 8.06. 
 “Financial Statements” shall have the meaning set forth in Section 4.01(g). 
 “Governmental Authority” means any court, commission, regulatory agency, administrative agency, self-regulatory organization or any
other federal, state or local governmental authority or instrumentality. 
 “Hart-Scott-Rodino Act” means the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. 
  

 2 

 “Hazardous Substances” shall have the meaning set forth in Section 4.01(m)(1).

 “Indemnification Cap” shall have the meaning set forth in Section 8.02(b). 
 “Independent Expert” shall have the meaning set forth in Section 2.06(e)(2). 
 “Initial Consideration” shall have the meaning set forth in Section 2.02(a). 
 “Intellectual Property” means (i) all registered patents, trademarks, trade names, service marks and copyrights and applications
for any of the foregoing and (ii) all material unregistered trademarks, trade names, service marks or computer software (other than those relating to generally commercially available “off the shelf” computer software owned by Seller
and/or used in the operation of the Business. 
 “Knowledge” shall mean (i) with respect to an individual, the actual
knowledge of the individual; and (ii) with respect to Seller or its Subsidiaries, the actual knowledge, after reasonable inquiry, of Grant A. Colton, Sr., Grant A. Colton, Jr., Michael L. Colton, or, with respect to the Subsidiaries, David F.
Waskiewicz. 
 “Leased Property” means the real and personal property listed in Schedule 4.01(n)(2). 
 “Lien” means any charge, mortgage, pledge, security interest, restriction, claim, lien, or encumbrance, provided, however, that the term
“Lien” shall not include: (i) statutory liens for taxes to the extent that the payment thereof is not in arrears or otherwise due; (ii) encumbrances in the nature of zoning restrictions, easements, rights or restrictions of
record on the uses of real property if the same do not detract from the value of the property encumbered thereby or impair the use of such property; (iii) statutory or common law liens to secure landlords, lessors or renters under leases or
rental agreements confined to the premises rented to the extent that no payment or performance under any such lease or rental agreement is in arrears or is otherwise due; (iv) deposits or pledges made in connection with, or to secure payment
of, worker’s compensation, unemployment insurance, old age pension programs mandated under applicable laws or other social security regulations; and (v) statutory or common law liens in favor of carriers, warehousemen, mechanics and
materialmen, statutory or common law liens to secure claims for labor, materials or supplies and other like liens, which secure obligations to the extent that payment thereof is not in arrears or otherwise due, and which have been incurred in the
ordinary course of business. 
 “Life Insurance Policies” means those certain life insurance policies set forth on Schedule
1.01. 
 “Litigation” shall have the meaning set forth in Section 4.01(j). 
 “Material Adverse Effect” means (i) with respect to Buyer or Seller, any effect that, individually or in the aggregate, is both
material and adverse to the financial condition, results of operations, assets or business of Buyer, or Seller and its Subsidiaries taken as a whole, respectively, or (ii) a material adverse effect on the ability of the Parties to consummate
the transactions contemplated by this Merger Agreement, other than any such event, change or effect caused by or resulting from (a) changes in general economic or political conditions or (b) competition or other changes in any of the
industries in which the Business operates. 
  

 3 

 “Material Contract” shall mean the following Contracts to which Seller or any of its
Subsidiaries is a party or otherwise bound or to which its assets may be affected: 
 (i) each Contract which involves the
performance of services or delivery of goods or materials by Seller or its Subsidiaries of an amount or value in excess of $250,000; 
 (ii) each Contract which involves the performance of services or delivery of goods or materials to Seller or its Subsidiaries of an amount or value in excess of $250,000; 
 (iii) each Contract not entered into in the ordinary course of business and that involves expenditures or receipts of Seller or its
Subsidiaries in excess of $100,000; 
 (iv) each lease, rental or occupancy agreement, license, installment and conditional
sale agreement, and other Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements
having a value per item or aggregate payments of less than $100,000); 
 (v) each Contract with respect to Intellectual
Property; 
 (vi) each collective bargaining agreement and other Contract to or with any labor union or other employee
representative of a group of employees; 
 (vii) each joint venture, partnership, and other Contract (however named) involving
a sharing of profits, losses, costs, or liabilities by Seller or its Subsidiaries with any other Person; 
 (viii) each
Contract containing covenants that in any way purport to restrict the business activity of Seller or its Subsidiaries to engage in any line of business or to compete with any Person; 
 (ix) each power of attorney of Seller or its Subsidiaries that is currently effective and outstanding; 
 (x) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Seller or its
Subsidiaries other than in the ordinary course of business; and 
 (xi) each amendment, supplement, and modification (whether
oral or written) in respect of any of the foregoing. 
 “Merger” has the meaning set forth in the Recitals. 
  

 4 

 “Merger Consideration” shall have the meaning set forth in Section 2.02(a).

 “Merger Sub” has the meaning set forth in the Preamble. 
 “Net Initial Consideration” shall have the meaning set forth in Section 2.02(b)(2). 
 “Notice of Objection” shall have the meaning set forth in Section 2.06(e)(1). 
 “Old Certificates” shall have the meaning set forth in Section 2.05. 
 “Option Period” shall have the meaning set forth in Section 5.09. 
 “Owned Real Property” shall have the meaning set forth in Section 4.01(l). 
 “PaBCL” means the Pennsylvania Business Corporation Law. 
 “Parties” means Buyer, Merger Sub, Seller and Shareholders. 
 “Pennsylvania Articles of Merger” means the Articles of Merger delivered to the Secretary of State of the Commonwealth of Pennsylvania
for filing pursuant to Section 1926 of the PaBCL. 
 “Permitted Liens” shall mean those Liens as specifically set forth
on Schedule 4.01(o). 
 “Person” means a corporation, an association, a partnership, a limited liability company, an
organization, a business, an individual, a government or a subdivision thereof or a governmental agency. 
 “Pre-Closing
Period” shall have the meaning set forth in Section 5.08. 
 “Purchased Inventory” shall have the meaning set
forth in Section 2.06(a)(4). 
 “Post-Closing Adjustment Amount” shall have the meaning set forth in
Section 2.06(b). 
 “Reference Statement” means the reference statement set forth as Exhibit “A”. 

“Regulatory Approvals” means all approvals and authorizations of, filings and registrations with, and notifications to, any
Governmental Authority required for the consummation of the Merger. 
 “Rights” means, with respect to any Person,
securities or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, or any options, calls or commitments relating to, shares of capital stock of such Person. 
 “Schedules” means the disclosure schedules attached hereto and made a part hereof. 
  

 5 

 “Seller” has the meaning set forth in the Preamble. 
 “Seller Common Stock” means the common stock, $10.00 par value per share, of Seller. 
 “Selling Parties Representative” shall have the meaning set forth in Section 8.08. 
 “Seller’s Transaction Expenses” shall have the meaning set forth in Section 2.02(b)(1). 
 “Service” means the United States Internal Revenue Service. 
 “Shareholders” means Grant A. Colton Sr., Grant A. Colton Jr. and Michael L. Colton. 
 “Shareholders’ Loss” shall have the meaning set forth in Section 8.03(a). 
 “Subsidiaries” means any corporation or other entity, the securities or other ownership interests having ordinary voting power to elect
a majority of the board of directors or other Persons performing similar functions of such corporation or other entity are at the time directly or indirectly owned or controlled by a Party. 
 “Surviving Corporation” means Seller after consummation of the Merger. 
 “Target Working Capital” shall have the meaning set forth in Section 2.06(b). 
 “Tax” (and, with correlative meaning, “Taxes”, “Taxable” and “Taxing”) means any federal, state, local or
foreign income, gross receipts, franchise, estimated, sales, use, transfer, registration, value added, excise, natural resources, severance, stamp, occupation, premium, windfall profits, customs, duties, real property, real property gains, personal
property, capital stock, social security, unemployment, disability, payroll, license, employee or other tax of any kind whatsoever, including any interest, penalties or additions to tax or additional amounts in respect of the foregoing. 

“Working Capital Excess” means the amount by which Closing Working Capital exceeds $21.8 million, as calculated pursuant to
Section 2.06 hereof. 
 “Tax Return” means any return, declaration, report, claim for refund or credit, information
return or other document (including any related or supporting schedules, statements or information filed or required to be filed in connection with the determination, assessment or collection of Taxes. 
 1.02 Interpretation. When a reference is made in this Merger Agreement to Sections, Exhibits or Schedules, such reference shall be to a Section
of, or Exhibit or Schedule to, this Merger Agreement unless otherwise indicated. The table of contents and headings contained in this Merger Agreement are for reference purposes only and are not part of this Merger Agreement. Whenever the words
“include,” “includes” or “including” are used in this Merger Agreement, they shall be deemed to be followed by the words “without limitation.” No rule of construction against the draftsperson shall be applied
in connection with the interpretation or enforcement of this Merger Agreement. 
  

 6 

 ARTICLE II 
 THE MERGER; CONSIDERATION 
 2.01 Merger. Upon satisfaction of the conditions set forth herein, at the
Effective Time, Merger Sub shall merge with and into Seller in accordance with the provisions and procedures set forth herein, with Seller being the Surviving Corporation. At the Effective Time, the separate existence of Merger Sub shall cease. The
Merger shall have the effects set forth in this Merger Agreement and in the applicable provisions of the PaBCL. 
 2.02 Merger
Consideration. Subject to Sections 2.02(b) and 2.06, the aggregate consideration payable pursuant to the Merger shall be Seventy Six Million and No/100 Dollars ($76,000,000.00) (the “Merger Consideration”), of which Five Million and
No/100 Dollars ($5,000,000.00) shall be deposited into escrow on the Closing Date pursuant to Section 8.06 of this Agreement (the “Escrow Amount”). Subject to the terms and conditions of this Merger Agreement, at the Effective Time:

 (a) Each share of Seller Common Stock issued and outstanding immediately prior to the Effective Time (other than treasury
shares and the Dissenting Shares, if any) shall become and be converted into the right to receive the Merger Consideration as follows: (i) at the Closing and subject to Section 2.02(b)(1), Five Hundred Eighty Two and 9324/10,000
Dollars ($582.9324) (the “Initial Consideration”); and (ii) at the time and subject to the terms and conditions set forth in Section 8.06 hereto, a pro rata share of the Escrow Amount (based upon the total number of shares
entitled to receive Merger Consideration pursuant to Section 2.02(a)); provided, that each share of Seller Common Stock held as treasury stock immediately prior to the Effective Time shall be canceled and retired at the Effective Time
and no consideration shall be issued in exchange thereof. 
 (b) The payment of the aggregate Initial Consideration by Buyer
shall be made as follows: 
 (1) to the extent not paid by the Seller prior to the Closing, the amount of all obligations of
Seller in connection with the negotiation and delivery of this Merger Agreement and the consummation of the transactions contemplated herein, together with a reasonable estimate of such expenses through the Closing Date and post-Closing periods,
shall be paid to the provider of such services (the “Seller’s Transaction Expenses”); and 
 (2) the balance of
the aggregate Initial Consideration (on a per share basis, the “Net Initial Consideration”) shall be paid in cash to the holders of the shares of Seller Common Stock entitled to the Merger Consideration pursuant to Section 2.02(a),
subject to the terms and conditions of Section 2.05. 
 (c) Each share of common stock of Merger Sub issued and
outstanding immediately prior to the Effective Time shall be unchanged and shall remain issued and outstanding as one share of common stock of the Surviving Corporation. 
  

 7 

 2.03 Closing. The closing hereunder (“Closing”) shall take place at the offices of
Sherrard, German & Kelly, P.C. located in Pittsburgh, Pennsylvania, or such other place agreed upon by Buyer and Seller, on the closing date (the “Closing Date”) selected by Buyer and Seller which shall be the latest of:

 (a) January 31, 2008; 
 (b) The fifth business day following receipt of the last Regulatory Approval and the expiration of any required waiting period, if all other conditions set forth in Article VI have been satisfied or waived; or

 (c) Such other date as shall be mutually agreed to in writing by Buyer and Seller on which all other conditions set forth
in Article VI shall have been satisfied or waived. 
 2.04 Rights as Shareholders; Stock Transfers. At the Effective Time,
holders of Seller Common Stock shall cease to be, and shall have no rights as, shareholders of Seller, other than the right to receive (a) any dividend or other distribution permitted to be paid under Section 3.01(c) with respect to such
Seller Common Stock with a record date occurring prior to the Effective Time and (b) the Merger Consideration. After the Effective Time, there shall be no transfers on the stock transfer books of Seller or the Surviving Corporation of shares of
Seller Common Stock. 
 2.05 Exchange Procedures. After the Effective Time, each holder of an outstanding certificate or certificates
theretofore representing outstanding shares of Seller Common Stock (the “Old Certificates”) shall surrender such certificate or certificates to Buyer, duly endorsed in blank or otherwise in proper form for transfer, together with a
properly completed and duly executed transmittal letter in a form mutually agreed to by Buyer and Seller (collectively with the Old Certificate, the “Stock Transfer Documents”) and shall receive in exchange therefor the Net Initial
Consideration for each share of Seller Common Stock. Until so surrendered and exchanged, each Old Certificate shall be deemed to represent only the right to receive for each share of Seller Common Stock the Merger Consideration without interest
thereon, upon delivery of the Stock Transfer Documents. 
 2.06 Post-Closing Adjustment. 
 (a) The Statement. No later than twenty (20) days after the Closing Date, Buyer shall prepare and deliver to the Selling
Parties Representative a statement (the “Closing Statement”), setting forth the “Closing Working Capital” of Seller and its Subsidiaries. For purposes of this Agreement, “Closing Working Capital” shall mean (i) the
total current assets of Seller and its Subsidiaries and the cash surrender value of the Life Insurance Policies as of the Closing Date; minus (ii) the total current liabilities of Seller and its Subsidiaries and the long-term debt for borrowed
money or capital lease obligations of Seller and its Subsidiaries as of the Closing Date; each calculated in the same way, using the same accounting principles, practices, methodologies and policies, as the line items comprising total current assets
and total current liabilities, respectively, on the Reference Statement attached hereto as Exhibit “A”, except as follows: 
 (1)
The fair market value of the marketable securities as of the Closing Date shall be calculated using the average of the market value of the securities on the Closing Date and the twenty-nine (29) days preceding the Closing Date; 
  

 8 

 (2) The cash of Seller shall be increased by the amount, if any, paid by Seller or its Subsidiaries from
October 1, 2007 to the Closing Date towards the purchase of any capital expenditures approved in advance by Buyer, not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00); 
 (3) The cash of Seller shall be increased by the amount, if any, paid by Seller for any in-transit inventory not received by Seller on the Closing Date,
not to exceed Two Hundred Thousand Dollars ($200,000.00); 
 (4) The inventory of Seller on the Closing Date shall be Two Million Five
Hundred Ninety Thousand Eight Hundred Five and No/100 Dollars ($2,590,805.00). The inventory of any Subsidiaries shall be determined as of the Closing Date; 
 (5) The Closing Working Capital shall not include deferred income taxes or intercompany receivables of Seller and its Subsidiaries; and 
 (6) The Closing Working Capital shall be adjusted to the extent necessary so as to exclude any reserves, expenses and adjustments, if any, resulting from any post closing transition, restructuring, shutdown or
relocation costs to be incurred by the Business solely due to management decisions of Buyer or Surviving Corporation; and any purchase accounting adjustments to the accounting books and records for financial reporting purposes which may be recorded
by Seller and its Subsidiaries as a result of the transactions contemplated by this Merger Agreement. 
 After the Closing Date, at Buyer’s request, the
Selling Parties Representative shall assist Buyer and its representatives in the preparation of the Closing Statement and shall provide Buyer and its representatives any information reasonably requested. 
 (b) Adjustment. If the Closing Working Capital does not exceed Twenty One Million Eight Hundred Thousand and No/100 Dollars
($21,800,000.00) (the “Target Working Capital”), then the aggregate Merger Consideration shall be decreased by the difference between the Closing Working Capital and the Target Working Capital (the “Post-Closing Adjustment
Amount”); provided, however, that if the Closing Working Capital is less than Twenty One Million Five Hundred Fifty Thousand and No/100 Dollars ($21,550,000.00) the Post-Closing Adjustment Amount shall be deemed to be Two Hundred Fifty Thousand
and No/100 Dollars ($250,000.00). 
 (c) Payment. Within 10 days after the Closing Working Capital has been finally
determined in accordance with this Section 2.06, Buyer shall be paid from the Escrow Amount an amount equal to the Post-Closing Adjustment Amount. Any such payment hereunder shall be made by wire transfer of immediately available funds to an
account or accounts designated in writing by Buyer. 
  

 9 

 (d) Objection; Dispute Resolution. 
 (1) Unless the Selling Parties Representative notifies Buyer in writing within ten (10) days after Buyer’s delivery of the Closing Statement of
any objection to any component of the computation of the Closing Working Capital set forth therein (the “Notice of Objection”), such computation shall be final and binding. During such 10-day period, the Selling Parties Representative
shall be permitted to review during normal business hours as he shall reasonably request the books, records and working papers of Buyer and Surviving Corporation relating to the Closing Statement. Any Notice of Objection shall specify in reasonable
detail the basis for the objections set forth therein. 
 (2) If the Selling Parties Representative provides the Notice of Objection to
Buyer within such 10-day period, Buyer and the Selling Parties Representative shall, during the 30-day period following Buyer’s receipt of the Notice of Objection, attempt in good faith to resolve the shareholders’ objections. During the
30-day period following Buyer’s receipt of the Notice of Objection, Buyer and its representatives shall be permitted to review during normal business hours as they shall reasonably request the working papers of the Selling Parties
Representative relating to the Notice of Objection and the basis therefore. If Buyer and the Selling Parties Representative are unable to resolve all such objections within such 30-day period, the matters remaining in dispute shall be submitted to a
third party mutually agreeable to the Buyer and Seller (the “Independent Expert”) to resolve the disputed matters. Buyer and the Selling Parties Representative shall instruct the Independent Expert to render its reasoned written decision
as promptly as practicable but in no event later than 60 days after its selection. The resolution of disputed items by the Independent Expert shall be final and binding, and the determination of the Independent Expert shall constitute an arbitral
award that is final, binding and non-appealable and upon which a judgment may be entered by a court having jurisdiction thereover. The fees and expenses of the Independent Expert shall be borne 50% by Buyer and 50% by the shareholders with the
Shareholders’ portion being paid out of the Escrow Fund. 
 2.07 Dissenting Shares. Notwithstanding anything in this Merger
Agreement to the contrary, shares of Seller Common Stock which are issued and outstanding immediately prior to the Effective Time and which are Dissenting Shares shall not be converted into or be exchangeable for the right to receive the Merger
Consideration unless and until the holder thereof shall fail to perfect his or her right to dissent or shall have effectively withdrawn or lost such right under the PaBCL, as the case may be. If such holder shall have failed to perfect his right to
dissent or shall have effectively withdrawn or lost such right, each of his or her shares of Seller Common Stock shall thereupon be deemed to have been converted into, at the Effective Time, the right to receive the Merger Consideration in
accordance with the terms and conditions of this Article II. Shares of Seller Common Stock with respect to which a holder has made a proper demand in accordance with Section 1574 of the PaBCL shall not be converted into any portion of the
Merger Consideration provided for in Section 2.02 of this Merger Agreement, but rather shall be converted into a right to receive the fair cash value of such shares under Section 1577 of the PaBCL. 
 2.08 Articles of Incorporation; Bylaws. At the Effective Time, the articles of incorporation and bylaws of Merger Sub as in effect immediately
prior to the Effective Time shall be the articles of incorporation and bylaws of the Surviving Corporation, except that Article I of the articles of incorporation will be amended to read “The name of the corporation is GA Industries, Inc.”

  

 10 

 2.09 Directors and Officers. The directors and principal officers of Merger Sub immediately prior
to the Effective Time shall be the directors and principal officers of the Surviving Corporation from and after the Effective Time. The board of directors of the Surviving Corporation may, from time to time, appoint such other officers as permitted
by the bylaws of the Surviving Corporation. 
 ARTICLE III 
 FORBEARANCES 
 3.01 Forbearances of Seller. From the date hereof until the earlier of the termination
of this Merger Agreement or the Effective Time, except as expressly contemplated by this Merger Agreement or the Schedules and except as set forth on Schedule 3.01, without the prior written consent of Buyer, Seller and its Subsidiaries will not:

 (a) Ordinary Course. Except as otherwise required by any Governmental Authority, conduct the business of Seller and
its Subsidiaries other than in the ordinary and usual course consistent with past practices. 
 (b) Capital Stock.
(1) Issue, sell or otherwise permit to become outstanding, or authorize the creation of, any additional shares of Seller Common Stock or any Rights with respect to Seller Common Stock, (2) permit any additional shares of Seller Common
Stock to become subject to new grants of employee or director stock options, other Rights or similar stock-based employee rights, or (3) effect any recapitalization, reclassification, stock split or like change in capitalization. 
 (c) Dividends, Etc. Make, declare, pay or set aside for payment any dividend, other than dividends from wholly owned Subsidiaries
to Seller, or declare or make any distribution on any shares of its capital stock or split, combine, redeem or reclassify any shares of its capital stock. 
 (d) Compensation; Employment Contracts; Etc. Enter into, amend, modify, renew or terminate any material employment, consulting or severance Contract with any director, officer or employee of Seller or its
Subsidiaries, to grant any salary, wage or other increase or increase any employee benefit (including incentive or bonus payments) or take any action that would entitle any employee to receive severance pay prior to the Effective Time, except
(1) for normal general increases in salary or bonuses to individual employees in the ordinary course of business consistent with past practice, (2) for other changes that are required by applicable law or by any Governmental Authority, or
(3) to satisfy Contracts existing on the date hereof and which are identified on Schedule 3.01. 
 (e) Benefit
Plans. Enter into, modify or terminate any material Benefit Plan, including taking any action that accelerates the vesting or exercisability of or the payment or distribution with respect to compensation or benefits payable thereunder, except,
in each such case, (1) as may be required by applicable law or by any Governmental Authority or (2) to satisfy Contracts listed on Schedule 3.01(e) existing on the date hereof. 
 (f) Dispositions. Sell, transfer, mortgage, lease, encumber or otherwise dispose of or discontinue any material portion of its
assets or business except in the ordinary course of business or as may be required by applicable law or by any Governmental Authority. 
  

 11 

 (g) Acquisitions. Except (1) pursuant to Contracts existing on the date
hereof, (2) for short-term investments for cash management purposes, or (3) otherwise in satisfaction of debts previously contracted in good faith, neither Seller nor any of its Subsidiaries will acquire a material portion of the assets or
properties of another Person in any one transaction or a series of related transactions. 
 (h) Governing Documents.
Amend Seller’s articles of incorporation or bylaws or the articles of incorporation or bylaws of any of Seller’s Subsidiaries. 
 (i) Adverse Actions. Knowingly take any action that is intended or is reasonably likely to result in (A) any of the conditions to the Merger set forth in Article VI not being satisfied or (B) a
material breach of any provision of this Merger Agreement; except, in each case, as may be required by applicable law or by any Governmental Authority. 
 (j) Capital Expenditures/Contracts. Make any capital expenditures in excess of $250,000 in the aggregate or enter into any multi-year Contracts in excess of $500,000 or which contain liquidated damage or
penalty provisions. 
 (k) Indebtedness. Other than in the ordinary course of business consistent with past practice,
(1) incur any indebtedness for borrowed money except under existing credit facilities, (2) assume, guarantee, endorse or otherwise as an accommodation become responsible for the obligations of any other Person or (3) cancel, release,
assign or modify any material amount of indebtedness of any other Person. 
 (l) Accounting Methods. Implement or adopt
any change in the accounting principles, practices or methods used by Seller and its Subsidiaries. 
 (m) Commitments.
Agree or commit to do, or enter into any Contract regarding, anything that would be precluded by clauses (a) through (i) without first obtaining Buyer’s consent. 
 (n) Working Capital. Notwithstanding any other provision herein, neither Seller nor its Subsidiaries shall make any expenditure, or
commit to make any expenditure, between the date of this Agreement and the Closing which would reduce Closing Working Capital without the prior written consent of Buyer unless such action is (i) in the ordinary course of business for Seller or
any of the Subsidiaries, as the case may be, and (ii) involves an expenditure, whether alone or in the aggregate with all other expenditures, of less than $100,000. 
 (o) Reports. From the date of this Agreement through the Closing, Seller shall promptly provide Buyer such information as Buyer
shall request on a weekly basis with respect to the prior week’s business, operations, cash flows, changes in values and nature of assets and liabilities and related information. Seller expressly acknowledges that this provision is for the
purpose of permitting Buyer to evaluate the information necessary to 

  

 12 

 
make any determinations applicable to its rights pursuant to Section 7.01(e) hereof, and shall not create any additional obligations or liabilities on
the part of Buyer to Seller or its Subsidiaries. 
 3.02 Forbearances of Buyer and Merger Sub. From the date hereof until the earlier
of the termination of this Merger Agreement or the Effective Time, except as expressly contemplated by this Merger Agreement or the Schedules, without the prior written consent of Seller, each of Buyer and Merger Sub will not knowingly take any
action that is intended or is reasonably likely to result in (A) any of the conditions to the Merger set forth in Article VI not being satisfied or (B) a material breach of any provision of this Merger Agreement; except, in each case, as
may be required by applicable law or by any Governmental Authority. 
 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES 
 4.01 Representations and Warranties of Seller and
Shareholders. Each of Seller (prior to the Effective Time) and the Shareholders severally and not jointly, represents and warrants to Buyer and Merger Sub as follows: 
 (a) Organization. Seller is a corporation duly organized and validly subsisting under the laws of the Commonwealth of Pennsylvania,
and is duly qualified to do business and is in good standing in all the jurisdictions where its ownership or leasing of property or assets or the conduct of its business requires it to be so qualified, except for such jurisdictions where the failure
to be so qualified or in good standing would not reasonably be expected to have Material Adverse Effect on the business of Seller. 
 (b) Capitalization. As of the date hereof, the authorized capital stock of Seller consists solely of 500,000 shares of common stock having $10.00 par value per share, of which 121,798 shares are issued and outstanding and 35,802
shares are held in the treasury of Seller. Schedule 4.01(b) sets forth a true and correct list of current issued and outstanding shares of Seller Common Stock as of the date of this Agreement, including the name of the holder of Seller Common Stock
and the number of shares held by such Person. All issued and outstanding shares of Seller Common Stock have been duly authorized and are validly issued, fully paid and nonassessable, and were not issued in violation of any preemptive rights. There
are no shares of Seller Common Stock authorized and reserved for issuance and the Seller does not have any Rights issued or outstanding with respect to any of its capital stock, and Seller does not have any commitment to authorize, issue or sell any
of its capital stock or Rights, except pursuant to this Merger Agreement. 
 (c) Subsidiaries. (1) (A) Seller
has disclosed on Schedule 4.01(c) a list of all its Subsidiaries together with the jurisdiction of organization of each such Subsidiaries, (B) Seller owns, directly or indirectly, all the issued and outstanding equity securities of each of its
Subsidiaries, (C) no equity securities of any of its Subsidiaries are or may become required to be issued by reason of any Rights, and (D) all the equity securities of each such Subsidiaries held by Seller or its Subsidiaries are fully
paid and nonassessable and are owned by Seller or its Subsidiaries free and clear of any Liens except Permitted Liens. 
  

 13 

 (2) Seller has disclosed on Schedule 4.01(c) a list of all equity securities or similar interests of any
Person, or any interest in a partnership or joint venture of any kind owned beneficially, directly or indirectly by it, except marketable securities. 
 (3) Each of Seller’s Subsidiaries has been duly organized and is validly existing and in good standing under the laws of the jurisdiction of its organization, and is duly qualified to do business and in good
standing in all the jurisdictions where its ownership or leasing of property or assets or the conduct of its business requires it to be so qualified except for such jurisdictions where the failure to be so qualified or in good standing would not
reasonably be expected to have a Material Adverse Effect on the business of such Subsidiaries. 
 (4) Schedule 4.01(c) contains a list of
the names of each entity or D/B/A under which the Seller, either directly or indirectly, has conducted any of the Business since 1995. 
 (d) Corporate Power. Each of Seller and its Subsidiaries has the requisite power and authority to carry on its business as it is now being conducted and to own all its properties and assets. 
 (e) Authority for Transactions. 
 (1) Seller has the requisite corporate power and authority, and has taken all corporate action necessary, in order (A) to authorize the execution and delivery of, and performance of its obligations under, this
Merger Agreement and (B) subject only to receipt of the approval of this Merger Agreement by the requisite holders of the outstanding shares of Seller Common Stock, to consummate the Merger. This Merger Agreement is a valid and legally binding
obligation of Seller, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency and other laws affecting the enforceability of creditors’ rights generally and the discretion of courts in granting or denying
equitable remedies. 
 (2) Each Shareholder has the requisite power and authority to execute, deliver and perform his, her or its obligations
under this Merger Agreement. This Merger Agreement is a valid and legally binding obligation of each Shareholder, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency and other laws affecting the enforceability of
creditors’ rights generally and the discretion of courts in granting or denying equitable remedies. 
 (f) Consents or
Approvals; No Defaults. Except as set forth in Schedule 4.01(f): 
 (1) No consents or approvals of, or filings or registrations
with, any Governmental Authority or with any third party are required to be made or obtained by Seller or any of its Subsidiaries in connection with the execution, delivery or performance by Seller of this Merger Agreement, or to consummate the
Merger and the other transactions contemplated hereby, except for (A) the filing of applications and notices pursuant to the Hart-Scott-Rodino Act with respect to the Merger and the expiration or termination of the waiting period related
thereto and (B) the filing of the Pennsylvania Articles of Merger. 
  

 14 

 (2) Subject to receipt of the Regulatory Approvals, and expiration or termination of the waiting period,
referred to in the preceding paragraph, the execution, delivery and performance of this Merger Agreement and the consummation of the transactions contemplated hereby do not and will not (A) to our Knowledge, constitute a material breach or
violation of, or a material default under, or give rise to any Lien, any acceleration of remedies or any right of termination under, any material law, regulation, permit, license or order, or any Material Contract, to which Seller or any of its
Subsidiaries or properties is subject or bound; or (B) constitute a breach or violation of, or a default under, the Seller’s articles of incorporation or bylaws; or (C) cause any change in control payment to be due and payable.

 (g) Financial Statements. (1) Copies of reviewed financial statements for Seller and its Subsidiaries for the fiscal
years ended May 31, 2005, 2006 and 2007, and non-reviewed financial statements for and as of the periods ended September 30, 2007, have been previously provided to Buyer (collectively, the “Financial Statements”). Each of the
balance sheets contained in the Financial Statements (including the related notes and schedules thereto) fairly presents in all material respects the financial position of Seller and its Subsidiaries as of its date, and each of the statements of
operations and changes in stockholders’ investment and cash flows or equivalent statements in the Financial Statements (including any related notes and schedules thereto) fairly presents in all material respects the results of operations,
changes in stockholders’ investment and changes in cash flows, as the case may be, of Seller and its Subsidiaries for the periods to which they relate, consistently applied during the periods involved, except in each case as may be noted
therein. The Financial Statement have not been prepared in accordance with “generally accepted accounting principles.” 
 (2)
Except as set forth on the Financial Statements, there is no outstanding indebtedness of Seller and its Subsidiaries for borrowed money and capital lease obligations, including, without limitation, the aggregate principal amount of borrowing under
any credit arrangements or lines of credit or contingent liabilities relating to borrowed money and capital lease obligations. As of the date hereof, there is not, and as of the Closing Date there will not be, any new indebtedness of Seller or its
Subsidiaries for borrowed money or capital lease obligations except as incurred with the written consent of Buyer except advances under existing lines of credit or contingent liabilities. Neither Seller nor any of its Subsidiaries guaranties any
material indebtedness of any Person other than of Seller or any of its Subsidiaries. 
 (3) Except as set forth on Schedule 4.01(g), Seller
and its Subsidiaries have no actual liabilities in excess of $100,000 other than liabilities (i) to the extent set forth in the September 30, 2007 Financial Statements; or (ii) incurred in the ordinary course of business since
September 30, 2007. 
 (h) Absence of Certain Events. Except as set forth in Schedule 4.01(h) or other Schedules attached hereto,
from May 31, 2007 through the date of this Agreement, Seller and its Subsidiaries have conducted the Business in the ordinary and usual course consistent with past practice and there has not been in any material respect: 
 (1) Any event, development or state of circumstance or fact that, individually or taken together with all other facts, events and circumstances
(described in any paragraph of Section 4.01 or otherwise), has had or is reasonably likely to have a Material Adverse Effect with respect to Seller or relating to the Business. 
  

 15 

 (2) Any change in the articles of incorporation or bylaws of Seller or any of its Subsidiaries or any
declaration or payment of distributions with respect to the Seller Common Stock or the capital stock of any of its Subsidiaries or redemption or repurchase of any such shares. 
 (3) Any change in accounting policies or practices by Seller or any of its Subsidiaries. 
 (4) Any capital expenditures in excess of $250,000 in the aggregate. 
 (5) Any creation or incurrence of any Lien on any of the assets of Seller or any of its Subsidiaries except Permitted Liens. 
 (6) Any payment or increase by Seller or any of its Subsidiaries of any bonuses, salaries or other compensation to any shareholder, director, officer or, except in the ordinary course of business, employee, or the
entry into any employment, severance, or similar agreement or arrangement with any director, officer or employee, except, in each such case, (a) as may be required by applicable law or by any Governmental Authority, (b) to satisfy
Contracts existing on the date hereof, or (c) in the ordinary course of business. 
 (7) Any sale (other than sales of inventory and
obsolete or equipment or machinery sold in the ordinary course of business), lease, or other disposition of any asset or property of Seller or any of its Subsidiaries, or damages to or destruction thereof, for which the aggregate proceeds thereof,
or payments or repair or replacement cost therefore, exceeds $100,000. 
 (8) Any incurrence by Seller or any of its Subsidiaries of any
indebtedness for borrowed money in excess of $100,000, in the aggregate, but not including any draws on existing lines of credit, or any assumption, guarantee, endorsement, or the cancellation or waiver of the right to receive by Seller or any of
its Subsidiaries of any obligations of any other Person in excess of $100,000, other than trade debt and drawings under the existing lines of credit consistent with past practice. 
 (9) Any transactions or arrangements entered into, including modifications to existing transactions and arrangements, with employees, officers,
directors, shareholders, members or Affiliates of Seller or its Subsidiaries (other than those directly related to services as an officer, director or employee) not in the ordinary course of business. 
 (10) Any commitment or agreement to do any of the foregoing. 
 (i) Taxes. Except as set forth on Schedule 4.01(i): 
 (1) Each of Seller and its Subsidiaries have
timely filed in all material respects all Tax Returns that they were required to file under applicable laws and regulations. All such Tax Returns were correct and complete in all material respects and were prepared in substantial compliance with all
applicable laws and regulations. 
  

 16 

 (2) All Taxes due and owing by Seller or its Subsidiaries (whether or not shown on any Tax Return) have
been paid, and the Seller and its Subsidiaries have made adequate provision on their books and records for all Taxes payable that have accrued but are not yet due. 
 (3) Neither Seller nor its Subsidiaries currently is the beneficiary of any extension of time within which to file any Tax Return. 
 (4) There are no Liens upon any of the assets of Seller or its Subsidiaries that arose in connection with any failure or alleged failure to pay any Tax. 
 (5) Each of Seller and its Subsidiaries have withheld and timely paid in all material respects all Taxes required to have been withheld and paid in
connection with any amounts paid or owing from compensation income, and Seller and its Subsidiaries have complied in all material respects with all Tax information reporting provisions of all applicable federal, state, foreign and local laws.

 (6) No foreign, federal, state, or local audits or administrative or judicial Tax proceedings are pending being conducted or, to
Seller’s Knowledge, threatened with respect to Seller or Subsidiaries. Neither Seller nor its Subsidiaries has received from any foreign, federal, state, or local taxing authority (including jurisdictions where Seller or its Subsidiaries have
not filed Tax Returns) any (i) notice indicating an intent to open an audit, nexus inquiry or other review, or (ii) notice of underpayment, deficiency or proposed adjustment for any amount of Tax proposed, asserted, or assessed by any
taxing authority against Seller or its Subsidiaries. No dispute or claim concerning any Tax liability of any of the Seller or its Subsidiaries has been proposed, asserted or assessed (and is currently pending). 
 (7) No waivers of statute of limitations nor extensions of time with respect to a Tax assessment or deficiency have been given by or requested with
respect to any Taxes of Seller or its Subsidiaries. 
 (8) Neither Seller nor its Subsidiaries has made any payments, is obligated to make
any payments, or is a party to any agreement, contract, arrangement or plan that has resulted or could result, separately or in the aggregate, in the payment of any amount that would not be deductible by reason of Code Section 280G (or any
corresponding provision of state, local or foreign Tax law). 
 (9) Neither Seller nor its Subsidiaries has been a United States real
property holding corporation within the meaning of Code §897(c)(2) during the applicable period specified in Code §897(c)(1)(A)(ii). 
 (10) Neither Seller nor its Subsidiaries is a party to or bound by any Tax allocation or Tax sharing agreement. 
  

 17 

 (11) Neither Seller nor its Subsidiaries (i) has been a member of an affiliated, combined or
consolidated group for purposes of filing any Tax Return (other than a group the common parent of which was Seller), or (ii) has any liability for the Taxes of any Person (other than Seller or any of its Subsidiaries) under Treas. Reg. §
1.1502-6, Treas. Reg. §1.1502-78, or any similar provision of state, local or foreign law, as a transferee or successor, by contract, or otherwise. 
 (12) To Seller’s Knowledge, neither Seller nor its Subsidiaries have engaged in a “reportable transaction” as such term is defined in Treasury Regulations Section 1.6011-4(b). 
 (13) Neither Seller nor any of its Subsidiaries has distributed stock of another Person, or has had its stock distributed by another Person, in a
transaction that was purported or intended to be governed in whole or in part by Code §355 or Code §361. 
 (j) Litigation.
Except as set forth in Schedule 4.01(j), no action, suit or proceeding by or before any Governmental Authority (“Litigation”) is pending or, to the Knowledge of Seller, threatened against or affecting Seller or any of its Subsidiaries.
There is presently no material outstanding judgment, decree or order of any Governmental Authority against Seller or any of its Subsidiaries. 
 (k) Compliance With Laws. Except as set forth in Schedule 4.01(k), each of Seller and its Subsidiaries: 
 (1) to
Seller’s Knowledge, conducts its business in compliance in all material respects with all applicable federal, state and local statutes, laws, regulations, ordinances, rules, judgments, orders or decrees applicable thereto or to the employees
conducting such business; and 
 (2) has all material permits and licenses of, and has made all material filings, applications and
registrations with, all Governmental Authorities required in order to permit it to own or lease its properties and to conduct the Business as presently conducted; all such material permits and licenses are in full force and effect. 
 (l) Real Property. Seller and its Subsidiaries have good and marketable title to the real property listed in Schedule 4.01(l) (“Owned Real
Property”), free and clear of all Liens, except (i) Permitted Liens or (ii) those referred to in the reviewed financial statements of Seller and its Subsidiaries for the fiscal year ended May 31, 2007, or the notes thereto.
Neither Seller or its Subsidiaries have received any written notice that the present uses of the Owned Real Property or the existing buildings located thereon are not in material compliance with the present zoning classifications assigned to such
real property or are not legal nonconforming uses or legal nonconforming structures. Neither Seller nor any of its Subsidiaries have received any written notice or request from any Governmental Authority, insurer or board of fire authorities for the
termination or limitation of any access or insurance with respect thereto. All such Owned Real Property is adequately insured against loss. Neither Seller nor any of its Subsidiaries own any real property not listed in Schedule 4.01(l). Except as
disclosed on Schedule 4.01(l) attached hereto: 
 (1) Seller or its Subsidiaries have present possession of all of the Owned Real Property
and neither Seller nor its Subsidiaries have received written notice or have any Knowledge that any of the improvements occupied or used by the Seller or its Subsidiaries are not wholly within the boundary lines of the Owned Real Property.

  

 18 

 (2) Neither Seller nor its Subsidiaries have received any written notice or have any Knowledge that any
improvements of any adjacent owner encroach upon any part of the Owned Real Property or that any party other than Seller or its Subsidiaries has made any claim to any part of the Owned Real Property. 
 (3) Neither Seller nor its Subsidiaries have granted or to the Knowledge of Seller has any other party granted any option or right of first refusal to
purchase the Owned Real Property or any portion thereof or interest therein, that is outstanding. Neither Seller nor its Subsidiaries or to the Knowledge of Seller has any other party, leased or granted any rights to any party other than Seller or
its Subsidiaries with respect to any part of the Owned Real Property except for the Permitted Liens. 
 (4) The Owned Real Property
constitutes all of the real property owned by Seller and its Subsidiaries and, to the Knowledge of Seller, there is no other real property in which Seller or its Subsidiaries have an interest, whether by easement or lease. 
 (5) Neither Seller nor its Subsidiaries have received any written notice of any violation or claimed violation of any building, zoning, subdivision or
other land use or similar law affecting the Owned Real Property or the use or occupancy thereof, or any violation or claimed violation, any condition, covenant, restriction, easement, order, law, code, order, ordinance or regulation relating to the
Owned Real Property. 
 (6) There is no eminent domain or similar proceeding pending, or to the Knowledge of Seller, threatened, with
respect to any portion of the Owned Real Property. 
 (7) Neither Seller nor its Subsidiaries have ever owned or leased any property located
in the State of Ohio nor have Seller or its Subsidiaries received any notice from the Environmental Protection Agency regarding potential liability with respect to any such property. 
 (m) Environmental. Except as disclosed in Schedule 4.01(m) attached hereto: 
 (1) To the Knowledge of Seller, there are no Environmental Conditions that would reasonably be expected to result in a Material Adverse Effect on the
Seller or its Subsidiaries. The term “Environmental Condition” means (x) the presence in surface water, groundwater, drinking water supply, land surface, subsurface strata, above-ground or underground storage tanks or other
containers, or ambient air of any pollutant, contaminant, industrial waste, hazardous waste, polychlorinated biphenyls, radioactive materials, toxic or hazardous substances (“Hazardous Substances”) or (y) any violation of any statute,
ordinance, regulation, administrative order, judicial order or decree relating to the emission, discharge, deposit, disposal, leaching, migration or release of any Hazardous Substance into the environment or the generation, treatment, storage, use,
handling, transportation or disposal of any Hazardous Substance arising out of or otherwise related to the operations or other activities of Seller, or any of its Subsidiaries, conducted or undertaken prior to the Closing; and 
  

 19 

 (2) Seller and its Subsidiaries have not received any written notice from any Governmental Authority
that alleges that any material Environmental Condition exists. 
 (n) Personal Property; Leases. 
 (1) All personal property used by Seller and its Subsidiaries in the Business is either owned or leased by Seller or its Subsidiaries and is generally
suitable in all material respects for the operations of the Business as currently conducted by Seller and its Subsidiaries. 
 (2) All
leased real property and leased personal property of Seller and its Subsidiaries is listed in Schedule 4.01(n) attached hereto. Except as disclosed in Schedule 4.01(n), (i) Seller or one of its Subsidiaries has good and valid title to the
leasehold estates in all Leased Property, in each case free and clear of all Liens except Permitted Liens and (ii) no consents or approvals are required under the leases listed in Schedule 4.01(n) in connection with the transactions
contemplated by this Merger Agreement. 
 (o) Assets. Except as set forth on Schedule 4.01(o), Seller and its Subsidiaries have good
and valid title to, or have a valid right to use or license, all of the assets and properties used by Seller and its Subsidiaries to conduct, the Business as conducted prior to or on the date of this Merger Agreement, free and clear of all Liens
except Permitted Liens and Liens to be released prior to Closing. All such assets are in working order, except for customary and normal repair and maintenance, and the assets taken as a whole are sufficient to conduct the Business as it is currently
conducted. 
 (p) Material Contracts. Schedule 4.01(p) is a true and complete listing of all Material Contracts. The Material
Contracts have been submitted or made available to Buyer. Neither Seller nor any of its Subsidiaries is in breach or default (or an event which, with notice or lapse of time or both, would constitute a default) of or with respect to any material
provision of any Material Contract, and, to Seller’s Knowledge, no other Person to any Material Contract is in breach thereunder. Each Material Contract is a valid and legally binding obligation of Seller or one of its Subsidiaries, as
applicable, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency and other laws affecting the enforceability of creditors’ rights generally and the discretion of courts in granting or denying equitable
remedies. 
 (q) Insurance. (1) Schedule 4.01(q) sets forth a complete and accurate list and description of all policies of
property, professional liability, general liability, product liability, directors and officers liability, fiduciary liability, workers compensation and any other forms of insurance covering Seller and any of its Subsidiaries, for any policy period
presently in effect (i) under which Seller or any of its Subsidiaries is the owner, beneficiary or insured; and (ii) of which any officer or director of Seller or any of its Subsidiaries, in their capacity as such, is the owner,
beneficiary or insured. True and correct copies of such policies currently in effect have heretofore been delivered to Buyer. There is no claim by Seller or any of its Subsidiaries pending under any such policies as to which coverage has been
questioned, denied or disputed by the underwriters of such policies, and to Seller’s Knowledge, there is no basis for denial of any claim under any such policy. 
  

 20 

 (2) Schedule 4.01(q) expressly identifies each policy as to which (i) the coverage limit has been
reached or (ii) the total incurred losses to date equal 75% or more of the coverage limit. 
 (3) Seller or its Subsidiaries have paid
all premiums due and have otherwise performed all of their respective obligations under each policy set forth in Schedule 4.01(q). 
 (4)
All policies of insurance set forth in Schedule 4.01(q) taken together provide adequate insurance coverage for Seller and its Subsidiaries. 
 (5) Neither Seller nor any of its Subsidiaries has any self-insurance or other arrangements, other than policies of insurance, for the transfer or sharing of any risk of Company or any of its Subsidiaries arising from their business.

 (6) The insurance policies set forth on Schedule 4.01(q) do not provide for any retrospective premium adjustment or loss sharing
arrangement. 
 (r) Employee Benefits. 
 (1) Schedule 4.01(r) sets forth a list of all Benefit Plans under which any employee or former employee of Seller or any Subsidiaries has any present or future right to benefits or under which Seller or any
Subsidiaries has any liability for present or future payment of benefits. 
 (2) As applicable with respect to each Benefit Plan, Seller has
delivered to Buyer true, correct and complete copies of (i) each current Benefit Plan document, including any amendments, (ii) all trust documents and custodial agreements relating thereto, (iii) any summary plan description provided
under a Benefit Plan; and (iv) the most recent annual report (Form 5500 and all schedules thereto) filed with the IRS. 
 (3) Except as
set forth on Schedule 4.01(r): 
 (11) Each Benefit Plan has been maintained, operated and administered in all material
respects in compliance with its terms and any related documents or agreements and the applicable provisions of ERISA, the Code and other applicable Laws. 
 (12) No Benefit Plan is a “multiemployer plan” within the meaning of Section 3(37) of ERISA or a “defined benefit plan” within the meaning of Section 3(35) of ERISA. Neither Seller nor
any Subsidiaries has contributed to, or withdrawn from, any “multiemployer plan” or has any fixed or contingent liability under Section 4204 of ERISA. There is no Person which, together with Seller or any Subsidiaries of Seller, is
treated as a single employer under Section 4001(b)(1) of ERISA or Sections 414(b), (c), (m) or (o) of the Code. 
  

 21 

 (13) The Benefit Plans which are “employee pension benefit plans” within the
meaning of Section 3(2) of ERISA and which are intended to meet the qualification requirements of Section 401(a) of the Code are an adoption of a prototype plan for which the plan sponsor has received a determination letter from the IRS
regarding the form of plan document upon which Seller is entitled to rely, and to the Knowledge of the Sellers, nothing has occurred which would cause the loss of such qualification and each such plan meets the requirements of ERISA with respect to
anti-discrimination issues. 
 (14) Neither Seller nor any Subsidiaries of Seller has engaged in a prohibited transaction, as
defined under Section 4975 of the Code or Sections 406 of ERISA, which could subject Seller or any Subsidiaries to any material taxes, penalties or other liabilities under Section 4975 of the Code or Sections 409 or 502(i) of ERISA.

 (15) No Benefit Plan is a pension benefit plan that is subject to Section 302 of ERISA, Section 412 of the Code
or Title IV of ERISA. 
 (16) Each Benefit Plan that is a “group health plan” within the meaning of ERISA
Section 607(1) and that is subject to Code Section 4980B has been operated in all material respect in compliance with the continuation coverage requirements of those provisions. 
 (17) No Benefit Plan provides death or medical benefits beyond termination of service or retirement other than (i) coverage mandated
by law, or (ii) benefits under a Benefit Plan qualified under Code Section 401(a). 
 (18) With respect to any
Benefit Plan, no actions, audits or suits (other than routine claims for benefits in the ordinary course) are pending or, to the Knowledge of the Sellers, threatened. 
 (s) Labor Relations. To the Knowledge of Seller, there are no pending or threatened labor disputes with any employees of Seller or employees of any of its Subsidiaries. Neither Seller nor any of its
Subsidiaries is a party to or is bound by a collective bargaining Contract with any labor union or labor organization, except as may be created by the labor agreement set forth on Schedule 4.01(s), nor is there any strike or other labor dispute
involving it or any of its Subsidiaries pending or, to Seller’s Knowledge, threatened, nor is Seller aware of any activity involving it or any of its Subsidiaries’ employees seeking to certify a collective bargaining unit or engaging in
other organizational activity. 
 (t) Related Party Transactions. Except as set forth on Schedule 4.01(t) or as disclosed in the
Financial Statements, (i) there is no indebtedness between Seller or any of its Subsidiaries, on the one hand, and any officer, director or shareholder (other than Seller or any of its Subsidiaries) of Seller or any of its Subsidiaries, on the
other hand, other than usual and immaterial advances made in the ordinary course of business; (ii) no such officer, director or shareholder provides any material assets, services (other than services as an officer, director or 

  

 22 

 
employee) or facilities to Seller or any of its Subsidiaries; or (iii) neither Seller nor any of its Subsidiaries provides any material assets, services
or facilities to any such officer, director or shareholder (other than as reasonably necessary for them to perform their duties as officers, directors or employees). 
 (u) Intellectual Property. 
 (1) Schedule 4.01(u) hereto sets forth a correct and complete list of
all Intellectual Property of the Seller and its Subsidiaries. 
 (2) Seller or its Subsidiaries owns or possesses adequate licenses or other
valid right to use all of the Intellectual Property. The Intellectual Property constitutes all such rights necessary to conduct the Business in accordance with past practice. The validity of the Intellectual Property and the rights therein of Seller
have not been questioned in any litigation to which Seller or any Subsidiaries is a party, nor to the Knowledge of Seller has any such litigation been threatened. 
 (3) To the Knowledge of Seller, as of the date of this Agreement, and except pursuant to matters set forth on Schedule 4.01(u), (i) no Intellectual Property have been infringed or misappropriated by any Person;
(ii) the conduct of the Business does not conflict in any material respect with any material patent rights, licenses, trademark rights, trade name rights, copyrights or other intellectual property rights of others; and (iii) Seller and its
Subsidiaries have not received any notice of infringement from any third party. 
 (4) All employees and consultants who have contributed to
or participated in the conception and development of the Intellectual Property on behalf of Seller or any Subsidiaries of Seller either (1) have been party to a “work-for-hire” arrangement or agreement with the Seller, in accordance
with applicable federal and state law, that has accorded Seller full, effective, exclusive, and original ownership of all tangible and intangible property thereby arising, or (2) have executed appropriate instruments of assignment in favor of
the Seller as assignee that have conveyed to the Seller full, effective, and exclusive ownership of all tangible and intangible property arising thereby. 
 (v) Receivables. Except as disclosed in the Financial Statements, all existing accounts receivable of Seller and each of its Subsidiaries with respect to the Business represent valid obligations of customers of
Seller and its Subsidiaries arising from bona fide transactions entered into in the ordinary course of business. 
 (w) Inventory. All
inventory of Seller and its Subsidiaries with respect to the Business consists of a quality and quantity usable and salable in the ordinary course of business, except for obsolete items and items of below-standard quality. 
 (x) Books and Records. The books and records of Seller and its Subsidiaries have been maintained in accordance with sound business practices, and
to the Knowledge of Seller there are no material inaccuracies or discrepancies of any kind contained or reflected therein. 
  

 23 

 (y) No Broker. No action has been taken by Seller or any of its Subsidiaries that would give rise
to any valid claim against the Parties for a brokerage commission, finder’s fee or other like payment with respect to the transactions contemplated by this Merger Agreement. 
 (z) No Other Representations or Warranties. (1) Except for the representations and warranties contained in this Article IV and any Exhibits
and Schedules delivered by Seller and the Shareholders under this Merger Agreement neither the Seller, any of its Subsidiaries, the Shareholders nor any of their respective directors, employees, agents or representatives nor any other Person makes
any other express or implied representation or warranty (i) in respect of the Seller, any of its Subsidiaries or the Shareholders or any of their respective assets, liabilities or operations or (ii) as to the accuracy or completeness of
any information regarding Seller or any of its Subsidiaries furnished or made available to Buyer, Merger Sub and their representatives or (iii) in respect of any proforma, projected, budget, management or plan financial information for Seller
or any of its Subsidiaries, and any such other representations or warranties are hereby expressly disclaimed. 
 (2) No representation or
warranty by Seller in this Agreement, nor any statement, certificate, schedule, document or exhibit hereto furnished or to be furnished by or on behalf of Seller pursuant to this Agreement or in connection with transactions contemplated hereby,
considered collectively and as updated or superseded by any subsequent statement, certificate, schedule, document or exhibit delivered to Buyer, contains or shall contain any untrue statement of material fact or omits or shall omit a material fact
necessary to make the statements contained therein not misleading. 
 (aa) Schedule 4.01(aa) contains a true, correct and complete copy of
Seller’s standard warranty or warranties for sales of products sold in the Business. Schedule 4.01(aa) sets forth the estimated aggregate annual cost to Seller of performing warranty obligations for customers for each of the two
(2) preceding fiscal years and the current fiscal year to September 30, 2007 and contains a description of all product liability and similar claims relating to products manufactured or sold, or services rendered, which are presently
pending or which to Seller’s Knowledge are threatened, or which have been asserted or commenced against Seller within the last three (3) fiscal years, in which a party thereto either requests injunctive relief or alleges damages (whether
or not covered by insurance) in any single case in excess of $10,000. To the Knowledge of Seller, there are no defects in design, construction or manufacture of products sold by Seller or its Subsidiaries in connection the Business which would
create a material risk of injury to persons or property. 
 4.02 Representations and Warranties of Buyer. Buyer represents and
warrants to Seller as follows: 
 (a) Organization. Buyer is a limited liability company duly organized, validly
existing and in good standing under the laws of the jurisdiction of its formation. Merger Sub is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation. 
  

 24 

 (b) Authority for Transactions. Each of Buyer and Merger Sub has the requisite
corporate power and authority, and has taken all limited liability company or corporate action necessary, in order to authorize the execution and delivery of, and performance of its obligations under, this Merger Agreement and to consummate the
Merger. The Merger Agreement is a valid and legally binding obligation of each of Buyer and Merger Sub, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency and other laws affecting the enforceability of
creditors’ rights generally and the discretion of courts in granting or denying equitable remedies. 
 (c) Consents or
Approvals; No Defaults. (1) No consents or approvals of, or filings or registrations with, any Governmental Authority or with any third party are required to be made or obtained by Buyer or Merger Sub in connection with the execution,
delivery or performance by each of Buyer and Merger Sub of this Merger Agreement, or to consummate the Merger and the other transactions contemplated hereby, except for (A) the filing of the Pennsylvania Certificate of Merger and (B) the
filing of applications and notices pursuant to the Hart-Scott-Rodino Act with respect to the Merger and the expiration or termination of the waiting period related thereto. 
 (2) Subject to receipt of the regulatory approvals, and expiration of the waiting periods, referred to in the preceding paragraph, the execution,
delivery and performance of this Merger Agreement and the consummation of the transactions contemplated hereby do not and will not (A) constitute a breach or violation of any law, regulation or order to which either Buyer or Merger Sub or any
of its properties is subject or bound or (B) constitute a breach or violation of, or a default under, each of the Buyer’s and Merger Sub’s constituent documents. 
 (d) No Broker. No action has been taken by Buyer or Merger Sub that would give rise to any valid claim against the Parties for a
brokerage commission, finder’s fee or other like payment with respect to the transactions contemplated by this Merger Agreement. 
 (e) No Knowledge of Breach. To the knowledge of Buyer or Merger Sub, none of the representations or warranties of Seller or the Shareholders is inaccurate or false in any material respect. 
 (f) Registration. Buyer and Merger Sub are undertaking the Merger for their own account and not with a view to the distribution of
securities and Buyer shall not offer to sell or otherwise dispose of the shares of Surviving Corporation in violation of any of the registration requirements of the Securities Act of 1933, as amended. 
 (g) Financial Capacity. Buyer of Merger Sub has cash or existing credit facilities which are sufficient to enable it to pay the
aggregate Merger Consideration and consummate the Merger and the transactions contemplated hereunder. As of the date of this Merger Agreement neither Buyer nor Merger Sub have any reason to believe that any conditions under its credit facilities
will not be satisfied or that necessary funds will not be available on a timely basis to permit the consummation of the Merger and the transactions contemplated hereunder. 
  

 25 

 (h) Independent Analysis. Buyer and Merger Sub recognize that Seller and
Shareholders have made no representation or warranty upon which Buyer and Merger Sub is relying with respect to the Surviving Corporation’s ability to obtain business subsequent to the Closing Date. Buyer and Merger Sub has performed its own
due diligence and investigations and has formed its own conclusions regarding the condition (financial and otherwise), value, property, liabilities, contracts, contingencies, prospects, risks, and other incidents of the Business in response to the
parties’ express intention and agreement that, as of the Closing Date, the transaction contemplated by this Merger Agreement shall be without representation or warranty of any kind (express or implied) regarding the Business, except as set
forth in Article IV hereof. Any projections or statements previously provided by Seller were prepared for internal planning purposes and were based upon reasonable assumptions. Seller specifically disclaims any warranty as to the accuracy of any
projections previously provided. Buyer and Merger Sub are entering into this Merger Agreement based upon their own business judgment and independent analysis. 
 ARTICLE V 
 COVENANTS 
 5.01 Reasonable Efforts. Subject to the terms and conditions of this Merger Agreement, each of the Parties agrees to use commercially reasonable efforts in good faith to take, or cause to be taken, all actions,
and to do, or cause to be done, all things necessary, proper or desirable, or advisable under applicable laws, so as to permit consummation of the Merger, subject to the conditions of the respective obligations to Close as stated herein, as promptly
as practicable and otherwise to enable consummation of the transactions contemplated hereby and shall cooperate fully with the other party hereto to that end, including the execution of such documents that are reasonably necessary in connection with
the issuance of title insurance insuring title to the Owned Real Property. 
 5.02 Seller Shareholder Approvals. Seller agrees to
take, in accordance with applicable law, its articles of incorporation and its bylaws, all action necessary to either (i) convene an appropriate meeting of shareholders of Seller to consider and vote upon or (ii) obtain the requisite
written consent of the shareholders of Seller regarding the approval and adoption of this Merger Agreement and any other matters required to be approved by its shareholders for consummation of the Merger and the transactions contemplated hereby as
promptly as reasonably practicable after the date of this Merger Agreement. Unless the Board of Directors of Seller, after having consulted with and considered the written advice of outside counsel, has determined in good faith that to do so would
result in a failure by the directors to discharge properly their fiduciary duties in accordance with Pennsylvania law, Seller’s Board shall recommend such approval to Seller’s shareholders, and Seller shall use commercially reasonable
efforts to solicit such approval by its shareholders. 
 5.03 Public Disclosure. Each of the Parties agrees that such Party (including
any parent entity of such Party) will not, without the prior approval of the other Parties, issue any press release or written statement for general circulation relating to the transactions contemplated hereby, except for any release or statement
that counsel to the disclosing Party advises in writing is required by law or regulation and as to which the disclosing Party has used commercially reasonable efforts to discuss with the other Parties in advance. Notwithstanding 

  

 26 

 
the foregoing, each of the Parties may make internal statements and announcements to their respective employees that are consistent with prior public
disclosures made by the Parties with respect to the transactions contemplated hereunder or make disclosures required to obtain any necessary consents or authorizations required pursuant to this Agreement. 
 5.04 Access; Information. 
 (a) Seller agrees that upon reasonable notice and subject to applicable laws relating to the exchange of information and to the rights of customers, it shall afford Buyer and its officers, employees, counsel, accountants and other
authorized representatives, such access during normal business hours throughout the period prior to the Effective Time to the books, records (including, without limitation, Tax Returns and work papers of independent auditors), properties, personnel
and to such other information of Seller and its Subsidiaries as Buyer may reasonably request and, during such period, it shall furnish promptly to Buyer all information concerning the business, properties and personnel of Seller as Buyer may
reasonably request, including monthly financial statements. Buyer and Merger Sub shall indemnify and defend Seller and its Subsidiaries and save Seller and its Subsidiaries harmless from and against any and all claims, actions, damages, liabilities
and expenses, including reasonable attorney’s fees, in connection with any loss, injury and/or damage to persons or property arising from or out of any investigation and/or survey of the property under the terms of this Section 5.04 to the
extent caused or occasioned wholly or in part by any act or omission of Buyer or Merger Sub or their agents, contractors or employees. 
 (b) Upon the request of Seller, Buyer and Merger Sub shall provide Seller with copies of (i) lien searches, (ii) environmental reports and (iii) any supplementary information and reports required to be
submitted with its filings under the Hart-Scott-Rodino Act that have been obtained applicable to and in contemplation of the transactions hereunder. 
 5.05 Confidentiality. Buyer acknowledges that the information being provided to it in connection with the Merger and the consummations of the other transactions contemplated hereby is subject to the terms and
conditions of a confidentiality agreement between Buyer and Seller dated as of October 22, 2007 (the “Confidentiality Agreement”), the terms of which are incorporated herein by reference, and the Shareholders agree to be bound by the
restrictive covenants of Seller contained in the Confidentiality Agreement. Effective upon the Closing, the Confidentiality Agreement shall terminate with respect to information related to the Surviving Corporation and its Subsidiaries. 

5.06 Consents and Approvals. 
 (a) The Parties and their respective subsidiaries shall cooperate and use their respective commercially reasonable efforts to prepare all documentation, to effect all filings and to obtain all permits, consents,
approvals and authorizations of all third parties and Governmental Authorities necessary to consummate the transactions contemplated by this Merger Agreement. Each of the Parties agrees that it will consult with the other Parties, subject to
applicable law, with respect to the obtaining of all material permits, consents, approvals and authorizations of all third parties and Governmental Authorities necessary or advisable to consummate the transactions contemplated by this Merger
Agreement and each Party will keep the other Parties apprised of the status of material matters relating to completion of the transactions contemplated hereby. 
  

 27 

 (b) Without limiting the generality of the foregoing, each of the relevant Parties will
file within ten (10) business days of the date of this Merger Agreement any Notification and Report Forms and related material that it may be required to file with the Federal Trade Commission and the Antitrust Division of the United States
Department of Justice under the Hart-Scott-Rodino Act, will use its commercially reasonable efforts to obtain an early termination of the applicable waiting period, and will make promptly any further filings pursuant thereto that may be necessary in
connection therewith. 
 5.07 Notice of Certain Matters. Until the Effective Time, each Party shall give the other Parties prompt
written notice of (i) any fact, event or circumstances that to the Knowledge of a Party (1) is reasonably likely, individually or taken together with all other facts, events and circumstances known to it, to result in any Material Adverse
Effect with respect to it or (2) would cause or constitute a material breach of any of its representations, warranties, covenants or agreements contained herein or (ii) constitutes a material change or inaccuracies in any data previously
given or made available to the other Parties pursuant to this Merger Agreement. 
 5.08 Tax Matters. 
 (a) Tax Periods Ending on or Before the Closing Date. 
 (i) Shareholders shall cause to be prepared by a paid return preparer and timely file (or cause to be timely filed) within six (6) months of the Closing Date all Tax Returns for Seller and its Subsidiaries for
all Tax periods ending on or prior to the Closing Date, including those Tax Returns that are due to be filed after the Closing Date (“Pre-Closing Tax Periods”). With respect to any Tax Returns filed with respect to any Pre-Closing Tax
Periods, the Shareholders shall be responsible for the payment of all Taxes due with respect to such Pre-Closing Tax Periods in excess of the accrual, net of any prepayment, for Taxes on the Closing Statement and the Working Capital Excess, whether
or not such Taxes are shown on the Tax Return (“Pre-Closing Taxes”). Shareholders shall provide Buyer with a copy of all Tax Returns for Pre-Closing Tax Periods no later than ten (10) business days prior to the date on which such Tax
Return is due, and Shareholders shall submit proof of payment of all Taxes shown on such Tax Returns, if required under this Section 5.08(a)(i), no later than three (3) business days following the date that such Tax Return is filed.
Shareholders agree to indemnify Buyer for any Pre-Closing Taxes of Seller or its Subsidiaries that are due and owing with respect to such Pre-Closing Tax Periods in excess of (i) the accrual for Taxes on the Closing Statement and (ii) the
Working Capital Excess. Accruals for and prepayments of Taxes will be made in a manner consistent with past practice as described in Exhibit A to this Agreement. 
 (ii) Without the prior written consent of Buyer, neither Seller nor its Subsidiaries shall make or change any election, change an annual accounting period, adopt or change any accounting method, file any amended Tax
Return, enter into any closing agreement, settle any Tax claim or assessment relating to Seller or its Subsidiaries, surrender any right to claim a refund of Taxes, consent to any extension or waiver of the limitation period applicable to 

  

 28 

 
any Tax claim or assessment relating to Seller or its Subsidiaries, or take any other similar action relating to the filing of any Tax Return or the payment
of any Tax, if such election, adoption, change, amendment, agreement, settlement, surrender, consent or other action would have the effect of increasing the Tax liability of Seller or its Subsidiaries for any period ending after the Closing Date or
decreasing any Tax attribute of Seller or its Subsidiaries existing on the Closing Date. 
 (b) Tax Periods beginning Before and Ending
After the Closing Date. 
 (i) Buyer shall prepare or cause to be prepared and file or cause to be filed all Tax Returns for Seller and
its Subsidiaries for all Tax periods which begin before the Closing Date and end after the Closing Date (“Straddle Periods”). With respect to any Tax Returns filed with respect to any Straddle Period, the Shareholders shall be responsible
for and pay the Taxes of Seller and its Subsidiaries for Tax periods or portions thereof ending on or before the Closing Date that are due in respect of such Tax Returns, but only to the extent the amount of such taxes exceed the accrual for taxes
on the Closing Statement and the Working Capital Excess (the “Pre-Closing Straddle Taxes”). Shareholders agree to indemnify Buyer for the amount of any unpaid Pre-Closing Straddle Taxes. 
 (ii) For purposes of this Agreement, in the case of any Taxes of Seller or its Subsidiaries that are payable with respect to any Straddle Period, the
portion of any such Taxes that constitutes Pre-Closing Taxes shall: (i) in the case of Taxes that are either (x) based upon or related to income or receipts, or (y) imposed in connection with any sale, transfer or assignment or any
deemed sale, transfer or assignment of property (real or personal, tangible or intangible), be deemed equal to the amount that would be payable if the Tax year or period ended on the Closing Date; and (ii) in the case of Taxes (other than those
described in clause (i) above) that are imposed on a periodic basis with respect to the business or assets of Seller or its Subsidiaries or otherwise measured by the level of any item, be deemed to be the amount of such Taxes for the entire
Straddle Period (or, in the case of such Taxes determined on an arrears basis, the amount of such Taxes for the immediately preceding Tax period) multiplied by a fraction the numerator of which is the number of calendar days in the portion of the
Straddle Period ending on the Closing Date and the denominator of which is the number of calendar days in the entire Straddle Period. For purposes of clause (i) of the preceding sentence, any exemption, deduction, credit or other item
(including, without limitation, the effect of any graduated rates of tax) that is calculated on an annual basis shall be allocated to the portion of the Straddle Period ending on the Closing Date on a pro rata basis determined by multiplying the
total amount of such item allocated to the Straddle Period times a fraction, the numerator of which is the number of calendar days in the portion of the Straddle Period ending on the Closing Date and the denominator of which is the number of
calendar days in the entire Straddle Period. In the case of any Tax based upon or measured by capital (including net worth or long-term debt) or intangibles, any amount thereof required to be allocated under this Section 5.08(b)(ii) shall be
computed by reference to the level of such items on the Closing Date. 
 (c) Tax Cooperation. Buyer, the Shareholders and the Selling
Parties’ Representative shall reasonably cooperate with each other in connection with the preparation of Tax Returns related to Seller and its Subsidiaries and shall preserve all information, returns, books, records and documents relating to
any liabilities for Taxes with respect to a Taxable period. 
  

 29 

 (d) Transfer Taxes. The Shareholders and Buyer shall each pay one-half (1/2) of all sales,
use, value added, transfer, stamp, registration, documentary, excise, real property transfer or gains, or similar Taxes incurred as a result of the transaction contemplated in this Agreement (collectively, “Transfer Taxes”). 
 (e) FIRPTA Certificate. Seller shall request that each Shareholder furnish Buyer with a certificate in compliance with Treasury Regulations
Section 1.1445-2, certifying that the transactions contemplated herein with respect to such Shareholder are exempt from withholding under Section 1445 of the Code. 
 5.09 Offer of Life Insurance Policies. Prior to surrendering, terminating or causing the cancellation of any Life Insurance Policy, Buyer agrees
to give thirty (30) days written notice (the “Option Period”) to the named insured under the respective Life Insurance Policy and offer to transfer such Life Insurance Policy to the named insured for an amount equal to the cash
surrender value of the Life Insurance Policy. If the named insured does not purchase the respective Life Insurance Policy from the Buyer within the Option Period, the Buyer shall have no further obligation under this Section 5.09 with respect
to such Life Insurance Policy. 
 5.10 Product Liability Insurance. For a period of two (2) years from the Closing Date, Buyer
agrees to keep in place with a reputable insurer product liability insurance insuring the Surviving Corporation against claims relating to products designed, manufactured or sold prior to the Closing Date. Such insurance shall be in an amount no
less than the amount of product liability insurance customarily held by Seller. 
 5.11 Director and Officer Matters. The Seller and
Shareholders acknowledge and agree that the expenses set forth on Schedule 5.11 shall no longer be paid or reimbursed by the Surviving Corporation or any Subsidiaries following the Closing Date. 
 5.12 Exclusivity. Neither the Shareholders, nor Seller or any of its Subsidiaries, shall initiate, solicit or enter into, directly or indirectly,
any discussion or transaction regarding any proposal or offer with respect to a merger or acquisition or similar transaction involving, or any purchase of all or a substantial portion of the assets or equity securities of, Seller or any of its
Subsidiaries, other than the transactions contemplated by this Merger Agreement. The covenants of this Section 5.11 shall be void in the event this Agreement is terminated pursuant to Article VII prior to the Closing Date. 
 ARTICLE VI 
 CONDITIONS PRECEDENT 

6.01 Conditions to Each Party’s Obligation to Effect the Merger. The respective obligation of Buyer, Merger Sub and Seller to consummate
the transactions contemplated by this Merger Agreement is subject to fulfillment or written waiver by Buyer, Merger Sub and Seller prior to the Effective Time of each of the following conditions: 
 (a) Shareholder Approval. This Merger Agreement and the Merger shall have been duly approved by the affirmative vote or consent of
the holders of at least the requisite number of outstanding shares of Seller Common Stock entitled to vote or consent thereon in accordance with applicable law and the Seller’s articles of incorporation and bylaws. No action shall have been
instituted by a shareholder to enjoin, restrain or prohibit, this Merger Agreement, or the consummation of the transactions contemplated hereby (other than the exercise of statutory dissenter rights). 
  

 30 

 (b) Government Approvals and Other Consents. All Regulatory Approvals shall have
been obtained or made and shall be in full force and effect and all waiting periods (including any extensions thereof) under applicable law, including the Hart-Scott-Rodino Act, shall have expired or otherwise been terminated. 
 (c) Third Party Consents. All material consents or approvals of all Persons, other than Governmental Authorities, required for or
in connection with the execution, delivery and performance of this Merger Agreement and the consummation of the Merger shall have been obtained and shall be in full force and effect. 
 (d) No Injunction. No action, injunction, proceeding, decree, statute, legislation, rule, regulation or other order (whether
temporary, preliminary or permanent) shall have been issued, enacted, promulgated, enforced, instituted or threatened before any Governmental Authority or legislative body to enjoin, restrain or prohibit, or to obtain substantial damages in respect
of, or which is related to or arises out of, this Merger Agreement, the consummation of the transactions contemplated hereby or the Merger, which, in the good faith judgment of either Buyer, Merger Sub or Seller, would make it inadvisable to
consummate such transactions. 
 6.02 Conditions Precedent to the Obligations of Buyer. The obligations of Buyer to consummate the
transactions contemplated by this Merger Agreement shall be subject to fulfillment or written waiver by Buyer prior to the Effective Time of each of the following conditions: 
 (a) Performance of Covenants. Each of the covenants to be performed by Seller hereunder on or before the Effective Time shall have
been duly performed in all material respects; and the Seller shall have executed and delivered to Buyer a certificate, dated as of the Closing Date, to such effect. 
 (b) Representations True at Closing. The representations and warranties made by Seller herein and in any certificate provided to
Buyer hereunder shall be true and correct in all material respects as of the date of this Merger Agreement and as of the Closing Date as though made on and as of the Closing Date (or as of the date when made in the case of any representation and
warranty which specifically relates to an earlier date); and Seller shall have executed and delivered to Merger Sub a certificate, dated as of the Closing Date, to such effect. 
  

 31 

 (c) Secretary’s Certificates. The President or Secretary of Seller shall have
furnished Buyer with a certificate certifying as true, correct and complete as of the Closing Date: (i) the articles of incorporation of Seller and any Subsidiaries; (ii) the bylaws of Seller and any Subsidiaries; (iii) a copy of
resolutions duly adopted by the board of directors of Seller authorizing and approving this Merger Agreement and the transactions contemplated hereby; (iv) a copy of resolutions duly adopted by the shareholders of Seller authorizing and
approving this Merger Agreement and the transactions contemplated hereby; and (v) the incumbency of each of the officers of Seller. 
 (d) Material Adverse Effect. Since the date of this Merger Agreement, there shall not have occurred any Material Adverse Effect with respect to Seller or a Subsidiaries, on a non-consolidated basis. 

(e) Noncompete Agreements. The execution and delivery of noncompete agreements, in the form attached as Exhibit “B”,
by the Persons listed on Schedule 6.02(e) shall have been executed as of the date of this Agreement. 
 (f) Voting
Agreements. The execution and delivery of voting agreements, in the form attached as Exhibit “C”, by the Persons listed on Schedule 6.02(f) shall have been executed as of the date of this Agreement. 
 (g) Dissenters. The aggregate number of Dissenting Shares shall not equal five percent (5%) or more of the Seller Common Stock
outstanding as of the Closing Date. 
 (h) Closing Documents. All actions to be taken by Seller and the Shareholders in
connection with consummation of the transactions contemplated hereby and all certificates, instruments and other documents, including Exhibits, required or reasonably necessary to effect the transactions contemplated hereby will be reasonably
satisfactory in form and substance to Buyer. 
 6.03 Conditions Precedent to the Obligations of Seller. The obligations of Seller to
consummate the transactions contemplated by this Merger Agreement shall be subject to fulfillment or written waiver by Seller prior to the Effective Time of each of the following conditions: 
 (a) Performance of Covenants. Each of the covenants to be performed by Buyer and Merger Sub hereunder on or before the Effective
Time shall have been duly performed in all material respects; and Buyer shall each have executed and delivered to Seller a certificate, dated as of the Closing Date, to such effect. 
 (b) Representations True at Closing. The representations and warranties made by Buyer herein and in any certificate provided by
Buyer hereunder shall be true and correct in all material respects as of the date of this Merger Agreement and as of the Closing Date as though made on and as of the Closing Date (or as of the date when made in the case of any representation and
warranty which specifically relates to an earlier date), and Buyer shall each have executed and delivered to Seller a certificate, dated as of the Closing Date, to such effect. 
  

 32 

 (c) Secretary’s Certificates. The President or Secretary of Buyer shall have
furnished Seller with a certificate certifying as true, correct and complete as of the Closing Date: (i) the certificate of organization of Buyer and the articles of incorporation of Merger Sub; (ii) the operating agreement of Buyer and
the bylaws of Merger Sub; (iii) a copy of resolutions duly adopted by the board of managers or directors of each of Buyer and Merger Sub authorizing and approving this Merger Agreement and the transactions contemplated hereby; and (iv) the
incumbency of each of the officers of Buyer and Merger Sub. 
 (d) Closing Documents. All actions to be taken by Buyer
and Merger Sub in connection with consummation of the transactions contemplated hereby and all certificates, instruments and other documents, including Exhibits, required or reasonably necessary to effect the transactions contemplated hereby will be
reasonably satisfactory in form and substance to Seller. 
 ARTICLE VII 
 TERMINATION 
 7.01 Termination of this Merger Agreement. This Merger Agreement
and the transactions contemplated hereby may be terminated and the Merger may be abandoned: 
 (a) Mutual Consent. At
any time prior to the Effective Time by mutual consent of Buyer and Seller, if the Boards of Directors of each so determines by a vote of a majority of the members of its entire Board; 
 (b) Breach. At any time prior to the Effective Time, by Buyer or Seller, in each case if its Board of Directors so determines by
vote of a majority of the members of its entire Board, in the event of a breach by Seller or Buyer, respectively, of any representation or warranty, or of any of the forbearances, covenants or agreements, contained herein, which breach cannot be or
has not been cured within thirty (30) days after the giving of written notice to the breaching Party of such breach and which breach would be reasonably likely, individually or in the aggregate, to have a Material Adverse Effect on the
nonbreaching Party, provided that the party seeking termination is not then in material breach of any representations, warranties, covenants or agreements contained in this Merger Agreement. 
 (c) Delay. At any time prior to the Effective Time, by Buyer or Seller, in each case if its Board of Directors so determines by
vote of a majority of the members of its entire Board, in the event that the Merger is not consummated by March 19, 2008, except to the extent that the failure of the Merger then to be consummated arises out of or results from the action or
inaction of the Party seeking to terminate pursuant to this Section 7.01(c) and provided further that the Party seeking termination is not then in material breach of any representations, warranties, covenants or agreements contained in this
Merger Agreement. 
 (d) No Approval. By Buyer or Seller, in each case if its Board of Directors so determines by a vote of a majority
of the members of its entire Board, in the event (1) the approval of any Governmental Authority required for consummation of the Merger and the other transactions contemplated by this Merger Agreement shall have been denied by final
nonappealable action of such Governmental Authority or (2) any shareholder approval required by Section 5.02 herein is not obtained. 
  

 33 

 (e) Working Capital. By Buyer, in the event Buyer reasonably believes that Closing Working Capital
will not be equal to or greater than Twenty One Million Five Hundred Fifty Thousand and No/100 Dollars ($21,550,000.00) at Closing; provided, however, that Buyer shall not be required to terminate this Agreement in such case and may elect to effect
the Closing and seek other remedies that it may have under this Agreement for a breach of this Agreement, if any. 
 7.02 Consequences of
Termination and Abandonment. Upon any termination of this Merger Agreement and abandonment of the Merger pursuant to this Article VII, no Party shall have any liability or further obligation to the other Parties except that termination will not
relieve a breaching Party from liability for any willful breach of this Merger Agreement giving rise to such termination; provided, however, that in the event this Agreement is terminated for any reason by either party because of a breach of the
other pursuant to Section 7.01(b), the breaching party shall pay to the terminating party, as its sole and exclusive remedy, a termination fee equal to the reasonable out-of-pocket expenses the terminating party incurred, directly or
indirectly, in connection with this transaction, in an amount not to exceed $1,000,000 (the “Termination Fee”). 
 ARTICLE VIII

 SURVIVAL; INDEMNIFICATION 
 8.01 Survival. All representations, warranties and covenants in this Merger Agreement or in any instrument delivered pursuant hereto shall survive the Closing Date for a period of one (1) year thereafter. Notwithstanding the
forgoing, the covenant contained in Section 5.10 shall survive the Closing Date for a period of two (2) years. 
 8.02
Indemnification by the Shareholders. 
 (a) Each of the shareholders will severally indemnify, hold harmless and defend Buyer, Merger
Sub and the Surviving Corporation, together with their respective successors and assigns (the “Buyer Indemnities”), from, against and with respect to any and all damage, loss, deficiency, expense (including any reasonable attorney fees or
expenses), action, suit, proceedings, demand, assessment or judgment to or against Buyer, Merger Sub or the Surviving Corporation including any punitive, exemplary or consequential damages (but only to the extent such punitive, exemplary or
consequential damages are contained as part of an award to a third party) (collectively, “Buyer Loss”) as a result of, arising out of or in connection with: 
 (1) any breach or violation by Seller or the Shareholders of any of their representations, warranties, forbearances or covenants contained
in this Merger Agreement; 
 (2) any breach, violation, or nonperformance by Seller or the Shareholders of any of their
covenants or agreements contained in this Merger Agreement, including the payment of any Post-closing Adjustment Amount; or 
  

 34 

 (3) fees and expenses of any broker, investment banker or other advisor engaged by Seller
or the Shareholders in connection with the execution of this Merger Agreement or consummation of the transactions contemplated hereby, other than Seller’s Transaction Expenses to the extent deducted from the Initial Consideration pursuant to
Section 2.02(b)(2) hereof. 
 (b) Notwithstanding the above Section 8.02(a) or any other provision in this Merger Agreement to the
contrary, the shareholders shall not have any obligation to indemnify the Buyer Indemnities with respect to clause Section 8.02(a)(1) above, until the aggregate amount of Buyer Losses by reason of all such breaches exceeds Five Hundred Thousand
and No/100 Dollars ($500,000.00) (the “Deductible”), and then only for the amount by which the aggregate amount of Buyer Losses exceeds the Deductible; provided, however, that the Deductible shall not apply to any Buyer Losses resulting
from (i) any fraud of Seller, its Subsidiaries or any Shareholder or (ii) any expenditure not made in a manner consistent with Section 3.01(n). Notwithstanding the above Section 8.02(a) or any other provision in this Merger
Agreement to the contrary, shareholders will have no obligation to indemnify Buyer Indemnities from and against Buyer Losses to the extent Buyer Losses exceed the balance of any undistributed Escrow Amount held by the Escrow Agent, including
interest thereon (the “Indemnification Cap”). In addition to the foregoing indemnity by the shareholders of Seller to be funded by the Escrow Amount, the Shareholders agree that, in the case of fraud by the Seller, its Subsidiaries or any
of the Shareholders, the Shareholders will jointly and severally indemnify and hold harmless Buyer for any amount of Buyer Losses resulting from any such fraud by Seller, its Subsidiaries or any of the Shareholders that are in excess of, or
otherwise not collectible from, the Escrow Amount, and that such indemnification by the Shareholders shall not be limited to the Escrow Amount or the Indemnification Cap nor be subject to the Deductible, but the liability of each Shareholder shall
not exceed the total amount of Merger Consideration received by such Shareholder. 
 8.03 Indemnification by Buyer. 
 (a) Buyer will indemnify, hold harmless and defend the shareholders, together with their respective heirs, successors and assigns, from,
against and with respect to any and all damage or loss, deficiency, expense (including any reasonable attorney fees or expenses), action, suit, proceeding, demand, assessment or judgment to or against the shareholders including any punitive,
exemplary or consequential damages (but only to the extent such punitive, exemplary or consequential damages are contained as part of an award to a third party) (collectively, the “Shareholders’ Loss”) arising out of or in connection
with: 
 (1) all liabilities, damages, claims or obligations of any nature whatsoever (whether accrued, absolute, contingent,
unasserted or otherwise) incurred or accrued against Buyer, Merger Sub or the Surviving Corporation arising out of the business activities of the Surviving Corporation except to the extent the shareholders are required to provide indemnification for
such liabilities, damages, claims and obligations pursuant to Section 8.02; 
 (2) any breach or violation by Buyer or
Merger Sub of any of their respective representations or warranties contained in this Merger Agreement; 
  

 35 

 (3) any breach, violation or nonperformance by Buyer or Merger Sub of any of their
respective covenants or agreements contained in this Merger Agreement, including the payment of any Post-closing Adjustment Amount; or 
 (4) fees and expenses of any broker, investment banker or other advisor engaged by Buyer or Merger Sub in connection with the execution of this Merger Agreement or the transactions contemplated hereby. 
 8.04 Dispute Resolution. Should Buyer and the Selling Parties Representative be unable to agree as to the amount of Buyer Loss for which Buyer is
to be indemnified, or the amount of Shareholders’ Loss for which the shareholders are to be indemnified, then either Buyer or the Selling Parties Representative, as the case may be, may commence arbitration proceedings in Pittsburgh,
Pennsylvania, in accordance with the provisions of Section 9.10. 
 8.05 Notice of Claims. 
 (a) If any claim is made by or against a party which, if sustained, would give rise to a liability of the other party hereunder, that party (the
“Claiming Party”) will promptly cause notice of the claim to be delivered to the other party (the “Indemnifying Party”) and will afford the Indemnifying Party and its counsel, at the Indemnifying Party’s sole expense, the
opportunity to defend or settle the claim (and, with respect to claims made by third parties, the Claiming Party will have the right to participate at its sole expense). Any notice of a claim will state, with reasonable specification, the alleged
basis for the claim and the amount of liability asserted by or against the other party by reason of the claim. If such notice is not given, it will not release the Indemnifying Party, in whole or in part, from its obligations under this Article
VIII, except to the extent that the Indemnifying Party’s ability to defend against such claim is actually prejudiced thereby. Alternatively, if notice is given and the Indemnifying Party fails to assume the defense of the claim within fifteen
(15) business days thereof, the claim may be defended, compromised or settled by the Claiming Party without the consent of the Indemnifying Party and the Indemnifying Party will remain liable under this Article VIII. The Indemnifying Party may
not consent to the entry of any judgment or enter into any compromise or settlement with respect to a third party claim without the prior written consent of the Indemnified Party unless such judgment, compromise or settlement (i) provides for
the payment by the Indemnifying Party of money as sole relief for the claimant, and (ii) involves no finding or admission of any violation of law. 
 8.06 Escrow. On the Closing Date, Buyer will deposit with an escrow agent mutually agreeable to Seller and Buyer (the “Escrow Agent”) the Escrow Amount to be held in escrow pursuant to the terms and
conditions of an Escrow Agreement in the form mutually agreeable to Seller and Buyer (the “Escrow Agreement”) for the purpose of providing a source of funds to reimburse Buyer for any Buyer Loss. Within ten (10) days after the Closing
Working Capital has been finally determined in accordance with Section 2.06, the Escrow Agent shall be directed to distribute from the Escrow Amount the amount of One Million Five Hundred and No/100 ($1,500,000.00), (i) less any
Post-closing Adjustment Amount entitled to be received by Buyer pursuant to Section 2.06; and (ii) less the amount of any Buyer Loss paid or payable from the Escrow Amount for which Buyer has given proper notice; payable pro rata to each
of the holders of Seller Common Stock who were entitled to receive the Merger 

  

 36 

 
Consideration pursuant to Section 2.02(a). Pursuant to the Escrow Agreement, Buyer must provide the Selling Parties Representative with notice of
claims, in the form of an officer’s certificate for any Buyer Loss for which Buyer seeks recovery or before 11:59 p.m. Eastern Time on the first anniversary of the Closing Date (the “Expiration Date”). Pursuant to the terms of
the Escrow Agreement, Buyer shall be paid from the Escrow Amount the amount equal to the Buyer Loss for which there is no objection in the periods set forth in the Escrow Agreement or for which any objection has been resolved, or is deemed to have
been resolved, in accordance with the provisions of the Escrow Agreement. Any remaining Escrow Amount and interest at the Expiration Date, except for adequate reserves for pending claims, shall be distributed pro rata to each of the holders of
Seller Common Stock who were entitled to receive the Merger Consideration pursuant to Section 2.02(a). 
 8.07 Other Indemnification
Provisions. 
 (a) The balance of any undistributed Escrow Amount held by the Escrow Agent, including any interest thereon, shall be the
sole and exclusive remedy of the Buyer Indemnities following the Closing for any inaccuracy or breach of any representation or warranty agreement made by Seller and the Shareholders in this Merger Agreement (including the Exhibits and Schedules) and
any other Buyer Loss with respect to which indemnification is provided in this Merger Agreement. 
 (b) In determining the amount of any
Buyer Loss or Shareholder Loss hereunder any applicable insurance coverage, tax savings, any environmental reimbursement program or other related value received by the Indemnified Party shall be taken into account. The Indemnified Party shall use
commercially reasonable efforts to pursue and collect on any recovery from any insurance coverage or reimbursement program and shall net such actual recovery against any indemnification claim hereunder. 
 8.08 Selling Parties Representative. 
 (a) Each shareholder hereby constitutes and appoints Grant A. Colton, Jr. as their representative (“Selling Parties Representative”) and their true and lawful attorney in fact, with full power and authority
in each of their names and on behalf of each of them: 
 (1) to act on behalf of each of them in the absolute discretion of the Selling
Parties’ Representative with respect to all provisions of this Merger Agreement, including the power to act in connection with any matter as to which each of the Shareholders have obligations or are indemnified under Article VIII hereof;

 (2) to act on behalf of each of them in the absolute discretion of the Selling Parties Representative with respect to all provisions of
the Escrow Agreement, including the provision of any notices, instructions or directions to the Escrow Agent thereunder; and 
 (3) in
general, to do all things and to perform all acts, including executing and delivering all agreements, certificates, receipts, instructions and other instruments contemplated by or deemed advisable to effectuate the provisions of Article II, this
Section 8.08, or Section 9.08. 
  

 37 

 (b) Any action, request, decision or resolution to be made by the shareholders under this
Merger Agreement and the Escrow Agreement shall only be made through the Selling Parties Representative. The Selling Parties Representative may be replaced by the Shareholders at any time on five (5) days written notice to Buyer signed by a
majority of the Shareholders. Any such action, request, decision or resolution made by such representative shall be deemed to be the action, request, decision or resolution of the shareholders, individually and collectively. 
 (c) This appointment and grant of power and authority is coupled with an interest and is in consideration of the mutual covenants made
herein and is irrevocable and shall not be terminated by any act of either of the shareholders or by operation of law, whether by the death or incapacity of any shareholder or by the occurrence of any other event. Each Shareholder hereby consents to
the taking of any and all actions and the making of any decisions required or permitted to be taken or made by the Selling Parties Representative pursuant to this Section 8.08. Each of the shareholders and Seller agree that the Selling Parties
Representative shall have no obligation or liability to any Person for any action or omission taken or omitted by the Selling Parties Representative in good faith hereunder, and each of the shareholders shall, on a proportionate basis in accordance
with his or her ownership interest in the Seller, indemnify and hold the Selling Parties Representative harmless from and against any and all loss, damage, expense or liability (including reasonable counsel fees and expenses) which the Selling
Parties Representative may sustain as a result of any such action or omission by the Selling Parties Representative hereunder. 
 ARTICLE IX

 MISCELLANEOUS 
 9.01 Further
Assurances. From time to time as and when requested by Buyer, or its respective successors or assigns, Seller, or the officers and directors of Seller last in office prior to consummation of the Merger, shall execute and deliver such agreements,
documents and other instruments necessary to consummate the Merger and shall take or cause to be taken such other actions, including those as shall be necessary to vest or perfect in or to confirm of record or otherwise in the Surviving Corporation
title to and possession of all the property, interests, assets, rights, privileges, immunities, powers, franchises and authority of Seller, as shall be necessary or advisable to carry out the purposes of and effect the transactions contemplated by
this Merger Agreement. 
 9.02 Expenses. Except as otherwise provided in this Merger Agreement, all expenses incurred by each Party in
connection with or related to the authorization, preparation and execution of this Merger Agreement, and all other matters related to the closing of the transactions contemplated hereby, including without limiting the generality of the foregoing,
all fees and expenses of agents, representatives, counsel and accountants employed by any such Party, shall be borne solely and entirely by the Party which has incurred the same. Notwithstanding the foregoing, all filing fees required under the
Hart-Scott-Rodino Act shall be paid by the Buyer. 
 9.03 Notices. All notices, requests and other communications hereunder to a Party
shall be in writing and shall be deemed given (a) on the date of delivery, if personally delivered 

  

 38 

 
or telecopied (with confirmation), (b) on the first business day following the date of dispatch, if delivered by a recognized next-day courier service,
or (c) on the third business day following the date of mailing, if mailed by registered or certified mail (return receipt requested), in each case to such Party at its address or telecopy number set forth below or such other address or numbers
as such Party may specify by notice to the Parties. 
  

			
	(a)	  	If to Seller or the Shareholders, to:
		
		  	GA Industries, Inc.
		  	9025 Marshall Road
		  	Cranberry Township, PA 16066
		  	Tel: (724) 776-1020
		  	Fax: (724) 776-1455
		  	Attention: Grant A. Colton, Jr., Chairman
		
		  	with a copy to:
		
		  	Robert D. German, Esquire
		  	Sherrard, German & Kelly, P.C.
		  	28th Floor, Two PNC Plaza
		  	Pittsburgh, Pennsylvania 15222
		  	Tel: (412) 355-0200
		  	Fax: (412) 261-6221
		
	(b)	  	If to Buyer:
		
		  	Zurn Industries, LLC
		  	1801 Pittsburgh Avenue
		  	Erie, PA 16501
		  	Tel: (814) 455-0921
		  	Fax: (814) 454-7929
		  	Attention: Patricia Whaley, General Counsel
		
		  	with a copy to:
		
		  	Douglas J. Tucker, Esquire
		  	Quarles & Brady, LLP
		  	411 East Wisconsin Avenue, Suite 2040
		  	Milwaukee, Wisconsin 53202
		  	Tel: (414) 277-5000
		  	Fax: (414) 271-3552

 9.04 Binding Effect. This Merger Agreement shall be binding upon and inure to the benefit
of the Parties hereto and their respective successors and assigns. This Merger Agreement may not be assigned by any Party without the express written consent of the other Parties. 
  

 39 

 9.05 Counterparts. This Merger Agreement may be executed in two or more counterparts, any of which
may be delivered by facsimile or electronic pdf transmission, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
 9.06 Integration; No Third-Party Beneficiaries. This Merger Agreement (together with the Schedules and the other Exhibits hereto) constitutes the
entire understanding of the Parties with respect to the subject matter hereof and supersedes all prior agreements, arrangements or communications, oral or written, between the Parties with respect to the subject matter hereunder. This Merger
Agreement is not intended to confer upon any Person other than the Parties hereto any rights or remedies hereunder, except for the provisions of Article VIII, insofar as such provisions expressly provide certain rights to the indemnified parties
named therein. 
 9.07 Severability. If any term or other provision of this Merger Agreement is held by a court of competent
jurisdiction to be invalid, illegal or incapable of being enforced under any rule of law in any particular respect or under any particular circumstances, such term or provision shall nevertheless remain in full force and effect in all other respects
and under all other circumstances, and all other terms, conditions and provisions of this Merger Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not
affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Merger Agreement so
as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the fullest extent possible. 
 9.08 Waiver; Amendment. This Merger Agreement may be changed, waived, discharged or terminated only by an instrument in writing signed by the
Party against which the enforcement of such change, waiver, discharge or termination is sought. Any of the terms or conditions of this Merger Agreement may be waived in writing at any time by the Party which is entitled to the benefit thereof.

 9.09 Governing Law. This Merger Agreement shall be governed by, and interpreted in accordance with, the laws of the Commonwealth of
Pennsylvania applicable to contracts made and to be performed entirely within such state. 
 9.10 Arbitration. Any controversy or
claim arising out of or relating to this Merger Agreement or any related agreement shall be settled by arbitration in accordance with the following provisions: 
 (a) Disputes Covered. The agreement of the Parties to arbitrate covers all disputes of every kind relating to or arising out of
this Merger Agreement. Disputes include actions for breach of contract with respect to this Merger Agreement, as well as any claim based upon tort or any other causes of action relating to the transactions contemplated by this Merger Agreement, such
as claims based upon an allegation of fraud or misrepresentation and claims based upon a federal or state statute. In addition, the arbitrators selected according to procedures set forth below shall determine the arbitrability of any matter brought
to them, and their decision shall be final and binding on the Parties. 
  

 40 

 (b) Forum. The forum for the arbitration shall be Pittsburgh, Pennsylvania. 
 (c) Law. The governing law for the arbitration shall be the law of the Commonwealth of Pennsylvania, without reference to its conflicts of laws
provisions. 
 (d) Selection. There shall be three (3) arbitrators, unless the parties are able to agree on a single arbitrator.
In the absence of such agreement within ten (10) days after the initiation of an arbitration proceeding, Seller, or with respect to a dispute following the Effective Time, the Shareholders, shall select one arbitrator and Buyer shall select one
arbitrator, and those two (2) arbitrators shall then select, within ten (10) days, a third arbitrator. If those two (2) arbitrators are unable to select a third arbitrator within such ten (10) day period, a third arbitrator shall
be appointed by the commercial panel of the American Arbitration Association. The decision in writing of at least two of the three arbitrators shall be final and binding upon the Parties. 
 (e) Administration. The arbitration shall be administered by the American Arbitration Association. 
 (f) Rules. The rules of arbitration shall be the Commercial Arbitration Rules of the American Arbitration Association, as modified by any other
instructions that the parties may agree upon at the time, except that each party shall have the right to conduct discovery in any manner and to the extent authorized by the Federal Rules of Civil Procedure as interpreted by the federal courts. If
there is any conflict between those Rules and the provisions of this Section, the provisions of this Section shall prevail. 
 (g)
Substantive Law. The arbitrators shall be bound by and shall strictly enforce the terms of this Merger Agreement and may not limit, expand or otherwise modify its terms. The arbitrators shall apply substantive applicable law, but an
arbitration decision shall not be subject to review because of errors of law. The arbitrators shall be bound to honor claims of privilege or work-product doctrine recognized at law, but the arbitrators shall have the discretion to determine whether
any such claim of privilege or work product doctrine applies. 
 (h) Decision. The arbitrators’ decision shall provide a reasoned
basis for the resolution of each dispute and for any award. The arbitrators shall not have power to award damages in connection with any dispute in excess of actual compensatory damages and shall not multiply actual damages or award consequential or
punitive damages. 
 (i) Expenses. Each Party shall bear its own fees and expenses with respect to the arbitration and any proceeding
related thereto and the parties shall share equally the fees and expenses of the American Arbitration Association and the arbitrators. 
 (j)
Remedies; Award. Subject to Section 9.10(h), the arbitrators shall have power and authority to award any remedy or judgment that could be awarded by a court of law in the Commonwealth of Pennsylvania. The award rendered by arbitration
shall be final and binding upon the Parties, and judgment upon the award may be entered in any court of competent jurisdiction in the United States. 
  

 41 

 [Remainder of this page has been intentionally left blank] 
  

 42 

 IN WITNESS HEREOF, each Party hereto has caused this Merger Agreement to be executed on its behalf by its
duly authorized officer, all as of the day and year first above set forth. 
  

					
	ATTEST:	  	BUYER:
		
		  	ZURN INDUSTRIES, LLC
			
	 /s/ Susan Messer
	  	By:	 	 /s/ Alex P. Marini

		  	Name:	 	Alex P. Marini
		  	Title:	 	President
		
	ATTEST:	  	SELLER:
		
		  	GA INDUSTRIES, INC.
			
	 /s/ Susan Messer
	  	By:	 	 /s/ Grant A. Colton

		  	Name:	 	Grant A. Colton, Jr.
		  	Title:	 	Chairman of the Board
		
	WITNESS:	  	SHAREHOLDER:
		
	 /s/ Susan Messer
	  	 /s/ Grant A. Colton, Sr.

		  	Grant A. Colton, Sr.
		
	WITNESS:	  	SHAREHOLDER:
		
	 /s/ Susan Messer
	  	 /s/ Grant A. Colton, Jr.

		  	Grant A. Colton, Jr.
		
	WITNESS:	  	SHAREHOLDER:
		
	 /s/ Susan Messer
	  	 /s/ Michael L. Colton

		  	Michael L. Colton

  

 43Form of Senior Indenture

 Exhibit 4.17 
 NUVELO, INC., 
 Issuer 
 AND 
 WELLS FARGO BANK, N.A.,

 Trustee 
  

 INDENTURE 
 Dated as of                           , 200   
  

 Senior Debt Securities

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	PAGE
	 ARTICLE 1    DEFINITIONS
	  	1
				
		  	Section 1.01  	  	Definitions of Terms	  	1
		
	 ARTICLE 2    ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF
SECURITIES
	  	5
				
		  	Section 2.01  	  	Designation and Terms of Securities	  	5
				
		  	Section 2.02  	  	Form of Securities and Trustee’s Certificate	  	7
				
		  	Section 2.03  	  	Denominations: Provisions for Payment	  	8
				
		  	Section 2.04  	  	Execution and Authentications	  	9
				
		  	Section 2.05  	  	Registration of Transfer and Exchange	  	10
				
		  	Section 2.06  	  	Temporary Securities	  	11
				
		  	Section 2.07  	  	Mutilated, Destroyed, Lost or Stolen Securities	  	11
				
		  	Section 2.08  	  	Cancellation	  	12
				
		  	Section 2.09  	  	Benefits of Indenture	  	12
				
		  	Section 2.10  	  	Authenticating Agent	  	12
				
		  	Section 2.11  	  	Global Securities	  	13
		
	 ARTICLE 3    REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS
	  	14
				
		  	Section 3.01  	  	Redemption	  	14
				
		  	Section 3.02  	  	Notice of Redemption	  	14
				
		  	Section 3.03  	  	Payment Upon Redemption	  	15
				
		  	Section 3.04  	  	Sinking Fund	  	16
				
		  	Section 3.05  	  	Satisfaction of Sinking Fund Payments with Securities	  	16
				
		  	Section 3.06  	  	Redemption of Securities for Sinking Fund	  	16
		
	 ARTICLE 4    COVENANTS
	  	17
				
		  	Section 4.01  	  	Payment of Principal, Premium and Interest	  	17
				
		  	Section 4.02  	  	Maintenance of Office or Agency	  	17
				
		  	Section 4.03  	  	Paying Agents	  	18
				
		  	Section 4.04  	  	Appointment to Fill Vacancy in Office of Trustee	  	19
				
		  	Section 4.05  	  	Compliance with Consolidation Provisions	  	19
		
	 ARTICLE 5    SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE
	  	19

  

 i. 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

							
	 	  	 	  	 	  	PAGE
		  	Section 5.01  	  	Company to Furnish Trustee Names and Addresses of Securityholders	  	19
				
		  	Section 5.02  	  	Preservation Of Information; Communications With Securityholders	  	19
				
		  	Section 5.03  	  	Reports by the Company	  	20
				
		  	Section 5.04  	  	Reports by the Trustee	  	20
		
	 ARTICLE 6    REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
	  	20
				
		  	Section 6.01  	  	Events of Default	  	20
				
		  	Section 6.02  	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	22
				
		  	Section 6.03  	  	Application of Moneys Collected	  	23
				
		  	Section 6.04  	  	Limitation on Suits	  	24
				
		  	Section 6.05  	  	Rights and Remedies Cumulative; Delay or Omission Not Waiver	  	25
				
		  	Section 6.06  	  	Control by Securityholders	  	25
				
		  	Section 6.07  	  	Undertaking to Pay Costs	  	26
		
	 ARTICLE 7    CONCERNING THE TRUSTEE
	  	26
				
		  	Section 7.01  	  	Certain Duties and Responsibilities of Trustee	  	26
				
		  	Section 7.02  	  	Certain Rights of Trustee	  	27
				
		  	Section 7.03  	  	Trustee Not Responsible for Recitals or Issuance or Securities	  	28
				
		  	Section 7.04  	  	May Hold Securities	  	29
				
		  	Section 7.05  	  	Moneys Held in Trust	  	29
				
		  	Section 7.06  	  	Compensation and Reimbursement	  	29
				
		  	Section 7.07  	  	Reliance on Officers’ Certificate	  	30
				
		  	Section 7.08  	  	Disqualification; Conflicting Interests	  	30
				
		  	Section 7.09  	  	Corporate Trustee Required; Eligibility	  	30
				
		  	Section 7.10  	  	Resignation and Removal; Appointment of Successor	  	30
				
		  	Section 7.11  	  	Acceptance of Appointment By Successor	  	32
				
		  	Section 7.12  	  	Merger, Conversion, Consolidation or Succession to Business	  	33
				
		  	Section 7.13  	  	Preferential Collection of Claims Against the Company	  	33
				
		  	Section 7.14  	  	Notice of Default	  	33

  

 ii. 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

							
	 	  	 	  	 	  	PAGE
	 ARTICLE 8    CONCERNING THE SECURITYHOLDERS
	  	34
				
		  	Section 8.01  	  	Evidence of Action by Securityholders	  	34
				
		  	Section 8.02  	  	Proof of Execution by Securityholders	  	34
				
		  	Section 8.03  	  	Who May be Deemed Owners	  	35
				
		  	Section 8.04  	  	Certain Securities Owned by Company Disregarded	  	35
				
		  	Section 8.05  	  	Actions Binding on Future Securityholders	  	35
		
	 ARTICLE 9    SUPPLEMENTAL INDENTURES
	  	36
				
		  	Section 9.01  	  	Supplemental Indentures Without the Consent of Securityholders	  	36
				
		  	Section 9.02  	  	Supplemental Indentures With Consent of Securityholders	  	37
				
		  	Section 9.03  	  	Effect of Supplemental Indentures	  	37
				
		  	Section 9.04  	  	Securities Affected by Supplemental Indentures	  	38
				
		  	Section 9.05  	  	Execution of Supplemental Indentures	  	38
		
	 ARTICLE 10  SUCCESSOR ENTITY
	  	38
				
		  	Section 10.01	  	Company May Consolidate, Etc.	  	38
				
		  	Section 10.02	  	Successor Entity Substituted	  	39
				
		  	Section 10.03	  	Evidence of Consolidation, Etc. to Trustee	  	39
		
	 ARTICLE 11  SATISFACTION AND DISCHARGE
	  	40
				
		  	Section 11.01	  	Satisfaction and Discharge of Indenture	  	40
				
		  	Section 11.02	  	Discharge of Obligations	  	40
				
		  	Section 11.03	  	Deposited Moneys to be Held in Trust	  	41
				
		  	Section 11.04	  	Payment of Moneys Held by Paying Agents	  	41
				
		  	Section 11.05	  	Repayment to Company	  	41
		
	 ARTICLE 12  IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	  	41
				
		  	Section 12.01	  	No Recourse	  	41
		
	 ARTICLE 13  MISCELLANEOUS PROVISIONS
	  	42
				
		  	Section 13.01	  	Effect on Successors and Assigns	  	42
				
		  	Section 13.02	  	Actions by Successor	  	42
				
		  	Section 13.03	  	Surrender of Company Powers	  	42
				
		  	Section 13.04	  	Notices	  	42

  

 iii. 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

							
	 	  	 	  	 	  	PAGE
		  	Section 13.05	  	Governing Law	  	43
				
		  	Section 13.06	  	Treatment of Securities as Debt	  	43
				
		  	Section 13.07	  	Certificates and Opinions as to Conditions Precedent	  	43
				
		  	Section 13.08	  	Payments on Business Days	  	43
				
		  	Section 13.09	  	Conflict with Trust Indenture Act	  	44
				
		  	Section 13.10	  	Counterparts	  	44
				
		  	Section 13.11	  	Separability	  	44
				
		  	Section 13.12	  	Compliance Certificates	  	44

  

	(1)	This Table of Contents does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions. 

  

 iv. 

 INDENTURE 
 INDENTURE, dated as of [·], 200  , among
NUVELO, INC., a Delaware corporation (the “Company”), and WELLS FARGO BANK, N.A., as trustee (the “Trustee”): 
 WHEREAS, for its lawful corporate purposes, the Company has duly authorized the execution and delivery of this
Indenture to provide for the issuance of debt securities (hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to time in one or more series as in this Indenture provided, as
registered Securities without coupons, to be authenticated by the certificate of the Trustee; 
 WHEREAS, to provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and 
 WHEREAS, all things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms,
have been done. 
 NOW, THEREFORE, in consideration of the premises and the purchase of
the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities: 
 ARTICLE 1 
 DEFINITIONS 
 Section 1.01 Definitions of Terms. 
 The terms defined in this Section (except as in this Indenture or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental
hereto shall have the respective meanings specified in this Section and shall include the plural as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that are by
reference in such Act defined in the Securities Act of 1933, as amended (except as herein or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in
said Trust Indenture Act and in said Securities Act as in force at the date of the execution of this instrument. 
 “Authenticating Agent” means an authenticating agent with respect to all or any of the series of Securities appointed by the Trustee pursuant to Section 2.10. 
 “Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors. 
 “Board of Directors” means the Board of Directors of the Company or any duly authorized committee of such Board. 
  

 1 

 “Board Resolution” means a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification. 
 “Business Day” means, with respect to any series of Securities, any day other than a day on which federal or state banking institutions in the Borough of Manhattan, the City of New York, or in
the city of the Corporate Trust Office of the Trustee, are authorized or obligated by law, executive order or regulation to close. 
 “Certificate” means a certificate signed by any Officer. The Certificate need not comply with the provisions of Section 13.07. 
 “Company” means NUVELO, INC., a corporation duly organized and existing under the laws of the State of Delaware, and, subject to the provisions of Article
Ten, shall also include its successors and assigns. 
 “Corporate Trust Office” means the office of the Trustee at
which, at any particular time, its corporate trust business shall be principally administered, which office at the date hereof is located at 625 Marquette Avenue, Minneapolis, MN 55479. 
 “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 “Default” means any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default.

 “Depositary” means, with respect to Securities of any series for which the Company shall determine that such
Securities will be issued as a Global Security, The Depository Trust Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Securities and Exchange Act of 1934, as amended (the “Exchange
Act”), or other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.01 or 2.11. 
 “Event of Default” means, with respect to Securities of a particular series, any event specified in Section 6.01, continued for the period of time, if any, therein designated. 

“Global Security” means, with respect to any series of Securities, a Security executed by the Company and delivered by the
Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary or its nominee. 
 “Governmental Obligations” means securities that are (a) direct obligations of the United States of America for the payment
of which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the payment of which is unconditionally guaranteed as a full
faith and credit obligation by the United States of America that, in either case, are not callable or redeemable at the option of the issuer thereof at any time prior to the stated maturity of the Securities, and shall 

  

 2 

 
also include a depositary receipt issued by a bank or trust company as custodian with respect to any such Governmental Obligation or a specific payment of
principal of or interest on any such Governmental Obligation held by such custodian for the account of the holder of such depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make any deduction
from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such
depositary receipt. 
 “herein”, “hereof” and “hereunder”, and
other words of similar import, refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 “Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into in accordance with the terms hereof.

 “Interest Payment Date”, when used with respect to any installment of interest on a Security of a particular
series, means the date specified in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to Securities of that series is due and
payable. 
 “Officer” means, with respect to the Company, the chairman of the Board of Directors, a chief executive
officer, a president, a chief financial officer, a chief operating officer, any executive vice president, any senior vice president, any vice president, the treasurer or any assistant treasurer, the controller or any assistant controller or the
secretary or any assistant secretary. 
 “Officers’ Certificate” means a certificate signed by any two Officers.
Each such certificate shall include the statements provided for in Section 13.07, if and to the extent required by the provisions thereof. 
 “Opinion of Counsel” means an opinion in writing subject to customary exceptions of legal counsel, who may be an employee of or counsel for the Company, that is delivered to the Trustee in accordance with the terms
hereof. Each such opinion shall include the statements provided for in Section 13.07, if and to the extent required by the provisions thereof. 
 “Outstanding”, when used with reference to Securities of any series, means, subject to the provisions of Section 8.04, as of any particular time, all Securities of that series theretofore authenticated and
delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled by the Trustee or any paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously been canceled;
(b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall
have been set aside and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities or portions of such Securities are to be redeemed prior to the maturity thereof, notice of such
redemption shall have been given as in Article Three provided, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in lieu of or in substitution for which other Securities shall have been
authenticated and delivered pursuant to the terms of Section 2.07. 
  

 3 

 “Person” means any individual, corporation, partnership, joint venture,
joint-stock company, limited liability company, association, trust, unincorporated organization, any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 
 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as
that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the
lost, destroyed or stolen Security. 
 “Responsible Officer” when used with respect to the Trustee means the chairman
of its board of directors, the chief executive officer, the president, any vice president, the secretary, the treasurer, any trust officer, any corporate trust officer or any other officer or assistant officer of the Trustee customarily performing
functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with the particular subject. 

“Securities” means the debt Securities authenticated and delivered under this Indenture. 
 “Securityholder”, “holder of Securities”, “registered holder”, or other similar term, means the Person or
Persons in whose name or names a particular Security shall be registered on the books of the Company kept for that purpose in accordance with the terms of this Indenture. 
 “Security Register” and “Security Registrar” shall have the meanings as set forth in Section 2.05. 
 “Subsidiary” means, with respect to any Person, (i) any corporation at least a majority of whose outstanding Voting Stock
shall at the time be owned, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii) any general partnership, joint venture or similar entity, at least a majority
of whose outstanding partnership or similar interests shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries and (iii) any limited partnership of which such Person
or any of its Subsidiaries is a general partner. 
 “Trustee” means Wells Fargo Bank, N.A., and, subject to
the provisions of Article Seven, shall also include its successors and assigns, and, if at any time there is more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee” as
used with respect to a particular series of the Securities shall mean the trustee with respect to that series. 
 “Trust Indenture
Act” means the Trust Indenture Act of 1939, as amended. 
  

 4 

 “Voting Stock”, as applied to stock of any Person, means shares, interests,
participations or other equivalents in the equity interest (however designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares, interests,
participations or other equivalents having such power only by reason of the occurrence of a contingency. 
 ARTICLE 2 
 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES 
 Section 2.01 Designation and Terms of Securities. 
 (a) The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more series up to the aggregate principal
amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution or pursuant to one or more indentures supplemental hereto. Prior to the initial issuance of Securities of any series, there shall be established in
or pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental hereto: 
 (1) the title of the Securities of the series (which shall distinguish the Securities of that series from all other Securities); 
 (2) any limit upon the aggregate principal amount of the Securities of that series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or
in exchange for, or in lieu of, other Securities of that series); 
 (3) the date or dates on which the principal of the Securities
of the series is payable, any original issue discount that may apply to the Securities of that series upon their issuance, the principal amount due at maturity, and the place(s) of payment; 
 (4) the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate or rates, if any;

 (5) the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable or
the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date for the determination of holders to whom interest is payable on any such Interest Payment Dates or the manner of determination of such record
dates; 
 (6) the right, if any, to extend the interest payment periods and the duration of such extension; 
  

 5 

 (7) the period or periods within which, the price or prices at which and the terms and conditions
upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company; 
 (8) the obligation, if
any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund, mandatory redemption, or analogous provisions (including payments made in cash in satisfaction of future sinking fund obligations) or at the option of a
holder thereof and the period or periods within which, the price or prices at which, and the terms and conditions upon which, Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 (9) the form of the Securities of the series including the form of the Certificate of Authentication for such series; 
 (10) if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which the
Securities of the series shall be issuable; 
 (11) any and all other terms (including terms, to the extent applicable, relating to
any auction or remarketing of the Securities of that series and any security for the obligations of the Company with respect to such Securities) with respect to such series (which terms shall not be inconsistent with the terms of this Indenture, as
amended by any supplemental indenture) including any terms which may be required by or advisable under United States laws or regulations or advisable in connection with the marketing of Securities of that series; 
 (12) whether the Securities are issuable as a Global Security and, in such case, the terms and the identity of the Depositary for such series;

 (13) whether the Securities will be convertible into or exchangeable for shares of common stock or other securities of the Company
or any other Person and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, including the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or
optional (at the Company’s option or the holders’ option) conversion or exchange features, and the applicable conversion or exchange period; 
 (14) if other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to
Section 6.01; 
 (15) any additional or different Events of Default or restrictive covenants (which may include, among other
restrictions, restrictions on the Company’s ability or the ability of the Company’s Subsidiaries to: incur additional indebtedness; issue additional securities; create liens; pay dividends or make distributions in respect of their capital
stock; redeem capital stock; place restrictions on such Subsidiaries placing restrictions on their ability to pay dividends, make distributions or transfer assets; make investments or other restricted payments; sell or otherwise dispose of assets;
enter into sale-leaseback transactions; engage in transactions with stockholders and affiliates; issue or sell stock of their Subsidiaries; or effect a 

  

 6 

 
consolidation or merger) or financial covenants (which may include, among other financial covenants, financial covenants that require the Company and its
Subsidiaries to maintain specified interest coverage, fixed charge, cash flow-based or asset-based ratios) provided for with respect to the Securities of the series; 
 (16) if other than dollars, the coin or currency in which the Securities of the series are denominated (including, but not limited to, foreign currency); 
 (17) the terms and conditions, if any, upon which the Company shall pay amounts in addition to the stated interest, premium, if any and principal
amounts of the Securities of the series to any Securityholder that is not a “United States person” for federal tax purposes; [and] 
 (18) any restrictions on transfer, sale or assignment of the Securities of the series. 
 All
Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures supplemental hereto. 
 If any of the terms of the series are established by action taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such
action shall be certified by the secretary or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate of the Company setting forth the terms of the series. 
 Securities of any particular series may be issued at various times, with different dates on which the principal or any installment of principal is
payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable and with different redemption dates. 
 Section 2.02 Form of Securities and Trustee’s Certificate. 
 The Securities of any series and the Trustee’s certificate of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more indentures supplemental
hereto or as provided in a Board Resolution, and set forth in an Officers’ Certificate, and they may have such letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved
thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any
securities exchange on which Securities of that series may be listed, or to conform to usage. 
  

 7 

 Section 2.03 Denominations: Provisions for Payment. 
 The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof,
subject to Section 2.01(a)(10). The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. Subject to Section 2.01(a)(16), the principal of and the interest on the
Securities of any series, as well as any premium thereon in case of redemption thereof prior to maturity, shall be payable in the coin or currency of the United States of America that at the time is legal tender for public and private debt, at the
office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City and State of New York. Each Security shall be dated the date of its authentication. Interest on the Securities shall be computed on the basis of a
360-day year composed of twelve 30-day months. 
 The interest installment on any Security that is payable, and is punctually paid or duly
provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such
interest installment. In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such
Interest Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03. 
 Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable
to the registered holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below: 
 (1) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective
Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of
such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted
Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than
10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment
of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register (as hereinafter defined), not less than 10 days prior to
such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered on such special record date. 
  

 8 

 (2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful
manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment
pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Unless otherwise set forth in a Board
Resolution or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section with respect to a series of Securities
and any Interest Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such
Interest Payment Date is the first day of a month, or the first day of the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day of a
month, whether or not such date is a Business Day. 
 Subject to the foregoing provisions of this Section, each Security of a series
delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 
 Section 2.04 Execution and Authentications. 
 The Securities shall be signed on behalf of the Company by one of its Officers. Signatures may be in the form of a manual or facsimile signature. 
 The Company may use the facsimile signature of any Person who shall have been an Officer, notwithstanding the fact that at the time the Securities shall
be authenticated and delivered or disposed of such Person shall have ceased to be such an officer of the Company. The Securities may contain such notations, legends or endorsements required by law, stock exchange rule or usage. Each Security shall
be dated the date of its authentication by the Trustee. 
 A Security shall not be valid until authenticated manually by an authorized
signatory of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this
Indenture. At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a written order of the Company
for the authentication and delivery of such Securities, signed by an Officer, and the Trustee in accordance with such written order shall authenticate and deliver such Securities. 
 In authenticating such Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be
entitled to receive, and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the form and terms thereof have been established in conformity with the provisions of this Indenture. 
  

 9 

 The Trustee shall not be required to authenticate such Securities if the issue of such Securities
pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 
 Section 2.05 Registration of Transfer and Exchange. 
 (a) Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose, for other Securities of such series of authorized denominations, and
for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall
execute, the Trustee shall authenticate and such office or agency shall deliver in exchange therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not
contemporaneously outstanding. 
 (b) The Company shall keep, or cause to be kept, at its office or agency designated for such
purpose, a register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers of Securities as in this
Article provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of registering Securities and transfer of Securities as herein provided shall be appointed as authorized by Board
Resolution (the “Security Registrar”). 
 Upon surrender for transfer of any Security at the office or agency of the Company
designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for
a like aggregate principal amount. 
 All Securities presented or surrendered for exchange or registration of transfer, as provided in this
Section, shall be accompanied (if so required by the Company or the Security Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered holder or by
such holder’s duly authorized attorney in writing. 
 (c) Except as provided pursuant to Section 2.01 pursuant to a Board
Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental to this Indenture, no service charge shall be made for any exchange or registration of transfer of Securities, or issue of new
Securities in case of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, other than exchanges pursuant to Section 2.06,
Section 3.03(b) and Section 9.04 not involving any transfer. 
  

 10 

 (d) The Company shall not be required (i) to issue, exchange or register the transfer of any
Securities during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities of the same series and ending at the close of business on the day of such
mailing, nor (ii) to register the transfer of or exchange any Securities of any series or portions thereof called for redemption, other than the unredeemed portion of any such Securities being redeemed in part. The provisions of this
Section 2.05 are, with respect to any Global Security, subject to Section 2.11 hereof. 
 Section 2.06 Temporary
Securities. 
 Pending the preparation of definitive Securities of any series, the Company may execute, and the Trustee shall authenticate
and deliver, temporary Securities (printed, lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are issued, but with such
omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee upon the same
conditions and in substantially the same manner, and with like effect, as the definitive Securities of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all
temporary Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company designated for the purpose, and the Trustee shall authenticate and such office or agency shall
deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that definitive Securities need not be executed and furnished until
further notice from the Company. Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered hereunder. 
 Section 2.07 Mutilated, Destroyed, Lost or Stolen Securities. 
 In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company’s request the Trustee
(subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security
so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction,
loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s Security and of the ownership thereof. The Trustee may authenticate any such
substituted Security and deliver the same upon the written request or authorization of any officer of the Company. Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
  

 11 

 In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost
or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and
the Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the
ownership thereof. 
 Every replacement Security issued pursuant to the provisions of this Section shall constitute an additional contractual
obligation of the Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and
all other Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or
stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments
or other securities without their surrender. 
 Section 2.08 Cancellation. 
 All Securities surrendered for the purpose of payment, redemption, exchange or registration of transfer shall, if surrendered to the Company or any paying
agent, be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly required or permitted by any of the provisions of this Indenture.
On request of the Company at the time of such surrender, the Trustee shall deliver to the Company certification of canceled Securities held by the Trustee. In the absence of such request the Trustee may dispose of canceled Securities in accordance
with its standard procedures and deliver a certificate of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness
represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 
 Section 2.09 Benefits of
Indenture. 
 Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other
than the parties hereto and the holders of the Securities any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and
provisions being for the sole benefit of the parties hereto and of the holders of the Securities. 
 Section 2.10 Authenticating
Agent. 
 So long as any of the Securities of any series remain Outstanding there may be an Authenticating Agent for any or all such
series of Securities which the Trustee shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or partial redemption

  

 12 

 
thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if
authenticated by the Trustee hereunder. All references in this Indenture to the authentication of Securities by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be
acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business
to conduct a trust business, and that is otherwise authorized under such laws to conduct such business and is subject to supervision or examination by federal or state authorities. If at any time any Authenticating Agent shall cease to be eligible
in accordance with these provisions, it shall resign immediately. 
 Any Authenticating Agent may at any time resign by giving written notice
of resignation to the Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the
Company. Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its
appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto. 
 Section 2.11 Global Securities. 
 (a) If the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as a Global Security, then the Company shall execute and the Trustee shall, in accordance with
Section 2.04, authenticate and deliver, a Global Security that (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all of the Outstanding Securities of such series, (ii) shall be
registered in the name of the Depositary or its nominee, (iii) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction and (iv) shall bear a legend substantially to the following effect:
“Except as otherwise provided in Section 2.11 of the Indenture, this Security may be transferred, in whole but not in part, only to another nominee of the Depositary or to a successor Depositary or to a nominee of such successor
Depositary.” 
 (b) Notwithstanding the provisions of Section 2.05, the Global Security of a series may be transferred, in
whole but not in part and in the manner provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by the Company or to a nominee of such successor
Depositary. 
 (c) If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to
continue as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series
is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, or if an Event of Default has occurred and is continuing and the Company has received a request from the
Depositary, this Section 2.11 

  

 13 

 
shall no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.04, the Trustee will authenticate
and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such
Global Security. In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the provisions of this Section 2.11 shall no longer apply to the Securities of
such series. In such event the Company will execute and, subject to Section 2.04, the Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the Company, will authenticate and deliver the Securities of such
series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon the exchange of
the Global Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global
Security pursuant to this Section 2.11(c) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The
Trustee shall deliver such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered. 
 ARTICLE 3 
 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS 
 Section 3.01 Redemption. 
 The
Company may redeem the Securities of any series issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section 2.01 hereof. 
 Section 3.02 Notice of Redemption. 
 (a) In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of any series in accordance with any right the Company reserved for itself to do so pursuant to
Section 2.01 hereof, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed by mailing, first class postage prepaid, a notice of such redemption not less than
30 days and not more than 90 days before the date fixed for redemption of that series to such holders at their last addresses as they shall appear upon the Security Register, unless a shorter period is specified in the Securities to be redeemed. Any
notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice to the holder of any Security of any
series designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption of
Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with any
such restriction. 
  

 14 

 Each such notice of redemption shall specify the date fixed for redemption and the redemption price at
which Securities of that series are to be redeemed, and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company, upon presentation and surrender of such Securities, that
interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after said date interest will cease to accrue and that the redemption is for a sinking fund, if such is the case. If less than all the
Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in part shall specify the particular Securities to be so redeemed. 
 In case any Security is to be redeemed in part only, the notice that relates to such Security shall state the portion of the principal amount thereof to
be redeemed, and shall state that on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be issued. 
 (b) If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 45 days’ notice (unless a
shorter notice shall be satisfactory to the Trustee) in advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall select, by lot or in such other manner
as it shall deem appropriate and fair in its discretion and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a
denomination larger than $1,000, the Securities to be redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The Company may, if and whenever it shall so elect, by
delivery of instructions signed on its behalf by an Officer, instruct the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to give notice of redemption in the manner set forth in this
Section, such notice to be in the name of the Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver
or cause to be delivered to, or permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such
paying agent to give any notice by mail that may be required under the provisions of this Section. 
 Section 3.03 Payment Upon
Redemption. 
 (a) If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of
Securities of the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and
interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security
or portion thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed at the applicable redemption 

  

 15 

 
price for such series, together with interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is an interest payment
date, the interest installment payable on such date shall be payable to the registered holder at the close of business on the applicable record date pursuant to Section 2.03). 
 (b) Upon presentation of any Security of such series that is to be redeemed in part only, the Company shall execute and the Trustee shall
authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the same series of authorized denominations in principal amount equal to the unredeemed
portion of the Security so presented. 
 Section 3.04 Sinking Fund. 
 The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise
specified as contemplated by Section 2.01 for Securities of such series. 
 The minimum amount of any sinking fund payment provided for
by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an
“optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied
to the redemption of Securities of any series as provided for by the terms of Securities of such series. 
 Section 3.05 Satisfaction
of Sinking Fund Payments with Securities. 
 The Company (i) may deliver Outstanding Securities of a series and (ii) may apply
as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series, provided
that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption through operation of the sinking fund and
the amount of such sinking fund payment shall be reduced accordingly. 
 Section 3.06 Redemption of Securities for Sinking Fund. 

 Not less than 45 days prior to each sinking fund payment date for any series of Securities (unless a shorter period shall be satisfactory
to the Trustee), the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to be
satisfied by delivering and crediting Securities of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officers’ Certificate, deliver to the Trustee any Securities to be so delivered. Not less
than 30 days before each such sinking fund payment date the Trustee 

  

 16 

 
shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated
in Section 3.03. 
 ARTICLE 4 
 COVENANTS 
 Section 4.01 Payment of Principal, Premium and Interest. 
 The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any) and interest on the Securities of that series at the
time and place and in the manner provided herein and established with respect to such Securities. Payments of principal on the Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check
drawn on and mailed to the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account (such wire transfer to be made only to a Securityholder of an
aggregate principal amount of Securities of the applicable series in excess of U.S. $2,000,000 and only if such Securityholder shall have furnished wire instructions to the Trustee no later than 15 days prior to the relevant payment date). Payments
of interest on the Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check mailed to the address of the Securityholder entitled thereto as such address shall appear in the Security
Register, or U.S. dollar wire transfer to, a U.S. dollar account (such a wire transfer to be made only to a Securityholder of an aggregate principal amount of Securities of the applicable series in excess of U.S. $2,000,000 and only if such
Securityholder shall have furnished wire instructions in writing to the Security Registrar and the Trustee no later than 15 days prior to the relevant payment date. 
 Section 4.02 Maintenance of Office or Agency. 
 So long as any series of the Securities remain
Outstanding, the Company agrees to maintain an office or agency, with respect to each such series, where (i) Securities of that series may be presented for payment, (ii) Securities of that series may be presented as herein above authorized
for registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be given or served, such designation to continue with respect to such office or
agency until the Company shall, by written notice signed by any officer authorized to sign an Officers’ Certificate and delivered to the Trustee, designate some other office or agency for such purposes or any of them. If at any time the Company
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company
hereby appoints the Trustee as its agent to receive all such presentations, notices and demands. The Company initially appoints the Corporate Trust Office of the Trustee as its paying agent with respect to the Securities. 
  

 17 

 Section 4.03 Paying Agents. 
 (a) If the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the Company will cause
each such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section: 
 (1) that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest on the Securities of that series (whether such sums have been paid to it by the
Company or by any other obligor of such Securities) in trust for the benefit of the Persons entitled thereto; 
 (2) that it will
give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any payment of the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable;

 (3) that it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon the
written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and 
 (4) that it will
perform all other duties of paying agent as set forth in this Indenture. 
 (b) If the Company shall act as its own paying agent with
respect to any series of the Securities, it will on or before each due date of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a
sum sufficient to pay such principal (and premium, if any) or interest so becoming due on Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of
such action, or any failure (by it or any other obligor on such Securities) to take such action. Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior to each due date of the principal of (and
premium, if any) or interest on any Securities of that series, deposit with the paying agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of this action or failure so to act. 
 (c) Notwithstanding anything in this Section to the contrary, (i) the agreement to hold sums in trust as provided in this Section is subject
to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee all
sums held in trust by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums were held by the Company or such paying agent; and, upon such payment by the Company or any
paying agent to the Trustee, the Company or such paying agent shall be released from all further liability with respect to such money. 
  

 18 

 Section 4.04 Appointment to Fill Vacancy in Office of Trustee. 
 The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee,
so that there shall at all times be a Trustee hereunder. 
 Section 4.05 Compliance with Consolidation Provisions. 
 The Company will not, while any of the Securities remain Outstanding, consolidate with or merge into any other Person, in either case where the Company is
not the survivor of such transaction, or sell or convey all or substantially all of its property to any other Person unless the provisions of Article Ten hereof are complied with. 
 ARTICLE 5 
 SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND
THE TRUSTEE 
 Section 5.01 Company to Furnish Trustee Names and Addresses of Securityholders. 
 The Company will furnish or cause to be furnished to the Trustee (a) within 15 days after each regular record date (as defined in Section 2.03)
a list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of each series of Securities as of such regular record date, provided that the Company shall not be obligated to furnish or cause to furnish such
list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company and (b) at such other times as the Trustee may request in writing within 30 days after the receipt by the Company
of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that, in either case, no such list need be furnished for any series for which the Trustee shall
be the Security Registrar. 
 Section 5.02 Preservation Of Information; Communications With Securityholders. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the holders of
Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity).

 (b) The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.

 (c) Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders with
respect to their rights under this Indenture or under the Securities, and, in connection with any such communications, the Trustee shall satisfy its obligations under Section 312(b) of the Trust Indenture Act in accordance with the provisions
of Section 312(b) of the Trust Indenture Act. 
  

 19 

 Section 5.03 Reports by the Company. 
 The Company covenants and agrees to provide a copy to the Trustee, after the Company files the same with the Securities and Exchange Commission, copies of
the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Securities and Exchange Commission may from time to time by rules and regulations prescribe) that the Company files
with the Securities and Exchange Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; provided, however, the Company shall not be required to deliver to the Trustee any materials for which the Company has sought and
received confidential treatment by the SEC. 
 Section 5.04 Reports by the Trustee. 
 (a) If required by Section 313(a) of the Trust Indenture Act, the Trustee, within sixty (60) days after each May 1, shall transmit
by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register, a brief report dated as of such May 1, which complies with Section 313(a) of the Trust Indenture Act. 

(b) The Trustee shall comply with Section 313(b) and 313(c) of the Trust Indenture Act. 
 (c) A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company, with each
securities exchange upon which any Securities are listed (if so listed) and also with the Securities and Exchange Commission. The Company agrees to notify the Trustee when any Securities become listed on any securities exchange. 
 ARTICLE 6 
 REMEDIES OF THE TRUSTEE
AND SECURITYHOLDERS ON EVENT OF DEFAULT 
 Section 6.01 Events of Default. 
 (a) Whenever used herein with respect to Securities of a particular series, “Event of Default” means any one or more of the following
events that has occurred and is continuing: 
 (1) the Company defaults in the payment of any installment of interest upon any of the
Securities of that series, as and when the same shall become due and payable, and such default continues for a period of 90 days; provided, however, that a valid extension of an interest payment period by the Company in accordance with the terms of
any indenture supplemental hereto shall not constitute a default in the payment of interest for this purpose; 
  

 20 

 (2) the Company defaults in the payment of the principal of (or premium, if any, on) any of the
Securities of that series as and when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment required by any sinking or analogous fund established with respect to that series;
provided, however, that a valid extension of the maturity of such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of principal or premium, if any; 
 (3) the Company fails to observe or perform any other of its covenants or agreements with respect to that series contained in this Indenture or
otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or agreement that has been expressly included in this Indenture solely for the benefit of one or more series of Securities
other than such series) for a period of 90 days after the date on which written notice of such failure, requiring the same to be remedied and stating that such notice is a “Notice of Default” hereunder, shall have been given to the Company
by the Trustee, by registered or certified mail, or to the Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that series at the time Outstanding; 
 (4) the Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry of
an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property or (iv) makes a general assignment for the benefit of its creditors; or

 (5) a court of competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the Company in
an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days. 
 (b) In each and every such case (other than an Event of Default specified in clause (4) or clause (5) above), unless the principal of
all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to
the Company (and to the Trustee if given by such Securityholders), may declare the principal of (and premium, if any, on) and accrued and unpaid interest on all the Securities of that series to be due and payable immediately, and upon any such
declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in clause (4) or clause (5) above occurs, the principal of and accrued and unpaid interest on all the Securities of that series
shall automatically be immediately due and payable without any declaration or other act on the part of the Trustee or the holders of the Securities. 
 (c) At any time after the principal of (and premium, if any, on) and accrued and unpaid interest on the Securities of that series shall have been so declared due and payable, and before any judgment or decree
for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to the Company and
the Trustee, may rescind and annul such declaration and its consequences if: (i) the Company has 

  

 21 

 
paid or deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of that series and the principal of
(and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any, and, to the extent that such payment is enforceable under applicable
law, upon overdue installments of interest, at the rate per annum expressed in the Securities of that series to the date of such payment or deposit) and the amount payable to the Trustee under Section 7.06, and (ii) any and all Events of
Default under the Indenture with respect to such series, other than the nonpayment of principal on (and premium, if any, on) and accrued and unpaid interest on Securities of that series that shall not have become due by their terms, shall have been
remedied or waived as provided in Section 6.06. 
 No such rescission and annulment shall extend to or shall affect any subsequent
default or impair any right consequent thereon. 
 (d) In case the Trustee shall have proceeded to enforce any right with respect to
Securities of that series under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every
such case, subject to any determination in such proceedings, the Company and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue
as though no such proceedings had been taken. 
 Section 6.02 Collection of Indebtedness and Suits for Enforcement by Trustee. 

 (a) The Company covenants that (i) in case it shall default in the payment of any installment of interest on any of the
Securities of a series, or in any payment required by any sinking or analogous fund established with respect to that series as and when the same shall have become due and payable, and such default shall have continued for a period of 90 days, or
(ii) in case it shall default in the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due and payable, whether upon maturity of the Securities of a series or upon redemption
or upon declaration or otherwise then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have been become due and payable on all such
Securities for principal (and premium, if any) or interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable law) upon
overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable to the
Trustee under Section 7.06. 
 (b) If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its
own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or
final decree, and may enforce any such judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law or equity out of the
property of the Company or other obligor upon the Securities of that series, wherever situated. 
  

 22 

 (c) In case of any receivership, insolvency, liquidation, bankruptcy, reorganization,
readjustment, arrangement, composition or judicial proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings and take any action therein that may be permitted by the court and
shall (except as may be otherwise provided by law) be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of the holders of Securities of such series
allowed for the entire amount due and payable by the Company under the Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date, and to collect and receive
any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction of the amount payable to the Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization
is hereby authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such Securityholders, to pay to the Trustee
any amount due it under Section 7.06. 
 (d) All rights of action and of asserting claims under this Indenture, or under any of
the terms established with respect to Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or
proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due under Section 7.06, be for the ratable
benefit of the holders of the Securities of such series. 
 In case of an Event of Default hereunder, the Trustee may in its discretion
proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or
otherwise, whether for the specific enforcement of any covenant or agreement contained in the Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this
Indenture or by law. 
 Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on
behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect of the claim of any
Securityholder in any such proceeding. 
 Section 6.03 Application of Moneys Collected. 
 Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the following order, at
the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon of the payment, if only
partially paid, and upon surrender thereof if fully paid: 
 FIRST: To the payment of reasonable costs and expenses of collection and of all
amounts payable to the Trustee under Section 7.06; 
  

 23 

 SECOND: To the payment of the amounts then due and unpaid upon Securities of such series for principal
(and premium, if any) and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal (and
premium, if any) and interest, respectively; and 
 THIRD: To the payment of the remainder, if any, to the Company or any other Person
lawfully entitled thereto. 
 Section 6.04 Limitation on Suits. 
 No holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i) such holder previously shall have given to the Trustee written notice
of an Event of Default and of the continuance thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less than 25% in aggregate principal amount of the
Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder; (iii) such holder or holders shall have offered to the Trustee such
indemnity satisfactory to it against the costs, expenses and liabilities to be incurred therein or thereby; (iv) the Trustee for 90 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute any such
action, suit or proceeding and (v) during such 90 day period, the holders of a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent with the request. 
 Notwithstanding anything contained herein to the contrary or any other provisions of this Indenture, the right of any holder of any Security to receive
payment of the principal of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the case of redemption, on the redemption date), or to institute suit for
the enforcement of any such payment on or after such respective dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting a Security hereunder it is expressly understood, intended and covenanted
by the taker and holder of every Security of such series with every other such taker and holder and the Trustee, that no one or more holders of Securities of such series shall have any right in any manner whatsoever by virtue or by availing of any
provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture,
except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such series. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall
be entitled to such relief as can be given either at law or in equity. 
  

 24 

 Section 6.05 Rights and Remedies Cumulative; Delay or Omission Not Waiver. 
 (a) Except as otherwise provided in Section 2.07, all powers and remedies given by this Article to the Trustee or to the Securityholders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or observance
of the covenants and agreements contained in this Indenture or otherwise established with respect to such Securities. 
 (b) No delay
or omission of the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver
of any such default or an acquiescence therein; and, subject to the provisions of Section 6.04, every power and remedy given by this Article or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as
shall be deemed expedient, by the Trustee or by the Securityholders. 
 Section 6.06 Control by Securityholders. 
 The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding, determined in accordance with
Section 8.04, shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such series; provided,
however, that such direction shall not be in conflict with any rule of law or with this Indenture. Subject to the provisions of Section 7.01, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith
shall, by a Responsible Officer or officers of the Trustee, determine that the proceeding so directed, subject to the Trustee’s duties under the Trust Indenture Act, would involve the Trustee in personal liability or might be unduly prejudicial
to the Securityholders not involved in the proceeding. The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance with Section 8.04, may on behalf
of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants contained herein or established pursuant to Section 2.01 with respect to such series and its consequences, except a default
in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and
a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the Trustee (in accordance with Section 6.01(c)). Upon any such waiver, the default covered thereby shall be deemed to be cured
for all purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or
other default or impair any right consequent thereon. 
  

 25 

 Section 6.07 Undertaking to Pay Costs. 
 All parties to this Indenture agree, and each holder of any Securities by such holder’s acceptance thereof shall be deemed to have agreed, that any
court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of
an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of
the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more than 10% in
aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security of such series, on or
after the respective due dates expressed in such Security or established pursuant to this Indenture. 
 ARTICLE 7 
 CONCERNING THE TRUSTEE 
 Section 7.01 Certain Duties and Responsibilities of Trustee. 
 (a) The Trustee, prior to the occurrence of an
Event of Default with respect to the Securities of a series and after the curing of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect to the Securities of such series
such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred
(that has not been cured or waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man
would exercise or use under the circumstances in the conduct of his own affairs. 
 (b) No provision of this Indenture shall be
construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (i) prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing or waiving of all such Events of Default with respect to that series that may have occurred:

 (A) the duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the
express provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and 
  

 26 

 (B) in the absence of bad faith on the part of the Trustee, the Trustee may with respect to the
Securities of such series conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture;
but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the
requirements of this Indenture; 
 (ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible
Officer or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (iii) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the holders of not less than a majority in principal amount of the Securities of
any series at the time Outstanding relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to the
Securities of that series; and 
 (iv) None of the provisions contained in this Indenture shall require the Trustee to expend or risk
its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers if there is reasonable ground for believing that the repayment of such funds or liability is not
reasonably assured to it under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it. 
 Section 7.02 Certain Rights of Trustee. 
 Except as otherwise provided in Section 7.01: 
 (a) The Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, approval, bond, security or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (b) Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Board Resolution or an instrument
signed in the name of the Company by any authorized officer of the Company (unless other evidence in respect thereof is specifically prescribed herein); 
 (c) The Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or
omitted hereunder in good faith and in reliance thereon; 
 (d) The Trustee shall be under no obligation to exercise any of the rights
or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee security or indemnity satisfactory
to it against the costs, expenses and 

  

 27 

 
liabilities that may be incurred therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of
an Event of Default with respect to a series of the Securities (that has not been cured or waived), to exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and to use the same degree of
care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs; 
 (e)
The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (f) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents, unless requested in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities
of the particular series affected thereby (determined as provided in Section 8.04); provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making
of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require indemnity satisfactory to it against such costs, expenses or
liabilities as a condition to so proceeding. The reasonable expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; and 
 (g) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or
attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. 
 In addition, the Trustee shall not be deemed to have knowledge of any Default or Event of Default except (1) any Event of Default occurring pursuant to Sections 6.01(a)(1) and 6.01(a)(2) or (2) any Default
or Event of Default of which the Trustee shall have received written notification in the manner set forth in this Indenture or a Responsible Officer of the Trustee shall have obtained actual knowledge. Delivery of reports, information and documents
to the Trustee under Section 5.03 is for informational purposes only and the information and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein, or determinable from
information contained therein including the Company’s compliance with any of their covenants thereunder (as to which the Trustee is entitled to rely exclusively on an Officers’ Certificate). 
 Section 7.03 Trustee Not Responsible for Recitals or Issuance or Securities. 
 (a) The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no responsibility
for the correctness of the same. 
  

 28 

 (b) The Trustee makes no representations as to the validity or sufficiency of this Indenture or of
the Securities. 
 (c) The Trustee shall not be accountable for the use or application by the Company of any of the Securities or of
the proceeds of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for the use or application of any moneys
received by any paying agent other than the Trustee. 
 Section 7.04 May Hold Securities. 
 The Trustee or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the
same rights it would have if it were not Trustee, paying agent or Security Registrar. 
 Section 7.05 Moneys Held in Trust.

 Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be
held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as
it may agree with the Company to pay thereon. 
 Section 7.06 Compensation and Reimbursement. 
 (a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation (which shall not be
limited by any provision of law in regard to the compensation of a trustee of an express trust) as the Company and the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and
in the exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements
and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not regularly in its employ), except
any such expense, disbursement or advance as may arise from its negligence or bad faith and except as the Company and Trustee may from time to time agree in writing. The Company also covenants to indemnify the Trustee (and its officers, agents,
directors and employees) for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the acceptance or administration of this
trust, including the reasonable costs and expenses of defending itself against any claim of liability in the premises. 
 (b) The
obligations of the Company under this Section to compensate and indemnify the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional
indebtedness shall be secured by a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities. 
  

 29 

 Section 7.07 Reliance on Officers’ Certificate. 
 Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it reasonably
necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of
negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such certificate, in the absence of negligence or bad faith on the part of the
Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof. 
 Section 7.08 Disqualification; Conflicting Interests. 
 If the Trustee has or shall acquire any
“conflicting interest” within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 
 Section 7.09 Corporate Trustee Required; Eligibility. 
 There shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United States of America or any state
or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the Securities and Exchange Commission, authorized under such laws to exercise corporate trust powers, having a combined capital and
surplus of at least fifty million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial, or District of Columbia authority. 
 If such corporation or other Person publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section,
the combined capital and surplus of such corporation or other Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly or
indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in
the manner and with the effect specified in Section 7.10. 
 Section 7.10 Resignation and Removal; Appointment of Successor.

 (a) The Trustee or any successor hereafter appointed may at any time resign with respect to the Securities of one or more series
by giving written notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the Securityholders of such series, as their names and addresses appear upon the Security Register. 

  

 30 

 
Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with respect to Securities of such series by written
instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have
accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee with respect to Securities of such series, or any
Securityholder of that series who has been a bona fide holder of a Security or Securities for at least six months may on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such
court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 
 (b) In case at any
time any one of the following shall occur: 
 (i) the Trustee shall fail to comply with the provisions of Section 7.08 after
written request therefor by the Company or by any Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or 
 (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written request therefor by the Company or by any such Securityholder; or

 (iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary
bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation; 
 then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a
successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any Securityholder who has been a
bona fide holder of a Security or Securities for at least six months may, on behalf of that holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 
 (c) The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such series by so notifying the Trustee and
the Company and may appoint a successor Trustee for such series with the consent of the Company. 
 (d) Any resignation or removal of
the Trustee and appointment of a successor trustee with respect to the Securities of a series pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in
Section 7.11. 
  

 31 

 (e) Any successor trustee appointed pursuant to this Section may be appointed with respect to the
Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series. 
 Section 7.11 Acceptance of Appointment By Successor. 
 (a) In case of the appointment
hereunder of a successor trustee with respect to all Securities, every such successor trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the
request of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall
duly assign, transfer and deliver to such successor trustee all property and money held by such retiring Trustee hereunder. 
 (b) In
case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall
execute and deliver an indenture supplemental hereto wherein each successor trustee shall accept such appointment and which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each
successor trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates, (ii) shall contain such provisions as shall
be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in
the retiring Trustee, and (iii) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that
nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such Trustee and that no Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility for
the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee shall
duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which
the appointment of such successor trustee relates. 
  

 32 

 (c) Upon request of any such successor trustee, the Company shall execute any and all instruments
for more fully and certainly vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 
 (d) No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified and eligible
under this Article. 
 (e) Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall
transmit notice of the succession of such trustee hereunder by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register. If the Company fails to transmit such notice within ten days
after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company. 
 Section 7.12 Merger, Conversion, Consolidation or Succession to Business. 
 Any corporation into
which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to the corporate trust
business of the Trustee, including the administration of the trust created by this Indenture, shall be the successor of the Trustee hereunder, provided that such corporation shall be qualified under the provisions of Section 7.08 and eligible
under the provisions of Section 7.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if
such successor Trustee had itself authenticated such Securities. 
 Section 7.13 Preferential Collection of Claims Against the
Company. 
 The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in
Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein. 
 Section 7.14 Notice of Default 
 If any Default or any Event of Default occurs and is continuing and if such Default or Event of Default is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder in the manner and to the extent provided
in Section 313(c) of the Trust Indenture Act notice of the Default or Event of Default within 45 days after it occurs, unless such Default or Event of Default has been cured; provided, however, that, except in the case of a default in
the payment of the principal of (or premium, if any) or interest on any Security, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or
Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interest of the Securityholders. 
  

 33 

 ARTICLE 8 
 CONCERNING THE SECURITYHOLDERS 
 Section 8.01 Evidence of Action by Securityholders. 

 Whenever in this Indenture it is provided that the holders of a majority or specified percentage in aggregate principal amount of the
Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the holders of
such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in person or by agent or proxy appointed
in writing. 
 If the Company shall solicit from the Securityholders of any series any request, demand, authorization, direction, notice,
consent, waiver or other action, the Company may, at its option, as evidenced by an Officers’ Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be
given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of
Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed
as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later
than six months after the record date. 
 Section 8.02 Proof of Execution by Securityholders. 
 Subject to the provisions of Section 7.01, proof of the execution of any instrument by a Securityholder (such proof will not require notarization) or
his agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner: 
 (a) The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee. 
 (b) The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security Registrar thereof. 
  

 34 

 The Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary.

 Section 8.03 Who May be Deemed Owners. 
 Prior to the due presentment for registration of transfer of any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name such Security shall be
registered upon the books of the Company as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for the
purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any
Security Registrar shall be affected by any notice to the contrary. 
 Section 8.04 Certain Securities Owned by Company Disregarded.

 In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in
any direction, consent or waiver under this Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly or indirectly controlling or controlled by or under
common control with the Company or any other obligor on the Securities of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee
shall be protected in relying on any such direction, consent or waiver, only Securities of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be regarded
as Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly
controlling or controlled by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the
Trustee. 
 Section 8.05 Actions Binding on Future Securityholders. 
 At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of the
majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of that series that is shown by the evidence to be included in the
Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Security. Except as aforesaid any
such action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer thereof or in
place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified
in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities of that series. 
  

 35 

 ARTICLE 9 
 SUPPLEMENTAL INDENTURES 
 Section 9.01 Supplemental Indentures Without the Consent of
Securityholders. 
 In addition to any supplemental indenture otherwise authorized by this Indenture, the Company and the Trustee may from
time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders, for one or more of the following
purposes: 
 (a) to cure any ambiguity, defect, or inconsistency herein or in the Securities of any series; 
 (b) to comply with Article Ten; 
 (c) to provide for uncertificated Securities in addition to or in place of certificated Securities; 
 (d) to add to
the covenants, restrictions, conditions or provisions relating to the Company for the benefit of the holders of all or any series of Securities (and if such covenants, restrictions, conditions or provisions are to be for the benefit of less than all
series of Securities, stating that such covenants, restrictions, conditions or provisions are expressly being included solely for the benefit of such series), to make the occurrence, or the occurrence and the continuance, of a default in any such
additional covenants, restrictions, conditions or provisions an Event of Default, or to surrender any right or power herein conferred upon the Company; 
 (e) to add to, delete from, or revise the conditions, limitations, and restrictions on the authorized amount, terms, or purposes of issue, authentication, and delivery of Securities, as herein set forth;

 (f) to make any change that does not adversely affect the rights of any Securityholder in any material respect; 
 (g) to provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided in
Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the holders of any series of Securities; 
 (h) to evidence and provide for the acceptance of appointment hereunder by a successor trustee; or 
  

 36 

 (i) to comply with any requirements of the Securities and Exchange Commission or any successor in
connection with the qualification of this Indenture under the Trust Indenture Act. 
 The Trustee is hereby authorized to join with the
Company in the execution of any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that
affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Any supplemental indenture authorized by
the provisions of this Section may be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02. 
 Section 9.02 Supplemental Indentures With Consent of Securityholders. 
 With the consent (evidenced as provided in Section 8.01) of the holders of not less than a majority in aggregate principal amount of the Securities
of each series affected by such supplemental indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any
supplemental indenture or of modifying in any manner not covered by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent
of the holders of each Security then Outstanding and affected thereby, (a) extend the fixed maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon,
or reduce any premium payable upon the redemption thereof or (b) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such supplemental indenture. 
 It shall not be necessary for the consent of the Securityholders of any series affected thereby under this Section to approve the particular form of any
proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 
 Section 9.03
Effect of Supplemental Indentures. 
 Upon the execution of any supplemental indenture pursuant to the provisions of this Article or of
Section 10.01, this Indenture shall, with respect to such series, be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of
the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of
any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 
  

 37 

 Section 9.04 Securities Affected by Supplemental Indentures. 
 Securities of any series affected by a supplemental indenture, authenticated and delivered after the execution of such supplemental indenture pursuant to
the provisions of this Article or of Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange upon which such series may be listed, as to any matter provided for in
such supplemental indenture. If the Company shall so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may
be prepared by the Company, authenticated by the Trustee and delivered in exchange for the Securities of that series then Outstanding. 
 Section 9.05 Execution of Supplemental Indentures. 
 Upon the request of the Company, accompanied by its Board
Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the
execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to
enter into such supplemental indenture. The Trustee, subject to the provisions of Section 7.01, may receive an Officers’ Certificate or an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this
Article is authorized or permitted by, and conforms to, the terms of this Article and that it is proper for the Trustee under the provisions of this Article to join in the execution thereof; provided, however, that such Officers’ Certificate or
Opinion of Counsel need not be provided in connection with the execution of a supplemental indenture that establishes the terms of a series of Securities pursuant to Section 2.01 hereof. 
 Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Trustee shall
transmit by mail, first class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series affected thereby as their names and addresses appear upon the Security
Register. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 
 ARTICLE 10 
 SUCCESSOR ENTITY 
 Section 10.01 Company May Consolidate, Etc. 
 Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental to this Indenture, nothing
contained in this Indenture shall prevent any consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor or
successors shall 

  

 38 

 
be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property of the Company or its successor or successors as
an entirety, or substantially as an entirety, to any other corporation (whether or not affiliated with the Company or its successor or successors) authorized to acquire and operate the same; provided, however, (a) the Company hereby covenants
and agrees that, upon any such consolidation or merger (in each case, if the Company is not the survivor of such transaction), sale, conveyance, transfer or other disposition, the due and punctual payment of the principal of (premium, if any) and
interest on all of the Securities of all series in accordance with the terms of each series, according to their tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect to each
series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall be expressly assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then
in effect) and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity which shall have acquired such property and (b) in the event that the Securities of any
series then Outstanding are convertible into or exchangeable for shares of common stock or other securities of the Company, such entity shall, by such supplemental indenture, make provision so that the Securityholders of Securities of that series
shall thereafter be entitled to receive upon conversion or exchange of such Securities the number of securities or property to which a holder of the number of shares of common stock or other securities of the Company deliverable upon conversion or
exchange of those Securities would have been entitled had such conversion or exchange occurred immediately prior to such consolidation, merger, sale, conveyance, transfer or other disposition. 
 Section 10.02 Successor Entity Substituted. 
 (a) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor entity by supplemental indenture, executed and delivered to the Trustee
and satisfactory in form to the Trustee, of the obligations set forth under Section 10.01 on all of the Securities of all series Outstanding, such successor entity shall succeed to and be substituted for the Company with the same effect as if
it had been named as the Company herein, and thereupon the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 (b) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition, such changes in phraseology and form (but not in
substance) may be made in the Securities thereafter to be issued as may be appropriate. 
 (c) Nothing contained in this Article shall
require any action by the Company in the case of a consolidation or merger of any Person into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise, of all or any part of the
property of any other Person (whether or not affiliated with the Company). 
 Section 10.03 Evidence of Consolidation, Etc. to
Trustee. 
 The Trustee shall receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any such
consolidation, merger, sale, conveyance, transfer or other disposition, and any such assumption, comply with the provisions of this Article. 
  

 39 

 ARTICLE 11 
 SATISFACTION AND DISCHARGE 
 Section 11.01 Satisfaction and Discharge of Indenture.

 If at any time: (a) the Company shall have delivered to the Trustee for cancellation all Securities of a series theretofore
authenticated and not delivered to the Trustee for cancellation (other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07 and Securities for whose payment
money or Governmental Obligations have theretofore been deposited in trust or segregated and held in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such
Securities of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof,
sufficient in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore
delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid
all other sums payable hereunder with respect to such series by the Company then this Indenture shall thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and
7.10, that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the
Company shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series. 
 Section 11.02 Discharge of Obligations. 
 If at any time all such Securities of a particular series not heretofore
delivered to the Trustee for cancellation or that have not become due and payable as described in Section 11.01 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental
Obligations sufficient to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of
maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental
Obligations, as the case may be, are deposited with the Trustee the obligations of the Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02,
4,03, 7.06, 7.10 and 11.05 hereof that shall survive until such Securities shall mature and be paid. 
  

 40 

 Thereafter, Sections 7.06 and 11.05 shall survive. 
 Section 11.03 Deposited Moneys to be Held in Trust. 
 All moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment as due, either directly or through any paying agent
(including the Company acting as its own paying agent), to the holders of the particular series of Securities for the payment or redemption of which such moneys or Governmental Obligations have been deposited with the Trustee. 
 Section 11.04 Payment of Moneys Held by Paying Agents. 
 In connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall, upon demand of the Company, be
paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys or Governmental Obligations. 
 Section 11.05 Repayment to Company. 
 Any moneys or Governmental Obligations deposited with any
paying agent or the Trustee, or then held by the Company, in trust for payment of principal of or premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for
at least two years after the date upon which the principal of (and premium, if any) or interest on such Securities shall have respectively become due and payable, or such other shorter period set forth in applicable escheat or abandoned or unclaimed
property law, shall be repaid to the Company on May 31 of each year or upon the Company’s request or (if then held by the Company) shall be discharged from such trust; and thereupon the paying agent and the Trustee shall be released from
all further liability with respect to such moneys or Governmental Obligations, and the holder of any of the Securities entitled to receive such payment shall thereafter, as a general creditor, look only to the Company for the payment thereof.

 ARTICLE 12 
 IMMUNITY
OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 
 Section 12.01 No Recourse. 
 No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in
respect thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either directly or through the Company or any such predecessor
or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are
solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred 

  

 41 

 
by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or any of them, because of
the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and that any and all such personal liability of every
name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness
hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration
for, the execution of this Indenture and the issuance of such Securities. 
 ARTICLE 13 
 MISCELLANEOUS PROVISIONS 
 Section 13.01 Effect on Successors and Assigns. 
 All the covenants, stipulations, promises and agreements in this
Indenture made by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not. 
 Section 13.02
Actions by Successor. 
 Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any
board, committee or officer of the Company shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company. 

Section 13.03 Surrender of Company Powers. 
 The Company by instrument in writing executed by authority of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such power so surrendered shall
terminate both as to the Company and as to any successor corporation. 
 Section 13.04 Notices. 
 Except as otherwise expressly provided herein, any notice, request or demand that by any provision of this Indenture is required or permitted to be given,
made or served by the Trustee or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or served by being deposited in first class mail, postage prepaid, addressed (until another address is
filed in writing by the Company with the Trustee), as follows:
                                        
        . Any notice, election, request or demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall be deemed to have been sufficiently
given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the Trustee. 
  

 42 

 Section 13.05 Governing Law. 
 This Indenture and each Security shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be
construed in accordance with the laws of said State, except to the extent that the Trust Indenture Act is applicable. 
 Section 13.06 Treatment of Securities as Debt. 
 It is intended that the Securities will be treated as indebtedness and
not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted to further this intention. 
 Section 13.07 Certificates and Opinions as to Conditions Precedent. 
 (a) Upon any application or demand by the
Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent provided for in this Indenture (other than the
certificate to be delivered pursuant to Section 13.12) relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied with, except
that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need
be furnished. 
 (b) Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to
compliance with a condition or covenant in this Indenture shall include (i) a statement that the Person making such certificate or opinion has read such covenant or condition; (ii) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (iii) a statement that, in the opinion of such Person, he has made such examination or investigation as is reasonably
necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been
complied with. 
 Section 13.08 Payments on Business Days. 
 Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or
more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or principal (and
premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date. 
  

 43 

 Section 13.09 Conflict with Trust Indenture Act. 
 If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the
Trust Indenture Act, such imposed duties shall control. 
 Section 13.10 Counterparts. 
 This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one
and the same instrument. 
 Section 13.11 Separability. 
 In case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such invalid or
illegal or unenforceable provision had never been contained herein or therein. 
 Section 13.12 Compliance Certificates.

 The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year during which any Securities of any series
were outstanding, an officer’s certificate stating whether or not the signers know of any Default or Event of Default that occurred during such fiscal year. Such certificate shall contain a certification from the principal executive officer,
principal financial officer or principal accounting officer of the Company that a review has been conducted of the activities of the Company and the Company’s performance under this Indenture and that the Company has complied with all
conditions and covenants under this Indenture. For purposes of this Section 13.12, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. If the officer of the Company
signing such certificate has knowledge of such a Default or Event of Default, the certificate shall describe any such Default or Event of Default and its status. 
  

 44 

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

			
	NUVELO, INC.
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	WELLS FARGO BANK, N.A., as Trustee
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 45 

 CROSS-REFERENCE TABLE (1) 
  

					
	 Section of Trust Indenture Act Of 1939, as Amended

	 	 Section of Indenture
	 	 
	310(a)	 	7.09	 	
	310(b)	 	7.08	 	
		 	7.10	 	
	310(c)	 	Inapplicable	 	
	311(a)	 	7.13	 	
	311(b)	 	7.13	 	
	311(c)	 	Inapplicable	 	
	312(a)	 	5.01	 	
		 	5.02(a)	 	
	312(b)	 	5.02(c)	 	
	312(c)	 	5.02(c)	 	
	313(a)	 	5.04(a)	 	
	313(b)	 	5.04(b)	 	
	313(c)	 	5.04(a)	 	
		 	5.04(b)	 	
	313(d)	 	5.04(c)	 	
	314(a)	 	5.03	 	
		 	13.12	 	
	314(b)	 	Inapplicable	 	
	314(c)	 	13.07(a)	 	
	314(d)	 	Inapplicable	 	
	314(e)	 	13.07(b)	 	
	314(f)	 	Inapplicable	 	
	315(a)	 	7.01(a)	 	
		 	7.01(b)	 	
	315(b)	 	7.14	 	
	315(c)	 	7.01	 	
	315(d)	 	7.01(b)	 	
	315(e)	 	6.07	 	
	316(a)	 	6.06	 	
		 	8.04	 	
	316(b)	 	6.04	 	
	316(c)	 	8.01	 	
	317(a)	 	6.02	 	
	317(b)	 	4.03	 	
	318(a)	 	13.09	 	

	(1)	This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.

  

 46

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}]]