Document:

EX-4.3

 Exhibit 4.3 

VARIAN MEDICAL SYSTEMS, INC. 
 TO

 [TRUSTEE] 
 AS TRUSTEE 

INDENTURE 
 DATED AS OF
                , 20     
 SUBORDINATED
DEBT SECURITIES 

 TABLE OF CONTENTS 

 

							
	Clause	  	 	  	Page	 
	 ARTICLE 1 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	 
	 Section 1.1
	  	Definitions	  	 	1	 
	 Section 1.2
	  	Compliance Certificates and Opinions	  	 	10	 
	 Section 1.3
	  	Form of Documents Delivered to Trustee	  	 	11	 
	 Section 1.4
	  	Acts of Holders; Record Dates	  	 	11	 
	 Section 1.5
	  	Notices, etc., to Trustee and Company	  	 	13	 
	 Section 1.6
	  	Notice to Holders; Waiver	  	 	14	 
	 Section 1.7
	  	Conflict with Trust Indenture Act	  	 	15	 
	 Section 1.8
	  	Effect of Headings and Table of Contents	  	 	15	 
	 Section 1.9
	  	Successors and Assigns	  	 	15	 
	 Section 1.10
	  	Separability Clause	  	 	15	 
	 Section 1.11
	  	Benefits of Indenture	  	 	15	 
	 Section 1.12
	  	Governing Law	  	 	15	 
	 Section 1.13
	  	Legal Holidays	  	 	15	 
	 Section 1.14
	  	Indenture and Securities Solely Corporate Obligations	  	 	16	 
	 Section 1.15
	  	Indenture May be Executed in Counterparts	  	 	16	 
	 Section 1.16
	  	Force Majeure	  	 	16	 
	 ARTICLE 2 SECURITY FORMS
	  	 	16	 
	 Section 2.1
	  	Forms Generally	  	 	16	 
	 Section 2.2
	  	Form of Face of Security	  	 	17	 
	 Section 2.3
	  	Form of Reverse of Security	  	 	19	 
	 Section 2.4
	  	Form of Legend for Global Securities	  	 	22	 
	 Section 2.5
	  	Form of Trustee’s Certificate of Authentication	  	 	23	 
	 Section 2.6
	  	Form of Conversion Notice	  	 	23	 
	 ARTICLE 3 THE SECURITIES
	  	 	23	 
	 Section 3.1
	  	Amount Unlimited; Issuable in Series	  	 	23	 
	 Section 3.2
	  	Denominations	  	 	26	 
	 Section 3.3
	  	Execution, Authentication, Delivery and Dating	  	 	26	 
	 Section 3.4
	  	Temporary Securities	  	 	28	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	Clause	  	 	  	Page	 
	 Section 3.5
	  	Registration; Registration of Transfer and Exchange	  	 	28	 
	 Section 3.6
	  	Mutilated, Destroyed, Lost and Stolen Securities	  	 	30	 
	 Section 3.7
	  	Payment of Interest; Interest Rights Preserved	  	 	31	 
	 Section 3.8
	  	Persons Deemed Owners	  	 	32	 
	 Section 3.9
	  	Cancellation	  	 	32	 
	 Section 3.10
	  	Computation of Interest	  	 	33	 
	 ARTICLE 4 SATISFACTION AND DISCHARGE
	  	 	33	 
	 Section 4.1
	  	Satisfaction and Discharge of Indenture	  	 	33	 
	 Section 4.2
	  	Application of Trust Money	  	 	34	 
	 ARTICLE 5 REMEDIES
	  	 	34	 
	 Section 5.1
	  	Events of Default	  	 	34	 
	 Section 5.2
	  	Acceleration of Maturity; Rescission and Annulment	  	 	36	 
	 Section 5.3
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	38	 
	 Section 5.4
	  	Trustee May File Proofs of Claim	  	 	38	 
	 Section 5.5
	  	Trustee May Enforce Claims Without Possession of Securities	  	 	39	 
	 Section 5.6
	  	Application of Money Collected	  	 	39	 
	 Section 5.7
	  	Limitation on Suits	  	 	39	 
	 Section 5.8
	  	Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert	  	 	40	 
	 Section 5.9
	  	Restoration of Rights and Remedies	  	 	40	 
	 Section 5.10
	  	Rights and Remedies Cumulative	  	 	40	 
	 Section 5.11
	  	Delay or Omission Not Waiver	  	 	41	 
	 Section 5.12
	  	Control by Holders	  	 	41	 
	 Section 5.13
	  	Waiver of Past Defaults	  	 	41	 
	 Section 5.14
	  	Undertaking for Costs	  	 	42	 
	 Section 5.15
	  	Waiver of Usury, Stay or Extension Laws	  	 	42	 
	 ARTICLE 6 THE TRUSTEE
	  	 	42	 
	 Section 6.1
	  	Certain Duties and Responsibilities	  	 	42	 
	 Section 6.2
	  	Notice of Defaults	  	 	43	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	Clause	  	 	  	Page	 
	 Section 6.3
	  	Certain Rights of Trustee	  	 	44	 
	 Section 6.4
	  	Not Responsible for Recitals or Issuance of Securities	  	 	45	 
	 Section 6.5
	  	May Hold Securities and Act as Trustee under Other Indentures	  	 	45	 
	 Section 6.6
	  	Money Held in Trust	  	 	46	 
	 Section 6.7
	  	Compensation and Reimbursement	  	 	46	 
	 Section 6.8
	  	Conflicting Interests	  	 	46	 
	 Section 6.9
	  	Corporate Trustee Required; Eligibility	  	 	47	 
	 Section 6.10
	  	Resignation and Removal; Appointment of Successor	  	 	47	 
	 Section 6.11
	  	Acceptance of Appointment by Successor	  	 	48	 
	 Section 6.12
	  	Merger, Conversion, Consolidation or Succession to Business	  	 	49	 
	 Section 6.13
	  	Preferential Collection of Claims Against Company	  	 	50	 
	 Section 6.14
	  	Appointment of Authenticating Agent	  	 	50	 
	 ARTICLE 7 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	 	51	 
	 Section 7.1
	  	Company to Furnish Trustee Names and Addresses of Holders	  	 	51	 
	 Section 7.2
	  	Preservation of Information; Communications to Holders	  	 	52	 
	 Section 7.3
	  	Reports by Trustee	  	 	52	 
	 Section 7.4
	  	Reports by Company	  	 	52	 
	 ARTICLE 8 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	  	 	52	 
	 Section 8.1
	  	Company May Consolidate, etc., Only on Certain Terms	  	 	52	 
	 Section 8.2
	  	Successor Substituted	  	 	53	 
	 ARTICLE 9 SUPPLEMENTAL INDENTURES
	  	 	54	 
	 Section 9.1
	  	Supplemental Indentures Without Consent of Holders	  	 	54	 
	 Section 9.2
	  	Supplemental Indentures with Consent of Holders	  	 	55	 
	 Section 9.3
	  	Execution of Supplemental Indentures	  	 	56	 
	 Section 9.4
	  	Effect of Supplemental Indentures	  	 	57	 
	 Section 9.5
	  	Conformity with Trust Indenture Act	  	 	57	 
	 Section 9.6
	  	Reference in Securities to Supplemental Indentures	  	 	57	 
	 Section 9.7
	  	Subordination Unimpaired.	  	 	57	 

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	Clause	  	 	  	Page	 
	 ARTICLE 10 COVENANTS
	  	 	57	 
	 Section 10.1
	  	Payment of Principal, Premium and Interest	  	 	57	 
	 Section 10.2
	  	Maintenance of Office or Agency	  	 	57	 
	 Section 10.3
	  	Money for Securities Payments to be Held in Trust	  	 	58	 
	 Section 10.4
	  	Statement by Officers as to Default	  	 	59	 
	 Section 10.5
	  	Existence	  	 	59	 
	 Section 10.6
	  	Maintenance of Properties	  	 	59	 
	 Section 10.7
	  	Payment of Taxes and Other Claims	  	 	59	 
	 Section 10.8
	  	Waiver of Certain Covenants	  	 	60	 
	 ARTICLE 11 REDEMPTION OF SECURITIES
	  	 	60	 
	 Section 11.1
	  	Applicability of Article	  	 	60	 
	 Section 11.2
	  	Election to Redeem; Notice to Trustee	  	 	60	 
	 Section 11.3
	  	Selection by Trustee of Securities to Be Redeemed	  	 	61	 
	 Section 11.4
	  	Notice of Redemption	  	 	61	 
	 Section 11.5
	  	Deposit of Redemption Price	  	 	62	 
	 Section 11.6
	  	Securities Payable on Redemption Date	  	 	63	 
	 Section 11.7
	  	Securities Redeemed in Part	  	 	63	 
	 ARTICLE 12 SINKING FUNDS
	  	 	63	 
	 Section 12.1
	  	Applicability of Article	  	 	63	 
	 Section 12.2
	  	Satisfaction of Sinking Fund Payments with Securities	  	 	64	 
	 Section 12.3
	  	Redemption of Securities for Sinking Fund	  	 	64	 
	 ARTICLE 13 DEFEASANCE AND COVENANT DEFEASANCE
	  	 	64	 
	 Section 13.1
	  	Company’s Option to Effect Defeasance or Covenant Defeasance	  	 	64	 
	 Section 13.2
	  	Defeasance and Discharge	  	 	64	 
	 Section 13.3
	  	Covenant Defeasance	  	 	65	 
	 Section 13.4
	  	Conditions to Defeasance or Covenant Defeasance	  	 	66	 
	 Section 13.5
	  	Deposited Money, U.S. Government Obligations and Foreign Government Obligations to be Held in Trust; Miscellaneous Provisions	  	 	68	 
	 Section 13.6
	  	Reinstatement	  	 	69	 

  
 -iv- 

 TABLE OF CONTENTS 

(continued) 
  

							
	Clause	  	 	  	Page	 
	 ARTICLE 14 CONVERSION OF SECURITIES
	  	 	69	 
	 Section 14.1
	  	Applicability of Article	  	 	69	 
	 ARTICLE 15 SUBORDINATION OF SECURITIES
	  	 	69	 
	 Section 15.1
	  	Agreement of Subordination	  	 	69	 
	 Section 15.2
	  	Payments to Holders	  	 	70	 
	 Section 15.3
	  	Subrogation of Securities	  	 	72	 
	 Section 15.4
	  	Authorization to Effect Subordination	  	 	73	 
	 Section 15.5
	  	Notice to Trustee	  	 	74	 
	 Section 15.6
	  	Trustee’s Relation to Senior Debt	  	 	74	 
	 Section 15.7
	  	No Impairment of Subordination	  	 	75	 
	 Section 15.8
	  	Certain Conversions/Exchanges Deemed Payment	  	 	75	 
	 Section 15.9
	  	Article Applicable to Paying Agents	  	 	75	 
	 Section 15.10
	  	Senior Debt Entitled to Rely	  	 	76	 
	 Section 15.11
	  	Reliance on Judicial Order or Certificate of Liquidating Agent	  	 	76	 
	 Section 15.12
	  	Trust Monies Not Subordinated	  	 	76	 

  
 -v- 

 Varian Medical Systems, Inc. 

Certain Sections of this Indenture relating to Sections 3.10 through 3.18, inclusive, of the Trust Indenture Act of 1939: 

 

							
	 Section 310
	  	(a)(1)	  	 	6.9	 
		  	(a)(2)	  	 	6.9	 
		  	(a)(3)	  	 	Not Applicable	 
		  	(a)(4)	  	 	Not Applicable	 
		  	(b)	  	 	6.8, 6.10	 
	 Section 311
	  	(a)	  	 	6.13	 
		  	(b)	  	 	6.13	 
	 Section 312
	  	(a)	  	 	7.1, 7.2	 
		  	(b)	  	 	7.2	 
		  	(c)	  	 	7.2	 
	 Section 313
	  	(a)	  	 	7.3	 
		  	(b)	  	 	7.3	 
		  	(c)	  	 	7.3	 
		  	(d)	  	 	7.3	 
	 Section 314
	  	(a)	  	 	7.4	 
		  	(a)(4)	  	 	1.1, 10.4	 
		  	(b)	  	 	Not Applicable	 
		  	(c)(1)	  	 	1.2	 
		  	(c)(2)	  	 	1.2	 
		  	(c)(3)	  	 	Not Applicable	 
		  	(d)	  	 	Not Applicable	 
		  	(e)	  	 	1.2	 
	 Section 315
	  	(a)	  	 	6.1	 
		  	(b)	  	 	6.2	 
		  	(c)	  	 	6.1	 
		  	(d)	  	 	6.1	 
		  	(e)	  	 	5.14	 
	 Section 316
	  	(a)	  	 	1.1	 
		  	(a)(1)(A)	  	 	5.2, 5.12	 
		  	(a)(1)(B)	  	 	5.13	 
		  	(a)(2)	  	 	Not Applicable	 
		  	(b)	  	 	5.8	 
		  	(c)	  	 	1.4	 
	 Section 317
	  	(a)(1)	  	 	5.3	 
		  	(a)(2)	  	 	5.4	 
		  	(b)	  	 	10.3	 
	 Section 318
	  	(a)	  	 	1.7	 

 NOTE: This reconciliation and tie shall not, for any purpose, be deemed to be a part of the Indenture. 

 INDENTURE, dated as of
                , 20    , between Varian Medical Systems, Inc., a corporation duly organized and existing under the laws of the State of Delaware
(herein called the “Company”), having its principal executive office at 3100 Hansen Way, Palo Alto, California 94304-1030, and [Trustee], as Trustee (herein called the “Trustee”). 

RECITALS OF THE COMPANY 

The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured
subordinated debentures, notes or other evidences of indebtedness (herein called the “Securities”), to be issued in one or more series as provided in this Indenture. 

All things necessary to make this Indenture a valid and binding agreement of the Company, in accordance with its terms, have been done. 

This Indenture is subject to, and will be governed by, the provisions of the Trust Indenture Act that are required to be a part of and govern
indentures qualified under the Trust Indenture Act. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for
the equal and proportionate benefit of all Holders of the Securities or of series thereof appertaining, as follows: 
 ARTICLE 1 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

Section 1.1 Definitions. 

For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

(1) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the
singular; 
 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference
therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the
meanings assigned to them in accordance with generally accepted accounting principles in the United States of America, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to
any computation required or permitted hereunder shall mean such accounting principles in the United States of America as are generally accepted at the date of such computation; 

 (4) all references to “$” refer to the lawful currency of the
United States of America; 
 (5) unless the context otherwise requires, any reference to an “Article” or a
“Section” refers to an Article or a Section, as the case may be, of this Indenture; and 
 (6) the words
“herein,” “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 

“Act,” when used with respect to any Holder, has the meaning specified in Section 1.4. 

“Additional Interest” has the meaning specified in Section 5.2(b). 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. 
 “Authenticating Agent” means any Person authorized by the Trustee pursuant
to Section 6.14 to act on behalf of the Trustee to authenticate Securities of one or more series. 
 “Board of Directors”
means either the board of directors of the Company or any duly authorized committee of that board empowered to act for it with respect to this Indenture. 

“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, and delivered to the Trustee. 

“Business Day,” when used with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday which is
not a day on which banking institutions in that Place of Payment are authorized or obligated by law or executive order to close. 

“Commission” means the Securities and Exchange Commission, from time to time constituted, created under the Exchange Act, or, if at
any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

“Common Stock” includes any stock of any class of the Company which has no preference in respect of dividends or of amounts payable
in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the Company and which is not subject to redemption by the Company; provided, however, subject to the provisions of Section 14.9, shares
issuable upon conversion of Securities shall include only shares of the class designated as Common Stock of the Company at the date of this Indenture or shares of any class or classes resulting from any reclassification or reclassifications thereof
and which have no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding-up of the Company and which are not subject to redemption by the Company; provided,
further, that if at any time there shall be more than one such resulting 

  
 2 

 
class, the shares of each such class then so issuable shall be substantially in the proportion which the total number of shares of such class resulting from all such reclassifications bears to
the total number of shares of all such classes resulting from all such reclassifications. 
 “Company” means the corporation named
as the “Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Request” or “Company Order” means a written request or order signed by any two of the following in the name of
the Company: the Chairman of the Board, the Vice Chairman of the Board, the Chief Executive Officer, the President or any executive officer, the principal financial officer, the principal accounting officer, the Treasurer, an Assistant Treasurer,
the Secretary or an Assistant Secretary of the Company, and delivered to the Trustee. 
 “Constituent Person” has the meaning
specified in Section 14.9. 
 “control” when used with respect to any specified Person means the power to direct the
management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the
foregoing. 
 “Corporate Trust Office” means the corporate trust office of the Trustee at
            , Attention: Corporate Trust Department, or such other office, designated by the Trustee by written notice to the Company, at which at any particular time its corporate trust
business shall be administered. 
 “corporation” means a corporation, association, company, joint-stock company or business trust.

 “Covenant Defeasance” has the meaning specified in Section 13.3. 

“Defaulted Interest” has the meaning specified in Section 3.7. 

“Defeasance” has the meaning specified in Section 13.2. 

“Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global
Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 3.1. 

“Designated Senior Debt” means the Company’s obligations under any particular Senior Debt in which the instrument creating or
evidencing the same or the assumption or guarantee thereof (or related agreements or documents to which the Company is a party) expressly provides that such Senior Debt shall be “Designated Senior Debt” for purposes of this Indenture
(provided, that such instrument, agreement or other document may place limitations and conditions on the right of such Senior Debt to exercise the rights of Designated Senior Debt). If any payment made to any holder of any Designated Senior
Debt or its Representative with respect to such Designated Senior Debt is rescinded or must otherwise be returned by such holder or Representative upon the insolvency, bankruptcy or reorganization of the Company or

  
 3 

 
otherwise, the reinstated Indebtedness of the Company arising as a result of such rescission or return shall constitute Designated Senior Debt effective as of the date of such rescission or
return. 
 “euro” or “euros” means the currency adopted by those nations participating in the third stage of the
economic and monetary union provisions of the Treaty on European Union, signed at Maastricht on February 7, 1992. 
 “European
Economic Area” means the member nations of the European Economic Area pursuant to the Oporto Agreement on the European Economic Area dated May 2, 1992, as amended. 

“European Union” means the member nations of the European Union established by the Treaty of European Union, signed at Maastricht on
February 7, 1992, which amended the Treaty of Rome establishing the European Community. 
 “Event of Default” has the meaning
specified in Section 5.1. 
 “Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in
each case as amended from time to time. 
 “Expiration Date” has the meaning specified in Section 1.4. 

“Foreign Government Obligation” means with respect to Securities of any series which are not denominated in the currency of the
United States of America (x) any security which is (i) a direct obligation of the government which issued or caused to be issued the currency in which such security is denominated and for the payment of which obligations its full faith and
credit is pledged or, with respect to Securities of any series which are denominated in euros, a direct obligation of any member nation of the European Union for the payment of which obligation the full faith and credit of the respective nation is
pledged so long as such nation has a credit rating at least equal to that of the highest rated member nation of the European Economic Area, or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality
of a government specified in clause (i) above the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the such government, which, in either case (i) or (ii), is not callable or redeemable at the
option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any Foreign Government Obligation which is specified in clause (x) above
and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any Foreign Government Obligation which is so specified and held, provided that (except as
required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Foreign Government Obligation or the specific
payment of principal or interest evidenced by such depositary receipt. 
 “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 held by the Trustee as custodian for the Depositary pursuant to a safekeeping agreement with the Depositary, all in accordance with this Indenture,
which shall be registered in global form without interest coupons in the name of the Depositary or its nominee. 

  
 4 

 “Holder” means a Person in whose name a Security is registered in the Security
Register. 
 “Indebtedness” means, with respect to any Person, and without duplication, whether absolute or contingent, secured or
unsecured, due or to become due, (a) all indebtedness, obligations and other liabilities (contingent or otherwise) of such Person evidenced by a credit or loan agreement, note, bond, debenture, or other written obligation (whether or not the
recourse of the lender is to the whole of the assets of such person or to only a portion thereof) or for money borrowed (including obligations of such Person in respect of overdrafts, foreign exchange contracts, currency exchange agreements,
interest rate protection agreements, and any loans or advances from banks, whether or not evidenced by notes or similar instruments); (b) all obligations and liabilities (contingent or otherwise) of such Person evidenced by a note or similar
instrument given in connection with the acquisition of any businesses, properties or assets of any kind; (c) all obligations and liabilities (contingent or otherwise) in respect of leases of such Person required, in conformity with generally
accepted accounting principles, to be accounted for as capitalized lease obligations on the balance sheet of such Person and all obligations and other liabilities (contingent or otherwise) or as lessee under any leases or related documents for
facilities, capital equipment or related assets, whether or not capitalized, entered into or leased for financing purposes; (d) all obligations of such Person (contingent or otherwise) with respect to interest rate and currency swaps, caps,
floors, collars, hedge agreements, forward contracts or similar agreements or arrangements; (e) all obligations and other liabilities (contingent or otherwise) of such Person with respect to letters of credit, bankers’ acceptances or
similar facilities, including reimbursement obligations with respect to the foregoing; (f) all obligations and liabilities of such Person or assumed as the deferred purchase price of property or services, but excluding trade accounts payable
and accrued liabilities arising in the ordinary course of business; (g) all obligations of the type referred to in (a) through (f) above of another Person the payment of which, in either case, such Person has assumed or guaranteed or
for which such Person is responsible or liable directly or indirectly, jointly or severally, as obligor, guarantor or otherwise, or which are secured by a lien on such Person’s property; and (h) any and all renewals, extensions,
modifications, replacements, restatements and refundings of, or, any indebtedness or obligation issued in exchange for, any such indebtedness or obligation of the kind described in clauses (a) through (g) above. 

“Indenture” means this instrument as originally executed and as it may from time to time be supplemented or amended by one or more
indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of
and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by Section 3.1; provided,
however, that if at any time more than one Person is acting as Trustee under this Indenture due to the appointment of one or more separate Trustees for any one or more separate series of Securities, “Indenture” shall mean, with
respect to such series of Securities for which any such Person is Trustee, 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 pursuant to the
applicable provisions hereof and shall include 

  
 5 

 
the terms of particular series of Securities for which such Person is Trustee established as contemplated by Section 3.1, exclusive, however, of any provisions or terms which relate solely
to other series of Securities for which such Person is not Trustee, regardless of when such terms or provisions were adopted, and exclusive of any provisions or terms adopted by means of one or more indentures supplemental hereto executed and
delivered after such Person had become such Trustee, but to which such person, as such Trustee, was not a party; provided, further that in the event that this Indenture is supplemented or amended by one or more indentures supplemental
hereto which are only applicable to certain series of Securities, the term “Indenture” for a particular series of Securities shall only include the supplemental indentures applicable thereto. 

“interest,” when used with respect to an Original Issue Discount Security, which by its terms bears interest only at Maturity, means
interest payable at Maturity. 
 “Interest Payment Date,” when used with respect to any Security, means the Stated Maturity of an
installment of interest on such Security. 
 “Investment Company Act” means the Investment Company Act of 1940 and any statute
successor thereto, in each case as amended from time to time. 
 “Maturity,” when used with respect to any Security, means the
date on which the principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, repurchase at the option of the Holder, upon
redemption or otherwise. 
 “Non-electing Share” has the meaning specified in Section 14.9. 

“Non-Payment Default” has the meaning specified in Section 15.2. 

“Notice of Default” means a written notice of the kind specified in Section 5.1(4). 

“Officers’ Certificate” means a certificate signed by any two of the following in the name of the Company: the Chairman of the
Board, the Vice Chairman of the Board, the Chief Executive Officer, the President, any executive officer, the principal financial officer, the principal accounting officer, the Treasurer, an Assistant Treasurer, the Secretary or an Assistant
Secretary of the Company, and delivered to the Trustee. One of the officers signing an Officers’ Certificate given pursuant to Section 10.4 shall be the principal executive, principal financial or principal accounting officer of the
Company. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for, or an employee of, the Company. 

“Original Issue Discount Security” means any Security that provides for an amount less than the principal amount thereof to be due
and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2. 
 “Outstanding,” when used
with respect to Securities, means, as of the date of determination, all Securities theretofore authenticated and delivered under this Indenture, except 

  
 6 

 (1) Securities theretofore canceled by the Trustee or delivered to the
Trustee for cancellation; 
 (2) Securities for whose payment or redemption money in the necessary amount has been
theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities; provided
that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 

(3) Securities as to which Defeasance has been effected pursuant to Section 13.2; and 

(4) Securities which have been paid pursuant to Section 3.6 or in exchange for or in lieu of which other Securities have
been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose
hands such Securities are valid obligations of the Company; 
 provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given, made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount
Security which shall be deemed to be Outstanding shall be the amount of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 5.2, (B) if, as of such
date, the principal amount payable at the Stated Maturity of a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by
Section 3.1, (C) the principal amount of a Security denominated in one or more non-U.S. dollar currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the
manner provided as contemplated by Section 3.1, of the principal amount of such Security (or, in the case of a Security described in clause (A) or (B) above, of the amount determined as provided in such clause), and
(D) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall
be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other action, only Securities which the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in
good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the
Securities or any Affiliate of the Company or of such other obligor. 
 “Paying Agent” means any Person authorized by the Company
to pay the principal of or any premium or interest on any Securities on behalf of the Company. 

  
 7 

 “Payment Blockage Notice” has the meaning specified in Section 15.2. 

“Payment Default” has the meaning specified in Section 15.2. 

“Person” means any individual, corporation, limited liability company, partnership, joint venture, trust, unincorporated
organization or government or any agency or political subdivision thereof. 
 “Place of Payment,” when used with respect to the
Securities of any series, means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by Section 3.1. 

“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 3.6 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Prospectus” means the prospectus dated
                , 2010 and any accompanying prospectus relating to the offering of the Securities. 

“Record Date” means any Regular Record Date or Special Record Date. 

“Redemption Date,” when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to
this Indenture. 
 “Redemption Price,” when used with respect to any Security to be redeemed, means the price at which it is to be
redeemed pursuant to this Indenture. 
 “Regular Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as contemplated by Section 3.1. 
 “Reporting Default” has
the meaning specified in Section 5.2(b). 
 “Representative” means the (a) indenture trustee or other trustee, agent or
representative for any Senior Debt or (b) with respect to any Senior Debt that does not have any such trustee, agent or other representative, (i) in the case of such Senior Debt issued pursuant to an agreement providing for voting
arrangements as among the holders or owners of such Senior Debt, any holder or owner of such Senior Debt acting with the consent of the required persons necessary to bind such holders or owners of such Senior Debt and (ii) in the case of all
other such Senior Debt, the holder or owner of such Senior Debt. 
 “Responsible Officer” shall mean, when used with respect to
the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily
performs 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 such person’s knowledge of and familiarity with the particular
subject and who shall have direct responsibility for the administration of this Indenture. 

  
 8 

 “Securities” has the meaning stated in the first recital of this Indenture and
more particularly means any Securities authenticated and delivered under this Indenture. 
 “Securities Act” means the Securities
Act of 1933 and any statute successor thereto, in each case as amended from time to time. 
 “Security Register” and
“Security Registrar” have the respective meanings specified in Section 3.5. 
 “Senior Debt” means the
principal of, premium, if any, interest (including all interest accruing subsequent to the commencement of any bankruptcy or similar proceeding, whether or not a claim for post-petition interest is allowable as a claim in any such proceeding) and
rent payable on or in connection with, and all fees, costs, expenses and other amounts accrued or due on or in connection with, Indebtedness of the Company, whether outstanding on the date of this Indenture or thereafter created, incurred, assumed,
guaranteed or in effect guaranteed by the Company (including all deferrals, renewals, extensions or refundings of, or amendments, modifications or supplements to, the foregoing), unless in the case of any particular Indebtedness the instrument
creating or evidencing the same or the assumption or guarantee thereof expressly provides that such Indebtedness shall not be senior in right of payment to the Securities or expressly provides that such Indebtedness is “pari passu”
or “ junior” to the Securities. Notwithstanding the foregoing, the term Senior Debt shall not include any Indebtedness of the Company to any Subsidiary of the Company. If any payment made to any holder of any Senior Debt or its
Representative with respect to such Senior Debt is rescinded or must otherwise be returned by such holder or Representative upon the insolvency, bankruptcy or reorganization of the Company or otherwise, the reinstated Indebtedness of the Company
arising as a result of such rescission or return shall constitute Senior Debt effective as of the date of such rescission or return. 

“Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.7. 

“Stated Maturity,” when used with respect to any Security or any installment of principal thereof or interest thereon, means the
date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” means a Person of which at least a majority of the outstanding voting stock having the power to elect a majority of the
board of directors of such Person (in the case of a corporation) is, or of which at least a majority of the equity interests (in the case of a Person which is not a corporation) are, at the time owned, directly or indirectly, by the Company or by
one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock or similar interests to the Company which ordinarily has or have voting power for the
election of directors or persons performing similar functions, whether at all times or only so long as no senior class of stock or other interests has or have such voting power by reason of any contingency. 

  
 9 

 “Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the
date as of which this instrument was executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the
Trust Indenture Act of 1939 as so amended. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph
of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at any time
there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 

“U.S. Government Obligation” means (x) any security which is (i) a direct obligation of the United States of America
for the payment of which the full faith and credit of the United States of America is pledged or (ii) an obligation 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, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary
receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any U.S. Government Obligation which is specified in clause (x) above and held by such bank for the account of the holder of
such depositary receipt, or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so specified and held, provided that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest evidenced by such
depositary receipt. 
 “Vice President,” when used with respect to the Company or the Trustee, means any vice president, whether
or not designated by a number or a word or words added before or after the title “vice president.” 
 Section 1.2 Compliance Certificates
and Opinions. 
 Upon any application or request by the Company to the Trustee to take any action under any provision of
this Indenture, the Company shall furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act. Each such certificate or opinion shall be given in the form of an Officers’ Certificate, if to be given by
an officer of the Company, or an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include, 

(1) a statement that each individual signing such certificate or opinion has read such covenant or condition and the
definitions herein relating thereto; 

  
 10 

 (2) 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; 
 (3) a statement
that, in the opinion of each such individual, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 

Section 1.3 Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that
all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know,
that the certificate or opinion or representations with respect to the matters upon which his or her certificate or opinion is based are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual matters,
upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 
 Any such
certificate or opinion of an officer of the Company or of counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion of, or representations by, an accountant or firm of accountants in the employ of the Company,
unless such officer or counsel, as the case may be, knows that the certificate or opinion or representations with respect to the accounting matters upon which his or her certificate or opinion are based are erroneous. Any certificate or opinion of
any independent firm of public accountants filed with the Trustee shall contain a statement that such firm is independent. 
 Where any
Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Section 1.4 Acts of Holders; Record Dates. 

Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given,
made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such 

  
 11 

 
Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are
delivered to the Trustee and, where it is hereby expressly required, to the Company. The Trustee shall promptly deliver to the Company copies of any such instrument or instruments delivered to the Trustee. Such instrument or instruments (and the
action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall
be sufficient for any purpose of this Indenture and (subject to Section 6.1) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 

The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him or her the execution thereof. Where such
execution is by a signer acting in a capacity other than his or her individual capacity, such certificate or affidavit shall also constitute sufficient proof of his or her authority. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 
 The
ownership of Securities shall be proved by the Security Register. 
 Any request, demand, authorization, direction, notice, consent, waiver
or other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done,
omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 

The Company may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to
give, make or take any request, demand, authorization, direction, vote, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Securities of such series, provided that the
Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to in the next paragraph. If any record date is set pursuant
to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders after such record date;
provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this
paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no
action by any Person be canceled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date
such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the
Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 1.6. 

  
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 The Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 5.2, (iii) any request to institute proceedings referred to
in Section 5.7(2) or (iv) any direction referred to in Section 5.12, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of such series on
such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder
unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a
new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be canceled and of no effect), and nothing in
this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant
to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company in writing and to each Holder of Securities of the
relevant series in the manner set forth in Section 1.6. 
 With respect to any record date set pursuant to this Section, the party
hereto which sets such record dates may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such change shall be effective unless notice of
the proposed new Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 1.6, on or prior to the existing Expiration Date. If an Expiration Date
is not designated with respect to any record date set pursuant to this Section, the party hereto which set such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration Date with respect
thereto, subject to its right to change the Expiration Date as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day after the applicable record date. 

Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with
regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any part of such principal amount. 

Section 1.5 Notices, etc., to Trustee and Company. 

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with, 

  
 13 

 (1) the Trustee by any Holder or by the Company shall be sufficient for
every purpose hereunder if made, given, furnished or filed in writing (or by facsimile transmissions, provided that oral confirmation of receipt shall have been received) to or with the Trustee at its Corporate Trust Office, Attention:
Corporate Trust Department, or 
 (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, personally delivered or sent via overnight courier to the Company addressed to it at the address of its principal office specified in the
first paragraph of this instrument or at any other address previously furnished in writing to the Trustee by the Company, Attention: Chief Financial Officer. 

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by the Company by unsecured e-mail, pdf,
facsimile transmission or other similar unsecured electronic methods; provided, however, that the Trustee shall have received an incumbency certificate listing persons designated to give such instructions or directions and containing specimen
signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the listing. If the Company elects to give the Trustee e-mail or facsimile instructions (or
instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s good faith understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for
any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The
Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or
interception and misuse by third parties. 
 Section 1.6 Notice to Holders; Waiver. 

Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid, or delivered by hand or overnight courier, to each Holder affected by such event, at its address as it appears in the Security Register, not later than the latest date (if any), and
not earlier than the earliest date (if any), prescribed for the giving of such notice. Neither the failure to mail or deliver by hand or overnight courier any notice, nor any defect in any notice so mailed or delivered by hand or overnight courier,
to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either
before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon
such waiver. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to
give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

  
 14 

 Section 1.7 Conflict with Trust Indenture Act. 

If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under the Trust Indenture
Act to be a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act, which may be so modified or excluded, the latter provision shall be
deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 
 Section 1.8 Effect of Headings and Table of
Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not
affect the construction hereof. 
 Section 1.9 Successors and Assigns. 

All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 

Section 1.10 Separability Clause. 

In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 1.11 Benefits of
Indenture. 
 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the
parties hereto and their successors hereunder, the holders of Senior Debt and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 1.12 Governing Law. 

THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
 Section 1.13 Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security or the last date on which a Holder has the
right to convert a Security at a particular conversion price or conversion rate, as the case may be, shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a
provision of any Security which specifically states that such provision shall apply in 

  
 15 

 
lieu of this Section)) payment of interest or principal (and premium, if any) or, if applicable to a particular series of Securities, conversion need not be made at such Place of Payment on such
date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, at the Stated Maturity or on such last day for conversion, as the case may
be. 
 Section 1.14 Indenture and Securities Solely Corporate Obligations. 

No recourse for the payment of the principal of or premium, if any, or interest on any Security, or for any claim based thereon or otherwise in
respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in this Indenture or in any supplemental indenture or in any Security, or because of the creation of any indebtedness represented thereby, shall be
had against any incorporator, stockholder, employee, agent, officer, or director or subsidiary, as such, past, present or future, of the Company or of any successor corporation, either directly or through the Company or any 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 all such liability is hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this Indenture and the issue of the Securities. 
 Section 1.15 Indenture May be Executed in
Counterparts. 
 This instrument 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 1.16 Force Majeure. 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of
or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and
interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to
resume performance as soon as practicable under the circumstances. 
 ARTICLE 2 

SECURITY FORMS 
 Section 2.1 Forms
Generally. 
 The Securities of each series shall be in substantially the form set forth in this Article, or in such other
form as shall be established by or pursuant to a Board Resolution and as set forth in such Board Resolution (including such terms as set forth in any form of Securities for each series approved by such Board Resolution) or, to the extent established
pursuant to rather than set forth in a Board Resolution, in an Officers’ Certificate detailing such establishment (including any exhibit attached thereto), or in one or more indentures supplemental hereto, in each case with

  
 16 

 
such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and
such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or Depositary therefor or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by
their execution thereof. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, 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 Company Order contemplated by Section 3.3 for the authentication and delivery of such Securities. Any such Board Resolution or record of such action shall have attached
thereto a true and correct copy of the form of Security referred to therein approved by or pursuant to such Board Resolution. 
 The
definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such Securities. 

Section 2.2 Form of Face of Security. 

[INSERT ANY LEGEND REQUIRED BY THE INTERNAL REVENUE CODE AND THE REGULATIONS THEREUNDER.]  

VARIAN MEDICAL SYSTEMS, INC. 
  

							
	NO.                 	  	 	$	 	 	                     
		  				 	  

		  	 	CUSIP:	 	 	
		  				 	  

 Varian Medical Systems, Inc., a corporation duly organized and existing under the laws of Delaware
(herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                , or registered assigns, the principal sum of                 dollars on
                [if the Security is to bear interest prior to Maturity, insert — , and to pay interest thereon from
                or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on
                and                 in each year, commencing
                , at the rate of     % per annum, until the principal hereof is paid or made available for payment [if applicable, insert
—, provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of         % per annum (to the extent that the payment of such
interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand]. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be
the                 or                 (whether or not a Business Day), as the case may
be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid 

  
 17 

 
to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be
fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture]. 

[If the Security is not to bear interest prior to Maturity, insert — The principal of this Security shall not bear interest
except in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal and any overdue premium shall bear interest at the rate of
            % per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for
payment. Interest on any overdue principal or premium shall be payable on demand. Any such interest on overdue principal or premium which is not paid on demand shall bear interest at the rate of
            % per annum (to the extent that the payment of such interest on interest shall be legally enforceable), from the date of such demand until the amount so demanded is paid or made
available for payment. Interest on any overdue interest shall be payable on demand.] Payment of the principal of (and premium, if any) and [if applicable, insert — any such] interest on this Security will be made at the office or agency
of the Company maintained for that purpose in             , in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and
private debts [if applicable, insert —; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the
Security Register]. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication
hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

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

 

									
	Dated:	 	      
	 		 	VARIAN MEDICAL SYSTEMS, INC.
					
		 		 		 	By:	 	      

					
		 		 		 	Title:	 	      

				
	 ATTEST:
  
	 		 		 	

  
 18 

 Section 2.3 Form of Reverse of Security. 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to
be issued in one or more series under an Indenture, dated as of                 , 200            (herein
called the “Indenture,” which term shall have the meaning assigned to it in such instrument), between the Company and                 , as Trustee (herein
called the “Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture and all indentures supplemental thereto for a statement of the respective rights, limitations of rights,
duties and immunities thereunder of the Company, the Trustee, the holders of Senior Debt and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series
designated on the face hereof [if applicable, insert — , limited in aggregate principal amount to $            ]. 

[If applicable, insert — The Securities of this series are subject to redemption upon not less than [if applicable,
insert — 30] days’ notice by mail, [if applicable, insert — (1) on             in any year commencing with the year
            and ending with the year             through operation of the sinking fund for this series at a Redemption Price
equal to 100% of the principal amount, and (2)] at any time [if applicable, insert — on or after                 ,
20            ], as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal amount): If redeemed [if applicable,
insert — on or before                 ,             %, and if redeemed] during the 12-month period
beginning             of the years indicated,  
  

									
	 Year
	  	 Redemption Price
	  	 Year
	  	                Redemption Price      
          	 
		  		  		  			
		  		  		  			
		  		  		  			

 and thereafter at a Redemption Price equal to     % of the principal amount, together in the case
of any such redemption [if applicable, insert — (whether through operation of the sinking fund or otherwise)] with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption
Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.]  

[If applicable, insert — The Securities of this series are subject to redemption upon not less than [if applicable, insert
— 30] days’ notice by mail, (1) on             in any year commencing with the year             and ending
with the year             through operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of
the principal amount) set forth in the table below, and (2) at any time [if applicable, insert — on or after             ], as a whole or in part, at the election of the
Company, at the Redemption Prices for redemption otherwise than through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month period beginning
            of the years indicated,  
  

					
	 Year
	  	 Redemption Price For

Redemption Through Operation

of the Sinking Fund
	  	 Redemption Price For

Redemption Otherwise Than

Through Operation of the

Sinking Fund

		  		  	
		  		  	
		  		  	

  
 19 

 and thereafter at a Redemption Price equal to
            % of the principal amount, together in the case of any such redemption (whether through operation of the sinking fund or otherwise) with accrued interest to the Redemption Date,
but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred
to on the face hereof, all as provided in the Indenture.] 
 [If applicable, insert — Notwithstanding the foregoing, the
Company may not, prior to             , redeem any Securities of this series as contemplated by [if applicable, insert — clause (2) of] the preceding paragraph as a part
of, or in anticipation of, any refunding operation by the application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial practice) of less than
            % per annum.]  
 [If applicable, insert —
The sinking fund for this series provides for the redemption on             , in each year beginning with the year
            and ending with the year             of [if applicable, insert — not less than
$            (“mandatory sinking fund”) and not more than] $            aggregate principal amount of Securities of
this series. Securities of this series acquired or redeemed by the Company otherwise than through [if applicable, insert — mandatory] sinking fund payments may be credited against subsequent [if applicable, insert —
mandatory] sinking fund payments otherwise required to be made [if applicable, insert —, in the inverse order in which they become due].]  

[If the Security is subject to redemption of any kind, insert — In the event of redemption of this Security in part only, a
new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.]  

[If applicable, insert — The Indenture contains provisions for defeasance at any time of [the entire indebtedness of
this Security] [or] [certain restrictive covenants and Events of Default with respect to this Security] [, in each case] upon compliance with certain conditions set forth in the Indenture.]  

[If the Security is convertible into other securities of the Company, specify the conversion features.]  

The indebtedness evidenced by this Security is, to the extent and in the manner provided in the Indenture, subordinate and subject in right of
payment to the prior payment in full of all Senior Debt of the Company, and this Security is issued subject to such provisions of the Indenture with respect thereto. Each Holder of this Security, by accepting the same, (a) agrees to and shall
be bound by such provisions, (b) authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustee his attorney-in-fact for any
and all such purposes. 

  
 20 

 [If the Security is not an Original Issue Discount Security, insert
— If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the
Indenture.]  
 [If the Security is an Original Issue Discount Security, insert — If an Event of Default with
respect to Securities of this series shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall be equal to
— insert formula for determining the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal, premium and interest (in each case to the extent that the
payment of such interest shall be legally enforceable), all of the Company’s obligations in respect of the payment of the principal of and premium and interest, if any, on the Securities of this series shall terminate.]  

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of more than 50% in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the
right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities of this series, the Holders of not less than a majority in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in
respect of such Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to the Trustee, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time
Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by
the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

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

  
 21 

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

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

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Security that are defined in the Indenture
shall have the meanings assigned to them in the Indenture. 
 Section 2.4 Form of Legend for Global Securities. 

Unless otherwise specified as contemplated by Section 3.1 for the Securities evidenced thereby, every Global Security authenticated and
delivered hereunder shall bear a legend in substantially the following form: 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

  
 22 

 Section 2.5 Form of Trustee’s Certificate of Authentication. 

The Trustee’s certificates of authentication shall be in substantially the following form: 

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

 

			
	                            ,
	As Trustee
		
	By:	 	  

		 	Authorized Officer

 Section 2.6 Form of Conversion Notice. 

Any conversion notice shall be in the form set forth in one or more indentures supplemental hereto for the Securities of such series. 

ARTICLE 3 
 THE
SECURITIES 
 Section 3.1 Amount Unlimited; Issuable in Series. 

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. There shall be established in or pursuant to a Board Resolution and as set forth in such
Board Resolution (including such terms as set forth in any form of Securities for each series approved by such Board Resolution) or, to the extent established pursuant to rather than set forth in a Board Resolution, in an Officers’ Certificate
detailing such establishment (including any exhibit attached thereto), or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series, 

(1) the title of the Securities of the series (which shall distinguish the Securities of the series from Securities of any
other series); 
 (2) any limit upon the aggregate principal amount of the Securities of the series which 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 the series pursuant to Section 3.4, 3.5, 3.6, 9.6 or
11.7 and except for any Securities which, pursuant to Section 3.3, are deemed never to have been authenticated and delivered hereunder); 

(3) the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name that
Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 

(4) the date or dates on which the principal of any Securities of the series is payable; 

  
 23 

 (5) the rate or rates (which may be fixed or variable) at which any
Securities of the series shall bear interest, if any, the date or dates from which any such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any such interest payable on
any Interest Payment Date (or the method for determining the dates and rates); 
 (6) the place or places where the principal
of and any premium and interest on any Securities of the series shall be payable; 
 (7) the period or periods within which,
the price or prices at which and the terms and conditions upon which any Securities of the series may be redeemed, in whole or in part, at the option of the Company and, if other than by a Board Resolution, the manner in which any election by the
Company to redeem the Securities shall be evidenced; 
 (8) the obligation, if any, of the Company to redeem or purchase any
Securities of the series pursuant to any sinking fund or analogous provisions or at the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the
series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 (9) if other than denominations
of $1,000 and any integral multiple thereof, the denominations in which any Securities of the series shall be issuable; 

(10) if the amount of principal of or any premium or interest on any Securities of the series may be determined with reference
to an index or pursuant to a formula, the manner in which such amounts shall be determined; 
 (11) if other than the
currency of the United States of America, the currency, currencies or currency units in which the principal of or any premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the
currency of the United States of America for any purpose, including for purposes of the definition of “Outstanding” in Section 1.1; 

(12) if the principal of or any premium or interest on any Securities of the series is to be payable, at the election of the
Company or the Holder thereof, in one or more currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies or currency units in which the principal of or any premium or interest on
such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which such election is to be made and the amount so payable (or the manner in which such amount shall be determined); 

(13) if other than the entire principal amount thereof, the portion of the principal amount of any Securities of the series
which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.2; 

  
 24 

 (14) if the principal amount payable at the Stated Maturity of any
Securities of the series will not be determinable as of any one or more dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder,
including the principal amount thereof which shall be due and payable upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which
such amount deemed to be the principal amount shall be determined); 
 (15) if applicable, that the Securities of the series,
in whole or any specified part, shall be defeasible pursuant to Section 13.2 or Section 13.3 or both such Sections, or any other defeasance provisions applicable to any Securities of the series, and, if other than by a Board Resolution,
the manner in which any election by the Company to defease such Securities shall be evidenced; 
 (16) if applicable, the
terms of any right to convert or exchange Securities of the series into shares of Common Stock of the Company or other securities or property; 

(17) if applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or more Global
Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 2.4 and any
circumstances in addition to or in lieu of those set forth in clause (2) of the last paragraph of Section 3.5 in which any such Global Security may be exchanged in whole or in part for Securities registered, and any transfer of such Global
Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof; 

(18) any addition to or change in the Events of Default which applies to any Securities of the series and any change in the
right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 5.2; 

(19) any addition to or change in the covenants set forth in Article 10 which applies to Securities of the series; 

(20) any Authenticating Agents, Paying Agents, Security Registrars or such other agents necessary in connection with the
issuance of the Securities of such series, including, without limitation, exchange rate agents and calculation agents; 

(21) if applicable, the terms of any security that will be provided for a series of Securities, including provisions regarding
the circumstances under which collateral may be released or substituted; 

  
 25 

 (22) if applicable, the terms of any guaranties for the Securities and any
circumstances under which there may be additional obligors on the Securities; 
 (23) any addition to or change in or
modification to the subordinated provisions of this Indenture relating to the Securities of that series (including the provisions of Article 15), or different subordination provisions, including a different definition of “Senior Debt”
or “Designated Senior Debt,” will apply to Securities of the series; and 
 (24) any other terms of the series
(which terms shall not be inconsistent with the provisions of this Indenture, except as permitted by Section 9.1(5)). 
 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 the Board Resolution referred to above and (subject to Section 3.3) set forth, or determined in the manner
provided, in the Officers’ Certificate referred to above or in any such indenture supplemental hereto. 
 If any of the terms of the
series are established by action taken pursuant to a Board Resolution, 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 (including any exhibit attached thereto) setting forth the terms of the series. 
 The Securities
shall be subordinated in right of payment to Senior Debt as provided in Article 15. 
 Section 3.2 Denominations. 

The Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be specified as
contemplated by Section 3.1. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and any integral multiple thereof. 

Section 3.3 Execution, Authentication, Delivery and Dating. 

The Securities shall be executed on behalf of the Company by any one of its Chairman of the Board, its Vice Chairman of the Board, its Chief
Executive Officer, its principal financial officer, its principal accounting officer, its President or one of its executive officers, and attested by its Treasurer, its Secretary or one of its Assistant Treasurers or Assistant Secretaries. The
signature of any of these officers on the Securities may be manual or facsimile. 
 Securities bearing the manual or facsimile signatures of
individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not
hold such offices at the date of such Securities. 

  
 26 

 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 Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall
authenticate and deliver such Securities. If the form or terms of the Securities of the series have been established by or pursuant to one or more Board Resolutions as permitted by Sections 2.1 and 3.1, in authenticating such Securities, and
accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall receive, and (subject to Section 6.1) shall be fully protected in relying upon, a copy of such Board Resolution, the Officers’
Certificate setting forth the terms of the series and an Opinion of Counsel (which Opinion of Counsel may contain customary qualifications and exceptions), with such Opinion of Counsel stating, 

(1) if the form of such Securities has been established by or pursuant to Board Resolution as permitted by Section 2.1,
that such form has been established in conformity with the provisions of this Indenture; 
 (2) if the terms of such
Securities have been established by or pursuant to Board Resolution as permitted by Section 3.1, that such terms have been established in conformity with the provisions of this Indenture; and 

(3) that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject
to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. 
 If
such form or terms have been so established, 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 which is not reasonably acceptable to the Trustee. 
 Notwithstanding the provisions
of Section 3.1 and of the preceding paragraph, if all Securities of a series are not to be originally issued at one time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to Section 3.1 or the
Company Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior to the authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance
of the first Security of such series to be issued. 
 Each Security shall be dated the date of its authentication. 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has
been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security 

  
 27 

 
shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in
Section 3.9, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use
“CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any
notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify
the Trustee in writing of any change in the “CUSIP” numbers. 
 Section 3.4 Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate
and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with
such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as evidenced by their execution of such Securities. 

If temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without
unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged, the temporary Securities of any series shall in
all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 
 Section 3.5 Registration;
Registration of Transfer and Exchange. 
 The Company shall cause to be kept at the Corporate Trust Office of the Trustee a
register (the register maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of
Securities as herein provided. 

  
 28 

 Upon surrender for registration of transfer of any Security of a series at the office or
agency of the Company in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any
authorized denominations and of like tenor and aggregate principal amount. 
 At the option of the Holder, Securities of any series may be
exchanged for other Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so
surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities that the Holder making the exchange is entitled to receive. All Securities issued upon any registration of transfer or exchange of
Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 

Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee) be
duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or its attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.4, 9.6 or 11.7 not involving any transfer. 

If the Securities of any series (or of any series and specified tenor) are to be redeemed in part, the Company shall not be required
(A) to issue, register the transfer of or exchange any Securities of that series (or of that series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days before the day of the mailing of a
notice of redemption of any such Securities selected for redemption under Section 11.3 and ending at the close of business on the day of such mailing, or (B) to register the transfer of or exchange any Security so selected for redemption
in whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 The provisions of clauses (1), (2),
(3) and (4) below shall apply only to Global Securities: 
 (1) Each Global Security authenticated under this
Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single
Security for all purposes of this Indenture. 
 (2) Notwithstanding any other provision in this Indenture, no Global Security
may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of 

  
 29 

 
any Person other than the Depositary for such Global Security or a nominee thereof unless (A) such Depositary (i) has notified the Company that it is unwilling or unable to continue as
Depositary for such Global Security or (ii) has ceased to be a clearing agency registered under the Exchange Act, (B) there shall have occurred and be continuing an Event of Default with respect to such Global Security or (C) there
shall exist such circumstances, if any, in addition to or in lieu of the foregoing as have been specified for this purpose as contemplated by Section 3.1. 

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

(4) Every Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global
Security or any portion thereof, whether pursuant to this Section, Section 3.4, 3.6, 9.6 or 11.7 or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such Security is registered in the name
of a Person other than the Depositary for such Global Security or a nominee thereof. 
 Section 3.6 Mutilated, Destroyed, Lost and Stolen
Securities. 
 If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any
Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona
fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and
payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new Security
under this Section, 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. 
 Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall
constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Securities of that series duly issued hereunder. 

  
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 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 3.7 Payment of
Interest; Interest Rights Preserved. 
 Except as otherwise provided as contemplated by Section 3.1 with respect to
any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such interest. 
 Any interest on any Security of any series which is
payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such
Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: 

(1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series
(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 Security of such series 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 be not more than 15 days and not 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 given to each Holder of Securities of such series in the manner set forth in Section 1.6, 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 so given, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their
respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). 

  
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 (2) The Company may make payment of any Defaulted Interest on the Securities
of any series 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. 
 Subject to
the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which
were carried by such other Security. 
 Subject to the provisions of Section 14.2, in the case of any Security (or any part thereof)
which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than any Security the principal of (or premium, if any, on) which shall become due and payable, whether at Stated Maturity or by
declaration of acceleration or otherwise prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion and such interest (whether
or not punctually paid or duly provided for) shall be paid to the Person in whose name that Security (or any one or more Predecessor Securities) is registered at the close of business on such Regular Record Date. Except as otherwise expressly
provided in the immediately preceding sentence or in Section 14.2, in the case of any Security (or any part thereof) which is converted, interest whose Stated Maturity is after the date of conversion of such Security (or such part thereof)
shall not be payable. 
 Section 3.8 Persons Deemed Owners. 

Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Section 3.7) any interest on such Security and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

Section 3.9 Cancellation. 

All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall,
if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not
issued and sold, and all Securities so delivered shall be promptly canceled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided in this Section, except as expressly permitted by this
Indenture. All canceled Securities held by the Trustee shall be disposed of in accordance with its customary procedures. 

  
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 Section 3.10 Computation of Interest. 

Except as otherwise specified as contemplated by Section 3.1 for Securities of any series, interest on the Securities of each series shall
be computed on the basis of a 360-day year of twelve 30-day months. 
 ARTICLE 4 

SATISFACTION AND DISCHARGE 

Section 4.1 Satisfaction and Discharge of Indenture. 

This Indenture shall upon Company Request cease to be of further effect (except as to any surviving rights of registration of transfer or
exchange of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 

(1) either 

(A) all Securities theretofore authenticated and delivered (other than (i) Securities which have been destroyed, lost or
stolen and which have been replaced or paid as provided in Section 3.6 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Trustee or the Company and thereafter repaid
to the Company or discharged from such trust, as provided in Section 10.3) have been delivered to the Trustee for cancellation; or 

(B) all such Securities not theretofore delivered to the Trustee for cancellation 

(i) have become due and payable, or 

(ii) will become due and payable at their Stated Maturity within one year, or 

(iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice
of redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the case of (i), (ii) or
(iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee
for cancellation, for principal and any premium and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 

  
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 (2) the Company has paid or caused to be paid all other sums payable
hereunder by the Company; and 
 (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.7, the
obligations of the Company to any Authenticating Agent under Section 6.14 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of the Trustee under
Section 4.2 and the last paragraph of Section 10.3 shall survive such satisfaction and discharge. 
 Section 4.2 Application of Trust
Money. 
 Subject to the provisions of the last paragraph of Section 10.3, all money deposited with the Trustee
pursuant to Section 4.1 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own
Paying Agent) to the Company or as a court of competent jurisdiction may direct, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee. 

ARTICLE 5 
 REMEDIES

 Section 5.1 Events of Default. 

“Event of Default,” wherever used herein with respect to Securities of any series, means any one of the following events (whatever
the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental
body), unless in the Board Resolution (or in an Officers’ Certificate detailing such establishment pursuant to such Board Resolution) or supplemental indenture establishing such series, it is provided that such series shall not have the benefit
of said Event of Default: 
 (1) default in the payment of the principal or any premium on any Security of that series at its
Maturity; or 
 (2) default in the payment of any interest upon any Security of that series when it becomes due and payable,
and continuance of such default for a period of 30 days; or 

  
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 (3) default in the deposit of any sinking fund payment, when and as due by
the terms of a Security of that series; or 
 (4) default in the performance, or breach, of any covenant or warranty of the
Company in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of series
of Securities other than that series), and continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders
of at least 25% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 

(5) the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company
in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as properly filed a
petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar
official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a
period of 90 consecutive days; or 
 (6) the commencement by the Company of a voluntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the
Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it
of a petition or answer or consent seeking reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its
debts generally as they become due, or the taking of corporate action by the Company in furtherance of any such action; or 

(7) any other Event of Default provided with respect to Securities of that series in the Board Resolution (or in an
Officers’ Certificate detailing such establishment pursuant to such Board Resolution) or supplemental indenture establishing that series. 

  
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 Section 5.2 Acceleration of Maturity; Rescission and Annulment. 

(a) Unless the Board Resolution (or in an Officers’ Certificate detailing such establishment pursuant to such Board Resolution) or
supplemental indenture establishing such series provides otherwise, if an Event of Default (other than an Event of Default specified in Section 5.1(5) or 5.1(6)) with respect to Securities of any series at the time Outstanding occurs and is
continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series (or, if any Securities of that
series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof), and premium, if any, together with accrued and unpaid interest, if any, thereon, to be due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount), and premium, if any, together with accrued and unpaid interest, if any,
thereon, shall become immediately due and payable. If an Event of Default specified in Section 5.1(5) or 5.1(6) with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of that series
(or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof), and premium, if any, together with accrued and unpaid interest, if any,
thereon, shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. Any payments by the Company on the Securities following any such acceleration will be subject to
the subordination provisions of Article 15 to the extent provided therein. 
 (b) Notwithstanding the foregoing, at the election of the
Company, the sole remedy with respect to an Event of Default for the failure by the Company to comply with its obligations under Section 314(a)(1) of the Trust Indenture Act relating to the Company’s failure to file any documents or
reports that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act or of its covenants set forth in Section 7.4 (any such Event of Default, a “Reporting Default”), shall for the first
180 calendar days after the occurrence of such Reporting Default consist exclusively of the right to receive additional interest (the “Additional Interest”) on the Securities at an annual rate equal to (i) 0.25% of the principal
amount of the Securities for the first 90 calendar days after the occurrence of such Reporting Default and (ii) 0.50% of the principal amount of the Securities from the 91st day to, and including, the 180th day after the occurrence of such
Reporting Default. If the Company so elects, the Additional Interest shall accrue on all Outstanding Securities from and including the date on which such Reporting Default first occurs until such violation is cured or waived and shall be payable as
provided in Section 3.7. On the 181st day after such Reporting Default (if such violation is not cured or waived prior to such 181st calendar day), then the Trustee or the Holders of not less than 25% in principal amount of the Outstanding
securities may declare the principal of, and premium, if any, together with accrued and unpaid interest, if any, on all such Securities to be due and payable immediately. 

If the Company elects to pay the Additional Interest as the sole remedy for the Reporting Default, the Company shall notify in writing, by a
certificate, the Holders, the Paying Agent and the Trustee of such election at any time on or before the close of business on the first Business Day following the date on which such Event of Default first occurs. Unless and until a

  
 36 

 
Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that Additional Interest is not payable. The Company shall pay
the Additional Interest semi-annually in arrears, with the first semi-annual payment due on the first Interest Payment Date following the date of such Reporting Default, in the same manner as described on the face of the Security. 

(c) At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or
decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if 
 (1) the Company has paid or deposited with the
Trustee a sum sufficient to pay 
 (A) all overdue interest on all Securities of that series, and 

(B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such
declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities, and 
 (C)
to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and 

(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel; and 
 (2) all Events of Default with respect to Securities of that series, other than
the non-payment of the principal of Securities of that series that have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 

No such rescission shall affect any subsequent default or impair any right consequent thereon. 

In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or been
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 the Company and the Trustee shall be restored respectively to their several 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. 

For all purposes under this Indenture, if a portion of the principal of any Original Issue Discount Securities shall have been accelerated and
declared due and payable pursuant to the provisions hereof, then, from and after such declaration, unless such declaration has been rescinded and annulled, the principal amount of such Original Issue Discount Securities shall be deemed, for all
purposes hereunder, to be such portion of the principal thereof as shall be due 

  
 37 

 
and payable as a result of such acceleration, and payment of such portion of the principal thereof as shall be due and payable as a result of such acceleration, together with interest, if any,
thereon and all other amounts owing thereunder, shall constitute payment in full of such Original Issue Discount Securities. 
 Section 5.3
Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company covenants that if 

(1) default is made in the payment of the principal or the Redemption Price of (or premium, if any on) any Security at the
Maturity thereof, or 
 (2) default is made in the payment of any interest on any Security when such interest becomes due and
payable and such default continues for a period of 30 days, 
 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of
such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on
any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel. 
 If an Event of Default with respect to Securities of any series occurs
and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect
and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

Section 5.4 Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company (or any other obligor upon the Securities), its property or its creditors, the
Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In
particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.7. No provision of this Indenture shall be deemed to authorize
the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in
respect of the claim of any Holder in 

  
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any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a
creditors’ or other similar committee. 
 Section 5.5 Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of
any of the Securities or the production thereof in any proceeding relating thereto, and any such 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 the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.

 Section 5.6 Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 

FIRST: To the payment of all amounts due the Trustee under Section 6.7; 

SECOND: Subject to Article 15, to the payment of the amounts then due and unpaid for principal of and any premium, if any, and interest
on the Securities 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 any premium, if any,
and interest, respectively; and 
 THIRD: The balance, if any, to the Company or as a court of competent jurisdiction may direct. 

Section 5.7 Limitation on Suits. 

No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
 (1) such Holder has
previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that series; 

(2) the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series shall have made
written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

  
 39 

 (3) such Holder or Holders have offered to the Trustee indemnity reasonably
satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in compliance with such request; 

(4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any
such proceeding; and 
 (5) no direction inconsistent with such written request has been given to the Trustee during such
60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series; 
 it being understood and intended that no one
or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority
or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

Section 5.8 Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert. 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of and any premium and (subject to Section 3.7) interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date), to convert such
Securities in accordance with Article 14 to the extent that such right to convert is applicable to such Security, and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such
Holder. 
 Section 5.9 Restoration of Rights and Remedies. 

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

Section 5.10 Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last
paragraph of Section 3.6, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 

  
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 Section 5.11 Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall
impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often
as may be deemed expedient, by the Trustee (subject to the limitations contained in this Indenture) or by the Holders, as the case may be. 

Section 5.12 Control by Holders. 

The Holders of a majority in principal amount of the Outstanding Securities of any series 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 the Securities of such series, provided that 

(1) such direction shall not be in conflict with any rule of law or with this Indenture and the Trustee shall not have
determined that the action so directed would be unjustly prejudicial to Holders of Securities of that series, or any other series, not taking part in such direction; and 

(2) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction or this
Indenture. 
 Section 5.13 Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the
Securities of such series waive any past default hereunder with respect to such series and its consequences, except 
 (1) a
default in the payment of the principal of or any premium or interest on any Security of such series as and when the same shall become due and payable by the terms thereof, otherwise than by acceleration (unless such default has been cured and a sum
sufficient to pay all matured installments of interest, principal and premium, if any, has been deposited with the Trustee), or 

(2) to the extent such right is applicable to such Security, a failure by the Company on request to convert any Security into
Common Stock; or 
 (3) in respect of a covenant or provision hereof which under Article 9 cannot be modified or amended
without the consent of the Holder of each Outstanding Security of such series affected. 
 Upon any such waiver, such default shall cease to
exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

  
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 Section 5.14 Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered
or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in the Trust
Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by a Holder to enforce payment of principal of
or interest on any Security on the respective due dates, a suit by a Holder to enforce the right to convert in any suit for the enforcement of the right to convert any Security in accordance with Article 14 to the extent such right to convert is
applicable to such Security, or a suit by Holders of more than 10% in principal amount of the Outstanding Securities. 
 Section 5.15 Waiver of
Usury, Stay or Extension Laws. 
 The Company covenants (to the extent that it may lawfully do so) that it will not at any
time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee,
but will suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE 6 

THE TRUSTEE 
 Section 6.1 Certain
Duties and Responsibilities. 
 (a) Except during the continuance of an Event of Default, 

(1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no
implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the absence of willful
misconduct on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture; but in the case of any such certificates or opinions which 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 (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

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

  
 42 

 (c) 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 
 (1) this
Subsection shall not be construed to limit the effect of Subsection (a) of this Section; 
 (2) the Trustee shall not be
liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 

(3) 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 a majority in principal amount of the Outstanding Securities of any series, 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 such series; and 
 (4) no provision
of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 

(d) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Section. 
 Section 6.2 Notice of Defaults. 

If a default occurs hereunder with respect to Securities of any series, the Trustee shall give the Holders of Securities of such series notice
of such default as and to the extent provided by the Trust Indenture Act; provided, however, that except in the case of a default in the payment of principal or Redemption Price of (or premium, if any) or interest on any Securities of
such series or in the payment of any sinking fund installment or any conversion right applicable to Securities of such series, the Trustee shall be protected in withholding such notice if and so long as Responsible Officers of the Trustee in good
faith determine that the withholding of such notice is in the interests of the holders of Securities of such series; provided, further, however, that in the case of any default of the character specified in Section 5.1(4)
with respect to Securities of such series, no such notice to Holders shall be given until at least 60 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event that is, or after notice or
lapse of time or both would become, an Event of Default with respect to Securities of such series. 

  
 43 

 Except with respect to Section 10.1, the Trustee shall have no duty to inquire as to
the performance of the Company with respect to the covenants contained in Article 10. In addition, the Trustee shall not be deemed to have knowledge of an Event of Default except (i) any Default or Event of Default occurring pursuant to
Sections 5.1(1), 5.1(2) and 5.1(3) (defaults in payments on the Securities) or (ii) any Default or Event of Default of which a Responsible Officer of the Trustee shall have received written notification at its Corporate Trust Office or
obtained actual knowledge. 
 Delivery of reports, information and documents to the Trustee under Section 7.4 is for informational
purposes only 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 hereunder (as to which the Trustee is entitled to rely conclusively on Officers’ Certificates). 
 Section 6.3 Certain Rights of
Trustee. 
 Subject to the provisions of Section 6.1: 

(1) in the absence of bad faith on the part of the Trustee, the Trustee may rely and shall be protected in acting or refraining
from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to
have been signed or presented by the proper party or parties; 
 (2) any request or direction of the Company mentioned herein
shall be sufficiently evidenced by a Company Request or Company Order, and any resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution; 

(3) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established
prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) is entitled to and may, in the absence of bad faith on its part, rely upon an Officers’ Certificate; 

(4) the Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be
full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(5) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against the costs, expenses and liabilities which might be
incurred by it in compliance with such request or direction; 

  
 44 

 (6) 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, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its
discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Company, personally or by agent or attorney; and 
 (7) 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;

 (8) the Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and
reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 

(9) in no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action; 

(10) the rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its
right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder; and 

(11) the Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture. 
 Section 6.4 Not Responsible for Recitals or Issuance of
Securities. 
 The recitals contained herein and in the Securities, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity, sufficiency or priority
of this Indenture or of the Securities. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Securities or the proceeds thereof. 

Section 6.5 May Hold Securities and Act as Trustee under Other Indentures. 

The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any
other capacity, may become the owner or pledgee of Securities and, subject to Sections 6.8 and 6.13, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other agent. 

  
 45 

 Subject to the limitations imposed by the Trust Indenture Act, nothing in this Indenture
shall prohibit the Trustee from becoming and acting as trustee under other indentures under which other securities, or certificates of interest of participation in other securities, of the Company are outstanding in the same manner as if it were not
Trustee hereunder. 
 Section 6.6 Money Held in Trust. 

Money held by the Trustee in trust hereunder 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 money received by it hereunder except as otherwise agreed with the Company. 
 Section 6.7 Compensation and
Reimbursement. 
 The Company agrees: 

(1) to pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder (which
compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement
or advance as shall be determined to have been caused by its own negligence or willful misconduct; and 
 (3) to indemnify
the Trustee for, and to hold it harmless against, any loss, claim, damage, liability or expense incurred without negligence or willful misconduct on its part, arising out of or in connection with the acceptance or administration of the trust or
trusts hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 

When the Trustee incurs expenses or renders services after an Event of Default specified in Section 5.1(5) or Section 5.1(6) hereof
occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any applicable bankruptcy, insolvency, reorganization or similar law.

 The provisions of this Section 6.7 shall survive the termination and discharge of this Indenture. 

Section 6.8 Conflicting Interests. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act and there is an Event of Default under
the Securities of that series, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the
Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under this Indenture with respect to Securities of more than one series. 

  
 46 

 Section 6.9 Corporate Trustee Required; Eligibility. 

There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder
for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a
combined capital and surplus of at least $50,000,000. If any such Person or bank holding company publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the
purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person or bank holding company shall be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter
specified in this Article. 
 Section 6.10 Resignation and Removal; Appointment of Successor. 

No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11. The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the
Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving 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 the Securities of such series. 
 The Trustee may
be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. 

If at any time: 

(1) the Trustee shall fail to comply with Section 6.8 after written request therefor by the Company or by any Holder who
has been a bona fide Holder of a Security for at least six months, or 
 (2) the Trustee shall cease to be eligible under
Section 6.9 and shall fail to resign after written request therefor by the Company or by any such Holder, or 
 (3) the
Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed 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, 

  
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 then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to
all Securities, or (B) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for
the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
 If the Trustee shall
resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor
Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be
only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 6.11. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy,
a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor
Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent
supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by
Section 6.11, the retiring Trustee may petition, or any Holder who has been a bona fide Holder of a Security of such series for at least six months may petition, on behalf of himself and all others similarly situated, any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 The Company shall give notice of
each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided
in Section 1.6. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 

Section 6.11 Acceptance of Appointment by Successor. 

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. 

  
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 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 (1) 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, (2) if the retiring Trustee is not retiring with respect to all Securities, 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 (3) 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 and 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 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 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 all 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. 
 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 the first or second preceding paragraph, as the case may be. 

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. 
 Section 6.12 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 all or substantially all 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 such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto.
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. In the event that any Securities shall not have been authenticated 

  
 49 

 
by such predecessor Trustee, any such successor Trustee may authenticate and deliver such Securities in either its own name or that of a predecessor Trustee, with the full force and effect which
this Indenture provides for the certificate of authentication of the Trustee. 
 Section 6.13 Preferential Collection of Claims Against
Company. 
 If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon the
Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor). 

Section 6.14 Appointment of Authenticating Agent. 

The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on
behalf of the Trustee to authenticate Securities of such series issued upon original issue and upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.6, 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. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the
Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an
Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia,
authorized under such laws to act as Authenticating Agent, having (or if the Authenticating Agent is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of not less than $50,000,000 and subject to
supervision or examination by Federal or State authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 

Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 

An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time
terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at

  
 50 

 
any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable
to the Company and shall give notice of such appointment in the manner provided in Section 1.6 to all Holders of Securities of the series with respect to which such Authenticating Agent will serve. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed
unless eligible under the provisions of this Section. 
 The Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section. 
 If an appointment with respect to one or more series is made pursuant to this
Section 6.14, the Securities of such series may have endorsed thereon, in lieu of the Trustee’s certificate of authentication, an alternative certificate of authentication in the following form: 

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

 

			
	      

		
	By:	 	
		 	As Authenticating Agent
		
	By:	 	
		 	Authorized Officer

 ARTICLE 7 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 

Section 7.1 Company to Furnish Trustee Names and Addresses of Holders. 

The Company will furnish or cause to be furnished to the Trustee 

(1) semi-annually, not later than 15 days after the Regular Record Date for each respective series of Securities, a list,
in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of each series as of such Regular Record Date, as the case may be, or if there is no Regular Record Date for such series of Securities,
semi-annually, and 
 (2) 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; 

(3) provided that no such list need be furnished by the Company to the Trustee so long as the Trustee is acting as
Security Registrar. 

  
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 Section 7.2 Preservation of Information; Communications to Holders. 

The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent
list furnished to the Trustee as provided in Section 7.1 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 7.1 upon
receipt of a new list so furnished. 
 The rights of Holders to communicate with other Holders with respect to their rights under this
Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee
that neither the Company nor the Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act. 

Section 7.3 Reports by Trustee. 

The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to
the Trust Indenture Act at the times and in the manner provided pursuant thereto. 
 Reports so required to be transmitted at stated
intervals of not more than 12 months shall be transmitted no later than July 15 in each calendar year, commencing with the first July 15 after the first issuance of Securities pursuant to this Indenture. 

A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any
Securities are listed with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange. 

Section 7.4 Reports by Company. 

Any information, documents or other reports that the Company shall file with the Commission pursuant to Section 13 or 15(d) of the
Exchange Act shall be filed with the Trustee within 15 days after the same is filed with the Commission; provided that any such information, documents or reports filed or furnished with the Commission pursuant to its Electronic Data
Gathering, Analysis and Retrieval (or EDGAR) system shall be deemed to be filed with the Trustee as of the time such information, documents or reports are filed or furnished via EDGAR. 

ARTICLE 8 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

Section 8.1 Company May Consolidate, etc., Only on Certain Terms. 

The Company shall not consolidate with or merge into any other Person (other than a Subsidiary of the Company) (in a transaction in which the
Company is not the surviving 

  
 52 

 
corporation) or convey, transfer or lease its properties and assets substantially as an entirety to any Person (other than a Subsidiary of the Company), unless: 

(1) in case the Company shall consolidate with or merge into another Person (in a transaction in which the Company is not the
surviving corporation) or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or
transfer, or which leases, the properties and assets of the Company substantially as an entirety shall be a corporation, limited liability company, partnership, trust or other business entity, shall be organized and validly existing under the laws
of the United States of America, any State thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment
of the principal of and any premium and interest on all the Securities and the performance or observance of every covenant of this Indenture on the part of the Company to be performed or observed and the conversion rights shall be provided for in
accordance with Article 14, if applicable, or as otherwise specified pursuant to Section 3.1, by supplemental indenture satisfactory in form to the Trustee, executed and delivered to the Trustee, by the Person (if other than the Company)
formed by such consolidation or into which the Company shall have been merged or by the Person which shall have acquired the Company’s assets; 

(2) immediately after giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of time
or both, would become an Event of Default, shall have occurred and be continuing; and 
 (3) the Company has delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental
indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 

Section 8.2 Successor Substituted. 

Upon any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of the
properties and assets of the Company substantially as an entirety in accordance with Section 8.1, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the
predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 

  
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 ARTICLE 9 

SUPPLEMENTAL INDENTURES 

Section 9.1 Supplemental Indentures Without Consent of Holders. 

Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may
enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 

(1) to evidence the succession of another Person to the Company, or successive successions, and the assumption by any such
successor of the covenants of the Company herein and in the Securities in compliance with Article 8; or 
 (2) to add to
the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely
for the benefit of such series) or to surrender any right or power herein conferred upon the Company; or 
 (3) to add any
additional Events of Default for the benefit of the Holders of all or any series of Securities (and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default
are expressly being included solely for the benefit of such series); or 
 (4) to add to or change any of the provisions of
this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of
Securities in uncertificated form; or 
 (5) to add to, change or eliminate any of the provisions of this Indenture in
respect of one or more series of Securities, provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled
to the benefit of such provision nor (ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security Outstanding; or 

(6) to secure the Securities, including provisions regarding the circumstances under which Collateral may be released or
substituted; or 
 (7) to add or provide for a guaranty of the Securities or additional obligors on the Securities; or 

(8) to establish the form or terms of Securities of any series as permitted by Sections 2.1 and 3.1; or 

  
 54 

 (9) to evidence and provide for the acceptance of appointment hereunder by a
successor Trustee with respect to the Securities of one or more series and to 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, pursuant to the requirements of Section 6.11; or 
 (10) to conform this Indenture to the description of the
Securities set forth in the Prospectus; or 
 (11) to cure any ambiguity, to correct or supplement any provision herein which
may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided that such action pursuant to this clause (11) shall not
adversely affect the interests of the Holders of Securities of any series in any material respect; or 
 (12) to supplement
any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance and discharge of any series of Securities pursuant to Articles 4 and 13, provided that any such action shall not adversely affect the
interests of the Holders of Securities of such series or any other series of Securities in any material respect; or 
 (13)
to maintain the qualification of this Indenture under the Trust Indenture Act. 
 Section 9.2 Supplemental Indentures with Consent of
Holders. 
 With the consent of the Holders of a majority in principal amount of the Outstanding Securities of each series
affected by such supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided,
however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby, 

(1) change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, or reduce
the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 5.2, or change the Place of Payment or the coin or currency in which, any Security or any premium or interest thereon is payable, or impair the right to institute suit for
the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or modify the provisions of this Indenture with respect to the subordination of such series of Securities
in a manner materially 

  
 55 

 
adverse to the Holders of Securities of such series, or, in the case of Securities of any series that are convertible into Securities or other securities of the Company, adversely affect the
right of Holders to convert any of the Securities of such series other than as provided in or pursuant to this Indenture, or 

(2) reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is
required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture,
or 
 (3) modify any of the provisions of this Section, Section 5.13 or Section 10.8, except to increase any such
percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be
deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section and Section 10.8, or the deletion of this proviso, in accordance with the requirements
of Sections 6.11 and 9.1(8), or 
 (4) if applicable, make any change that adversely affects the right to convert any
security as provided in Article 14 to the extent such right to convert is applicable to such security or pursuant to Section 3.1 (except as permitted by Section 9.1(9)). 

A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included
solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series. 
 It shall not be necessary for any Act of Holders under this Section to
approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

Section 9.3 Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby
of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Sections 6.1 and 6.3) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture
is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

  
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 Section 9.4 Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

Section 9.5 Conformity with Trust Indenture Act. 

This Indenture shall incorporate and be governed by the provisions of the Trust Indenture Act that are required to be part of and to govern
indentures qualified under the Trust Indenture Act. If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by the Trust Indenture Act, such imposed duties shall control. 

Section 9.6 Reference in Securities to Supplemental Indentures. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall
if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of
the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 

Section 9.7 Subordination Unimpaired. 

No provision in any supplemental indenture that affects the superior position of the holders of Senior Debt shall be effective against holders
of Senior Debt. 
 ARTICLE 10 

COVENANTS 
 Section 10.1 Payment
of Principal, Premium and Interest. 
 The Company covenants and agrees for the benefit of each series of Securities that
it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture. 

Section 10.2 Maintenance of Office or Agency. 

The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be
presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange, where Securities of that series may be surrendered for conversion to the extent that such right to convert is
applicable to such Security and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change
in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices

  
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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, surrenders, notices and
demands. Unless otherwise provided in a supplemental indenture or pursuant to Section 3.1 hereof, the Place of Payment for any series of Securities shall be the Corporate Trust Office of the Trustee. 

The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain
an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office
or agency. 
 Section 10.3 Money for Securities Payments to be Held in Trust. 

If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date of
the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so becoming due until
such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, on or prior to each due date of the principal
of or any premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company
will promptly notify the Trustee of its action or failure so to act. 
 The Company will cause each Paying Agent for any series of
Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will (1) comply with the provisions
of the Trust Indenture Act applicable to it as a Paying Agent and (2) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of
that series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 

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
by Company Order 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 trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

  
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 Any amounts deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of or any premium or interest on any Security of any series and remaining unclaimed for a period ending on the earlier of the date that is ten Business Days prior to the date such money would escheat to the
State or two years after such principal, premium or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall
thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon
cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language,
customarily published on each Business Day and of general circulation in each Place of Payment, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such
publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
 Section 10.4 Statement by Officers as to
Default. 
 The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company
ending after the date hereof, an Officers’ Certificate, stating whether or not to the knowledge of the signers thereof the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture
(without regard to any period of grace or requirement of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. The fiscal year of the
Company currently ends on the Friday closest to September 30; and the Company will give the Trustee prompt written notice of any change of its fiscal year. 

Section 10.5 Existence. 

Subject to Article 8, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its
existence. 
 Section 10.6 Maintenance of Properties. 

The Company will cause all properties used or useful in the conduct of its business to be maintained and kept in good condition, repair and
working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as, and to the extent, in the judgment of the Company may be necessary so that
the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section shall prevent the Company from discontinuing the operation or maintenance of any
of such properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business and not disadvantageous in any material respect to the Holders. 

Section 10.7 Payment of Taxes and Other Claims. 

The Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments
and governmental charges levied or imposed 

  
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upon the Company or upon the income, profits or property of the Company, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a lien upon the
property of the Company; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim (i) whose amount, applicability or validity is
being contested in good faith by appropriate proceedings or (ii) if the failure to pay or discharge would not have a material adverse effect on the assets, business, operations, properties or condition (financial or otherwise) of the Company
and its subsidiaries, taken as a whole. 
 Section 10.8 Waiver of Certain Covenants. 

Except as otherwise specified as contemplated by Section 3.1 for Securities of such series, the Company may, with respect to the
Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Section 3.1(19), 9.1(2), 9.1(7), 10.6 or 10.7 for the benefit of the Holders of such series
if before the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance
with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the
duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 
 ARTICLE 11 

REDEMPTION OF SECURITIES 

Section 11.1 Applicability of Article. 

Securities of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 3.1 for such Securities) in accordance with this Article. 
 Section 11.2 Election to Redeem;
Notice to Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by a Board Resolution or in
another manner specified as contemplated by Section 3.1 for such Securities. In case of any redemption at the election of the Company of less than all the Securities of any series (including any such redemption affecting only a single
Security), the Company shall, at least 45 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee or is specified in the Board Resolution (or in an Officers’ Certificate pursuant
to such Board Resolution detailing such establishment) or supplemental indenture establishing such series), notify the Trustee in writing of such Redemption Date, of the principal amount of Securities of such series to be redeemed and, if
applicable, of the tenor of the Securities to be redeemed. 

  
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 Section 11.3 Selection by Trustee of Securities to Be Redeemed. 

If less than all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified tenor are to be
redeemed or unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 45 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not
previously called for redemption, by lot, on a pro-rata basis or by such other method that the Trustee deems appropriate, provided that the unredeemed portion of the principal amount of any Security shall be in an authorized denomination
(which shall not be less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified tenor are to be redeemed (unless such redemption affects only a single Security), the particular
Securities to be redeemed shall be selected not more than 45 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance with the
preceding sentence. 
 To the extent that the Security of any series is convertible pursuant to Article 14, if any Security selected for
partial redemption is converted in part before termination of the conversion right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for
redemption. Securities that have been converted during a selection of Securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection. 

The Trustee shall promptly notify the Company in writing of the Securities selected for redemption as aforesaid and, in case of any Securities
selected for partial redemption as aforesaid, the principal amount thereof to be redeemed. 
 The provisions of the two preceding paragraphs
shall not apply with respect to any redemption affecting only a single Security, whether such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security
shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. 
 For all
purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of
such Securities which has been or is to be redeemed. 
 Section 11.4 Notice of Redemption. 

Notice of redemption shall be given in the manner provided in Section 1.6 not fewer than 30 nor more than 60 days prior to the Redemption
Date, unless a shorter period is specified in the Securities to be redeemed, to each Holder of Securities to be redeemed, at its address appearing in the Security Register or, if the Securities are held in book-entry form, sent by electronic
transmission. 
 All notices of redemption shall state: 

(1) the Redemption Date, 

(2) the Redemption Price (including accrued interest, if any), 

  
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 (3) if less than all the Outstanding Securities of any series consisting of
more than a single Security are to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of
any series consisting of a single Security are to be redeemed, the principal amount of the particular Security to be redeemed, 

(4) in case any Security is to be redeemed in part only, that on and after the Redemption Date, upon surrender of such
Security, the Holder of such Security will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed, 

(5) that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if
applicable, that interest thereon will cease to accrue on and after said date, 
 (6) the place or places where each such
Security is to be surrendered for payment of the Redemption Price, 
 (7) if and to the extent such Security of a series is
convertible pursuant to Article 14, the conversion price or conversion rate, as the case may be, the date on which the right to convert the principal of the Securities or the portions thereof to be redeemed will terminate, and the place or places
where such Securities may be surrendered for conversion, 
 (8) that the redemption is for a sinking fund, if such is the
case, and 
 (9) the CUSIP number or numbers and/or common codes of the Security being redeemed. 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request and provision to the Trustee of such notice five days prior to the giving of such notice, by the Trustee in the name and at the expense of the Company and shall be irrevocable. 

Section 11.5 Deposit of Redemption Price. 

On or prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own
Paying Agent, segregate and hold in trust as provided in Section 10.3) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest, if any, on, all the
Securities which are to be redeemed on that date. 
 To the extent such Security of a series is convertible pursuant to Article 14, upon
conversion of any such Security called for redemption, any money deposited with the Trustee or with a Paying Agent or so segregated and held in trust for the redemption of such Security shall (subject to the right of any Holder of such Security to
receive interest as provided in the last paragraph of Section 3.7) be paid to the Company on Company Request, or if then held by the Company, shall be discharged from such trust. 

  
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 Section 11.6 Securities Payable on Redemption Date. 

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at
the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest, if any) such Securities shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with accrued interest, if any, to the Redemption Date; provided, however, that, unless otherwise
specified as contemplated by Section 3.1, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the
close of business on the relevant Record Dates according to their terms and the provisions of Section 3.7. 
 If any Security called
for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 

Section 11.7 Securities Redeemed in Part. 

Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so
requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or its attorney duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount equal
to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
 ARTICLE 12 

SINKING FUNDS 
 Section 12.1
Applicability of Article. 
 The provisions of this Article shall be applicable to any sinking fund for the retirement of
Securities of any series except as otherwise specified as contemplated by Section 3.1 for such Securities. 
 The minimum amount of any
sinking fund payment provided for by the terms of any Securities 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 such Securities is herein referred
to as an “optional sinking fund payment.” If provided for by the terms of any Securities, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.2. Each sinking fund payment shall be applied
to the redemption of Securities as provided for by the terms of such Securities. 

  
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 Section 12.2 Satisfaction of Sinking Fund Payments with Securities. 

The Company (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may apply as
a credit Securities of a series which 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 any Securities of such series required to be made pursuant to the terms of such Securities as and to the extent provided for by the terms of such Securities;
provided that the Securities to be so credited have not been previously so credited. The Securities to be so credited shall be received and credited for such purpose by the Trustee at the Redemption Price, as specified in the Securities so to
be redeemed, for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

Section 12.3 Redemption of Securities for Sinking Fund. 

Not fewer than 60 days prior to each sinking fund payment date for any Securities, the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof,
if any, which is to be satisfied by delivering and crediting Securities pursuant to Section 12.2 and will also deliver to the Trustee any Securities to be so delivered. Not fewer than 30 days prior to each such sinking fund payment date,
the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 11.3 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 11.4. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 11.6 and 11.7. 

ARTICLE 13 
 DEFEASANCE
AND COVENANT DEFEASANCE 
 Section 13.1 Company’s Option to Effect Defeasance or Covenant Defeasance. 

The Company may elect, at its option at any time, to have Section 13.2 or Section 13.3 applied to any Securities or any series of
Securities, as the case may be, designated pursuant to Section 3.1 as being defeasible pursuant to such Section 13.2 or 13.3, in accordance with any applicable requirements provided pursuant to Section 3.1 and upon compliance with the
conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 3.1 for such Securities. 

Section 13.2 Defeasance and Discharge. 

Upon the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case
may be, the Company shall be deemed to have 

  
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been discharged from its obligations, and the provisions of Article 15 shall cease to be effective, with respect to such Securities as provided in this Section on and after the date the
conditions set forth in Section 13.4 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such
Securities and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same),
subject to the following which shall survive until otherwise terminated or discharged hereunder: 
 (1) the rights of Holders
of such Securities to receive, solely from the trust fund described in Section 13.4 and as more fully set forth in such Section, payments in respect of the principal of and any premium and interest on such Securities when payments are due, 

(2) the Company’s obligations with respect to such Securities under Sections 3.4, 3.5, 3.6, 10.2 and 10.3, and, if
applicable, Article 14, 
 (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder, and 

(4) this Article. 

Subject to compliance with this Article, the Company may exercise its option (if any) to have this Section applied to any Securities
notwithstanding the prior exercise of its option (if any) to have Section 13.3 applied to such Securities. 
 Section 13.3 Covenant
Defeasance. 
 Upon the Company’s exercise of its option (if any) to have this Section applied to any Securities or
any series of Securities, as the case may be, 
 (1) the Company shall be released from its obligations under
Sections 10.6 and 10.7 and any covenants provided pursuant to Sections 3.1(19), 9.1(2) or 9.1(7) for the benefit of the Holders of such Securities, 

(2) the occurrence of any event specified in Sections 5.1(4) (with respect to any of Sections 10.6 and 10.7 and any
such covenants provided pursuant to Section 3.1(19), 9.1(2) or 9.1(7)) and the occurrence of any Event of Default specified pursuant to Section 3.1, shall be deemed not to be or result in an Event of Default, and 

(3) the provisions of Article 15 shall cease to be effective, 

in each case with respect to such Securities or series of Securities as provided in this Section on and after the date the conditions set forth in
Section 13.4 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit to comply with and shall have no liability in respect
of any term, condition or limitation set forth in any such specified Section (to the extent so 

  
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specified in the case of Section 5.1(4) and the occurrence of any Event of Default specified pursuant to Section 3.1) or Article 15, whether directly or indirectly by reason of any
reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such Securities shall be
unaffected thereby. 
 Section 13.4 Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to the application of Section 13.2 or Section 13.3 to any Securities or any series of
Securities, as the case may be: 
 (1) The Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee which satisfies the requirements contemplated by Section 6.9 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of making the following payments,
specifically pledged as security for, and dedicated solely to, the benefits of the Holders of such Securities, 
 (A) in the
case of Securities of a series denominated in currency of the United States of America, 
 (i) cash in currency of the
United States of America in an amount, or 
 (ii) U.S. Government Obligations which through the scheduled payment of
principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, an amount in cash, or 

(iii) a combination thereof, or 

(B) in the case of Securities of a series denominated in currency other than that of the United States of America, 

(i) cash in the currency in which such series of Securities is denominated in an amount, or 

(ii) Foreign Government Obligations which through the scheduled payment of principal and interest in respect thereof in
accordance with their terms will provide, not later than one day before the due date of any payment, an amount in cash, or 

(iii) a combination thereof, 

in each case 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 and discharge, and which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge, the principal of and any premium and interest on such Securities on the respective Stated
Maturities, in accordance with the terms of this Indenture and such Securities. 

  
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 (2) In the event of an election to have Section 13.2 apply to any
Securities or any series of Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel stating that 

(A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or 

(B) since the date of this instrument, there has been a change in the applicable Federal income tax law, 

(C) in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of
such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the
same manner and at the same times as would be the case if such deposit, Defeasance and discharge were not to occur. 
 (3) In
the event of an election to have Section 13.3 apply to any Securities or any series of Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will
not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the
same times as would be the case if such deposit and Covenant Defeasance were not to occur. 
 (4) The Company shall have
delivered to the Trustee an Officers’ Certificate to the effect that neither such Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit. 

(5) No event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such
Securities or any other Securities shall have occurred and be continuing at the time of such deposit or, with regard to any such event specified in Sections 5.1(5) and (6), at any time on or prior to the 90th day after the date of such deposit
(it being understood that this condition shall not be deemed satisfied until after such 90th day). 
 (6) Such Defeasance or
Covenant Defeasance shall not cause the Trustee to have a conflicting interest within the meaning of the Trust Indenture Act (assuming all Securities are in default within the meaning of such Act). 

  
 67 

 (7) Such Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound. 

(8) Such Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit constituting an investment
company within the meaning of the Investment Company Act unless such trust shall be registered under such Act or exempt from registration thereunder. 

(9) At the time of such deposit, 

(A) no default in the payment of any principal of or premium or interest on any Senior Debt shall have occurred and be
continuing, 
 (B) no event of default with respect to any Senior Debt shall have resulted in such Senior Debt becoming, and
continuing to be, due and payable prior to the date on which it would otherwise have become due and payable (unless payment of such Senior Debt has been made or duly provided for), and 

(C) no other event of default with respect to any Senior Debt shall have occurred and be continuing permitting (after notice or
lapse of time or both) the holders of such Senior Debt (or a trustee on behalf of such holders) to declare such Senior Debt due and payable prior to the date on which it would otherwise have become due and payable. 

(10) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 
 Section 13.5 Deposited Money,
U.S. Government Obligations and Foreign Government Obligations to be Held in Trust; Miscellaneous Provisions. 

Subject to the provisions of the last paragraph of Section 10.3, all money, U.S. Government Obligations and Foreign Government
Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 13.6, the Trustee and any such other trustee are referred to collectively as the
“Trustee”) pursuant to Section 13.4 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through
any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, but money
so held in trust need not be segregated from other funds except to the extent required by law. Money, U.S. Government Obligations and Foreign Government Obligations so held in trust shall not be subject to the provisions of Article 15.

 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the
U.S. Government Obligations or Foreign Government Obligations deposited pursuant to Section 13.4 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of Outstanding Securities. 

  
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 Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon Company Request any money, U.S. Government Obligations or Foreign Government Obligations held by it as provided in Section 13.4 with respect to any Securities which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant
Defeasance, as the case may be, with respect to such Securities. 
 Section 13.6 Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any Securities by reason of any
order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities from which the Company has been discharged or released pursuant
to Section 13.2 or 13.3 shall be revived and reinstated as though no deposit had occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money held in trust
pursuant to Section 13.5 with respect to such Securities in accordance with this Article; provided, however, that if the Company makes any payment of principal of or any premium or interest on any such Security following such
reinstatement of its obligations, the Company shall be subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money so held in trust. 

ARTICLE 14 
 CONVERSION
OF SECURITIES 
 Section 14.1 Applicability of Article. 

The terms of any conversion provision that shall be applicable to the Securities of any series shall be set forth in one or more indentures
supplemental hereto for the Securities of such series. 
 ARTICLE 15 

SUBORDINATION OF SECURITIES 

Section 15.1 Agreement of Subordination. 

Except as otherwise provided in a supplemental indenture or pursuant to Section 3.1, the Company covenants and agrees, and each Holder of
Securities issued hereunder by its acceptance thereof likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this Article 15; and each Person holding any Security, whether upon original issue or upon
transfer, assignment or exchange thereof, accepts and agrees to be bound by such provisions. 

  
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 The payment of the principal of, premium, if any, and interest on all Securities (including,
but not limited to, the redemption price with respect to the Securities called for redemption in accordance with Article 11 as provided in the Indenture) issued hereunder shall, to the extent and in the manner hereinafter set forth, be
subordinated and subject in right of payment to the prior payment in full of all Senior Debt, whether outstanding at the date of this Indenture or thereafter incurred. 

No provision of this Article 15 shall prevent the occurrence of any default or Event of Default hereunder. 

Section 15.2 Payments to Holders. 

No payment shall be made with respect to the principal of, or premium, if any, or interest on the Securities (including, but not limited to,
the redemption price with respect to the Securities to be called for redemption in accordance with Article 11 as provided in the Indenture), except payments and distributions made by the Trustee as permitted by the first or second paragraph of
Section 15.5, if: 
 (i) a default in the payment of principal, premium, if any, interest, rent or other obligations due
on any Senior Debt occurs and is continuing (or, in the case of Senior Debt for which there is a period of grace, in the event of such a default that continues beyond the period of grace, if any, specified in the instrument or lease evidencing such
Senior Debt) (a “Payment Default”), unless and until such default shall have been cured or waived or shall have ceased to exist; or 

(ii) a default, other than a Payment Default, on any Designated Senior Debt occurs and is continuing that then permits holders
of such Designated Senior Debt to accelerate its maturity and the Trustee receives a notice of the default (a “Payment Blockage Notice”) from a holder of Designated Senior Debt, a Representative of Designated Senior Debt or the Company (a
“Non-Payment Default”). 
 If the Trustee receives any Payment Blockage Notice pursuant to clause (ii) above, no subsequent
Payment Blockage Notice shall be effective for purposes of this Section unless and until at least 365 days shall have elapsed since the initial effectiveness of the immediately prior Payment Blockage Notice. No Non-Payment Default that existed
or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice. 

The Company may and shall resume payments on and distributions in respect of the Securities upon the earlier of: 

(2) in the case of any Payment Default, the date upon which the Payment Default is cured or waived or ceases to exist, or 

(3) in the case of a Non-Payment Default, the earlier of (a) the date upon which such Non-Payment Default is cured, waived
or ceases to exist or (b) 179 days after the date on which the applicable Payment Blockage Notice is received by the Trustee, 

  
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 unless this Article 15 otherwise prohibits the payment or distribution at such time. 

Upon any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon
any dissolution or winding-up or liquidation or reorganization of the Company, whether voluntary or involuntary or in bankruptcy, insolvency, reorganization, liquidation, receivership or other proceedings, or upon an assignment for the benefit of
creditors or any marshalling of the assets and liabilities of the Company, or otherwise, all amounts due or to become due upon all Senior Debt shall first be paid in full in cash or other payment satisfactory to the holders of such Senior Debt, or
payment thereof in accordance with its terms provided for in cash or other payment satisfactory to the holders of such Senior Debt, before any payment is made on account of the principal of, premium, if any, or interest on the Securities (except
payments made pursuant to Article 4 from monies deposited with the Trustee pursuant thereto prior to commencement of proceedings for such dissolution, winding-up, liquidation, reorganization, assignment for the benefit of creditors or the
marshalling of assets and liabilities of the Company); and upon any such dissolution, winding-up, liquidation, reorganization, assignment for the benefit of creditors or marshalling of assets and liabilities of the Company or bankruptcy, insolvency,
receivership or other proceeding, any payment by the Company, or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Holders of the Securities or the Trustee would be entitled, except
for the provision of this Article 15, shall (except as aforesaid) be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the Holders of the
Securities or by the Trustee under this Indenture if received by them or it, directly to the holders of Senior Debt (pro rata to such holders on the basis of the respective amounts of Senior Debt held by such holders, or as otherwise required by law
or a court order) or their Representative or Representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior Debt may have been issued, as their respective interests may appear, to the
extent necessary to pay all Senior Debt in full, in cash or other payment satisfactory to the holders of such Senior Debt, after giving effect to any concurrent payment or distribution to or for the holders of Senior Debt, before any payment or
distribution or provision therefor is made to the Holders of the Securities or to the Trustee. 
 For purposes of this Article 15, the
words, “cash, property or securities” shall not be deemed to include shares of stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or
readjustment, the payment of which is subordinated at least to the extent provided in this Article 15 with respect to the Securities to the payment of all Senior Debt which may at the time be outstanding; provided that (i) the
Senior Debt is assumed by the new corporation, if any, resulting from any reorganization or readjustment, and (ii) the rights of the holders of Senior Debt (other than leases which are not assumed by the Company or the new corporation, as the
case may be) are not, without the consent of such holders, altered by such reorganization or readjustment. The consolidation of the Company with, or the merger of the Company into, another corporation or the liquidation or dissolution of the Company
following the conveyance or transfer of its property as an entirety, or substantially as an entirety, to another corporation upon the terms and 

  
 71 

 
conditions provided for in Article 8 shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 15.2 if such other corporation shall,
as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in Article 8. 
 In the event of the
acceleration of the Securities because of an Event of Default, no payment or distribution shall be made to the Trustee or any Holder of Securities in respect of the principal of, premium, if any, or interest on the Securities (including, but not
limited to, the redemption price with respect to the Securities called for redemption in accordance with Article 11 as provided in the Indenture), except payments and distributions made by the Trustee as permitted by the first or second
paragraph of Section 15.5, until all Senior Debt has been paid in full in cash or other payment satisfactory to the holders of Senior Debt or such acceleration is rescinded in accordance with the terms of this Indenture. If payment of the
Securities is accelerated because of an Event of Default, the Company shall promptly notify holders of Senior Debt of the acceleration. 

In the event that, notwithstanding the foregoing provisions, any payment or distribution of assets of the Company of any kind or character,
whether in cash, property or securities (including, without limitation, by way of setoff or otherwise), prohibited by the foregoing, shall be received by the Trustee or the Holders of the Securities before all Senior Debt is paid in full in cash or
other payment satisfactory to the holders of such Senior Debt, or provision is made for such payment thereof in accordance with its terms in cash or other payment satisfactory to the holders of such Senior Debt, such payment or distribution shall be
held in trust for the benefit of and shall be paid over or delivered to the holders of Senior Debt or their Representative or Representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior
Debt may have been issued, as their respective interests may appear, as calculated by the Company, for application to the payment of all Senior Debt remaining unpaid to the extent necessary to pay all Senior Debt in full in cash or other payment
satisfactory to the holders of such Senior Debt, after giving effect to any concurrent payment or distribution to or for the holders of such Senior Debt. 

Nothing in this Section 15.2 shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.7. This
Section 15.2 shall be subject to the further provisions of Section 15.5. 
 Section 15.3 Subrogation of Securities. 

Subject to the payment in full of all Senior Debt, the rights of the Holders of the Securities shall be subrogated to the extent of the
payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article 15 (equally and ratably with the holders of all indebtedness of the Company which by its express terms is subordinated to other
indebtedness of the Company to substantially the same extent as the Securities are subordinated and is entitled to like rights of subrogation) to the rights of the holders of Senior Debt to receive payments or distributions of cash, property or
securities of the Company applicable to the Senior Debt until the principal, premium, if any, and interest on the Securities shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders of the Senior
Debt of any cash, property or securities to which the Holders of the Securities or the Trustee 

  
 72 

 
would be entitled except for the provisions of this Article 15, and no payment over pursuant to the provisions of this Article 15, to or for the benefit of the holders of Senior Debt by
Holders of the Securities or the Trustee, shall, as between the Company, its creditors other than holders of Senior Debt, and the Holders of the Securities, be deemed to be a payment by the Company to or on account of the Senior Debt; and no
payments or distributions of cash, property or securities to or for the benefit of the Holders of the Securities pursuant to the subrogation provisions of this Article 15, which would otherwise have been paid to the holders of Senior Debt shall
be deemed to be a payment by the Company to or for the account of the Securities. It is understood that the provisions of this Article 15 are and are intended solely for the purposes of defining the relative rights of the Holders of the
Securities, on the one hand, and the holders of the Senior Debt, on the other hand. 
 Nothing contained in this Article 15 or
elsewhere in this Indenture or in the Securities is intended to or shall impair, as among the Company, its creditors other than the holders of Senior Debt, and the Holders of the Securities, the obligation of the Company, which is absolute and
unconditional, to pay to the Holders of the Securities the principal of (and premium, if any) and interest on the Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the
relative rights of the Holders of the Securities and creditors of the Company other than the holders of the Senior Debt, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise
permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article 15 of the holders of Senior Debt in respect of cash, property or securities of the Company received upon the exercise of any such
remedy. 
 Upon any payment or distribution of assets of the Company referred to in this Article 15, the Trustee, subject to the
provisions of Section 6.1, and the Holders of the Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such bankruptcy, dissolution, winding-up, liquidation or reorganization
proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidating trustee, agent or other person making such payment or distribution, delivered to the Trustee or to the Holders of the Securities, for the purpose of
ascertaining the persons entitled to participate in such distribution, the holders of the Senior Debt and other indebtedness of the Company, the amount thereof or payable thereon and all other facts pertinent thereto or to this Article 15. 

Section 15.4 Authorization to Effect Subordination. 

Each Holder of a Security by the holder’s acceptance thereof authorizes and directs the Trustee on the holder’s behalf to take such
action as may be necessary or appropriate to effectuate the subordination as provided in this Article 15 and appoints the Trustee to act as the holder’s attorney-in-fact for any and all such purposes. If the Trustee does not file a proper
proof of claim or proof of debt in the form required in any proceeding referred to in Section 5.4 hereof at least 30 days before the expiration of the time to file such claim, the holders of any Senior Debt or their representatives are
hereby authorized to file an appropriate claim for and on behalf of the Holders of the Securities. 

  
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 Section 15.5 Notice to Trustee. 

The Company shall give prompt written notice in the form of an Officers’ Certificate to a Responsible Officer of the Trustee and to any
Paying Agent of any fact known to the Company which would prohibit the making of any payment of monies to or by the Trustee or any Paying Agent in respect of the Securities pursuant to the provisions of this Article 15. Notwithstanding the
provisions of this Article 15 or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the making of any payment of monies to or by the Trustee in respect of
the Securities pursuant to the provisions of this Article 15, unless and until a Responsible Officer of the Trustee shall have received written notice thereof at the Corporate Trust Office from the Company (in the form of an Officers’
Certificate) or a Representative or a holder or holders of Senior Debt or from any trustee therefor; and before the receipt of any such written notice, the Trustee, subject to the provisions of Section 6.1, shall be entitled in all respects to
assume that no such facts exist; provided that if on a date not fewer than two Business days prior to the date upon which by the terms hereof any such monies may become payable for any purpose (including, without limitation, the payment
of the principal of, or premium, if any, or interest on any Security) the Trustee shall not have received, with respect to such monies, the notice provided for in this Section 15.5, then, anything herein contained to the contrary
notwithstanding, the Trustee shall have full power and authority to receive such monies and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or
after such prior date. 
 Notwithstanding anything in this Article 15 to the contrary, nothing shall prevent any payment by the Trustee
to the Holders of monies deposited with it pursuant to Section 4.1, and any such payment shall not be subject to the provisions of Section 15.1 or 15.2. 

The Trustee, subject to the provisions of Section 6.1, shall be entitled to rely on the delivery to it of a written notice by a
Representative or a person representing himself to be a holder of Senior Debt (or a trustee on behalf of such holder) to establish that such notice has been given by a Representative or a holder of Senior Debt or a trustee on behalf of any such
holder or holders. The Trustee shall not be required to make any payment or distribution to or on behalf of a holder of Senior Debt pursuant to this Article 15 unless it has received satisfactory evidence as to the amount of Senior Debt held by
such person, the extent to which such person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such person under this Article 15. 

Section 15.6 Trustee’s Relation to Senior Debt. 

The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article 15 in respect of any Senior Debt at
any time held by it, to the same extent as any other holder of Senior Debt, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder. 

With respect to the holders of Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are
specifically set forth in this Article 15, and no implied covenants or obligations with respect to the holders of Senior Debt shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to
the holders of Senior Debt and, subject to the provisions of Section 6.1, the Trustee shall 

  
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not be liable to any holder of Senior Debt (i) for any failure to make any payments or distributions to such holders or (ii) if it shall pay over or deliver to Holders of Securities,
the Company or any other Person money or assets to which any holder of Senior Debt shall be entitled by virtue of this Article 15 or otherwise. 

Section 15.7 No Impairment of Subordination. 

No right of any present or future holder of any Senior Debt to enforce subordination as herein provided shall at any time in any way be
prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company, the Trustee or any Holder of Securities with the terms,
provisions and covenants of this Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charged with. 

Section 15.8 Certain Conversions/Exchanges Deemed Payment. 

For the purposes of this Article 15 only, (1) the issuance and delivery of junior securities upon conversion or exchange of
Securities in accordance with Article 14 or otherwise (except upon conversion of the Securities in accordance with their terms) shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or
interest on Securities or on account of the purchase or other acquisition of Securities, and (2) the payment, issuance or delivery of cash (except in satisfaction of fractional shares pursuant to Section 14.3), property or securities
(other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such Security. For the purposes of this Section 15.8, the term “junior securities” means
(a) shares of any stock of any class of the Company, or (b) securities of the Company which are subordinated in right of payment to all Senior Debt which may be outstanding at the time of issuance or delivery of such securities to
substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article. Nothing contained in this Article 15 or elsewhere in this Indenture or in the Securities is intended to or shall
impair, as among the Company, its creditors other than holders of Senior Debt and the Holders of Securities, the right, which is absolute and unconditional, of the Holder of any Security to convert such Security in accordance with Article 14.

 Section 15.9 Article Applicable to Paying Agents. 

If at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the term
“Trustee” as used in this Article shall (unless the context otherwise requires) be construed as extending to and including such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent were named in
this Article in addition to or in place of the Trustee; provided, however, that the first paragraph of Section 15.5 shall not apply to the Company or any Affiliate of the Company if the Company or such Affiliate acts as Paying
Agent. 
 The Trustee shall not be responsible for the actions or inactions of any other Paying Agents (including the Company if acting as
its own Paying Agent) and shall have no control of any funds held by such other Paying Agents. 

  
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 Section 15.10 Senior Debt Entitled to Rely. 

The holders of Senior Debt (including, without limitation, Designated Senior Debt) shall have the right to rely upon this Article 15, and
no amendment or modification of the provisions contained herein shall diminish the rights of such holders unless such holders shall have agreed in writing thereto. 

Section 15.11 Reliance on Judicial Order or Certificate of Liquidating Agent. 

Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee and the Holders shall be entitled to rely
upon any order or decree entered by any court of competent jurisdiction in which such dissolution, winding up, liquidation, reorganization, assignment for the benefit of creditors or marshalling of assets and liabilities of the Company or
bankruptcy, insolvency, receivership or other like proceeding is pending, or a certificate of the trustee in bankruptcy, liquidating trustee, custodian, receiver, assignee for the benefit of creditors, agent or other person making such payment or
distribution, delivered to the Trustee or to the Holders, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of Senior Debt and other indebtedness of the Company, the amount thereof or
payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article. 
 Section 15.12 Trust
Monies Not Subordinated. 
 Notwithstanding anything contained herein to the contrary, payments from money,
U.S. Government Obligations and/or Foreign Government Obligations held in trust under Article 4 or Article 13 by the Trustee for the payment of the principal of, premium, if any, and interest on the Securities shall not be
subordinated to the prior payment in full of any Senior Debt of the Company or subject to the restrictions set forth in this Article 15, and none of the Holders shall be obligated to pay over any such amount to the Company or any holder of
Senior Debt of the Company or any other creditor of the Company. 
 [Remainder of page intentionally left blank] 

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

			
	Varian Medical Systems, Inc.
		
	By:	 	      

			
		
	Title:	 	      

 

			
	                        , as
Trustee

 
			
		
	By:	 	      

			
		
	Title:	 	      

  
 77EX-10.1

 EXECUTION VERSION 

RESTRUCTURING SUPPORT AGREEMENT 

This RESTRUCTURING SUPPORT AGREEMENT (as amended, supplemented, or otherwise modified from time to time in accordance with the terms hereof,
this “Agreement”1), dated as of November 28, 2017, is entered into by and among the following parties: 

 

	 	i.	the Company;2 and 

  

	 	ii.	the undersigned Holders of Lender Claims (each as defined below), collectively with their respective successors and permitted assigns and any subsequent holder of Lender Claims that becomes party hereto in accordance
with the terms hereof, the “Consenting Lenders”). 

 The Company and each Consenting Lender, and any
subsequent person or entity that becomes a party hereto in accordance with the terms hereof, are referred to herein as the “Parties” and individually as a “Party.” Each Consenting Lender intends to be and is bound
under this Agreement with respect to any and all claims against, or interests in, the Company whether currently held or hereafter acquired, by such Consenting Lender. 

WHEREAS, the Parties and their respective professionals have negotiated a restructuring and recapitalization transaction (the
“Restructuring,” and the transactions contemplated thereby, the “Restructuring Transactions”) that will be implemented and consummated pursuant to a chapter 11 plan of reorganization (as may be modified in
accordance with Section 10 hereof, the “Plan”), the terms of which shall be consistent in all respects with those set forth in this Agreement, the term sheet attached hereto as Exhibit A (the
“Term Sheet”3), the DIP Documents (as defined below), and the Definitive Documents (as defined 
  

 
  

	1 	Each of the exhibits attached hereto and any schedules to such exhibits (collectively, the “Exhibits and Schedules”) is expressly incorporated herein and made a part of this Agreement, and all
references to this Agreement shall include the Exhibits and Schedules. In the event of any inconsistency between this Agreement (without reference to the Exhibits and Schedules) and the Exhibits and Schedules, this Agreement (without reference to
the Exhibits and Schedules) shall govern; provided, however, that to the extent there is a conflict among the Exhibits and Schedules, the conflicting term of the Term Sheet shall control and govern. 

	2 	The “Company” or the “Debtors” shall mean, collectively, (i) Patriot National, Inc., a Delaware corporation, (ii) Patriot Services, LLC, a Delaware limited liability company,
(iii) Contego Investigative Services, Inc., a Delaware corporation, (iv) Corporate Claims Management, Inc., a Delaware corporation, (v) CWI Benefits, Inc., a Delaware corporation, (vi) Forza Lien, LLC, a Delaware limited
liability company, (vii) Radar Post-Closing Holding Company, Inc. (f/k/a Global HR Research, Inc.), a Delaware corporation, (viii) Patriot Audit Services, LLC, a Delaware limited liability company, (ix) Patriot Captive Management,
LLC, a Delaware limited liability company, (x) Patriot Care Management, LLC, a Delaware limited liability company, (xi) Patriot Claim Services, Inc., a Delaware corporation, (xii) Patriot Risk Consultants, LLC, a Delaware limited
liability company, (xiii) Patriot Risk Services, Inc., a Delaware corporation, (xiv) Patriot Technology Solutions, LLC, a Delaware limited liability company, (xv) Patriot Underwriters, Inc., a Delaware corporation, (xvi) TriGen
Insurance Solutions, Inc., a Delaware corporation, (xvii) TriGen Hospitality Group, Inc., a Delaware corporation, (xviii) Contego Services Group, LLC, a Delaware limited liability company, and (xix) Decision UR, LLC, a California
limited liability company. 

	3 	 Capitalized terms used and not defined herein shall have the meanings ascribed to such terms in the Term Sheet.
The Term Sheet is expressly incorporated herein by reference and made a part of this Agreement as if fully set forth herein. The Term Sheet sets forth the material terms and conditions of the Restructuring Transactions; provided,
however, that the Term Sheet is supplemented by the terms and conditions of this Agreement. In the event of any inconsistency between the Term Sheet and this Agreement, this Agreement shall control.

 
below) to be filed in cases (the “Chapter 11 Cases”) commenced under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United
States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”); 
 WHEREAS, as of the date hereof,
the Debtors have debt outstanding under that certain Financing Agreement, dated as of November 9, 2016, by and among (i) Patriot National, Inc., as Borrower, and each of its subsidiaries party thereto, as guarantors, (ii) the lenders
from time to time party thereto (the “Lenders”), and (iii) Cerberus Business Finance, LLC , as Collateral Agent and Administrative Agent (in such capacities, the “Agents”) (as amended, modified, or otherwise
supplemented from time to time prior to the date hereof, the “Financing Agreement,” and the claims and other obligations arising thereunder, the “Lender Claims”), as further set forth in the Term Sheet; 

WHEREAS, as of the date hereof, the Consenting Lenders beneficially own or control (with sole investment or voting discretion) 100% of
the aggregate outstanding principal amount of the Lender Claims; 
 WHEREAS, the Debtors have requested, and the Lenders or their
affiliates have agreed to provide (i) a debtor-in-possession financing facility in an amount to be determined based on cash flow projections to be provided by the
Company to, and in form and substance acceptable to, the Consenting Lenders (the “DIP Facility”); and (ii) consent to the Company’s use of cash collateral, which DIP Facility and use of cash collateral will be in
accordance with the terms and conditions set forth in that certain Senior Secured Super-Priority Debtor-in-Possession Financing Agreement (the “DIP
Agreement”) and the DIP Orders (the DIP Orders, collectively with the DIP Agreement and any documents related thereto, the “DIP Documents”); 

WHEREAS, prior to the commencement of the Chapter 11 Cases, the Company and the Consenting Lenders initially party hereto engaged in arm’s-length, good-faith negotiations, culminating in the Parties’ agreement on the terms of the Plan, as more particularly detailed and described herein, in the Term Sheet, and in the DIP Documents, that
will be implemented through the commencement of the Chapter 11 Cases and the filing by the Company of voluntary petitions with the Bankruptcy Court (the date of such filing, the “Petition Date”) on a date to be agreed by the Company
and the Consenting Lenders after the Agreement Effective Date; and 
 WHEREAS, the Parties are prepared to perform their obligations
hereunder, subject to the terms and conditions hereof. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants
and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound hereunder, do agree as follows: 

	 	1.	Effectiveness. 

 This Agreement shall be effective and binding with respect to
each of the Parties at the time at which (i) the Company shall have executed and delivered counterpart signature pages of this Agreement to counsel to the Consenting Lenders and (ii) the Consenting Lenders shall have executed and delivered
counterpart signature pages of this Agreement to counsel to the Company (the “Agreement Effective Date”). 
  

	 	2.	Certain Definitions. 

 As used in this Agreement, the following terms have the
following meanings: 
 (a)    “Confirmation Order” means the order confirming the Plan. 

(b)    “Definitive Documents” means all documents (including any related orders, agreements,
instruments, schedules, or exhibits) that are contemplated by the Plan and that are otherwise necessary or desirable to implement, effectuate, or otherwise relate to the Restructuring, including, without limitation: (i) the Plan; (ii) the
documents to be filed in the supplement to the Plan; (iii) the Disclosure Statement; (iv) the Disclosure Statement Motion and the Disclosure Statement Order; (v) the Confirmation Order; (vi) any documentation relating to the use
of cash collateral and the DIP Facility, including motions seeking authority to use cash collateral and obtain the DIP Facility, any DIP Orders, and the DIP Documents; (vii) any organizational documents, shareholder and member related
agreements, or other governance documents for the reorganized Company; (viii) the Equity Purchase Agreement; and (ix) such other documents or agreements as may be reasonably necessary to implement the Restructuring contemplated by this
Agreement and the Term Sheet. 
 (c)    “Disclosure Statement” means the disclosure statement
for the Plan that is prepared and distributed in accordance with sections 1125, 1126(b), and 1145 of the Bankruptcy Code (as the same may be amended from time to time). 

(d)    “Disclosure Statement Motion” means the motion seeking approval of the Disclosure
Statement. 
 (e)    “Disclosure Statement Order” means the order approving the Disclosure
Statement. 
 (f)    “Equity Purchase Agreement” means the agreement setting forth the terms and
conditions upon which the Lenders will convert a portion of the Lender Claims in consideration for the issuance by reorganized Patriot National, Inc. and each of the other Debtors of 100% of the equity interests therein. 

(g)    “Final DIP Order” means one or more final orders entered by the Bankruptcy Court
authorizing the Debtors to enter into the DIP Facility. 
 (h)    “DIP Orders” means the Final
DIP Order and Interim DIP Order, collectively. 

  
 3 

 (i)    “Holder” means any individual, partnership,
joint venture, firm, or corporation that beneficially owns or controls (with sole investment or voting discretion) Lender Claims. 

(j)    “Interim DIP Order” means one or more interim orders entered by the Bankruptcy Court
authorizing the Debtors to enter into the DIP Facility on an interim basis. 
 (k)    “Plan Effective
Date” means the effective date of the Plan. 
 (l)    “Plan Support Period” means
the period commencing on the Agreement Effective Date and ending on the earlier of the (i) date on which this Agreement is terminated in accordance with Section 6 hereof and (ii) the Plan Effective Date. 

 

	 	3.	Definitive Documents. 

 Each of the Definitive Documents shall (A) contain
terms and conditions consistent in all material respects with this Agreement, the Term Sheet, and the DIP Documents and (B) shall otherwise be reasonably satisfactory in all respects to the Company and the Consenting Lenders, including with
respect to any modifications, amendments, deletions, or supplements to such Definitive Documents at any time during the Plan Support Period. 
  

	 	4.	Agreements of the Consenting Lenders. 

 (a)    During the Plan
Support Period, subject to the terms and conditions hereof, each Consenting Lender agrees, solely with respect to itself, that: 

(i)    it will use commercially reasonable efforts to support the Restructuring and the transactions contemplated by the
Term Sheet, as applicable, and to act in good faith and take all commercially reasonable actions necessary to consummate the Restructuring and the Restructuring Transactions in a manner consistent with this Agreement, including the timelines set
forth herein; 
 (ii)    it shall not (A) direct the Agents to take any action inconsistent with such Consenting
Lender’s obligations under this Agreement, or (B) directly or indirectly encourage any other person or entity to directly or indirectly, (x) object to, delay, impede, or take any other action or any inaction to interfere with the
acceptance, approval, implementation, consummation, or amendment of the Plan (whether before or after confirmation, provided that such amendment is consistent with this Agreement); (y) propose, file, support, vote for, or take any other
action in furtherance of any restructuring, workout, plan of arrangement, or plan of reorganization for the Company that is inconsistent with this Agreement, the DIP Documents, the Term Sheet, or the Plan, as applicable; or (z) exercise any
right or remedy for the enforcement, collection, or recovery of any claim against the Company except in a manner consistent with this Agreement, the DIP Orders, and the Plan, as applicable; 

(iii)    subject to the receipt of the Disclosure Statement pursuant to the Disclosure Statement Order, it shall
(A) timely vote or cause to be voted any Lender Claims it holds to accept the Plan by timely delivering its duly executed and completed ballot or ballots, as applicable, accepting the Plan on a timely basis following commencement of the
solicitation of 

  
 4 

 
acceptances of the Plan in accordance with sections 1125(g) and 1126 of the Bankruptcy Code; and (B) not change or withdraw such vote or the elections described above (or cause or direct
such vote or elections to be changed or withdrawn); provided, however, that such vote or elections shall be immediately revoked (and deemed void ab initio) by all Consenting Lenders upon the expiration of the Plan Support
Period or the termination of this Agreement; and 
 (iv)    use commercially reasonable efforts to support, and take
all commercially reasonable actions necessary to facilitate, the approval of the Disclosure Statement, solicitation of votes on the Plan, and confirmation and consummation of the Plan. 

(b)    Transfers. During the Plan Support Period, subject to the terms and conditions hereof, each Consenting
Lender agrees, solely with respect to itself, that it shall not sell, use, assign, convey, grant, transfer, permit the participation in, or otherwise dispose of, in whole or in part (each, a “Transfer”), any ownership (including any
beneficial ownership) in the Lender Claims, that it holds (collectively, for purposes of this Section 4, the “Consenting Lender Claims”),4 or any option
thereon or any right or interest therein (including, but not limited to, accomplishing the same, by granting any proxies or depositing any interests in the Consenting Lender Claims into a voting trust or by entering into a voting agreement with
respect to the Consenting Lender Claims), unless (i) the intended transferee is a Consenting Lender or (ii) if the intended transferee is not a Consenting Lender, such intended transferee executes and delivers to counsel to the Company on
the terms set forth below an executed transfer agreement in the form attached hereto as Exhibit B (a “Transfer Agreement”) before such Transfer is effective (it being understood and agreed by the Parties that any such
Transfer shall not be effective as against the Company until notification of such Transfer and a copy of the executed, unaltered, and unredacted Transfer Agreement is received by counsel to the Company, in each case, on the terms set forth herein)
(such transfer, a “Permitted Transfer” and such party to such Permitted Transfer, a “Permitted Transferee”), in which event (I) the transferee (including the Consenting Lender transferee, if applicable) shall
be deemed to be a Consenting Lender hereunder to the extent of such transferred rights and obligations, and (II) the transferor shall be deemed to relinquish its rights (and be released from its obligations) under this Agreement to the extent
of such transferred rights and obligations. Notwithstanding anything herein to the contrary, during the Plan Support Period, each Consenting Lender may offer, sell, or otherwise transfer any or all of its holdings of Lender Claims to any entity
that, as of the date of transfer, controls, is controlled by, or is under common control with such Consenting Lender; provided, however, that such entity shall automatically be subject to the terms of this Agreement and deemed a
Consenting Lender hereunder, and shall execute a Transfer Agreement. 
 (i)    Notwithstanding anything to the contrary
herein, (A) the foregoing provisions shall not preclude any Consenting Lender from settling or delivering any Consenting Lender Claims to settle any confirmed transaction pending as of the date of such Consenting Lender’s entry into this
Agreement (subject to compliance with applicable securities laws and it being understood that such Consenting Lender Claims so acquired and held (i.e., not as a part of a short transaction) shall be subject to the terms of this Agreement), (B) a
Qualified 
  

	4 	 As used herein, the term “beneficial ownership” means the direct or indirect economic ownership
of, and/or the power, whether by contract or otherwise, to direct the exercise of the voting rights and the disposition of, all or any portion of the Consenting Lender Claims or the right to acquire any such Consenting Lender Claims.

  
 5 

 
Marketmaker5 that acquires any Consenting Lender Claims with the purpose and intent of acting as a Qualified Marketmaker for such Consenting
Lender Claims, shall not be required to execute and deliver to counsel a Transfer Agreement or otherwise agree to be bound by the terms and conditions set forth in this Agreement if the transfer otherwise is a Permitted Transfer; provided,
however, that if any of the conditions in this clause (B) is not satisfied, the Qualified Marketmaker will be required to execute and deliver a Transfer Agreement, and (C) to the extent any Party is acting solely in its capacity as
a Qualified Marketmaker, it may Transfer any ownership interests in the Consenting Lender Claims (as applicable) that it acquires from a holder of the Consenting Lender Claims that is not a Consenting Lender to a transferee that is not a Consenting
Lender at the time of such Transfer without the requirement that the transferee be or become a signatory to this Agreement or execute a Transfer Agreement; provided, however, that in the event such Party fails to act solely in its
capacity as a Qualified Marketmaker in compliance with this clause (C), any transferee that is not a Consenting Lender must execute and deliver a Transfer Agreement. 

(ii)    This Agreement shall in no way be construed to preclude any Consenting Lender from acquiring additional
Consenting Lender Claims; provided, however, that (A) any Consenting Lender that acquires additional Consenting Lender Claims during the Plan Support period shall promptly notify counsel to the Company and counsel to the
Consenting Lenders of such acquisition, including the amount of such acquisition, and (B) such acquired Consenting Lender Claims shall automatically and immediately upon acquisition by a Consenting Lender be deemed subject to the terms of this
Agreement (regardless of when or whether notice of such acquisition is given to the Company), in the case of each of clauses (A) and (B), other than with respect to any Consenting Lender Claims acquired by such Consenting Lender in its capacity
as a Qualified Marketmaker, in accordance with Section 4(b)(i). 
 (iii)    This
Section 4 shall not impose any obligation on the Company to issue any “cleansing letter” or otherwise publicly disclose information for the purpose of enabling a Consenting Lender to Transfer any Consenting Lender
Claims. Notwithstanding anything to the contrary herein, to the extent the Company and another Party have entered into a separate agreement with respect to the issuance of a “cleansing letter” or other public disclosure of information
(each such executed agreement, a “Confidentiality Agreement”), the terms of such Confidentiality Agreement shall continue to apply and remain in full force and effect according to its terms. 

(iv)    Any Transfer made in violation of this Section 4(b) shall be void ab
initio. 
  

	5 	As used herein, the term “Qualified Marketmaker” means an entity that (a) holds itself out to the public or the applicable private markets as standing ready in the ordinary course of business to
purchase from customers and sell to customers claims against the Company (or enter with customers into long and short positions in claims against the Company), in its capacity as a dealer or market maker in claims against the Company and
(b) is, in fact, regularly in the business of making a market in claims against issuers or borrowers (including debt securities or other debt). 

  
 6 

	 	5.	Agreements of the Company. 

 (a)    Subject to the terms and
conditions hereof, including Section 6(c)(iii), prior to and during the Plan Support Period, the Company agrees that it shall, without limitation: 

(i)    (A)(1) complete and file, within the timeframes contemplated herein, the Plan, the Disclosure Statement, and the
other Definitive Documents and (2) use commercially reasonable efforts to obtain entry by the Bankruptcy Court of the DIP Orders, the Disclosure Statement Order, and the Confirmation Order within the timeframes contemplated by this Agreement;
and (B) use commercially reasonable efforts to obtain any and all required regulatory and/or third-party approvals for the Restructuring embodied in the Plan, if any, and solely to the extent necessary to effectuate the Restructuring; 

(ii)    continue to operate its businesses without material change in such operations or disposition of material assets
(in each case, unless the Consenting Lenders have expressly consented thereto in writing) in accordance with its business judgment, and confer with the Consenting Lenders and their respective representatives, as reasonably requested, to report on
operational matters and the general status of ongoing operations. For the avoidance of doubt, Consenting Lenders hereby consent to the reduction in force implemented by the Company on November 22, 2017; 

(iii)    (A) support and take all reasonable actions necessary or reasonably requested by the Consenting Lenders to
facilitate the solicitation, confirmation, and consummation of the Restructuring, the Plan, and the transactions contemplated thereby, (B) not take any action directly or indirectly that is inconsistent with, or that would reasonably be
expected to prevent, interfere with, delay, or impede the approval of the Disclosure Statement, the solicitation of votes on the Plan, and the confirmation and consummation of the Plan and the Restructuring, including soliciting, causing, or
allowing any of its agents or representatives to solicit any agreements relating to any chapter 11 plan or restructuring transaction (including, for the avoidance of doubt, a transaction premised on an asset sale of substantially all of the
Company’s assets under section 363 of the Bankruptcy Code) other than the Restructuring (an “Alternative Transaction”), except without the express written consent of the Consenting Lenders and (C) (x) not, nor encourage
any other person to, take any action which would, or would reasonably be expected to, breach or be inconsistent with this Agreement or delay, impede, appeal, or take any other negative action, directly or indirectly, or encourage any other entity to
interfere with the acceptance or implementation of the Restructuring, and (y) in the event any other person takes any action described in the preceding clause (x), take all steps reasonably necessary to affirmatively contest such action and/or
object thereto, including, without limitation, timely filing a formal written response in opposition thereto with the Bankruptcy Court; 

(iv)    (A) provide (x) draft copies of all first day motions or applications and other documents that the Company
intends to file with the Bankruptcy Court on the Petition Date at least three (3) calendar days prior to the Petition Date, and (y) draft copies of all other material motions and applications that the Company intends to file with the
Bankruptcy Court after the Petition Date, in each case, to counsel to the Consenting Lenders at least three (3) calendar days prior to the date on which the Company intends to file such documents, provided,

  
 7 

 
that where exigent circumstances may require the filing of such motion or application on an expedited basis, such draft copies shall be provided within such period as may be reasonable in such
circumstances. In any event, final filing versions of such documents shall be reasonably acceptable, in form and substance, to the Consenting Lenders or otherwise amended to be reasonably acceptable, in form and substance, to the Consenting Lenders
upon the Company receiving notice that any final filing versions were not reasonably acceptable to the Consenting Lenders; 

(B)    file on the Petition Date such first day motions and pleadings that are reasonably acceptable in form and
substance, to the Consenting Lenders; 
 (C)     (i) file the Plan, the Disclosure Statement (other than any exhibits
attached thereto), and the Disclosure Statement Motion with the Bankruptcy Court within 21 calendar days of the Petition Date (the “Plan Filing Date”); (ii) obtain approval of the Disclosure Statement Motion within 40 calendar days
of the Plan Filing Date, and (iii) obtain entry of the Confirmation Order within 90 calendar days of the Plan Filing Date (such date that the Confirmation Order is entered, the “Confirmation Date”); 

(D)    seek a Confirmation Order that becomes effective and enforceable immediately upon its entry and seek to have the
period in which an appeal thereto must be filed commence immediately upon its entry; 
 (v)    obtain authority,
pursuant to the DIP Orders, to pay all pre- and postpetition reasonable and documented (in summary form) fees and expenses of (A) Schulte Roth & Zabel LLP, as counsel to the Consenting Lenders
and as counsel to the Agents, (B) Landis Rath & Cobb LLP, as local counsel to the Consenting Lenders and as counsel to the Agents, and (C) such other advisors and consultants as the Consenting Lenders and Agents may engage from
time to time (including internal or affiliated consulting or advisory providers); 
 (vi)     maintain their good
standing under the laws of the states in which they are incorporated or organized; 
 (vii)    timely file with the
Bankruptcy Court or any other applicable United States court a formal written objection to any motion filed with the Bankruptcy Court or any other court by any party seeking the entry of an order (A) directing the appointment of an examiner
with expanded powers or a trustee in any of the Chapter 11 Cases, (B) converting any of the Chapter 11 Cases to cases under chapter 7 of the Bankruptcy Code, (C) dismissing any of the Chapter 11 Cases, (D) modifying or terminating the
Company’s exclusive right to file and/or solicit acceptances of a plan of reorganization, or (E) granting any relief inconsistent with this Agreement and the Definitive Documents; 

(viii)    provide to the Consenting Lenders and/or their respective professionals, upon reasonable advance notice to the
Company, (A) reasonable access to the respective management and advisors of the Company for the purposes of evaluating the Company’s finances and operations and participating in the planning process with respect to the Restructuring; and
(B) timely and reasonable responses to all diligence requests; 

  
 8 

 (ix)    use their commercially reasonable efforts to preserve intact in all
material respects their current business organizations, keep available the services of their current officers and material employees (in each case, other than voluntary resignations, terminations for cause, or terminations consistent with applicable
fiduciary duties, or as otherwise agreed to in writing by the Consenting Lenders), and preserve in all material respects their relationships with customers, sales representatives, suppliers, distributors, and others, in each case, having material
business dealings with the Company (other than terminations for cause or consistent with applicable fiduciary duties). For the avoidance of doubt, the actions of the Office of Insurance Regulation and Department of Financial Services relative to
Guarantee Insurance Company and the associated impact on the Company shall not constitute a breach of the covenant set forth in this clause (ix); 

(x)    provide prompt written notice to the Consenting Lenders between the date hereof and the Plan Effective Date of
(A) the occurrence, or failure to occur, of any event of which the Company knows (or, upon reasonable inquiry, should have known), which occurrence or failure would be likely to cause (1) any covenant of the Company contained in this
Agreement not to be satisfied or (2) any condition precedent contained in the Plan or this Agreement not to timely occur or become impossible to satisfy, (B) receipt of any notice from any third-party alleging that the consent of such
party is or may be required in connection with the transactions contemplated by the Restructuring, (C) receipt of any notice from any governmental unit (including, without limitation, any regulatory agency) with jurisdiction over all or any
portion of the Company’s business or operations, or in connection with this Agreement or the transactions contemplated by the Restructuring, (D) receipt of any notice of any proceeding commenced, or, to the actual knowledge of the Company,
threatened against the Company, relating to or involving or otherwise affecting in any material respect the transactions contemplated by the Restructuring, and (E) any failure of the Company to comply, in any material respect, with or satisfy
any covenant, condition, or agreement to be complied with or satisfied by it hereunder; 
 (xi)    to the extent
permitted under applicable law and confidentiality obligations, promptly notify the other Parties in writing following the receipt, in writing, of notice of any material governmental, regulatory, or third-party complaints, litigations,
investigations, or hearings (or communications indicating that the same may be contemplated or threatened); 

(xii)    provide notice of any written or oral offer or proposal for an Alternative Transaction received by the Company
or its advisors, together with copies of any and all documents relating thereto, to the advisors to counsel to the Consenting Lenders, within one (1) business day of the Company’s or their advisors’ receipt thereof; and 

(xiii)    comply in all material respects with all covenants set forth in the Term Sheet. 

  
 9 

 (b)    Negative Covenants.    The Company agrees
that, for the duration of the Plan Support Period, the Company shall not take any action inconsistent with, or omit to take any action required by, this Agreement, the Plan, or any of the other Definitive Documents. The Company further agrees that
prior to and during the Plan Support Period, the Company shall not: (i) take any action that impairs or removes any interest or right the Consenting Lenders have in and to any collateral held or owned by the Company without the consent of the
Agents; (ii) make any transfers from and after the Agreement Effective Date and through the Plan Support Period to or for the account of insiders or affiliates in respect of antecedent debt; and (iii) other than voluntary departure or
termination for cause (or as otherwise agreed to in writing by the Consenting Lenders), change any of its chief executive officer, general counsel, chief restructuring officer, executive vice president of finance (once engaged) or any president or
vice president of the Company without immediate replacement with another qualified individual acceptable to Consenting Lenders. 

(c)    Automatic Stay.    The Company acknowledges and agrees and shall not dispute that after
the commencement of the Chapter 11 Cases, the giving of notice of termination by any Party pursuant to this Agreement shall not be a violation of the automatic stay of section 362 of the Bankruptcy Code (and the Company hereby waives, to the fullest
extent permitted by law, the applicability of the automatic stay as it relates to any such notice being provided). Notwithstanding anything to the contrary herein, following the commencement of the Chapter 11 Cases and unless and until there is an
unstayed order of the Bankruptcy Court providing that the giving of notice under and/or termination of this Agreement in accordance with its terms is not prohibited by the automatic stay imposed by section 362 of the Bankruptcy Code, the occurrence
of any of the termination events in Section 6(b), 6(d), or 6(e) shall result in an automatic termination of this Agreement, to the extent any of the Terminating Consenting Lenders (as defined below) would
otherwise have the ability to terminate this Agreement in accordance with Section 6(b), 6(d), or 6(e), five (5) calendar days following such occurrence unless waived in writing by all of the Terminating
Consenting Lenders. 
 (d)    Notwithstanding anything to the contrary herein, nothing in this Agreement shall require
the Company or any directors, officers, or members of the Company, each in its capacity as a director, officer, or member of the Company, to take any action, or to refrain from taking any action, to the extent inconsistent with its or their
fiduciary obligations under applicable law (as reasonably determined by them in good faith after consultation with legal counsel). 
  

	 	6.	Termination of Agreement. 

 (a)    Automatic
Termination.    This Agreement shall terminate automatically, without any further action required by any Party, upon the occurrence of any of the following events: (i) entry of an order denying confirmation of the Plan,
(ii) the occurrence of the Plan Effective Date, (iii) an order confirming the Plan is reversed or vacated, or (iv) any court of competent jurisdiction has entered a final, non-appealable
judgment or order declaring this Agreement to be unenforceable. 
 (b)    Consenting Lender Termination
Events.    This Agreement may be terminated by the Consenting Lenders (or the Agents acting at the direction of the Consenting Lenders) by the delivery to the Company of a written notice in accordance with
Section 19 hereof, upon the occurrence of any of the following events (each, a “Consenting Lender Termination Event”): 

  
 10 

 (i)    the Company fails to meet any of the Milestones as set forth herein
or in the Term Sheet; 
 (ii)    the breach by any Party other than the Terminating Consenting Lenders, of (A) any
affirmative or negative covenant contained in this Agreement or (B) any other obligations of such breaching Party set forth in this Agreement, in each case, in any material respect (without giving effect to any “materiality”
qualifiers set forth therein), and, in either respect, to the extent such breach would have a material adverse effect on the consummation of the Restructuring in accordance with the Term Sheet or the DIP Documents and which breach remains uncured
for a period of five (5) calendar days following such breaching Party’s receipt of notice pursuant to Section 19 hereof (as applicable); 

(iii)    the termination of the Equity Purchase Agreement by the Consenting Lenders in accordance with the terms thereof;

 (iv)    any representation or warranty in this Agreement made by the Company shall have been untrue in any material
respect when made or shall have become untrue in any material respect, or the Company violates any of the covenants herein, and such breach remains uncured for a period of ten (10) calendar days following the Company’s receipt of notice
pursuant to Section 19 hereof (as applicable); 
 (v)    the Company files any motion,
pleading, or related document with the Bankruptcy Court in a manner that is materially inconsistent with this Agreement, the DIP Documents, the Term Sheet, or the Plan, and such motion, pleading, or related document has not been withdrawn after
three (3) business days of the Company receiving written notice in accordance with Section 19 that such motion, pleading, or related document is materially inconsistent with this Agreement, the Term Sheet, or the
Definitive Documents; 
 (vi)    the issuance by any governmental authority, including any regulatory authority or
court of competent jurisdiction, of any ruling, judgment, or order enjoining the consummation of or rendering illegal the Plan or the Restructuring or any material portion thereof, and either (A) such ruling, judgment, or order has been issued
at the request of or with the acquiescence of the Company, or (B) in all other circumstances, such ruling, judgment, or order has not been reversed or vacated within thirty (30) calendar days after such issuance; 

(vii)    the Bankruptcy Court (or other court of competent jurisdiction) enters an order (A) directing the
appointment of an examiner with expanded powers or a trustee in any of the Chapter 11 Cases, (B) converting any of the Chapter 11 Cases to cases under chapter 7 of the Bankruptcy Code, (C) dismissing any of the Chapter 11 Cases, or
(D) the effect of which would render the Plan incapable of consummation on the terms set forth in this Agreement or the Term Sheet; 

(viii)    the Company’s consensual use of cash collateral has been terminated in accordance with the terms of the
DIP Orders; 
 (ix)    the occurrence of any Event of Default under (and as defined in) the DIP Documents; 

  
 11 

 (x)    the Company (A) files or supports another party in filing a
motion or pleading challenging the amount, validity, or priority of any Lender Claims or (B) files or supports (or fails to timely object to) another party in filing any plan of reorganization, liquidation, or sale of all or substantially all
of the Company’s assets, other than the Restructuring contemplated herein; 
 (xi)    the Company
(A) withdraws the Plan, (B) publicly announces or otherwise informs any of the Consenting Lenders of its intention not to support the Plan or the Restructuring, (C) files a motion with the Bankruptcy Court seeking the approval of an
Alternative Transaction, or (D) agrees to pursue (including, for the avoidance of doubt, as may be evidenced by entry into a term sheet, letter of intent, or similar document) or publicly announces its intent to pursue an Alternative
Transaction; 
 (xii)    if the Definitive Documents and any amendments, modifications, deletions, or supplements
thereto do not comply with Section 3 or Section 10 of this Agreement, as applicable; provided that such Definitive Documents or amendments, modifications, deletions, or supplements thereto
were not modified to be consistent with Section 3 or Section 10, as applicable, or withdrawn within five (5) business days following such breaching Party’s receipt of notice pursuant to
Section 19 hereof; 
 (xiii)    the Bankruptcy Court enters an order modifying or terminating
the Company’s exclusive right to file and/or solicit acceptances of a plan of reorganization (including the Plan); 

(xiv)    the Company has determined to exercise its rights under Section 6(c)(iii) of this
Agreement; or 
 (xv)    the Company files a motion seeking entry of an order approving any key employee incentive
plan, employee retention plan, or comparable plan, except as provided in the Plan, without the prior written consent of the Consenting Lenders. 

(c)    Company Termination Events. This Agreement may be terminated by the Company pursuant to this
Section 6(c) five (5) calendar days following the delivery to counsel to the Consenting Lenders of a written notice in accordance with Section 19 hereof, which notice may be delivered upon the
occurrence of any of the following events (each, a “Company Termination Event”): 
 (i)    the breach
by one or more of the Consenting Lenders representing in excess of 50.01% of the aggregate principal amount of the Lender Claims each with respect to any of the representations, warranties, or covenants of any such Consenting Lender, as set forth in
this Agreement, to the extent such breach would have a material adverse effect on the consummation of the Restructuring, and which breach remains uncured for a period of five (5) calendar days after the receipt by the applicable Consenting
Lenders from the Company of written notice of such breach; 
 (ii)    the issuance by any governmental authority,
including any regulatory authority or court of competent jurisdiction, of any ruling, judgment, or order enjoining the consummation of or rendering illegal the Plan or the Restructuring or any material

  
 12 

 
portion thereof, and either (A) such ruling, judgment, or order has been issued at the request of or with the acquiescence of the Company, or (B) in all other circumstances, such
ruling, judgment, or order has not been reversed or vacated within thirty (30) calendar days after such issuance; 

(iii)    the board of directors, managers, or similar governing body, as applicable, of any Company entity determines
that taking any action, refraining from taking any action, or continued performance under this Agreement would be inconsistent to any extent with its (or their respective officers or directors’) fiduciary obligations under applicable law (as
reasonably determined by the Company in good faith after consultation with legal counsel); or 
 (iv)    the
termination of the Equity Purchase Agreement by the Company in accordance with the terms thereof. 
 (d)    Mutual
Termination. This Agreement may be terminated by mutual agreement of the Company and the Consenting Lenders upon the receipt of written notice delivered in accordance with Section 19 hereof. 

(e)    Consenting Lender Individual Termination Right. Any individual Consenting Lender shall have the right to
terminate this Agreement, as to itself only, if (i) the Plan Effective Date shall not have occurred by 11:59 p.m. (New York time) on the date that is 120 calendar days after the Petition Date (the “Outside Date”) or
(ii) (x) the Company or any other Consenting Lender takes any action that is materially inconsistent with this Agreement or the Term Sheet or (y) this Agreement or the Term Sheet or any provision therein is waived, modified, amended or
changed without the consent of the affected Consenting Lender that, in either case, in the reasonable determination of the affected Consenting Lender, disproportionately and adversely affects the rights of such Consenting Lender and its affiliates
(taken as a whole) related to or under this Agreement, the Term Sheet or the Plan. In the event a Consenting Lender terminates pursuant to this Section 6(e), such termination shall be effective as to such Consenting Lender
only and shall not affect any of the rights or obligations of any other party to this Agreement. 
 (f)    Effect of
Termination. Upon the termination of this Agreement in accordance with this Section 6, and except as provided in Section 13 hereof, this Agreement shall forthwith become null and void and of no
further force or effect as to all Parties and each Party shall, except as provided otherwise in this Agreement, be immediately released from its liabilities, obligations, commitments, undertakings, and agreements under or related to this Agreement
and shall have all the rights and remedies that it would have had and shall be entitled to take all actions, whether with respect to the Restructuring or otherwise, that it would have been entitled to take had (notwithstanding the passage of any
applicable deadlines) it not entered into this Agreement; provided, however, that in no event shall any such termination relieve a Party from liability for its breach or non-performance of its
obligations hereunder prior to the date of such termination. Upon any such termination of this Agreement, any vote or consent given by the Consenting Lenders prior to termination shall automatically be deemed, for all purposes, to be null and void
ab initio and shall not be considered or otherwise used in any manner by the Parties in connection with the Restructuring and this Agreement and such consents or ballots may be changed or resubmitted regardless of whether the
applicable voting deadline has passed (without the need to seek a court order or consent from the Company allowing such change or resubmission). 

  
 13 

	 	7.	Definitive Documents; Good Faith Cooperation; Further Assurances. 

 Subject to the
terms and conditions described herein, during the Plan Support Period, each Party, severally and not jointly, hereby covenants and agrees to reasonably cooperate with each other in good faith in connection with the negotiation, drafting, execution,
and delivery of the Definitive Documents. Furthermore, subject to the terms and conditions hereof, each of the Parties shall take such action as may be reasonably necessary or reasonably requested by the other Parties to carry out the purposes and
intent of this Agreement, including making and filing any required regulatory filings (provided, however, that no Consenting Lender shall be required to incur any out of pocket cost or expense, or any liability in connection
therewith). 
  

	 	8.	Representations and Warranties. 

 (a)    Each Party, severally
and not jointly, represents and warrants to the other Parties that the following statements are true, correct, and complete as of the date hereof (or as of the date a Consenting Lender becomes a party hereto): 

(i)    such Party is validly existing and in good standing under the laws of its jurisdiction of incorporation or
organization, and has all requisite corporate, partnership, limited liability company, or similar authority to enter into this Agreement and carry out the transactions contemplated hereby and perform its obligations contemplated hereunder; and the
execution and delivery of this Agreement and the performance of such Party’s obligations hereunder have been duly authorized by all necessary corporate, limited liability company, partnership, or other similar action on its part; 

(ii)    the execution, delivery, and performance by such Party of this Agreement does not and will not (A) violate
any provision of law, rule, or regulation applicable to it, its charter, or its bylaws (or other similar governing documents), or (B) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under
any material contractual obligation to which it is a party (except to the extent such conduct is consented to by the counterparty thereto or the Consenting Lenders relevant thereto); 

(iii)    the execution, delivery, and performance by such Party of this Agreement does not and will not require any
registration or filing with, consent or approval of, or notice to, or other action, with or by, any federal, state, or governmental authority or regulatory body, except such filings as may be necessary and/or required by the SEC; and 

(iv)    this Agreement is the legally valid and binding obligation of such Party, enforceable against it in accordance
with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium, or other similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability or a
ruling of the Bankruptcy Court. 

  
 14 

 (b)    Each Consenting Lender severally (and not jointly) represents and
warrants to the Company that, as of the date hereof (or as of the date such Consenting Lender becomes a party hereto), such Consenting Lender (i) is the beneficial owner of the aggregate principal amount of Lender Claims set forth below its
name on the signature page hereof (or below its name on the signature page of a Transfer Agreement for any Consenting Lender that becomes a party hereto after the date hereof), and/or (ii) has, with respect to the beneficial owners of such
Lender Claims (A) sole investment or voting discretion with respect to such Lender Claims, (B) full power and authority to vote on and consent to matters concerning such Lender Claims or to exchange, assign, and transfer such Lender
Claims, and (C) full power and authority to bind or act on the behalf of, such beneficial owners. 
  

	 	9.	Disclosure; Publicity. 

 (a)    On or before the Petition
Date, the Company shall disseminate a press release, and make such filings as may be necessary and/or required by the SEC, disclosing the existence of this Agreement and the terms hereof and of the Plan (including any schedules and exhibits thereto
that are filed with the Bankruptcy Court on the Petition Date) with such redactions as may be reasonably requested by counsel to any Consenting Lender to maintain the confidentiality of the parties provided in Section 9(b),
except as otherwise required by law. 
 (b)    The Company shall submit drafts to counsel to the Consenting Lenders of
any press releases and public documents, that constitute disclosure of the existence or terms of this Agreement or any amendment to the terms of this Agreement at least three (3) calendar days prior to making any such disclosure, and shall
afford them a reasonable opportunity under the circumstances to comment on such documents and disclosures, final versions of which shall be reasonably satisfactory to the Consenting Lenders. Except as required by law or otherwise permitted under the
terms of any other agreement between the Company on the one hand, and any Consenting Lender, on the other hand, no Party or its advisors (including counsel to any Party) shall disclose to any person or entity (including, for the avoidance of doubt,
any other Consenting Lender), other than advisors to the Company, the principal amount or percentage of any Lender Claims or any other securities of the Company held by any Party, in each case, without such Party’s prior written consent;
provided, however, that (i) if such disclosure is required by law, subpoena, or other legal process or regulation, the disclosing Party shall afford the relevant Party a reasonable opportunity to review and comment in advance of
such disclosure and shall take all reasonable measures to limit such disclosure (the expense of which, if any, shall be borne by the relevant disclosing Party) and (ii) the foregoing shall not prohibit the disclosure of the aggregate percentage
or aggregate principal amount of Lender Claims held by all Consenting Lenders. Notwithstanding the provisions in this Section 9, any Party may disclose, to the extent consented to in writing by a duly authorized officer or
representative of the affected Consenting Lender, such Consenting Lender’s individual holdings. 
  

	 	10.	Amendments, Waivers and Consents. 

 During the Plan Support Period, this
Agreement, including any exhibits or schedules hereto, may not be waived, modified, amended, or supplemented except in a writing signed by the Company and the Consenting Lenders. For purposes of this Agreement, the effectiveness of any consent to
any amendment, modification or waiver of this Agreement by the Consenting Lenders shall be determined in accordance with the terms of the Financing Agreement. 

  
 15 

	 	11.	Governing Law; Jurisdiction; Waiver of Jury Trial. 

(a)    This Agreement shall be construed and enforced in accordance with, and the rights of the Parties shall be governed
by, the law of the State of New York, without giving effect to the conflicts of law principles thereof. 
 (b)    Each
of the Parties irrevocably agrees that any legal action, suit, or proceeding arising out of or relating to this Agreement brought by any party or its successors or assigns shall be brought and determined in any federal or state court in the Borough
of Manhattan, the City of New York, and each of the Parties hereby irrevocably submits to the exclusive jurisdiction of the aforesaid courts for itself and with respect to its property, generally and unconditionally, with regard to any such
proceeding arising out of or relating to this Agreement or the Restructuring Transactions. Each of the Parties agrees not to commence any proceeding relating hereto or thereto except in the courts described above in New York or in the Bankruptcy
Court, other than proceedings in any court of competent jurisdiction to enforce any judgment, decree, or award rendered by any such court in New York as described herein. Each of the Parties further agrees that notice as provided herein shall
constitute sufficient service of process and the Parties further waive any argument that such service is insufficient. Subject to the foregoing, each of the Parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of
motion or as a defense, counterclaim, or otherwise, in any proceeding arising out of or relating to this Agreement or the Restructuring Transactions, (i) any claim that it is not personally subject to the jurisdiction of the courts in New York
as described herein for any reason, (ii) that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment,
attachment in aid of execution of judgment, execution of judgment, or otherwise) and (iii) that (A) the proceeding in any such court is brought in an inconvenient forum, (B) the venue of such proceeding is improper, or (C) this
Agreement, or the subject matter hereof, may not be enforced in or by such courts. Notwithstanding the foregoing, during the pendency of the Chapter 11 Cases, all proceedings contemplated by this Section 11(b) shall be
brought in the Bankruptcy Court. 
 (c)    EACH PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT, OR ANY OTHER THEORY). EACH PARTY
(I) CERTIFIES THAT NO REPRESENTATIVE, AGENT, OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

  
 16 

	 	12.	Specific Performance/Remedies. 

 It is understood and agreed by the Parties that
money damages would not be a sufficient remedy for any breach of this Agreement by any Party and each non-breaching Party shall be entitled to specific performance and injunctive or other equitable relief
(including attorneys’ fees and costs) as a remedy of any such breach, without the necessity of proving the inadequacy of money damages as a remedy, including an order of the Bankruptcy Court requiring any Party to comply promptly with any of
its obligations hereunder. 
  

	 	13.	Survival. 

 Notwithstanding the termination of this Agreement pursuant to
Section 6 hereof, the agreements and obligations of the Parties set forth in this Section 13 and the following Sections: 1, 6(f), 9, 11, 12, 14,
15, 16, 17, 18, 20 and 21 hereof (and any defined terms used in any such Sections) shall survive such termination and shall continue in full force and effect for the benefit of the
Consenting     Lenders in accordance with the terms hereof; provided, however, that any liability of a Party for failure to comply with the terms of this Agreement shall survive such termination. 

 

	 	14.	Headings. 

 The headings of the sections, paragraphs, and subsections of this
Agreement are inserted for convenience only and shall not affect the interpretation hereof or, for any purpose, be deemed a part of this Agreement. 
  

	 	15.	Successors and Assigns; Severability; Several Obligations. 

 This Agreement is
intended to bind and inure to the benefit of the Parties and their respective successors, permitted assigns, heirs, executors, administrators, and representatives; provided, however, that nothing contained in this
Section 15 shall be deemed to permit Transfers of interests in the Lender Claims other than in accordance with the express terms of this Agreement. If any provision of this Agreement, or the application of any such
provision to any person or entity or circumstance, shall be held invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and the remaining part of such provision hereof
and this Agreement shall continue 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 any such determination of invalidity,
the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a reasonably acceptable manner in order that the transactions contemplated hereby are consummated as
originally contemplated to the greatest extent possible. The agreements, representations, and obligations of the Parties are, in all respects, several and neither joint nor joint and several. 

 

	 	16.	No Third-Party Beneficiaries. 

 Unless expressly stated otherwise herein, this
Agreement shall be solely for the benefit of the Parties and no other person or entity shall be a third-party beneficiary hereof. 

  
 17 

	 	17.	Prior Negotiations; Entire Agreement. 

 This Agreement, including the exhibits and
schedules hereto, constitutes the entire agreement of the Parties, and supersedes all other prior negotiations (whether written, verbal or otherwise), with respect to the subject matter hereof and thereof, except that the Parties acknowledge that
any confidentiality agreement and/or non-disclosure agreement (if any) heretofore executed between the Company and any Consenting Lender shall continue in full force and effect in accordance with its terms.

  

	 	18.	Counterparts. 

 This Agreement may be executed in several counterparts, each of
which shall be deemed to be an original, and all of which together shall be deemed to be one and the same agreement. Execution copies of this Agreement may be delivered by facsimile, electronic mail, or otherwise, which shall be deemed to be an
original for the purposes of this paragraph. 
  

	 	19.	Notices. 

 All notices hereunder shall be deemed given if in writing and
delivered, if contemporaneously sent by electronic mail, facsimile, courier, or by registered or certified mail (return receipt requested) to the following addresses and facsimile numbers: 

(1) If to the Company, to: 

Patriot National, Inc. 
 401 E.
Las Olas Blvd, Suites 1650 
 Fort Lauderdale, FL 33301 

Attention: Gex ‘Jay’ Richardson 

With a copy to: 
 Greenberg
Traurig LLP 
 333 SE 2nd Avenue 

Suite 4400 
 Miami, Florida 33131

 Attention: Mark Bloom, Esq. (bloomm@gtlaw.com) 

(2) If to counsel to the Consenting Lenders initially party hereto, to: 

Schulte Roth & Zabel LLP 

919 Third Avenue 
 New York, New
York 10022 
 Attention: Adam C. Harris, Esq. (adam.harris@srz.com) 

(3) If to the Board of Directors, to: 

Hughes Hubbard & Reed LLP 

One Battery Park Plaza 
 New York,
New York 10004 
 Attention: Katie Coleman (Katie.coleman@hugheshubbard.com) 

                 Terence Healy
(Terence.healy@hugheshubbard.com) 

  
 18 

 Any notice given by electronic mail, facsimile, delivery, mail, or courier shall be effective
when received. 
  

	 	20.	Reservation of Rights; No Admission. 

 (a)    Nothing
contained herein shall (i) limit (A) the ability of any Party to consult with other parties or entities, or (B) the rights of any Party under any applicable bankruptcy, insolvency, foreclosure, or similar proceeding, including, without
limitation, the right to appear as a party in interest in any matter to be adjudicated in order to be heard concerning any matter arising in the Chapter 11 Cases, in each case, so long as such consultation or appearance is consistent with such
Party’s obligations hereunder, or under the terms of the Plan; (ii) limit the ability of any Consenting Lender to sell or enter into any transactions in connection with the Lender Claims or any other interests in the Company, subject to
the terms of Section 4(b) hereof; (iii) limit the rights of any Consenting Lender under the Financing Agreement or any agreements executed in connection with the foregoing; or (iv) constitute a waiver or amendment
of any provision of the Financing Agreement or any agreements executed in connection with the foregoing. 

(b)    Except as expressly provided in this Agreement, nothing herein is intended to, or does, in any manner waive, limit,
impair, or restrict the ability of each of the Parties to protect and preserve its rights, remedies, and interests, including, without limitation, its claims against any of the other Parties (or their respective affiliates or subsidiaries) or its
full participation in the Chapter 11 Cases. This Agreement and the Plan are part of a proposed settlement of matters that could otherwise be the subject of litigation among the Parties. Pursuant to Rule 408 of the Federal Rule of Evidence, any
applicable state rules of evidence and any other applicable law, foreign or domestic, this Agreement and all negotiations relating thereto shall not be admissible into evidence in any proceeding other than a proceeding to enforce its terms. This
Agreement shall in no event be construed as or be deemed to be evidence of an admission or concession on the part of any Party of any claim or fault or liability or damages whatsoever. Each of the Parties denies any and all wrongdoing or liability
of any kind and does not concede any infirmity in the claims or defenses which it has asserted or could assert. 

(c)    Notwithstanding anything herein to the contrary, nothing in this Agreement and neither a vote to accept the Plan by
any Consenting Lender nor the acceptance of the Plan by any Consenting Lender shall (a) be construed to prohibit any Consenting Lender from contesting whether any matter, fact, or thing is a breach of, or is inconsistent with, this Agreement or
the Definitive Documents, or exercising rights or remedies specifically reserved herein, or (b) impair or waive the rights of any Consenting Lender to assert or raise any objection permitted under this Agreement in connection with any hearing
on confirmation of the Plan or in the Bankruptcy Court. 

  
 19 

	 	21.	Relationship Among Consenting Lenders. 

 (a)    It is
understood and agreed that no Consenting Lender has any duty of trust or confidence in any kind or form with any other Consenting Lender, and, except as expressly provided in this Agreement, there are no commitments among or between them. In this
regard, it is understood and agreed that any Consenting Lender may trade in the Lender Claims or other equity securities of the Company without the consent of the Company or any other Consenting Lender, subject to applicable securities laws, the
terms of this Agreement, the Financing Agreement and any confidentiality agreement and/or non-disclosure agreement entered into with the Company; provided, however, that no Consenting Lender
shall have any responsibility for any such trading to any other person or entity by virtue of this Agreement. No prior history, pattern, or practice of sharing confidences among or between the Consenting Lenders shall in any way affect or negate
this understanding and agreement. 
  

	 	22.	No Solicitation; Representation by Counsel; Adequate Information. 

(a)    This Agreement is not and shall not be deemed to be a solicitation for votes in favor of the Plan in the Chapter 11
Cases. The acceptances of the Consenting Lenders with respect to the Plan will not be solicited until such Consenting Lender has received the Disclosure Statement and related ballots and solicitation materials, each as approved by the Bankruptcy
Court. 
 (b)    Each Party acknowledges that it has had an opportunity to receive information from the Company and that
it has been represented by counsel in connection with this Agreement and the transactions contemplated hereby. Accordingly, any rule of law or any legal decision that would provide any Party with a defense to the enforcement of the terms of this
Agreement against such Party based upon lack of legal counsel shall have no application and is expressly waived. 

(c)    Although none of the Parties intends that this Agreement should constitute, and they each believe it does not
constitute, a solicitation or acceptance of a chapter 11 plan of reorganization or an offering of securities, each Consenting Lender acknowledges, agrees, and represents to the other Parties that it (i) is an “accredited investor” as
such term is defined in Rule 501(a) of the Securities Act of 1933 (the “Securities Act”), (ii) understands that any securities to be acquired by it pursuant to the Restructuring Transactions have not been registered under the
Securities Act and that such securities are, to the extent not acquired pursuant to section 1145 of the Bankruptcy Code, being offered and sold pursuant to an exemption from registration contained in the Securities Act, based in part upon such
Consenting Lender’s representations contained in this Agreement, and cannot be sold unless subsequently registered under the Securities Act or an exemption from registration is available, and (iii) has such knowledge and experience in
financial and business matters that such Consenting Lender is capable of evaluating the merits and risks of the securities to be acquired by it pursuant to the Restructuring Transactions and understands and is able to bear any economic risks with
such investment. 
 [remainder of page intentionally left blank] 

  
 20 

 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed and delivered by
their respective duly authorized officers, solely in their respective capacity as officers of the undersigned and not in any other capacity, as of the date first set forth above. 

 

					
	COMPANY:
	
	PATRIOT NATIONAL, INC.
		
	By:	 	 /s/ Gex Richardson

	Name:	 	Gex Richardson
	Title:	 	Secretary
	
	PATRIOT SERVICES, LLC
	
	By: Patriot National, Inc., its Manager
			
		 	By:	 	 /s/ Gex Richardson

		 	Name:	 	Gex Richarson
		 	Title:	 	Secretary
	
	CONTEGO INVESTIGATIVE SERVICES, INC.
		
	By:	 	 /s/ Beth Crews

	Name:	 	Beth Crews
	Title:	 	Secretary
	
	CORPORATE CLAIMS MANAGEMENT, INC.
		
	By:	 	 /s/ Beth Crews

	Name:	 	Beth Crews
	Title:	 	Secretary
	
	CWI BENEFITS, INC.
		
	By:	 	 /s/ Beth Crews

	Name:	 	Beth Crews
	Title:	 	Secretary

  
 [Signature Pages to
Restructuring 
 Support Agreement] 

 
					
	FORZA LIEN, LLC
		
	By:	 	Patriot Risk Services, Inc., its Manager
			
		 	By:	 	 /s/ Beth Crews

		 	Name:	 	Beth Crews
		 	Title:	 	Secretary
	
	RADAR POST-CLOSING HOLDING COMPANY, INC. (f/k/a GLOBAL HR RESEARCH, INC.)
		
	By:	 	 /s/ Gex Richardson

	Name:	 	Gex Richardson
	Title:	 	Secretary
	
	PATRIOT AUDIT SERVICES, LLC
		
	By:	 	Patriot Underwriters, Inc., its Manager
			
		 	By:	 	 /s/ Gex Richardson

		 	Name:	 	Gex Richardson
		 	Title:	 	Secretary
	
	PATRIOT CAPTIVE MANAGEMENT, LLC
		
	By:	 	Patriot Services, LLC, its Manager
			
		 	 By:
	 	Patriot National, Inc., its Manager
			
		 	By:	 	 /s/ Gex Richardson

		 	Name:	 	Gex Richardson
		 	Title:	 	Secretary
	
	PATRIOT CARE MANAGEMENT, LLC
		
	By:	 	Patriot Services, LLC, its Manager
			
		 	 By:
	 	Patriot National, Inc., its Manager
			
		 	By:	 	 /s/ Gex Richardson

		 	Name:	 	Gex Richardson
		 	Title:	 	Secretary

  
 [Signature Pages to
Restructuring 
 Support Agreement] 

 
							
	PATRIOT CLAIM SERVICES, INC.
		
	By:	 	 /s/ Beth Crews

	Name:	 	Beth Crews
	Title:	 	Secretary
	
	PATRIOT RISK CONSULTANTS, LLC
		
	By:	 	Patriot Underwriters, Inc., its Manager
			
		 	By:	 	 /s/ Gex Richardson

		 	Name:	 	Gex Richardson
		 	Title:	 	Secretary
	
	PATRIOT RISK SERVICES, INC.
		
	By:	 	 /s/ Beth Crews

	Name:	 	Beth Crews
	Title:	 	Secretary
	
	PATRIOT TECHNOLOGY SOLUTIONS, LLC
		
	By:	 	Patriot Services, LLC, its Manager
			
		 	 By:
	 	Patriot National, Inc., its Manager
				
		 		 	By:	 	 /s/ Gex Richardson

		 		 	 Name:
	 	Gex Richardson
		 		 	 Title:
	 	Secretary
	
	PATRIOT UNDERWRITERS, INC.
		
	By:	 	 /s/ Gex Richardson

	Name:	 	Gex Richardson
	Title:	 	Secretary

  
 [Signature Pages to
Restructuring 
 Support Agreement] 

 
							
	TRIGEN INSURANCE SOLUTIONS, INC.
		
	By:	 	 /s/ Gex Richardson

	Name:	 	Gex Richardson
	Title:	 	Secretary
	
	TRIGEN HOSPITALITY GROUP, INC.
		
	By:	 	 /s/ Gex Richardson

	Name:	 	Gex Richardson
	Title:	 	Secretary
	
	CONTEGO SERVICES GROUP, LLC
		
	By:	 	Patriot Services, LLC, its Manager
		 	 By:
	 	Patriot National, Inc., its Manager
				
		 		 	 By:
	 	 /s/ Gex Richardson

		 		 	 Name:
	 	Gex Richardson
		 		 	 Title:
	 	Secretary
	
	DECISION UR, LLC
		
	By:	 	Patriot Technology Solutions, LLC, its Manager
		 	By:	 	Patriot Services, LLC, its Manager
		 	By:	 	Patriot National, Inc., its Manager
				
		 		 	By:	 	 /s/ Gex Richardson

		 		 	Name:	 	Gex Richardson
		 		 	Title:	 	Secretary

  
 [Signature Pages to
Restructuring 
 Support Agreement] 

 
			
	CONSENTING LENDERS:
	
	CERBERUS ASRS FUNDING LLC
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

	
	CERBERUS AUS LEVERED II LP
	By:	 	CAL II GP, LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

	
	CERBERUS FSBA HOLDINGS LLC
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

	
	CERBERUS FSBA LEVERED LLC
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

	
	CERBERUS ICQ LEVERED LOAN OPPORTUNITIES FUND, L.P.
	By: Cerberus ICQ Levered Opportunities GP, LLC
	Its: General Partner
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Senior Managing Director

	
	CERBERUS ICQ LEVERED LLC
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

  
 [Signature Pages to
Restructuring 
 Support Agreement] 

 
			
	CERBERUS ICQ OFFSHORE LEVERED LP
	By:	 	Cerberus ICQ Offshore GP LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Senior Managing Director

	
	CERBERUS KRS LEVERED LOAN OPPORTUNITIES FUND, L.P.
	By: Cerberus KRS Levered Opportunities GP, LLC
	Its: General Partner
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Senior Managing Director

	
	CERBERUS LOAN FUNDING XV L.P.
	By:	 	Cerberus ICQ GP, LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Senior Managing Director

	
	CERBERUS LOAN FUNDING XVI LP
	By:	 	Cerberus PSERS GP, LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Senior Managing Director

	
	CERBERUS LOAN FUNDING XVII LTD.
	By: Cerberus ASRS Holdings LLC, its attorney-in-fact
	
	 /s/ Daniel Wolf

	Duly Authorized Signatory
	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

  
 [Signature Pages to
Restructuring 
 Support Agreement] 

 
			
	CERBERUS LOAN FUNDING XVIII L.P.
	By:	 	Cerberus LFGP XVIII, LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Senior Managing Director

	
	CERBERUS LOAN FUNDING XIX L.P.
	By:	 	Cerberus LFGP XIX, LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Senior Managing Director

	
	CERBERUS N-1 FUNDING LLC
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

	
	CERBERUS OFFSHORE LEVERED III LP
	By:	 	COL III GP Inc.
	Its:	 	General Partner
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

	
	CERBERUS ONSHORE LEVERED III LLC
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

	
	CERBERUS PSERS LEVERED LLC
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

  
 [Signature Pages to
Restructuring 
 Support Agreement] 

 
			
	CERBERUS REDWOOD LEVERED A LLC

 
			
		
	By:	 	 /s/ Daniel Wolf

			
	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

 

			
	
	CERBERUS REDWOOD LEVERED B LLC

 
			
		
	By:	 	 /s/ Daniel Wolf

			
	Name:	 	 Daniel Wolf

	Title:	 	 Vice President

 

			
	
	CERBERUS SWC LEVERED LOAN OPPORTUNITIES MASTER FUND, L.P.
	By: Cerberus SWC Levered Opportunities GP, LLC

 
			
	Its: General Partner

 
			
		
	By:	 	 /s/ Daniel Wolf

	Name:	 	 Daniel Wolf

	Title:	 	 Senior Managing Director

  
 [Signature Pages to
Restructuring 
 Support Agreement] 

 
			
	TCW Direct Lending, LLC

 
			
	
	By: TCW Asset Management Company, its Investment Advisor

 
			
		
	By:	 	 /s/ Suzanne Grosso

	Name:	 	 Suzanne Grosso

	Title:	 	 Authorized Signatory

	
	West Virginia Direct Lending LLC

 
			
	
	By: TCW Asset Management Company, its Advisor

 
			
		
	By:	 	 /s/ Suzanne Grosso

	Name:	 	 Suzanne Grosso

	Title:	 	 Authorized Signatory

	
	TCW Skyline Lending, L.P.

 
			
	
	By: TCW Asset Management Company LLC, its Investment Advisor

 
			
		
	By:	 	 /s/ Suzanne Grosso

	Name:	 	 Suzanne Grosso

	Title:	 	 Authorized Signatory

  
 [Signature Pages to
Restructuring 
 Support Agreement] 

 EXHIBIT A 

Plan Term Sheet 
 In re PATRIOT
NATIONAL, INC. et al. 
 PRINCIPAL TERMS OF A JOINT CHAPTER 11 PLAN OF REORGANIZATION 

For Discussion Purposes Only 

This document (the “Plan Term Sheet”) is a summary of certain material terms of a proposed joint Chapter 11 plan of
reorganization (the “Plan”) for the Debtors1 in cases to be commenced and jointly administered in the United States Bankruptcy Court for the District of Delaware (the
“Chapter 11 Cases”), and is Exhibit A to that certain Restructuring Support Agreement, dated as of November 28, 2017 (the “RSA”), between and among the Debtors, the Agents, and the Consenting Lenders (each as
defined below). This Plan Term Sheet does not contain all the terms, conditions, and other provisions of the Plan, and the transactions contemplated by this Plan Term Sheet are subject to conditions to be set forth in definitive documents. This Plan
Term Sheet does not constitute (nor shall it be construed as) an offer with respect to the issuance of any securities, nor is it an offer or solicitation of votes for or against any chapter 11 plan. It is understood that a solicitation of votes in
respect of the Plan, if any, will be made only in compliance with the applicable provisions of the securities, bankruptcy, and other applicable laws. 

This Plan Term Sheet is provided in confidence and may not be distributed without the express written consent of the Debtors and the
Consenting Lenders. This Plan Term Sheet is a settlement proposal in furtherance of settlement discussions. Accordingly, this Plan Term Sheet is protected by Rule 408 of the Federal Rules of Evidence and any other applicable statutes or doctrines
protecting the use or disclosure of confidential settlement discussions. 
 This Plan Term Sheet is subject to ongoing review and approval
by, and is not binding upon the Debtors, the Agents and the Consenting Lenders, is subject to material change, and is being distributed for discussion purposes only. 

 

	1 	The “Debtors” shall mean, collectively, (i) Patriot National, Inc., a Delaware corporation, (ii) Patriot Services, LLC, a Delaware limited liability company, (iii) Contego Investigative
Services, Inc., a Delaware corporation, (iv) Corporate Claims Management, Inc., a Delaware corporation, (v) CWI Benefits, Inc., a Delaware corporation, (vi) Forza Lien, LLC, a Delaware limited liability company, (vii) Radar
Post-Closing Holding Company, Inc. (f/k/a Global HR Research, Inc.), a Delaware corporation, (viii) Patriot Audit Services, LLC, a Delaware limited liability company, (ix) Patriot Captive Management, LLC, a Delaware limited liability
company, (x) Patriot Care Management, LLC, a Delaware limited liability company, (xi) Patriot Claim Services, Inc., a Delaware corporation, (xii) Patriot Risk Consultants, LLC, a Delaware limited liability company, (xiii) Patriot
Risk Services, Inc., a Delaware corporation, (xiv) Patriot Technology Solutions, LLC, a Delaware limited liability company, (xv) Patriot Underwriters, Inc., a Delaware corporation, (xvi) TriGen Insurance Solutions, Inc., a Delaware
corporation, (xvii) TriGen Hospitality Group, Inc., a Delaware corporation, (xviii) Contego Services Group, LLC, a Delaware limited liability company, and (xix) Decision UR, LLC, a California limited liability company.

  
 A-1 

			
	Plan Proponents	  	The Debtors.
		
	Restructuring Support Parties	  	The Administrative Agent and the Collateral Agent party to the Financing Agreement2 (in such capacities, the “Agents”) and the lenders thereunder who are party to
the RSA (the “Consenting Lenders”).
	
	DIP FACILITY
		
	DIP Facility	  	On the Petition Date, the Debtors shall file a motion seeking approval of a superpriority senior-secured debtor-in-possession credit facility (the
“DIP Facility”) comprised of a multi-draw term loan facility in an aggregate amount to be determined based upon cash flow projections to be provided by the Company to, and in form and substance acceptable to, the Consenting Lenders.
The DIP Facility shall be secured by first priority liens upon and security interests in substantially all of the Debtors’ assets, subject only to certain permitted liens and reasonable carve-outs for the payment of reasonable fees and expenses
of professionals retained by the estates of the Debtors and official committee of creditors, as such fees and expenses may be awarded by the Bankruptcy Court. In addition, the Agents and the Consenting Lenders shall consent to the Debtors use of
cash collateral.
	
	PLAN STRUCTURE
		
	Plan Overview	  	 The Plan will be a joint plan for the reorganization of Patriot National, Inc. and each of its direct and indirect subsidiaries that are
Debtors. The Debtors will be consolidated for voting purposes only.
  
 Pursuant to the
Plan, all of the issued and outstanding equity interests in Patriot National, Inc. and each of its direct and indirect subsidiaries (the “Subsidiary Debtors”) will be extinguished, and the Lenders (or their designees) will receive
100% of newly issued equity in interests in Reorganized Patriot National, Inc. and each of the Reorganized Subsidiary Debtors on account of a portion of their claims arising under the Financing Agreement (“Lender
Claims”).

  

	2 	“Financing Agreement” means that certain Financing Agreement, dated as of November 9, 2016, by and among (i) Patriot National, Inc., as Borrower, and each of its subsidiaries party thereto, as
guarantors, (ii) the lenders from time to time party thereto (the “Lenders”), and (iii) Cerberus Business Finance, LLC , as Collateral Agent and Administrative Agent (as amended, modified, or otherwise supplemented from
time to time prior to the date hereof). 

  
 A-2 

			
		  	Holders of DIP Claims, Administrative Expense Claims and Priority Tax Claims will not be classified, and will be paid in full in cash on the Effective Date of the Plan.
		
		  	Holders of Priority Claims will be paid in full in cash on the Effective Date of the Plan, will be unimpaired, and thus will be conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code.
Holders of Priority Claims will not be entitled to vote on the Plan.
		
		  	Holders of Lender Claims will receive their pro rata share of each of (a) the newly issued equity interests in Reorganized Patriot National, Inc. and each of the Reorganized Subsidiary Debtors, (b) a new term loan facility
(the “New Term Loan Facility”),3 and (c) cash distributions from the Liquidating Trustee (as defined below) in accordance with the Liquidating Trust Proceeds Waterfall (as defined
below). Holders of Claims under the Financing Agreement are impaired under the Plan, are entitled to vote to accept or reject the Plan, and have committed to vote to accept the Plan upon the terms and conditions set forth in the RSA.
		
		  	Holders of Continuing Vendor Claims and Continuing Retail Agent Claims (each as defined below) will be paid (a) in the ordinary course of business in accordance with any invoice, contract or other agreement governing the terms
of such payment or, (b) if such amounts are overdue as of the Effective Date, in full in cash on the Effective Date of the Plan. Holders of Continuing Vendor Claims and Continuing Retail Agent Claims will be unimpaired, and thus will be
conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Holders of Continuing Vendor Claims and Continuing Retail Agent Claims will not be entitled to vote on the Plan.

  

	3 	The amount of the Lender Claims to be converted into equity and the amount of the New Term Loan Facility will be based upon, among other things, the debt capacity and enterprise value of the reorganized Debtors, as
determined by agreement of the Debtors and the Lenders. 

  
 A-3 

			
		  	Holders of General Unsecured Claims (other than Continuing Vendor Claims and Continuing Retail Agent Claims)4 will receive their pro rata share of the GUC Cash Pool in accordance
with the Liquidating Trust Proceeds Waterfall.5 Holders of General Unsecured Claims will be entitled to vote to accept or reject the Plan.
		
		  	Holders of Equity Interests in Patriot National, Inc. will not receive or retain any property on account of such Equity Interests, and thus will be conclusively presumed to have rejected the Plan pursuant to section 1126(g) of the
Bankruptcy Code. Holders of Equity Interests in Patriot National, Inc. will not be entitled to vote on the Plan.
		
		  	Holders of Equity Interests in each of the Subsidiary Debtors will not receive or retain any property on account of such Equity Interests, and thus will be conclusively presumed to have rejected the Plan pursuant to section 1126(g)
of the Bankruptcy Code. Holders of Equity Interests in the Subsidiary Debtors will not be entitled to vote on the Plan.
	
	CLASSIFICATION AND TREATMENT
		
	DIP Claims	  	The DIP Facility will be paid in full in cash (including all accrued and unpaid interest, fees and expenses) on the Effective Date of the Plan from the cash proceeds of the Exit Facility (as defined below).
		
	Administrative Claims (other than the DIP Claims)	  	Payment in full in cash of the Allowed amount of such claim, or such other treatment as may be agreed upon by the Debtors, the Administrative Agent and the Holder of such administrative expense claim, on the Effective Date;
provided, however, that fees and expenses of estate professionals shall only be paid after Bankruptcy Court authorization.
		
		  	Unimpaired and not entitled to vote.
		
	Priority Tax Claims	  	Payment in full in cash of the Allowed amount of such claim, or such other treatment as may be agreed upon by the Debtors, the Administrative Agent and the Holder of such priority tax claim, on the Effective Date.
		
		  	Unimpaired and not entitled to vote.

  

	4 	General Unsecured Claims to include all earn-out obligations, severance obligations in excess of the statutory priority amount, accounts payable to vendors not included as
Continuing Vendors, commissions payable to retail agents who are not Continuing Retail Agents, and lease and contract rejection claims. 

	5 	For purposes of the Plan, the term “GUC Cash Pool” shall mean the cash to be distributed by the Liquidating Trustee to the Holders of Allowed Claims in Classes 5 and 6 in accordance with the Liquidating
Trust Proceeds Waterfall. 

  
 A-4 

			
	Class 1: Lender Claims	  	Holders of Lender Claims will receive their pro rata share of each of (a) the newly issued equity interests in Reorganized Patriot National, Inc. (“New PNI Equity”) and each of the Reorganized Subsidiary
Debtors in accordance with an Equity Purchase Agreement,6 (b) the New Term Loan Facility, and (c) distributions made by the Liquidating Trustee in accordance with the Liquidating Trust
Proceeds Waterfall.
		
		  	Impaired and entitled to vote.
		
	Class 2: Other Secured Claims	  	On the Effective Date, except to the extent that a holder of an Allowed Secured Claim agrees to a less favorable treatment, in full and complete satisfaction of such claim, each holder of an Allowed Other Secured Claim shall receive
either (i) payment in full in cash of the unpaid portion of its Allowed Other Secured Claim (as determined by settlement or order of the Bankruptcy Court), or (ii) such other recovery that results in the unimpairment of the Allowed Other
Secured Claim in accordance with section 1124 of the Bankruptcy Code.
		
		  	Unimpaired and not entitled to vote.
		
	Class 3: Priority Claims	  	Payment in full in cash of the Allowed amount of such claim (as determined by settlement or order of the Bankruptcy Court), or such other treatment as may be agreed upon by the Debtors, the Administrative Agent and the Holder of
such priority claim, on the later of the Effective Date or the date on which such claim is Allowed.
		
		  	Unimpaired and not entitled to vote.

  

	6 	Equity Purchase Agreement to contain terms and provisions customary for transactions of this type, including completion of business and legal diligence to the satisfaction of the Administrative Agent and Lenders.
Notwithstanding the foregoing, the Plan will further provide that in the event a third party offers to acquire the interests of Reorganized Patriot National, Inc. and each of the Reorganized Subsidiary Debtors on terms more favorable than those set
forth in the Equity Purchase Agreement and acceptable to the Administrative Agent and Lenders, such third party may be substituted for the Administrative Agent and Lenders as the acquirer of such interests with the balance of the distributions to be
made to the Administrative Agent and Lenders under the Plan adjusted accordingly. 

  
 A-5 

			
	Class 4: Continuing Vendor Claims and Continuing Retail Agent Claims7	  	Holders of Continuing Vendor Claims8 and Continuing Retail Agent Claims will be paid in full in cash in two equal installments with the first such installment being made on the
Effective Date and the second being made on the date which is the six month anniversary of the Effective Date (assuming compliance by the applicable Holder with the Continuing Vendor Agreement or Continuing Retail Agent Agreement, as
applicable.)
		
		  	Impaired and entitled to vote.
		
	Class 5: General Unsecured Claims	  	Holders of Allowed General Unsecured Claims shall be entitled to receive their pro rata share of the GUC Cash Pool, which will be distributed by the Liquidating Trustee in accordance with the Liquidating Trust Proceeds
Waterfall.
		
		  	Impaired and entitled to vote.
		
	Class 6: Section 510(b) Claims	  	Holders of Claims that are subject to subordination under Section 510(b) of the Bankruptcy Code shall be entitled to receive their pro rata share of the GUC Cash Pool, which will be distributed by the Liquidating Trustee in
accordance with the Liquidating Trust Proceeds Waterfall.
		
		  	Impaired and entitled to vote.

  

	7 	Continuing Retail Agent Claims to include the claims of those retail agents deemed critical by the Administrative Agent and Lenders to the continuing business and operations of the Reorganized Debtors and whose claims
are not paid in full either through a critical vendor motion or by assumption of an executory contract between a Debtor and such retail agent. In order to qualify a Retail Agent will be required to execute and deliver an agreement, in form and
substance acceptable to the Administrative Agent and Lenders, pursuant to which such Retail Agent shall agree and commit to continue its business relationship with the Reorganized Debtors (including certain minimum requirements for the placement of
policies). 

	8 	Continuing Vendor Claims to include the claims of those vendors deemed critical by the Administrative Agent and Lenders to the continuing business and operations of the Reorganized Debtors and whose claims are not paid
in full either through a critical vendor motion or by assumption of an executory contract between a Debtor and such vendor. In order to qualify a Vendor will be required to execute and deliver an agreement, in form and substance acceptable to the
Administrative Agent and Lenders, pursuant to which such Vendor shall agree and commit to continue its business relationship with the Reorganized Debtors (including providing terms of payments for goods and services). 

  
 A-6 

			
	Class 7: Intercompany Claims	  	Holders of existing Intercompany Claims between and among the Debtors shall not receive any distribution or retain any property under the Plan, and all such Intercompany Claims shall be cancelled.
		
		  	Impaired and deemed to reject.
		
	Class 8: Equity Interests	  	Holders of Equity Interests in Patriot National, Inc. and each of the Subsidiary Debtors will not receive or retain any property on account of such Equity Interests.
		
		  	Impaired and deemed to reject.
	
	MEANS FOR IMPLEMENTATION
		
	Exit Facility	  	On the Effective Date, Reorganized Patriot Services, LLC and the Reorganized Subsidiary Debtors shall enter into a new credit facility with commitments sufficient to (a) repay in full all amounts outstanding under the DIP
Facility, (b) make the cash distributions contemplated by the Plan, (c) provide working capital for the ongoing business operations of the Reorganized Debtors, and (d) pay all related transaction costs and expenses. The Exit Facility
shall have a first priority lien upon and security interest in substantially all of the assets of the Reorganized Debtors.
		
	New Term Loan Facility	  	On the Effective Date, the Reorganized Debtors shall enter into the New Term Loan. The New Term Loan Facility shall have a second priority lien upon and security interest in substantially all of the assets of the Reorganized
Debtors.
	
	LIQUIDATING TRUST
		
	Liquidating Trust and Liquidating Trust Oversight Committee	  	The Plan shall provide for the creation of a liquidating trust (the “Liquidating Trust”) and for the free and clear transfer of all of the Debtors’ Causes of Action9 into the Liquidating Trust.

  
  

	9 	“Causes of Action” shall mean all (a) Avoidance Actions, (b) commercial tort claims (including claims against officers and directors), (c) claims against professionals (including counsel and
accountants), and (d) other claims against third parties held by the Debtors (other than claims against GIC or otherwise arising in the ordinary course of business, such as for the collection of accounts receivable or the enforcement of any
contract). 

  
 A-7 

			
		 	The trustee of the Liquidating Trust (the “Liquidating Trustee”) shall be selected by and report to an oversight committee (the “Liquidating Trust Oversight Committee”) comprised of three members,
two of whom shall be appointed by the Administrative Agent and Lenders with the remaining member to be selected by the creditors’ committee. The identity of the Liquidating Trustee and each member of the Liquidating Trust Oversight Committee
shall be disclosed prior to the hearing on confirmation of the Plan in accordance with section 1129(a)(5) of the Bankruptcy Code.
		
		 	The Liquidating Trustee shall be a representative of the Debtors’ estates and shall (subject to each other applicable paragraph of this section) have the power to make all decisions with respect to the Causes of Action;
provided that the following actions will require prior written approval of a majority of the members of the Liquidating Trust Oversight Committee and (if applicable) approval of the Bankruptcy Court:
		
		 	 (1) selection of any successor Liquidating Trustee;

		
		 	 (2) any decisions related to the Liquidating Trust Facility10 or
any amendment, replacement or alternative thereto including, any determination to draw funds under the Liquidating Trust Facility;

		
		 	 (3) retention of counsel and other professionals to assist in prosecution of the Causes of Action and the terms of each
professional’s engagement, including any alternative fee arrangements; and

		
		 	 (4) settlement of all or any portion of any of the Causes of Action.

		
		 	The Liquidating Trustee shall consult with the Liquidating Trust Oversight Committee with respect to all material decisions regarding (x) the prosecution of the Causes of Action, including (without limitation) the litigation
strategy with respect thereto, and the filing and prosecution of any dispositive or other substantive motion or pleading, and (y) the assertion or waiver of the Debtors’ attorney-client privilege (to which the Liquidating Trust shall
succeed).

  

	10 	“Liquidating Trust Facility” means a financing facility to be entered into by the Liquidating Trustee, on behalf of the Liquidating Trust, to provide financing to the Liquidating Trust to fund (a) the
prosecution of Causes of Action, (b) costs and expenses of administering the Liquidating Trust, and (c) costs and expenses relating to the performance by the Liquidating Trustee of the duties of the Plan Administrator with respect to the
resolution of claims and the making of distributions.     

  
 A-8 

			
		  	In its capacity as a representative of the Debtors’ estates, the Liquidating Trustee also shall administer all claims (as defined in Section 101(5) of the Bankruptcy Code) against the Debtors’ estates and make
distributions under the Plan for Allowed claims. For the avoidance of doubt, the Liquidating Trustee shall have no obligation to object to or dispute (or expend funds to object to or dispute) any claim where, in the Liquidating Trustee’s sole
judgment, the cost of such objection or dispute is not warranted in light of the potential incremental benefit to the remaining creditors.
		
	Liquidating Trust Proceeds Waterfall	  	The proceeds from the settlement or successful prosecution of the Causes of Action shall be distributed as follows (the “Liquidating Trust Proceeds Waterfall”):
		
		  	first, to the payment of the expenses of the Liquidating Trust;
		
		  	second, to the repayment of the Liquidating Trust Facility (including any contingency portion thereof);
		
		  	third, to the repayment of (i) any indebtedness incurred (under the DIP Facility, the Exit Facility or otherwise), or (ii) any proceeds of collateral of the Lenders utilized, in connection with the distributions
made to the Holders of Allowed Administrative Claims, Priority Tax Claims, Priority Claims and Class 4 Claims (Continuing Vendor Claims and Continuing Retail Agent Claims) pursuant to the Plan; and
		
		  	fourth, ratably (i) 80% to the Administrative Agent and Lenders, and (ii) 20% to the GUC Cash Pool.
		
		  	The GUC Cash Pool shall be distributed by the Liquidating Trustee as follows:
		
		  	first, to the Holders of Allowed Claims in Class 5 until paid in full;
		
		  	second, to the Holders of Allowed Claims in Class 6 until paid in full; and
		
		  	thereafter, to the Administrative Agent and Lenders.
	
	GENERAL PROVISIONS
		
	Cancellation of Instruments, Certificates and Other Documents	  	On the Effective Date, except to the extent otherwise provided above, all instruments, certificates, and other documents evidencing debt or equity interests in the Debtors shall be cancelled, and the obligations of the Debtors
thereunder, or in any way related thereto, shall be discharged.

  
 A-9 

			
	Corporate Governance of the Reorganized Debtors	  	The initial officers, managers, and directors of the reorganized Debtors (the “Reorganized Debtors”) shall be selected by the Consenting Lenders and disclosed in accordance with section 1129(a)(5) of the
Bankruptcy Code.
		
	Charter; Bylaws	  	The charter, bylaws, and/or other organizational documents of each of the Debtors shall be amended and restated in a manner consistent with section 1123(a)(6) of the Bankruptcy Code and shall otherwise be satisfactory to the
Consenting Lenders.
		
	Private Company Status	  	The Reorganized Debtors shall be private, non-SEC reporting companies on the Effective Date.
		
	Tax Issues	  	The terms of the Plan and the restructuring contemplated by this Plan Term Sheet shall be structured, with the consent of the Consenting Lenders, which consent shall not be unreasonably withheld, to preserve favorable tax
attributes of the Debtors to the extent practicable.
		
	Retention of Jurisdiction	  	The Plan will provide for the retention of jurisdiction by the Bankruptcy Court for usual and customary matters.
		
	Executory Contracts and Unexpired Leases	  	The Debtors shall seek to assume or reject executory contracts and unexpired leases in consultation with, and with the consent (such consent not to be unreasonably withheld) of the Consenting Lenders.
		
		  	The Plan will provide that the executory contracts and unexpired leases that are not assumed or rejected as of the Effective Date (either pursuant to the Plan or a separate motion) will be deemed rejected pursuant to section 365
of the Bankruptcy Code. For the avoidance of doubt, such consent of the Consenting Lenders shall be required to be obtained with respect to all decisions to assume or reject, including the deemed rejection of executory contracts and unexpired leases
pursuant to the Plan.
		
	Releases	  	The Plan will provide ordinary and customary releases for the Released Parties.

  
 A-10 

			
		  	“Released Party” means each of the following: (a) the Agents; (b) the Lenders; (c) the administrative agent under the DIP Facility (the “DIP Agent”); and (d) the lenders under
the DIP Facility; and with respect to each of the foregoing entities in clauses (a) through (d), such entities’ predecessors, successors and assigns, subsidiaries, affiliates, managed accounts or funds, current or former officers,
directors, principals, shareholders, members, partners, employees, agents, advisory board members, financial advisors, attorneys, accountants, investment bankers, consultants, representatives, management companies, fund advisors and other
professionals, and such entities’ respective heirs, executors, estates, servants and nominees, in each case, solely in their capacity as such.
		
	Other Plan Provisions	  	The Plan and all related documentation shall reflect the terms and conditions of this Plan Term Sheet to the parties’ mutual satisfaction and shall contain such other terms and conditions as the parties mutually agree. The
parties hereto shall negotiate in good faith with respect to the definitive documentation.
		
		  	The distributions on and treatment of claims and interests contemplated herein shall become effective and binding only upon the confirmation and Effective Date of the Plan under Chapter 11 of the U.S. Bankruptcy Code which has
been voted upon and approved in accordance with the applicable provisions of the Bankruptcy Code, and confirmed by the Bankruptcy Court.
		
		  	The proposed confirmation order, the Plan and all related documents (collectively, the “Plan Documents”) shall be in form and substance acceptable to the Administrative Agent and the Lenders.
		
	Conditions to Confirmation and Effective Date	  	Confirmation of the Plan shall be conditioned upon, among other things, the following:
		
		  	(a) An order approving the disclosure statement pursuant to section 1125 of the Bankruptcy Code shall have been entered;
		
		  	(b) The proposed confirmation order, in form and substance acceptable to the Administrative Agent and the Lenders, shall have been submitted to the Bankruptcy Court (the “Confirmation Order”);
		
		  	(c) Receipt of, and acceptance by the Debtors of, a proposal for the Exit Facility in form and substance acceptable to the Administrative Agents and the Lenders;
		
		  	(d) The aggregate amount of Allowed Administrative Expense Claims, Priority Tax Claims and Priority Claims shall not exceed an amount to be agreed between the Debtors, the Administrative Agent and the Lenders; and

  
 A-11 

			
		 	(d) Receipt of, and acceptance by the Debtors of, a proposal for the Liquidating Trust Facility in form and substance acceptable to the Administrative Agents and the Lenders (which proposal may be provided by the Reorganized
Debtors).
		
		 	The effective date of the Plan (the “Effective Date”) shall be conditioned upon, among other things, the following:
		
		 	(a) Entry of the Confirmation Order and the Confirmation Order being a final order not subject a stay or any appeal,
		
		 	(b) All conditions to the effectiveness of each of the Exit Facility, Liquidating Trust Facility and the Equity Purchase Agreement shall have been satisfied or waived;
		
		 	(c) the Liquidating Trust shall have been established; and
		
		 	(d) the Effective Date of shall have occurred by the date that is 120 days after the date on which the Chapter 11 Cases were commenced unless such date is extended with the prior written consent of the Administrative Agent and
Lenders.

  
 A-12 

 EXHIBIT B 

Form of Transfer Agreement 

 FORM OF TRANSFER AGREEMENT FOR CONSENTING PARTIES 

This Transfer Agreement to the Restructuring Support Agreement, dated as of November     , 2017 (as amended, supplemented
or otherwise modified from time to time, the “Agreement”), by and among the Company1 and the other parties signatory thereto (together with their respective successors and
permitted assigns, the “Consenting Parties,” and each, a “Consenting Party”) is executed and delivered by
[                    ] (the “Joining Party”) as of
[                    ]. Each capitalized term used herein but not otherwise defined shall have the meaning set forth in the Agreement. 

1.    Agreement to be Bound. The Joining Party hereby agrees to be bound by all of the terms of the Agreement, a
copy of which is attached to this Transfer Agreement as Annex I (as the same has been or may be hereafter amended, restated or otherwise modified from time to time in accordance with the provisions hereof). The Joining Party shall hereafter
be deemed to be a “Consenting Party” and a “Party” for all purposes under the Agreement and with respect to any and all Lender Claims held by such Joining Party. 

2.    Governing Law. This Transfer Agreement shall be governed by and construed in accordance with the internal law
of the State of New York, without regard to any conflicts of law provisions which would require the application of the law of any other jurisdiction. 

* * * * * 

[THE REMAINDER OF THIS PAGE IS
INTENTIONALLY LEFT BLANK] 
  

 

	1 	The “Company” shall mean, collectively, (i) Patriot National, Inc., a Delaware corporation, (ii) Patriot Services, LLC, a Delaware limited liability company, (iii) Contego Investigative
Services, Inc., a Delaware corporation, (iv) Corporate Claims Management, Inc., a Delaware corporation, (v) CWI Benefits, Inc., a Delaware corporation, (vi) Forza Lien, LLC, a Delaware limited liability company, (vii) Radar
Post-Closing Holding Company, Inc. (f/k/a Global HR Research, Inc.), a Delaware corporation, (viii) Patriot Audit Services, LLC, a Delaware limited liability company, (ix) Patriot Captive Management, LLC, a Delaware limited liability
company, (x) Patriot Care Management, LLC, a Delaware limited liability company, (xi) Patriot Claim Services, Inc., a Delaware corporation, (xii) Patriot Risk Consultants, LLC, a Delaware limited liability company, (xiii) Patriot
Risk Services, Inc., a Delaware corporation, (xiv) Patriot Technology Solutions, LLC, a Delaware limited liability company, (xv) Patriot Underwriters, Inc., a Delaware corporation, (xvi) TriGen Insurance Solutions, Inc., a Delaware
corporation, (xvii) TriGen Hospitality Group, Inc., a Delaware corporation, (xviii) Contego Services Group, LLC, a Delaware limited liability company, and (xix) Decision UR, LLC, a California limited liability company.

 IN WITNESS WHEREOF, the Joining Party has caused this Transfer Agreement to be executed as of the
date first written above. 
  

			
	 [CONSENTING
PARTY]

			
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
		
	Principal Amount of Lender Claims:	  	$             

  

	
	Notice Address:
	
	Fax:
	Attention:
	Email:

  
 2 

[Signature page to Joinder Agreement] 

 ANNEX I TO TRANSFER AGREEMENT 

Restructuring Support Agreement

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