Document:

sybx-ex102_148.htm

 

EXHIBIT 10.2

 

Confidential

Execution Copy

 

[***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

 

 

Pilot Collaboration and Option Agreement

 

 

This pilot collaboration and option agreement is entered into as of the Effective Date (as defined below) by and between Hoffmann-La Roche Inc., with an office and place of business at 150 Clove Road, Suite 8, Little Falls, New Jersey 07424, U.S.A. ("Roche US") and F. Hoffmann-La Roche Ltd, located at Grenzacherstrasse 124, 4070 Basel, Switzerland ("Roche Basel", Roche Basel and Roche US together referred to as “Roche”), on the one hand, and Synlogic Operating Company, Inc., located at 301 Binney St., Suite 402, Cambridge, MA 02142 (hereafter referred to as “Synlogic”), on the other hand.

 

WHEREAS, Synlogic has expertise and capabilities to discover and to develop clinical drug candidates using [***]; and 

 

WHEREAS, Roche has expertise and capabilities in the discovery, development and commercialization of innovative therapeutics in inflammatory bowel diseases; and

 

WHEREAS, the Parties are interested to enter into a pilot collaboration and option agreement to research and pre-clinically develop potential novel [***] inflammatory bowel diseases, as further outlined herein; and

 

WHEREAS, Roche may elect to commence negotiations for a definitive collaboration and license agreement based on the license term sheet attached to this pilot collaboration agreement and as further outlined herein.

 

NOW THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:

 

	
1
	
Definitions

 

As used in this Agreement, the following terms, whether used in the singular or plural, shall have the following meanings:

 

	
1.1
	
Accounting Standards 

The term “Accounting Standards” shall mean, with respect to a Party or its Affiliate, GAAP or IFRS, as such Party or its Affiliate uses for its financial reporting obligations, in each case, consistently applied.

 

 

 

 

	
1.2
	
Acquirer

The term “Acquirer” shall mean, with respect to a Party, the person or entity, or group of persons or entities, that is the acquirer of, or a successor to, a Party in connection with a Change of Control, together with Affiliates of such persons or entities that are not Affiliates of such Party immediately prior to the completion of such Change of Control of such Party.

 

	
1.3
	
Affiliate

The term “Affiliate” shall mean any individual, corporation, association or other business entity that directly or indirectly controls, is controlled by, or is under common control with an individual, corporation, association or other business entity in question. As used in this definition of “Affiliate,” the term “control” shall mean the direct or indirect ownership of more than fifty percent (>50%) of the stock having the right to vote for directors thereof or the ability to otherwise control the management of the corporation, association or other business entity whether through the ownership of voting securities, by contract, resolution, regulation or otherwise. Anything to the contrary in this paragraph notwithstanding, Chugai Pharmaceutical Co., Ltd, a Japanese corporation (“Chugai”) and/or its subsidiaries (if any) shall not be deemed as Affiliates of Roche unless Roche provides written notice to Synlogic of its desire to include Chugai and/or its respective subsidiaries (as applicable) as Affiliate(s) of Roche.

 

	
1.4
	
Agreement

The term “Agreement” shall mean this document including any and all appendices and amendments to it as may be added and/or amended from time to time in accordance with the provisions of this Agreement.

 

	
1.5
	
Applicable Law

The term “Applicable Law” shall mean all applicable laws, statutes, rules, regulations and other pronouncements having the effect of law of any federal, national, multinational, state, provincial, county, city or other political subdivision, agency or other body, domestic or foreign, including any applicable rules, regulations, guidelines, or other requirements of the Regulatory Authorities that may be in effect from time to time, including the United States Federal Food, Drug, and Cosmetic Act, as amended, GCP, GLP and GMP, anti-bribery laws, such as the United States Anti-Kickback Statute, Foreign Corrupt Practices Act and UK Bribery Act, as well as all applicable data protection and privacy laws, rules and regulations, including the United States Department of Health and Human Services privacy rules under the Health Insurance Portability and Accountability Act, as amended, and the Health Information Technology for Economic and Clinical Health Act and the EU General Data Protection Regulation 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC, along with other country-level data protection laws, as may be applicable.

 

	
1.6
	
Change of Control

The term “Change of Control” shall mean, with respect to a Party: (a) the acquisition by any Third Party, together with its Affiliates, if applicable, of beneficial ownership of fifty percent (50%) or more of the then outstanding equity securities or combined voting power of such Party, other than acquisitions by employee benefit plans sponsored or maintained by such Party; (b) the consummation of a business combination involving such Party with a Third Party, unless, following such business combination, the stockholders of such Party immediately prior to such business combination beneficially own directly or indirectly more than fifty percent (50%) of the then outstanding securities or combined voting power of the surviving entity or the parent of the surviving entity immediately after such business combination; or (c) the sale of all or substantially 

 

 

all of such Party’s and its Affiliates’, if applicable, assets or business relating to the subject matter of this Agreement.

 

	
1.7
	
CLA

The term “CLA” shall mean the collaboration and license agreement between the Parties for which Roche may elect to commence negotiations in accordance with Article 2.11.

 

	
1.8
	
Commercially Reasonable Efforts

The term “Commercially Reasonable Efforts” shall mean such level of efforts consistent with the efforts Roche or Synlogic, as applicable, devotes at the same stage of research, development or commercialization, as applicable, for its own internally discovered or developed pharmaceutical products in a similar area with similar market potential, at a similar stage of their product life taking into account the existence of other competitive products in the market place or under research or development, the proprietary position of the product, the regulatory structure involved, the anticipated profitability of the product and other relevant factors. It is understood that such product potential may change from time to time based upon changing scientific, business, marketing, and return on investment considerations.

 

	
1.9
	
Competitive Product

The term “Competitive Product” shall mean any compound or product that specifically regulates, through activation of or agonizing, the Target. For clarity, a Product Candidate is a Competitive Product.

 

	
1.10
	
Confidential Information 

The term “Confidential Information” shall mean any and all information, data or know-how (including Know-How), whether technical or non-technical, oral or written, that is disclosed by one Party or its Affiliates (“Disclosing Party”) to the other Party or its Affiliates (“Receiving Party”). Confidential Information shall not include any information, data or know-how that:

	
 
	
(i)
	
was generally available to the public at the time of disclosure, or becomes available to the public after disclosure by the Disclosing Party other than through fault (whether by action or inaction) of the Receiving Party or its Affiliates,

	
 
	
(ii)
	
can be evidenced by written records to have been already known to the Receiving Party or its Affiliates prior to its receipt from the Disclosing Party,

	
 
	
(iii)
	
is obtained by the Receiving Party or its Affiliates at any time lawfully from a Third Party under circumstances permitting its use or disclosure,

	
 
	
(iv)
	
is developed independently by the Receiving Party or its Affiliates other than through knowledge of Confidential Information as evidenced by written records, or

(v)is approved in writing by the Disclosing Party for release by the Receiving Party.

 

The terms of this Agreement shall be considered Confidential Information of the Parties.

 

	
1.11
	
Control

The term “Control” shall mean (as an adjective or as a verb including conjugations and variations such as “Controls” “Controlled” or “Controlling”) (a) with respect to Patent Rights and/or Know-How (including a Party’s interest in any jointly-owned Patent Right or Know-How), the possession by a Party of the ability to grant an assignment, a license or sublicense, as applicable, of such Patent Rights and/or Know-How (other than pursuant to this Agreement) without violating the terms of any agreement or arrangement between such Party and any other party and (b) with respect to proprietary materials, the possession by a Party of the ability to supply such proprietary materials to the other Party as provided herein without violating the terms of any agreement or 

 

 

arrangement between such Party and any other party, in each case, (a) and (b), without being obligated to pay any royalties or other consideration therefor to any Third Parties.

 

	
1.12
	
Deliverables

The term “Deliverables” shall mean the deliverables as defined in the Study Plan and all data packages, reports, data, samples, or other materials generated under the Study Plan.

 

	
1.13
	
[***].

 

	
1.14
	
Effective Date

The term “Effective Date” shall mean the date of the last signature on this Agreement.

 

	
1.15
	
[***].

 

	
1.16
	
[***].

 

	
1.17
	
[***].

 

	
1.18
	
Executive Officer

The term “Executive Officer” shall mean with regard to Synlogic, the chief executive officer, or his or her designee, and with regard to Roche, the head of Pharma Partnering Alliance Management, or his or her designee.

 

	
1.19
	
Expert

The term “Expert” shall mean a person with [***]. Such person shall be fluent in the English language.

 

	
1.20
	
Force Majeure Event

The term “Force Majeure Event” shall mean an event beyond the reasonable control of the affected Party not caused by the fault or negligence of such Party, such as an embargo, war, act of war (whether war be declared or not), act of terrorism, insurrection, riot, civil commotion, strike, lockout or other labor disturbance, fire, flood, earthquake, epidemic, pandemic or other act of God or act, omission or delay in acting by any governmental authority.

 

	
1.21
	
FTE 

The term “FTE” shall mean [***], which number of hours will be pro-rated based on the number of days when used for periods of less than [***] months, devoted to or in support of research or development activities under the Rescue Plan that is carried out by one or more qualified scientific or technical employees (excluding Third Party contractors) of a Party or its Affiliates, as applicable. Notwithstanding the foregoing, the time of a single individual will not account for more than one (1) FTE for a given Calendar Year (or applicable pro-rata portion of an FTE during any Calendar Quarter or other period of less than a Calendar Year).

 

	
1.22
	
FTE Costs 

The term “FTE Costs” shall mean, for any period, the FTE Rate multiplied by the number of FTEs who perform a specified activity under this Agreement. FTEs will be pro-rated on a daily basis if necessary.

 

	
1.23
	
FTE Rate 

The term “FTE Rate” shall mean, with respect to research or development activities under the Rescue Plan, $[***] per FTE. The FTE Rate includes (a) all wages and salaries, employee 

 

 

benefits, bonus, travel and entertainment, supplies and other direct expenses and (b) indirect allocations, including all general and administrative expenses, human resources, finance, occupancy and depreciation, in each case ((a) and (b)), expended in connection with relevant activities.

 

	
1.24
	
GAAP 

The term “GAAP” shall mean United States generally accepted accounting principles, consistently applied.

 

	
1.25
	
GCP

The term “GCP” shall mean good clinical practices, which are the then-current standards for Clinical Trials for pharmaceuticals, as set forth in the FD&C Act, ICH Guideline Q7A, or other Applicable Law, and such standards of good clinical practice as are required by the Regulatory Authorities of the European Union and other organizations and governmental authorities in countries for which the applicable Product Candidate or Product is intended to be developed, to the extent such standards are not less stringent than United States standards or ICH Guidelines.

 

	
1.26
	
GLP 

The term “GLP” shall mean the then-current good laboratory practice standards promulgated or endorsed by the FDA as defined in 21 C.F.R. Part 58, or the successor thereto, or comparable regulatory standards in jurisdictions outside of the United States as they may be updated from time to time, to the extent such standards are not less stringent than United States standards.

 

	
1.27
	
GMP 

The term “GMP” shall mean the then-current Good Manufacturing Practices as specified in Applicable Law, including the United States Code of Federal Regulations, ICH Guideline Q7A, or equivalent laws, rules or regulations of an applicable Regulatory Authority at the time of manufacture.

 

	
1.28
	
Governmental Authority 

The term “Governmental Authority” shall mean any applicable government authority, court, council, tribunal, arbitrator, agency, department, bureau, branch, office, legislative body, commission or other instrumentality of (a) any government of any country or territory, (b) any nation, state, province, county, city, or other political subdivision thereof, or (c) any supranational body.

 

	
1.29
	
Insolvency Event

The term “Insolvency Event” shall mean circumstances under which a Party (i) has a receiver or similar officer appointed over all or a material part of its assets or undertaking; (ii) passes a resolution for winding-up (other than a winding-up for the purpose of, or in connection with, any solvent amalgamation or reconstruction) or a court makes an order to that effect or a court makes an order for administration (or any equivalent order in any jurisdiction); (iii) enters into any composition or arrangement with its creditors (other than relating to a solvent restructuring); (iv) ceases to carry on business; or (v) is unable to pay its debts as they become due in the ordinary course of business.

 

	
1.30
	
IFRS 

The term “IFRS” shall mean International Financial Reporting Standards.

 

 

 

 

	
1.31
	
JOT

The term “JOT” shall mean the joint operation team described in Section 3.2.

 

	
1.32
	
JRC

The term “JRC” shall mean the joint research committee described in Section 3.1.

 

	
1.33
	
Know-How

The term “Know-How” shall mean any inventions, discoveries, data, knowledge, information and materials, including samples, chemical manufacturing data, toxicological data, pharmacological data, preclinical and clinical data, results, formulas, trade secrets, techniques, methods, processes, procedures, technology, practices, chemical structures, nucleic and amino acid sequences, assays, platforms, formulations, specifications and quality control testing data.

 

	
1.34
	
Material Delay

The term “Material Delay” shall mean any unanticipated delay of greater than [***] consecutive days in the timeline for a Party to conduct its respective activities under the Rescue Plan or Study Plan for Part B2, including but not limited to (i) non-scientific events, including for example, a Force Majeure Event, or (ii) scientific events independent of the performance of Product Candidate features, but which materially impacts the ability to assess the data package for Part B2, including for example, failure of the positive/negative control to work as expected or failure of the experimental model.

 

	
1.35
	
Materials

The term “Materials” means all biological materials, chemical compounds and other materials provided by such Party to the other Party for use by the other Party to conduct activities pursuant to this Agreement. 

 

	
1.36
	
Out-of-Pocket Costs

The term “Out-of-Pocket Costs” means, with respect to a Party, costs and expenses paid by such Party or its Affiliates to Third Parties (or payable to Third Parties and accrued in accordance with Accounting Standards), other than employees of such Party or its Affiliates.

 

	
1.37
	
Patent Rights

The term “Patent Rights” shall mean all rights under any patent or patent application, in any country worldwide, including any provisional, non-provisional, substitution renewal, divisional, continuation or continuation-in-part and all patents granted thereon, and all reissues, re-examinations, extensions, confirmations, revalidations, registrations and patents of addition thereof, including patent term extensions and supplementary protection certificates, international patent applications filed under the Patent Cooperation Treaty (PCT) and any foreign equivalents to any of the foregoing.

 

	
1.38
	
Party

The term “Party” shall mean Synlogic or Roche, as the case may be, and “Parties” shall mean Synlogic and Roche collectively.

 

	
1.39
	
Product Candidate

The term “Product Candidate” shall mean [***].

 

	
1.40
	
Product

The term “Product” shall mean any product, including any combination product, containing a Product Candidate as an active ingredient regardless of their finished form, formulation or dosage.

 

 

 

	
1.41
	
Regulatory Authority 

The term “Regulatory Authority” shall mean, with respect to a given country, any national (e.g., the FDA), supra-national (e.g., the European Commission, the Council of the European Union, or the EMA), regional, state or local regulatory agency, department, bureau, board, commission, council or other Governmental Authority that holds responsibility for development, commercialization or manufacturing of, and the granting of marketing approval for a pharmaceutical product in such country or region.

 

	
1.42
	
Rescue Plan Costs

The term Rescue Plan Costs” shall mean FTE Costs and Out-of-Pocket Costs incurred by or on behalf of a Party or its Affiliates in the conduct of research and development activities in accordance with any Rescue Plan.

 

	
1.43
	
Synlogic Platform Technology

The term “Synlogic Platform Technology” shall mean [***].   

 

	
1.44
	
Synthetic Biotic Medicines

The term “Synthetic Biotic Medicines” shall mean [***].

 

	
1.45
	
Target

The term “Target” shall mean [***].

 

	
1.46
	
Third Party 

The term “Third Party” shall mean a person or entity other than (i) Synlogic or any of its Affiliates or (ii) Roche or any of its Affiliates.

 

	
1.47
	
Additional Definitions

Each of the following definitions is set forth in the Section of this Agreement indicated below:

 

	
Definition
	
Section

	
Alliance Director
	
3.4

	
Acquired Party
	
7.2

	
Auditing Party
	
5.5.1

	
Audited Party
	
5.5.1

	
Breaching Party
	
12.2.1

	
Chairperson
	
3.1.2

	
CLA Term Sheet
	
2.11

	
Collaboration Know-How
	
9.1.2

	
Collaboration Patent Rights
	
9.1.2

	
Collaboration Technology
	
9.1.2

	
Development Budget
	
5.2.1

	
Disclosing Party
	
1.11

	
Expert Committee
	
3.3

	
Filing Party
	
6.2

	
ICC
	
13.11

	
Indemnified Party
	
11.3

	
Indemnifying Party
	
11.3

	
Losses
	
11.1

	
Members 
	
3.1.2

	
Non-Breaching Party
	
12.2.1

 

 

	
Non-Filing Party
	
6.2

	
Non-Publishing Party
	
6.4

	
Option Exercise Deadline
	
4

	
Option Right 
	
4

	
Other Acquired Program
	
8

	
Part
	
2.1

	
Part A Payment Trigger Date
	
2.7.2

	
Part B1 Payment Trigger Date
	
2.7.2

	
Part B2 Payment Trigger Date
	
2.7.2

	
Payment Trigger Dates
	
2.7.2

	
Peremptory Notice Period
	
12.2.1

	
Pilot Collaboration 
	
2.1

	
Provision Date
	
2.7.1

	
Publishing Party
	
6.4

	
Receiving Party
	
1.11

	
Re-Negotiation Period
	
2.10

	
Re-Negotiation Request
	
2.10

	
Representatives
	
6.1

	
Rescue Plan
	
2.8

	
Rescue Plan Decision Period
	
2.8

	
Roche Indemnitees
	
11.1

	
Sensitive Information
	
7

	
Sharing Date
	
6.3

	
Study Plan
	
2.2

	
Success Criteria
	
2.2

	
Success Criteria Failure Expiration
	
2.8

	
Synlogic Acquisition
	
7.3

	
Synlogic Acquisition Program
	
7.3

	
Synlogic COC Program
	
7.2

	
Synlogic Indemnitees
	
11.2

	
Third Party Acquisition
	
8

	
Third Party Claims
	
11.1

 

	
2
	
Conduct of the Pilot Collaboration

 

	
2.1
	
Scope 

The goals of the collaboration under this Agreement (“Pilot Collaboration”) are for the Parties to research and pre-clinically develop Product Candidates by [***]. The Pilot Collaboration is divided into three parts, which shall each be defined in the Study Plan: “Part A”, “Part B1” and “Part B2” (each a “Part”).

 

	
2.2
	
Study Plan 

The detailed study plan for the Pilot Collaboration is attached hereto as Appendix 1 (“Study Plan”). The Parties will conduct the Pilot Collaboration in accordance with the Study Plan with oversight by the JRC. Subject to Section 3.1.4 (g), the Study Plan may only be modified by written agreement of the Parties; provided that the Study Plan shall at all times set forth (a) the three Parts of the Pilot Collaboration and a list of defined success criteria (“Success Criteria”) for each Part, (b) the work to be performed by Synlogic and/or Roche, (c) the Material(s) to be provided by Roche to Synlogic and by Synlogic to Roche, respectively,  (d) the expected Deliverables, including data packages, to be provided by each Party during the Pilot Collaboration. 

 

 

 

 

	
2.3
	
Transfer of Materials

To facilitate the conduct of activities under the Study Plan (and Rescue Plan, as applicable), each Party will provide such Materials specified in the Study Plan (and Rescue Plan, as applicable) to the other Party in reasonable quantities to permit such other Party to conduct its respective activities under the Study Plan (and Rescue Plan, as applicable). All Materials transferred pursuant to this Section 2.3: (a) will be provided according to DAP (address of the receiving Party) Incoterms® 2020, (b) will remain the sole property of the supplying Party, (c) will be used only in the fulfilment of the receiving Party’s obligations or exercise of rights under this Agreement, (d) will remain solely under the control of the receiving Party, (e) will not be used or delivered by the receiving Party to or for the benefit of any Third Party (other than a subcontractor permitted in accordance with Section 8.3) without the prior written consent of the supplying Party, and (f) will not be used in research or testing involving human subjects, unless expressly agreed in writing. The receiving Party will use the Materials in compliance with Applicable Laws and the terms and conditions of this Agreement, and will not reverse engineer or chemically analyse such Materials, except as specified in the Study Plan or Rescue Plan. All Materials supplied under this Section 2.3 that are not Deliverables are supplied “as is”, with no warranties of fitness for a particular purpose and must be used with prudence and appropriate caution in any experimental work, as not all of their characteristics may be known.

 

	
2.4
	
Diligent Efforts

Roche and Synlogic shall each use Commercially Reasonable Efforts to perform their respective tasks and obligations in conducting all activities ascribed to it in the then-current Study Plan and any Rescue Plan, as applicable, in accordance with the time parameters and the Rescue Plan Costs set forth therein.

 

	
2.5
	
Records  

Each Party will maintain, and cause its Affiliates and subcontractors to maintain, records of the activities undertaken pursuant to the Study Plan or Rescue Plan in sufficient detail and in good scientific manner appropriate for scientific, patent and regulatory purposes, which will be complete and accurate in all material respects and will fully and properly reflect all work done, data and developments made, and results achieved.

 

	
2.6
	
Reporting

Each Party will furnish to the JRC, within [***] days after the end of each calendar quarter, to the extent applicable to such Party, an update on such Party’s progress under the Study Plan or Rescue Plan during the relevant calendar quarter, including a summary of any results and data generated by such Party under such Study Plan or Rescue Plan. Such Party will provide the JRC with such other information, results and data with respect to the research activities under the Study Plan or Rescue Plan as any member of the JRC may reasonably request that are in such Party’s possession or control.  

 

	
2.7
	
Provision of Data Packages; Achievement of Success Criteria

 

	
2.7.1
	
Provision of Data Packages

With respect to each of Part A, Part B1, and Part B2 of the Study Plan or Rescue Plan, as applicable, upon the JOT’s reasonable belief (as determined in good faith) that the Success Criteria for such Part has been achieved, Synlogic will provide a data package with all data and results for its respective activities for such Part as required under the Study Plan or the applicable Rescue Plan (the date such data package is provided, the “Provision Date”). After the Provision Date for a given Part, the JRC will meet within [***] days after the Provision Date to review the full data package and determine whether or not the Success Criteria have been met for such Part.  

 

 

 

	
2.7.2
	
Achievement of Success Criteria

Upon the JRC’s determination that the Success Criteria for Part A have been met (including after any Rescue Plan, if applicable) (the “Part A Payment Trigger Date”), Roche will pay Synlogic the milestone payment set forth in Section 5.1.2. Upon the JRC’s determination that the Success Criteria for Part B1 have been met (including after any Rescue Plan, if applicable) (the “Part B1 Payment Trigger Date”), Roche will pay Synlogic the milestone payment set forth in Section 5.1.3. Upon the JRC’s determination that the Success Criteria for Part B2 have been met (including after any Rescue Plan, if applicable) (the “Part B2 Payment Trigger Date”, and, together with the Part A Payment Trigger Date and the Part B1 Payment Trigger Date, the “Payment Trigger Dates”), Roche will pay Synlogic the milestone payment set forth in Section 5.1.4.  

 

	
2.8
	
Rescue Plan

 

With respect to each of Part A, Part B1, and Part B2 of the Study Plan, if, following the Provision Date, the JRC determines that the Success Criteria have not been met for such Part (a “Success Criteria Failure Determination”), then within [***] days after the Provision Date (“Rescue Plan Decision Period”), Roche may request in writing for the JRC to discuss an additional plan for such Part for additional optimization or experiments to be performed by the Parties with the goal of achieving the Success Criteria for such Part. In the event that the Parties mutually agree on the activities to be conducted pursuant to an additional plan for such Part, then the Parties will document such additional activities in a “Rescue Plan” for such Part, including (i) a list of activities to be conducted by the Parties, (ii) an estimated timeline to conduct such activities, and (iii) the Rescue Plan Costs for such activities, broken down by Party. 

 

	
2.9
	
Success Criteria Failure Expiration

 

	
2.9.1
	
Without Rescue Plan

	
(a)
	
A Success Criteria Failure Determination occurs with respect to Part A or Part B1 on the earlier of, as applicable, (i) the date that the Parties conclude they are unable to agree upon a Rescue Plan, after Roche has made a timely request for a Rescue Plan in accordance with Section 2.8, or (ii), if Roche has failed to make a timely request for a Rescue Plan in accordance with Section 2.8 the expiration of the Rescue Plan Decision Period; provided, however, that Roche may issue the Re-Negotiation Request before the occurrence of the Success Criteria Failure Expiration pursuant to Article 3. 

	
(b)
	
A Success Criteria Failure Determination occurs with respect to Part B2 on the expiration of the Rescue Plan Decision Period (or such earlier time as Roche notifies Synlogic that it will not initiate negotiations of the CLA), if Roche has not initiated negotiations of the CLA, on the expiration of the Rescue Plan Decision Period), and Roche shall not have the right to issue a Re-Negotiation Request.

	
(c)
	
A Success Criteria Failure Determination occurs with respect to Part B2 on the date that the Parties conclude they are unable to agree upon a Rescue Plan under Section 2.8, if Roche requests a Rescue Plan prior to the end of the Rescue Plan Decision Period. 

 

	
2.9.2
	
With Rescue Plan

If Roche timely requests a Rescue Plan with respect to either Part A or Part B1 and the Parties agree upon a Rescue Plan, and thereafter it is determined in accordance with Section 2.7.1 that 

 

 

the Success Criteria for such Part are not met upon completion of the applicable Rescue Plan, then Success Criteria Failure Expiration shall be deemed to have occurred with respect to such Part on the date that the JRC determines that the Success Criteria have not been met under such Rescue Plan. Notwithstanding the foregoing, if Roche issues a Re-Negotiation Request within [***] days thereafter, then Section 2.10 shall apply.

 

	
2.10
	
Re-Negotiation Request

Roche has a [***] right prior to the Option Exercise Deadline to issue a written request to re-negotiate the scope of this Agreement (a “Re-Negotiation Request”). If Roche issues a Re-Negotiation Request, then for a period of [***] days thereafter (or until such time as Roche informs Synlogic that it desires to terminate such negotiations, if earlier) (the “Re-Negotiation Period”), the Parties will negotiate in good faith a new pilot collaboration agreement or other agreement, including a potential change of scope for targets other than the Target, the scope of the transaction and the associated economics for such transaction. If the Parties are unable to mutually agree to a new pilot collaboration agreement or other agreement during the [***] day period following the date of the Re-Negotiation Request, then the Parties will have no further obligation under this Section 2.10. 

 

	
2.11
	
CLA Negotiations

At any time after the Effective Date but no later than [***] days after the Payment Trigger Date for Part B2 (including provision of any applicable Rescue Plan), Roche may elect to initiate negotiations of the CLA. If Roche initiates such negotiations, the Parties shall negotiate with each other in good faith, which good faith requires adherence to the terms included in the CLA term sheet attached hereto as Appendix 2 (the “CLA Term Sheet”). If the CLA is not executed by the Parties prior to the Option Exercise Deadline, then the Parties will have no further obligations to negotiate with each other (unless Roche has issued a Re-Negotiation Request in accordance with Section 2.10).

 

	
3
	
Governance

 

	
3.1
	
Joint Research Committee 

 

	
3.1.1
	
Establishment of JRC

As of the Effective Date, the Parties shall establish a JRC to oversee and manage the Pilot Collaboration, Study Plan and/or Rescue Plan, as applicable. 

 

	
3.1.2
	
JRC Members

The JRC shall be composed of [***] (“Members”). Roche and Synlogic each shall be entitled to appoint [***] Members with appropriate seniority and functional expertise. Each Party may replace any of its Members and appoint a person to fill the vacancy arising from each such replacement. A Party that replaces a Member shall notify the other Party at least [***] days prior to the next scheduled meeting of the JRC. Both Parties shall use reasonable efforts to keep an appropriate level of continuity in representation. Both Parties may invite a reasonable number of additional experts and/or advisors to attend part or the whole JRC meeting with prior notification to the JRC. The Alliance Director of each Party may attend the JRC meetings as a permanent participant. Members may be represented at any meeting by another person designated by the absent Member. The JRC shall be chaired by a [***] (“Chairperson”), unless agreed otherwise by the JRC.

 

 

 

	
3.1.3
	
Meetings.  

The format (virtual or in person) and venue for the meetings shall be agreed by the JRC. The JRC will meet at least once every [***] months or as agreed by the JRC to plan, review and discuss the progress of the Pilot Collaboration. Notwithstanding the foregoing, in any case where a matter within the JRC’s authority arises, the JRC will convene a meeting, either virtually or in person, and consider such matter as soon as reasonably practicable, but in no event later than [***] days after the matter is first brought to the JRC’s attention (or, if earlier, at the next regularly scheduled JRC meeting). Alternatively, the JRC may decide to take decisions by email.). 

	
3.1.4
	
Responsibilities of JRC.

The JRC shall have the responsibility and authority to:  

	
(a)
	
review and oversee the execution of the Study Plan and/or Rescue Plan, as applicable, for the Pilot Collaboration, including the Success Criteria for each Part, the work to be performed by Synlogic and/or Roche, the Material(s) to be provided by Roche to Synlogic and by Synlogic to Roche, respectively, and the expected deliverables and data packages to be provided by each Party during the Pilot Collaboration; 

	
(b)
	
review the efforts of the Parties under the Pilot Collaboration;

	
(c)
	
discuss appropriate resources necessary to conduct the Rescue Plan, as applicable; 

	
(d)
	
establish, oversee and set expectations and mandates for the JOT;

	
(e)
	
recommend action items to each Party’s respective decision making bodies; 

	
(f)
	
attempt to resolve any disputes on an informal basis; and

	
(g)
	
make minor consensual changes to the Study Plan, provided that such changes do not affect Deliverables, Success Criteria and timelines and budget.

 

The JRC shall have no responsibility and authority other than that expressly set forth in this Section 3.1.4.

 

	
3.2
	
Joint Operation Team

The JRC shall establish a JOT with respect to the day-to-day conduct of certain activities under the Study Plan or any Rescue Plan. The JOT shall be composed of representatives designated by each Party. Representatives must be appropriate for the tasks then being undertaken and the stage of research or pre-clinical development, in terms of their seniority, availability, function in their respective organizations, training and experience. Each Party shall designate one of its representatives as its primary JOT contact. Each Party may replace its representatives from time to time upon written notice to the other Party; provided, however, if a Party’s representative is unable to attend a meeting, such Party may designate a knowledgeable alternate to attend such meeting and perform the functions of such representative. The JOT will be responsible for overseeing the day-to-day execution of the Study Plan and for reviewing the Parties’ progress thereunder, subject to the oversight by the JRC. The JOT shall meet at least monthly by audio or video teleconference or as otherwise agreed by the JOT. For the avoidance of doubt, the JOT is not a decision-making body. 

 

	
3.3
	
Dispute Resolution 

The JRC shall operate by consensus, with each of the [***] of each Party having collectively [***]. In the event consensus cannot be reached, the following rules shall apply:

 

 

	
(a)
	
in the event of a dispute over whether the Part A or Part B1 Success Criteria have been met, then Roche shall have the final say, which shall be made in good faith;

	
(b)
	
in the event of a dispute over whether the Part B2 Success Criteria have been met, then the matter will be escalated to the respective designated Executive Officer for each Party for a good faith resolution. 

If the Executive Officers are unable to resolve the matter within [***] days of such referral, then such dispute shall be resolved by the Expert Committee as follows: Roche will select one (1) Expert, Synlogic will select one (1) Expert, and those two (2) Experts shall select the Expert, who shall then be chairman of a committee of the three (3) Experts (the “Expert Committee”), each with a single deciding vote. The Expert Committee will promptly hold a meeting to review the issue under review, at which meeting it will consider memoranda based on the data package for Part B2 submitted by each Party at least [***] days before the meeting, as well as reasonable additional arguments that each Party may present at the meeting. The Expert Committee shall then within [***] days after the meeting, make a determination on such dispute. The determination of the Expert Committee as to the dispute under review will be binding on both Parties. The Parties will share equally in the costs of the Expert Committee. Unless otherwise agreed to by the Parties, the Expert Committee may not decide on issues outside the scope mandated under terms of this Agreement.

	
(c)
	
Other than a dispute over whether the Success Criteria have been met, 

	
 
	
(i)
	
[***], and

 

	
 
	
(ii)
	
[***].

 

	
3.4
	
Alliance Director

Each Party shall appoint one person to be its point of contact with responsibility for facilitating communication and collaboration between the Parties (each, an “Alliance Director”). The Alliance Directors shall be permanent participants of the JRC meetings (but not members of the JRC) and may attend JOT meetings as appropriate. The Alliance Directors shall facilitate resolution of potential and pending issues and potential disputes to enable the JRC to reach consensus and avert escalation of such issues or potential disputes.

 

	
3.5
	
Limitations of Authority

The JRC, the JOT or any other committee shall have no authority to amend or waive any terms of this Agreement, nor shall the JRC, the JOT or any other committee have the authority to determine whether a Party is in breach of this Agreement.

 

	
3.6
	
Expenses

Each Party shall be responsible for its own expenses including travel and accommodation costs incurred in connection with the JRC, the JOT or any other committee.

 

	
3.7
	
Lifetime

The JRC shall exist until the completion of the Pilot Collaboration, unless otherwise agreed in the CLA. The JOT shall exist until the completion of the Pilot Collaboration.

 

	
4
	
Option Right

Synlogic hereby grants Roche an exclusive option right (“Option Right”) which, if exercised by Roche, shall grant to Roche the rights and licenses set forth in the definitive CLA negotiated and 

 

 

executed in accordance with Section 2.11. Roche may exercise its Option Right at any time prior to the Option Exercise Deadline. “Option Exercise Deadline” shall mean the earliest of:

	
(a)
	
the expiration or termination of this Agreement, or

	
(b)
	
the [***] anniversary of the Effective Date if the Success Criteria for Part A have not been achieved by such date, or

	
(c)
	
the [***] anniversary of the date of the Payment Trigger Date for Part A if the Success Criteria for Part B1 have not been achieved by such date, or

	
(d)
	
(i) [***] days after the Provision Date for Part B2 (including provision of any applicable Rescue Plan), [***] days after the end of the Rescue Plan Decision Period for Part B2 where (A) the Success Criteria have not been met for Part B2 and (B) prior to the end of the Rescue Plan Decision Period, if Roche has not yet requested a Rescue Plan but has initiated negotiations of the CLA, or

	
(e)
	
the date Roche informs Synlogic that it will not initiate negotiations of the CLA or desires to terminate negotiations of the CLA, or

	
(f)
	
On the [***] anniversary of the Payment Trigger Date for Part B1, provided that if the Study Plan timelines for Part B2 have not been met because of any Material Delay, the Option Exercise Deadline will be extended by the additional days needed to enable the Party performing the relevant activities to remedy such Material Delay and to complete its activities for Part B2 for the applicable Rescue Plan or Study Plan. The duration of such timeline extension shall be agreed upon by the JRC in good faith. In the event of a dispute over whether a timeline extension is appropriate, the Party performing the activities for which the time extension is necessary, shall have the final say, which must be made in good faith. 

	
5
	
Payments by Roche

In consideration of Synlogic’s contribution to the Pilot Collaboration, Roche shall make the following payments: 

 

	
5.1
	
Upfront and Milestone Payments

 

	
5.1.1
	
Upfront 

Roche shall pay an upfront of one million US dollars (US$ 1,000,000), due [***] days from the Effective Date and receipt of an invoice from Synlogic.

 

	
5.1.2
	
Part A Milestone Payment

Roche shall make a milestone payment of [***] for Part A of the Study Plan, due [***] days after the Part A Payment Trigger Date and receipt of an invoice from Synlogic.

 

	
5.1.3
	
Part B1 Milestone Payment

Roche shall make a milestone payment of [***] for Part B1 of the Study Plan, due [***] days after the Part B1 Payment Trigger Date and receipt of an invoice from Synlogic.

	
5.1.4
	
Part B2 Milestone Payment

Roche shall make a milestone payment of [***] for Part B2 of the Study Plan, due [***] days after the Part B2 Payment Trigger Date and receipt of an invoice, unless there is a dispute as to 

 

 

whether the Success Criteria have been met which is resolved in Synlogic’s favour, in which case the payment will be deferred until [***] days after resolution of the dispute and receipt of an invoice.

	
5.1.5
	
General

Each payment under this Section 5.1 will be non-refundable and non-creditable.

	
5.2
	
Research Funding

 

	
5.2.1
	
Cost Sharing Responsibilities.

[***]. For any Rescue Plan, Roche will fund [***] percent ([***]%) and Synlogic will fund the remaining [***] percent ([***]%) of all Rescue Plan Costs under the budget related to the activities described under such Rescue Plan (the “Rescue Plan Budget”); provided that such Rescue Plan Costs are incurred pursuant to the Rescue Plan as approved by the JRC. Synlogic shall invoice Roche on a calendar quarterly basis for all Rescue Plan Costs payable to Synlogic by Roche pursuant to the Rescue Plan Budget. Roche shall pay each such invoice within [***] days of receipt thereof.

 

	
5.2.2
	
Excess Rescue Plan Costs.

Each Party will use Commercially Reasonable Efforts to ensure that the Rescue Plan Costs for a given Calendar Year do not exceed [***] ([***]%) of the agreed Rescue Plan Budget with respect to that year. If either Party’s Rescue Plan Costs exceed [***] ([***]%) of the agreed Rescue Plan Budget for the activities for which such Party is responsible under the Rescue Plan, then such Party shall be solely responsible for any such excess Rescue Plan Costs.  

 

	
5.3
	
Invoices 

All invoices shall be issued to the following address (or other address as Roche may later provide):

F. Hoffmann-La Roche Ltd

Accounts Payable

Grenzacherstrasse 124

CH-4070 Basel

Switzerland

Each invoice shall contain:

	
 
	
●
	
Synlogic’s name, address, VAT number;

	
 
	
●
	
billing details: invoice date, reference to the contract, applicable payment term and a description of the activities for which payment is sought, in reasonable detail;

	
 
	
●
	
the invoice amount and currency;

	
 
	
●
	
Purchase Order number if provided by Roche;

	
 
	
●
	
bank account information to which payment shall be made; and

	
 
	
●
	
the name of Roche’s contract manager.

 

Failure to provide invoices as directed may result in payment delays.

 

All payments according to this Article 5 made by Roche to Synlogic are net of all present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with respect thereto. According to this, all taxes, fees, duties etc. due by Synlogic shall be paid solely by Synlogic.

The payments to be made under this Agreement shall not include value added tax (VAT), if any is due and payable thereon.

 

 

 

 

If any Applicable Law requires the withholding of taxes of any type, levies or other charges with respect to any amounts payable under this Agreement to Synlogic, then Roche shall promptly pay such tax, levy or charge for and on behalf of Synlogic to the proper governmental authority, and shall promptly furnish Synlogic with receipt of payment. Roche shall be entitled to deduct any such tax, levy or charge actually paid from royalty or other payment due to Synlogic or be promptly reimbursed by Synlogic if no further payments are due to Synlogic. Each Party agrees to reasonably assist the other Party in claiming exemption from such deductions or withholdings under double taxation or similar agreement or treaty from time to time in force and in minimizing the amount required to be so withheld or deducted.

 

	
5.4
	
Late Payments

Any payment under this Agreement that is not paid on the thirtieth business day after the date such payment is due shall bear interest, to the extent permitted by Applicable Law, at [***] percentage points above the average one-month Euro Interbank Offered Rate (EURIBOR) (if EURIBOR ceases to exist, then other such short term inter-bank interest rate as deemed suitable by the Parties), as reported by Reuters from time to time, calculated on the number of days such payment is overdue.

 

	
5.5
	
Auditing

 

	
5.5.1
	
Auditing

Each Party shall keep, and shall require its Affiliates and subcontractors to keep, full, true and accurate books of account containing all particulars that may be necessary for the purpose of calculating all Rescue Plan Costs under this Agreement. Such books of accounts shall be kept at their principal place of business. Each Party (the “Auditing Party”), at its sole cost and expense, shall have the right to engage an internationally recognized independent public accountant reasonably acceptable to the other Party (the “Audited Party”) to perform, on behalf of the auditing Party, an audit of such books and records of such member that are deemed necessary by the independent public accountant to report on the Rescue Plan Costs incurred for the period or periods requested by the auditing Party and the correctness of any financial report or payments made under this Agreement.

 

Upon timely request and at least [***] working days' prior written notice from the auditing Party, such audit shall be conducted for those countries for which the auditing Party has specifically requested, during regular business hours in such a manner as to not unnecessarily interfere with the audited Party’s normal business activities. Such audit shall be limited to results in the [***] Calendar Years prior to audit notification, and if the auditing Party requests an audit for a given Calendar Year, no additional audits may be conducted for such Calendar Year. If the auditing Party does not request an audit of a given country in a given Calendar Year on or before the [***] anniversary of the end of such Calendar Year, then the auditing Party will be deemed to have accepted the royalty payments and reports for such country in such Calendar Year.

 

Such audit shall not be performed more frequently [***] Calendar Year nor more frequently than once with respect to records covering any specific period of time.

 

All information, data documents and abstracts herein referred to shall be used only for the purpose of verifying Rescue Plan Costs, shall be treated as the audited Party’s Confidential Information subject to the obligations of this Agreement and need neither be retained more than [***] after completion of an audit hereof, if an audit has been requested; nor more than [***] from the end of the Calendar Year to which each shall pertain; nor more than [***] after the date of termination of this Agreement.

 

 

 

	
5.5.2
	
Audit Reports

The auditors shall only state factual findings in the audit reports and shall not interpret this Agreement. The auditors shall share all draft audit findings with the audited Party before sharing such findings with the auditing Party and before the final audit report is issued. The final audit report shall be shared with the audited Party at the same time it is shared with the auditing Party.

 

	
5.5.3
	
Over- or Under-Payment

If the audit reveals an overpayment, the auditing Party shall reimburse the audited Party for the amount of the overpayment within [***] days. If the audit reveals an underpayment, the audited Party shall reimburse the auditing Party for the amount of the underpayment within [***] days. The audited Party shall pay for the audit costs if the underpayment of the audited Party exceeds [***] percent ([***]%) of the aggregate amount of Rescue Plan Costs owed for the period of the audit. 

 

	
6
	
Confidential Information 

 

	
6.1
	
Obligation Not to Disclose Confidential Information 

During the term of this Agreement and for a period of [***] years thereafter, the Receiving Party agrees to (i) treat such Confidential Information as confidential with the same standard of care it would its own proprietary information of a like nature, but no less than a reasonable standard of care; (ii) take commercially reasonable precautions to prevent the disclosure of such Confidential Information to any Third Party, and (iii) not use such Confidential Information other than for the purpose of fulfilling its obligations or exercising its rights under this Agreement, without the prior written consent of the Disclosing Party.

 

Each Receiving Party shall only disclose the Disclosing Party’s Confidential Information to those of its and its Affiliates’ employees, agents, representatives, advisors, Third Party contract research organizations, and potential and actual bona fide investors (collectively, “Representatives”) who (i) with respect to Disclosing Party’s employees and Third Party contract research organizations, have need to know the Confidential Information for the performance of the Study Plan, (ii) are apprised of the confidential nature of the Confidential Information and (iii) are bound to written confidentiality and nondisclosure obligations (or in the case of professional advisors, ethical duties) which are no less restrictive than the terms of this Agreement  (but which may be of a shorter duration, if customary). Each Party shall be responsible for any breach of any of the terms of this Agreement by any of its Representatives.

 

	
6.2
	
Permitted Disclosure

In the event that Confidential Information of a Disclosing Party is required to be disclosed by a Receiving Party pursuant to law or regulation, by subpoena, judicial or administrative order, the party required to make disclosure shall give timely prior notice (in no event less than [***] days) to the other party to allow that party to assert any exclusions or exemptions that may be available to it under such law or regulation and shall provide reasonable cooperation and assistance to such party in seeking to obtain protection of such Confidential Information. If either Party reasonably concludes that a copy of this Agreement or any disclosure regarding this Agreement must be filed with the United States Securities and Exchange Commission or similar regulatory agency in a country other than the United States, then such Party (the “Filing Party”) will provide the other Party (the ”Non-Filing Party”) with a draft of such disclosure at least [***] prior to its intended publication for the Non-Filing Party’s review if such disclosure is being made in connection with any regularly filed report, including any quarterly (10-Q) or annual (10-K) report, or at least [***] business days prior to its intended publication for all other disclosures. During such period, the Non-Filing Party shall (i) approve the draft disclosure and permit the Filing Party to 

 

 

issue it, or (ii) contact the Filing Party to discuss modification to the draft disclosure. If the Non-Filing Party asks for modification, then the Filing Party shall make such modification unless the Non-Filing Party is advised by its outside legal counsel in good faith that such disclosure must be made without such modification to comply with applicable law.  

 

	
6.3
	
Sharing Date

Synlogic may not share the results of the Pilot Collaboration with Third Parties prior to the Sharing Date. After the Sharing Date, Synlogic may share the results of the Pilot Collaboration with Third Parties under obligations of confidentiality, however such results may not mention Roche or Roche Affiliates. “Sharing Date” means the later of (i) expiration or termination of this Agreement, (ii) the Re-Negotiation Period, if applicable, and (iii) [***] days after the Option Exercise Deadline pursuant to clause (e) of Article 4, provided, however, that in either of (i) or (ii), if the Parties initiate negotiations for the CLA prior to the end of the Sharing Date and eventually successfully enter into the CLA, then the terms of the CLA shall govern when Synlogic may share such results, which point in time shall be no earlier than the end of the [***] (unless mutually agreed by the Parties under the CLA).

 

	
6.4
	
Publication

With respect to any paper or presentation proposed for disclosure (a) by Roche which includes Confidential Information of Synlogic, or (b) during this Agreement term, by either Party which utilizes information, data, and/or results generated under the Pilot Collaboration or (c) Synlogic, which includes Confidential Information of Roche (such publishing Party in each of clauses (a)-(c), the “Publishing Party”), the other Party (the “Non-Publishing Party”) shall have the right to review any such proposed paper or presentation. The Publishing Party shall submit to the Non-Publishing Party the proposed publication or presentation (including posters, slides, abstracts, manuscripts, marketing materials and written descriptions of oral presentations) at least [***] calendar days prior to the date of submission for publication or the date of presentation, whichever is earlier, of any of such submitted materials. The Non-Publishing Party shall review such submitted materials and respond to the Publishing Party as soon as reasonably possible, but in any case within [***] calendar days ([***] calendar days for abstracts) of receipt thereof. At the option of the Non-Publishing Party, the Publishing Party shall (A) delete from such proposed publication or presentation any Confidential Information of the Non-Publishing Party, and/or (B) delay the date of such submission for publication or the date of such presentation for a period of time sufficiently long (but in no event longer than an additional [***] calendar days) to permit the Non-Publishing Party to prepare and file a patent application for any patentable subject matter in accordance with Section 9.2. Once a publication has been approved by the Non-Publishing Party, the Publishing Party may make subsequent public disclosure of the contents of such publication without the further approval of the Non-Publishing Party; provided, such content is not presented with any new data or information or conclusions and/or in a form or manner that materially alters the understanding of the subject matter therein. Notwithstanding the foregoing, in the case of proposed publication or presentation by a Party during this Agreement term under clause (b) above, neither Party shall submit such publication or make such presentation without the other Party’s prior written consent.

 

	
6.5
	
Return or Destruction of Confidential Information.

Upon the written request of the Disclosing Party, the Receiving Party shall return or destroy all copies of the Confidential Information, provided however, that the Receiving Party may retain one copy of such information in its files for archival purposes. Any electronic back-up tapes or other electronic back-up files that have been created solely by their automatic or routine archiving and back-up procedures shall not be subject to this Section. For clarity, Roche may retain all results and data arising from the performance of the Study Plan.

 

 

 

	
7
	
Exclusivity; Change of Control 

 

	
7.1
	
Exclusivity Covenants 

During the term of this Agreement, Synlogic will not [***], in each case [***] other than as requested by Synlogic and agreed by Roche in its sole discretion. For clarity, [***]. 

 

	
7.2
	
Change of Control

 

If there is a Change of Control, then the Party experiencing such Change of Control (“Acquired Party”) shall provide written notice to the other Party (“Non-Acquired Party”) at least [***].

 

Following consummation of the Change of Control, the Non-Acquired Party and the Acquirer shall adopt in writing reasonable procedures, including the separation of personnel, to prevent the disclosure of the Non-Acquired Party’s Confidential Information beyond the Acquired Party’s personnel who need to know the Confidential Information solely for the purpose of fulfilling the Acquired Party’s obligations under this Agreement. 

 

Notwithstanding anything herein to the contrary, after any Change of Control of a Party, no Know-How, Patent Rights or proprietary materials of any Affiliate of such Party that becomes an Affiliate after such Change of Control of such Party shall become (i) in the case of Synlogic, “licensed to Roche under Section 8.1 or (ii) in the case of Roche, licensed to Synlogic under Section 8.1, in each case (i)-(ii), unless such Know-How, Patent Rights or proprietary materials are thereafter intentionally used by such Party in such Party’s performance of its activities under this Agreement.

 

	
7.2.1
	
Synlogic Change of Control 

Notwithstanding Section 7.1, if a Change of Control occurs with respect to Synlogic or its parent Affiliate with an Acquirer, and the Acquirer (or any of such Acquirer’s successors or assigns, other than Synlogic and its Affiliates as of the Change of Control) as of the Change of Control, or later, has a program or product (or rights thereto) that would otherwise violate Section 7.1 (each, a “Synlogic COC Program”), then (a) Section 7.1 will not apply with respect to such Synlogic COC Program, and (b) such Third Party, or any of such Third Party’s Affiliates or any successors or assigns of such Third Party or such Third Party’s Affiliates, as applicable, will be permitted to pursue, and continue such Synlogic COC Program after such Change of Control and such pursuit and continuation will not constitute a violation of Section 7.1; provided that (i) none of the Collaboration Technology and Patent Rights and Know-How licensed to Synlogic by Roche hereunder will be used in the Synlogic COC Program and (ii) the research activities required under this Agreement will be conducted separately from any research activities directed to such Synlogic COC Program, including the non-use of Roche’s Confidential Information, maintenance of separate lab notebooks and records and separate personnel working on each of the activities under this Agreement and the activities covered under such Synlogic COC Program.

 

Upon [***] days’ prior written notice from Roche, Roche, at its sole cost and expense, shall have the right to [***].

 

	
7.2.2
	
Synlogic Acquisition 

In addition, notwithstanding Section 7.1, if (a) Synlogic or its Affiliate acquires a Third Party (by merger, sale, consolidation, reorganization, or otherwise) so that such Third Party becomes an Affiliate over which Synlogic or its Affiliate has control, or (b) Synlogic or its Affiliate acquires all or substantially all of the assets of a Third Party (including any subsidiaries or divisions thereof) (each of (a) and (b), a “Synlogic Acquisition”), and, in each case, the Third Party (or any of such 

 

 

Third Party’s Affiliates or any successors or assigns of such Third Party or such Third Party’s Affiliates, other than Synlogic and its Affiliates as of the Synlogic Acquisition) already has, or the acquired assets contain, as applicable, a program or product that existed prior to the Synlogic Acquisition that would otherwise violate any of Section 7.1 (a “Synlogic Acquisition Program”), then Synlogic or such Affiliate will elect whether to  (i) divest its rights to such Synlogic Acquisition Program, or (ii) cease the pre-clinical and clinical development and commercialization of such Synlogic Acquisition Program, and will provide Roche written notice of the existence of such Synlogic Acquisition Program and such decision within [***] days after the closing of such Synlogic Acquisition. If Synlogic provides notice as described in clause (i) of the preceding sentence, then Synlogic, and its Affiliates if applicable, will divest such Synlogic Acquisition Program within [***] years after the closing of the applicable Synlogic Acquisition, and if Synlogic provides notice that it will terminate such Synlogic Acquisition Program as described in clause (ii) of the preceding sentence, then Synlogic, and its Affiliates if applicable, will cease the clinical development and commercialization of such Synlogic Acquisition Program as soon as reasonably practicable and in any event within [***] days of the closing of the applicable Synlogic Acquisition, giving due consideration to ethical concerns and requirements under Applicable Law and any agreements with Third Parties.

 

	
8
	
Licenses; Subcontracting

 

	
8.1
	
License Grants

 

	
8.1.1
	
Research License

During the term of this Agreement, each Party hereby grants to the other Party a non-exclusive, non-transferable, non-sublicensable (except in accordance with Section 8.2), royalty-free right and license under such Party’s respective Patent Rights and Know-How Controlled by such Party as of the Effective Date or during the term of this Agreement that are necessary or reasonably useful to research and pre-clinically develop Product Candidates solely to enable the other Party to conduct the activities assigned to the other Party in the Study Plan or any Rescue Plan.

 

	
8.1.2
	
Collaboration IP

Synlogic hereby grants to Roche a non-exclusive, perpetual, irrevocable, sublicensable right and license, for any and all purposes whatsoever, under the Collaboration Patent Rights claiming inventions made under the Study Plan or the Rescue Plan where such Collaboration Patent Rights (a) do not specifically relate to the Synlogic Platform Technology or to any Product Candidates or Products, or their use or manufacture, and (b) where at least one inventor is an employee or agent of Roche or Roche’s Affiliates. Such non-exclusive grant to Roche shall be fully paid-up (subject to any applicable payment obligations under this Agreement and the CLA, if the Parties enter into the CLA). 

 

	
8.2
	
Sublicensing

Each Party shall have the right to grant sublicenses under its rights granted under Section 8.1.1 to its Affiliates and to subcontractors permitted in accordance with Section 8.3, without prior approval of the other Party. In addition, Roche shall have the right to grant sublicenses under the license granted pursuant to Section 8.1.2 to Third Parties without the prior consent of Synlogic. Each such sublicense pursuant to this Section 8.2 shall be consistent with all applicable terms and conditions of this Agreement, and each Party shall remain responsible for its rights and obligations hereunder, including the payment of all amounts due hereunder. 

 

	
8.3
	
Subcontracting  

 

 

		

The Parties will be entitled to utilize the services of Third Parties to perform their respective activities under the Pilot Collaboration; provided, that (a) each Party will require that such Third Party operates in a manner consistent with the terms of this Agreement, and (b) each Party will remain at all times fully liable for its respective responsibilities contracted to such Third Party. Each Party will require that any such Third Party agreement entered into pursuant to this Section 8.3 (a) include confidentiality and non-use provisions that are no less stringent than those set forth in Section 6 (but of duration customary in confidentiality agreements entered into for a similar purpose); and (b) obtain ownership of, or a fully sublicensable license (or an exclusive option to obtain such license) under and to, any Know-How and Patent Rights that are developed by such Third Party in the performance of such agreement. For clarity, the foregoing requirement to obtain ownership of, or a fully sublicensable license (or an exclusive option to obtain such license) will not apply to any background or foundational Know-How or Patent Rights owned or in-licensed by a Third Party or its Affiliates (including any improvements thereto). The Party utilizing the services of a Third Party service provider will be solely responsible for direction of and communications with such Third Party.

 

	
9
	
Intellectual Property and Publications

 

	
9.1
	
IP Ownership

 

	
9.1.1
	
Pre-Existing IP

Each Party shall remain the owner of all Patent Rights, Know-How, inventions, data and other intellectual property rights (i) owned or Controlled by such Party or its Affiliates as of the Effective Date or (ii) that such Party generates independently of this Agreement.

 

	
9.1.2
	
Collaboration IP

Synlogic shall own all Know-How generated solely by or on behalf of either Party or jointly by or on behalf of both Parties under the Study Plan and any Rescue Plan (the “Collaboration Know-How”) regardless of inventorship, and any Patent Rights that cover or claim such Know-How (the “Collaboration Patent Rights”, and, together with the Collaboration Know-How, the “Collaboration Technology”) subject to Section 9.1.1 above. Inventorship will be determined under US patent law as if such Know-How were made in the United States. Roche and its Affiliates will, and hereby does, assign to Synlogic or one or more of its designated Affiliates, its and its Affiliates’ right, title and interest in, to and under the Collaboration Technology, as may be necessary to effectuate the allocation of ownership of Know-How set forth in this Section 9.1.2. Roche agrees that it will promptly disclose all Collaboration Technology to Synlogic as it arises and shall take all actions and provide Synlogic with all reasonably requested assistance to effect such assignment and will execute any and all documents necessary to perfect such assignment.

 

	
9.2
	
Patent Prosecution

During the term of this Agreement Synlogic shall be responsible (at its own expense) for filing and prosecution of patent applications claiming Collaboration Know-How. During the term of this Agreement. Synlogic will consult with Roche on the filing and prosecution of Collaboration Patent Rights that might trigger payments from Roche to Synlogic under the definitive CLA and will furnish Roche, via electronic mail or such other method as mutually agreed by the Parties, copies of proposed filings and documents received from outside counsel in the course of prosecuting such Patent Rights, or copies of documents filed with the relevant patent offices with respect to such Patent Rights. Synlogic will consider in good faith any timely comments from Roche thereon.  

 

In the event that, other than in the customary process of patent prosecution, Synlogic intends to abandon any Collaboration Patent Rights that claim any Product Candidates or the use or 

 

 

manufacture thereof and could potentially be licensed to Roche under the CLA, Synlogic shall notify Roche at least [***] days before any such Patent Right would become abandoned and will offer to assign such Collaboration Patent Rights to Roche.

 

	
9.3
	
Enforcement and Defense

As between the Parties, [***].

 

	
10
	
Representations and Warranties; Covenants

 

	
10.1
	
Synlogic’s Representations and Warranties; Covenants

Synlogic hereby represents, warrants and covenants the following to Roche:

	
(a)
	
Synlogic has the full right, power and authority, and has obtained all approvals, licenses, permits or consents necessary, to enter into this Agreement, to perform all of its obligations hereunder and to grant the licenses granted hereunder.

	
(b)
	
Synlogic has not as of the Effective Date entered into, and shall not following the Effective Date enter into, any agreement that conflicts with this Agreement or Synlogic’s obligations hereunder.

	
(c)
	
Synlogic has not prior to the Effective Date agreed to grant in the future, and shall not following the Effective Date grant, any license, sublicense or other right to exploit any intellectual property rights that conflicts with the licenses granted to Roche under this Agreement.

	
(d)
	
All of Synlogic’s employees, officers and consultants have executed agreements requiring assignment to Synlogic of all Know-How made by such individuals during the course of and as a result of their association with Synlogic. 

	
(e)
	
Synlogic represents and warrants that neither Synlogic nor Synlogic’s employees have ever been debarred under 21 U.S.C. §335a, disqualified under 21 C.F.R. §312.70 or §812.119, sanctioned by a Federal Health Care Program (as defined in 42 U.S.C §1320 a-7b(f)), including without limitation the federal Medicare or a state Medicaid program, or debarred, suspended, excluded or otherwise declared ineligible from any other similar Federal or state agency or program. In the event Synlogic or an employee of Synlogic receives notice of debarment, suspension, sanction, exclusion, ineligibility or disqualification under the above-referenced statutes, Synlogic shall immediately notify Roche in writing and Roche shall have the right, but not the obligation, to terminate this Agreement for breach.

	
(f)
	
Synlogic and its Affiliates and subcontractors will conduct the research under the Study Plan and each Rescue Plan in a good scientific manner and in accordance with all Applicable Laws.

	
10.2
	
Roche Representations and Warranties; Covenants  

Roche hereby represents, warrants and covenants the following to Synlogic:

	
(a)
	
Roche has the full right, power and authority, and has obtained all approvals, licenses, permits or consents necessary, to enter into this Agreement and to perform all of its obligations hereunder and to grant the licenses granted hereunder.

 

 

	
(b)
	
Roche has not as of the Effective Date entered into, and shall not following the Effective Date enter into, any agreement that conflicts with this Agreement or Roche’s obligations hereunder.

	
(c)
	
Roche has not as of the Effective Date agreed to grant in the future, and shall not following the Effective Date grant, any license, sublicense or other right to exploit any intellectual property rights that conflicts with the licenses granted to Synlogic under this Agreement.

	
(d)
	
Roche and its Affiliates and subcontractors will conduct the research under the Study Plan and each Rescue Plan in a good scientific manner and in accordance with all Applicable Laws. 

EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT, (A) NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY OF ANY KIND WITH RESPECT TO MATERIALS OR INFORMATION SUPPLIED BY IT TO THE OTHER PARTY HEREUNDER AND (B) EACH PARTY EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT.

 

	
11
	
Indemnification

 

	
11.1
	
Indemnification by Synlogic

Synlogic hereby agrees to defend, indemnify and hold harmless, Roche, its Affiliates and their respective directors, officers, employees and agents and the successors and assigns of any of the foregoing (collectively, the “Roche Indemnitees”) from any liabilities, damages, penalties, fines, costs, or expenses  (including attorney's fees) (collectively, "Losses") arising out of or in connection with any Third Party claims, suits, actions, demands or judgments (“Third Party Claims”) arising out of (a) Synlogic's performance under this Agreement, or (b) Synlogic’s negligence or wilful misconduct; except and to the extent, in each case (a) and (b), that any such Loss is due to the negligence or wilful misconduct of any Roche Indemnitee.

 

	
11.2
	
Indemnification by Roche

Roche hereby agrees to defend, indemnify and hold harmless, Synlogic, its Affiliates and their respective directors, officers, employees and agents and the successors and assigns of any of the foregoing (collectively, the “Synlogic Indemnitees”) from any Losses arising out of or in connection with any Third Party Claims arising out of (a) Roche’s performance under this Agreement, or (b) Roche’s negligence or wilful misconduct; except and to the extent, in each case (a) and (b), that any such Loss is due to the negligence or wilful misconduct of any Synlogic Indemnitee.

 

	
11.3
	
Indemnification Procedure

In the event of a Third Party Claim against a Party entitled to indemnification under this Agreement ("Indemnified Party"), the Indemnified Party shall promptly notify the other Party ("Indemnifying Party") in writing of the claim and the Indemnifying Party shall undertake and solely manage and control, at its sole expense, the defence of the claim and its settlement. The Indemnified Party shall cooperate with the Indemnifying Party and may, at its option and expense, be represented in any such action or proceeding by counsel of its choice. The Indemnifying Party shall not be liable for any litigation costs or expenses incurred by the Indemnified Party without the Indemnifying Party’s written consent. The Indemnifying Party shall not settle any such claim unless such settlement fully and unconditionally releases the Indemnified Party from all liability relating thereto, unless the Indemnified Party otherwise agrees in writing.

 

 

 

	
11.4
	
Insurance

Subject to this Section 11.4, each Party shall obtain and maintain comprehensive general liability insurance customary in the industry for companies of similar size conducting similar business, and in any case sufficient to cover its obligations. 

 

Upon either Party’s request, each Party shall provide the other Party with its certificate of insurance evidencing the insurance coverage set forth this Section 11.4.  Each Party shall provide to the other Party at least [***] days prior written notice of any cancellation, non-renewal or material change in any of such insurance coverage.

 

In the event that either Party is an entity which, [***], the obligations set forth in this Section 11.4 above shall not apply with respect to such Party, if such Party notifies the other Party in writing that it elects to provide coverage through a commercially reasonable program of self-insurance; provided, however, that the obligations set forth in this Section 11.4 above shall resume with respect to such Party and its Affiliates, or successor-in-interest and its Affiliates, if such program of self-insurance is terminated or discontinued for any reason.

 

	
11.5
	
Limitation of Liability

NEITHER PARTY WILL BE LIABLE FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES ARISING OUT OF THIS AGREEMENT, OR THE EXERCISE OF ITS RIGHTS OR THE PERFORMANCE OF ITS OBLIGATIONS HEREUNDER, INCLUDING LOST PROFITS ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF SUCH DAMAGES, EXCEPT AS A RESULT OF (A) A PARTY’S GROSS NEGLIGENCE OR WILFUL MISCONDUCT, (B) A BREACH OF SECTION 9, (C) A BREACH OF SECTION 6.  NOTHING IN THIS SECTION 11.5 IS INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF EITHER PARTY UNDER THIS AGREEMENT.

 

	
12
	
Term and Termination

 

	
12.1
	
Term

This Agreement shall become effective as of the Effective Date. Provided that this Agreement is not earlier terminated in accordance with Section 12.2, it shall continue in force until any of the following: 

 

	
(a)
	
a Success Criteria Failure Expiration;

	
(b)
	
the date Roche exercises its Option Right and the Parties enter into the CLA; or

	
(c)
	
the day after the Option Exercise Deadline.

 

	
12.2
	
Termination

 

	
12.2.1
	
Termination for Breach

A Party (“Non-Breaching Party”) shall have the right to terminate this Agreement in the event the other Party (“Breaching Party”) is in breach of any of its material obligations under this Agreement. The Non-Breaching Party shall provide written notice to the Breaching Party, which notice shall identify the breach. The Breaching Party shall have a period of [***] days after such written notice is provided (“Peremptory Notice Period”) to cure such breach. If the Breaching Party delivers written notice to the Non-Breaching Party of the Breaching Party’s determination 

 

 

that such material breach cannot be cured within the [***] days and demonstrates that the breaching Party is working diligently to cure such breach, the Peremptory Notice Period shall be extended up to a maximum of [***] days, subject to the remainder of this Section 12.2.1. If the Breaching Party has a bona fide dispute as to whether such breach occurred or has been cured, it will so notify the Non-Breaching Party during the Peremptory Notice Period, and the expiration of the Peremptory Notice Period shall be tolled until such dispute is resolved pursuant to Section 13.11. Upon a determination of breach or failure to cure, the Breaching Party may have the remainder of the Peremptory Notice Period to cure such breach. If such breach is not cured within the Peremptory Notice Period, then absent withdrawal of the Non-Breaching Party’s request for termination, this Agreement shall terminate in its entirety or such identified countries effective as of the expiration of the Peremptory Notice Period.

 

	
12.2.2
	
Termination for Scientific Reasons

In case the JRC mutually agrees that the Pilot Collaboration is no longer scientifically viable, the Parties may mutually terminate for lack of scientific viability.

 

	
12.2.3
	
Insolvency

A Party shall have the right to terminate this Agreement upon [***] days’ written notice, if the other Party incurs an Insolvency Event; provided, however, in the case of any involuntary bankruptcy proceeding, such right to terminate shall only become effective if the Party that incurs the Insolvency Event consents to the involuntary bankruptcy or such proceeding is not dismissed within [***] days after the filing thereof.

 

	
12.2.4
	
Change of Control

Roche shall have the right to terminate this Agreement upon written notice, if such written notice of termination is issued within [***] days after Synlogic has informed Roche of such Change of Control.

 

	
12.2.5
	
Termination by Roche without Cause

Roche may terminate without cause (a) immediately upon written notice where the Success Criteria have been met for either Part A or Part B1 of the Study Plan, commencing on the applicable Provision Date and ending [***] thereafter, or (b) upon ninety (90) days’ prior written notice to Synlogic.

 

	
12.3
	
Consequences of Expiration and Termination 

Except as otherwise set forth in this Section 12.3 and in Section 12.4, all rights and obligations of the Parties hereunder will terminate as of the effective date of such termination, and all licenses granted under Section 8.1 will terminate unless expressly provided otherwise in Section 8.1.    

 

After the expiration date or effective date of termination, neither Party will have any additional payment obligations to the other Party hereunder other than payments due or accrued prior to such expiration date or effective date of termination but unpaid thereunder (including any milestone payment that is due as a result of the Success Criteria having been met prior to the expiration date or the date of termination).

 

If this Agreement is terminated or expires without Roche having exercised its Option Right, Synlogic shall, at its own expense, immediately return to Roche all of the Materials and Confidential Information supplied by Roche (including any modified remnants thereof), or destroy all such Material and Confidential Information if so requested by Roche, and Roche shall, at its own expense, immediately return to Synlogic all of the Materials and Confidential Information 

 

 

supplied by Synlogic (including any modified remnants thereof), or destroy all such Materials and Confidential Information if so requested by Synlogic.

 

	
12.4
	
Survival

Article 1 (Definitions, to the extent necessary to interpret this Agreement), Article 5 (Payments by Roche as applicable), Article 6 (Obligation Not to Disclose Confidential Information), Article 9 (Intellectual Property and Publication), Article 11 (Indemnification), Article 13 (Miscellaneous) as well as Sections 8.1 (License Grant), 12.3 (Consequences of Expiration and Termination) and 12.4 (Survival) shall survive expiration or termination of this Agreement and continue to be enforceable.

 

	
13
	
Miscellaneous

 

	
13.1
	
Force Majeure

Neither Party will be held liable to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in performing any obligation under this Agreement to the extent, and for so long as, such failure or delay is caused by or results from one or more Force Majeure Events; provided that the affected Party gives the other Party prompt written notice of any such Force Majeure Event and the cessation thereof; and provided further that the affected Party promptly undertakes and continues to use Commercially Reasonable Efforts to cure such failure or delay resulting from the Force Majeure Event as soon as practicable and to mitigate its effects, and promptly resumes performance whenever such Force Majeure Event is removed. Any deadline or time period affected by such a Force Majeure Event or a Party’s failure to perform resulting therefrom shall be extended automatically by [***]. If a Force Majeure persists for more than [***] days, the Parties will negotiate in good faith any modifications of the terms of this Agreement that may be necessary to arrive at an equitable solution, unless the Party giving such notice has set out a reasonable timeframe and plan to resolve the effects of such force majeure and executes such plan within such timeframe. 

 

	
13.2
	
Independent Contractor

No employee or representative of either Party shall have any authority to bind or obligate the other Party to this Agreement for any sum or in any manner whatsoever or to create or impose any contractual or other liability on the other Party without said Party's prior written approval. For all purposes, and notwithstanding any other provision of this Agreement to the contrary, Synlogic legal relationship to Roche under this Agreement shall be that of independent contractor, and nothing contained in this Agreement shall be deemed or construed to create a partnership, joint venture, employment, franchise, agency or fiduciary relationship between the Parties.

 

	
13.3
	
Unenforceable Provisions and Severability

If any of the provisions of this Agreement are held to be void or unenforceable, then such void or unenforceable provisions shall be replaced by valid and enforceable provisions that will achieve as far as possible the economic business intentions of the Parties. However the remainder of this Agreement will remain in full force and effect, provided that the material interests of the Parties are not affected, i.e. the Parties would presumably have concluded this Agreement without the unenforceable provisions.

 

	
13.4
	
Waiver

Failure of a party to require the other party to comply with any provision of this Agreement shall not be deemed a waiver of such provision or any other provision of this Agreement.

 

 

 

 

	
13.5
	
Headings  

The captions to the Sections hereof are not a part of this Agreement, but are merely for convenience to assist in locating and reading the several Sections hereof.

 

	
13.6
	
Assignment

Neither party may assign this Agreement or any part thereof to any Third Party without the prior written consent of the other party. Notwithstanding the foregoing, subject to Section 7.2, either Party may, without the other Party’s written consent, assign this Agreement and its rights and obligations hereunder in whole or in part to an Affiliate or to a party that acquires, by or otherwise in connection with, merger, sale of assets, or otherwise, all or substantially all of the business of the assigning Party to which the subject matter of this Agreement relates. The assigning Party will remain responsible for the performance by its assignee of any obligation hereunder so assigned. Any purported assignment in violation of this Section 13.7 will be null, void, and of no legal effect.

 

	
13.7
	
Interpretation

Except where the context expressly requires otherwise:

	
(a)
	
the use of any gender herein shall be deemed to encompass references to either or both genders, and the use of the singular shall be deemed to include the plural (and vice versa),

	
(b)
	
the words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”,

	
(c)
	
the word “will” shall be construed to have the same meaning and effect as the word “shall”,

	
(d)
	
any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein),

	
(e)
	
any reference herein to any Party or Third Party or person shall be construed to include the Party’s or Third Party’s or person’s permitted successors and assigns,

	
(f)
	
the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof,

	
(g)
	
all references herein to Articles, Sections or Appendices shall be construed to refer to Articles, Sections or Appendices of this Agreement, and references to this Agreement include all Appendices hereto,

	
(h)
	
references to any specific law, rule or regulation, or article, section or other division thereof, shall be deemed to include the then-current amendments thereto or any replacement or successor law, rule or regulation thereof, and

	
(i)
	
the term “or” shall be interpreted in the inclusive sense commonly associated with the term “and/or”.

 

 

 

	
13.8
	
Entire Understanding

This Agreement shall constitute the entire understanding between the parties with respect to the subject matter hereof and may only be modified by written agreement of both parties.

 

	
13.9
	
Amendments

No amendments of the terms and conditions of this Agreement shall be binding upon either Party hereto unless in writing and signed by both Parties.

 

	
13.10
	
Notice

All notices that are required or permitted hereunder shall be in writing and sufficient if delivered personally, sent by nationally recognized overnight courier or sent by registered or certified mail, postage prepaid, return receipt requested, addressed as follows:

 

	
if to Synlogic, to:

 
	
Synlogic, Inc. 

Attn: Chief Executive Officer

301 Binney St., Suite 402

Cambridge, MA 02142

 

	
 
	
 

	
and:
	
Attn: Legal Department

 

 

 

	
if to Roche, to:
	
F. Hoffmann-La Roche Ltd

Grenzacherstrasse 124

4070 Basel

Switzerland 

Attn:  Legal Department

 

	
and:
	
Hoffmann-La Roche Inc.

150 Clove Road

Suite 8

Little Falls, New Jersey 07424

U.S.A. 

Attn. Corporate Secretary

 

	
13.11
	
Governing Law; Arbitration

This Agreement shall be governed by and construed in accordance with the laws of New York, New York, without reference to its conflict of laws principles. 

 

All disputes arising out of or in connection with this Agreement shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce (“ICC”) by three arbitrators appointed in accordance with the said rules. The Emergency Arbitrator Provisions shall not apply.

 

Each Party shall nominate one arbitrator each of whom has at least [***] years of relevant experience in the pharmaceutical or biotechnology industry , each of whom will be impartial and independent as required by the applicable Rules of Arbitration of the ICC. Should the claimant fail to appoint an arbitrator in the request for arbitration within [***] days of being requested to do so, or if the respondent should fail to appoint an arbitrator in its answer to the request for arbitration 

 

 

within [***] days of being requested to do so, the other Party shall request the ICC Court to make such appointment.

 

The arbitrators nominated by the Parties shall, within [***] days from the appointment of the arbitrator nominated in the answer to the request for arbitration, and after consultation with the Parties, agree and appoint a third arbitrator, who will act as a chairman of the Arbitral Tribunal. Should such procedure not result in an appointment within the [***] day time limit, either Party shall be free to request the ICC Court to appoint the third arbitrator.

If any Party-appointed arbitrator or the third arbitrator resigns or ceases to be able to act, a replacement shall be appointed in accordance with the arrangements provided for in this clause.

 

Paris, France shall be the seat of the arbitration. The language of the arbitration shall be English. Documents submitted in the arbitration (the originals of which are not in English) shall be submitted together with an English translation.

 

	
13.12
	
Counterparts

This Agreement may be executed in two or more counterparts, including by facsimile, electronic Signature, or PDF signature pages, each of which will be deemed an original, but all of which together will constitute one and the same instrument.

 

	
13.13
	
Further Assurances

The Parties agree to reasonably cooperate with each other in connection with any actions required to be taken as part of their respective obligations under this Agreement, and will (a) furnish to each other such further information; (b) execute and deliver to each other such other documents; and (c) do such other acts and things (including working collaboratively to correct any clerical, typographical, or other similar errors in this Agreement), all as the other Party may reasonably request for the purpose of carrying out the intent of this Agreement.

 

 

 

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the Effective Date.

 

 

	
F. Hoffmann-La Roche Ltd
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ VIKAS KABRA
	
 
	
By:
	
 
	
/s/ HANNAH BOEHM

	
Name:
	
 
	
Vikas Kabra
	
 
	
Name:
	
 
	
Hannah Boehm

	
Title:
	
 
	
Global Head Transaction Excellence
	
 
	
Title:
	
 
	
Legal Counsel

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
16 June 2021
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Date
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Hoffmann-La Roche Inc.
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ JOHN PARISE
	
 
	
 
	
 
	
 

	
Name:
	
 
	
John Parise
	
 
	
 
	
 
	
 

	
Title:
	
 
	
Authorized Signatory
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
16 June 2021
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Date
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Synlogic Operating Company, Inc.
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ AOIFE BRENNAN
	
 
	
 
	
 
	
 

	
Name:
	
 
	
Aoife Brennan
	
 
	
 
	
 
	
 

	
Title:
	
 
	
CEO
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
16 June 2021
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Date
	
 
	
 
	
 
	
 

 

 

 

 

 

Confidential

Execution Version

 

 

 

Appendix 1

 

Study Plan

 

[***]

 

 

Confidential

Execution Version

 

 

 

 

Appendix 2 to the Pilot Collaboration and Option Agreement (“PCO Agreement”)

Synlogic, Inc. (“Synlogic”)

 – 

Hoffmann-La Roche Inc. and F. Hoffmann-La Roche Ltd (collectively “Roche”)

Term Sheet for a Collaboration and License Agreement (“CLA”)

 

 

 

[***]EX-4.1

 Exhibit 4.1 
  

 
 CONAGRA BRANDS, INC. 

and 
 U.S. BANK NATIONAL
ASSOCIATION, Trustee 
  
  

INDENTURE 
 Dated as of
August 12, 2021 
  
  

 
  

 CROSS-REFERENCE TABLE* 

 

					
	 Trust Indenture 
Act Section
	  	Indenture
Section	 
	 310(a)(1)
	  	 	7.10	 
	 (a)(2)
	  	 	7.10	 
	 (a)(3)
	  	 	N.A.	 
	 (a)(4)
	  	 	N.A.	 
	 (a)(5)
	  	 	7.10	 
	 (b)
	  	 	7.10	 
	 (c)
	  	 	N.A.	 
	 311(a)
	  	 	7.11	 
	 (b)
	  	 	7.11	 
	 (c)
	  	 	N.A.	 
	 312(a)
	  	 	2.06	 
	 (b)
	  	 	11.03	 
	 (c)
	  	 	11.03	 
	 313(a)
	  	 	7.06	 
	 (b)(2)
	  	 	7.06; 7.07	 
	 (c)
	  	 	7.06; 11.02	 
	 (d)
	  	 	7.06	 
	 314(a)
	  	 	4.03; 4.04; 11.02	 
	 (b)
	  	 	N.A.	 
	 (c)(l)
	  	 	11.04	 
	 (c)(2)
	  	 	11.04	 
	 (c)(3)
	  	 	N.A.	 
	 (d)
	  	 	N.A.	 
	 (e)
	  	 	11.05	 
	 (f)
	  	 	N.A.	 
	 315(a)
	  	 	7.01	 
	 (b)
	  	 	7.05; 11.02	 
	 (c)
	  	 	7.01	 
	 (d)
	  	 	7.01	 
	 (e)
	  	 	6.11	 
	 316(a) (last sentence)
	  	 	2.10	 
	 (a)(l)(A)
	  	 	6.05	 
	 (a)(l)(B)
	  	 	6.04	 
	 (a)(2)
	  	 	N.A.	 
	 (b)
	  	 	6.07	 
	 (c)
	  	 	2.14	 
	 317(a)(l)
	  	 	6.08	 
	 (a)(2)
	  	 	6.09	 
	 (b)
	  	 	2.05	 
	 318(a)
	  	 	11.01	 
	 (b)
	  	 	N.A.	 
	 (c)
	  	 	11.01	 

  

	N.A.	 means not applicable. 

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

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE 1    DEFINITIONS AND INCORPORATION BY
REFERENCE
	  	 	1	 
			
	 Section 1.01
	 	Definitions	  	 	1	 
	 Section 1.02
	 	Other Definitions	  	 	4	 
	 Section 1.03
	 	Incorporation by Reference of Trust Indenture Act	  	 	4	 
	 Section 1.04
	 	Rules of Construction	  	 	5	 
		
	 ARTICLE 2    THE NOTES
	  	 	5	 
			
	 Section 2.01
	 	Issuable in Series	  	 	5	 
	 Section 2.02
	 	Establishment of Terms of Series of Notes	  	 	6	 
	 Section 2.03
	 	Execution and Authentication	  	 	7	 
	 Section 2.04
	 	Registrar and Paying Agent	  	 	8	 
	 Section 2.05
	 	Paying Agent to Hold Money in Trust	  	 	8	 
	 Section 2.06
	 	Holder Lists	  	 	8	 
	 Section 2.07
	 	Transfer and Exchange	  	 	9	 
	 Section 2.08
	 	Replacement Notes	  	 	9	 
	 Section 2.09
	 	Outstanding Notes	  	 	9	 
	 Section 2.10
	 	Treasury Notes	  	 	10	 
	 Section 2.11
	 	Temporary Notes	  	 	10	 
	 Section 2.12
	 	Cancellation	  	 	10	 
	 Section 2.13
	 	Defaulted Interest	  	 	10	 
	 Section 2.14
	 	Global Notes	  	 	10	 
	 Section 2.15
	 	CUSIP Number	  	 	12	 
		
	 ARTICLE 3    REDEMPTION AND PREPAYMENT
	  	 	12	 
			
	 Section 3.01
	 	Notice to Trustee	  	 	12	 
	 Section 3.02
	 	Selection of Notes to Be Redeemed	  	 	13	 
	 Section 3.03
	 	Notice of Redemption	  	 	13	 
	 Section 3.04
	 	Effect of Notice of Redemption	  	 	13	 
	 Section 3.05
	 	Deposit of Redemption Price	  	 	14	 
	 Section 3.06
	 	Notes Redeemed in Part	  	 	14	 
		
	 ARTICLE 4    COVENANTS
	  	 	14	 
			
	 Section 4.01
	 	Payment of Principal and Interest	  	 	14	 
	 Section 4.02
	 	Maintenance of Office or Agency	  	 	14	 
	 Section 4.03
	 	Reports	  	 	15	 
	 Section 4.04
	 	Compliance Certificate	  	 	15	 
	 Section 4.05
	 	Taxes	  	 	15	 
	 Section 4.06
	 	Stay, Extension and Usury Laws	  	 	15	 
	 Section 4.07
	 	Corporate Existence	  	 	15	 
		
	 ARTICLE 5    SUCCESSORS
	  	 	16	 
			
	 Section 5.01
	 	Merger, Consolidation, or Sale of Assets	  	 	16	 
	 Section 5.02
	 	Successor Corporation Substituted	  	 	16	 
		
	 ARTICLE 6    DEFAULTS AND REMEDIES
	  	 	17	 
			
	 Section 6.01
	 	Events of Default	  	 	17	 
	 Section 6.02
	 	Acceleration	  	 	17	 
	 Section 6.03
	 	Other Remedies	  	 	18	 
	 Section 6.04
	 	Waiver of Past Defaults	  	 	18	 

  
 i 

 TABLE OF CONTENTS 

(Continued) 
  

							
	 	 	 	  	Page	 
	 Section 6.05
	 	Control by Majority	  	 	18	 
	 Section 6.06
	 	Limitation on Suits	  	 	19	 
	 Section 6.07
	 	Rights of Holders of Notes to Receive Payment	  	 	19	 
	 Section 6.08
	 	Collection Suit by Trustee	  	 	19	 
	 Section 6.09
	 	Trustee May File Proofs of Claim	  	 	19	 
	 Section 6.10
	 	Priorities	  	 	20	 
	 Section 6.11
	 	Undertaking for Costs	  	 	20	 
	 Section 6.12
	 	Restoration of Rights and Remedies	  	 	20	 
	 Section 6.13
	 	Waiver of Stay, Extension or Usury Laws	  	 	20	 
		
	 ARTICLE 7    TRUSTEE
	  	 	21	 
			
	 Section 7.01
	 	Duties of Trustee	  	 	21	 
	 Section 7.02
	 	Rights of Trustee	  	 	21	 
	 Section 7.03
	 	Individual Rights of Trustee	  	 	23	 
	 Section 7.04
	 	Trustee’s Disclaimer	  	 	23	 
	 Section 7.05
	 	Notice of Defaults	  	 	23	 
	 Section 7.06
	 	Reports by Trustee to Holders of the Notes	  	 	23	 
	 Section 7.07
	 	Compensation and Indemnity	  	 	23	 
	 Section 7.08
	 	Replacement of Trustee	  	 	24	 
	 Section 7.09
	 	Successor Trustee by Merger, etc	  	 	25	 
	 Section 7.10
	 	Eligibility; Disqualification	  	 	25	 
	 Section 7.11
	 	Preferential Collection of Claims Against Company	  	 	25	 
	 Section 7.12
	 	Trustee’s Application for Instructions from the Company	  	 	25	 
		
	 ARTICLE 8    LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	  	 	26	 
			
	 Section 8.01
	 	Option to Effect Legal Defeasance or Covenant Defeasance	  	 	26	 
	 Section 8.02
	 	Legal Defeasance and Discharge	  	 	26	 
	 Section 8.03
	 	Covenant Defeasance	  	 	26	 
	 Section 8.04
	 	Conditions to Legal or Covenant Defeasance	  	 	27	 
	 Section 8.05
	 	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	  	 	28	 
	 Section 8.06
	 	Repayment to Company	  	 	28	 
	 Section 8.07
	 	Reinstatement	  	 	28	 
		
	 ARTICLE 9    AMENDMENT, SUPPLEMENT AND WAIVER
	  	 	29	 
			
	 Section 9.01
	 	Without Consent of Holders of Notes	  	 	29	 
	 Section 9.02
	 	With Consent of Holders of Notes	  	 	29	 
	 Section 9.03
	 	Compliance with Trust Indenture Act	  	 	30	 
	 Section 9.04
	 	Revocation and Effect of Consents	  	 	30	 
	 Section 9.05
	 	Notation on or Exchange of Notes	  	 	31	 
	 Section 9.06
	 	Trustee to Sign Amendments, etc	  	 	31	 
		
	 ARTICLE 10    SATISFACTION AND DISCHARGE
	  	 	31	 
			
	 Section 10.01
	 	Satisfaction and Discharge	  	 	31	 
	 Section 10.02
	 	Application of Trust Money	  	 	32	 
		
	 ARTICLE 11    MISCELLANEOUS
	  	 	32	 
			
	 Section 11.01
	 	Trust Indenture Act Controls	  	 	32	 
	 Section 11.02
	 	Notices	  	 	32	 
	 Section 11.03
	 	Communication by Holders of Notes with Other Holders of Notes	  	 	34	 
	 Section 11.04
	 	Certificate and Opinion as to Conditions Precedent	  	 	34	 

  
 ii 

 TABLE OF CONTENTS 

(Continued) 
  

							
	 	 	 	  	Page	 
	 Section 11.05
	 	Statements Required in Certificate or Opinion	  	 	34	 
	 Section 11.06
	 	Rules by Trustee and Agents	  	 	35	 
	 Section 11.07
	 	Calculation of Foreign Currency Amounts	  	 	35	 
	 Section 11.08
	 	No Personal Liability of Directors, Officers, Employees and Shareholders	  	 	35	 
	 Section 11.09
	 	Governing Law; Submission to Jurisdiction	  	 	35	 
	 Section 11.10
	 	No Adverse Interpretation of Other Agreements	  	 	35	 
	 Section 11.11
	 	Successors	  	 	35	 
	 Section 11.12
	 	Severability	  	 	35	 
	 Section 11.13
	 	Counterpart Originals	  	 	36	 
	 Section 11.14
	 	Table of Contents, Headings, etc	  	 	36	 
	 Section 11.15
	 	Waiver of Jury Trial	  	 	36	 
	 Section 11.16
	 	Patriot Act Compliance	  	 	36	 

  
 iii 

 INDENTURE, dated as of August 12, 2021, by and between Conagra Brands, Inc., a Delaware
corporation (the “Company”), and U.S. Bank National Association, as trustee (the “Trustee”). 
 The
Company and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the Notes issued under this Indenture. 

ARTICLE 1 
 DEFINITIONS
AND INCORPORATION 
 BY REFERENCE 

Section 1.01 Definitions. 

“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. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under
common control with” have correlative meanings. 
 “Agent” means any Registrar,
co-registrar, Custodian, Paying Agent or additional paying agent. 
 “Applicable
Procedures” means, with respect to any payment, tender, redemption, transfer, exchange, or conversion of or for beneficial interests in any Global Note, the rules and procedures of the Depositary that apply to such payment, tender,
redemption, transfer, exchange, or conversion. 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or
state law for the relief of debtors. 
 “Board of Directors” means: 

(1) with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on
behalf of such board; 
 (2) with respect to a partnership, the Board of Directors of the general partner of the partnership;

 (3) with respect to a limited liability company, the managing member or members or any controlling committee of managing
members thereof; and 
 (4) with respect to any other Person, the board or committee of such Person serving a similar
function. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the
Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee. 

“Business Day” means any day other than a Legal Holiday. If a payment date falls on a day that is not a Business Day, the
related payment shall be made on the next succeeding Business Day as if made on the date the payment is due, and no interest shall accrue on such payment for the intervening period. 

“Capital Stock” means: 

(1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 

 (3) in the case of a partnership or limited liability company, partnership
interests (whether general or limited) or membership interests; and 
 (4) any other interest or participation that confers
on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Company” means Conagra Brands, Inc., and, subject to Article 5, any and all successors thereto. 

“Company Order” means a written order signed in the name of the Company by an Officer of the Company. 

“Corporate Trust Office of the Trustee” means the office of the Trustee at the address of the Trustee specified in
Section 11.02 or such other address as to which the Trustee may give notice to the Holders and the Company. 

“Custodian” means the Trustee, as custodian for the Depositary with respect to any Global Notes, or any successor entity
thereto. 
 “Default” means any event that is, or with the passage of time or the giving of notice or both would be, an
Event of Default. 
 “Depositary” means, with respect to the Notes of any Series issuable or issued in whole or in part in
the form of one or more Global Notes, the Person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such Person,
“Depositary” as used with respect to the Notes of any Series shall mean the Depositary with respect to the Notes of such Series. 

“Discount Note” means any Note that provides for an amount less than the stated principal amount thereof to be due and
payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02. 
 “Dollars” and
“$” means the currency of The United States of America. 
 “Exchange Act” means the Securities Exchange
Act of 1934, as amended. 
 “Foreign Currency” means any currency or currency unit issued by a government other than the
government of The United States of America. 
 “GAAP” means generally accepted accounting principles set forth in the
opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity
as have been approved by a significant segment of the accounting profession, which are in effect from time to time. 
 “Global
Note” or “Global Notes” means a Note or Notes, as the case may be, in the form established pursuant to Section 2.02 evidencing all or part of a Series of Notes, issued to the Depositary for such Series or its nominee,
and registered in the name of such Depositary or nominee. 
 “Government Securities” means direct obligations of, or
obligations guaranteed by, The United States of America, and the payment for which the United States pledges its full faith and credit. 

“Holder” means a Person in whose name a Note is registered. 

“Indenture” means this Indenture, as amended, supplemented or restated from time to time and shall include the form and terms
of particular Series of Notes established as contemplated hereunder. 

  
 2 

 “Legal Holiday” means a Saturday, a Sunday or a day on which banking
institutions in the City of New York, or the city where the Corporate Trust Office of the Trustee is located at such time are required or authorized by law, regulation or executive order to close or be closed. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in
respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a
security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction; provided that in no event shall an operating lease be deemed to constitute a
Lien. 
 “Notes” means notes or other debt instruments of the Company of any Series issued under this Indenture. 

“Officer” means, with respect to any Person, the Chief Executive Officer, the President, the Chief Operating Officer, the
Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, the Assistant Secretary or any Vice-President of such Person. 

“Officer’s Certificate” means a certificate signed by an Officer of the Company that meets the requirements of
Section 11.05 hereof. 
 “Opinion of Counsel” means a written opinion from legal counsel, who may be an employee of or
counsel to the Company or any Subsidiary of the Company, or other counsel of recognized standing qualified under the laws of the relevant jurisdiction, that meets the requirements of Section 11.05 hereof. 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company or government or other entity. 
 “Responsible Officer,” when used
with respect to the Trustee, means any officer assigned to the corporate trust department of the Trustee (or any successor division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility
for the administration of this Indenture, and for the purposes of Section 7.01(d)(2) and the second sentence of Section 7.05 shall also include any other officer of the Trustee to whom any corporate trust matter is referred because
of such officer’s knowledge of and familiarity with the particular subject. 
 “SEC” means the Securities and Exchange
Commission. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Series” or “Series of Notes” means each series of debentures, notes or other debt instruments of the
Company created pursuant to Sections 2.01 and 2.02 hereof. 
 “Stated Maturity” means, with respect to any installment
indebtedness, the date specified as the fixed date on which the final payment of principal was scheduled to be paid in the documentation governing such indebtedness, and will not include any contingent obligations to repay, redeem or repurchase any
such principal prior to the date originally scheduled for the payment thereof. 
 “Subsidiary” means, with respect to any
specified Person: 
 (1) any corporation, association or other business entity of which more than 50% of the total voting
power of shares of Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or shareholders’ agreement that effectively transfers voting power) to vote in the election of
directors, managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof);
and 

  
 3 

 (2) any partnership (a) the sole general partner or the managing
general partner of which is such Person or a Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 

“TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb). 

“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 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 Notes of any Series shall mean the Trustee with respect to Notes of that Series. 

Section 1.02 Other Definitions. 
  

					
	 Term
	  	Defined
in Section	 
	 “Covenant Defeasance”
	  	 	8.03	 
	 “Electronic Means”
	  	 	11.02	 
	 “Event of Default”
	  	 	6.01	 
	 “Legal Defeasance”
	  	 	8.02	 
	 “Notice”
	  	 	11.02	 
	 “Paying Agent”
	  	 	2.04	 
	 “Registrar”
	  	 	2.04	 

 Section 1.03 Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. 

The following TIA terms used in this Indenture have the following meanings: 

“indenture securities” means the Notes; 

“indenture security Holder” means a Holder of a Note; 

“indenture to be qualified” means this Indenture; 

“indenture trustee” or “institutional trustee” means the Trustee; and 

“obligor” on the indenture securities means the Company, and any other obligor upon the Notes. 

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

  
 4 

 Section 1.04 Rules of Construction. 

Unless the context otherwise requires: 

(1) a term has the meaning assigned to it; 

(2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(3) “or” is not exclusive; 

(4) words in the singular include the plural, and in the plural include the singular; 

(5) “will” shall be interpreted to express a command; 

(6) provisions apply to successive events and transactions; 

(7) any reference to an “Article,” a “Section” or an “Exhibit” refers to an Article, a Section or
an Exhibit, as the case may be, of this Indenture; 
 (8) 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; 

(9) words importing any gender include the other genders; 

(10) references to “writing” include printing, typing, lithography and other means of reproducing words in a visible
form; 
 (11) the words “including,” “includes” and “include” shall be deemed to be followed by
the words “without limitation”; and 
 (12) unless otherwise provided, references to agreements and other
instruments shall be deemed to include all amendments and other modifications to such agreements and instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Indenture. 

ARTICLE 2 
 THE NOTES

 Section 2.01 Issuable in Series. 

The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited. The Notes may be issued in
one or more Series. All Notes of a Series shall be identical except as may be set forth in a Board Resolution, a supplemental indenture or an Officer’s Certificate detailing the adoption of the terms thereof pursuant to the authority granted
under a Board Resolution. In the case of Notes of a Series to be issued from time to time, the Board Resolution, Officer’s Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a
Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined. Notes may differ between Series in respect of any matters,
provided that all Series of Notes shall be equally and ratably entitled to the benefits of this Indenture. 

  
 5 

 Section 2.02 Establishment of Terms of Series of Notes.

 At or prior to the issuance of any Notes within a Series, the following shall be established (as to the Series generally, in the case
of Subsection 2.02(a) and either as to such Notes within the Series or as to the Series generally in the case of Subsections 2.02(b) through 2.02(r)) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board
Resolution, supplemental indenture or an Officer’s Certificate pursuant to authority granted under a Board Resolution: 
 (a) the title
of the Series (which shall distinguish the Notes of that particular Series from the Notes of any other Series); 
 (b) the price or prices
(expressed as a percentage of the principal amount thereof) at which the Notes of the Series will be issued; 
 (c) any limit upon the
aggregate principal amount of the Notes of the Series which may be authenticated and delivered under this Indenture (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes of the
Series pursuant to Section 2.07, 2.08, 2.11, 3.06 or 9.05); 
 (d) the date or dates on which the principal of the Notes of the Series
is payable; 
 (e) the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or
rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Notes of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date
or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date, and the basis of computation of interest if other than on the basis of a 360-day year consisting of twelve 30-day months; 
 (f) the place
or places where the principal of, premium and interest, if any, on the Notes of the Series shall be payable, where the Notes of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the
Company in respect of the Notes of such Series and this Indenture may be served, and the method of such payment, if by wire transfer, mail or other means; 

(g) if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the Notes of the
Series may be redeemed, in whole or in part, at the option of the Company; 
 (h) the obligation, if any, of the Company to redeem or
purchase the Notes of the Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Notes of the
Series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 (i) the dates, if any, on which and the price or
prices at which the Notes of the Series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations; 

(j) the denominations in which the Notes of the Series shall be issuable, if other than minimum denominations of $2,000 and integral multiples
of $1,000 in excess thereof; 
 (k) the forms of the Notes of the Series in fully registered form (and whether the Notes will be issuable as
Global Notes); 
 (l) if other than the principal amount thereof, the portion of the principal amount of the Notes of the Series that shall
be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02; 
 (m) the designation of the currency,
currencies or currency units in which payment of the principal of, premium and interest, if any, on the Notes of the Series will be made if other than Dollars; 

(n) whether the Notes of any Series may be exchangeable for and/or convertible into common shares of the Company or any other security; 

  
 6 

 (o) the provisions, if any, relating to any security provided for the Notes of the Series,
and any subordination in right of payment, if any, of the Notes of the Series; 
 (p) any addition to or change in the Events of Default
which applies to any Notes of the Series and any change in the right of the Trustee or the requisite Holders of such Notes to declare the principal amount thereof due and payable pursuant to Section 6.02; 

(q) any addition to or change in the covenants set forth in Articles 4 or 5 that applies to Notes of the Series; 

(r) any other terms of the Notes of the Series (which may modify or delete any provision of this Indenture insofar as it applies to such
Series); and 
 (s) any depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to
Notes of such Series if other than those appointed herein. 
 All Notes of any one Series need not be issued at the same time and may be
issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officer’s Certificate referred to above, and, unless otherwise provided, a Series may
be reopened, without the consent of the Holders, for issuances of additional Notes of such Series; provided, however, that if such additional Notes are not fungible with the Notes of such Series for U.S. federal income tax purposes,
the additional Notes will have a separate CUSIP number. No Board Resolution or Officer’s Certificate may affect the Trustee’s own rights, duties or immunities under this Indenture or otherwise with respect to any series of Notes except as
it may agree in writing. 
 Section 2.03 Execution and Authentication. 

One Officer of the Company shall sign the Notes for the Company by manual or facsimile signature. If an Officer of the Company whose signature
is on a Note no longer holds that office at the time such Note is authenticated, such Note shall nevertheless be valid. 
 A Note shall not
be valid until authenticated by the manual signature of the Trustee. The signature shall be conclusive evidence that the Note, as applicable, has been authenticated under this Indenture. 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An authenticating agent may authenticate
Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the
Company. 
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Notes of any
Series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, and the Trustee in accordance with the Company Order will authenticate and deliver such Notes. The
Notes shall be dated their date of authentication. In authenticating such Notes, and accepting the additional responsibilities under this Indenture in relation to such Notes, the Trustee shall receive, and (subject to Section 7.01) will be
fully protected in relying upon, an Opinion of Counsel stating to the effect: 
 (a) that such form has been established in conformity with
the provisions of this Indenture; 
 (b) that such terms have been established in conformity with the provisions of this Indenture; and 

(c) that such Notes, when authenticated and delivered by the Trustee, in the manner and subject to any conditions specified in such Opinion of
Counsel, will constitute valid and binding obligations of the Company enforceable against the Company in accordance with their terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium, or other
laws relating to or affecting creditors’ rights and by general principles of equity and any other customary exceptions. 

  
 7 

 Section 2.04 Registrar and Paying Agent. 

The Company shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar shall keep a register with respect to each Series of the Notes and of their transfer and exchange. The
Company may appoint one or more co-registrars (provided that there shall be only one register) and one or more additional paying agents or change the office of such Registrar or Paying Agent. The term
“Registrar” includes any co-registrar and the term “Paying Agent” includes any additional paying agent. The Company may change any Paying Agent or Registrar without notice to any Holder;
however, the Company shall maintain a Paying Agent in each place of payment for the Notes of each Series. The Company shall promptly notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Company
fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 

The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act as Custodian with respect to the Global Notes.
The Company shall be responsible for making calculations called for under the Notes and this Indenture, including, but not limited to, determination of interest, additional amounts, redemption price, premium, if any, and any other amounts payable on
the Notes. The Company will make the calculations in good faith and, absent manifest error, its calculations will be final and binding on the Holders. The Company will provide a schedule of its calculations to the Trustee when requested by the
Trustee in writing, and the Trustee is entitled to rely conclusively on the accuracy of the Company’s calculations without independent verification. The Trustee shall forward the Company’s calculations to any Holder of the Notes upon the
written request of such Holder. 
 Section 2.05 Paying Agent to Hold Money in Trust. 

The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the
benefit of Holders of any Series of Notes, or the Trustee, all money held by the Paying Agent for the payment of principal or interest on the Series of Notes, and shall notify the Trustee of any default by the Company in making any such payment.
While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Subject to applicable abandoned
property laws, all payments to a Paying Agent on any Notes which remain unclaimed for a period of two years after such payment was due shall be repaid to the Company. Thereafter, the Holder may look only to the Company for repayment. Upon payment
over to the Trustee, or to the Company, as the case may be, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent, it shall segregate and hold
in a separate trust fund for the benefit of Holders of any Series of Notes all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee shall serve as Paying Agent for the Notes. 

Section 2.06 Holder Lists. 

The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of
Holders of each Series of Notes and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee, at least seven Business Days before each interest payment date and at such other
times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders of each Series of Notes and the Company shall otherwise comply with TIA
Section 312(a). 

  
 8 

 Section 2.07 Transfer and Exchange. 

Notes may be transferred or exchanged at the office of the Registrar or co-registrar designated by the
Company. Where Notes of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Notes of the same Series, the
Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and exchanges, the Trustee shall authenticate Notes at the Registrar’s request. No service charge
shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection
therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.06 or 9.05). 

Neither the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Notes of any Series for the
period beginning at the opening of business fifteen days immediately preceding the sending of a notice of redemption of Notes of that Series selected for redemption and ending at the close of business on the day such notice is sent, or (b) to
register the transfer of or exchange Notes of any Series selected, called or being called for redemption as a whole or a portion thereof, except the unredeemed portion of Notes being redeemed in part. 

Neither the Trustee nor any Agent shall have any obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depositary participants or beneficial owners of interests in any Global Note) other than
to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to
form with the express requirements hereof. 
 Section 2.08 Replacement Notes. 

If any mutilated Note is surrendered to the Trustee, or if the Company and the Trustee receive evidence to their satisfaction of the
destruction, loss or theft of any Note, the Company shall issue and the Trustee, upon receipt of a Company Order together with such indemnity bond sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee, any
Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced, shall authenticate a replacement Note of the same Series if the Trustee’s requirements are met. The Company may charge for its expenses in
replacing a Note. 
 Every replacement Note of any Series is an additional obligation of the Company and shall be entitled to all of the
benefits of this Indenture equally and proportionately with all other Notes of that Series duly issued hereunder. 
 Section 2.09
Outstanding Notes. 
 The Notes outstanding at any time are all the Notes authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section as not outstanding. Except as set
forth in Section 2.10 hereof, a Note does not cease to be outstanding because the Company or an Affiliate of the Company holds the Note. 

If a Note is replaced pursuant to Section 2.08 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory to it
that the replaced Note is held by a bona fide purchaser. 
 If the principal amount of any Note is considered paid under Section 4.01
hereof, it ceases to be outstanding and interest on it ceases to accrue. 

  
 9 

 If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof)
holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date, then on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to accrue interest. 

Section 2.10 Treasury Notes. 

In determining whether the Holders of the required principal amount of Notes of a Series have concurred in any direction, waiver or consent,
Notes owned by the Company, or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company, shall be considered as though not outstanding, except that for the purposes of determining
whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes of a Series that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. 

Section 2.11 Temporary Notes. 

Until certificates representing Notes are ready for delivery, the Company may prepare and the Trustee, upon receipt of a Company Order, shall
authenticate temporary Notes. Temporary Notes shall be substantially in the form of certificated Notes but may have variations that the Company considers appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee. Without
unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes. 

Holders of temporary Notes shall be entitled to all of the benefits of this Indenture. 

Section 2.12 Cancellation. 

The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any
Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation. The Company may not issue new
Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation, except as otherwise provided for in this Indenture. Cancelled Notes (subject to the record retention requirements of the Exchange Act) shall be
disposed of by the Trustee pursuant to its customary procedures and, upon request by the Company, the Trustee shall deliver a certificate or other evidence of such disposition. 

Section 2.13 Defaulted Interest. 

If the Company defaults in a payment of interest on a Series of Notes, it shall pay the defaulted interest in any lawful manner plus, to the
extent lawful, interest payable on the defaulted interest, to the Persons who are Holders of the Series on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company shall notify the
Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Company shall fix or cause to be fixed each such special record date and payment date, provided that no such
special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Company (or, upon the written request of the Company, the Trustee in the name and at
the expense of the Company) shall mail or cause to be mailed (or, in the case of the Depositary with respect to any Global Note, sent electronically) to Holders a notice that states the special record date, the related payment date and the amount of
such interest to be paid. 
 Section 2.14 Global Notes. 

(a) Terms of Notes. A Board Resolution, a supplemental indenture hereto, or an Officer’s Certificate shall establish whether the
Notes of a Series shall be issued in whole or in part in the form of one or more Global Notes and shall name the Depositary for such Global Note or Notes. Except as provided herein, each Global Note shall be (i) registered in the name of the
Depositary, (ii) deposited with the Depositary or its nominee, and (iii) bear the legend indicated in Section 2.14(c). 

  
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 (b) Transfer and Exchange. Notwithstanding any provisions to the contrary contained
in Section 2.07 and in addition thereto, any Global Note shall be exchangeable pursuant to Section 2.07 for Notes registered in the names of Holders other than the Depositary for such Note or its nominee only if (i) such Depositary
notifies the Company that it is unwilling or unable to continue as Depositary for such Global Note or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint
a successor Depositary registered as a clearing agency under the Exchange Act within 90 days of such event, (ii) the Company executes and delivers to the Trustee an Officer’s Certificate to the effect that such Global Note shall be so
exchangeable or (iii) an Event of Default with respect to the Notes represented by such Global Note shall have occurred and be continuing. Any Global Note that is exchangeable pursuant to the preceding sentence shall be exchangeable for Notes
registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Note with like tenor and terms. 

Except as provided in this Section 2.14(b), a Global Note may not be transferred except as a whole by the Depositary with respect to such
Global Note to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary, or any such nominee to a successor Depositary or a nominee of such a successor Depositary.

 (c) Legend. Any Global Note issued hereunder shall bear a legend in substantially the following form: 

“This Note is a Global Note within the meaning of the Indenture hereinafter referred to and is registered in the name of
the Depositary or a nominee of the Depositary. This Note is exchangeable for Notes registered in the name of a person other than the Depositary or its nominee only in the limited circumstances described in the Indenture, and may not be transferred
except as a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such a
successor Depositary.” 
 (d) Acts of Holders. The Depositary may appoint agents and otherwise authorize participants to give or
take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under this Indenture. The Company may establish a record date for purposes of determining the identity of Holders
entitled to vote or consent to any action by vote or consent authorized or permitted under this Indenture. 
 (e) Payments.
Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.02, payment of the principal of and interest, if any, on any Global Note shall be made to the Holder thereof. Prior to due
presentment of a Note 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 Note is registered as the owner of such Note for the purpose of receiving payment of
principal of and any premium and (subject to Section 2.13) any interest on such Note and for all other purposes whatsoever, and neither the Company, the Trustee nor any Agent or other agent of the Company or the Trustee will be affected by
notice to the contrary. 
 (f) Consents, Declaration and Directions. Except as provided in Section 2.14(e), the Company, the
Trustee and any Agent shall treat a Person as the Holder of such principal amount of outstanding Notes of such Series represented by a Global Note as shall be specified in a written statement of the Depositary with respect to such Global Note, for
purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture. 

(g) Responsibility of Trustee or Agents. Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not
taken by the Depositary. The Company has entered into a letter of representations with the Depositary in the form provided by the Depositary and the Trustee and each Agent is hereby authorized to act in accordance with such letter and the Applicable
Procedures. 
 Neither the Trustee nor any Agent shall have any responsibility or obligation to any beneficial owner in a Global Note, a
Depositary participant or other Person with respect to (i) the accuracy of the records of the Depositary or its nominee or of any Depositary participant with respect to any ownership interest in the Notes,

  
 11 

 
(ii) the delivery to any Depositary participant, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or (iii) the payment of any
amount under or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to Holders under the Notes and this Indenture shall be given or made only to or upon the order of the registered
holders (which shall be the Depositary or its nominee in the case of the Global Note). The rights of beneficial owners in the Global Note shall be exercised only through the Depositary subject to the Applicable Procedures. The Trustee and each Agent
shall be entitled to rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners, including information furnished in accordance with Subsections (b),
(d) or (f) of this Section 2.14. The Trustee and each Agent shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered holder of any Global Note for all purposes of this Indenture relating to such Global
Note (including the payment of principal, premium, if any, and interest and additional amounts, if any, and the giving of instructions or directions by or to the owner or holder of a beneficial ownership interest in such Global Note) as the sole
holder of such Global Note and shall have no obligations to the beneficial owners thereof. Neither the Trustee nor any Agent shall have any responsibility or liability for any acts or omissions of the Depositary with respect to such Global Note, for
the records of any such depositary, including records in respect of beneficial ownership interests in respect of any such Global Note, for any transactions between the Depositary and any Depositary participant or between or among the Depositary, any
such Depositary participant and/or any holder or owner of a beneficial interest in such Global Note, or for any transfers of beneficial interests in any such Global Note. 

Notwithstanding the foregoing, with respect to any Global Note, nothing herein shall prevent the Company, the Trustee, or any agent of the
Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any Depositary (or its nominee), as a Holder, with respect to such Global Note or shall impair, as between such Depositary and owners
of beneficial interests in such Global Note, the operation of customary practices governing the exercise of the rights of such Depositary (or its nominee) as Holder of such Global Note. 

Section 2.15 CUSIP Numbers. 

The Company in issuing the Notes may use “CUSIP,” “ISIN” or other similar numbers (if then generally in use), and, if so,
the Trustee shall use CUSIP, ISIN or other similar numbers in notices as a convenience to Holders; provided that the Trustee shall have no liability for any defect in the CUSIP, ISIN or other similar numbers as they appear on any Note, notice
or elsewhere, and provided further that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice and that reliance may be placed only on
the other identification numbers printed on the Notes, and any such notice shall not be affected by any defect in or the omission of such numbers. The Company shall promptly notify the Trustee in writing of any change in the CUSIP, ISIN or other
similar numbers. 
 ARTICLE 3 

REDEMPTION AND PREPAYMENT 

Section 3.01 Notice to Trustee. 

The Company may, with respect to any Series of Notes, reserve the right to redeem and pay the Series of Notes or may covenant to redeem and pay
the Series of Notes or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Notes. If a Series of Notes is redeemable and the Company wants or is obligated to redeem prior to the Stated
Maturity thereof all or part of the Series of Notes pursuant to the terms of such Notes, it shall notify the Trustee in writing of the redemption date and the principal amount of Series of Notes to be redeemed. The Company shall give the notice at
least 15 days prior to the mailing or sending of notice of redemption to the Holders of the Notes to be redeemed (or such shorter notice as may be acceptable to the Trustee). 

  
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 Section 3.02 Selection of Notes to Be Redeemed. 

If less than all of the Notes of a Series are to be redeemed or purchased in an offer to purchase at any time, the Trustee shall select the
Notes of a Series to be redeemed or purchased among the Holders of the Notes (a) in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed or (b) if the Notes are not so
listed, on a pro rata basis to the extent practicable, by lot or the Applicable Procedures of the Depositary or in accordance with any other method the Trustee considers fair and appropriate. 

The Trustee shall promptly notify the Company in writing of the Notes selected for redemption and, in the case of any Note selected for
partial redemption, the principal amount thereof to be redeemed. Notes of a Series and portions of them selected shall be in amounts of no less than $2,000 and whole multiples of $1,000 in excess thereof, or with respect to Notes of any Series
issuable in other denominations pursuant to Section 2.02(j), the minimum principal denomination for each Series and integral multiples thereof. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes of a
Series called for redemption or repurchase also apply to portions of Notes of a Series called for redemption or repurchase. 

Section 3.03 Notice of Redemption. 

Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, at
least 10 days but not more than 60 days before a redemption date, the Company shall mail or cause to be mailed, by first class mail, or, in the case of the Depositary with respect to any Global Note, sent electronically, a notice of redemption to
each Holder whose Notes are to be redeemed at its registered address. 
 The notice shall identify the Notes of the Series to be redeemed
and shall state: 
 (1) the redemption date; 

(2) the redemption price (or manner of calculation if not then known); 

(3) the name and address of the Paying Agent; 

(4) that Notes of the Series called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 (5) that interest on Notes of the Series called for redemption ceases to accrue on and after the redemption date; 

(6) the CUSIP number, if any, provided that no representation is made as to the correctness or accuracy of the CUSIP number, if
any, listed in such notice or printed on the Notes; 
 (7) the conditions precedent, if any, to the redemption; and 

(8) any other information as may be required by the terms of the particular Series of the Notes or the Notes of a Series being
redeemed. 
 At the Company’s request, and upon receipt of an Officer’s Certificate complying with Section 11.04 hereof at
least 15 days prior to the date notice is to be given (unless a shorter period shall be satisfactory to the Trustee), together with the notice to be given setting forth the information to be stated therein as provided in the preceding
paragraph, the Trustee shall give the notice of redemption in the Company’s name and at its expense. 
 Section 3.04
Effect of Notice of Redemption. 
 Once notice of redemption is sent in accordance with Section 3.03 hereof,
Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price. Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officer’s Certificate,
a notice of redemption may not be conditional. 

  
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 Section 3.05 Deposit of Redemption Price. 

At least one Business Day prior to the redemption date, the Company shall deposit with the Trustee or with the Paying Agent money sufficient to
pay the redemption price of and accrued interest on all Notes to be redeemed on that date. The Trustee or the Paying Agent shall promptly return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the
amounts necessary to pay the redemption price of, and accrued interest on, all Notes to be redeemed. 
 If the Company complies with the
provisions of the preceding paragraph, on and after the redemption date, interest shall cease to accrue on the Notes or the portions of Notes called for redemption. If any Note called for redemption shall not be so paid upon surrender for redemption
because of the failure of the Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid
principal, in each case at the rate provided in the Notes and in Section 4.01 hereof. 
 Section 3.06 Notes Redeemed
in Part. 
 Upon surrender of a Note that is redeemed in part, the Company shall issue and, upon the Company’s written
request, the Trustee shall authenticate for the Holder, or transfer by book-entry at the expense of the Company, a new Note equal in principal amount to the unredeemed portion of the Note surrendered. 

No Notes of $2,000 or less can be redeemed in part (or with respect to Notes of any Series issuable in other denominations pursuant to
Section 2.02(j), the minimum denomination for each Series and integral multiples thereof). 
 ARTICLE 4 

COVENANTS 

Section 4.01 Payment of Principal and Interest. 

The Company covenants and agrees for the benefit of the Holders of each Series of Notes that it will pay or cause to be paid the principal of,
premium, if any, and interest on such Series of Notes on the dates and in the manner provided in such Notes. Principal, premium, if any, and interest on any Series of Notes will be considered paid on the date due if the Paying Agent, if other than
the Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest then due.

 Section 4.02 Maintenance of Office or Agency. 

The Company covenants and agrees for the benefit of the Holders of each Series of Notes that it will maintain an office or agency (which may be
an office of the Trustee for such Notes or an affiliate of the Trustee, Registrar for such Notes or co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where notices
and demands to or upon the Company in respect of such Notes and this Indenture may be served. The Company will give prompt written notice to the Trustee for such Notes of the location, and any change in the location, of such office or agency. If at
any time the Company fails to maintain any such required office or agency or fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the
Trustee. 
 With respect to each Series of Notes, the Company hereby designates the Corporate Trust Office of the Trustee as one such office
or agency of the Company in accordance with Section 2.04. 

  
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 Section 4.03 Reports. 

The Company will at all times comply with TIA § 314(a). Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustee’s receipt of such shall not constitute actual or constructive notice or knowledge of any information contained therein or determinable from information contained therein, including the Company’s
compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

Section 4.04 Compliance Certificate. 

The Company and each guarantor of any Series of Notes (to the extent that such guarantor is so required under the TIA) shall deliver to the
Trustee with respect to such Series, within 120 days after the end of each fiscal year, an Officer’s Certificate that need not comply with Section 11.05 signed by the principal executive officer, the principal financial officer or the
principal accounting officer, stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officer of the Company with a view to determining whether
the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to the Officer of the Company signing such certificate, that to the best of his or her knowledge the Company has kept, observed,
performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default shall have
occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto). 

Section 4.05 Taxes. 

The Company will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental
levies except such as are contested in good faith and by appropriate proceedings and for which adequate reserves have been established in accordance with GAAP or where the failure to effect such payment is not adverse in any material respect to the
Holders of the Notes. 
 Section 4.06 Stay, Extension and Usury Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not, and each guarantor of such Notes will not, at any time
insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture;
and the Company and each of such guarantors (to the extent that it may lawfully do so), as applicable, hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or
impede the execution of any power herein granted to the Trustee for such Notes, but will suffer and permit the execution of every such power as though no such law has been enacted. 

Section 4.07 Corporate Existence. 

Subject to Articles 5 hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect: 

(a) its corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the respective
organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; and 
 (b) the rights
(charter and statutory), licenses and franchises of the Company and its Subsidiaries; provided, however, that the Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other
existence of any of its Subsidiaries, if an Officer of the Company shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof
is not adverse in any material respect to the Holders of the Notes. 

  
 15 

 ARTICLE 5 

SUCCESSORS 

Section 5.01 Merger, Consolidation, or Sale of Assets. 

The Company shall not, directly or indirectly: 

(a) merge or consolidate with or into another Person or Persons; or 

(b) sell, convey, transfer, lease or otherwise dispose of all or substantially all of the properties or assets of the Company and its
Subsidiaries taken as a whole, in one or more related transactions, to another Person or Persons, unless: 
 (1) either: 

(A) the transaction is a merger or consolidation and the Company is the surviving Person; or 

(B) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale,
conveyance, transfer, lease or other disposition has been made is a corporation, limited liability company, partnership, trust or other entity organized and existing under the laws of the United States, any state of the United States or the District
of Columbia and expressly assumes all the obligations of the Company under the Notes and this Indenture pursuant to a supplemental indenture; 

(2) immediately after giving effect to such transaction and treating the Company’s obligations in connection with or as a
result of such transaction as having been incurred as of the time of such transaction, no Default or Event of Default shall have occurred and be continuing; and 

(3) the Company or the surviving entity shall have delivered to the Trustee (a) an Officer’s Certificate stating that
the conditions in (1) and (2) above have been complied with and any other conditions precedent in this Indenture relating to such transaction have been complied with and (b) an Opinion of Counsel stating that the conditions in
(1) above have been complied with and any other conditions precedent in this Indenture relating to such transaction have been complied with. 

Section 5.02 Successor Corporation Substituted. 

Upon any merger or consolidation, or any sale, conveyance, transfer, lease or other disposition of all or substantially all of the properties
or assets of the Company and its Subsidiaries, taken as a whole, in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof, the successor Person into which the Company is merged or formed by such
consolidation or to which such sale, conveyance, transfer, lease or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such merger, consolidation, sale, conveyance, transfer, lease or other
disposition, the provisions of this Indenture referring to the “Company” shall be deemed to refer instead to the successor Person and not to the Company), 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 (except in the case of a lease) when the successor Person expressly assumes all the obligations of the Company under this Indenture and the Notes pursuant to and in
accordance with Section 5.01(b)(1)(B) hereof, the predecessor Company shall be relieved from all such obligations. 

  
 16 

 ARTICLE 6 

DEFAULTS AND REMEDIES 

Section 6.01 Events of Default. 

“Event of Default,” wherever used herein with respect to Notes of any Series, means any one of the following events, unless in the
establishing Board Resolution, supplemental indenture or Officer’s Certificate, it is provided that such Series shall not have the benefit of said Event of Default: 

(a) default in the payment of any interest on any Note of that Series when it becomes due and payable, and continuance of such default for a
period of 30 days; or 
 (b) default in payment when due of the principal of, or premium, if any, on any Note of that Series; or 

(c) default in the performance or breach of any covenant or warranty of the Company in this Indenture or in any Board Resolution, supplemental
indenture or Officer’s Certificate with respect to such Series (other than a covenant or warranty that has been included in this Indenture or a Board Resolution, supplemental indenture or Officer’s Certificate solely for the benefit of
Series of Notes other than that Series), which default continues uncured for a period of 90 days after (i) the Company receives written notice from the Trustee for such Notes or (ii) the Company and the Trustee receive written notice from
Holders of not less than 25% in aggregate principal amount of Notes of that Series outstanding; or 
 (d) the Company: 

(1) commences a voluntary case under applicable bankruptcy, insolvency or other similar law, 

(2) consents to the entry of an order for relief against it in an involuntary bankruptcy case, 

(3) applies for or consents to the appointment of any custodian, receiver, trustee, sequestrator, conservator, liquidator,
rehabilitator or similar officer of it or for all or substantially all of its property and assets, 
 (4) makes a general
assignment for the benefit of its creditors, or 
 (5) generally is unable to pay its debts as they become due; 

(e) an involuntary case or other proceeding is commenced against the Company with respect to it or its debts under any bankruptcy, insolvency
or other similar law now or hereafter in effect seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and such involuntary case or other proceeding remains
undismissed and unstayed for a period of 60 consecutive days; or an order for relief is entered against the Company under the federal bankruptcy laws as now or hereafter in effect; or 

(f) any other Event of Default provided with respect to Notes of that Series, which is specified in a Board Resolution, a supplemental
indenture hereto or an Officer’s Certificate, in accordance with Section 2.02. 
 Section 6.02
Acceleration. 
 If an Event of Default with respect to Notes of any Series at the time outstanding occurs and is
continuing (other than an Event of Default referred to in Section 6.01(d) or (e)) then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the outstanding Notes of that Series may declare the
principal amount of and accrued and unpaid interest, if any, on all of the Notes of that Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such
principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified in Section 6.01(d) or (e) shall occur, the principal amount (or specified amount) of
and accrued and unpaid interest, if any, on all outstanding Notes shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 

  
 17 

 At any time after such a declaration of acceleration with respect to any Series has been
made, the Holders of a majority in principal amount of the outstanding Notes of that Series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences (i) if the rescission and annulment would
not conflict with any judgment or decree already rendered, (ii) if all existing Events of Default with respect to that Series (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been
cured or waived and all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses and disbursements of the Trustee and its agents and counsel have been paid and (iii) if the Company has paid or deposited with the
Trustee a sum sufficient to pay (a) any overdue interest on the Notes of such Series, (b) the principal amount of such Series of Notes (except the principal, interest or premium that has become due solely because of the acceleration) and
(c) to the extent lawful and applicable, interest on overdue installments of interest at the rate specified in the Notes of such Series. 

No such rescission shall affect any subsequent Event of Default or impair any right consequent thereon. 

Section 6.03 Other Remedies. 

If an Event of Default with respect to Notes of any Series at the time outstanding occurs and is continuing, the Trustee may pursue any
available remedy to collect the payment of principal, premium, if any, and interest on such Notes or to enforce the performance of any provision of such Notes or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay
or omission by the Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law. 
 Section 6.04 Waiver of Past Defaults. 

Prior to the acceleration of the maturity of the Notes of any Series as provided in Section 6.02, the Holders of a majority in aggregate
principal amount of the Notes of any Series then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes of such Series waive any existing Default or Event of Default with respect to such Series and its consequences
under this Indenture except (i) a continuing Default or Event of Default in the payment of premium or interest on, or the principal of, the Notes of such Series (including in connection with an offer to purchase) or (ii) a Default or Event
of Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder affected thereby. Upon any such waiver, such Default or Event of Default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 

Section 6.05 Control by Majority. 

Holders of a majority in aggregate principal amount of the then outstanding Notes of any Series may in writing direct the time, method and
place of conducting any proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it, subject to Section 7.02(f). However, the Trustee may refuse to follow any direction that conflicts with law
or this Indenture that the Trustee determines may be unduly prejudicial to the rights of other Holders of Notes of such Series (it being understood that the Trustee does not have an affirmative duty to ascertain whether any such directions are
unduly prejudicial to such Holders) or that may involve the Trustee in personal liability. The Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. 

  
 18 

 Section 6.06 Limitation on Suits. 

A Holder of any Series of Notes may pursue a remedy with respect to this Indenture or the Notes only if: 

(a) the Holder of a Note gives to the Trustee written notice of a continuing Event of Default; 

(b) the Holders of at least 25% in aggregate principal amount of the then outstanding Notes of such Series make a written request to the
Trustee to pursue the remedy; 
 (c) such Holder of a Note or Holders of Notes offer and, if requested, provide to the Trustee security or
indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (d) the Trustee does not comply with the request within 60
days after receipt of the request and the offer and, if requested, the provision of security or indemnity; and 
 (e) during such 60-day period the Holders of a majority in aggregate principal amount of the then outstanding Notes of such Series do not give the Trustee a direction inconsistent with the request. 

A Holder of any Series of Notes may not use this Indenture to prejudice the rights of another Holder of Notes or to obtain a preference or
priority over another Holder of Notes. 
 Section 6.07 Rights of Holders of Notes to Receive Payment. 

Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to receive payment of principal, premium, if any, and
interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired
or affected without the consent of such Holder. 
 Section 6.08 Collection Suit by Trustee. 

If an Event of Default specified in Section 6.01 (a) or (b) hereof occurs and is continuing, the Trustee is authorized to recover
judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium, if any, and interest remaining unpaid on, the Notes and interest on overdue principal and, to the extent lawful, interest
and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

Section 6.09 Trustee May File Proofs of Claim. 

The Trustee for each Series of Notes is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable
in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders of the Notes of such Series allowed in any judicial
proceedings relative to the Company (or any other obligor upon the Notes of such Series), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any
such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder of such Series to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the
Holders of such Series, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof. To
the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall
be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders of such Series may be entitled to receive in such
proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

  
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 Section 6.10 Priorities. 

If the Trustee collects any money or other property with respect to a Series of Notes pursuant to this Article 6, it shall pay out the money or
other property, or after an Event of Default, any money or other property is distributable in respect of the Company’s obligations under this Indenture, the money or property shall be paid, in either case, in the following order: 

First: to the Trustee (including any predecessor trustee), its agents and attorneys for amounts due under
Section 7.07 hereof applicable to the Notes of such Series, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

Second: to Holders of Notes of such Series for amounts due and unpaid on the Notes for principal, premium, if any, and
interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively; and 

Third: to the Company or to such party as a court of competent jurisdiction shall direct. 

The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. 

Section 6.11 Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder of a Note
pursuant to Section 6.07 hereof, or a suit by Holders or group of Holders of more than 10% in principal amount of the then outstanding Notes of any Series. 

Section 6.12 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 will be restored
severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders will continue as though no such proceeding had been instituted. 

Section 6.13 Waiver of Stay, Extension of Usury Laws. 

The Company covenants, to the extent that it may lawfully do so, that it shall not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Company from paying all or any portion of the principal of, premium, if any, or interest (including
additional interest, if any) on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of the Indenture. The Company hereby expressly waives, to the extent that
it may lawfully do so, all benefit or advantage of any such law and covenants that it shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as if no
such law had been enacted. 

  
 20 

 ARTICLE 7 

TRUSTEE 

Section 7.01 Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee will 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 such person’s own affairs. 

(b) Except during the continuance of an Event of Default, the duties of the Trustee will be determined solely by the express provisions of
this Indenture and the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee. 

(c) In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee will examine the certificates and opinions 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, statements, opinions or conclusions stated therein). 

(d) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (1) this paragraph does not limit the effect of paragraphs (b), (c) and (e) of this
Section 7.01; 
 (2) the Trustee will not be liable for any error of judgment made in good faith by a Responsible
Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee will
not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05 hereof. 

(e) No provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. The Trustee will be under
no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder has offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense. 

(f) Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to
paragraphs (a), (b), (c) and (d) of this Section 7.01. 
 (g) The Trustee will not be liable for interest on, or required to
invest, any money received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. The Trustee shall not be required to give
any bond or surety in respect of the performance of its powers or duties hereunder. 
 (h) The permissive rights or powers of the Trustee to
do things enumerated in this Indenture shall not be construed as a duty of the Trustee. 
 Section 7.02 Rights of
Trustee. 
 (a) The Trustee may conclusively rely upon any document (whether in its original or facsimile form) believed by it
to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document. 

  
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 (b) Before the Trustee acts or refrains from acting or as specifically called for in this
Indenture, it may require an Officer’s Certificate or an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. The
Trustee may consult with counsel of its selection and the written advice of such counsel or any Opinion of Counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it
hereunder in good faith and in reliance thereon. 
 (c) The Trustee may act through its attorneys and agents and will not be responsible for
the misconduct or negligence of any attorney or agent appointed with due care. 
 (d) The Trustee will not be liable for any action it takes
or omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 
 (e)
Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company will be sufficient if signed by an Officer of the Company. Any resolution of the Board of Directors may be sufficiently evidenced by
a Board Resolution. 
 (f) The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at
the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to the Trustee against the losses, liabilities and expenses that might be incurred by it in compliance with such
request or direction. 
 (g) 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, pandemics, epidemics,
recognized public emergencies, quarantine restrictions, nuclear or natural catastrophes or acts of God, or 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. 

(h) In no event shall the Trustee be responsible or liable for special, indirect, punitive, 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. 

(i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
compensated, reimbursed, and 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. 

(j) The Trustee shall not be deemed to have notice or be charged with knowledge of any Default or Event of Default unless written notice of
such Default or Event of Default from the Company or by the Holders of at least 25% in aggregate principal amount of the then outstanding Notes of such Series is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the
Trustee, and such notice references the Notes and this Indenture. 
 (k) 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. 

(l) The Trustee will 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, or inquire as to the performance by the Company or any guarantor of any of their covenants in
this Indenture, 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 will be entitled
to examine the books, records, and premises of the Company or any such guarantor, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or
investigation. 

  
 22 

 Section 7.03 Individual Rights of Trustee. 

The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any
Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest as defined in the TIA it must eliminate such conflict within 90 days, apply to the SEC for
permission to continue as trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof. 

Section 7.04 Trustee’s Disclaimer. 

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

Section 7.05 Notice of Defaults. 

If a Default or Event of Default occurs and is continuing and if it is known to a Responsible Officer of the Trustee, the Trustee will mail to
Holders of Notes a notice of the Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Trustee has actual knowledge of such Default or Event of Default. Except in the case of a Default or Event
of Default in payment of principal of, premium, if any, or interest on, any Note, the Trustee may withhold the notice from Holders of the Notes if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith
determines that withholding the notice is in the interests of the Holders of the Notes. 
 Section 7.06 Reports by Trustee
to Holders of the Notes. 
 (a) Within 60 days after each July 15 beginning with the July 15 following the first issuance of
Notes under this Indenture, and for so long as Notes remain outstanding, the Trustee will mail to the Holders of the Notes a brief report dated as of such reporting date that complies with TIA § 313(a) (but if no event described in TIA
§ 313(a) has occurred within the twelve months preceding the reporting date, no report need be transmitted). The Trustee also will comply with TIA § 313(b)(2). The Trustee will also transmit by mail all reports as required by TIA
§ 313(c). 
 (b) A copy of each report at the time of its mailing to the Holders of Notes will be mailed by the Trustee to the
Company and filed by the Trustee with the SEC and each stock exchange on which the Notes are listed in accordance with TIA § 313(d). The Company will promptly notify the Trustee when the Notes are listed on any stock exchange or delisted
therefrom. 
 Section 7.07 Compensation and Indemnity. 

(a) The Company will pay to the Trustee from time to time such compensation for its acceptance of this Indenture and services hereunder as the
Trustee and the Company may agree from time to time in writing. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. The Company will reimburse the Trustee promptly upon request for all
reasonable disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses will include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel
(including reasonable counsel fees and expenses incurred in connection with enforcement of such right to indemnity), costs of collection and any additional fees the Trustee may incur acting after a Default or Event of Default. 

  
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 (b) The Company will indemnify the Trustee, its officers, directors, employees,
representatives and agents from and against any and all losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses of
enforcing this Indenture against the Company (including this Section 7.07) and defending itself against any claim (whether asserted by the Company, any Holder or any other Person) or liability in connection with the exercise or performance of
any of its powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence or willful misconduct. The Trustee will notify the Company promptly of any claim for which it may seek indemnity.
Failure by the Trustee to so notify the Company will not relieve the Company of its obligations hereunder. The Company will defend the claim and the Trustee will cooperate in the defense. The Trustee may have separate counsel of its own selection
and the Company will pay the reasonable, documented fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent will not be unreasonably withheld. 

(c) The obligations of the Company under this Section 7.07 will survive the resignation or removal of the Trustee and the satisfaction
and discharge of this Indenture. 
 (d) To secure the Company’s payment obligations in this Section 7.07, the Trustee will have a
Lien prior to the Notes on all money or other property held or collected by the Trustee. Such Lien will survive the resignation or removal of the Trustee, the termination for any reason of this Indenture and the satisfaction and discharge of this
Indenture. 
 (e) When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(d) or
(e) hereof occurs, the expenses and the compensation for the services (including the reasonable, documented fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 

(f) The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent applicable. 

(g) “Trustee” for the purposes of this Section 7.07 shall include any predecessor Trustee and the Trustee in each of its
capacities hereunder and each agent, custodian and other Person employed to act hereunder; provided, however, that the negligence or willful misconduct of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 

Section 7.08 Replacement of Trustee. 

(a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section 7.08. 
 (b) The Trustee may resign in writing at any time and be discharged from
the trust hereby created with respect to one or more Series of Notes by so notifying the Company with 30 days prior notice. 
 (c) The
Holders of a majority in aggregate principal amount of the then outstanding Notes of such Series may remove the Trustee by so notifying the Trustee and the Company with 30 days prior notice in writing. 

(d) The Company may remove the Trustee with respect to one or more Series of Notes with 30 days prior written notice if: 

(1) the Trustee fails to comply with Section 7.10 hereof; 

(2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any
Bankruptcy Law; 

  
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 (3) a custodian or public officer takes charge of the Trustee or its
property; or 
 (4) the Trustee becomes incapable of acting. 

(e) If the Trustee has been removed by the Holders, Holders of a majority in aggregate principal amount outstanding of such Series of Notes
(voting as a single class) may appoint a successor Trustee with the consent of the Company. Otherwise, if the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company will promptly appoint a successor
Trustee. If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes of
such Series may petition any court of competent jurisdiction, at the expense of the Company, for the appointment of a successor Trustee. 

(f) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with Section 7.10
hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(g) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders.
The retiring Trustee will promptly transfer all properly held by it as Trustee to the successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof.
Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof will continue for the benefit of the retiring Trustee. 

Section 7.09 Successor Trustee by Merger, etc. 

If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another Person,
the successor Person without any further act will be the successor Trustee. 
 Section 7.10 Eligibility;
Disqualification. 
 There will at all times be a Trustee hereunder that is a corporation organized and doing business under
the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital
and surplus of at least $50.0 million as set forth in its most recent published annual report of condition. 
 This Indenture will
always have a Trustee who satisfies the requirements of TIA § 310(a)(l), (2) and (5). The Trustee is subject to TIA § 310(b). There shall be excluded from the operation of TIA § 310(b)(1) any series of Notes under this
Indenture if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. 
 Section 7.11
Preferential Collection of Claims Against Company. 
 The Trustee is subject to TIA § 311(a), excluding
any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 

Section 7.12 Trustee’s Application for Instructions from the
Company. 
 Any application by the Trustee for written instructions from the Company may, at the option of the Trustee, set
forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken
by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than five Business Days after the date any Officer actually receives such
application, unless any such Officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Trustee has received written instructions in response to such
application specifying the action to be taken or omitted. 

  
 25 

 ARTICLE 8 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance. 

The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officer’s Certificate,
elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8. 

Section 8.02 Legal Defeasance and Discharge. 

Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Company will, subject
to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from its obligations with respect to all outstanding Notes of such Series on the date the conditions set forth below are satisfied
(hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company will be deemed to have paid and discharged the entire indebtedness represented by the outstanding Notes of such Series, which will
thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (a) and (b) below, and to have satisfied all their other obligations under such
Notes and this Indenture (and the Trustee, on written demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which will survive until otherwise terminated or
discharged hereunder: 
 (a) the rights of Holders of outstanding Notes to receive payments in respect of the principal of, or interest or
premium, if any, on, such Notes when such payments are due from the trust referred to in Section 8.04 hereof; 
 (b) the Company’s
obligations with respect to such Notes under Article 2 and Section 4.02 hereof; 
 (c) the rights, powers, trusts, duties and
immunities of the Trustee hereunder and the Company’s obligations in connection therewith; and 
 (d) this Article 8. 

Subject to compliance with this Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise
of its option under Section 8.03 hereof. 
 Section 8.03 Covenant Defeasance. 

Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Company and each of the
guarantors, if any, will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from their obligations under the covenants contained in Section 4.03 and any other covenants specified in the applicable
Board Resolutions, supplemental indenture or Officer’s Certificate as being subject to covenant defeasance pursuant to this Section 8.03, in each case, with respect to the outstanding Notes of the applicable Series on and after the date
the conditions set forth in Section 8.04 are satisfied (hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration
or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Notes shall not be deemed outstanding
for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes of such Series, 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 covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission
to comply shall not constitute a Default or an 

  
 26 

 
Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. In addition, upon the Company’s
exercise under Section 8.01 hereof of the option applicable to this Section 8.03 hereof, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, the failure to comply with any such covenant shall not constitute
an Event of Default pursuant to Section 6.01(c). 
 Section 8.04 Conditions to Legal or Covenant
Defeasance. 
 In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03
hereof: 
 (a) the Company must irrevocably deposit with the Trustee (or another entity or agent appointed by it for such purpose), in
trust, for the benefit of the Holders, cash in Dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient, in the written opinion of a nationally recognized
investment bank, appraisal firm, or firm of independent public accountants delivered to the Trustee, to pay the principal of, premium, if any, and interest on, the outstanding Notes on the stated date for payment thereof or on the applicable
redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to such stated date for payment or to a particular redemption date; 

(b) in the case of an election under Section 8.02 hereof, the Company must deliver to the Trustee an Opinion of Counsel confirming that:

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

(2) since the date of this Indenture, there has been a change in the applicable federal income tax law, 

in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the beneficial owners of the outstanding Notes
will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such
Legal Defeasance had not occurred; 
 (c) in the case of an election under Section 8.03 hereof, the Company must deliver to the Trustee
an Opinion of Counsel confirming that the beneficial owners of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the
same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 
 (d) no
Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach
or violation of, or constitute a default under, any other instrument to which the Company is a party or by which the Company is bound; 

(e) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material
agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 

(f) the Company must deliver to the Trustee an Officer’s Certificate stating that the deposit was not made by the Company with the intent
of preferring the Holders of Notes over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and 

(g) the Company must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions
precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 

  
 27 

 Section 8.05 Deposited Money and Government Securities to be Held in
Trust; Other Miscellaneous Provisions. 
 Subject to Section 8.06 hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”)
pursuant to Section 8.04 hereof in respect of the outstanding Notes of any Series will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through
any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be
segregated from other funds except to the extent required by law. 
 The Company will pay and indemnify the Trustee against any tax, fee or
other charge imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than
any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes of the applicable Series. 

Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Company from time to time upon the request
of the Company any money or non-callable Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent
Legal Defeasance or Covenant Defeasance. 
 Section 8.06 Repayment to Company. 

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

Section 8.07 Reinstatement. 

If the Trustee or Paying Agent is unable to apply any Dollars or non-callable Government Securities in
accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s and any
applicable guarantors’ obligations under this Indenture and the applicable Notes and the guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or
Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any, or interest on, any
Note following the reinstatement of its obligations, the Company will be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

  
 28 

 ARTICLE 9 

AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.01 Without Consent of Holders of Notes. 

Notwithstanding Section 9.02 of this Indenture, the Company and the Trustee may amend or supplement this Indenture or the Notes of one or
more Series without the consent of any Holder of a Note: 
 (a) to cure any ambiguity or to correct or supplement any provision contained
herein or in any supplemental indenture that may be defective or inconsistent with any other provision contained herein or in any supplemental indenture, or to conform the provisions of this Indenture to the description of the Notes contained in the
applicable prospectus or other offering document pursuant to which the Notes of one or more Series were sold, as evidenced by an Officer’s Certificate stating that such text constitutes an unintended conflict with the description of the
corresponding provision in the offering document; 
 (b) to provide for uncertificated Notes in addition to or in place of certificated
Notes; 
 (c) to provide for the assumption of the Company’s obligations to the Holders of the Notes by a successor to the Company
pursuant to Article 5 hereof; 
 (d) to make any change that would provide any additional rights or benefits to the Holders of all or any
Series of Notes or that does not adversely affect the rights hereunder of any Holder in any material respect; 
 (e) to comply with
requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 
 (f) to provide for the issuance
of and establish the form and terms and conditions of Notes of any Series as permitted by this Indenture; 
 (g) to add guarantees with
respect to the Notes of any Series or to provide security for the Notes of any Series; or 
 (h) to evidence and provide for the acceptance
of appointment hereunder by a successor Trustee with respect to the Notes 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. 
 Upon the request of the Company accompanied by a Board Resolution authorizing the execution of any
such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Company in the execution of any amended or supplemental indenture authorized or permitted
by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that affects its own rights,
duties or immunities under this Indenture or otherwise. 
 Section 9.02 With Consent of Holders of Notes.

 The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in
aggregate principal amount of the outstanding Notes of each Series affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer for the Notes of such Series), for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of Notes of each such Series. Except as otherwise provided
herein, the Holders of at least a majority in aggregate principal amount of the outstanding Notes of each Series, by notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Notes of such Series)
may waive compliance by the Company with any provision of this Indenture or the Notes with respect to such Series. 

  
 29 

 It shall not be necessary for the consent of the Holders of Notes under this
Section 9.02 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. Upon the request of the Company accompanied by a resolution of its Board of
Directors authorizing the execution of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of
the documents described in Section 7.02 hereof, the Trustee will join with the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights,
duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture. 

After a supplemental indenture or waiver under this section becomes effective, the Company shall mail to the Holders of Notes affected thereby
a notice briefly describing the supplemental indenture or waiver. Any failure by the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver.
However, without the consent of each Holder affected, an amendment or waiver under this Section 9.02 may not, with respect to any Notes held by a non-consenting Holder: 

(a) reduce the principal amount, any premium or change the Stated Maturity of any Note or alter or waive any of the provisions with respect to
the redemption or repurchase of the Notes; 
 (b) reduce the rate (or alter the method of computation) of or extend the time for payment of
interest, including defaulted interest, on any Note; 
 (c) waive a Default or Event of Default in the payment of principal of or premium,
if any, or interest on the Notes, except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding Notes of such Series with respect to a nonpayment default and a waiver of
the payment default that resulted from such acceleration; 
 (d) make the principal of or premium, if any or interest on any Note payable in
currency other than that stated in the Notes; 
 (e) change any place of payment where the Notes of any series or interest thereon is
payable; 
 (f) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of the
Notes to receive payments of principal of or premium, interest, if any, on the Notes and to institute suit for the enforcement of any such payments; 

(g) make any change in the foregoing amendment and waiver provisions; or 

(h) reduce the percentage in principal amount of any Notes, the consent of the Holders of which is required for any of the foregoing
modifications or otherwise necessary to modify or amend this Indenture or to waive any past Defaults. 
 Section 9.03
Compliance with Trust Indenture Act. 
 Every amendment to this Indenture or the Notes of one or more Series will be
set forth in a supplemental indenture hereto that complies with the TIA as then in effect. 
 Section 9.04 Revocation and
Effect of Consents. 
 Until an amendment or waiver becomes effective, a consent to it by a Holder of a Note is a continuing
consent by the Holder of a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note
or subsequent Holder of a Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment or waiver becomes effective. An amendment or waiver becomes effective in accordance with its
terms and thereafter binds every Holder. 

  
 30 

 Section 9.05 Notation on or Exchange of Notes. 

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

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

Section 9.06 Trustee to Sign Amendments, etc. 

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 Section 7.01) shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that the execution and
delivery of such supplemental indenture are authorized or permitted by this Indenture, and an Opinion of Counsel stating that it will be the legal, valid and binding upon the Company and, in the case of any guarantor, such guarantor, in accordance
with its terms, subject to customary exceptions. The Trustee shall sign all supplemental indentures, except that the Trustee need not sign any supplemental indenture that adversely affects its rights under this Indenture. 

ARTICLE 10 
 SATISFACTION
AND DISCHARGE 
 Section 10.01 Satisfaction and Discharge. 

This Indenture will be discharged and will cease to be of further effect as to a Series of Notes issued hereunder, when: 

(a) either: 
 (1)
all such Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money has theretofore been deposited in trust and thereafter repaid to the Company, have been delivered
to the Trustee for cancellation; or 
 (2) all such Notes that have not been delivered to the Trustee for cancellation have
become due and payable by reason of the sending of a notice of redemption or otherwise or will become due and payable within one year and the Company has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely
for the benefit of the Holders of such Notes, cash in Dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient, without consideration of any reinvestment of
interest, to pay and discharge the entire indebtedness on the Notes not delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption; 

(b) no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of Default
resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, or constitute a default under, any other material instrument to which the Company or any guarantor, as applicable, is a
party or by which the Company, or any guarantor, as applicable, is bound; 
 (c) the Company or any guarantor of such Notes has paid or
caused to be paid all sums payable by it under this Indenture; and 
 (d) the Company has delivered irrevocable instructions to the Trustee
under this Indenture to apply the deposited money toward the payment of the Notes at maturity or on the redemption date, as the case may be. 

  
 31 

 In addition, the Company must deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee
stating that all conditions precedent to satisfaction and discharge have been satisfied. 
 Notwithstanding the satisfaction and discharge
of this Indenture, if money has been deposited with the Trustee pursuant to subclause (2) of clause (a) of this Section 10.01, the provisions of Sections 10.02 and 8.06 hereof will survive. In addition, nothing in this
Section 10.01 will be deemed to discharge those provisions of Section 7.07 hereof, that, by their terms, survive the satisfaction and discharge of this Indenture. After the conditions to discharge contained in this Article Ten have been
satisfied, and the Company has paid or caused to be paid all other sums payable hereunder by the Company, and delivered to the Trustee an Officer’s Certificate and Opinion of Counsel, each stating that all conditions precedent to satisfaction
and discharge have been satisfied, the Trustee upon Company request shall acknowledge in writing the discharge of the obligations of the Company (except for those surviving obligations specified in this Section 10.01 and the rights, powers,
trusts, duties and immunities of the Trustee hereunder and the Company’s obligations in connection therewith). 
 Section 10.02
Application of Trust Money. 
 Subject to the provisions of Section 8.06 hereof, all money deposited with the
Trustee pursuant to Section 10.01 hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes with respect to which such deposit was made and this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee;
but such money need not be segregated from other funds except to the extent required by law. 
 If the Trustee or Paying Agent is unable to
apply any money or Government Securities in accordance with Section 10.01 hereof by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, the Company’s and any applicable guarantor’s obligations under this Indenture and the applicable Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 10.01 hereof; provided
that if the Company has made any payment of principal of, premium, if any, or interest on, any Notes because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment
from the money or Government Securities held by the Trustee or Paying Agent. 
 ARTICLE 11 

MISCELLANEOUS 

Section 11.01 Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA § 318(c), the imposed duties will
control. 
 Section 11.02 Notices. 

Any notice or communication by the Company or the Trustee to the others is duly given if in writing and delivered in Person or by first class
mail (registered or certified, return receipt requested), facsimile or electronic transmission or overnight air courier guaranteeing next day delivery, to the others’ address: 

If to the Company: 
 Conagra
Brands, Inc. 
 222 W. Merchandise Mart Plaza, Suite 1300 

Chicago, Illinois 60654 

Attention: Corporate Secretary 

Email: IR@conagra.com 
 Telephone
No.: (312) 549-9000 

  
 32 

	
	 With a copy (which shall be deemed to be an accommodation and not a condition of effectiveness of any notice or
communication given to the Company) to:

	
	 Jones Day 
North Point

901 Lakeside Avenue

Cleveland, Ohio 44114 
Attention: Michael J. Solecki, Esq.

Email: mjsolecki@jonesday.com

Telephone No.: (216) 586-7103 

	
	 If to the Trustee:

	
	 U.S. Bank National Association 
190 S. LaSalle Street 10th
Floor
 Chicago, IL 60603 
Attention: Global Corporate Trust Administration

Email: linda.garcia@usbank.com

Telephone No.: (312) 332-6781 

 The Company or the Trustee, by notice to the others, may designate additional or different addresses for
subsequent notices or communications. 
 All notices and communications (other than those sent to Holders) will be deemed to have been duly
given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if delivered by facsimile or electronic transmission; and the next Business
Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 
 Anything contained herein to
the contrary notwithstanding, no notice or communication to the Trustee shall be effective unless actually received by the Trustee at its Corporate Trust Office by a Responsible Officer of the Trustee. 

Any notice or communication to a Holder will be mailed by first class mail, certified or registered, return receipt requested, or by overnight
air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar or, in the case of Global Notes, pursuant to the Applicable Procedures. Any notice or communication will also be so mailed to any Person described
in TIA § 313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other Holders. Notwithstanding any other provision of this
Indenture or any Global Note, where this Indenture or any Global Note provides for notice of any event (including any notice of redemption or repurchase) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently
given if given to the Depositary (or its designee) pursuant to the Applicable Procedures, including by electronic mail in accordance with the standing instructions from the Depositary. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee
receives it. 
 If the Company mails a notice or communication to Holders, it will mail a copy to the Trustee and each Agent at the same
time. 
 The Trustee agrees to accept and act upon notices, instructions, directions or other communications (each, a
“Notice”) pursuant to this Indenture sent by way of a pdf or other replicating image attached to an unsecured e-mail, secure electronic transmission containing applicable authorization codes,
passwords and/or authentication keys issued by the Trustee or another electronic method or system specified by the Trustee as available for use in connection with its services hereunder (collectively, “Electronic Means”);
provided, however, that such party 

  
 33 

 
providing Notices to the Trustee by Electronic Means shall provide to the Trustee an incumbency certificate listing designated persons authorized to provide such Notices, which incumbency
certificate shall be amended whenever a person is to be added or deleted from the listing. If the party elects to give the Trustee Notice by Electronic Means and the Trustee in its discretion elects to act upon such Notice, the Trustee’s
understanding of such Notice 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 any Notice delivered by Electronic
Means notwithstanding such Notice conflicts or is inconsistent with a subsequent written Notice delivered by other means. The Trustee shall not have any duty to confirm that the person sending any Notice by Electronic Means is, in fact, a person
authorized to do so. All Notices to the Trustee hereunder must be in writing in English and must be in the form of a document that is signed manually or by way of an electronic signature (including electronic images of handwritten signatures and
digital signatures provided by DocuSign, Orbit, Adobe Sign or any other electronic signature provider acceptable to the Trustee). Electronic signatures reasonably believed by the Trustee to comply with the ESIGN Act of 2000 or other applicable law
shall be deemed original signatures for all purposes. Each other party assumes all risks arising out of the use of electronic signatures and Electronic Means to send Notices to the Trustee, including without limitation the risk of the Trustee acting
on an unauthorized Notice, and the risk of interception or misuse by third parties. Notwithstanding the foregoing, the Trustee may in any instance and in its sole discretion require that an original document bearing a manual signature be delivered
to the Trustee in lieu of, or in addition to, any such Notice. 
 Section 11.03 Communication by Holders of Notes with
Other Holders of Notes. 
 Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their
rights under this Indenture or the Notes. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 

Section 11.04 Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the
Trustee: 
 (1) an Officer’s Certificate stating that, in the opinion of the signers (who may rely upon an Opinion of
Counsel as to matters of law), all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(2) an Opinion of Counsel stating that, in the opinion of such counsel (who may rely upon an Officer’s Certificate as to
matters of fact), all such conditions precedent have been complied with. 
 Section 11.05 Statements Required in
Certificate or Opinion. 
 Each certificate or opinion with respect to compliance with a condition or covenant provided for in
this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) must comply with the provisions of TIA § 314(e) and must include: 

(1) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(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 such Person, such Person has
made such examination or investigation as is necessary to enable such Person 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 or not, in the opinion of such Person, such condition or covenant has been complied with. 

  
 34 

 Section 11.06 Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set
reasonable requirements for its functions. 
 Section 11.07 Calculation of Foreign Currency Amounts. 

The calculation of the U.S. dollar equivalent amount for any amount denominated in a foreign currency shall be the noon buying rate in the City
of New York as certified by the Federal Reserve Bank of New York on the date on which such determination is required to be made or, if such day is not a day on which such rate is published, the rate most recently published prior to such day. 

Section 11.08 No Personal Liability of Directors, Officers, Employees and Shareholders. 

No past, present or future director, officer, employee, incorporator or shareholder of the Company, as such, will have any liability for any
obligations of the Company under the Notes, this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and
release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. 

Section 11.09 Governing Law; Submission to Jurisdiction. 

THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES, AND THE GUARANTEES, IF ANY, WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

The Company agrees that any legal action or proceeding with respect to or arising out of this Indenture may be brought in or removed to the
courts of the State of New York or of the United States of America, in each case located in the Borough of Manhattan, The City of New York. By execution and delivery of this Indenture, each of the Company and each guarantor, if any, accepts, for
itself and in respect of its property, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts. Each of the Company and each guarantor, if any, irrevocably consents to the service
of process out of any of the aforementioned courts in any manner permitted by law. Nothing herein shall affect the right of any party to bring legal action or proceedings in any other competent jurisdiction. The Company and each guarantor, if any,
hereby waives any right to stay or dismiss any action or proceeding under or in connection with this Indenture brought before the foregoing courts on the basis of forum non-conveniens. 

Section 11.10 No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other
Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 11.11
Successors. 
 All agreements of the Company in this Indenture and the Notes will bind its successors. All
agreements of the Trustee in this Indenture will bind its successors. 
 Section 11.12 Severability. 

In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions will not in any way be affected or impaired thereby. 

  
 35 

 Section 11.13 Counterpart Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent the same
agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original
Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

Section 11.14 Table of Contents, Headings, etc. 

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

Section 11.15 Waiver of Jury Trial. 

EACH OF THE COMPANY, GUARANTOR, IF ANY, THE TRUSTEE, AND EACH HOLDER OF A NOTE BY ITS ACCEPTANCE THEREOF, HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 11.16 Patriot Act Compliance. 

The parties hereto acknowledge that in accordance with Section 326 of the USA Patriot Act the Trustee, like all financial institutions and
in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account, which information includes
the name, address, tax identification number and formation documents and other information that will allow Trustee to identify the person or legal entity in accordance with the USA Patriot Act. The parties to this Agreement agree that they will
provide the Trustee with such information in order for the Trustee to satisfy the requirements of the USA Patriot Act. 
 [Signatures on
following page] 

  
 36 

 SIGNATURES 

Dated as of August 12, 2021 
  

			
	CONAGRA BRANDS, INC.
		
	By:	 	/s/ Alexander Jacobs
		 	Name: Alexander Jacobs
		 	Title:   Vice President and Treasurer

  
 [Signature Page to
Indenture] 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	/s/ Linda Garcia
		 	Name: Linda Garcia
		 	Title:   Vice President

  
 [Signature Page to
Indenture]

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