Document:

Indenture

 Exhibit 4.22 

NEW COMMUNICATIONS HOLDINGS INC. 

and 

THE BANK OF NEW YORK MELLON, 

as Trustee 
  

 
 INDENTURE

 DATED AS OF APRIL 12, 2010 

 
  

7.875% Senior Notes due 2015 

8.250% Senior Notes due 2017 

8.500% Senior Notes due 2020 

8.750% Senior Notes due 2022 

 TABLE OF CONTENTS 

 

					
	 	 	 	  	Page
			
	ARTICLE 1.	 	DEFINITIONS AND INCORPORATION BY REFERENCE	  	1
	 Section 1.01.
	 	 Definitions
	  	1
	 Section 1.02.
	 	 Other Definitions
	  	14
	 Section 1.03.
	 	 Incorporation by Reference of TIA
	  	15
	 Section 1.04.
	 	 Rules of Construction
	  	16
			
	ARTICLE 2.	 	THE NOTES	  	16
	 Section 2.01.
	 	 Form and Dating
	  	16
	 Section 2.02.
	 	 Execution and Authentication
	  	20
	 Section 2.03.
	 	 Registrar and Paying Agent
	  	21
	 Section 2.04.
	 	 Paying Agent to Hold Money in Trust
	  	21
	 Section 2.05.
	 	 Holder Lists
	  	22
	 Section 2.06.
	 	 Transfer and Exchange
	  	22
	 Section 2.07.
	 	 Replacement Notes
	  	36
	 Section 2.08.
	 	 Outstanding Notes
	  	37
	 Section 2.09.
	 	 Treasury Notes
	  	37
	 Section 2.10.
	 	 Temporary Notes
	  	38
	 Section 2.11.
	 	 Cancellation
	  	38
	 Section 2.12.
	 	 Payment of Interest; Defaulted Interest
	  	38
	 Section 2.13.
	 	 CUSIP or ISIN Numbers
	  	38
	 Section 2.14.
	 	 Special Interest
	  	39
	 Section 2.15.
	 	 Issuance of Additional Notes
	  	39
	 Section 2.16.
	 	 Record Date
	  	40
			
	ARTICLE 3.	 	REDEMPTION AND PREPAYMENT	  	40
	 Section 3.01.
	 	 Applicability of Article
	  	40
	 Section 3.02.
	 	 Optional Redemption
	  	40
	 Section 3.03.
	 	 Special Mandatory Redemption
	  	41
	 Section 3.04.
	 	 Notice of Redemption
	  	41
	 Section 3.05.
	 	 Payment of Notes Called for Redemption
	  	42
	 Section 3.06.
	 	 Exclusion of Certain Securities from Eligibility for Selection for Redemption
	  	43
	 Section 3.07.
	 	 Partial Redemption
	  	43
			
	ARTICLE 4.	 	COVENANTS	  	44
	 Section 4.01.
	 	 Payment of Principal and Interest
	  	44
	 Section 4.02.
	 	 Offices for Notices and Payments, etc
	  	44
	 Section 4.03.
	 	 Appointments to Fill Vacancies in Trustee’s Office
	  	44

  

 i 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	 	 	  	Page
			
	 Section 4.04.
	 	 Provision as to Paying Agent
	  	44
	 Section 4.05.
	 	 Reports by the Issuer
	  	45
	 Section 4.06.
	 	 Limitation on Spinco Indebtedness and Spinco Liens
	  	47
	 Section 4.07.
	 	 Limitation on Subsidiary Indebtedness
	  	48
	 Section 4.08.
	 	 Limitations on Liens
	  	48
	 Section 4.09.
	 	 Repurchase of Notes upon a Change of Control Triggering Event
	  	50
	 Section 4.10.
	 	 Termination of Certain Covenants
	  	51
			
	ARTICLE 5.	 	SUCCESSORS	  	52
	 Section 5.01.
	 	 Issuer following the Merger
	  	52
	 Section 5.02.
	 	 Limitation on Mergers, Consolidations and Sales of Assets
	  	52
	 Section 5.03.
	 	 Successor Corporation To Be Substituted
	  	52
	 Section 5.04.
	 	 Opinion of Counsel To Be Given Trustee
	  	53
			
	ARTICLE 6.	 	DEFAULTS AND REMEDIES	  	53
	 Section 6.01.
	 	 Event of Default Defined; Acceleration of Maturity; Waiver of Default
	  	53
	 Section 6.02.
	 	 Collection of Indebtedness by Trustee; Trustee May Prove Debt
	  	55
	 Section 6.03.
	 	 Application of Proceeds
	  	57
	 Section 6.04.
	 	 Suits for Enforcements
	  	58
	 Section 6.05.
	 	 Restoration of Rights on Abandonment of Proceedings
	  	58
	 Section 6.06.
	 	 Limitation on Suits by Noteholders
	  	58
	 Section 6.07.
	 	 Right of Noteholders To Institute Certain Suits
	  	59
	 Section 6.08.
	 	 Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default
	  	59
	 Section 6.09.
	 	 Control by Holders of Notes
	  	59
	 Section 6.10.
	 	 Waiver of Past Defaults
	  	60
	 Section 6.11.
	 	 Right of Court To Require Filing of Undertaking To Pay Costs
	  	60
			
	ARTICLE 7.	 	TRUSTEE	  	60
	 Section 7.01.
	 	 Duties of Trustee
	  	60
	 Section 7.02.
	 	 Rights of Trustee
	  	62
	 Section 7.03.
	 	 Individual Rights of Trustee
	  	63
	 Section 7.04.
	 	 Trustee’s Disclaimer
	  	64
	 Section 7.05.
	 	 Notice of Defaults
	  	64
	 Section 7.06.
	 	 Reports by Trustee to Holders
	  	64

  

 ii 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	 	 	  	Page
			
	 Section 7.07.
	 	 Compensation and Indemnity
	  	64
	 Section 7.08.
	 	 Replacement of Trustee
	  	66
	 Section 7.09.
	 	 Successor Trustee by Merger, etc
	  	67
	 Section 7.10.
	 	 Eligibility; Disqualification
	  	67
	 Section 7.11.
	 	 Preferential Collection of Claims Against Issuer
	  	68
	 Section 7.12.
	 	 Money Held in Trust
	  	68
			
	ARTICLE 8.	 	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	  	68
	 Section 8.01.
	 	 Option To Effect Legal Defeasance or Covenant Defeasance
	  	68
	 Section 8.02.
	 	 Legal Defeasance and Discharge
	  	68
	 Section 8.03.
	 	 Covenant Defeasance
	  	69
	 Section 8.04.
	 	 Conditions to Legal or Covenant Defeasance
	  	69
	 Section 8.05.
	 	 Deposited Money and Government Securities To Be Held in Trust; Other Miscellaneous Provisions
	  	71
	 Section 8.06.
	 	 Repayment to Issuer
	  	71
	 Section 8.07.
	 	 Reinstatement
	  	72
	 Section 8.08.
	 	 Survival
	  	72
			
	ARTICLE 9.	 	SUPPLEMENTAL INDENTURES	  	72
	 Section 9.01.
	 	 Supplemental Indentures Without Consent of Noteholders
	  	72
	 Section 9.02.
	 	 Supplemental Indentures with Consent of Noteholders
	  	74
	 Section 9.03.
	 	 Effect of Supplemental Indenture
	  	75
	 Section 9.04.
	 	 Documents To Be Given to Trustee
	  	75
	 Section 9.05.
	 	 Notation on Securities in Respect of Supplemental Indentures
	  	75
	 Section 9.06.
	 	 Conformity with the TIA
	  	75
			
	ARTICLE 10.	 	SATISFACTION AND DISCHARGE	  	75
	 Section 10.01.
	 	 Satisfaction and Discharge
	  	75
	 Section 10.02.
	 	 Deposited Cash and U.S. Government Securities To Be Held in Trust; Other Miscellaneous Provisions
	  	76
	 Section 10.03.
	 	 Repayment to Issuer
	  	77
			
	ARTICLE 11.	 	MISCELLANEOUS	  	77
	 Section 11.01.
	 	 TIA Controls
	  	77
	 Section 11.02.
	 	 Notices
	  	77
	 Section 11.03.
	 	 Communication by Holders of Notes with Other Holders of Notes
	  	80

  

 iii 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	 	 	  	Page
			
	 Section 11.04.
	 	 Certificate and Opinion as to Conditions Precedent
	  	80
	 Section 11.05.
	 	 Statements Required in Certificate or Opinion
	  	80
	 Section 11.06.
	 	 Form of Documents Delivered to Trustee
	  	80
	 Section 11.07.
	 	 Acts of Holders
	  	81
	 Section 11.08.
	 	 Rules by Trustee and Agents
	  	82
	 Section 11.09.
	 	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	82
	 Section 11.10.
	 	 Governing Law; Waiver of Jury Trial
	  	82
	 Section 11.11.
	 	 No Adverse Interpretation of Other Agreements
	  	82
	 Section 11.12.
	 	 Notes in a Specified Currency Other than Dollars
	  	82
	 Section 11.13.
	 	 Successors
	  	83
	 Section 11.14.
	 	 Severability
	  	83
	 Section 11.15.
	 	 Counterpart Originals
	  	83
	 Section 11.16.
	 	 Table of Contents, Headings, etc
	  	83
	 Section 11.17.
	 	 Qualification of this Indenture
	  	83
	 Section 11.18.
	 	 Issuer-Owned Notes Disregarded
	  	83

  

 iv 

 CROSS-REFERENCE TABLE 

 

			
	 TIA Section

Reference
	  	Indenture
Section
		
	310(a)(1)	  	7.10
	(a)(2)	  	7.10
	(a)(3)	  	N.A.
	(a)(4)	  	N.A.
	(a)(5)	  	7.10
	(b)	  	7.08, 7.10
	(c)	  	N.A.
	311(a)	  	7.11
	(b)	  	7.11
	(c)	  	N.A.
	312(a)	  	2.05
	(b)	  	11.03
	(c)	  	11.03
	313(a)	  	7.06
	(b)(1)	  	N.A.
	(b)(2)	  	7.06
	(c)	  	7.06
	(d)	  	7.06
	314(a)	  	4.05
	(b)	  	N.A.
	(c)(1)	  	11.04
	(c)(2)	  	11.04
	(c)(3)	  	N.A.
	(d)	  	N.A.
	(e)	  	11.05
	315(a)	  	7.01
	(b)	  	7.05, 11.02
	(c)	  	7.01
	(d)	  	7.01
	(e)	  	6.11
	316(a) (last sentence)	  	11.18
	(a)(1)(A)	  	6.09
	(a)(1)(B)	  	6.10
	(a)(2)	  	N.A.
	(b)	  	6.07
	317(a)(1)	  	6.02
	(a)(2)	  	6.02
	(b)	  	4.04
	318(a)	  	11.02

 N.A. means Not Applicable. 

Note: This Cross-Reference Table shall not, for any purpose, be deemed to be part of this Indenture. 

 

 v 

 This INDENTURE, dated as of April 12, 2010, is by and between New Communications
Holdings Inc., a Delaware corporation, and The Bank of New York Mellon, a New York banking corporation, as trustee (the “Trustee”). 

RECITALS OF THE ISSUER 

WHEREAS, the Issuer (as defined herein) desires to provide for the establishment of the following series of its securities under this
Indenture: 7.875% Senior Notes due 2015, 8.250% Senior Notes due 2017, 8.500% Senior Notes due 2020 and 8.750% Senior Notes due 2022; 

NOW, THEREFORE, in consideration of the covenants and agreements set forth herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Issuer and the Trustee mutually covenant and agree as follows: 

ARTICLE 1. 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions. For all purposes of this Indenture, except as otherwise expressly provided or unless
the context otherwise requires, the terms defined in this Section 1.01 shall have the respective meanings specified in this Section 1.01. Except as otherwise expressly provided or unless the context otherwise requires, all other terms used
in this Indenture which are defined in the TIA (as defined below) shall have the meanings assigned to such terms in the TIA. 

“144A Global Note” means a Global Note substantially in the form of any of Exhibit A, C, E or
G hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination or denominations equal to the aggregate
outstanding principal amount of the Notes of a particular series sold in reliance on Rule 144A. 

“Acquired Indebtedness” means Indebtedness of a Person existing at the time such Person becomes a
Subsidiary of the Issuer or Indebtedness of a Subsidiary of the Issuer assumed in connection with an Asset Acquisition by such Subsidiary; provided such Indebtedness was not Incurred in connection with or in contemplation of such Person
becoming a Subsidiary or such Asset Acquisition. 
 “Adjusted Treasury Rate” means, with
respect to any redemption date: 
 (a) the yield, under the heading which represents the average for the immediately preceding
week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on
actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before
or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight
line basis, rounding to the nearest month); or 

 (b) if such release (or any successor release) is not published during the week preceding
the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of
its principal amount) equal to the Comparable Treasury Price for such redemption date. 
 The Adjusted Treasury Rate shall be
calculated on the third Business Day preceding the redemption date. 
 “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 the purposes of this definition, “control” when used with respect to any
specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. 
 “Agent” means, with
respect to any series of Notes, any Registrar, co-registrar, Paying Agent or additional paying agent. 

“Applicable Procedures” means, with respect to any transfer, redemption or exchange of or for
beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer, redemption or exchange. 

“Asset Acquisition” means (1) an investment by the Issuer or any of its Subsidiaries in any
other Person pursuant to which such Person shall become a Subsidiary or shall be merged into or consolidated with the Issuer or any of its Subsidiaries; or (2) an acquisition by the Issuer or any of its Subsidiaries of the property and assets
of any Person other than the Issuer or any of its Subsidiaries that constitute substantially all of a division, operating unit or line of business of such Person. 

“Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors, or the
law of any other jurisdiction related to bankruptcy, insolvency, winding up, liquidation, reorganization or relief of debtors. 

“Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5
under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” as such term is used in Section 13(d)(3) of the Exchange Act, such “person” will be deemed to have beneficial ownership
of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition. 

“Board of Directors” means either the Board of Directors of the Issuer or any committee of such
Board duly authorized to act on its behalf. 
  

 2 

 “Board Resolution” means one or more resolutions,
certified by the secretary or an assistant secretary of the Issuer to have been duly adopted or consented to by the Board of Directors and to be in full force and effect, and delivered to the Trustee. 

“Business Day” means a day that (a) in the Place of Payment (or in any of the Places of
Payment, if more than one) in which amounts are payable and (b) in the city in which the Corporate Trust Office is located, is not a Saturday or Sunday or a day on which banking institutions are authorized or required by law or regulation to
close. 
 “Capital Lease Obligations” means Indebtedness represented by obligations under
a lease that is required to be capitalized for financial reporting purposes in accordance with GAAP. The amount of Indebtedness shall be the capitalized amount of the obligations determined in accordance with GAAP consistently applied. 

“Capital Stock” means, with respect to any entity, any and all shares, interests, participations or
other equivalents (however designated) of or in such entity’s Common Stock or other equity interests, and options, rights or warrants to purchase such Common Stock or other equity interests, whether now outstanding or issued after the Issue
Date. 
 “Change of Control” means the occurrence, after the effective time of the Merger,
of any of the following: 
 (a) the adoption of a plan relating to the liquidation or dissolution of the Issuer; 

(b) any “person,” as such term is used in Section 13(d)(3) of the Exchange Act, becomes the Beneficial Owner, directly or
indirectly, of more than 50% of the voting power of the Voting Stock of the Issuer; provided that a transaction in which the Issuer becomes a Subsidiary of another Person shall not constitute a Change of Control if (a) the stockholders
of the Issuer immediately prior to such transaction Beneficially Own, directly or indirectly through one or more intermediaries, 50% or more of the voting power of the outstanding Voting Stock of such other Person of whom the Issuer is then a
Subsidiary and (b) immediately following such transaction no person (as defined above) other than such other Person, Beneficially Owns, directly or indirectly, more than 50% of the voting power of the Voting Stock of the Issuer; or 

(c) the first day on which a majority of the members of the Board of Directors of the Issuer are not Continuing Directors. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Ratings
Decline. 
 “Clearstream” means Clearstream Banking S.A. and any successor thereto.

 “Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Commission” means the Securities and Exchange Commission. 

“Commodity Agreement” means any forward contract, commodity swap agreement, commodity option
agreement or other similar agreement or arrangement. 
  

 3 

 “Common Stock” means: 

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

(b) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock; 
 (c) in the case of a partnership or limited liability company, partnership or membership
interests (whether general or limited); and 
 (d) 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. 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent
Investment Banker as having a maturity comparable to the remaining term of the applicable series of Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of such series of Notes (“Remaining Life”). 

“Comparable Treasury Price” means, for any redemption date, (1) the average of four Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the
average of all such quotations. 
 “Continuing Director” means, as of any date of
determination, any member of the Board of Directors of the Issuer who: 
 (a) was a member of such Board of Directors as of the
effective time of and after giving effect to the Merger; or 
 (b) was nominated for election or elected to such Board of
Directors with the approval of a majority of the Continuing Directors who were members of such Board at the time of such nomination or election. 

“Contribution” means, pursuant to a series of restructuring transactions prior to the Spin-Off
entered into pursuant to the Distribution Agreement, dated as of May 13, 2009, between Verizon and Spinco (as amended, the “Distribution Agreement”), the contribution by Verizon to the Issuer and its subsidiaries of
defined assets and liabilities of the local exchange business and related landline activities of Verizon in the Spinco Territory, including Internet access and long distance services and broadband video provided to designated customers in the Spinco
Territory. 
 “Corporate Trust Office” means the office of the Trustee, at any particular
time, at which its corporate trust business shall be principally administered, which office is, at the date as of which this Indenture is dated, located at 101 Barclay Street, Floor 8 West, New York, New York 10286, Attention: Corporate
Trust Division—Corporate Finance Unit, or such other address as the Trustee may designate from time to time by notice to the Issuer, or the principal corporate trust office of any successor Trustee (or such other address as such successor
Trustee may designate from time to time by notice to the Issuer). 
  

 4 

 “Credit Facilities” means one or more debt facilities
or commercial paper facilities, in each case with banks or other lenders, including the Rural Telephone Finance Cooperative, providing for revolving credit loans, term loans, receivables financings, including through the sale of receivables to such
lenders or to special purpose entities formed to borrow from such lenders against such receivables, letters of credit or other borrowings, including capital markets debt, in each case, as amended, restated, modified, renewed, refunded, replaced or
refinanced in whole or in part from time to time. 
 “Currency Agreement” means any
foreign exchange contract, currency swap agreement or other similar agreement or arrangement. 

“Default” means any event that is, or after notice or passage of time or both would be, an Event of
Default. 
 “Definitive Note” means a certificated Note registered in the name of the
Holder thereof and issued in accordance with Section 2.06 or 2.10 hereof, in substantially the form of any of Exhibit A, B, C, D, E, F, G or H hereto except that such Note shall not bear the Global Note Legend and shall not have the
“Schedule of Exchanges of Interests in the Global Note” attached thereto. 

“Depositary” means, with respect to the Notes of any series issuable or issued in whole or in part
in global form, The Depository Trust Company (unless another Person is specified in a supplemental indenture with respect to any series of Notes) and, in any event, any and all successors thereto appointed as depositary with respect to any series of
Notes and having become such pursuant to the applicable provisions of this Indenture. 
 “Designated
Subsidiary” means any Subsidiary of the Issuer (a) the Capital Stock of which the Issuer intends to distribute to its shareholders or (b) the assets or Capital Stock of which the Issuer intends to sell or otherwise
dispose of to any Person other than the Issuer or any of its Subsidiaries, in each case, as evidenced by a Board Resolution. 

“Disqualified Stock” means, with respect to any series of Notes, any class or series of Capital
Stock of any Person that by its terms or otherwise is (1) required to be redeemed prior to the Stated Maturity of such series of Notes, (2) redeemable at the option of the holder of such class or series of Capital Stock at any time prior
to the Stated Maturity of such series of Notes or (3) convertible into or exchangeable for Capital Stock referred to in clause (1) or (2) above or Indebtedness having a scheduled maturity prior to the Stated Maturity of such series of
Notes. 
 “Distribution” means, after the Contribution and immediately prior to the Merger, the
distribution by Verizon of all of the shares of the Issuer’s common stock to a third-party distribution agent to be held collectively for the benefit of Verizon stockholders. 

“Distribution Compliance Period” means the 40-day distribution compliance period as defined in Regulation S,
which period will begin on the Issue Date and end 40 days after the Issue Date. 
  

 5 

 “Distribution Date Indebtedness” means the aggregate
amount of pre-existing long-term indebtedness to third parties (which may include current maturities) of Verizon subsidiaries that conduct the Spinco Business that will become the consolidated indebtedness of the Issuer as a result of the Spin-Off.

 “Escrow Agent” means The Bank of New York Mellon, in its capacity as the escrow agent
under the Escrow Agreement. 
 “Escrow Agreement” means the escrow agreement, made and
entered into as of April 12, 2010, by and among Spinco, Frontier, the Trustee, the Escrow Agent and J.P. Morgan Securities Inc., as the representative of the initial purchasers listed in Schedule 1 to the Purchase Agreement. 

“Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear System, and any successor
thereto. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 “Exchange Notes” means the Notes issued in the Exchange Offer. 

“Exchange Offer” has the meaning set forth in the Registration Rights Agreement relating to the
applicable series of Notes. 
 “Exchange Offer Registration Statement” has the meaning set
forth in the Registration Rights Agreement relating to the applicable series of Notes. 
 “Fair Market
Value” means the price that would be paid in an arm’s length transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to buy, as determined in good
faith by the Board of Directors, whose determination, unless otherwise specified, shall be conclusive if evidenced by a Board Resolution. 

“Frontier” means Frontier Communications Corporation, a Delaware corporation. 

“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 in the 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, as in effect from time to time. All ratios and computations contained or referred to in this Indenture shall be computed in conformity with GAAP applied on a consistent basis. 

“Global Note” means, with respect to any series of Notes, a Note of such series issued in global
form that evidences all or part of the Notes of such series and bears the Global Note Legend (and, if applicable, such legend as may be specified as contemplated by Section 2.06(g)(i) for such series of Notes). 

“Global Note Legend” means the legend set forth in Section 2.06(g)(ii). 

 

 6 

 “Guarantee” means any obligation, contingent or
otherwise, of any Person directly or indirectly guaranteeing any Indebtedness of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (1) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services
(unless such purchase arrangements are on arm’s-length terms and are entered into in the ordinary course of business), to take-or-pay, or to maintain financial statement conditions or otherwise) or (2) entered into for purposes of assuring
in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided that the term “Guarantee” shall not include endorsements for
collection or deposit in the ordinary course of business. The term “Guarantee” used as a verb and the term “Guaranteed” used as a modifier have corresponding meanings. 

“Holder,” “Holder of Notes,”
“Noteholder” or other similar terms mean the Person in whose name a Note is registered in the Security Register kept by the Registrar for that purpose in accordance with the terms hereof. 

“Incur” means, with respect to any Indebtedness, to incur, create, issue, assume, Guarantee or
otherwise become liable for or with respect to, or become responsible for, the payment of, contingently or otherwise, such Indebtedness; provided that (1) any Indebtedness of a Person existing at the time such Person becomes a Subsidiary
shall be deemed to be incurred by such Subsidiary at the time it becomes a Subsidiary and (2) neither the accrual of interest nor the accretion or amortization of original issue discount nor the payment of interest or dividend in the form of
additional Indebtedness shall be considered an Incurrence of Indebtedness. 

“Indebtedness” means, with respect to any Person at any date of determination (without
duplication): 
 (a) all indebtedness of such Person for borrowed money; 

(b) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments; 

(c) all obligations of such Person in respect of letters of credit or other similar instruments (including reimbursement obligations with
respect thereto, but excluding obligations with respect to letters of credit (including trade letters of credit) securing obligations entered into in the ordinary course of business of such Person to the extent such letters of credit are not drawn
upon or, if drawn upon, to the extent such drawing is reimbursed no later than the fifth Business Day following receipt by such Person of a demand for reimbursement); 

(d) all obligations of such Person to pay the deferred and unpaid purchase price of property or services, which purchase price is due
more than one year after the date of placing such property in service or taking delivery and title thereto or the completion of such services, except Trade Payables; 

(e) all Capital Lease Obligations of such Person; 

 

 7 

 (f) all Indebtedness of other Persons secured by a Lien on any asset of such Person, whether
or not such Indebtedness is assumed by such Person; provided that the amount of such Indebtedness shall be the lesser of (A) the Fair Market Value of such asset at such date of determination and (B) the amount of such Indebtedness;

 (g) all Indebtedness of other Persons Guaranteed by such Person to the extent such Indebtedness is Guaranteed by such Person;

 (h) to the extent not otherwise included in this definition, obligations under Interest Rate Agreements, Commodity Agreements
and Currency Agreements, except for Interest Rate Agreements, Commodity Agreements and Currency Agreements entered into for the purpose of fixing, hedging or swapping interest rate, commodity price or foreign currency exchange rate risk; and

 (i) all Disqualified Stock issued by such Person with the amount of Indebtedness represented by such Disqualified Stock being
equal to the greater of its voluntary or involuntary liquidation preference and its maximum fixed repurchase price, but excluding accrued dividends, if any. 

The amount of Indebtedness of any Person at any date shall be the outstanding balance at such date of all unconditional obligations as
described above and, with respect to contingent obligations, the maximum liability upon the occurrence of the contingency giving rise to the obligation, provided: 

(1) that the amount outstanding at any time of any Indebtedness issued with original issue discount is the face amount of such
Indebtedness less the remaining unamortized portion of the original issue discount of such Indebtedness at such time as determined in conformity with GAAP; 

(2) that money borrowed and set aside at the time of the Incurrence of any Indebtedness in order to prefund the payment of the interest
on such Indebtedness shall not be deemed to be “Indebtedness” so long as such money is held to secure the payment of such interest; and 

(3) that Indebtedness shall not include: 

(A) any liability for federal, state, local or other taxes; 

(B) workers’ compensation claims, self-insurance obligations, performance, surety, appeal and similar bonds and completion
guarantees provided in the ordinary course of business; 
 (C) obligations arising from the honoring by a bank or other
financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business, provided that such Indebtedness is extinguished within two business days of its Incurrence; or 

(D) any Indebtedness defeased or called for redemption. 
  

 8 

 “Indenture” means this instrument, as originally
executed or as it may from time to time be supplemented or amended in accordance with Article 9 hereof. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the
Issuer. 
 “Indirect Participant” means a Person who holds a beneficial interest in a
Global Note through a Participant. 
 “Interest Payment Dates” shall have the meaning set
forth on the face of each Note. 
 “Interest Rate Agreement” means any interest rate
protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement, option or future contract or other
similar agreement or arrangement. 
 “Issue Date” means April 12, 2010. 

“Issuer” means Spinco prior to the consummation of the Merger and Frontier, as the surviving
corporation, following the consummation of the Merger. 
 “Issuer Request” and
“Issuer Order” mean, respectively, a written request, order or consent signed in the name of the Issuer by its Chairman of the Board of Directors, Chief Executive Officer, President, Chief Financial Officer or
any Vice President, and by its Treasurer, any Assistant Treasurer, Controller, any Assistant Controller, Secretary or any Assistant Secretary, delivered to the Trustee. 

“Letter of Transmittal” means the letter of transmittal, or its electronic equivalent in accordance
with the Applicable Procedures, to be prepared by the Issuer and sent to all Holders of the Notes for use by such Holders in connection with an Exchange Offer. 

“Lien” means, with respect to any property or assets, including Capital Stock, any mortgage or deed
of trust, pledge, lien, hypothecation, assignment, deposit arrangement, security interest, charge, easement or zoning restriction that materially impairs usefulness or marketability, encumbrance, security agreement, Capital Lease Obligation,
conditional sale, any other agreement that has the same economic effect as any of the above, or any sale and leaseback transaction. 

“Merger” means the merger, pursuant to the Merger Agreement, of Spinco with and into Frontier, with
Frontier continuing as the surviving corporation conducting the combined business of Frontier and Spinco. 

“Merger Agreement” means the Agreement and Plan of Merger dated as of May 13, 2009 by and
among Verizon, Spinco and Frontier, as amended from time to time. 
 “Moody’s” means
Moody’s Investor Services, Inc. or any successor rating agency. 
  

 9 

 “Note” or
“Notes” means a note or notes, as the case may be, of each series authenticated and delivered under this Indenture, which includes the 7.875% Senior Notes due 2015, the 8.250% Senior Notes due 2017, the 8.500%
Senior Notes due 2020 and the 8.750% Senior Notes due 2022. 
 “Officer” means, with
respect to any Person, the Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief Financial Officer or any Vice President, the Treasurer, any Assistant Treasurer, the Controller, any Assistant Controller, the
Secretary or any Assistant Secretary of such Person. 
 “Officers’ Certificate”
means, with respect to any Person, a certificate signed by the Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief Financial Officer or any Vice President and by the Treasurer, any Assistant Treasurer, the
Controller, any Assistant Controller, the Secretary or any Assistant Secretary of such Person. 
 “Offshore
Transaction” has the meaning assigned to such term in Regulation S. 
 “Opinion of
Counsel” means a written opinion from legal counsel, who may be an employee of or counsel to the Issuer, and who is acceptable to the Trustee. 

“Outstanding,” when used with reference to the Notes, shall, subject to the provisions of
Section 11.18 hereof, mean, as of any particular time, all of the Notes considered to be outstanding under Section 2.08 hereof. 

“Overdue Rate” means, with respect to each series of Notes, the rate of interest designated as such in this
Indenture relating to such series of Notes or if no such rate is specified, the rate at which such series of Notes shall bear interest. 

“Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an
account with the Depositary, Euroclear or Clearstream, respectively, and, with respect to the Depositary, shall include Euroclear and Clearstream. 

“Permitted Amount” means, at any time, the sum of (a) 10% of the value of the consolidated
total assets of the Issuer and (b) 20% of the sum of the total consolidated current assets and net property, plant and equipment of the Issuer, in each case, as shown on, or computed from, the most recent quarterly or annual consolidated
balance sheet filed by the Issuer with the Commission or provided to the Trustee. 

“Person” means any individual, corporation, limited liability company, partnership, joint venture,
association, joint stock company, trust, estate, unincorporated organization or government or any agency or political subdivision thereof or any other entity. 

“Place of Payment,” when used with respect to the Notes of any series, means the place or places
where the principal of and interest, if any, on the Notes of such series are payable as determined in accordance with the Indenture. 
  

 10 

 “Private Placement Legend” means the legend set forth
in Section 2.06(g)(i) hereof to be placed on all Notes issued under this Indenture except as otherwise permitted by the provisions of this Indenture. 

“Purchase Agreement” means the Purchase Agreement, dated March 26, 2010, among Spinco,
Frontier and J.P. Morgan Securities Inc., as representative of the several initial purchasers listed in Schedule 1 thereto. 

“Qualified Institutional Buyer” means a “qualified institutional buyer” as defined in
Rule 144A. 
 “Ratings Agencies” means Moody’s and S&P. 

“Ratings Decline” means the occurrence of the following on, or within 90 days after, the date of
the public notice of the occurrence of a Change of Control or of the intention by the Issuer or any third party to effect a Change of Control (which period shall be extended so long as the rating of the Notes is under publicly announced
consideration for possible downgrade by any of the Ratings Agencies): with respect to a series of Notes (1) in the event that such series of Notes has an Investment Grade Rating by both Ratings Agencies, and such series of Notes ceases to have
an Investment Grade Rating by one or both of the Ratings Agencies, or (2) in any other event, the rating of such series of Notes by either of the Ratings Agencies decreases by one or more gradations (including gradations within ratings
categories as well as between rating categories) or is withdrawn. 
 “Reference Treasury
Dealer” means any of the primary U.S. Government securities dealers in New York City. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and
any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent
Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

“Registration Rights Agreement” means, with respect to each series of Notes, the Registration
Rights Agreement relating to such series of Notes, dated as of April 12, 2010, by and among Frontier and J.P. Morgan Securities Inc., as representative of the several initial purchasers listed in Schedule 1 to the Purchase Agreement.

 “Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Note” means a Regulation S Temporary Global Note or Regulation S Permanent
Global Note, as appropriate. 
 “Regulation S Permanent Global Note” means a permanent
Global Note in the form of any of Exhibit B, D, F or H hereto bearing the Global Note Legend and the Private Placement Legend and deposited with and registered in the name of the Depositary or its nominee that will be issued in a denomination equal
to the outstanding principal amount of the Regulation S Temporary Global Note upon expiration of the Distribution Compliance Period. 
  

 11 

 “Regulation S Temporary Global Note” means a temporary
Global Note in the form of any of Exhibit B, D, F or H hereto bearing the Global Note Legend, the Private Placement Legend and Regulation S Temporary Global Note Legend and deposited with and registered in the name of the Depositary or its nominee,
issued in a denomination equal to the outstanding principal amount of the Notes sold for initial resale in reliance on Rule 903 of Regulation S. 

“Regulation S Temporary Global Note Legend” means the legend set forth in
Section 2.06(g)(iii). 
 “Responsible Officer,” when used with respect to the Trustee
of a series of Notes, means any officer assigned to the Corporate Trust Division—Corporate Finance Unit (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(c)(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. 
 “Restricted
Definitive Note” means one or more Definitive Notes bearing the Private Placement Legend. 

“Restricted Global Notes” means 144A Global Notes and Regulation S Global Notes. 

“Rule 144” means Rule 144 promulgated under the Securities Act. 

“Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

“S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill
Companies, Inc., or any successor rating agency. 
 “Securities Act” means the Securities
Act of 1933, as amended. 
 “Shelf Registration Statement” means the Shelf Registration
Statement as defined in the Registration Rights Agreement relating to the applicable series of Notes. 

“Special Cash Payment” means, in exchange for the Contribution, and immediately prior to the
Spin-Off and the closing of the Merger, the delivery by the Issuer to Verizon of a special cash payment in an amount not to exceed the lesser of (i)(x) $3.333 billion minus (y) the Distribution Date Indebtedness and (ii) Verizon’s
estimate of its tax basis in the Issuer. 
 “Special Interest,” with respect to any series
of Notes, has the meaning set forth in the Registration Rights Agreement relating to such series of Notes, relating to amounts to be paid in the event the Issuer fails to satisfy certain conditions set forth therein. For all purposes of this
Indenture, the term “interest” shall include Special Interest, if any, with respect to the Notes. 
  

 12 

 “Specified Currency” means the currency in which a
Note is denominated, which may include U.S. dollars, any foreign currency or any composite of two or more currencies. 

“Spinco” means New Communications Holdings Inc., a Delaware corporation. 

“Spinco Business” refers to the defined assets and liabilities, which Spinco will hold immediately prior to the
Merger, of the local exchange business and related landline activities of Verizon in the Spinco Territory, including Internet access and long distance services and broadband video provided to designated customers in the Spinco Territory. 

“Spinco Debt Securities” means senior unsecured debt securities of Spinco to be issued to Verizon,
if the total amount of the Special Cash Payment plus the Distribution Date Indebtedness is less than $3.333 billion, in a principal amount equal to such shortfall. 

“Spinco Territory” means Arizona, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio,
Oregon, South Carolina, Washington, West Virginia and Wisconsin and portions of California bordering Arizona, Nevada and Oregon. 

“Spin-Off” means the transaction through which Spinco will be spun-off to Verizon stockholders.

 “Stated Maturity” means, (1) with respect to any debt security, the date specified
in such debt security as the fixed date on which the final installment of principal of such debt security is due and payable and (2) with respect to any scheduled installment of principal of or interest on any debt security, the date specified
in such debt security as the fixed date on which such installment is due and payable. 

“Subsidiary” means, with respect to any Person, any corporation, association or other business
entity of which more than 50% of the voting power of the outstanding Voting Stock is owned, directly or indirectly, by such Person and one or more other Subsidiaries of such Person. 

“TIA” means the Trust Indenture Act of 1939, as amended. 

“Trade Payables” means, with respect to any Person, any accounts payable or any other indebtedness
or monetary obligation to trade creditors created, assumed or guaranteed by such Person or any of its Subsidiaries arising in the ordinary course of business in connection with the acquisition of goods or services. 

“Transactions” means the Spin-Off, the Merger and the related transactions to be effected by
Verizon, Spinco and Frontier. 
 “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 or until a different Trustee shall have been appointed with respect to a
particular series, and thereafter “Trustee” shall mean such successor Trustee or such Trustee with respect to such particular series. 
  

 13 

 “Unrestricted Definitive Notes” means one or more
Definitive Notes that do not and are not required to bear the Private Placement Legend. 
 “Unrestricted
Global Notes” means one or more Global Notes that do not and are not required to bear the Private Placement Legend and are deposited with and registered in the name of the Depositary or its nominee. 

“U.S. Government Securities” means direct obligations (or certificates representing an ownership
interest in such obligations) of the United States of America (including any agency or instrumentality thereof) for the payment of which the full faith and credit of the United States of America is pledged and which are not callable or redeemable at
the issuer’s option. 
 “Verizon” means Verizon Communications Inc., a Delaware
corporation. 
 “Verizon’s Separate Telephone Operations” are comprised of the local exchange
business and related landline activities of Verizon in Arizona, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin, including Internet access and long distance services
and broadband video provided to designated customers in those states. Verizon’s Separate Telephone Operations comprise portions of Verizon California Inc. and Verizon South Inc., and the stock of Contel of the South, Inc., Verizon Northwest
Inc., Verizon North Inc. and Verizon West Virginia Inc. (after the transfer of specific operations, assets and liabilities of Verizon North Inc. and Verizon Northwest Inc.); also included in Verizon’s Separate Telephone Operations are customer
relationships for related long distance services offered by portions of Verizon Long Distance LLC and Verizon Enterprise Solutions LLC and Verizon Online LLC in the Spinco Territory. Verizon’s Separate Telephone Operations exclude all
activities of Verizon Business Global LLC and Cellco Partnership (doing business as Verizon Wireless). 

“Voting Stock” of any Person as of any date means the Capital Stock of such Person that is normally
entitled to vote in the election of the board of directors of such Person. 
 Section 1.02. Other
Definitions. 
  

			
	 Term
	 	 Defined in Section:

	“2015 Notes”	 	2.01(a)
	“2015 Rule 144A Global Note”	 	2.01(d)
	“2015 Regulation S Global Note”	 	2.01(d)
	“2017 Notes”	 	2.01(a)
	“2017 Rule 144A Global Note”	 	2.01(d)
	“2017 Regulation S Global Note”	 	2.01(d)
	“2020 Notes”	 	2.01(a)
	“2020 Rule 144A Global Note”	 	2.01(d)
	“2020 Regulation S Global Note”	 	2.01(d)

  

 14 

			
	 Term
	 	 Defined in Section:

	“2022 Notes”	 	2.01(a)
	“2022 Rule 144A Global Note”	 	2.01(d)
	“2022 Regulation S Global Note”	 	2.01(d)
	“Authentication Order”	 	2.02(d)
	“Change of Control Offer”	 	4.09
	“Change of Control Payment”	 	4.09
	“Change of Control Notice”	 	4.09
	“Change of Control Payment Date”	 	4.09
	 “Covenant Defeasance”

“Custodian”
	 	 8.03

2.01(e)

	 “Distribution Agreement”

“DTC”
 “Event of
Default”
	 	 1.01
 2.03(b)

6.01

	“Legal Defeasance”	 	8.02
	“Investment Grade Rating”	 	4.10
	“losses”	 	7.07
	 “Market Exchange Rate”

“Notice of Default”

“Paying Agent”

“QIB”
 “Redemption
Notice Date”
 “Registrar”
	 	 11.12
 6.01(c)

2.03
 2.06(g)

3.03
 2.03

	“Security Register”	 	2.03
	 “Special Mandatory Redemption”

“Special Mandatory Redemption Date”

“Special Mandatory Redemption Price”
	 	 3.03
 3.03

3.03

	“Spinco Indebtedness”	 	4.06
	“Temporary Note”	 	2.10

 Section 1.03.
Incorporation by Reference of TIA. 
 (a) Whenever this Indenture refers to a provision of the TIA, the
provision is incorporated by reference in and made a part of this Indenture. 
 (b) The following TIA terms used in this
Indenture have the following meanings: 
 “indenture securities” means the Notes;

 “indenture security holder” means a Holder; 

“indenture to be qualified” means this Indenture; 

 

 15 

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

“obligor” on the Notes means the Issuer and any successor obligor upon the Notes. 

Section 1.04. Rules of Construction. 

(a) Unless the context otherwise requires: 
  

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

  

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

 

	 	(iii)	“or” is not exclusive; 

  

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

 

	 	(v)	all references in this instrument to “Articles,” “Exhibits,” “Sections” and other subdivisions are to the designated Articles, Sections
and subdivisions of this instrument as originally executed; 

  

	 	(vi)	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, Exhibit, Section or other subdivision; 

  

	 	(vii)	“including” means “including without limitation;” 

  

	 	(viii)	provisions apply to successive events and transactions; and 

  

	 	(ix)	references to sections of or rules under the Securities Act, the Exchange Act or the TIA shall be deemed to include substitute, replacement or successor sections or
rules adopted by the Commission from time to time thereunder. 

 ARTICLE 2. 

THE NOTES 

Section 2.01. Form and Dating. 

(a) General. There shall be (i) a series of notes designated the “7.875% Senior Notes due 2015” (the
“2015 Notes”), (ii) a series of notes designated the “8.250% Senior Notes due 2017” (the “2017 Notes”), (iii) a series of Notes designated the “8.500% Senior
Notes due 2020” (the “2020 Notes”) and (iv) a series of Notes designated the “8.750% Senior Notes due 2022” (the “2022 Notes”). 

(b) Aggregate Principal Amount; Terms of Notes. (i) The 2015 Notes shall be initially issued in an aggregate principal
amount of $500,000,000, (ii) the 2017 Notes shall be initially issued in an aggregate principal amount of $1,100,000,000, (iii) the 2020 Notes shall be initially issued in an aggregate principal amount of $1,100,000,000 and (iv) the
2022 Notes shall be initially issued in an aggregate principal amount of $500,000,000. The other terms of the respective series of Notes are set forth in Exhibits A, B, C, D, E, F, G and H hereto. 

 

 16 

 (c) Form and Dating. The 2015 Notes shall be substantially in the form of
Exhibits A and B hereto. The 2017 Notes shall be substantially in the form of Exhibits C and D hereto. The 2020 Notes shall be substantially in the form of Exhibits E and F hereto. The 2022 Notes shall be substantially in the form of Exhibits G and
H hereto. The Notes shall be in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture, and the
Issuer and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. The Notes issued on the date hereof (i) have been offered and sold by the Issuer pursuant to the
Purchase Agreement and (ii) will be resold initially only to (A) Persons reasonably believed by an initial purchaser to be Qualified Institutional Buyers in reliance on Rule 144A and (B) Persons other than “U.S. Persons” (as
defined in Rule 902(k) of the Securities Act) in reliance on Regulation S. Such Notes may thereafter be transferred only in accordance with this Indenture. 

(d) Global Notes. Each of the 2015 Notes, the 2017 Notes, the 2020 Notes and the 2022 Notes shall be issued initially in
the form of one or more Global Notes, without interest coupons. The 2015 Notes offered and sold (i) in reliance on Rule 144A shall be issued initially in the form of one or more Global Notes in registered form, substantially in the form set
forth in Exhibit A (the “2015 Rule 144A Global Note”) and (ii) in Offshore Transactions in reliance on Regulation S shall be issued initially in the form of one or more temporary Global Notes in registered form,
substantially in the form set forth in Exhibit B (the “2015 Regulation S Global Note”). The 2017 Notes offered and sold (i) in reliance on Rule 144A shall be issued initially in the form of one or more Global Notes in
registered form, substantially in the form set forth in Exhibit C (the “2017 Rule 144A Global Note”) and (ii) in Offshore Transactions in reliance on Regulation S shall be issued initially in the form of one or more
temporary Global Notes in registered form, substantially in the form set forth in Exhibit D (the “2017 Regulation S Global Note”). The 2020 Notes offered and sold (i) in reliance on Rule 144A shall be issued initially in
the form of one or more Global Notes in registered form, substantially in the form set forth in Exhibit E (the “2020 Rule 144A Global Note”) and (ii) in Offshore Transactions in reliance on Regulation S shall be issued
initially in the form of one or more temporary Global Notes in registered form, substantially in the form set forth in Exhibit F (the “2020 Regulation S Global Note”). The 2022 Notes offered and sold (i) in reliance on
Rule 144A shall be issued initially in the form of one or more Global Notes in registered form, substantially in the form set forth in Exhibit G (the “2022 Rule 144A Global Note”) and (ii) in Offshore Transactions in
reliance on Regulation S shall be issued initially in the form of one or more temporary Global Notes in registered form, substantially in the form set forth in Exhibit H (the “2022 Regulation S Global Note”). The 2015
Regulation S Global Note, the 2017 Regulation S Global Note, the 2020 Regulation S Global Note and the 2022 Regulation S Global Note shall each initially be issued in temporary form, and shall, during the Distribution Compliance Period, bear the
Temporary Regulation S Legend (collectively referred to herein as the “Regulation S Temporary Global Notes”). Each Global Note shall initially represent such aggregate principal amount of the outstanding Notes as shall be
specified therein and each shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to
time 
  

 17 

 
be reduced or increased, as appropriate, to reflect exchanges and redemptions and transfers of interests therein. Any endorsement of a Global Note to reflect the amount of any increase or
decrease in the aggregate principal amount of outstanding Notes represented thereby shall be made by the Trustee or the Depositary, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by
Section 2.06 hereof. 
 (e) Temporary Global Notes. Notes of each series offered and sold in reliance
on Regulation S shall be issued initially in the form of the Regulation S Temporary Global Notes for such series, which shall be deposited on behalf of the purchasers of the Notes represented thereby with the Trustee, at its New York office, as
custodian for the Depositary (the “Custodian”), and registered in the name of the Depositary or the nominee of the Depositary for the accounts of designated agents holding on behalf of Euroclear or Clearstream, duly executed
by the Issuer and authenticated by the Trustee as hereinafter provided. Following the expiration of the Distribution Compliance Period, beneficial interests in the Regulation S Temporary Global Notes of each series shall be exchanged for beneficial
interests in a Regulation S Permanent Global Note for such series pursuant to the Applicable Procedures and without further action required by the Issuer and upon the receipt by the Trustee of a written certificate from the Depositary, together with
copies of certificates from Euroclear and Clearstream certifying that they have received certification of non-United States beneficial ownership of 100% of the aggregate principal amount of the Regulation S Temporary Global Notes of such series
(except to the extent of any beneficial owners thereof who acquired an interest therein during the Distribution Compliance Period pursuant to another exemption from registration under the Securities Act and who will take delivery of a beneficial
ownership interest in a corresponding Global Note, bearing a Private Placement Legend, all as contemplated by Section 2.06(b) hereof). Simultaneously with the exchange of the Regulation S Temporary Global Notes of each series for Regulation S
Permanent Global Notes of such series, the Trustee shall cancel the Regulation S Temporary Global Notes of such series. The aggregate principal amount of the Regulation S Temporary Global Notes of each series and the Regulation S Permanent Global
Notes of such series may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee, as the case may be, in connection with transfers of interests as hereinafter provided.

 (f) Book-Entry Provisions. This Section 2.01(f) shall apply only to Global Notes deposited with the
Trustee, as Custodian. Participants and Indirect Participants shall have no rights under this Indenture or any Global Note with respect to any Global Note held on their behalf by the Depositary or by the Trustee, as Custodian for the Depositary, and
the Depositary shall be treated by the Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the
Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Participants or Indirect Participants, the
Applicable Procedures or the operation of customary practices of the Depositary governing the exercise of the rights of a holder of a beneficial interest in any Global Note. 

None of the Issuer, the Trustee, the Paying Agent or the Registrar shall have any responsibility or obligation to any Participant,
Indirect Participant or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any Participant, with respect to 

 

 18 

 
any ownership interest in the Notes or with respect to the delivery to any Participant or Indirect Participant, beneficial owner or other Person (other than the Depositary) of any notice
(including any notice of redemption) or 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 any Global Notes). The rights of beneficial owners in any Global Note shall be exercised only through the Depositary
subject to the Applicable Procedures. The Issuer, the Trustee, the Paying Agent and the Registrar 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. The Trustee, the Paying Agent and the Registrar 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. None of the Issuer, the Trustee, the Paying Agent or the Registrar 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 Participant or between or among the Depositary, any such Participant and/or Indirect Participant 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 Issuer, the Trustee, or any agent of the
Issuer 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. 

(g) Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear
System” and “Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream” and “Customer Handbook” of Clearstream, and any successor procedures or terms and conditions or
amendments thereto, shall be applicable to transfers of beneficial interests in Global Notes that are held by Participants through Euroclear or Clearstream. 

(h) Certificated Securities. If (i) at any time the Depositary for any Notes of a series represented by one or more
Global Notes notifies the Issuer that it is unwilling or unable to continue as Depositary for such Notes or (ii) if at any time the Depositary for such Notes ceases to be registered as a clearing agency under the Exchange Act, the Issuer shall
appoint a successor Depositary with respect to such Notes. If a successor Depositary for such Notes is not appointed by the Issuer within 90 days after the Issuer receives such notice or becomes aware of such cessation of registration, the
Issuer’s election that such Notes be represented by one or more Global Notes shall no longer be effective and the Issuer shall execute, and the Trustee, upon receipt of an Authentication Order, will authenticate and deliver Notes of such

  

 19 

 
series in definitive registered form, in any authorized denominations, in an aggregate principal amount equal to the principal amount of the Global Note or Notes representing such Notes in
exchange for such Global Note or Notes. 
 The Issuer may at any time and in its sole discretion determine that the Notes of a
series issued in the form of one or more Global Notes shall no longer be represented by a Global Note or Notes. In such event, the Issuer shall execute, and the Trustee, upon receipt of an Authentication Order, shall authenticate and deliver, Notes
of such series in definitive registered form, in any authorized denominations, in an aggregate principal amount equal to the principal amount of the Global Note or Notes representing such series of Notes, in exchange for such Global Note or Notes.

 If specified by the Issuer with respect to Notes of a series represented by a Global Note, the Depositary for such Global
Note may surrender such Global Note in exchange, in whole or in part, for Notes of such series in definitive registered form on such terms as are acceptable to the Issuer and such Depositary. Thereupon, the Issuer shall execute, and the Trustee,
upon receipt of an Authentication Order shall authenticate and deliver, without service charge, 
  

	 	(i)	to each Person specified by such Depositary, a new Note or Notes of the same series, of any authorized denominations as requested by such Person, in an aggregate
principal amount equal to, and in exchange for, such Person’s beneficial interest in the Global Note; and 

  

	 	(ii)	to such Depositary a new Global Note of the same series in a denomination equal to the difference, if any, between the principal amount of the surrendered Global Note
and the aggregate principal amount of Notes of such series authenticated and delivered pursuant to clause (i) above. 

Upon the exchange of a Global Note for Notes in definitive registered form in authorized denominations, such Global Note shall be
cancelled by the Trustee or an agent of the Trustee. Notes in definitive registered form issued in exchange for a Global Note pursuant to this Section 2.01 shall be registered in such names and in such authorized denominations as the Depositary
for such Global Note, pursuant to instructions from its Participants or Indirect Participants or otherwise, shall instruct the Trustee or an agent of the Trustee or the Issuer or an agent of the Issuer. The Trustee or such agent shall deliver at the
Corporate Trust Office such Notes in definitive registered form to or as directed by the Persons in whose names such Notes are so registered. 

All Notes of a series issued upon any registration of transfer or exchange of Notes of the same series shall be valid and legally binding
obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes of such series surrendered upon such registration of transfer or exchange. 

Section 2.02. Execution and Authentication. 

(a) One Officer shall execute the Notes on behalf of the Issuer by manual or facsimile signature. 

 

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 (b) If an Officer whose signature is on a Note no longer holds that office at the time a
Note is authenticated by the Trustee, the Note shall nevertheless be valid. 
 (c) A Note shall not be valid until authenticated
by the manual signature of the Trustee. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture. 

(d) The Trustee shall, upon a written order of the Issuer signed by an Officer (an “Authentication Order”),
authenticate Notes for issuance. The Trustee’s certificate of authentication for each series of Notes shall be substantially in the form included in Exhibit I hereto. 

(e) The Trustee may appoint an authenticating agent acceptable to the Issuer to authenticate Notes. Unless otherwise provided in such
appointment, 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 shall have the same rights
as the Trustee to deal with Holders, the Issuer or an Affiliate of the Issuer. 
 Section 2.03. Registrar and
Paying Agent. 
 (a) The Issuer shall maintain an office or agency where Notes may be presented for registration of
transfer or for exchange (the “Registrar”) and an office or agency where Notes may be presented for payment (the “Paying Agent”). The Registrar shall keep a register (the “Security
Register”) of the Notes and of their transfer and exchange. The Issuer may appoint one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying
Agent” includes any additional paying agent. The Issuer may change any Paying Agent or Registrar without notice to any Holder. The Issuer shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If
the Issuer fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Issuer or any of its Subsidiaries may act as Paying Agent or Registrar. 

(b) The Issuer initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the
Global Notes. The Custodian agrees to act as Custodian on behalf of DTC with respect to the Global Notes. 
 (c) The Issuer
initially appoints the Trustee to act as Registrar and Paying Agent, and the Trustee hereby agrees so to initially act. 

Section 2.04. Paying Agent to Hold Money in Trust. 

The Issuer shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the
benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium, if any, or interest on the Notes, and shall notify the Trustee of any default by the Issuer in making any such payment. While any such
default continues, the Trustee may require a Paying Agent to pay all funds held by it relating to the applicable series of Notes to the Trustee. The Issuer at any time may require a 

 

 21 

 
Paying Agent to pay all funds held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer or a Subsidiary) shall have no further liability for such
funds. If the Issuer or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all funds held by it as Paying Agent. Upon any Event of Default under Section 6.01(d) or
(e) hereof relating to the Issuer, the Trustee shall serve as Paying Agent for the Notes. 
 Section 2.05.
Holder Lists. 
 The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of all Holders and shall otherwise comply with TIA § 312(a). If the Trustee shall not be the Registrar for any series of Notes at any time, the Issuer shall furnish or cause to be furnished to the
Trustee a list in such form as the Trustee may reasonably require of the names and addresses of the Holders of the Notes of such series (a) semi-annually and (b) at such other times as the Trustee may request in writing, within thirty days
after receipt of any such request and the Issuer shall otherwise comply with TIA § 312(a). 
 Section 2.06.
Transfer and Exchange. 
 (a) Transfer and Exchange of Global Notes. A Global Note may not be
transferred as a whole except by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee
of such successor Depositary. Upon the occurrence of any of the events set forth in Section 2.01(g) above, Definitive Notes shall be issued in denominations of $2,000 or integral multiples of $1,000 in excess thereof and in such names as the
Depositary shall instruct the Trustee in writing. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. Except as provided above, every Note authenticated and delivered in exchange for, or
in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for
another Note other than as provided in this Section 2.06(a), and beneficial interests in a Global Note may not be transferred and exchanged other than as provided in Section 2.06(b), (c) or (f) hereof. 

(b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in
the Global Notes shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable
to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in Global Notes also shall require compliance with either clause (i) or (ii) below, as applicable, as well as one or more of the
other following clauses, as applicable: 
  

	 	(i)	 Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons who
take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the Private Placement Legend and any Applicable Procedures; provided, however, that
prior to the 

  

 22 

	 	
expiration of the Distribution Compliance Period, transfers of beneficial interests in the Regulation S Temporary Global Note may not be made to or for the account or benefit of a “U.S.
Person” (as defined in Rule 902(k) of Regulation S) (other than transfers by a “distributor” (as defined in Rule 902(d) of the Regulation S) making such transfer in accordance with the provisions of Regulation S). Beneficial interests
in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note of the same series. Except as may be required by any Applicable Procedures, no written orders
or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(i). 

  

	 	(ii)	All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests that are not
subject to Section 2.06(b)(i) above, the transferor of such beneficial interest must deliver to the Registrar either (A)(1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable
Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note of the same series in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in
accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or (B)(1) if permitted under Section 2.06(a), a written order from a Participant or an Indirect Participant
given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note of the same series in an amount equal to the beneficial interest to be transferred or exchanged and
(2) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (B)(1) above; provided that in
no event shall Definitive Notes be issued upon the transfer or exchange of beneficial interests in the Regulation S Temporary Global Note prior to (x) the expiration of the Distribution Compliance Period and (y) the receipt by the
Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) of Regulation S. Upon consummation of an Exchange Offer by the Issuer in accordance with Section 2.06(f) hereof (if required), the requirements of this
Section 2.06(b)(ii) shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial interests in the Restricted Global Notes. Upon
satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the
relevant Global Note(s) pursuant to Section 2.06(h) hereof. 

  

	 	(iii)	 Transfer of Beneficial Interests in a Restricted Global Note to Another Restricted Global Note. A holder of a beneficial interest in a
Restricted Global Note may transfer such beneficial interest to a Person who takes delivery thereof 

 

 23 

	 	
in the form of a beneficial interest in another Restricted Global Note of the same series if the transfer complies with the requirements of Section 2.06(b)(ii) above and the Registrar
receives the following: 

 (A) if the transferee will take delivery in the form of a beneficial interest in a 144A
Global Note, then the transferor must deliver a certificate in the form of Exhibit J hereto, including the certifications in item (1) thereof; and 

(B) if the transferee will take delivery in the form of a beneficial interest in a Regulation S Temporary Global Note or a Regulation S
Permanent Global Note, as the case may be, then the transferor must deliver a certificate in the form of Exhibit J hereto, including the certifications in item (2) thereof. 

 

	 	(iv)	Transfer or Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted Global Note. A holder of a beneficial
interest in a Restricted Global Note may exchange such beneficial interest for a beneficial interest in an Unrestricted Global Note of the same series or may transfer such beneficial interest to a Person who takes delivery thereof in the form of a
beneficial interest in an Unrestricted Global Note only if the exchange or transfer complies with the requirements of Section 2.06(b)(ii) above and: 

(A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement relating to
the applicable series of Notes and the holder of the beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, makes any and all certifications required in the applicable Letter of Transmittal (or is deemed to
have made such certifications if delivery is made through the Applicable Procedures) as may be required by such Registration Rights Agreement; 

(B) such transfer is effected pursuant to a Shelf Registration Statement in accordance with the Registration Rights Agreement relating to
the applicable series of Notes; 
 (C) such transfer is effected by a broker-dealer pursuant to an Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement relating to the applicable series of Notes; or 
 (D) the
Registrar receives the following: 
 (1) if the holder of such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for a beneficial interest in an Unrestricted Global Note of the same series, a certificate from such holder in the form of Exhibit K hereto, including the certifications in item (1)(a) thereof; or 

 

 24 

 (2) if the holder of such beneficial interest in a Restricted Global Note proposes to
transfer such beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note of the same series, a certificate from such holder in the form of Exhibit J hereto, including the
certifications in item (4) thereof; 
 and, in each such case set forth in this clause (D), if the Registrar
so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer complies with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

If any such transfer is effected pursuant to clause (B) or (D) above at a time when an Unrestricted Global Note has not yet
been issued with respect to Notes of the applicable series, the Issuer shall execute and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes of
such series in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to clause (B) or (D) above. 
  

	 	(v)	Transfer or Exchange of Beneficial Interests in an Unrestricted Global Note for Beneficial Interests in a Restricted Global Note Prohibited. Beneficial interests in an
Unrestricted Global Note may not be exchanged for, or transferred to Persons who take delivery thereof in the form of, beneficial interests in a Restricted Global Note. 

(c) Transfer and Exchange of Beneficial Interests in Global Notes for Definitive Notes. 

 

	 	(i)	Transfer or Exchange of Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. Subject to Section 2.06(a) hereof, if any holder of
a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note of the same series or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a
Restricted Definitive Note of the same series, then, upon receipt by the Registrar of the following documentation: 

(A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted
Definitive Note of the same series, a certificate from such holder in the form of Exhibit K hereto, including the certifications in item (2)(a) thereof; 

(B) if such beneficial interest is being transferred to a qualified institutional buyer in accordance with Rule 144A, a certificate to
the effect set forth in Exhibit J hereto, including the certifications in item (1) thereof; 
  

 25 

 (C) if such beneficial interest is being transferred to a “Non-U.S. Person” in an
Offshore Transaction (as defined in Section 902(k) of Regulation S) in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit J hereto, including the certifications in item (2) thereof; 

(D) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the Securities Act in
accordance with Rule 144 under the Securities Act, a certificate to the effect set forth in Exhibit J hereto, including the certifications in item (3)(a) thereof; or 

(E) if such beneficial interest is being transferred to the Issuer or any of its Subsidiaries, a certificate to the effect set forth in
Exhibit J hereto, including the certifications in item (3)(b) thereof, 
 the Trustee shall reduce or cause to be reduced
in a corresponding amount pursuant to Section 2.06(h) hereof, the aggregate principal amount of the applicable Restricted Global Note, and the Issuer shall execute and, upon receipt of an Authentication Order in accordance with
Section 2.02 hereof, the Trustee shall authenticate and deliver a Restricted Definitive Note in the appropriate principal amount to the Person designated by the holder of such beneficial interest in the instructions delivered to the Registrar
by the Depositary and the applicable Participant or Indirect Participant on behalf of such holder. Any Restricted Definitive Note issued in exchange for beneficial interests in a Restricted Global Note pursuant to this Section 2.06(c)(i) shall
be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall designate in such instructions. The Trustee shall deliver such Restricted Definitive Notes to the Persons in
whose names such Notes are so registered. Any Restricted Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c)(i) shall bear the Private Placement Legend and shall be subject
to all restrictions on transfer contained therein. 
  

	 	(ii)	Notwithstanding Sections 2.06(c)(i)(A) and (C) hereof, a beneficial interest in the Regulation S Temporary Global Note may not be exchanged for a Definitive Note
or transferred to a Person who takes delivery thereof in the form of a Definitive Note prior to (x) the expiration of the Distribution Compliance Period and (y) the receipt by the Registrar of any certificates required pursuant to Rule
903(b)(3)(ii)(B) of Regulation S, except in the case of a transfer pursuant to an exemption from the registration requirements of the Securities Act other than Rule 903 or Rule 904. 

 

	 	(iii)	Transfer or Exchange of Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. Subject to Section 2.06(a) hereof, a holder of a
beneficial interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note of the same series or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an
Unrestricted Definitive Note of the same series only if: 

 (A) such exchange or transfer is effected pursuant to
an Exchange Offer in accordance with the Registration Rights Agreement relating to the applicable series of Notes and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, makes any and all
certifications in the applicable Letter of Transmittal (or is deemed to have made such certifications if delivery is made through the Applicable Procedures) as may be required by such Registration Rights Agreement; 

 

 26 

 (B) such transfer is effected pursuant to a Shelf Registration Statement in accordance with
the Registration Rights Agreement relating to the applicable series of Notes; 
 (C) such transfer is effected by a
broker-dealer pursuant to an Exchange Offer Registration Statement in accordance with the Registration Rights Agreement relating to the applicable series of Notes; or 

(D) the Registrar receives the following: 

(1) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for an
Unrestricted Definitive Note of the same series, a certificate from such holder in the form of Exhibit K hereto, including the certifications in item (1)(b) thereof; or 

(2) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a Person who
shall take delivery thereof in the form of an Unrestricted Definitive Note of the same series, a certificate from such holder in the form of Exhibit J hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this clause (D), if the Registrar so requests or if the Applicable Procedures so
require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer complies with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend
are no longer required in order to maintain compliance with the Securities Act. 
 Upon satisfaction of any of the conditions of any of the
clauses of this Section 2.06(c)(ii), the Issuer shall execute and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate and deliver an Unrestricted Definitive Note in the
appropriate principal amount to the Person designated by the holder of such beneficial interest in instructions delivered to the Registrar by the Depositary and the applicable Participant or Indirect Participant on behalf of such holder, and the
Trustee shall reduce or cause to be reduced in a corresponding amount pursuant to Section 2.06(h), the aggregate principal amount of the applicable Restricted Global Note. 

 

 27 

	 	(iv)	Transfer or Exchange of Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. Subject to Section 2.06(a) hereof, if any holder
of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for an Unrestricted Definitive Note of the same series or to transfer such beneficial interest to a Person who takes delivery thereof in the form
of an Unrestricted Definitive Note of the same series, then, upon satisfaction of the applicable conditions set forth in Section 2.06(b)(ii) hereof, the Trustee shall reduce or cause to be reduced in a corresponding amount pursuant to
Section 2.06(h) hereof, the aggregate principal amount of the applicable Unrestricted Global Note, and the Issuer shall execute, and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall
authenticate and deliver an Unrestricted Definitive Note in the appropriate principal amount to the Person designated by the holder of such beneficial interest in instructions delivered to the Registrar by the Depositary and the applicable
Participant or Indirect Participant on behalf of such holder. Any Unrestricted Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(iii) shall be registered in such name or names and in such authorized
denomination or denominations as the holder of such beneficial interest shall designate in such instructions. The Trustee shall deliver such Unrestricted Definitive Notes to the Persons in whose names such Notes are so registered. Any Unrestricted
Definitive Note issued in exchange for a beneficial interest in an Unrestricted Global Note pursuant to this Section 2.06(c)(iii) shall not bear the Private Placement Legend. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests in the Global Notes. 

 

	 	(i)	Transfer or Exchange of Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If any holder of a Restricted Definitive Note proposes to
exchange such Restricted Definitive Note for a beneficial interest in a Restricted Global Note of the same series or to transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in a
Restricted Global Note of the same series, then, upon receipt by the Registrar of the following documentation: 

(A) if the holder of such Restricted Definitive Note proposes to exchange such Restricted Definitive Note for a beneficial interest in a
Restricted Global Note of the same series, a certificate from such holder in the form of Exhibit K hereto, including the certifications in item (2)(b) thereof; 

(B) if such Restricted Definitive Note is being transferred to a qualified institutional buyer in accordance with Rule 144A, a
certificate to the effect set forth in Exhibit J hereto, including the certifications in item (1) thereof; 
  

 28 

 (C) if such Restricted Definitive Note is being transferred to a “Non-U.S.
Person” in an Offshore Transaction (as defined in Rule 902(k) of Regulation S) in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit J hereto, including the certifications in item (2) thereof;

 (D) if such Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements of
the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit J hereto, including the certifications in item (3)(a) thereof; or 

(E) if such Restricted Definitive Note is being transferred to the Issuer or any of its Subsidiaries, a certificate to the effect set
forth in Exhibit J hereto, including the certifications in item (3)(b) thereof, 
 the Trustee shall cancel the Restricted Definitive Note,
increase or cause to be increased in a corresponding amount pursuant to Section 2.06(h) hereof, the aggregate principal amount of: in the case of clause (A) above, the appropriate Restricted Global Note; in the case of clause (B),
(D) or (E) above, a 144A Global Note; in the case of clause (C) above, a Regulation S Global Note. 
  

	 	(ii)	Transfer or Exchange of Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A holder of a Restricted Definitive Note may exchange
such Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note of the same series or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted
Global Note of the same series only if: 

 (A) such exchange or transfer is effected pursuant to an Exchange Offer
in accordance with the Registration Rights Agreement relating to the applicable series of Notes and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, makes any and all certifications in
the applicable Letter of Transmittal (or is deemed to have made such certifications if delivery is made through the Applicable Procedures) as may be required by such Registration Rights Agreement; 

(B) such transfer is effected pursuant to a Shelf Registration Statement in accordance with the Registration Rights Agreement relating to
the applicable series of Notes; 
 (C) such transfer is effected by a broker-dealer pursuant to an Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement relating to the applicable series of Notes; or 
 (D) the
Registrar receives the following: 
 (1) if the holder of such Restricted Definitive Note proposes to exchange such Restricted
Definitive Note for a beneficial interest in an Unrestricted Global Note of the same series, a certificate from such holder in the form of Exhibit K hereto, including the certifications in item (1)(c) thereof; or 

 

 29 

 (2) if the holder of such Restricted Definitive Note proposes to transfer such Restricted
Definitive Note to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note of the same series, a certificate from such Holder in the form of Exhibit J hereto, including the certifications in item
(4) thereof; 
 and, in each such case set forth in this clause (D), if the Registrar so requests or if the
Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer shall be effected in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend shall no longer be required in order to maintain compliance with the Securities Act. 

Upon satisfaction of the conditions of any of the clauses in this Section 2.06(d)(ii), the Trustee shall cancel such Restricted
Definitive Note and increase or cause to be increased in a corresponding amount pursuant to Section 2.06(h) hereof, the aggregate principal amount of the applicable Unrestricted Global Note. 

 

	 	(iii)	Transfer or Exchange of Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A holder of an Unrestricted Definitive Note may
exchange such Unrestricted Definitive Note for a beneficial interest in an Unrestricted Global Note of the same series or transfer such Unrestricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note of the same series at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Note and increase or cause to be increased in a corresponding amount
pursuant to Section 2.06(h) hereof the aggregate principal amount of one of the Unrestricted Global Notes of the same series. 

  

	 	(iv)	Transfer or Exchange of Unrestricted Definitive Notes to Beneficial Interests in Restricted Global Notes Prohibited. An Unrestricted Definitive Note may not be
exchanged for, or transferred to Persons who take delivery thereof in the form of, beneficial interests in a Restricted Global Note. 

  

	 	(v)	 Issuance of Unrestricted Global Notes. If any such exchange or transfer of a Definitive Note for a beneficial interest in an Unrestricted Global
Note is effected pursuant to clause (ii)(B), (ii)(D) or (iii) of this Section 2.06 at a time when an Unrestricted Global Note has not yet been issued with respect to the Notes of the applicable series, the Issuer shall issue and, upon
receipt of an 

  

 30 

	 	
Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes of such series in an aggregate principal amount equal to the
principal amount of Definitive Notes so transferred. 

 (e) Transfer and Exchange of Definitive Notes for
Definitive Notes. Upon request by a holder of Definitive Notes and such holder’s compliance with the provisions of this Section 2.06(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such
registration of transfer or exchange, the requesting holder shall present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by
such holder. In addition, the requesting holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.06(e). 

 

	 	(i)	Transfer of Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted Definitive Note may be transferred to and registered in the name of
Persons who take delivery thereof in the form of a Restricted Definitive Note of the same series if the Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A, a certificate in the form of Exhibit J hereto, including the certifications in
item (1) thereof; 
 (B) if the transfer will be made pursuant to Rule 903 or Rule 904, a certificate in the form of
Exhibit J hereto, including the certifications in item (2) thereof; and 
 (C) if the transfer will be made pursuant to any
other exemption from the registration requirements of the Securities Act, a certificate in the form of Exhibit J hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 

 

	 	(ii)	Transfer or Exchange of Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the holder thereof for
an Unrestricted Definitive Note of the same series or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note of the same series only if: 

(A) such exchange or transfer is effected pursuant to an Exchange Offer in accordance with the Registration Rights Agreement relating to
the applicable series of Notes and the holder, in the case of an exchange, or the transferee, in the case of a transfer, makes any and all certifications in the applicable Letter of Transmittal (or is deemed to have made such certifications if
delivery is made through the Applicable Procedures) as may be required by the Registration Rights Agreement relating to the applicable series of Notes; 
  

 31 

 (B) any such transfer is effected pursuant to a Shelf Registration Statement in accordance
with the Registration Rights Agreement relating to the applicable series of Notes; 
 (C) any such transfer is effected by a
broker-dealer pursuant to an Exchange Offer Registration Statement in accordance with the Registration Rights Agreement relating to the applicable series of Notes; or 

(D) the Registrar receives the following: 

(1) if the holder of such Restricted Definitive Note proposes to exchange such Restricted Definitive Notes for an Unrestricted Definitive
Note, a certificate from such holder in the form of Exhibit K of the same series hereto, including the certifications in item (1)(d) thereof; or 

(2) if the holder of such Restricted Definitive Notes proposes to transfer such Restricted Definitive Notes to a Person who shall take
delivery thereof in the form of an Unrestricted Definitive Note of the same series, a certificate from such holder in the form of Exhibit J hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this clause (D), if the Registrar so requests, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or transfer complies with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to
maintain compliance with the Securities Act. 
 Upon satisfaction of the conditions of any of the clauses of this
Section 2.06(e)(ii), the Trustee shall cancel the prior Restricted Definitive Note and the Issuer shall execute, and upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate and deliver
an Unrestricted Definitive Note of such series in the appropriate aggregate principal amount to the Person designated by the holder of such prior Restricted Definitive Note in instructions delivered to the Registrar by such holder. 

 

	 	(iii)	Transfer of Unrestricted Definitive Notes to Unrestricted Definitive Notes. A holder of Unrestricted Definitive Notes may transfer such Unrestricted Definitive
Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note of the same series. Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the
instructions from the holder thereof. 

 (f) Exchange Offer. From and after the effective time of
the Merger, upon the occurrence of an Exchange Offer in accordance with the Registration Rights Agreement for each series of Notes, the Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the
Trustee shall authenticate for each series of Notes (A) one or more Unrestricted Global Notes of the appropriate series in an aggregate principal 

 

 32 

 
amount equal to the aggregate principal amount of the beneficial interests in the applicable Restricted Global Notes (1) tendered for acceptance by Persons that make any and all
certifications in the applicable Letters of Transmittal (or are deemed to have made such certifications if delivery is made through the Applicable Procedures) as may be required by such Registration Rights Agreement and (2) accepted for
exchange in such Exchange Offer and (B) Unrestricted Definitive Notes of the appropriate series in an aggregate principal amount equal to the aggregate principal amount of the Restricted Definitive Notes tendered for acceptance by Persons who
made the foregoing certifications and accepted for exchange in the Exchange Offer. Concurrently with the issuance of such Notes, the Trustee shall reduce or cause to be reduced in a corresponding amount the aggregate principal amount of the
applicable Restricted Global Notes, and the Issuer shall execute and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate and deliver to the Persons designated by the holders of
Restricted Definitive Notes so accepted Unrestricted Definitive Notes of the appropriate series in the appropriate aggregate principal amount; it being understood for the purposes of this Indenture that Spinco is not a party to any Registration
Rights Agreement. 
 (g) Legends. The following legends shall appear on the face of all Global Notes and Definitive
Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. 
  

	 	(i)	Private Placement Legend. 

(A) Except as permitted by clause (B) below, each Global Note and each Definitive Note (and all Notes issued in exchange therefor or
substitution thereof) shall bear the legend in substantially the following form: 
 “THIS SECURITY (OR ITS PREDECESSOR) HAS
NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF,
U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 

(1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A
“QIB”) OR (B) IT IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT; 

(2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER OR ANY OF ITS SUBSIDIARIES,
(B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION MEETING THE REQUIREMENTS OF RULE
903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) IN A 
  

 33 

 
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON
AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUER), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
APPLICABLE JURISDICTION; AND 
 (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN IS
TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 
 AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION”
AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE GOVERNING THIS SECURITY CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS SECURITY
IN VIOLATION OF THE FOREGOING.” 
 (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to
clause (b)(iv), (c)(ii), (c)(iii), (d)(ii), (d)(iii), (e)(ii), (e)(iii) or (f) to this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof) shall not bear the Private Placement Legend. 

 

	 	(ii)	Global Note Legend. Each Global Note shall bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE
BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (II) THIS GLOBAL
NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE
TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE
OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR 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 
  

 34 

 
SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.” 
  

	 	(iii)	Regulation S Temporary Global Note Legend. Each Regulation S Temporary Global Note shall bear a legend in substantially the following form:

 “THIS SECURITY IS A REGULATION S TEMPORARY GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE REFERRED TO
HEREINAFTER AND IS SUBJECT TO THE RESTRICTIONS ON THE TRANSFER AND EXCHANGE HEREOF AS SPECIFIED IN THE INDENTURE. UNTIL 40 DAYS AFTER THE ISSUE DATE HEREOF, AN OFFER OR SALE OF THE NOTES WITHIN THE UNITED STATES BY A DEALER (AS DEFINED IN THE
SECURITIES ACT OF 1933, AS AMENDED) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED, IF SUCH OFFER OR SALE IS MADE OTHERWISE THAN IN ACCORDANCE WITH RULE 144A UNDER THE SECURITIES ACT OF 1933, AS AMENDED.”

 (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular
Global Note have been exchanged for Definitive Notes of such series or a particular Global Note has been redeemed, repurchased or cancelled in whole and not in part, each such Global Note shall be returned to or retained and cancelled by the Trustee
in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in
another Global Note of such series or for Definitive Notes of such series, the aggregate principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by
the Custodian at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note of
the same series, the aggregate principal amount of such other Global Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Custodian at the direction of the Trustee to reflect such
increase. 
 (i) General Provisions Relating to Transfers and Exchanges. 

 

	 	(i)	 No service charge shall be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration of
transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any 

  

 35 

	 	
transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to
Sections 2.10, 3.04, 4.09 and 9.05 hereof). 

  

	 	(ii)	All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes shall be the valid obligations of the
Issuer, evidencing the same debt as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly
issued hereunder. 

  

	 	(iii)	Neither the Registrar nor the Issuer shall be required (A) to issue, to register the transfer of or to exchange any Notes during a period beginning at the opening
of business 15 days before the day of any selection of Notes for redemption under Section 3.04 hereof and ending at the close of business on the date of selection, (B) to register the transfer of or to exchange any Note so selected for
redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part or (C) to register the transfer of or to exchange a Note between a record date and the next succeeding Interest Payment Date.

  

	 	(iv)	Prior to due presentment for the registration of transfer of any Note, the Trustee, any Agent and the Issuer may deem and treat the Person in whose name any Note is
registered as the absolute owner of such Note for the purpose of receiving payment of principal of, premium, if any, and interest on such Note and for all other purposes, in each case regardless of any notice to the contrary.

  

	 	(v)	All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to effect a registration of
transfer or exchange may be submitted by facsimile. 

  

	 	(vi)	The Trustee is hereby authorized and directed to enter into a letter of representation with the Depositary in the form provided by the Issuer and to act in accordance
with such letter. 

  

	 	(vii)	None of the Trustee, the Paying Agent or the Registrar 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 Participants or Indirect Participants) 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 2.07. Replacement Notes. 

If any mutilated Note of any series is surrendered to the Trustee or the Issuer and the Trustee receives evidence to its satisfaction of
the destruction, loss or theft of such Note, the 
  

 36 

 
Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate a replacement Note of the same series. If required by
the Trustee or the Issuer, the Holder of such Note shall provide indemnity that is sufficient, in the judgment of the Trustee or the Issuer, to protect the Issuer, the Trustee, any Agent and any authenticating agent from any loss that any of them
may suffer in connection with such replacement. If required by the Issuer, such Holder shall reimburse the Issuer for its reasonable expenses in connection with such replacement. 

Every replacement Note issued in accordance with this Section 2.07 shall be the valid obligation of the Issuer, evidencing the same
Indebtedness as the destroyed, lost or stolen Note, and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes of the same series duly issued hereunder. 

Section 2.08. Outstanding Notes. 

(a) The Notes of any series outstanding at any time shall be the entire principal amount of Notes represented by all of the Global Notes
of such series and Definitive Notes of such series authenticated by the Trustee except for those cancelled by the Trustee, those delivered to the Trustee for cancellation, those subject to reductions in beneficial interests effected by the Trustee
in accordance with Section 2.06 hereof, and those described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a Note shall not cease to be outstanding because the Issuer or an Affiliate of the Issuer
holds the Note. 
 (b) If a Note is replaced pursuant to Section 2.07 hereof, it shall cease to be outstanding unless the
Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser. 
 (c) If the principal
amount of any Note is considered paid under Section 4.01 hereof, it shall cease to be outstanding and interest on it shall cease to accrue. 

(d) If the Paying Agent (other than the Issuer, a Subsidiary or an Affiliate of any thereof) holds, on a redemption date or a maturity
date, funds 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. 

(e) Notes as to which defeasance has been effected pursuant to Article 8 shall not be considered Outstanding. 

Section 2.09. Treasury Notes. 

In determining whether the Holders of the required principal amount of Notes of any series have concurred in any direction, waiver or
consent, Notes of such series owned by the Issuer, or by any Affiliate of the Issuer, shall not be considered to be 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 such series that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. 
  

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 Section 2.10. Temporary Notes. 

Until certificates representing Notes are ready for delivery, the Issuer may prepare and, upon receipt of an Authentication Order in
accordance with Section 2.02 hereof, the Trustee shall authenticate temporary Notes (each a “Temporary Note”). Temporary Notes shall be substantially in the form of Definitive Notes but may have variations that the
Issuer considers appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Issuer shall prepare and the Trustee shall authenticate Global Notes or Definitive Notes in exchange for Temporary
Notes, as applicable. After preparation of Definitive Notes, the Temporary Note will be exchangeable for Definitive Notes upon surrender of the Temporary Notes. 

Holders of Temporary Notes of any series shall be entitled to all of the benefits of this Indenture equally and proportionately with all
other Notes of such series duly issued hereunder. 
 Section 2.11. Cancellation. 

The Issuer at any time may deliver Notes to the Trustee for cancellation. The Issuer, the Registrar and the Paying Agent shall forward to
the Trustee any Notes surrendered to them for registration of transfer, exchange, conversion or payment. The Trustee and no one else shall cancel all Notes delivered to it by the Issuer or forwarded to it by the Registrar and the Paying Agent and
shall dispose of such cancelled Notes in accordance with the Trustee’s then customary procedures (subject to the record retention requirements of the Exchange Act or other applicable laws) unless by an Issuer Order, the Issuer directs them to
be returned to it. Certification of the disposition of all cancelled Notes shall be delivered to the Issuer from time to time upon request. The Issuer may not issue new Notes to replace Notes that it has paid or, except as expressly permitted by
this Indenture, that have been delivered to the Trustee for cancellation. 
 Section 2.12. Payment of
Interest; Defaulted Interest. 
 If the Issuer defaults in a payment of interest on the Notes of any series, 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 such Notes on a subsequent special record date, in each case at the rate provided in the Notes
of such series. The Issuer 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 Issuer 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 Interest Payment Date for such defaulted interest. At least 15 days before the special record date, the Issuer (or, upon the written request of
the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed to Holders of Notes of such series a notice that states the special record date, the related Interest Payment Date and the amount of such interest
to be paid. 
 Section 2.13. CUSIP or ISIN Numbers. 

The Issuer in issuing the Notes may use “CUSIP”, “ISIN” and/or other similar numbers (if then generally in use), and,
if so, the Trustee shall use “CUSIP”, “ISIN” and/or other similar numbers in notices of redemption or offers to purchase as a convenience to Holders; provided, 

 

 38 

 
however, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption or
notice of an offer to purchase and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption or offer to purchase shall not be affected by any defect in or omission of such numbers. The Issuer
shall promptly notify the Trustee of any change in the “CUSIP”, “ISIN” and/or other similar numbers. 

Section 2.14. Special Interest. 

From and after the effective time of the Merger, if Special Interest is payable by the Issuer pursuant to the Registration Rights
Agreement for any series of Notes, the Issuer shall deliver to the Trustee a certificate to that effect stating (i) the amount of such Special Interest that is payable and (ii) the date on which such interest is payable pursuant to
Section 4.01 hereof. Unless and until a Responsible Officer of the Trustee receives such a certificate or instruction or direction from the Holders in accordance with the terms of this Indenture, the Trustee may assume without inquiry that no
Special Interest is payable. The foregoing shall not prejudice the rights of the Holders with respect to their entitlement to Special Interest as otherwise set forth in this Indenture or the Notes and pursuing any action against the Issuer directly
or otherwise directing the Trustee to take any such action in accordance with the terms of this Indenture and the Notes. If the Issuer has paid Special Interest directly to the Persons entitled to it, the Issuer shall deliver to the Trustee an
Officers’ Certificate setting forth the details of such payment. 
 Section 2.15. Issuance of Additional
Notes. 
 The Issuer shall be entitled to issue additional Notes of any series of Notes issued under this Indenture
which shall have identical terms as applicable series of Notes issued on the date hereof, other than with respect to the date of issuance, issue price and rights under the Registration Rights Agreement relating to the applicable series of Notes.
Each series of Notes issued on the date hereof, any additional Notes of such series and all Exchange Notes issued in exchange therefor shall be treated as a single class for all purposes under this Indenture, including directions, waivers,
amendments, consents, redemptions and offers to purchase. 
 With respect to any additional Notes, the Issuer shall set forth in
a Board Resolution and an Officers’ Certificate, a copy of each of which shall be delivered to the Trustee, the following information: 

(a) the aggregate principal amount of such additional Notes to be authenticated and delivered pursuant to this Indenture; 

(b) the issue price, the issue date and the CUSIP and/or ISIN number of such additional Notes; provided, however, that no
additional Notes may be issued at a price that would cause such additional Notes to have “original issue discount” within the meaning of Section 1273 of the Code, other than a de minimis original issue discount within the meaning of
Section 1273 of the Code; and 
 (c) whether such additional Notes shall be subject to the restrictions on transfer set
forth in Section 2.06 hereof relating to Restricted Global Notes and Restricted Definitive Notes. 
  

 39 

 Section 2.16. Record Date. 

The record date for purposes of determining the identity of Holders of Notes entitled to vote or consent to any action by vote or consent
or permitted under this Indenture shall be set by the Issuer or otherwise determined as provided for in TIA § 316(c). 

ARTICLE 3. 

REDEMPTION AND PREPAYMENT 

Section 3.01. Applicability of Article. 

Prior to the effective time of the Merger, subsection 3.03 shall be applicable to all Notes. Only from and after the effective time of
the Merger, subsections 3.02, 3.04, 3.05, 3.06 and 3.07 shall be applicable to the Notes of any series which are redeemable before their maturity. 

Section 3.02. Optional Redemption. 

The Notes of any series may be redeemed at the Issuer’s election, in whole or in part, at any time (subject to subsection 3.01) at a
redemption price equal to the greater of: 
 (1) 100% of the principal amount of the Notes to be redeemed; and

 (2) as determined by an Independent Investment Banker, the sum of the present values of the remaining
scheduled payments of principal and interest on the Notes to be redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Adjusted Treasury Rate, plus 50 basis points; 
 plus, in either of the above cases, accrued and
unpaid interest to the date of redemption on the Notes to be redeemed. 
 If the Issuer selects a redemption date that is on or
after an interest record date and on or before the related Interest Payment Date, the accrued and unpaid interest, if any, shall be paid to the Person in whose name the Note is registered at the close of business on such interest record date.

 The Issuer shall mail a notice of redemption at least 30 days but not more than 60 days before the redemption date to each
Holder of the Notes to be redeemed. 
 Unless the Issuer defaults in payment of the redemption price, on and after the
redemption date, interest shall cease to accrue on the Notes or portions thereof called for redemption. 
  

 40 

 Section 3.03. Special Mandatory Redemption. 

In the event that the Merger Agreement is terminated or the Spin-Off and the Merger are not completed on or before October 1, 2010,
the Notes of each series will be subject to a special mandatory redemption (the “Special Mandatory Redemption”), and in such event, the Trustee, on the date on which it receives notice of the Special Mandatory Redemption from
the Escrow Agent (the “Redemption Notice Date”), shall promptly notify each Holder (with a copy to the Escrow Agent) that all of the outstanding Notes of each series shall be redeemed on either the (i) the Redemption
Notice Date or (ii) the next Business Day following the Redemption Notice Date, in accordance with the terms of the Escrow Agreement (such date, the “Special Redemption Date”) automatically and without any further action
by the Holders of the Notes, at a redemption price equal to 100% of the issue price of such series of Notes, plus accrued and unpaid interest on the principal amount of such series of Notes to, but not including, the date of redemption (the
“Special Mandatory Redemption Price”) and, promptly upon receipt of such notice, shall forward such notice to the Paying Agent. Upon receipt of such notice, the Paying Agent shall calculate the Special Mandatory Redemption
Price and shall notify the Escrow Agent, the Trustee, Spinco and Frontier if the amount of the Escrowed Funds is less than the Special Mandatory Redemption Price and the amount of such shortfall. At or prior to 2:00 p.m. (New York City time) on the
Special Redemption Date, the Escrow Agent shall as promptly as practicable release from the escrow account to the Paying Agent as per the written instructions of the Trustee (which shall specify the Special Mandatory Redemption Price and the wire
payment instructions), an amount equal to the lesser of (A) the amount of funds in the escrow account and (B) the aggregate amount of the Special Mandatory Redemption Price. In the event that the amount of funds in the escrow account is
less than the aggregate amount of the Special Mandatory Redemption Price, Frontier has agreed to pay to the Paying Agent, at or prior to 2:00 p.m. (New York City time) on the Special Redemption Date, cash in the amount of such shortfall so as to
permit all outstanding Notes to be redeemed on the Special Redemption Date at the Special Mandatory Redemption Price. 
 In the
event the net proceeds from the escrow account have been released to Spinco in accordance with the terms of the Escrow Agreement but for any reason the Merger is not consummated prior to the earlier of (1) 11:59 p.m. (New York City time) on
October 1, 2010, and (2) 2:00 p.m. (New York City time) on the Business Day following such release of funds to Spinco, Spinco shall promptly arrange for the redeposit of such released funds into the escrow account, which shall in no event
occur later than 2:00 p.m. (New York City time) on the Special Redemption Date. 
 Section 3.04. Notice of
Redemption. 
 Notice of redemption to the Holders of Notes of any series to be redeemed pursuant to Section 3.02
hereof as a whole or in part at the option of the Issuer shall be given by mailing notice of such redemption by first class mail, postage prepaid, at least 30 days and not more than 60 days prior to the date fixed for redemption to such Holders of
Notes of such series at their last addresses as they shall appear in the Security Register, with a copy thereof provided by the Issuer to the Trustee. Any notice which is mailed in the manner herein provided shall be conclusively presumed to have
been duly given, whether or not the Holder receives the notice. Failure to give notice by mail, or any defect in the notice to the Holder of any Notes of such 

 

 41 

 
series designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Note. The notice of redemption to each such Holder shall
specify (i) the principal amount of each Note held by such Holder to be redeemed, (ii) the date fixed for redemption, (iii) the redemption price, (iv) the place or places of payment, (v) the CUSIP number relating to the
Notes, (vi) that payment will be made upon presentation and surrender of the Notes, (vii) whether interest, if any, accrued to the date fixed for redemption will be paid as specified in such notice and (viii) whether on and after said
date interest, if any, thereon or on the portions thereof to be redeemed will cease to accrue. In case any Note is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall
state that on and after the date fixed for redemption, upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion thereof will be issued. 

The notice of redemption of Notes to be redeemed at the option of the Issuer shall be given by the Issuer or, at the Issuer’s
request, by the Trustee in the name and at the expense of the Issuer. 
 On or before the redemption date specified in the
notice of redemption given as provided in this Section 3.04, the Issuer shall deposit with the Trustee or with one or more Paying Agents (or, if the Issuer is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in
Section 4.04(b)) an amount of money sufficient to redeem on the redemption date all the Notes of such series so called for redemption at the appropriate redemption price, together with accrued interest, if any, to the date fixed for redemption.
The Issuer shall deliver to the Trustee at least 45 days prior to the date fixed for redemption (but no later than the receipt by the Holders of the notice of redemption) (unless a shorter notice period shall be satisfactory to the Trustee) an
Officers’ Certificate stating the aggregate principal amount of Notes of such series to be redeemed. In case of a redemption at the election of the Issuer prior to the expiration of any restriction on such redemption, the Issuer shall deliver
to the Trustee, prior to the giving of any notice of redemption to Holders pursuant to this Section, an Officers’ Certificate stating that such restriction has been complied with. 

Section 3.05. Payment of Notes Called for Redemption. 

If notice of redemption has been given as provided by this Article 3, the Notes or portions of Notes specified in such notice shall
become due and payable on the date and at the place or places stated in such notice at the applicable redemption price, together with interest, if any, accrued to the date fixed for redemption, and on and after said date (unless the Issuer shall
default in the payment of such Notes at the redemption price, together with unpaid interest, if any, accrued to said date) interest, if any, on the Notes or portions of Notes so called for redemption shall cease to accrue, and such Notes shall cease
from and after the date fixed for redemption, except as provided herein, to be entitled to any benefit or security under this Indenture, and the Holders thereof shall have no right in respect of such Notes except the right to receive the redemption
price thereof and accrued and unpaid interest thereon, if any, to the date fixed for redemption. On presentation and surrender of such Notes at a place of payment specified in said notice, said Notes or the specified portions thereof shall be paid
and redeemed by the Issuer at the applicable redemption price, together with interest, if any, accrued thereon to the date fixed for redemption; provided that payment of interest, if any, becoming due on or prior

  

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to the date fixed for redemption shall be payable to the Person in whose name the Note is registered at the close of business on the related interest record date subject to the terms and
provisions of this Section 3.05. 
 If any Note called for redemption shall not be so paid upon surrender thereof for
redemption, the redemption price shall, until paid or duly provided for, bear interest from the date fixed for redemption at the rate of interest borne by such Note. 

Upon presentation of any Note redeemed in part only, the Issuer shall execute and the Trustee shall authenticate and deliver to or on the
order of the Holder thereof, at the expense of the Issuer, a new Note or Notes, and of like series and tenor, of authorized denominations, in principal amount equal to the unredeemed portion of the Note so presented. 

Section 3.06. Exclusion of Certain Securities from Eligibility for Selection for Redemption. 

Notes shall be excluded from eligibility for selection for redemption pursuant to Section 3.02 hereof if they are identified by
registration and certificate number in an Officers’ Certificate delivered to the Trustee at least 45 days prior to the last date on which notice of redemption may be given as being owned of record and beneficially by, and not pledged or
hypothecated by either (a) the Issuer, or (b) a Person specifically identified in such written statement as an Affiliate of the Issuer. 

Section 3.07. Partial Redemption. 

If less than all of the Notes of a series are to be redeemed pursuant to Section 3.02 hereof, selection of the Notes for redemption
shall be made by the Trustee as follows: 
 (a) if the Notes of such series are listed on any national securities exchange, in
compliance with the requirements of such national securities exchange; or 
 (b) if the Notes of such series are not so listed,
on a pro rata basis (subject to the procedures of the Depositary) or, to the extent a pro rata basis is not permitted, in such manner as the Trustee shall deem to be fair and appropriate. 

No Note of $2,000 in principal amount or less shall be redeemed in part. If any Note is to be redeemed in part only, the notice of
redemption mailed pursuant to Section 3.04 relating to such Note will state the portion of the principal amount to be redeemed. A new Note of the same series in principal amount equal to the unredeemed portion shall be issued upon cancellation
of the original Note. 
 Notice of the redemption shall be given only after such selection has been made. Notes may be redeemed
in part in multiples equal to the minimum authorized denomination for Notes or any multiple thereof. The Trustee shall promptly notify the Issuer in writing of the Notes selected for redemption and, in the case of any Notes selected for partial
redemption, the principal amount thereof to be redeemed. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Notes shall relate, in the case of any Note redeemed or to be redeemed
only in part, to the portion of the principal amount of such Note which has been or is to be redeemed. 
  

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 ARTICLE 4. 

COVENANTS 

Section 4.01. Payment of Principal and Interest. 

The Issuer covenants and agrees that it, for the benefit of each series of Notes, shall duly and punctually pay or cause to be paid the
principal of, premium, if any, and interest, if any, on such series of the Notes at the place, at the respective times and in the manner provided in such series of Notes. 

Section 4.02. Offices for Notices and Payments, etc. 

So long as any Notes of a series are outstanding, the Issuer shall maintain in each Place of Payment for each series of Notes an office
or agency where such series of Notes may be presented for payment, an office or agency where such series of Notes may be presented for registration of transfer and for exchange as provided in this Indenture, and an office or agency where notices and
demands to or upon the Issuer in respect of such series of Notes or of this Indenture may be served. The Issuer shall give prompt written notice to the Trustee of the location, and any change in location, of such office or agency. In case the Issuer
shall at any time fail to maintain any such office or agency, or shall fail to give notice to the Trustee of any change in the location thereof, presentation may be made and notice and demand may be served in respect of such Notes or of this
Indenture at the Corporate Trust Office. The Issuer hereby initially designates the Corporate Trust Office as the appropriate office for each such purpose. 

Section 4.03. Appointments to Fill Vacancies in Trustee’s Office. 

The Issuer, whenever necessary to avoid or fill a vacancy in the office of the Trustee, shall appoint, in the manner provided in
Section 7.08, a Trustee, so that there shall at all times be a Trustee hereunder. 
 Section 4.04.
Provision as to Paying Agent. 
 (a) The Issuer hereby initially appoints the Trustee as the Paying Agent for
each series of Notes. If the Issuer shall, for any series of Notes, appoint a Paying Agent other than the Trustee, it shall cause such Paying Agent to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the
Trustee, subject to the provisions of this Section 4.04, 
  

	 	(i)	that it will hold all sums held by it as such Paying Agent for the payment of the principal of or interest, if any, on such Notes (whether such sums have been paid to
it by the Issuer or by any other obligor on such Notes) in trust for the benefit of the Holders of the Notes and the Trustee; and 

  

 44 

	 	(ii)	that it will give the Trustee notice of any failure by the Issuer (or by any other obligor on such Notes) to make any payment of the principal of, premium, if any, or
interest, if any, on such Notes when the same shall be due and payable; and 

  

	 	(iii)	that it will, at any time during the continuance of any such failure, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by
such Paying Agent. 

 (b) If the Issuer shall act as its own Paying Agent with respect to any series of Notes, it
shall, on or before each due date of the principal of or interest, if any, on such Notes, set aside, segregate and hold in trust for the benefit of the Holders of such Notes a sum sufficient to pay such principal, premium, if any, or interest, if
any, so becoming due and shall notify the Trustee of any failure to take such action and of any failure by the Issuer (or by any other obligor under such Notes) to make any payment of the principal of, premium, if any, or interest, if any, on such
Notes when the same shall become due and payable. 
 (c) Anything in this Section 4.04 to the contrary notwithstanding, the
Issuer may, at any time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by it, or any Paying Agent hereunder, as required by this
Section 4.04, such sums to be held by the Trustee upon the trusts herein contained. Upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

(d) Anything in this Section 4.04 to the contrary notwithstanding, any agreement of the Trustee or any Paying Agent to hold sums in
trust as provided in this Section 4.04 is subject to Sections 8.03 and 8.04. 
 (e) Whenever the Issuer shall have one or
more Paying Agents for any series of Notes, it shall, on or before each due date of the principal of or interest, if any, on such Notes, deposit with a Paying Agent a sum sufficient to pay the principal, premium, if any, or interest, if any, so
becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium, if any, or interest, if any, and (unless such Paying Agent is the Trustee) the Issuer shall promptly notify the Trustee of its action or
failure so to act. 
 Section 4.05. Reports by the Issuer. 

The Issuer covenants: 

(a) From and after the Issue Date and prior to the effective time of the Merger, if financial information of Verizon’s Separate
Telephone Operations for a completed fiscal quarter has not been filed with or furnished to the Commission by Verizon or the Issuer, the Issuer shall furnish the following information with respect to Verizon’s Separate Telephone Operations to
the Trustee within 60 days after the end of such fiscal quarter, in each case with respect to such fiscal quarter and any interim period since the date of the end of the most recently ended fiscal year of Verizon’s Separate Telephone
Operations: 
  

	 	(i)	the unaudited combined results of operations of Verizon’s Separate Telephone Operations (including operating revenues, cost of services and sales, selling, general
and administrative expense, depreciation and amortization expense, operating income, interest expense, income before provision for income taxes, income tax provision and net income); 

 

 45 

	 	(ii)	capital expenditures; and 

  

	 	(iii)	the aggregate number of each of (a) switched access lines in service, (b) FiOS Internet subscribers, (c) FiOS TV subscribers and (d) High-Speed
Internet subscribers. 

 (b) At any time prior to the effective time of the Merger, the Issuer shall furnish, upon
request, to Holders of the Notes and prospective purchasers designated by Holders, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

(c) From and after the effective time of the Merger, the Issuer shall be required to: 

 

	 	(i)	file with the Trustee, within 15 days after the Issuer files the same with the Commission, copies of the annual reports and of the information, documents and other
reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe), if any, which the Issuer may be required to file with the Commission pursuant to Section 13 or
Section 15(d) of the Exchange Act; or, if the Issuer is not required to file information, documents or reports pursuant to either of such Sections, then to file with the Trustee and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the Exchange Act, in respect of a debt security listed and registered on a
national securities exchange as may be prescribed from time to time in such rules and regulations; 

  

	 	(ii)	file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such additional information,
documents and reports with respect to compliance by the Issuer with the conditions and covenants provided for in this Indenture as may be required from time to time by such rules and regulations; and 

 

	 	(iii)	furnish to the Trustee, by April 30 of each fiscal year of the Issuer beginning with April 30, 2011, a brief certificate from the principal executive officer,
principal financial officer or principal accounting officer as to his knowledge of the Issuer’s compliance with all conditions and covenants under this Indenture during the prior fiscal year. 

(d) to transmit by mail to the Holders of the Notes within 30 days after the filing thereof with the Trustee, in the manner and to the
extent provided in Section 7.06, such summaries of any information, documents and reports required to be filed by the Issuer pursuant to subsections (c)(i) and (c)(ii) of this Section 4.05 as may be required to be transmitted to such
Holders by rules and regulations prescribed from time to time by the Commission; 
  

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 Delivery of such reports, information and documents to the Trustee pursuant to clauses (a),
(b) and (c)(i) and (ii) of this Section 4.05 is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information
contained therein, including the Issuer’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 

Section 4.06. Limitation on Spinco Indebtedness and Spinco Liens. 

(a) At the time that is immediately prior to the effective time of the Merger and after giving effect to the Distribution, neither the
Issuer nor any of its Subsidiaries shall have outstanding any indebtedness for borrowed money paid to the Issuer or such Subsidiary (as the case may be) and owed to third parties (excluding the deferred purchase price of property or services, but
including any Guarantees of indebtedness of third parties) (“Spinco Indebtedness”), other than: 
 (1)
The Notes issued on the Issue Date; 
 (2) Spinco Indebtedness in the form of one or more term loan bank borrowings and/or
capital markets issuances by the Issuer prior to or substantially contemporaneous with the Distribution effected for the purpose of financing the Special Cash Payment, the net proceeds of which did not exceed, in the aggregate, $3.5 billion less the
aggregate net proceeds of (x) the Notes issued on the Issue Date, (y) the Distribution Date Indebtedness and (z) any Spinco Debt Securities; 

(3) Spinco Indebtedness representing the Distribution Date Indebtedness; 

(4) Spinco Indebtedness in the form of Spinco Debt Securities; 

(5) Additional Spinco Indebtedness in an amount not to exceed, in the aggregate, $100 million; and 

(6) Guarantees by any Subsidiary of the Issuer of any Spinco Indebtedness permitted by clauses (2) through (5) above.

 (b) At the time that is immediately prior to the effective time of the Merger and after giving effect to the Distribution,
none of the Spinco Indebtedness, other than Spinco Indebtedness contemplated by clauses (2) through (5) above and Guarantees by any Subsidiary thereof, shall be secured by any Lien on any of the Issuer’s or its Subsidiaries’
property or assets (which includes Capital Stock). 
  

 47 

 Section 4.07. Limitation on Subsidiary Indebtedness. From and
after the effective time of the Merger, the Issuer shall not permit any of its Subsidiaries to Incur any Indebtedness, other than: 

(1) Indebtedness of any Subsidiary of the Issuer consisting of (i) Guarantees by such Subsidiary of Indebtedness of the Issuer under
Credit Facilities or (ii) Liens granted by such Subsidiary to secure such Guarantee or such Indebtedness of the Issuer, in an aggregate principal amount (without duplication), when taken together with the aggregate principal amount of
Indebtedness secured by Liens on the property or assets (which includes capital stock) of the Issuer and its Subsidiaries Incurred pursuant to the second sentence and clause (1) of the first paragraph of Section 4.08, not to exceed the
Permitted Amount at the time of Incurrence of such Guarantee or Lien; 
 (2) Indebtedness of any Designated Subsidiary or any
Subsidiary of such Designated Subsidiary, provided that, with respect to this clause (2) only, no portion of such Indebtedness is recourse to the Issuer or any of its other Subsidiaries; 

(3) Acquired Indebtedness; 

(4) Indebtedness of any Subsidiary of the Issuer existing as of the effective time of, and after giving effect to, the Merger;

 (5) Indebtedness of any Subsidiary of the Issuer issued in exchange for, or the net proceeds of which are used or shall be
used to extend, refinance, renew, replace, defease or refund, other Indebtedness that was permitted to be Incurred under clause (3) or (4) of this Section 4.07; or 

(6) Indebtedness in an aggregate principal amount, at anytime outstanding, not to exceed $250.0 million. 

The maximum amount of Indebtedness that may be Incurred pursuant to this Section 4.07 shall not be deemed to be exceeded with
respect to any outstanding Indebtedness due solely to the result of fluctuations in the exchange rates of currencies. 

Section 4.08. Limitations on Liens. From and after the effective time of the Merger, the Issuer shall not, and
shall not permit any of its Subsidiaries to, incur or permit to exist any Lien on any of the Issuer’s or its Subsidiaries’ property or assets (which includes capital stock) securing Indebtedness, unless the Lien secures the Notes equally
and ratably with, or prior to, any such Indebtedness secured by such Lien, for so long as such other Indebtedness is so secured, subject to certain exceptions described in this Section 4.08. This Section 4.08 shall not apply to secured
debt which the Issuer or its Subsidiaries may issue, assume, guarantee or permit to exist up to 10% of the value of the consolidated total assets of the Issuer as shown on, or computed from, the most recent quarterly or annual balance sheet prepared
in accordance with GAAP and filed by the Issuer with the Commission or provided to the Trustee. In addition, this Section 4.08 shall not apply to: 

(1) Liens securing Indebtedness and other obligations under any senior bank financing of the Issuer or any of its Subsidiaries, including
Guarantees of Indebtedness and other 
  

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obligations under such senior bank financings, in an amount of up to 20% of the sum of the total consolidated current assets and net property, plant and equipment of the Issuer as shown on, or
computed from, the most recent quarterly or annual balance sheet prepared in accordance with GAAP and filed by the Issuer with the Commission or provided to the Trustee; 

(2) Liens existing as of the effective time of, and after giving effect to, the Merger; 

(3) Liens on property that exist when the Issuer acquires the property that secure payment of the purchase price of the property;

 (4) Liens securing debt that any Subsidiary of the Issuer owes to the Issuer or to any other Subsidiary of the Issuer;

 (5) Liens on property, shares of stock or Indebtedness of any entity that exists when (a) it becomes a Subsidiary of the
Issuer, (b) it is merged into or consolidated with the Issuer or any of its Subsidiaries, or (c) the Issuer or any of its Subsidiaries acquires all or substantially all of the assets of the entity, provided that no such Lien extends
to any other property of the Issuer or any of its Subsidiaries; 
 (6) Liens on property to secure debt incurred for development
or improvement of the property; 
 (7) Liens securing (a) nondelinquent performance of bids or contracts (other than for
borrowed money, obtaining of advances or credit or the securing of debt), (b) contingent obligations on surety and appeal bonds and (c) other similar nondelinquent obligations, in each case incurred in the ordinary course of business;

 (8) Liens securing purchase money Indebtedness or Capital Lease Obligations, provided that (a) any such Lien
attaches to the property within 270 days after the acquisition thereof and (b) such Lien attaches solely to the property so acquired; 

(9) Liens arising solely by virtue of any statutory or common law provision relating to banker’s Liens, rights of set-off or similar
rights and remedies as to deposit account or other funds, provided that such deposit account is not a dedicated cash collateral account and is not subject to restrictions against the Issuer’s access in excess of those set forth by
regulations promulgated by the Federal Reserve Board and such deposit account is not intended by the Issuer to provide collateral to the depository institution; 

(10) pledges or deposits under worker’s compensation laws, unemployment insurance laws or similar legislation; 

(11) statutory and tax Liens for sums not yet due or delinquent or which are being contested or appealed in good faith by appropriate
proceedings; 
 (12) Liens arising solely by operation of law and in the ordinary course of business, such as mechanics’,
materialmen’s, warehousemen’s and carriers’ Liens and Liens of landlords or of mortgages of landlords on fixtures and movable property located on premises leased in the ordinary course of business; 

 

 49 

 (13) Liens on personal property (other than shares or debt of the Issuer’s
Subsidiaries) securing loans maturing in not more than one year or on accounts receivables in connection with a receivables financing program; 

(14) Liens securing financings in amounts up to the value of assets, businesses and properties acquired after the consummation of the
Merger; or any Lien upon any property to secure all or part of the cost of construction thereof or to secure debt incurred prior to, at the time of, or within twelve months after completion of such construction or the commencement of full operations
thereof (whichever is later), to provide funds for such purpose; and 
 (15) extensions, renewals or replacement of any of the
Liens described above, if limited to all or any part of the same property securing the original Lien. 
 Notwithstanding the
foregoing, from and after the effective time of the Merger, the Issuer shall not, and shall not permit any of its Subsidiaries to, Incur or permit to exist Liens securing Indebtedness or other obligations pursuant to the second sentence or clause
(1) of the first paragraph of this Section 4.08, unless, after giving effect to the Incurrence of such Liens, the aggregate amount (without duplication) of (a) the Indebtedness and other obligations secured by Liens on the property or
assets (which includes capital stock) of the Issuer and its Subsidiaries Incurred pursuant to the second sentence and clause (1) of the first paragraph of this Section 4.08 plus (b) the Indebtedness of the Issuer’s
Subsidiaries Incurred pursuant to clause (1) of the first paragraph of Section 4.08 shall not exceed the Permitted Amount at the time of the Incurrence of such Liens. 

Section 4.09. Repurchase of Notes upon a Change of Control Triggering Event. 

Upon the occurrence of a Change of Control Triggering Event, each Holder of the Notes will have the right to require the Issuer to
repurchase all or any part, equal to $2,000 and integral multiples of $1,000 in excess thereof, of that Holder’s Notes (a “Change of Control Offer”) on the terms set forth in this Indenture at an offer price in cash
equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest on the Notes to the applicable date of repurchase (the “Change of Control Payment”). Within 30 days following any Change
of Control Triggering Event, if the Issuer had not, prior to the Change of Control Triggering Event, sent a redemption notice, with a copy to the Trustee, for all the Notes in connection with an optional redemption permitted by Article 3 hereof, the
Issuer shall mail a notice (the “Change of Control Notice”), with a copy to the Trustee, to each registered Holder briefly describing the transaction or transactions that constitute a Change of Control Triggering Event and
offering to repurchase Notes on the date specified in such Change of Control Notice (the “Change of Control Payment Date”), pursuant to the procedures required by this Indenture and described in such notice (which procedures
shall be reasonably acceptable to the Trustee). Provided that a definitive agreement relating to the Change of Control is in place at the time the Change of Control Offer is made, the Change of Control Notice shall state that the Change of Control
Offer is conditional upon the occurrence of the relevant Change of Control Triggering Event. The Change of Control Notice shall also specify the date by which such notice was required to be given, the date by which the Holders have to make an
election to repurchase and the procedures therefor, and whether the Holders may withdraw their election to repurchase and the procedures therefor. 
  

 50 

 The Issuer shall comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any
securities laws or regulations conflict with the provisions of this Section 4.09, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under the provisions of this
Section 4.09 by virtue of such conflict. 
 On the Change of Control Payment Date, the Issuer shall, to the extent lawful:

  

	 	1.	accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer; 

 

	 	2.	deposit with the Paying Agent, by 10:00 a.m., New York City time, an amount equal to the Change of Control Payment in respect of all Notes or portions thereof properly
tendered; and 

  

	 	3.	deliver or cause to be delivered to the Trustee the notes so accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or
portions thereof being purchased by the Issuer. 

 The Issuer shall determine whether the Notes are properly
tendered, and the Trustee has no responsibility for, and may conclusively rely, upon the Issuer’s determination with respect thereto. Subject to receipt of funds by the Paying Agent, the Paying Agent shall promptly mail to each registered
Holder of Notes who has properly tendered Notes the Change of Control Payment for such Notes, and the Trustee will promptly authenticate, and mail, or cause to be transferred by book entry, to each Holder a new Note of the same series as and equal
in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each such new Note will be in a principal amount of $2,000 and integral multiples of $1,000 in excess thereof. Any Note so accepted for payment
will cease to accrue interest on and after the Change of Control Payment Date. 
 Notwithstanding the foregoing, the Issuer
shall not be required to make a Change of Control Offer upon a Change of Control Triggering Event if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this
Section 4.09 applicable to a Change of Control Offer made by the Issuer and purchases all Notes properly tendered and not withdrawn under the Change of Control Offer. 

The Issuer may make a Change of Control Offer in advance of a Change of Control Triggering Event, and conditional upon the occurrence of
such Change of Control Triggering Event, if a definitive agreement is in place for the Change of Control Triggering Event at the time of making the Change of Control Offer. 

Section 4.10. Termination of Certain Covenants.  

In the event that the Notes of a series receive a rating equal to or greater than BBB- by S&P and Baa3 by Moody’s or the
equivalent thereof under any new ratings system if the ratings system of either such agency shall be modified after the date hereof (with a stable or better 

 

 51 

 
outlook in the case of a rating equal to BBB- by S&P and Baa3 by Moody’s) (each such rating, an “Investment Grade Rating”), and notwithstanding that the Notes of
such series may later cease to have an Investment Grade Rating from either S&P or Moody’s or both, the Issuer and its Subsidiaries shall be released from their obligations to comply with Section 4.07 with respect to such series of
Notes. The Trustee shall be entitled to receive, and may conclusively rely upon, an Officers’ Certificate specifying that an Investment Grade Rating has occurred and stating that, pursuant to this Section 4.10, the Issuer has been released
from its obligations to comply with Section 4.07. 
 ARTICLE 5. 

SUCCESSORS 

Section 5.01. Issuer following the Merger. 

Concurrently with the closing of the Merger, Frontier shall execute and deliver to the Trustee a supplemental indenture substantially in
the form of Annex A hereto, pursuant to which Frontier shall expressly assume the due and punctual payment of the principal of (and premium, if any) and interest on all of the Notes of each series and the performance and observance of all of the
covenants and conditions of this Indenture to be performed or observed by the Issuer. 
 Section 5.02.
Limitation on Mergers, Consolidations and Sales of Assets. 
 Other than in connection with the Transactions,
the Issuer may not consolidate or merge with or into, or sell, lease or convey all or substantially all of its assets in any one transaction or series of transactions to any other Person, unless: 

(a) the resulting, surviving or transferee Person is either the Issuer or is a corporation organized under the laws of the United States,
any state or the District of Columbia and, if other than the Issuer, expressly assumes by supplemental indenture the due and punctual payment of the principal of (and premium, if any) and interest on all of the Notes of each series and the
performance and observance of all of the covenants and conditions of this Indenture to be performed or observed by the Issuer; and 

(b) immediately after giving effect to the transaction, with respect to each series of Notes issued hereunder, no Event of Default or
Default has occurred and is continuing. 
 Section 5.03. Successor Corporation To Be Substituted.

 In case of (i) the Merger and (ii) any consolidation or merger or any sale, lease or conveyance of all or
substantially all of the property of the Issuer permitted under Section 5.02, and upon the assumption by the successor corporation, by supplemental indenture executed and delivered to the Trustee, of the due and punctual payment of the
principal of, premium, if any, and interest, if any, on all of the Notes of each series issued hereunder and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed or observed by the
Issuer, such successor corporation shall succeed to and be substituted for the Issuer, with the same effect as if it had been an original party to this Indenture, and the Issuer (including any intervening successor to the Issuer which shall have
become the 
  

 52 

 
obligor hereunder or on the Notes) shall, except in the case of a lease, be relieved of any further obligation under this Indenture and the Notes of each series issued hereunder; provided,
however, that in the case of a sale, lease or other conveyance of the property and assets of the Issuer (including any such intervening successor), the Issuer (including any such intervening successor) shall continue to be liable for its
obligations under this Indenture and each series of Notes to the extent, but only to the extent, of liability to pay the principal of, premium, if any, and interest, if any, on such Notes at the time, places and rate prescribed in this Indenture and
such Notes. Such successor corporation thereupon may cause to be signed, and may issue either in its own name or in the name of the Issuer, any or all of the Notes of any series issuable hereunder which theretofore shall not have been signed by the
Issuer and delivered to the Trustee; and, upon the order of such successor corporation instead of the Issuer and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver any
Notes of any series that previously shall have been signed and delivered by the officers of the Issuer to the Trustee for authentication, and any Notes of any series that such successor corporation thereafter shall cause to be signed and delivered
to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and benefit under this Indenture as the Notes of the same series theretofore or thereafter issued in accordance with the terms of this Indenture
as though all of such Notes had been issued at the date of the execution hereof. 
 In case of any such consolidation or merger
or any sale, lease, exchange or other disposition of all or substantially all of the property and assets of the Issuer, such changes in phraseology and form (but not in substance) may be made in the Notes, thereafter to be issued, as may be
appropriate. 
 Section 5.04. Opinion of Counsel To Be Given Trustee. 

The Trustee shall receive an Officers’ Certificate and Opinion of Counsel each stating that (i) the Merger or (ii) any
consolidation, merger, sale, lease or other conveyance referred to in Section 5.02, as applicable, and supplemental indenture required to be executed in connection with this Article 5, complies with the provisions of this Article 5 and
that all conditions precedent provided herein relating to any such transactions have been complied with, which Officers’ Certificate and Opinion of Counsel, in the case of the supplemental indenture to be delivered in connection with the
Merger, shall be an Officers’ Certificate and an Opinion of Counsel of Officers of Frontier and counsel to Frontier, respectively. 

ARTICLE 6. 

DEFAULTS AND REMEDIES 

Section 6.01. Event of Default Defined; Acceleration of Maturity; Waiver of Default. 

“Event of Default” with respect to each series of Notes, wherever used herein, means any one of the
following events which shall have occurred and be continuing (whatever the reason for such Event of Default), whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court
or any order, rule or regulation of any administrative or governmental body): 
 (a) default in the payment of any installment
of interest upon any Notes of such series as and when the same shall become due and payable, and continuance of such default for a period of 60 days; or 
  

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 (b) default in the payment of all or any part of the principal or premium (if any) on any of
the Notes of such series as and when the same shall become due and payable either at maturity, upon any redemption, by declaration or otherwise; or 

(c) failure on the part of the Issuer duly to observe or perform any other of the covenants or agreements on the part of the Issuer in
the Notes of such series or contained in this Indenture for a period of 90 days after the date on which written notice specifying such failure, stating that such notice is a “Notice of Default” hereunder and demanding that
the Issuer remedy the same, shall have been given by registered or certified mail, return receipt requested, to the Issuer by the Trustee, or to the Issuer and the Trustee by the Holders of at least 25% in aggregate principal amount of the
Outstanding Notes of such series; or 
 (d) without the consent of the Issuer a court having jurisdiction in the premises shall
enter a decree or order for relief in respect of the Issuer in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee,
sequestrator (or similar official) of the Issuer for any substantial part of its property or ordering the winding up or liquidation of its affairs, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or

 (e) the Issuer shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect, or consent to the entry of an order for relief in an involuntary case under any such law, or consent to the appointment or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar
official) of the Issuer or for any substantial part of its property, or make any general assignment for the benefit of creditors. 

If an Event of Default described in clause (a) or (b) occurs with respect to any series of Notes and is continuing, then, and
in each and every such case, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Notes of such series then Outstanding by notice in writing to the Issuer (and to the Trustee if given by the Holders of such
series of Notes), may declare the entire principal of the Notes of such series, and any unpaid interest accrued thereon, if any, to be due and payable immediately, and upon any such declaration, the same shall become immediately due and payable.

 If an Event of Default with respect to any series of Notes described in clause (c) above occurs and is continuing for a
period of 60 days after the date on which the underlying Default becomes an Event of Default, then, and in each and every such case, unless the principal of all of the Notes of such series shall have already become due and payable, either the
Trustee or the Holders of not less than 25% in aggregate principal amount of all of the Notes of such series then 
  

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Outstanding by notice in writing to the Issuer (and to the Trustee if given by Holders), may declare the entire principal of all of the Notes of such series then Outstanding, and any unpaid
interest accrued thereon, to be due and payable immediately, and upon such declaration, the same shall become immediately due and payable. 

If an Event of Default described in clause (d) or (e) above occurs and is continuing, then the principal amount of all the
Notes then Outstanding of each series, and any unpaid interest accrued thereon, shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 

The foregoing provisions are subject to the condition that if, at any time after the principal of the Notes of such series shall have
been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided: 

(x) the Issuer shall pay or shall deposit with the Trustee a sum sufficient to pay: 

 

	 	(i)	all matured installments of interest upon all the Notes of such series; and 

 

	 	(ii)	the principal of any and all Notes of such series which shall have become due otherwise than by acceleration; and 

 

	 	(iii)	interest upon such principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the Overdue
Rate applicable to such series to the date of such payment or deposit; and 

  

	 	(iv)	all amounts payable to the Trustee pursuant to Section 7.07; and 

(y) all Events of Default with respect to such series of Notes, other than the non-payment of the principal of Notes of such series which
shall have become due by acceleration, shall have been cured, waived or otherwise remedied as provided herein, 
 then, and in every such case,
the Holders of a majority in aggregate principal amount of the Notes of such series then Outstanding, by written notice to the Issuer and to the Trustee, may waive all defaults related to such series of Notes and rescind and annul such declaration
and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default relating to such series of Notes or shall impair any right consequent thereon. 

Section 6.02. Collection of Indebtedness by Trustee; Trustee May Prove Debt. 

The Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the Notes of any
series when such interest shall have become due and payable, and such default shall have continued for a period of 60 days, or (b) in case default shall be made in the payment of all or any part of the principal of any of the Notes of any
series when the same shall have become due and payable, whether upon maturity of such Notes or upon any redemption or by declaration or otherwise, then upon demand of the Trustee, the Issuer shall pay to the Trustee for the benefit of the Holders of
such Notes of such series the 
  

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whole amount that then shall have become due and payable on such Notes for principal and interest, as the case may be (with interest to the date of such payment upon the overdue principal and, to
the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the Overdue Rate applicable to such series of Notes); and in addition thereto, such further amount as shall be sufficient to cover
the costs and expenses of collection, and such other amount due the Trustee under Section 7.07 in respect of such Notes. 

Until such demand is made by the Trustee, the Issuer may pay the principal of and interest on such Notes to the registered Holders,
whether or not the Notes be overdue. 
 In case the Issuer shall fail forthwith to pay such amounts upon such demand, the
Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or
proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Issuer upon such Notes of such series and collect in the manner provided by law out of the property of the Issuer upon such Notes of such series,
wherever situated, all the moneys adjudged or decreed to be payable. 
 In case there shall be pending proceedings relative to
the Issuer under Bankruptcy Law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property, or in case of
any other similar judicial proceedings relative to the Issuer upon such Notes, or to the creditors or property of the Issuer, the Trustee, irrespective of whether the principal of such Notes shall then be due and payable as therein expressed or by
declaration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: 

(a) to file and prove a claim or claims for the whole amount of principal and interest, if any, owing and unpaid in respect of such
Notes, and, in the case of any judicial proceedings, to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for amounts payable to the Trustee under Section 7.07)
and of the Holders of such Notes allowed in any judicial proceedings relative to the Issuer upon such Notes, or to the creditors or property of the Issuer; and 

(b) unless prohibited by applicable law and regulations, or unless otherwise directed by a majority in aggregate principal amount of the
Notes of each affected series at the time Outstanding, to vote on behalf of the Holders of such Notes in any election of a receiver, assignee, trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency
proceedings, custodian or other person performing similar functions in respect of any such proceedings; and 
 (c) to collect
and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Holders of such Notes and of the Trustee on their behalf; and any trustee, receiver, or
liquidator, custodian or other similar official performing similar functions in respect of any such proceedings is hereby authorized by each of the Holders of such Notes to make payments to the Trustee, and, in the event that the Trustee shall
consent to the making of payments directly to the Holders of such Notes, to pay to the Trustee its costs and expenses of collection and all other amounts due to it pursuant to Section 7.07. 

 

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 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or vote for or accept or adopt on behalf of any Holder of such Notes any plan of reorganization, arrangement, adjustment or composition affecting such Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the
claim of any Holder of such Notes in any such proceeding, except as aforesaid in clause (b). 
 All rights of action and of
asserting claims under this Indenture, or under any of the Notes of any series, may be enforced by the Trustee without the possession of any of such Notes or the production thereof in any trial or other proceedings relative thereto, and any such
action or proceedings instituted by the Trustee shall be brought in its own name and as trustee of an express trust, and any recovery of judgment shall be awarded to the Trustee for ratable distribution to the Holders of such Notes in respect of
which such action was taken, after payment of all sums due to the Trustee under Section 7.07 in respect of such Notes. 

In any proceedings brought by the Trustee (and also any proceedings involving the interpretation of any provision of this Indenture to
which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Notes of such series in respect to which such action was taken, and it shall not be necessary to make any Holders of such Notes parties to any such
proceedings. 
 Section 6.03. Application of Proceeds. 

Any moneys collected by the Trustee pursuant to this Article 6 in respect of the Issuer’s obligations with respect to a series
of Notes, and during the continuance of an Event of Default following the completion of the Merger, any money or other property distributable in respect of the Issuer’s obligations under this Indenture, shall be applied in the following order
at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal or interest, upon presentation of the several Notes in respect of which monies have been collected and stamping (or otherwise noting)
thereon the payment, or issuing Notes of such series in reduced principal amounts in exchange for the presented Notes of like series if only partially paid, or upon surrender thereof if fully paid: 

FIRST: To the payment of all amounts due to the current Trustee and then to each predecessor Trustee under
Section 7.07 in respect to the Notes of such series; 
 SECOND: In case the principal of the Outstanding
Notes of such series in respect of which moneys have been collected shall not have become and be then due and payable, to the payment of interest on such Notes in default in the order of the maturity of the installments on such interest, with
interest (to the extent that such interest has been collected by the Trustee and is permitted by applicable law) upon the overdue installments of interest at the Overdue Rate applicable to such Notes, such payments to be made ratably to the persons
entitled thereto, without discrimination or preference; 
 THIRD: In case the principal of the Outstanding Notes
of such series in respect of which moneys have been collected or money or other property shall be distributable shall 

 

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have become and shall be then due and payable, to the payment of the whole amount then owing and unpaid upon such Notes for principal and interest, with interest upon the overdue principal, and
(to the extent that such interest has been collected by the Trustee and is permitted by applicable law) upon the overdue installations of interest at the Overdue Rate applicable to such Notes; and in case such moneys shall be insufficient to pay in
full the whole amount so due and unpaid upon the Notes of such series, then to the payment of such principal and interest, without preference or priority of principal over interest, or of interest over principal, or of any installment of interest
over any other installment of interest or of any such Note over any other such Note, ratably to the aggregate of such principal and accrued and unpaid interest; and 

FOURTH: To the payment of the remainder, if any, to the Issuer or any other person lawfully entitled thereto. 

Section 6.04. Suits for Enforcements. 

In case an Event of Default with respect to any series of Notes has occurred, has not been waived and is continuing, the Trustee may in
its discretion proceed to protect and enforce the rights vested in it by this Indenture and such Notes by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in
equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or such Notes or in aid of the exercise of any power granted in this Indenture or such Notes or to enforce any other
legal or equitable right vested in the Trustee by this Indenture, such Notes or by law. 
 Section 6.05.
Restoration of Rights on Abandonment of Proceedings. 
 In case the Trustee or any Holder shall have proceeded
to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Trustee or such Holder, then and in every such case the Issuer, the Trustee and
the Holders shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Issuer, the Trustee and the Holders shall continue as though no such proceedings had been taken. 

Section 6.06. Limitation on Suits by Noteholders. 

No Holder of any Note of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any
action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or with respect to this Indenture or such Note, or for the appointment of a trustee, receiver, liquidator, custodian or other similar official or for any other
remedy hereunder or thereunder, unless (a) such Holder previously shall have given to the Trustee written notice of an Event of Default with respect to the Notes of that series and of the continuance thereof, as hereinbefore provided, and
(b) the Holders of not less than 25% in aggregate principal amount of the Notes of such series then Outstanding shall have made written request upon the Trustee to institute such action or proceeding in its own name and as Trustee hereunder and
shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and (c) the Trustee for 

 

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60 days after its receipt of such notice, request and offer of indemnity shall have failed to institute any such action or proceeding, and (d) no direction inconsistent with such
written request shall have been given to the Trustee pursuant to Section 6.09. For the protection and enforcement of the provisions of this Section, each and every Holder of Notes of such series and the Trustee shall be entitled to such relief
as can be given either at law or in equity. 
 Section 6.07. Right of Noteholders To Institute Certain
Suits. 
 Notwithstanding any other provision in this Indenture and any provision of any Note, the right of any Holder
of any Note to receive payment of the principal of, premium, if any, and interest, if any, on such Note, on or after the respective due dates expressed in such Note, or upon redemption, by declaration, repayment or otherwise, or to institute 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. Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default. 

No right or remedy herein conferred upon or reserved to the Trustee or to the Holders of Notes of any series is intended to be exclusive
of any other right or remedy and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion
or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

No delay or omission of the Trustee or of any Holder of such Notes to exercise any right or remedy accruing upon any Event of Default
with respect to any such series of Notes occurring and continuing as aforesaid shall impair any such right or remedy or shall be construed to be a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this
Indenture, any Note or law to the Trustee or to the Holders of such Notes may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or, subject to Section 6.06, by the Holders of such Notes. 

Section 6.09. Control by Holders of Notes. 

The Holders of a majority in aggregate principal amount of the Notes of each affected series at the time Outstanding shall have the right
to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such series of Notes by this Indenture; provided that such
direction shall not be otherwise than in accordance with law and the provisions of this Indenture and shall not expose the Trustee to personal liability; and provided further, that (subject to the provisions of Section 7.01) the Trustee
shall have the right to decline to follow any such direction (a) if the Trustee, being advised by counsel, shall determine that the action or proceeding so directed may not lawfully be taken; or (b) if the Trustee by its board of
directors, the executive committee or a trust committee of directors or Responsible Officers of the Trustee shall determine in good faith that the action or proceedings so directed would involve the Trustee in personal liability; or (c) if the
Trustee in good faith shall so determine that the actions or forbearances specified in or pursuant to such direction would be unduly prejudicial to the interests of the Holders of the Notes of such series not joining in the giving of said direction.

  

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Nothing in this Indenture shall impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee that is not inconsistent with such direction or directions by
Noteholders. 
 Section 6.10. Waiver of Past Defaults. 

Prior to the declaration of acceleration of the maturity of the Notes of any series as provided in Section 6.01, the Holders of a
majority in aggregate principal amount of the Notes of such series at the time Outstanding may on behalf of the Holders of all of the Notes of such series waive any past default or Event of Default described in Section 6.01 and its
consequences, except a default in respect of a covenant or provision of this Indenture or of such series of Notes which cannot be modified or amended without the consent of the Holder of each Note of such series affected. In the case of any such
waiver, the Issuer, the Trustee and the Holders of all of the Notes of such series shall be restored to their former positions and rights hereunder, respectively, and such default shall cease to exist and be deemed to have been cured and not to have
occurred for purposes of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 6.11. Right of Court To Require Filing of Undertaking To Pay Costs. 

All parties to this Indenture agree, and each Holder of any Note by his acceptance thereof shall be deemed to have agreed, that any court
may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of
the claims or defenses made by such party litigant; but the provisions of this Section 6.11 shall not apply to any suit instituted by the Trustee, to any suit instituted by any Noteholder or group of Noteholders holding in the aggregate more
than 10% in aggregate principal amount of the Notes of any series, or to any suit instituted by any Noteholder for the enforcement of the payment of the principal of or interest on any Note on or after the due date expressed in such Note or any date
fixed for redemption. 
 ARTICLE 7. 

TRUSTEE 

Section 7.01. Duties of Trustee. 

(a) If an Event of Default with respect to any series of Notes has occurred and is continuing, the Trustee shall exercise such of the
rights and powers vested in it by this Indenture, and use the same degree of care and skill in such exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

 

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 (b) Except during the continuance of an Event of Default with respect to any series of
Notes: 
 (1) the duties of the Trustee with respect to any series of Notes shall be determined solely by the
express provisions of this Indenture, and the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and

 (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any certificates or opinions which by any
provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the 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). 

(c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that: 
 (1) this paragraph does not limit the effect of paragraphs (b) and (e) of
this Section; 
 (2) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(3) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with
a direction received by it pursuant to Section 6.09 hereof. 
 (d) Whether or not therein expressly so provided, every
provision of this Indenture that in any way relates to the Trustee is subject to this Section 7.01. 
 (e) No provision of
this Indenture shall require the Trustee to expend or risk its own funds or incur any liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing
that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. The Trustee shall be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holder,
unless such Holder shall have offered to the Trustee security and indemnity satisfactory to it against the cost, expenses and liabilities which might be incurred by it in compliance with such request or direction. 

(f) The Trustee shall not be liable for interest on, or the investment of, any money received by it except as the Trustee may agree in
writing with the Issuer. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
  

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 Section 7.02. Rights of Trustee. 

Subject to TIA § 315: 

(a) The Trustee may conclusively rely upon and shall be protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee
need not investigate any fact or matter stated in any such document. 
 (b) Any request or direction of the Issuer mentioned
herein shall be sufficiently evidenced by an Issuer Request or Issuer Order and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution. 

(c) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both. The
Trustee shall not be liable for any action it takes, suffers or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. The Trustee may consult with counsel, and the advice of such counsel or any Opinion of
Counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(d) The Trustee shall not be liable for any action it takes, suffers or omits to take in good faith that it believes to be authorized or
within the discretion or rights or powers conferred upon it by this Indenture. 
 (e) Unless otherwise specifically provided in
this Indenture, any demand, request, direction or notice from the Issuer shall be sufficient if signed by an Officer of the Issuer. 

(f) The Trustee shall not be bound to make investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such
facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent or attorney at the sole cost
of the Issuer and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(g) The Trustee shall not be deemed to have notice of any Default or Event of Default with respect to any series of Notes unless a
Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of such a Default or Event of Default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee from the Issuer or the
Holders of 25% in aggregate principal amount of the Outstanding Notes of such series, and such notice references the specific Default or Event of Default, the series of Notes and this Indenture. 

(h) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder.

  

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 (i) The Trustee shall have no duty to inquire as to the performance of the Issuer’s
covenants herein. 
 (j) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either
directly or by or through agents or attorneys, and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. 

(k) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or
direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with
such request or direction. 
 (l) The rights, privileges, protections, immunities and benefits given to the Trustee, including,
without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

(m) Anything in this Indenture notwithstanding, in no event shall the Trustee be liable for special, indirect, punitive or consequential
loss or damage of any kind whatsoever (including but not limited to loss of profit), even if the Trustee has been advised as to the likelihood of such loss or damage and regardless of the form of action. 

(n) The Trustee shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder
by reason of any occurrence reasonably beyond the control of the Trustee (including, but not limited to, any act or provision of any present or future law or regulation or governmental authority, any act of God, war, terrorism or other catastrophe,
or the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility). 
 (o) The Trustee may
request that the Issuer deliver an Officers’ Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be
signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded. 

(p) The permissive right of the Trustee to take or refrain from taking action hereunder shall not be construed as a duty. 

Section 7.03. Individual Rights of Trustee. 

The Trustee, Registrar, Paying Agent or Agent in its individual or any other capacity may become the owner or pledgee of Notes of any
series and may otherwise deal with the Issuer or any Affiliate of the Issuer with the same rights it would have if it were not Trustee, Registrar, Paying Agent or Agent. 
  

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 Section 7.04. Trustee’s Disclaimer. 

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

Section 7.05. Notice of Defaults. 

If a Default or Event of Default with respect to any series of Notes occurs and is continuing and if it is known to the Trustee, the
Trustee shall mail to Holders of such Notes, as their names and addresses appear in the Security Register, a notice of the Default or Event of Default within 90 days after it occurs, unless such default shall have been cured or waived. Except in the
case of a Default or Event of Default in payment of principal of, premium, if any, or interest on any such Note, the Trustee may withhold and shall be protected in withholding the notice if and so long as its Responsible Officers in good faith
determine that withholding the notice is in the interests of the Holders of such Notes. In the case of any Default of the character specified in Section 6.01(c) no such notice to Holders shall be given until at least 90 days after the
occurrence thereof. 
 Section 7.06. Reports by Trustee to Holders. 

Within 60 days after each May 15 beginning with the May 15 following the date of this Indenture, and for so long as Notes
of any series remain Outstanding, the Trustee shall mail to the Holders of such Notes, as their names and addresses appear in the Security Register, a report dated as of such reporting date, in accordance with, and to the extent required under, TIA
§ 313(a), and the Trustee shall otherwise comply with TIA § 313. 
 A copy of each report at the time of its
mailing to the Holders shall be mailed to the Issuer and filed with the Commission and each stock exchange on which Notes of a series are listed in accordance with TIA § 313(d). The Issuer shall promptly notify the Trustee when the Notes
of any series are listed on any stock exchange and any delisting thereof. 
 Section 7.07. Compensation and
Indemnity. 
 The Issuer, or such other Person acceptable to the Trustee, shall pay to the Trustee from time to time
reasonable compensation for its acceptance of this Indenture and services hereunder. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer, or such other Person acceptable to the
Trustee, shall reimburse the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation,
disbursements and expenses of the Trustee’s agents and counsel. 
  

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 The Issuer, or such other Person acceptable to the Trustee, shall indemnify the Trustee or
any predecessor Trustee against and hold each harmless against any and all losses, claims, damages, penalties, fines, liabilities or expenses, including incidental and out-of-pocket expenses and reasonable attorneys’ fees (for purposes of this
Article, “losses”) 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 Issuer (including this
Section 7.07) and defending itself against any claim (whether asserted by the Issuer or any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent
such losses may be attributable to its gross negligence, willful misconduct or bad faith. The Trustee shall notify the Issuer promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuer shall not relieve the
Issuer of its obligations under this Section 7.07. The Issuer, or such other Person acceptable to the Trustee, shall defend the claim, and the Trustee shall cooperate in the defense. The Trustee may have separate counsel if the Trustee has been
reasonably advised by counsel that there may be one or more legal defenses available to it that are different from or additional to those available to the Issuer or in the reasonable judgment of such counsel it is advisable for the Trustee to engage
separate counsel, and the Issuer shall pay the reasonable fees and expenses of such counsel. The Issuer need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. The Issuer need not reimburse any
expense or indemnify against any loss incurred by the Trustee through the Trustee’s own gross negligence, willful misconduct or bad faith. 

The obligations of the Issuer under this Section 7.07 shall survive the satisfaction and discharge of this Indenture, the
resignation or removal of the Trustee and payment in full of the Notes of all series issued pursuant to this Indenture through the expiration of the applicable statute of limitations. 

To secure the Issuer’s payment obligations in this Section, the Trustee shall have a Lien prior to the Notes of each series on all
money or property held or collected by the Trustee, except that held in trust to pay principal of, premium, if any, and interest on particular Notes of such series. Such Lien shall survive the satisfaction and discharge of this Indenture. For the
avoidance of doubt, this provision shall not (i) serve to create a Lien on the Escrowed Funds, as defined in the Escrow Agreement, or any property of Spinco or Frontier, or (ii) serve to create a Lien prior to the Merger. 

In addition to and without prejudice to its other rights hereunder, when the Trustee incurs expenses or renders services after an Event
of Default specified in Sections 6.01(d) or 6.01(e) with respect to any series of Notes, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of
administration under any Bankruptcy Law. 
 “Trustee” for purposes of this Section shall include any predecessor
Trustee; provided, however, that the gross negligence, willful misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 

 

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 Section 7.08. Replacement of Trustee. 

A resignation or removal of the Trustee and appointment of a successor Trustee with respect to any or all series of Notes shall become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.08. 
 The Trustee
with respect to any or all series of Notes may resign in writing at any time upon 30 days’ prior written notice to the Issuer and be discharged from the trust hereby created by so notifying the Issuer. If an instrument of acceptance by a
successor Trustee shall not have been delivered to the Trustee within 30 days after giving such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. The
Holders of a majority in aggregate principal amount of the then Outstanding Notes of any series of Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing. 

If, with respect to the applicable series of Notes: 

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

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

 (c) a custodian or public officer takes charge of the Trustee or its property; or 

(d) the Trustee becomes incapable of acting, 

then (i) the Issuer may remove the Trustee or (ii) subject to Section 6.11, any Holder who has been a bona fide Holder of a Note for at
least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. If the Trustee resigns or is removed or if a
vacancy exists in the office of Trustee for any reason with respect to any series of Notes (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee for each such affected
series of Notes (it being understood that any such successor Trustee may be appointed with respect to the Notes of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Notes of any particular
series). 
 If a successor Trustee with respect to any series of Notes does not take office within 30 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Issuer, 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 for the appointment of a
successor Trustee. 
 A successor Trustee with respect to any series of Notes shall execute, acknowledge and deliver a written
acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the resignation or removal of the retiring Trustee shall become effective without any further act, deed or conveyance, and the successor Trustee shall become vested
with all the rights, powers and duties of the retiring Trustee with respect to such series of Notes. The 
  

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successor Trustee shall mail a notice of its succession by first-class mail, postage prepaid, to the Holders of such series as their names and addresses appear in the Security Register. Each
notice shall include the name of the successor Trustee and the address of its principal corporate trust office. Subject to the Lien provided for in Section 7.07 hereof, the retiring Trustee shall promptly transfer all property held by it as
Trustee to the successor Trustee; provided, however, that all sums owing to the Trustee hereunder shall have been paid. Upon request of any such successor Trustee, the Issuer shall execute any and all instruments for more fully and
certainly vesting in and confirming to such successor Trustee all rights, powers and trusts. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 hereof shall continue
for the benefit of the retiring Trustee. 
 In the case of an appointment hereunder of a separate or successor Trustee with
respect to the Notes of one or more series (but not all series of Notes) Outstanding, the Issuer, any retiring Trustee and each successor or separate Trustee with respect to the Notes of any applicable series shall execute and deliver an indenture
supplemental hereto (1) which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of any retiring Trustee with respect to the Notes of any series as to which any such
retiring Trustee is not retiring shall continue to be vested in such retiring Trustee and (2) that shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the
trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustee co-trustee of the same trust and that each such separate, retiring or successor Trustee shall be
Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any such other 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 shall, if such successor Person is otherwise eligible hereunder, be the successor Trustee, without the execution or filing of any paper or any further act on the part of any of the parties hereto.
In case any Notes of any series shall have been authenticated, but not delivered by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Notes
of such series so authenticated with the same effect as if such successor Trustee had itself authenticated such Notes. 

Section 7.10. Eligibility; Disqualification. 

There shall at all times be a Trustee for each series of Notes hereunder that is a Person 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 (or a wholly-owned subsidiary of a bank or trust company, or of a bank holding company, the principal subsidiary of which is a bank or trust company having a combined capital and surplus of at least $50.0 million) as set forth
in its most recent published annual report of condition. 
  

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 The Trustee shall comply with the terms of TIA § 310(b), and to the extent
permitted thereby, the Trustee, in its capacity as trustee in respect of the Notes of any series, shall not be deemed to have a conflicting interest arising from its capacity as trustee in respect of the Notes of any other series, or any securities
of any series issued under the following indentures: the Indenture, dated as of December 22, 2006, between Frontier and The Bank of New York, as Trustee; the Indenture, dated as of March 23, 2007, between Frontier and The Bank of New York,
as Trustee with respect to the 6.625% Senior Notes due 2015; the Indenture, dated as of March 23, 2007, between Frontier and The Bank of New York, as Trustee with respect to the 7.125% Senior Notes due 2019; the Indenture, dated as of
April 9, 2009, between Frontier and The Bank of New York Mellon, as Trustee; the First Supplemental Indenture to the April 2009 Indenture, dated as of April 9, 2009, between Frontier and The Bank of New York Mellon, as Trustee; and, the
Second Supplemental Indenture to the April 2009 Indenture, dated as of October 1, 2009, between Frontier and The Bank of New York Mellon, as Trustee, or any indentures hereinafter entered into. 

Nothing herein shall prevent any application being made under the penultimate sentence of TIA § 310. 

Section 7.11. Preferential Collection of Claims Against Issuer. 

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.
Money Held in Trust. 
 Money held by the Trustee in trust hereunder need not be segregated from other funds
except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Issuer. 

ARTICLE 8. 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

Section 8.01. Option To Effect Legal Defeasance or Covenant Defeasance. 

The Issuer may, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, at any
time, elect to have either Sections 8.02 or 8.03 hereof applied to all Outstanding Notes of any series upon compliance with the conditions set forth below in this Article 8. 

Section 8.02. Legal Defeasance and Discharge. 

Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02 with respect to any
series of Notes, the Issuer shall, 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 each affected series on the date
the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, 
  

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Legal Defeasance means that the Issuer shall be deemed to have paid and discharged the entire Indebtedness represented by the Outstanding Notes of such series, which shall 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 of its obligations under such Notes and this Indenture with
respect to such series of Notes (and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments delivered to it by the Issuer acknowledging the same), except for the following provisions which shall survive with
respect to each such series of Notes until otherwise terminated or discharged hereunder: (a) the rights of Holders of Outstanding Notes of such series to receive payments in respect of the principal of, premium, if any, and interest on such
Notes when such payments are due from the trust referred to below; (b) the Issuer’s obligations with respect to the Notes of such series concerning mutilated, destroyed, lost or stolen Notes and the maintenance of an office or agency for
payment and money for security payments held in trust; (c) the rights, powers, trusts, duties and immunities of the Trustee, and the Issuer’s obligations in connection therewith; and (d) the Legal Defeasance provisions of this
Indenture. Subject to compliance with this Article 8, the Issuer may exercise its option under this Section 8.02 with respect to any series of Notes notwithstanding the prior exercise of its option under Section 8.03 hereof.

 Section 8.03. Covenant Defeasance. 

Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03 with respect to any
series of Notes, the Issuer shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from its obligations under the provisions contained in Sections 4.07, 4.08, 4.09 and 5.02 with respect to the Notes
of such series on and after the date the conditions set forth in Section 8.04 are satisfied with respect to such series (hereinafter, “Covenant Defeasance”), and such Notes shall thereafter be deemed not Outstanding for
the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed Outstanding for all other purposes hereunder (it being
understood that such Notes shall not be deemed Outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the Outstanding Notes of such series, the Issuer may omit to comply with and shall have no
liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant, or by reason of any reference in any such covenant to any
other provision herein or in any other document, and such omission to comply shall not constitute a Default or an Event of Default with respect to such series of Notes 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 Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in
Section 8.04 hereof Sections 6.01(d) and 6.01(e) hereof shall not constitute Events of Default or defaults hereunder with respect to such series of Notes. 

Section 8.04. Conditions to Legal or Covenant Defeasance. 

The following shall be the conditions to the application of either Section 8.02 or 8.03 hereof to the Outstanding Notes of any
series: 
 In order to exercise either Legal Defeasance or Covenant Defeasance with respect to any series of Notes: 

(a) the Issuer must irrevocably deposit, or cause to be deposited, with the Trustee, in trust, for the benefit of the Holders of the
Notes of such series, cash in U.S. dollars, non-callable U.S. Government Securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay, without
reinvestment, any installment of principal and premium, if any, and interest on the Outstanding Notes of such series on the applicable Stated Maturity thereof or on the applicable redemption date, as the case may be, in accordance with the terms of
this Indenture and the Notes of such series, and the Issuer must specify whether the Notes of such series are being defeased to maturity or to a particular redemption date; 

 

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 (b) in the case of Legal Defeasance with respect to any series of Notes, the Issuer must
deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling, or there has been a change in the applicable
United States federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the Outstanding Notes of such series will not recognize income, gain or loss for United States
federal income tax purposes as a result of such Legal Defeasance, and will be subject to United States 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 with respect
to such series of Notes had not occurred; 
 (c) in the case of Covenant Defeasance with respect to any series of Notes, the
Issuer must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that the Holders of the Outstanding Notes of such series will not recognize income, gain or loss for United States federal income tax purposes
as a result of such Covenant Defeasance of such series of Notes, and such Holders will be subject to United States 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 with respect to such series of Notes had not occurred; 
 (d) no Default or Event of Default with respect to such
series of Notes 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) or insofar as Events of Default from bankruptcy or
insolvency events are concerned, at any time in the period ending on the 91st day after the date of deposit; 
 (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 Issuer or by which the Issuer is bound; 

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

 

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 (g) the Issuer must deliver to the Trustee an Officers’ Certificate and an Opinion of
Counsel in the United States reasonably acceptable to the Trustee, each stating that the conditions precedent provided for or relating to Legal Defeasance or Covenant Defeasance, as applicable, in the case of the Officers’ Certificate, in
clauses (a) through (f) and, in the case of the Opinion of Counsel, in clauses (b) and (c) of this paragraph, have been complied with. 

Section 8.05. Deposited Money and Government Securities To Be Held in Trust; Other Miscellaneous Provisions.

 Subject to Section 8.06 hereof, all cash and/or non-callable U.S. Government Securities (including the proceeds thereof)
deposited with the Trustee (or other qualifying trustee, collectively, and solely for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the Outstanding Notes of any series shall be held
in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer 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 Issuer shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or
non-callable U.S. 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 such series. 
 Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver
or pay to the Issuer from time to time upon the request of the Issuer any money or non-callable U.S. Government Securities held by it as provided in Section 8.04 hereof that, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(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 of the affected series of Notes. 
 Section 8.06. Repayment
to Issuer. 
 Any cash or non-callable U.S. Government Securities deposited with the Trustee or any Paying Agent, or
then held by the Issuer, in trust for the payment of the principal of, premium, if any, or interest on any Note of any series and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall
be paid to the Issuer at its request or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured creditor, look only to the Issuer for payment thereof, and all liability of the
Trustee or such Paying Agent with respect to such cash and/or securities, and all liability of the Issuer as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to
make any such repayment, may at the expense of the Issuer cause to be published once, in The New York Times and The Wall Street Journal (national edition), notice that such cash and/or securities remain unclaimed and that, after a date
specified therein, which shall not be less than 30 days from the date of such notification or publication, any unclaimed balance of such cash and/or securities then remaining will be repaid to the Issuer. 

 

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 Section 8.07. Reinstatement. 

If the Trustee or Paying Agent is unable to apply any money or non-callable U.S. Government Securities to any series of Notes in
accordance with Sections 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 Issuer’s obligations under
this Indenture and such Notes shall be revived and reinstated as though no deposit had occurred pursuant to Sections 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 Sections
8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Issuer makes any payment of principal of, premium, if any, or interest on any Note of such series following the reinstatement of its obligations, the Issuer shall
be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

Section 8.08. Survival. 

The Trustee’s rights under Section 7.07 (including the Lien provided for therein) and this Article 8 shall
survive the satisfaction and discharge of the Notes, the termination for any reason of this Indenture and the resignation or removal of the Trustee. 

ARTICLE 9. 

SUPPLEMENTAL INDENTURES 

Section 9.01. Supplemental Indentures Without Consent of Noteholders. 

The Issuer (or, in the case of the supplemental indenture contemplated by Section 5.01, Frontier), when authorized by a Board
Resolution (which resolution may provide general terms or parameters for such action and may provide that the specific terms of such action may be determined in accordance with or pursuant to an Officers’ Certificate), and the Trustee, upon the
written request of the Issuer (or, in the case of the supplemental indenture contemplated by Section 5.01, Frontier), may from time to time and at any time, without the consent of any Holder, enter into an indenture or indentures supplemental
hereto (which shall conform to the provisions of the TIA as in force at the date of the execution thereof) for one or more of the following purposes: 

(a) to convey, transfer, assign, mortgage or pledge to the Trustee as security for the Notes of one or more series any property or
assets; 
 (b) to evidence the succession of another Person to the Issuer, or successive successions, and the assumption by the
successor Person of the covenants, agreements and obligations of the Issuer pursuant to Article 5 (including, without limitation, the supplemental indenture contemplated by Section 5.01); 

 

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 (c) to add to the covenants of the Issuer such further covenants, restrictions, conditions
or provisions as the Issuer and the Trustee shall consider to be for the protection of the Holders of all or any series of Notes (and if such covenants are to be for the benefit of less than all of the series of Notes, stating that such covenants
are expressly being included for the benefit of such series), and to make the occurrence, or the occurrence and continuance, of a default in any such additional covenants, restrictions, conditions or provisions an Event of Default permitting the
enforcement of all or any of the several remedies provided in this Indenture as herein set forth; provided, however, that in respect of any such additional covenant, restriction, condition or provision, such supplemental indenture (including,
without limitation, the supplemental indenture contemplated by Section 5.01) may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or may provide for
an immediate enforcement upon such an Event of Default or may limit the remedies available to the Trustee upon such an Event of Default or may limit the right of the Holders of a majority in aggregate principal amount of the Notes of such series to
waive such an Event of Default; 
 (d) to provide for the issuance of and establish the form and terms of additional Notes of
any series established by Section 2.01; 
 (e) 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 make any other provisions as the Issuer may deem necessary or desirable; provided,
however, that no such provisions shall materially adversely affect the legal rights of the Holders of any Notes of the applicable series; 

(f) to modify, eliminate or add to the provisions of this Indenture to such extent as shall be necessary to effect the qualification of
this Indenture under the TIA, or under any similar federal statute hereafter enacted, and to add to this Indenture such other provisions as may be expressly permitted by the TIA, excluding, however, the provisions referred to in TIA
§ 316(a)(2) as in effect at the date as of which this instrument was executed or any corresponding provision provided for in any similar federal statute hereafter enacted; 

(g) to evidence and provide for the acceptance of appointment hereunder by a successor trustee with respect to the Notes of any or all
series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, pursuant to the requirements of Section 7.08; and

 (h) to add guarantees with respect to the Notes of any series or to secure the Notes of any series. 

The Trustee is hereby authorized to join with the Issuer in the execution of any such supplemental indenture, to make any further
appropriate agreements and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be obligated to enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
  

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 Any supplemental indenture authorized by the provisions of this Section may be executed
without the consent of the Holders of any of the Notes then Outstanding, notwithstanding any of the provisions of Section 9.02. 

Section 9.02. Supplemental Indentures with Consent of Noteholders. 

With the consent of the Holders of not less than a majority in aggregate principal amount of the Notes of each series then Outstanding
affected by such supplemental indenture, the Issuer, when authorized by a Board Resolution (which resolution may provide general terms or parameters for such action and may provide that the specific terms of such action may be determined in
accordance with or pursuant to an Officers’ Certificate), and the Trustee may, upon the written request of the Issuer and receipt of the aforementioned Board Resolution and upon filing with the Trustee evidence of the consent of the Holders of
the Notes as aforesaid, from time to time and at any time, enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the TIA as in force at the date of execution thereof) for the purpose of adding any
provisions to or changing in any manner or eliminating or modifying in any way any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of the Notes of each such series;
provided, that no such supplemental indenture shall (a) extend the stated final maturity of the principal of any Note, or reduce the principal amount thereof or premium, if any, or reduce the rate or extend the time of payment of
interest, if any, thereon, or reduce or alter the method of computation of any amount payable on redemption, repayment or purchase by the Issuer thereof (or the time at which any such redemption, repayment or purchase may be made), or make the
principal thereof, or interest or premium, if any, thereon payable in any coin or currency other than that provided in such Notes, this Indenture or any supplemental indenture or in accordance with the terms of such Notes, or impair or affect the
right of any Noteholder to institute suit for the payment thereof or, if such Notes provide therefor, any right of repayment or purchase at the option of the Noteholder, without the consent of the Holder of each Note so affected, (b) reduce the
percentage of Notes of any series, the consent of the Holders of which is required for any such supplemental indenture, without the consent of the Holders of each Note so affected, whether such consenting Holders in the aggregate hold a majority in
principal amount of the Notes so affected or not or (c) modify any of the provisions of this Section 9.02, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived
without the consent of Holders of each Note so affected. 
 The Trustee shall join with the Issuer in the execution of such
supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may at its discretion, but shall not be obligated to, enter into such
supplemental indenture. 
 It shall not be necessary for the consent of the Noteholders under this Section 9.02 to approve
the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 

Promptly after the execution by the Issuer and the Trustee of any supplemental indenture pursuant to the provisions of this
Section 9.02, the Issuer (or the Trustee at the request and expense of the Issuer) shall give notice thereof to the Holders of then Outstanding Notes affected 

 

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thereby, as provided in Section 11.02. Any failure of the Issuer to give such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such
supplemental indenture. 
 Section 9.03. Effect of Supplemental Indenture. 

Upon the execution of any supplemental indenture pursuant to the provisions hereof, this Indenture shall be and shall be deemed to be
modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Issuer and the Holders of Notes of each series affected thereby shall
thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be and shall be deemed to be part of the terms and
conditions of this Indenture for any and all purposes. 
 Section 9.04. Documents To Be Given to
Trustee. 
 The Trustee shall be entitled to receive an Officers’ Certificate and an Opinion of Counsel as
conclusive evidence that any supplemental indenture executed pursuant to this Article 9 complies with the applicable provisions of this Indenture and that all conditions precedent to the execution and delivery of such supplemental indenture
have been satisfied. 
 Section 9.05. Notation on Securities in Respect of Supplemental Indentures.

 Notes of any series authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions
of this Article 9 may bear a notation in form approved by the Trustee for such series as to any matter provided for by such supplemental indenture or as to any action taken by Noteholders. If the Issuer or the Trustee shall so determine, new
Notes of any series so modified as to conform, in the opinion of the Trustee and the Issuer, to any modification of this Indenture contained in any such supplemental indenture may be prepared and executed by the Issuer, authenticated by the Trustee
and delivered in exchange for the Notes of such series then Outstanding. 
 Section 9.06. Conformity with the
TIA. 
 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the TIA as
then in effect if this Indenture shall then be qualified under the TIA. 
 ARTICLE 10. 

SATISFACTION AND DISCHARGE 

Section 10.01. Satisfaction and Discharge. 

The obligations of the Issuer pursuant to any series of Notes shall be discharged and shall cease to be of further effect, except as to
surviving rights of registration of transfer or exchange of the Notes of such series, as to all Notes of such series issued hereunder, and the Trustee, on demand and at the expense of the Issuer, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture, when either: 
  

	 	(i)	all Notes of such series that have been previously authenticated and delivered (except lost, stolen or destroyed Notes that have been replaced or paid, and Notes for
whose payment money has previously been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from the trust) have been delivered to the Trustee for cancellation; or

  

 75 

	 	(ii)	(A) all Notes of such series that have not been previously delivered to the Trustee for cancellation, have become due and payable by their terms, will become due
and payable at their stated maturity within one year, have been called for redemption, or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the
name and at the expense of the Issuer, and the Issuer has irrevocably deposited or caused to be deposited with the Trustee, as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars, non-callable U.S. Government Securities,
or a combination thereof, in such amounts as shall be sufficient without consideration of any reinvestment of interest, to pay and discharge the entire indebtedness on the Notes of such series not previously delivered to the Trustee for cancellation
or redemption for principal, premium, if any, and interest on the Notes of such series to the date of deposit, in the case of Notes that have become due and payable, or to the stated maturity or redemption date, as the case may be; (B) the
Issuer has paid all other sums payable by the Issuer with respect to the Notes of such series under this Indenture and the Notes; and (C) the Issuer has delivered irrevocable instructions to the Trustee to apply the deposited money toward the
payment of the Notes of such series at their stated maturity or on the redemption date, as the case may be; 

and, in the case of either clause (i) or (ii): 

(a) no Default or Event of Default shall have occurred and be continuing with respect to such series of Notes on the date of such deposit
or shall occur as a result of such deposit and such deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which the Issuer is a party or by which the Issuer is bound; and 

(b) the Issuer shall have delivered to the Trustee an Officers’ Certificate and Opinion of Counsel stating that all conditions
precedent relating to the satisfaction and discharge of such series of Notes have been satisfied. 
 Notwithstanding the
satisfaction and discharge of this Indenture, the obligations of the Issuer to the Trustee under Section 7.07 shall survive. 

Section 10.02. Deposited Cash and U.S. Government Securities To Be Held in Trust; Other Miscellaneous
Provisions. 
 Subject to Section 10.03, all cash and/or non-callable U.S. Government Securities (including the
proceeds thereof) deposited with the Trustee (or other qualifying trustee, 
  

 76 

 
collectively for purposes of this Section 10.02, the “Trustee”) pursuant to Section 10.01 hereof in respect of the Outstanding Notes of such series to be satisfied and
discharged in accordance with Section 10.01 shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer
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 cash and/or securities need not be segregated from other
funds except to the extent required by law. 
 Section 10.03. Repayment to Issuer. 

Any cash or non-callable U.S. Government Securities deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust
for the payment of the principal of, premium, if any, or interest on any Note of any series and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall be paid to the Issuer at its
request or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured creditor, look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent
with respect to such cash and/or securities, and all liability of the Issuer as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at
the expense of the Issuer cause to be published once, in The New York Times and The Wall Street Journal (national edition), notice that such cash and/or securities remain unclaimed and that, after a date specified therein, which shall
not be less than 30 days from the date of such notification or publication, any unclaimed balance of such cash and/or securities then remaining will be repaid to the Issuer. 

ARTICLE 11. 

MISCELLANEOUS 

Section 11.01. TIA Controls. 

If any provision of this Indenture limits, qualifies or conflicts with another provision that is required or deemed to be included in
this Indenture by the TIA, such required or deemed provision shall control. 
 Section 11.02. Notices.

 Any request, demand, authorization, direction, notice, consent, waiver or communication by the Issuer or the Trustee to the
other is duly given if in writing and delivered in person or mailed by first-class mail (registered or certified, return receipt requested), facsimile transmission or overnight air courier guaranteeing next-day delivery, to the other’s address:

 If to the Issuer prior to the effective time of the Merger: 

New Communications Holdings Inc. 

3900 Washington Street, 2nd Floor 

Wilmington, DE 19802 

Fax: 302-761-4245 

Attn: Janet Garrity, Treasurer 
  

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 with a copy (provided, however, that any such copy is being provided as a matter
of accommodation only, and the failure to deliver such copy or any defect in same shall not affect the validity of the request, demand, authorization, direction, notice, consent, waiver or communication to which any such
copy relates) to: 
 Frontier Communications Corporation 

3 High Ridge Park 

Stamford, Connecticut 06905 

Fax: 203-614-4602 

Attn: Hilary E. Glassman, Esq., Senior Vice President, 

General Counsel and Secretary 

and a copy (provided, however, that any such copy is being provided as a matter of accommodation only, and the failure to
deliver such copy or any defect in same shall not affect the validity of the request, demand, authorization, direction, notice, consent, waiver or communication to which any such copy relates) to: 

Debevoise & Plimpton LLP 

919 Third Avenue 

New York, NY 10022 

Attention: Steven J. Slutzky 

and a copy (provided, however, that any such copy is being provided as a matter of accommodation only, and the failure to
deliver such copy or any defect in same shall not affect the validity of the request, demand, authorization, direction, notice, consent, waiver or communication to which any such copy relates) to: 

Cravath, Swaine & Moore LLP 

825 Eighth Avenue 

New York, NY 10019 

Attention: Craig F. Arcella 

If to the Issuer from and after the effective time of the Merger: 

Frontier Communications Corporation 

3 High Ridge Park Stamford, Connecticut 06905 

Fax: 203-614-4602 

Attn: Hilary E. Glassman, Esq., Senior Vice President, 

General Counsel and Secretary 
  

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 with a copy (provided, however, that any such copy is being provided as a matter
of accommodation only, and the failure to deliver such copy or any defect in same shall not affect the validity of the request, demand, authorization, direction, notice, consent, waiver or communication to which any such
copy relates) to: 
 Cravath, Swaine & Moore LLP 

825 Eighth Avenue 

New York, NY 10019 

Attention: Craig F. Arcella 

If to the Trustee: 

The Bank of New York Mellon 

101 Barclay Street 

Floor 8 West 

New York, New York 10286 

Attention: Corporate Trust Division – Corporate Finance Unit 

Telecopier No.: (212) 815-5704/5707 

The Issuer or the Trustee, by notice to the other, may designate additional or different addresses for subsequent notices or
communications. 
 All notices and communications (other than those sent to the Trustee or Holders) shall 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 is acknowledged, if sent by facsimile transmission; and the next Business Day after
timely delivery to the courier, if sent by overnight air courier guaranteeing next-day delivery. 
 Any notice or communication
to a Holder shall be mailed by first-class mail, postage prepaid, or by overnight air courier guaranteeing next-day delivery to its address shown on the Security Register. Any notice or communication shall also be so mailed to any Person described
in TIA § 313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect therein shall not affect its sufficiency with respect to other Holders. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the
addressee receives it, except in the case of notices or communications given to the Trustee, which shall be effective only upon actual receipt by the Trustee at its Corporate Trust Office. 

If the Issuer mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time.

 Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to
receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any
action taken in reliance upon such waiver. 
  

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 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 Issuer, 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 Issuer to the Trustee to take any action under any provision of this Indenture, the Issuer shall
furnish to the Trustee: 
 (a) an Officers’ Certificate (which shall include the statements set forth in Section 11.05
hereof) stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(b) an Opinion of Counsel (which shall include the statements set forth in Section 11.05 hereof) stating that, in the opinion of
such counsel, all such conditions precedent have been complied with; provided, however, that no such Opinion of Counsel shall be required to be delivered in connection with the request for the authentication and delivery of the Notes on the
date hereof. 
 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)) shall comply with the provisions of TIA § 314(e) and shall include: 

(a) a statement that the Person making such certificate or opinion has read such covenant or condition and the definitions in the
Indenture relating thereto; 
 (b) 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; 
 (c) 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 covenants or conditions have been complied with; and 

(d) a statement as to whether or not, in the opinion of such Person, such conditions or covenants have been complied with. 

With respect to matters of fact, an Opinion of Counsel may rely on an Officers’ Certificate, certificates of public officials or
reports or opinions of experts. 
 Section 11.06. Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary
that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only 

 

 80 

 
one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an
opinion as to such matters in one or several documents. 
 Any certificate or opinion of an officer of the Issuer may be based,
in so far as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect
to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or opinion (including any Opinion of Counsel) may be based, in so far as it relates to factual matters, upon a certificate or opinion of, or
representations by, an officer or officers of the Issuer stating that the information with respect to such factual matters is in the possession of the Issuer, unless such Person giving such certificate, opinion or Opinion of Counsel knows, or in the
exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 

Where any person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or
other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Section 11.07. Acts of Holders. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken
by Holders of the outstanding Notes of all series or more than one series, as the case may be, may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed
in writing; and except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee, and, where it is hereby expressly required, to the Issuer. Proof of execution of any
such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of
such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such
execution is by an officer of a corporation or a member of a partnership, on behalf of such corporation or partnership, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any
such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

(c) The ownership of the Notes shall be proved by the Security Register. 

(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Note shall bind the
Holder of every Note issued upon the transfer thereof or in exchange therefor or in lieu thereof, in respect of anything done or suffered to be done by the Trustee or the Issuer in reliance thereon, whether or not notation of such action is made
upon such Note. 
  

 81 

 Section 11.08. 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 11.09. No Personal Liability of Directors,
Officers, Employees and Stockholders. 
 No past, present or future director, officer, employee, incorporator or
stockholder of the Issuer, as such, shall have any liability for any obligations, covenants or agreements of the Issuer under the Notes of any series or 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 of any series. The waiver and release may not be effective to waive or
release liabilities under the federal securities laws. 
 Section 11.10. Governing Law; Waiver of Jury
Trial. 
 THIS INDENTURE AND EACH NOTE ISSUED HEREUNDER SHALL BE DEEMED TO BE A CONTRACT UNDER THE LAWS OF THE STATE OF
NEW YORK AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF SUCH STATE. EACH OF THE ISSUER AND 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 IT MAY HAVE TO TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

Section 11.11. No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Issuer or its Subsidiaries or of any other
Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 11.12.
Notes in a Specified Currency Other than Dollars. 
 Unless otherwise specified, with respect to a particular
series of Notes, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal amount of Notes of all series or all series affected by a particular action at the time Outstanding and,
at such time, there are Outstanding any Notes of any series which are denominated in a Specified Currency other than U.S. dollars, then the principal amount of Notes of such series which shall be deemed to be Outstanding for the purpose of taking
such action shall be that amount of U.S. dollars that could be obtained for such amount of such 
  

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Specified Currency at the Market Exchange Rate. For purposes of this Section 11.12, “Market Exchange Rate” shall mean the noon U.S. dollar buying rate in New York City for cable
transfers of the Specified Currency published by the Federal Reserve Bank of New York. If such Market Exchange Rate is not available for any reason with respect to such Specified Currency, such quotation of the Federal Reserve Bank of New York or
such other quotations as appropriate shall be used. The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Notes of a series denominated in a Specified Currency other than U.S. dollars in connection
with any action taken by Holders of Notes pursuant to the terms of this Indenture. 
 In no event will the Trustee have any duty
or liability regarding the Market Exchange Rate or any alternative determination provided for in the preceding paragraph. 

Section 11.13. Successors. 

All covenants and agreements of the Issuer in this Indenture and the Notes shall bind its successors and assigns. All covenants and
agreements of the Trustee in this Indenture shall bind its successors and assigns. 
 Section 11.14.
Severability. 
 In case any provision in this Indenture or in the Notes of any series shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 11.15. Counterpart Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent
the same agreement. 
 Section 11.16. Table of Contents, Headings, etc. 

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

Section 11.17. Qualification of this Indenture. 

The Trustee shall be entitled to receive from the Issuer any such Officers’ Certificates, Opinions of Counsel or other documentation
as it may reasonably request in connection with any such qualification of this Indenture under the TIA. 

Section 11.18. Issuer-Owned Notes Disregarded. 

In determining whether the Holders of the requisite aggregate principal amount of any series of Notes have concurred in any demand,
request, notice, direction, consent or waiver under this Indenture, Notes which are owned by the Issuer with respect to which such determination is being made or by any person directly or indirectly controlling or controlled by or under direct or

  

 83 

 
indirect common control with the Issuer with respect to which such determination is being made shall be disregarded and deemed not to be Outstanding for the purpose of any such determination;
provided, that for the purposes of determining whether the Trustee shall be protected in relying on any such demand, request, notice, direction, consent or waiver only Notes which the Trustee knows are so owned shall be so disregarded. Notes
so owned which have been pledged in good faith may be regarded as Outstanding for the purposes of this Section 11.18 if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to vote such Notes and that the
pledgee is not a person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be
full protection to the Trustee. 
 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of
the date first above written. 
 [Signatures on following pages] 

 

 84 

			
	ISSUER:
	
	 NEW COMMUNICATIONS HOLDINGS INC.

		
	 By:
	 	 /s/ J. Goodwin Bennett

	 Name:
	 	J. Goodwin Bennett
	 Title:
	 	Vice President

  

 85 

			
	TRUSTEE:
	
	 THE BANK OF NEW YORK MELLON, as Trustee

		
	 By:
	 	 /s/ Timothy W. Casey

	 Name:
	 	Timothy W. Casey
	 Title:
	 	Senior Associate

  

 86 

 EXHIBIT A 

FORM OF 2015 RULE 144A GLOBAL NOTE 

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF
THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN. 
 THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE. BY ITS
ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 
 (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”) OR (B) IT IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT; 

 

 1 

 (2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO
THE COMPANY OR ANY OF ITS SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE
TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH THE
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (3) AGREES THAT IT
WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 

AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE
902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE GOVERNING THIS SECURITY CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS SECURITY IN VIOLATION OF THE FOREGOING. 

New Communications Holdings Inc. 
  

			
	No. 144A -	 	7.875% SENIOR NOTE DUE 2015
	
	ORIGINAL ISSUE DATE: April 12, 2010
	$[    ],000,000	 	 CUSIP: 35906AAC2

ISIN No.: US35906AAC27

New Communications Holdings Inc., a corporation duly organized and existing under the laws of the State of Delaware (prior to the
consummation of the Merger, the “Company”), for value received, hereby promises to pay Cede & Co., or its registered assigns, the principal sum of $ [ ] ([ ] dollars), or such other principal sum as set forth in the
Schedule of Exchanges of Interests in the Global Note attached hereto, on April 15, 2015, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and
to pay semi-annually in arrears on October 15 and April 15 of each year (each, an “Interest Payment Date”), commencing October 15, 2010, and at maturity (or on any redemption or repayment date) the amount of
interest on said 
  

 2 

 
principal sum at said office or agency, in like coin or currency, at the rate of 7.875% per annum, from April 12, 2010 or from the most recent Interest Payment Date to which interest
has been paid or duly provided for until said principal sum has been paid or duly provided for. Interest shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 

The interest payable on any Interest Payment Date, which is punctually paid or duly provided for on such Interest Payment Date, will be
paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on April 1 or October 1, respectively (in each case, whether or not a Business Day), as the case may be (each, a
“Regular Record Date”), immediately preceding such Interest Payment Date (except interest payable on October 15, 2010 will be to the Person in whose names this Note is registered on October 5, 2010). Interest
payable on this Note, which is not punctually paid or duly provided for on any Interest Payment Date therefor, shall forthwith cease to be payable to the Person in whose name this Note is registered at the close of business on the Regular Record
Date immediately preceding such Interest Payment Date, and such interest may either (i) be paid to the Person in whose name this Note is registered at the close of business on a special record date to be established for such payment by the
Trustee or (ii) be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, all as more fully provided in the Indenture referred to on the reverse hereof. 

Payment of the principal of this Note, any premium and the interest due at maturity (or on any redemption or repayment date) will be made
in immediately available funds upon surrender of this Note at the office or agency of the Paying Agent, as defined on the reverse hereof, maintained for that purpose in the Borough of Manhattan, The City of New York, or at such other paying agency
as the Company may determine. At the option of the Company, interest on the Notes may be paid (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the register of Holders of the Notes or (ii) at
the expense of the Company, by wire transfer to an account maintained by the Person entitled thereto as specified in writing to the Trustee, by such Person by the applicable record date of the Notes. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
 This Note shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the reverse hereof. 
  

 3 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officer. 
  

					
	
	 NEW COMMUNICATIONS HOLDINGS INC.

		
	 By:
	 	  

		 	Name:	 	
		 	Title:	 	

 This is one of the Global 

Notes referred to in the 
 within-mentioned
Indenture: 
  

			
	 THE BANK OF NEW YORK MELLON, as Trustee

		
	 By:
	 	  

		 	Authorized Signatory

 Dated: April 12,
2010 
  

 4 

 [REVERSE OF NOTE] 

NOTE DUE 
 1.
INDENTURE. (a) This Note is one of a duly authorized issue of senior debt securities of the Company of a series designated as the 7.875% Senior Notes Due 2015 of the Company (the “Notes”), originally issued in an
aggregate principal amount of $500,000,000, all issued or to be issued under and pursuant to the Indenture, dated as of April 12, 2010 (the “Indenture”), between the Company and The Bank of New York Mellon (the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. The Company has appointed The Bank of New York Mellon at its
principal corporate trust office in The City of New York as the paying agent (the “Paying Agent”, which term includes any additional or successor Paying Agent appointed by the Company) with respect to the Notes. To the extent
not inconsistent herewith, the terms of the Indenture are hereby incorporated by reference herein. 
 (b) All capitalized terms
used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

2. AMENDMENTS AND WAIVERS. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Notes to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the
time outstanding. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Notes at the time outstanding to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. 
 3. OBLIGATION TO PAY PRINCIPAL, PREMIUM, IF ANY, AND INTEREST. No reference herein to
the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company or any other obligor on the Notes, which is absolute and unconditional, to pay the principal of, premium, if any, and interest (and
from and after the effective time of the Merger, special interest, if any, as provided in Section 2 of the Registration Rights Agreement for the Notes) on the Notes in the manner, at the respective times, at the rate, at the place and in the
coin or currency herein prescribed. 
 4. OPTIONAL REDEMPTION. From and after the effective time of the Merger, the Notes are redeemable at the
Company’s election, in whole or in part, at any time at a redemption price equal to the greater of: 
  

	 	(1)	100% of the principal amount of the Notes to be redeemed then outstanding; and 

 

	 	(2)	as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be
redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate,
plus 50 basis points 

 plus, in either of the above cases, accrued and unpaid interest to the date of redemption on the
Notes to be redeemed. 
 If the redemption date is on or after an interest record date and on or before the related interest payment date, the
accrued and unpaid interest, if any, will be paid to the person in whose name the note is registered at the close of business on such interest record date. 
  

 R-1 

 The Company will mail a notice of redemption at least 30 days but not more than 60 days before the
redemption date to each holder of the securities to be redeemed as described in this Paragraph 4. 
 Unless the Company defaults in payment of
the redemption price, on and after the redemption date, interest will cease to accrue on the notes or portions thereof called for redemption. 

For purposes of the foregoing, the following terms shall have the following meanings: 

“Adjusted Treasury Rate” means, with respect to any redemption date: 

(a) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury
securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest
month); or 
 (b) if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such redemption date. 
 The Adjusted Treasury Rate shall be calculated on the third
Business Day preceding the redemption date. 
 “Comparable Treasury Issue” means the
United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the applicable series of Notes that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes (“Remaining Life”). 

“Comparable Treasury Price” means, for any redemption date, (1) the average of four Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations the
average of all such quotations. 
 “Independent Investment Banker” means one of the
Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means
any of the primary U.S. Government securities dealers in New York City. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed
in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

5. SPECIAL MANDATORY REDEMPTION. In the event that the Merger Agreement is terminated or the Spin-Off and the Merger are not completed on or prior to
October 1, 2010, the Notes will be redeemed 
  

 R-2 

 
at a special redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest on the principal amount of the Notes, to but not including the date of redemption, as
set forth in the Indenture. 
 6. REPURCHASE AT OPTION OF HOLDER. From and after the effective time of the Merger, upon the occurrence of a
Change of Control Triggering Event, and subject to certain conditions set forth in the Indenture, the Company will be required to offer to purchase all of the outstanding Notes at a purchase price equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, thereon to the date of repurchase. 
 7. CERTAIN COVENANTS. With certain exceptions as therein provided,
the Indenture restricts the ability of the Company and its Subsidiaries to incur indebtedness, create certain liens and merge or consolidate with other Persons. These covenants are subject to the covenant defeasance procedures outlined in the
Indenture. 
 8. EFFECT OF EVENT OF DEFAULT. If an Event of Default shall have occurred and be continuing under the Indenture, the principal
hereof may be declared, and upon such declaration shall become, due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

9. DEFEASANCE. The Indenture contains provisions for defeasance and covenant defeasance at any time of the Indebtedness on this Note upon compliance by
the Company with certain conditions set forth therein. 
 10. DENOMINATIONS; EXCHANGES. The Notes are issuable in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof, at the office or agency of the Company in the Borough of Manhattan, The City of New York, and in the manner and, subject to the limitations provided in the
Indenture, Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations. 
 11. HOLDER AS OWNER.
Prior to due presentment for the registration of transfer of this Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name this Note is registered as the absolute owner of this Note for the purpose of receiving
payment of principal of, premium, if any, and interest on this Note and for all other purposes, in each case regardless of any notice to the contrary. 

12. NO LIABILITY OF CERTAIN PERSONS. No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, shall
have any liability for any obligations, covenants or agreements of the Company under the Notes or the 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 and release may not be effective to waive or release liabilities under the federal securities laws. 

13. LOSS, THEFT OR DESTRUCTION. If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction
of the destruction, loss or theft of such Note, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 of the Indenture, the Trustee shall authenticate a replacement Note. If required by the Trustee
or the Company, the Holder of such Note shall provide indemnity that is sufficient, in the judgment of the Trustee or the Company, to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer
in connection with such replacement. If required by the Company, such Holder shall reimburse the Company for its reasonable expenses in connection with such replacement. 

Every replacement Note issued in accordance with Section 2.07 of the Indenture shall be the valid obligation of the Company, evidencing the same
Indebtedness as the destroyed, lost or stolen Note, and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued under the Indenture. 

 

 R-3 

 14. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to
the rights provided to Holders of Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have all the rights set forth in the Registration Rights Agreement for the Notes or, in the case of additional
Notes permitted under Section 2.15 of the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have the rights set forth in one or more registration rights agreements, if any, among Frontier Communications
Corporation and the other parties thereto, relating to rights to be given by Frontier Communications Corporation to the purchasers of any such additional Notes. 

15. GOVERNING LAW. This Note shall be governed by, and construed in accordance with, the laws of the State of New York. 

16. SUPPLEMENTAL INDENTURE. Concurrently with the closing of the Merger, Frontier Communications Corporation shall execute and deliver to the Trustee a
supplemental indenture pursuant to which Frontier Communications Corporation shall expressly assume the due and punctual payment of the principal of (and premium, if any) and interest on the Notes and the performance and observance of all of the
covenants and conditions of the Indenture to be performed or observed by the Company. As used in this Note, the “Company” shall mean Frontier Communications Corporation following the consummation of the Merger. 

 

 R-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto: 

PLEASE INSERT SOCIAL SECURITY NUMBER OR TAXPAYER IDENTIFICATION NUMBER OF ASSIGNEE 

PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE 

the within Note of New Communications Holdings Inc. and all rights thereunder and hereby irrevocably constitutes and appoints such person attorney to
transfer such Note on the books of New Communications Holdings Inc., with full power of substitution in the premises. 
 Dated: 

Signature 
 NOTICE: THE
SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER. THE SIGNATURE SHOULD BE MEDALLION GUARANTEED BY A
COMMERCIAL BANK OR TRUST COMPANY, A MEMBER ORGANIZATION OF THE NEW YORK STOCK EXCHANGE. 
  

					
	Signature Guarantee:	 		 	Tax Identification No.:
	  
	 		 	  

			
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in
the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities
Exchange Act of 1934, as amended.	 		 	

  

 R-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
Decrease 
in
Principal Amount
of this Global Note	  	Amount of
Increase 
in
Principal Amount
of this Global Note	  	Principal Amount
of this Global 
Note
following such
Decrease 
(or
Increase)	  	Signature 
of
authorized
Signatory of
Trustee 
or
Custodian
		  		  		  		  	

  

 R-6 

 EXHIBIT B 

FORM OF 2015 REGULATION S GLOBAL NOTE 

[INSERT IN THE CASE OF THE REGULATION S TEMPORARY GLOBAL NOTE] [THIS SECURITY IS A REGULATION S TEMPORARY GLOBAL NOTE WITHIN THE
MEANING OF THE INDENTURE REFERRED TO HEREINAFTER AND IS SUBJECT TO THE RESTRICTIONS ON THE TRANSFER AND EXCHANGE HEREOF AS SPECIFIED IN THE INDENTURE. UNTIL 40 DAYS AFTER THE ISSUE DATE HEREOF, AN OFFER OR SALE OF THE NOTES WITHIN THE UNITED STATES
BY A DEALER (AS DEFINED IN THE SECURITIES ACT OF 1933, AS AMENDED) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED, IF SUCH OFFER OR SALE IS MADE OTHERWISE THAN IN ACCORDANCE WITH RULE 144A UNDER THE SECURITIES
ACT OF 1933, AS AMENDED.] 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS
NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE
INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS
GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT
IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

 1 

 THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE.
BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 
 (1) REPRESENTS THAT (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”) OR (B) IT IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT;

 (2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE COMPANY OR ANY OF ITS
SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION MEETING THE
REQUIREMENTS OF RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM
THIS SECURITY OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 
 AS USED HEREIN, THE
TERMS “OFFSHORE TRANSACTION” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE GOVERNING THIS SECURITY CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO
REGISTER ANY TRANSFER OF THIS SECURITY IN VIOLATION OF THE FOREGOING. 
  

 2 

 New Communications Holdings Inc. 

 

			
	No. Regulation S -	 	7.875% SENIOR NOTE DUE 2015
	
	ORIGINAL ISSUE DATE: April 12, 2010
	$[    ],000,000	 	 CUSIP: U3144QAA8

ISIN No.: USU3144QAA86

New Communications Holdings Inc., a corporation duly organized and existing under the laws of the State of Delaware (prior to the
consummation of the Merger, the “Company”), for value received, hereby promises to pay Cede & Co., or its registered assigns, the principal sum of $ [ ] ([ ] dollars), or such other principal sum as set forth in the
Schedule of Exchanges of Interests in the Global Note attached hereto, on April 15, 2015, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and
to pay semi-annually in arrears on October 15 and April 15 of each year (each, an “Interest Payment Date”), commencing October 15, 2010, and at maturity (or on any redemption or repayment date) the amount of
interest on said principal sum at said office or agency, in like coin or currency, at the rate of 7.875% per annum, from April 12, 2010 or from the most recent Interest Payment Date to which interest has been paid or duly provided for
until said principal sum has been paid or duly provided for. Interest shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 

The interest payable on any Interest Payment Date, which is punctually paid or duly provided for on such Interest Payment Date, will be
paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on April 1 or October 1, respectively (in each case, whether or not a Business Day), as the case may be (each, a
“Regular Record Date”), immediately preceding such Interest Payment Date (except interest payable on October 15, 2010 will be to the Person in whose names this Note is registered on October 5, 2010). Interest
payable on this Note, which is not punctually paid or duly provided for on any Interest Payment Date therefor, shall forthwith cease to be payable to the Person in whose name this Note is registered at the close of business on the Regular Record
Date immediately preceding such Interest Payment Date, and such interest may either (i) be paid to the Person in whose name this Note is registered at the close of business on a special record date to be established for such payment by the
Trustee or (ii) be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, all as more fully provided in the Indenture referred to on the reverse hereof. 

Payment of the principal of this Note, any premium and the interest due at maturity (or on any redemption or repayment date) will be made
in immediately available funds upon surrender of this Note at the office or agency of the Paying Agent, as defined on the reverse hereof, maintained for that purpose in the Borough of Manhattan, The City of New York, or at such other paying agency
as the Company may determine. At the option of the Company, interest on the Notes may be paid (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the register of Holders of the Notes or (ii) at
the expense of the Company, by wire transfer to an account maintained by the Person entitled thereto as specified in writing to the Trustee, by such Person by the applicable record date of the Notes. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
 This Note shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the reverse hereof. 
  

 3 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officer. 
  

					
	
	 NEW COMMUNICATIONS HOLDINGS INC.

		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 This is one of the Global 

Notes referred to in the 
 within-mentioned
Indenture: 
  

			
	 THE BANK OF NEW YORK MELLON, as Trustee

		
	By:	 	  

		 	Authorized Signatory

 Dated: April 12,
2010 
  

 4 

 [REVERSE OF NOTE] 

NOTE DUE 
 1.
INDENTURE. (a) This Note is one of a duly authorized issue of senior debt securities of the Company of a series designated as the 7.875% Senior Notes Due 2015 of the Company (the “Notes”), originally issued in an
aggregate principal amount of $500,000,000, all issued or to be issued under and pursuant to the Indenture, dated as of April 12, 2010 (the “Indenture”), between the Company and The Bank of New York Mellon (the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. The Company has appointed The Bank of New York Mellon at its
principal corporate trust office in The City of New York as the paying agent (the “Paying Agent”, which term includes any additional or successor Paying Agent appointed by the Company) with respect to the Notes. To the extent
not inconsistent herewith, the terms of the Indenture are hereby incorporated by reference herein. 
 (b) All capitalized terms
used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

2. AMENDMENTS AND WAIVERS. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Notes to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the
time outstanding. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Notes at the time outstanding to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. 
 3. OBLIGATION TO PAY PRINCIPAL, PREMIUM, IF ANY, AND INTEREST. No reference herein to
the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company or any other obligor on the Notes, which is absolute and unconditional, to pay the principal of, premium, if any, and interest (and
from and after the effective time of the Merger, special interest, if any, as provided in Section 2 of the Registration Rights Agreement for the Notes) on the Notes in the manner, at the respective times, at the rate, at the place and in the
coin or currency herein prescribed. 
 4. OPTIONAL REDEMPTION. From and after the effective time of the Merger, the Notes are redeemable at the
Company’s election, in whole or in part, at any time at a redemption price equal to the greater of: 
  

	 	(1)	100% of the principal amount of the Notes to be redeemed then outstanding; and 

 

	 	(2)	as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be
redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate,
plus 50 basis points 

 plus, in either of the above cases, accrued and unpaid interest to the date of redemption on the
Notes to be redeemed. 
 If the redemption date is on or after an interest record date and on or before the related interest payment date, the
accrued and unpaid interest, if any, will be paid to the person in whose name the note is registered at the close of business on such interest record date. 
  

 R-1 

 The Company will mail a notice of redemption at least 30 days but not more than 60 days before the
redemption date to each holder of the securities to be redeemed as described in this Paragraph 4. 
 Unless the Company defaults in payment of
the redemption price, on and after the redemption date, interest will cease to accrue on the notes or portions thereof called for redemption. 

For purposes of the foregoing, the following terms shall have the following meanings: 

“Adjusted Treasury Rate” means, with respect to any redemption date: 

(a) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury
securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest
month); or 
 (b) if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such redemption date. 
 The Adjusted Treasury Rate shall be calculated on the third
Business Day preceding the redemption date. 
 “Comparable Treasury Issue” means the
United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the applicable series of Notes that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes (“Remaining Life”). 

“Comparable Treasury Price” means, for any redemption date, (1) the average of four Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations the
average of all such quotations. 
 “Independent Investment Banker” means one of the
Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means
any of the primary U.S. Government securities dealers in New York City. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed
in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

5. SPECIAL MANDATORY REDEMPTION. In the event that the Merger Agreement is terminated or the Spin-Off and the Merger are not completed on or prior to
October 1, 2010, the Notes will be redeemed 
  

 R-2 

 
at a special redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest on the principal amount of the Notes, to but not including the date of redemption, as
set forth in the Indenture. 
 6. REPURCHASE AT OPTION OF HOLDER. From and after the effective time of the Merger, upon the occurrence of a
Change of Control Triggering Event, and subject to certain conditions set forth in the Indenture, the Company will be required to offer to purchase all of the outstanding Notes at a purchase price equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, thereon to the date of repurchase. 
 7. CERTAIN COVENANTS. With certain exceptions as therein provided,
the Indenture restricts the ability of the Company and its Subsidiaries to incur indebtedness, create certain liens and merge or consolidate with other Persons. These covenants are subject to the covenant defeasance procedures outlined in the
Indenture. 
 8. EFFECT OF EVENT OF DEFAULT. If an Event of Default shall have occurred and be continuing under the Indenture, the principal
hereof may be declared, and upon such declaration shall become, due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

9. DEFEASANCE. The Indenture contains provisions for defeasance and covenant defeasance at any time of the Indebtedness on this Note upon compliance by
the Company with certain conditions set forth therein. 
 10. DENOMINATIONS; EXCHANGES. The Notes are issuable in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof, at the office or agency of the Company in the Borough of Manhattan, The City of New York, and in the manner and, subject to the limitations provided in the
Indenture, Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations. 
 [INSERT IN THE CASE OF
THE TEMPORARY REGULATION S NOTE] [This Regulation S Temporary Global Note shall be exchanged for one or more Regulation S Permanent Global Notes following the expiration of the Distribution Compliance Period as provided for in the Indenture.
Upon exchange of this Regulation S Temporary Global Note for one or more Regulation S Permanent Global Notes, the Trustee shall cancel this Regulation S Temporary Global Note.] 

11. HOLDER AS OWNER. Prior to due presentment for the registration of transfer of this Note, the Trustee, any Agent and the Company may deem and treat
the Person in whose name this Note is registered as the absolute owner of this Note for the purpose of receiving payment of principal of, premium, if any, and interest on this Note and for all other purposes, in each case regardless of any notice to
the contrary. 
 12. NO LIABILITY OF CERTAIN PERSONS. No past, present or future director, officer, employee, incorporator or stockholder of the
Company, as such, shall have any liability for any obligations, covenants or agreements of the Company under the Notes or the 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 and release may not be effective to waive or release liabilities under the federal
securities laws. 
 13. LOSS, THEFT OR DESTRUCTION. If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives
evidence to its satisfaction of the destruction, loss or theft of such Note, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 of the Indenture, the Trustee shall authenticate a replacement
Note. If required by the Trustee or the Company, the Holder of such Note shall provide indemnity that is sufficient, in the judgment of the Trustee or the Company, to protect the Company, the Trustee, any Agent and any authenticating agent from any
loss that any of them may suffer in connection with such replacement. If required by the Company, such Holder shall reimburse the Company for its reasonable expenses in connection with such replacement. 

 

 R-3 

 Every replacement Note issued in accordance with Section 2.07 of the Indenture shall be the valid
obligation of the Company, evidencing the same Indebtedness as the destroyed, lost or stolen Note, and shall be entitled to all of the benefits of the Indenture equally and proportionately with all other Notes duly issued under the Indenture.

 14. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to the rights provided to Holders of
Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have all the rights set forth in the Registration Rights Agreement for the Notes or, in the case of additional Notes permitted under
Section 2.15 of the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have the rights set forth in one or more registration rights agreements, if any, among Frontier Communications Corporation and the other
parties thereto, relating to rights to be given by Frontier Communications Corporation to the purchasers of any such additional Notes. 
 15.
GOVERNING LAW. This Note shall be governed by, and construed in accordance with, the laws of the State of New York. 
 16. SUPPLEMENTAL
INDENTURE. Concurrently with the closing of the Merger, Frontier Communications Corporation shall execute and deliver to the Trustee a supplemental indenture pursuant to which Frontier Communications Corporation shall expressly assume the due and
punctual payment of the principal of (and premium, if any) and interest on the Notes and the performance and observance of all of the covenants and conditions of the Indenture to be performed or observed by the Company. As used in this Note, the
“Company” shall mean Frontier Communications Corporation following the consummation of the Merger. 
  

 R-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto: 

PLEASE INSERT SOCIAL SECURITY NUMBER OR TAXPAYER IDENTIFICATION NUMBER OF ASSIGNEE 

PLEASE PRINT OR TYPE NAME AND ADDRESS, 

INCLUDING ZIP CODE, OF ASSIGNEE 

the within Note of New Communications Holdings Inc. and all rights thereunder and hereby irrevocably constitutes and appoints such person attorney to
transfer such Note on the books of New Communications Holdings Inc., with full power of substitution in the premises. 
 Dated: 

Signature 
 NOTICE: THE
SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER. THE SIGNATURE SHOULD BE MEDALLION GUARANTEED BY A
COMMERCIAL BANK OR TRUST COMPANY, A MEMBER ORGANIZATION OF THE NEW YORK STOCK EXCHANGE. 
  

									
	Signature Guarantee:	 		 		  	Tax Identification No.:	  	
	  
	 		 		  	  
	  	
			
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.	  		  	

  

 R-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
Decrease in
Principal Amount
of this Global Note	  	Amount of
Increase in
Principal Amount
of this Global Note	  	Principal Amount
of this Global Note
following such
Decrease
(or
Increase)	  	Signature of
authorized
Signatory of
Trustee or
Custodian
		  		  		  		  	

  

 R-6 

 EXHIBIT C 

FORM OF 2017 RULE 144A GLOBAL NOTE 

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF
THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN. 
 THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE. BY ITS
ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 
 (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”) OR (B) IT IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT; 

 

 1 

 (2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO
THE COMPANY OR ANY OF ITS SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE
TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH THE
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (3) AGREES THAT IT
WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 

AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE
902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE GOVERNING THIS SECURITY CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS SECURITY IN VIOLATION OF THE FOREGOING. 

New Communications Holdings Inc. 
  

			
	 No. 144A -
	 	8.250% SENIOR NOTE DUE 2017
	
	ORIGINAL ISSUE DATE: April 12, 2010
	$[ ],000,000	 	 CUSIP: 35906AAE8

ISIN No.: US35906AAE82

New Communications Holdings Inc., a corporation duly organized and existing under the laws of the State of Delaware (prior to the
consummation of the Merger, the “Company”), for value received, hereby promises to pay Cede & Co., or its registered assigns, the principal sum of $ [  ] ([  ] dollars), or such other principal
sum as set forth in the Schedule of Exchanges of Interests in the Global Note attached hereto, on April 15, 2017, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public
and private debts, and to pay semi–annually in arrears on October 15 and April 15 of each year (each, an “Interest Payment Date”), commencing October 15, 2010, and at maturity (or on any redemption or
repayment date) the amount of interest on said 
  

 2 

 
principal sum at said office or agency, in like coin or currency, at the rate of 8.250% per annum, from April 12, 2010 or from the most recent Interest Payment Date to which interest
has been paid or duly provided for until said principal sum has been paid or duly provided for. Interest shall be computed on the basis of a 360–day year consisting of twelve 30–day months. 

The interest payable on any Interest Payment Date, which is punctually paid or duly provided for on such Interest Payment Date, will be
paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on April 1 or October 1, respectively (in each case, whether or not a Business Day), as the case may be (each, a
“Regular Record Date”), immediately preceding such Interest Payment Date (except interest payable on October 15, 2010 will be to the Person in whose names this Note is registered on October 5, 2010). Interest
payable on this Note, which is not punctually paid or duly provided for on any Interest Payment Date therefor, shall forthwith cease to be payable to the Person in whose name this Note is registered at the close of business on the Regular Record
Date immediately preceding such Interest Payment Date, and such interest may either (i) be paid to the Person in whose name this Note is registered at the close of business on a special record date to be established for such payment by the
Trustee or (ii) be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, all as more fully provided in the Indenture referred to on the reverse hereof. 

Payment of the principal of this Note, any premium and the interest due at maturity (or on any redemption or repayment date) will be made
in immediately available funds upon surrender of this Note at the office or agency of the Paying Agent, as defined on the reverse hereof, maintained for that purpose in the Borough of Manhattan, The City of New York, or at such other paying agency
as the Company may determine. At the option of the Company, interest on the Notes may be paid (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the register of Holders of the Notes or (ii) at
the expense of the Company, by wire transfer to an account maintained by the Person entitled thereto as specified in writing to the Trustee, by such Person by the applicable record date of the Notes. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
 This Note shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the reverse hereof. 
  

 3 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officer. 
  

			
	NEW COMMUNICATIONS HOLDINGS INC.
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Global 

Notes referred to in the 
 within–mentioned
Indenture: 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated: April 12,
2010 
  

 4 

 [REVERSE OF NOTE] 

NOTE DUE 
 1.
INDENTURE. (a) This Note is one of a duly authorized issue of senior debt securities of the Company of a series designated as the 8.250% Senior Notes Due 2017 of the Company (the “Notes”), originally issued in an
aggregate principal amount of $1,100,000,000, all issued or to be issued under and pursuant to the Indenture, dated as of April 12, 2010 (the “Indenture”), between the Company and The Bank of New York Mellon (the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. The Company has appointed The Bank of New York Mellon at its
principal corporate trust office in The City of New York as the paying agent (the “Paying Agent”, which term includes any additional or successor Paying Agent appointed by the Company) with respect to the Notes. To the extent
not inconsistent herewith, the terms of the Indenture are hereby incorporated by reference herein. 
 (b) All capitalized terms
used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

2. AMENDMENTS AND WAIVERS. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Notes to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the
time outstanding. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Notes at the time outstanding to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. 
 3. OBLIGATION TO PAY PRINCIPAL, PREMIUM, IF ANY, AND INTEREST. No reference herein to
the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company or any other obligor on the Notes, which is absolute and unconditional, to pay the principal of, premium, if any, and interest (and
from and after the effective time of the Merger, special interest, if any, as provided in Section 2 of the Registration Rights Agreement for the Notes) on the Notes in the manner, at the respective times, at the rate, at the place and in the
coin or currency herein prescribed. 
 4. OPTIONAL REDEMPTION. From and after the effective time of the Merger, the Notes are redeemable at the
Company’s election, in whole or in part, at any time at a redemption price equal to the greater of: 
  

	 	(1)	100% of the principal amount of the Notes to be redeemed then outstanding; and 

 

	 	(2)	as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be
redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate,
plus 50 basis points 

 plus, in either of the above cases, accrued and unpaid interest to the date of redemption on the
Notes to be redeemed. 
 If the redemption date is on or after an interest record date and on or before the related interest payment date, the
accrued and unpaid interest, if any, will be paid to the person in whose name the note is registered at the close of business on such interest record date. 
  

 R-1 

 The Company will mail a notice of redemption at least 30 days but not more than 60 days before the
redemption date to each holder of the securities to be redeemed as described in this Paragraph 4. 
 Unless the Company defaults in payment of
the redemption price, on and after the redemption date, interest will cease to accrue on the notes or portions thereof called for redemption. 

For purposes of the foregoing, the following terms shall have the following meanings: 

“Adjusted Treasury Rate” means, with respect to any redemption date: 

(a) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury
securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest
month); or 
 (b) if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such redemption date. 
 The Adjusted Treasury Rate shall be calculated on the third
Business Day preceding the redemption date. 
 “Comparable Treasury Issue” means the
United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the applicable series of Notes that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes (“Remaining Life”). 

“Comparable Treasury Price” means, for any redemption date, (1) the average of four Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations the
average of all such quotations. 
 “Independent Investment Banker” means one of the
Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means
any of the primary U.S. Government securities dealers in New York City. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed
in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

5. SPECIAL MANDATORY REDEMPTION. In the event that the Merger Agreement is terminated or the Spin-Off and the Merger are not completed on or prior to
October 1, 2010, the Notes will be redeemed 
  

 R-2 

 
at a special redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest on the principal amount of the Notes, to but not including the date of redemption, as
set forth in the Indenture. 
 6. REPURCHASE AT OPTION OF HOLDER. From and after the effective time of the Merger, upon the occurrence of a
Change of Control Triggering Event, and subject to certain conditions set forth in the Indenture, the Company will be required to offer to purchase all of the outstanding Notes at a purchase price equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, thereon to the date of repurchase. 
 7. CERTAIN COVENANTS. With certain exceptions as therein provided,
the Indenture restricts the ability of the Company and its Subsidiaries to incur indebtedness, create certain liens and merge or consolidate with other Persons. These covenants are subject to the covenant defeasance procedures outlined in the
Indenture. 
 8. EFFECT OF EVENT OF DEFAULT. If an Event of Default shall have occurred and be continuing under the Indenture, the principal
hereof may be declared, and upon such declaration shall become, due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

9. DEFEASANCE. The Indenture contains provisions for defeasance and covenant defeasance at any time of the Indebtedness on this Note upon compliance by
the Company with certain conditions set forth therein. 
 10. DENOMINATIONS; EXCHANGES. The Notes are issuable in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof, at the office or agency of the Company in the Borough of Manhattan, The City of New York, and in the manner and, subject to the limitations provided in the
Indenture, Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations. 
 11. HOLDER AS OWNER.
Prior to due presentment for the registration of transfer of this Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name this Note is registered as the absolute owner of this Note for the purpose of receiving
payment of principal of, premium, if any, and interest on this Note and for all other purposes, in each case regardless of any notice to the contrary. 

12. NO LIABILITY OF CERTAIN PERSONS. No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, shall
have any liability for any obligations, covenants or agreements of the Company under the Notes or the 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 and release may not be effective to waive or release liabilities under the federal securities laws. 

13. LOSS, THEFT OR DESTRUCTION. If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction
of the destruction, loss or theft of such Note, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 of the Indenture, the Trustee shall authenticate a replacement Note. If required by the Trustee
or the Company, the Holder of such Note shall provide indemnity that is sufficient, in the judgment of the Trustee or the Company, to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer
in connection with such replacement. If required by the Company, such Holder shall reimburse the Company for its reasonable expenses in connection with such replacement. 

Every replacement Note issued in accordance with Section 2.07 of the Indenture shall be the valid obligation of the Company, evidencing the same
Indebtedness as the destroyed, lost or stolen Note, and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued under the Indenture. 

 

 R-3 

 14. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to
the rights provided to Holders of Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have all the rights set forth in the Registration Rights Agreement for the Notes or, in the case of additional
Notes permitted under Section 2.15 of the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have the rights set forth in one or more registration rights agreements, if any, among Frontier Communications
Corporation and the other parties thereto, relating to rights to be given by Frontier Communications Corporation to the purchasers of any such additional Notes. 

15. GOVERNING LAW. This Note shall be governed by, and construed in accordance with, the laws of the State of New York. 

16. SUPPLEMENTAL INDENTURE. Concurrently with the closing of the Merger, Frontier Communications Corporation shall execute and deliver to the Trustee a
supplemental indenture pursuant to which Frontier Communications Corporation shall expressly assume the due and punctual payment of the principal of (and premium, if any) and interest on the Notes and the performance and observance of all of the
covenants and conditions of the Indenture to be performed or observed by the Company. As used in this Note, the “Company” shall mean Frontier Communications Corporation following the consummation of the Merger. 

 

 R-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto: 

PLEASE INSERT SOCIAL SECURITY NUMBER OR TAXPAYER IDENTIFICATION NUMBER OF ASSIGNEE 

PLEASE PRINT OR TYPE NAME AND ADDRESS, 

INCLUDING ZIP CODE, OF ASSIGNEE 

the within Note of New Communications Holdings Inc. and all rights thereunder and hereby irrevocably constitutes and appoints such person attorney to
transfer such Note on the books of New Communications Holdings Inc., with full power of substitution in the premises. 
 Dated: 

Signature 
 NOTICE: THE
SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER. THE SIGNATURE SHOULD BE MEDALLION GUARANTEED BY A
COMMERCIAL BANK OR TRUST COMPANY, A MEMBER ORGANIZATION OF THE NEW YORK STOCK EXCHANGE. 
  

									
	Signature Guarantee:	 	 	 	 	  	Tax Identification No.:	  	 
	  
	 		 		  	  
	  	
			
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.	  		  	

  

 R-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
Decrease in
Principal Amount
of this Global Note	  	Amount of
Increase in
Principal Amount
of this Global Note	  	Principal Amount
of this Global Note
following such
Decrease
(or
Increase)	  	Signature of
authorized
Signatory of
Trustee or
Custodian
		  		  		  		  	

  

 R-6 

 EXHIBIT D 

FORM OF 2017 REGULATION S GLOBAL NOTE 

[INSERT IN THE CASE OF THE REGULATION S TEMPORARY GLOBAL NOTE] [THIS SECURITY IS A REGULATION S TEMPORARY GLOBAL NOTE WITHIN THE
MEANING OF THE INDENTURE REFERRED TO HEREINAFTER AND IS SUBJECT TO THE RESTRICTIONS ON THE TRANSFER AND EXCHANGE HEREOF AS SPECIFIED IN THE INDENTURE. UNTIL 40 DAYS AFTER THE ISSUE DATE HEREOF, AN OFFER OR SALE OF THE NOTES WITHIN THE UNITED STATES
BY A DEALER (AS DEFINED IN THE SECURITIES ACT OF 1933, AS AMENDED) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED, IF SUCH OFFER OR SALE IS MADE OTHERWISE THAN IN ACCORDANCE WITH RULE 144A UNDER THE SECURITIES
ACT OF 1933, AS AMENDED.] 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS
NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE
INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS
GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT
IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

 1 

 THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE.
BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 
 (1) REPRESENTS THAT (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”) OR (B) IT IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT;

 (2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE COMPANY OR ANY OF ITS
SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION MEETING THE
REQUIREMENTS OF RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM
THIS SECURITY OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 
 AS USED HEREIN, THE
TERMS “OFFSHORE TRANSACTION” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE GOVERNING THIS SECURITY CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO
REGISTER ANY TRANSFER OF THIS SECURITY IN VIOLATION OF THE FOREGOING. 
  

 2 

 New Communications Holdings Inc. 

 

			
	 No. Regulation S -
	 	8.250% SENIOR NOTE DUE 2017
	
	ORIGINAL ISSUE DATE: April 12, 2010
	$[  ],000,000	 	 CUSIP: U3144QAB6

ISIN No.: USU3144QAB69

New Communications Holdings Inc., a corporation duly organized and existing under the laws of the State of Delaware (prior to the
consummation of the Merger, the “Company”), for value received, hereby promises to pay Cede & Co., or its registered assigns, the principal sum of $ [  ] ([  ] dollars), or such other principal
sum as set forth in the Schedule of Exchanges of Interests in the Global Note attached hereto, on April 15, 2017, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public
and private debts, and to pay semi–annually in arrears on October 15 and April 15 of each year (each, an “Interest Payment Date”), commencing October 15, 2010, and at maturity (or on any redemption or
repayment date) the amount of interest on said principal sum at said office or agency, in like coin or currency, at the rate of 8.250% per annum, from April 12, 2010 or from the most recent Interest Payment Date to which interest has been
paid or duly provided for until said principal sum has been paid or duly provided for. Interest shall be computed on the basis of a 360–day year consisting of twelve 30–day months. 

The interest payable on any Interest Payment Date, which is punctually paid or duly provided for on such Interest Payment Date, will be
paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on April 1 or October 1, respectively (in each case, whether or not a Business Day), as the case may be (each, a
“Regular Record Date”), immediately preceding such Interest Payment Date (except interest payable on October 15, 2010 will be to the Person in whose names this Note is registered on October 5, 2010). Interest
payable on this Note, which is not punctually paid or duly provided for on any Interest Payment Date therefor, shall forthwith cease to be payable to the Person in whose name this Note is registered at the close of business on the Regular Record
Date immediately preceding such Interest Payment Date, and such interest may either (i) be paid to the Person in whose name this Note is registered at the close of business on a special record date to be established for such payment by the
Trustee or (ii) be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, all as more fully provided in the Indenture referred to on the reverse hereof. 

Payment of the principal of this Note, any premium and the interest due at maturity (or on any redemption or repayment date) will be made
in immediately available funds upon surrender of this Note at the office or agency of the Paying Agent, as defined on the reverse hereof, maintained for that purpose in the Borough of Manhattan, The City of New York, or at such other paying agency
as the Company may determine. At the option of the Company, interest on the Notes may be paid (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the register of Holders of the Notes or (ii) at
the expense of the Company, by wire transfer to an account maintained by the Person entitled thereto as specified in writing to the Trustee, by such Person by the applicable record date of the Notes. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
 This Note shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the reverse hereof. 
  

 3 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officer. 
  

			
	NEW COMMUNICATIONS HOLDINGS INC.
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Global 

Notes referred to in the 
 within–mentioned
Indenture: 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated: April 12,
2010 
  

 4 

 [REVERSE OF NOTE] 

NOTE DUE 
 1.
INDENTURE. (a) This Note is one of a duly authorized issue of senior debt securities of the Company of a series designated as the 8.250% Senior Notes Due 2017 of the Company (the “Notes”), originally issued in an
aggregate principal amount of $1,100,000,000, all issued or to be issued under and pursuant to the Indenture, dated as of April 12, 2010 (the “Indenture”), between the Company and The Bank of New York Mellon (the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. The Company has appointed The Bank of New York Mellon at its
principal corporate trust office in The City of New York as the paying agent (the “Paying Agent”, which term includes any additional or successor Paying Agent appointed by the Company) with respect to the Notes. To the extent
not inconsistent herewith, the terms of the Indenture are hereby incorporated by reference herein. 
 (b) All capitalized terms
used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

2. AMENDMENTS AND WAIVERS. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Notes to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the
time outstanding. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Notes at the time outstanding to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. 
 3. OBLIGATION TO PAY PRINCIPAL, PREMIUM, IF ANY, AND INTEREST. No reference herein to
the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company or any other obligor on the Notes, which is absolute and unconditional, to pay the principal of, premium, if any, and interest (and
from and after the effective time of the Merger, special interest, if any, as provided in Section 2 of the Registration Rights Agreement for the Notes) on the Notes in the manner, at the respective times, at the rate, at the place and in the
coin or currency herein prescribed. 
 4. OPTIONAL REDEMPTION. From and after the effective time of the Merger, the Notes are redeemable at the
Company’s election, in whole or in part, at any time at a redemption price equal to the greater of: 
  

	 	(1)	100% of the principal amount of the Notes to be redeemed then outstanding; and 

 

	 	(2)	as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be
redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate,
plus 50 basis points 

 plus, in either of the above cases, accrued and unpaid interest to the date of redemption on the
Notes to be redeemed. 
 If the redemption date is on or after an interest record date and on or before the related interest payment date, the
accrued and unpaid interest, if any, will be paid to the person in whose name the note is registered at the close of business on such interest record date. 
  

 R-1 

 The Company will mail a notice of redemption at least 30 days but not more than 60 days before the
redemption date to each holder of the securities to be redeemed as described in this Paragraph 4. 
 Unless the Company defaults in payment of
the redemption price, on and after the redemption date, interest will cease to accrue on the notes or portions thereof called for redemption. 

For purposes of the foregoing, the following terms shall have the following meanings: 

“Adjusted Treasury Rate” means, with respect to any redemption date: 

(a) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury
securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest
month); or 
 (b) if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such redemption date. 
 The Adjusted Treasury Rate shall be calculated on the third
Business Day preceding the redemption date. 
 “Comparable Treasury Issue” means the
United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the applicable series of Notes that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes (“Remaining Life”). 

“Comparable Treasury Price” means, for any redemption date, (1) the average of four Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations the
average of all such quotations. 
 “Independent Investment Banker” means one of the
Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means
any of the primary U.S. Government securities dealers in New York City. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed
in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

5. SPECIAL MANDATORY REDEMPTION. In the event that the Merger Agreement is terminated or the Spin-Off and the Merger are not completed on or prior to
October 1, 2010, the Notes will be redeemed 
  

 R-2 

 
at a special redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest on the principal amount of the Notes, to but not including the date of redemption, as
set forth in the Indenture. 
 6. REPURCHASE AT OPTION OF HOLDER. From and after the effective time of the Merger, upon the occurrence of a
Change of Control Triggering Event, and subject to certain conditions set forth in the Indenture, the Company will be required to offer to purchase all of the outstanding Notes at a purchase price equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, thereon to the date of repurchase. 
 7. CERTAIN COVENANTS. With certain exceptions as therein provided,
the Indenture restricts the ability of the Company and its Subsidiaries to incur indebtedness, create certain liens and merge or consolidate with other Persons. These covenants are subject to the covenant defeasance procedures outlined in the
Indenture. 
 8. EFFECT OF EVENT OF DEFAULT. If an Event of Default shall have occurred and be continuing under the Indenture, the principal
hereof may be declared, and upon such declaration shall become, due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

9. DEFEASANCE. The Indenture contains provisions for defeasance and covenant defeasance at any time of the Indebtedness on this Note upon compliance by
the Company with certain conditions set forth therein. 
 10. DENOMINATIONS; EXCHANGES. The Notes are issuable in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof, at the office or agency of the Company in the Borough of Manhattan, The City of New York, and in the manner and, subject to the limitations provided in the
Indenture, Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations. 
 [INSERT IN THE CASE OF
THE TEMPORARY REGULATION S NOTE] [This Regulation S Temporary Global Note shall be exchanged for one or more Regulation S Permanent Global Notes following the expiration of the Distribution Compliance Period as provided for in the Indenture.
Upon exchange of this Regulation S Temporary Global Note for one or more Regulation S Permanent Global Notes, the Trustee shall cancel this Regulation S Temporary Global Note.] 

11. HOLDER AS OWNER. Prior to due presentment for the registration of transfer of this Note, the Trustee, any Agent and the Company may deem and treat
the Person in whose name this Note is registered as the absolute owner of this Note for the purpose of receiving payment of principal of, premium, if any, and interest on this Note and for all other purposes, in each case regardless of any notice to
the contrary. 
 12. NO LIABILITY OF CERTAIN PERSONS. No past, present or future director, officer, employee, incorporator or stockholder of the
Company, as such, shall have any liability for any obligations, covenants or agreements of the Company under the Notes or the 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 and release may not be effective to waive or release liabilities under the federal
securities laws. 
 13. LOSS, THEFT OR DESTRUCTION. If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives
evidence to its satisfaction of the destruction, loss or theft of such Note, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 of the Indenture, the Trustee shall authenticate a replacement
Note. If required by the Trustee or the Company, the Holder of such Note shall provide indemnity that is sufficient, in the judgment of the Trustee or the Company, to protect the Company, the Trustee, any Agent and any authenticating agent from any
loss that any of them may suffer in connection with such replacement. If required by the Company, such Holder shall reimburse the Company for its reasonable expenses in connection with such replacement. 

 

 R-3 

 Every replacement Note issued in accordance with Section 2.07 of the Indenture shall be the valid
obligation of the Company, evidencing the same Indebtedness as the destroyed, lost or stolen Note, and shall be entitled to all of the benefits of the Indenture equally and proportionately with all other Notes duly issued under the Indenture.

 14. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to the rights provided to Holders of
Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have all the rights set forth in the Registration Rights Agreement for the Notes or, in the case of additional Notes permitted under
Section 2.15 of the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have the rights set forth in one or more registration rights agreements, if any, among Frontier Communications Corporation and the other
parties thereto, relating to rights to be given by Frontier Communications Corporation to the purchasers of any such additional Notes. 
 15.
GOVERNING LAW. This Note shall be governed by, and construed in accordance with, the laws of the State of New York. 
 16. SUPPLEMENTAL
INDENTURE. Concurrently with the closing of the Merger, Frontier Communications Corporation shall execute and deliver to the Trustee a supplemental indenture pursuant to which Frontier Communications Corporation shall expressly assume the due and
punctual payment of the principal of (and premium, if any) and interest on the Notes and the performance and observance of all of the covenants and conditions of the Indenture to be performed or observed by the Company. As used in this Note, the
“Company” shall mean Frontier Communications Corporation following the consummation of the Merger. 
  

 R-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto: 

PLEASE INSERT SOCIAL SECURITY NUMBER OR TAXPAYER IDENTIFICATION NUMBER OF ASSIGNEE 

PLEASE PRINT OR TYPE NAME AND ADDRESS, 

INCLUDING ZIP CODE, OF ASSIGNEE 

the within Note of New Communications Holdings Inc. and all rights thereunder and hereby irrevocably constitutes and appoints such person attorney to
transfer such Note on the books of New Communications Holdings Inc., with full power of substitution in the premises. 
 Dated: 

Signature 
 NOTICE: THE
SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER. THE SIGNATURE SHOULD BE MEDALLION GUARANTEED BY A
COMMERCIAL BANK OR TRUST COMPANY, A MEMBER ORGANIZATION OF THE NEW YORK STOCK EXCHANGE. 
  

									
	Signature Guarantee:	 		 		  	Tax Identification No.:	  	
	  
	 		 		  	  
	  	
			
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.	  		  	

  

 R-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
Decrease in
Principal Amount
of this Global Note	  	Amount of
Increase in
Principal Amount
of this Global Note	  	Principal Amount
of this Global Note
following such
Decrease
(or
Increase)	  	Signature of
authorized
Signatory of
Trustee
or
Custodian
		  		  		  		  	

  

 R-6 

 EXHIBIT E 

FORM OF 2020 RULE 144A GLOBAL NOTE 

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF
THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN. 
 THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE. BY ITS
ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 
 (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”) OR (B) IT IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT; 

 

 1 

 (2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO
THE COMPANY OR ANY OF ITS SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE
TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH THE
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (3) AGREES THAT IT
WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 

AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE
902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE GOVERNING THIS SECURITY CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS SECURITY IN VIOLATION OF THE FOREGOING. 

New Communications Holdings Inc. 
  

			
	 No. 144A -
	 	8.500% SENIOR NOTE DUE 2020
	
	ORIGINAL ISSUE DATE: April 12, 2010
	$[  ],000,000	 	 CUSIP: 35906AAG3

ISIN No.: US35906AAG31

New Communications Holdings Inc., a corporation duly organized and existing under the laws of the State of Delaware (prior to the
consummation of the Merger, the “Company”), for value received, hereby promises to pay Cede & Co., or its registered assigns, the principal sum of $ [  ] ([  ] dollars), or such other principal
sum as set forth in the Schedule of Exchanges of Interests in the Global Note attached hereto, on April 15, 2020, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public
and private debts, and to pay semi–annually in arrears on October 15 and April 15 of each year (each, an “Interest Payment Date”), commencing October 15, 2010, and at maturity (or on any redemption or
repayment date) the amount of interest on said 
  

 2 

 
principal sum at said office or agency, in like coin or currency, at the rate of 8.500% per annum, from April 12, 2010 or from the most recent Interest Payment Date to which interest
has been paid or duly provided for until said principal sum has been paid or duly provided for. Interest shall be computed on the basis of a 360–day year consisting of twelve 30–day months. 

The interest payable on any Interest Payment Date, which is punctually paid or duly provided for on such Interest Payment Date, will be
paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on April 1 or October 1, respectively (in each case, whether or not a Business Day), as the case may be (each, a
“Regular Record Date”), immediately preceding such Interest Payment Date (except interest payable on October 15, 2010 will be to the Person in whose names this Note is registered on October 5, 2010). Interest
payable on this Note, which is not punctually paid or duly provided for on any Interest Payment Date therefor, shall forthwith cease to be payable to the Person in whose name this Note is registered at the close of business on the Regular Record
Date immediately preceding such Interest Payment Date, and such interest may either (i) be paid to the Person in whose name this Note is registered at the close of business on a special record date to be established for such payment by the
Trustee or (ii) be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, all as more fully provided in the Indenture referred to on the reverse hereof. 

Payment of the principal of this Note, any premium and the interest due at maturity (or on any redemption or repayment date) will be made
in immediately available funds upon surrender of this Note at the office or agency of the Paying Agent, as defined on the reverse hereof, maintained for that purpose in the Borough of Manhattan, The City of New York, or at such other paying agency
as the Company may determine. At the option of the Company, interest on the Notes may be paid (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the register of Holders of the Notes or (ii) at
the expense of the Company, by wire transfer to an account maintained by the Person entitled thereto as specified in writing to the Trustee, by such Person by the applicable record date of the Notes. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
 This Note shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the reverse hereof. 
  

 3 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officer. 
  

			
	NEW COMMUNICATIONS HOLDINGS INC.
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Global 

Notes referred to in the 
 within–mentioned
Indenture: 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated: April 12,
2010 
  

 4 

 [REVERSE OF NOTE] 

NOTE DUE 
 1.
INDENTURE. (a) This Note is one of a duly authorized issue of senior debt securities of the Company of a series designated as the 8.500% Senior Notes Due 2020 of the Company (the “Notes”), originally issued in an
aggregate principal amount of $1,100,000,000, all issued or to be issued under and pursuant to the Indenture, dated as of April 12, 2010 (the “Indenture”), between the Company and The Bank of New York Mellon (the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. The Company has appointed The Bank of New York Mellon at its
principal corporate trust office in The City of New York as the paying agent (the “Paying Agent”, which term includes any additional or successor Paying Agent appointed by the Company) with respect to the Notes. To the extent
not inconsistent herewith, the terms of the Indenture are hereby incorporated by reference herein. 
 (b) All capitalized terms
used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

2. AMENDMENTS AND WAIVERS. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Notes to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the
time outstanding. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Notes at the time outstanding to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. 
 3. OBLIGATION TO PAY PRINCIPAL, PREMIUM, IF ANY, AND INTEREST. No reference herein to
the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company or any other obligor on the Notes, which is absolute and unconditional, to pay the principal of, premium, if any, and interest (and
from and after the effective time of the Merger, special interest, if any, as provided in Section 2 of the Registration Rights Agreement for the Notes) on the Notes in the manner, at the respective times, at the rate, at the place and in the
coin or currency herein prescribed. 
 4. OPTIONAL REDEMPTION. From and after the effective time of the Merger, the Notes are redeemable at the
Company’s election, in whole or in part, at any time at a redemption price equal to the greater of: 
  

	 	(1)	100% of the principal amount of the Notes to be redeemed then outstanding; and 

 

	 	(2)	as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be
redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate,
plus 50 basis points 

 plus, in either of the above cases, accrued and unpaid interest to the date of redemption on the
Notes to be redeemed. 
 If the redemption date is on or after an interest record date and on or before the related interest payment date, the
accrued and unpaid interest, if any, will be paid to the person in whose name the note is registered at the close of business on such interest record date. 
  

 R-1 

 The Company will mail a notice of redemption at least 30 days but not more than 60 days before the
redemption date to each holder of the securities to be redeemed as described in this Paragraph 4. 
 Unless the Company defaults in payment of
the redemption price, on and after the redemption date, interest will cease to accrue on the notes or portions thereof called for redemption. 

For purposes of the foregoing, the following terms shall have the following meanings: 

“Adjusted Treasury Rate” means, with respect to any redemption date: 

(a) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury
securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest
month); or 
 (b) if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such redemption date. 
 The Adjusted Treasury Rate shall be calculated on the third
Business Day preceding the redemption date. 
 “Comparable Treasury Issue” means the
United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the applicable series of Notes that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes (“Remaining Life”). 

“Comparable Treasury Price” means, for any redemption date, (1) the average of four Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations the
average of all such quotations. 
 “Independent Investment Banker” means one of the
Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means
any of the primary U.S. Government securities dealers in New York City. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed
in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

5. SPECIAL MANDATORY REDEMPTION. In the event that the Merger Agreement is terminated or the Spin-Off and the Merger are not completed on or prior to
October 1, 2010, the Notes will be redeemed 
  

 R-2 

 
at a special redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest on the principal amount of the Notes, to but not including the date of redemption, as
set forth in the Indenture. 
 6. REPURCHASE AT OPTION OF HOLDER. From and after the effective time of the Merger, upon the occurrence of a
Change of Control Triggering Event, and subject to certain conditions set forth in the Indenture, the Company will be required to offer to purchase all of the outstanding Notes at a purchase price equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, thereon to the date of repurchase. 
 7. CERTAIN COVENANTS. With certain exceptions as therein provided,
the Indenture restricts the ability of the Company and its Subsidiaries to incur indebtedness, create certain liens and merge or consolidate with other Persons. These covenants are subject to the covenant defeasance procedures outlined in the
Indenture. 
 8. EFFECT OF EVENT OF DEFAULT. If an Event of Default shall have occurred and be continuing under the Indenture, the principal
hereof may be declared, and upon such declaration shall become, due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

9. DEFEASANCE. The Indenture contains provisions for defeasance and covenant defeasance at any time of the Indebtedness on this Note upon compliance by
the Company with certain conditions set forth therein. 
 10. DENOMINATIONS; EXCHANGES. The Notes are issuable in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof, at the office or agency of the Company in the Borough of Manhattan, The City of New York, and in the manner and, subject to the limitations provided in the
Indenture, Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations. 
 11. HOLDER AS OWNER.
Prior to due presentment for the registration of transfer of this Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name this Note is registered as the absolute owner of this Note for the purpose of receiving
payment of principal of, premium, if any, and interest on this Note and for all other purposes, in each case regardless of any notice to the contrary. 

12. NO LIABILITY OF CERTAIN PERSONS. No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, shall
have any liability for any obligations, covenants or agreements of the Company under the Notes or the 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 and release may not be effective to waive or release liabilities under the federal securities laws. 

13. LOSS, THEFT OR DESTRUCTION. If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction
of the destruction, loss or theft of such Note, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 of the Indenture, the Trustee shall authenticate a replacement Note. If required by the Trustee
or the Company, the Holder of such Note shall provide indemnity that is sufficient, in the judgment of the Trustee or the Company, to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer
in connection with such replacement. If required by the Company, such Holder shall reimburse the Company for its reasonable expenses in connection with such replacement. 

Every replacement Note issued in accordance with Section 2.07 of the Indenture shall be the valid obligation of the Company, evidencing the same
Indebtedness as the destroyed, lost or stolen Note, and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued under the Indenture. 

 

 R-3 

 14. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to
the rights provided to Holders of Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have all the rights set forth in the Registration Rights Agreement for the Notes or, in the case of additional
Notes permitted under Section 2.15 of the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have the rights set forth in one or more registration rights agreements, if any, among Frontier Communications
Corporation and the other parties thereto, relating to rights to be given by Frontier Communications Corporation to the purchasers of any such additional Notes. 

15. GOVERNING LAW. This Note shall be governed by, and construed in accordance with, the laws of the State of New York. 

16. SUPPLEMENTAL INDENTURE. Concurrently with the closing of the Merger, Frontier Communications Corporation shall execute and deliver to the Trustee a
supplemental indenture pursuant to which Frontier Communications Corporation shall expressly assume the due and punctual payment of the principal of (and premium, if any) and interest on the Notes and the performance and observance of all of the
covenants and conditions of the Indenture to be performed or observed by the Company. As used in this Note, the “Company” shall mean Frontier Communications Corporation following the consummation of the Merger. 

 

 R-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto: 

PLEASE INSERT SOCIAL SECURITY NUMBER OR TAXPAYER IDENTIFICATION NUMBER OF ASSIGNEE 

PLEASE PRINT OR TYPE NAME AND ADDRESS, 

INCLUDING ZIP CODE, OF ASSIGNEE 

the within Note of New Communications Holdings Inc. and all rights thereunder and hereby irrevocably constitutes and appoints such person attorney to
transfer such Note on the books of New Communications Holdings Inc., with full power of substitution in the premises. 
 Dated: 

Signature 
 NOTICE: THE
SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER. THE SIGNATURE SHOULD BE MEDALLION GUARANTEED BY A
COMMERCIAL BANK OR TRUST COMPANY, A MEMBER ORGANIZATION OF THE NEW YORK STOCK EXCHANGE. 
  

									
	Signature Guarantee:	 		 		  	Tax Identification No.:	  	
	  
	 		 		  	  
	  	
			
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.	  		  	

  

 R-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
Decrease in
Principal Amount
of this Global Note	  	Amount of
Increase in
Principal Amount
of this Global Note	  	Principal Amount
of this Global Note
following such
Decrease
(or
Increase)	  	Signature of
authorized
Signatory of
Trustee or
Custodian
		  		  		  		  	

  

 R-6 

 EXHIBIT F 

FORM OF 2020 REGULATION S GLOBAL NOTE 

[INSERT IN THE CASE OF THE REGULATION S TEMPORARY GLOBAL NOTE] [THIS SECURITY IS A REGULATION S TEMPORARY GLOBAL NOTE WITHIN THE
MEANING OF THE INDENTURE REFERRED TO HEREINAFTER AND IS SUBJECT TO THE RESTRICTIONS ON THE TRANSFER AND EXCHANGE HEREOF AS SPECIFIED IN THE INDENTURE. UNTIL 40 DAYS AFTER THE ISSUE DATE HEREOF, AN OFFER OR SALE OF THE NOTES WITHIN THE UNITED STATES
BY A DEALER (AS DEFINED IN THE SECURITIES ACT OF 1933, AS AMENDED) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED, IF SUCH OFFER OR SALE IS MADE OTHERWISE THAN IN ACCORDANCE WITH RULE 144A UNDER THE SECURITIES
ACT OF 1933, AS AMENDED.] 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS
NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE
INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS
GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT
IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

 1 

 THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE.
BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 
 (1) REPRESENTS THAT (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”) OR (B) IT IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT;

 (2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE COMPANY OR ANY OF ITS
SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION MEETING THE
REQUIREMENTS OF RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM
THIS SECURITY OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 
 AS USED HEREIN, THE
TERMS “OFFSHORE TRANSACTION” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE GOVERNING THIS SECURITY CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO
REGISTER ANY TRANSFER OF THIS SECURITY IN VIOLATION OF THE FOREGOING. 
  

 2 

 New Communications Holdings Inc. 

 

			
	 No. Regulation S -
	  	8.500% SENIOR NOTE DUE 2020
	
	 ORIGINAL ISSUE DATE: April 12, 2010

	 $[    ],000,000
	  	 CUSIP: U3144QAC4

ISIN No.: USU3144QAC43

New Communications Holdings Inc., a corporation duly organized and existing under the laws of the State of Delaware (prior to the
consummation of the Merger, the “Company”), for value received, hereby promises to pay Cede & Co., or its registered assigns, the principal sum of $ [ ] ([ ] dollars), or such other principal sum as set forth in the
Schedule of Exchanges of Interests in the Global Note attached hereto, on April 15, 2020, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and
to pay semi–annually in arrears on October 15 and April 15 of each year (each, an “Interest Payment Date”), commencing October 15, 2010, and at maturity (or on any redemption or repayment date) the amount
of interest on said principal sum at said office or agency, in like coin or currency, at the rate of 8.500% per annum, from April 12, 2010 or from the most recent Interest Payment Date to which interest has been paid or duly provided for
until said principal sum has been paid or duly provided for. Interest shall be computed on the basis of a 360–day year consisting of twelve 30–day months. 

The interest payable on any Interest Payment Date, which is punctually paid or duly provided for on such Interest Payment Date, will be
paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on April 1 or October 1, respectively (in each case, whether or not a Business Day), as the case may be (each, a
“Regular Record Date”), immediately preceding such Interest Payment Date (except interest payable on October 15, 2010 will be to the Person in whose names this Note is registered on October 5, 2010). Interest
payable on this Note, which is not punctually paid or duly provided for on any Interest Payment Date therefor, shall forthwith cease to be payable to the Person in whose name this Note is registered at the close of business on the Regular Record
Date immediately preceding such Interest Payment Date, and such interest may either (i) be paid to the Person in whose name this Note is registered at the close of business on a special record date to be established for such payment by the
Trustee or (ii) be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, all as more fully provided in the Indenture referred to on the reverse hereof. 

Payment of the principal of this Note, any premium and the interest due at maturity (or on any redemption or repayment date) will be made
in immediately available funds upon surrender of this Note at the office or agency of the Paying Agent, as defined on the reverse hereof, maintained for that purpose in the Borough of Manhattan, The City of New York, or at such other paying agency
as the Company may determine. At the option of the Company, interest on the Notes may be paid (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the register of Holders of the Notes or (ii) at
the expense of the Company, by wire transfer to an account maintained by the Person entitled thereto as specified in writing to the Trustee, by such Person by the applicable record date of the Notes. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
 This Note shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the reverse hereof. 
  

 3 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officer. 
  

			
	NEW COMMUNICATIONS HOLDINGS INC.
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Global 

Notes referred to in the 
 within–mentioned
Indenture: 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated: April 12,
2010 
  

 4 

 [REVERSE OF NOTE] 

NOTE DUE 
 1.
INDENTURE. (a) This Note is one of a duly authorized issue of senior debt securities of the Company of a series designated as the 8.500% Senior Notes Due 2020 of the Company (the “Notes”), originally issued in an
aggregate principal amount of $1,100,000,000, all issued or to be issued under and pursuant to the Indenture, dated as of April 12, 2010 (the “Indenture”), between the Company and The Bank of New York Mellon (the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. The Company has appointed The Bank of New York Mellon at its
principal corporate trust office in The City of New York as the paying agent (the “Paying Agent”, which term includes any additional or successor Paying Agent appointed by the Company) with respect to the Notes. To the extent
not inconsistent herewith, the terms of the Indenture are hereby incorporated by reference herein. 
 (b) All capitalized terms
used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

2. AMENDMENTS AND WAIVERS. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Notes to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the
time outstanding. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Notes at the time outstanding to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. 
 3. OBLIGATION TO PAY PRINCIPAL, PREMIUM, IF ANY, AND INTEREST. No reference herein to
the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company or any other obligor on the Notes, which is absolute and unconditional, to pay the principal of, premium, if any, and interest (and
from and after the effective time of the Merger, special interest, if any, as provided in Section 2 of the Registration Rights Agreement for the Notes) on the Notes in the manner, at the respective times, at the rate, at the place and in the
coin or currency herein prescribed. 
 4. OPTIONAL REDEMPTION. From and after the effective time of the Merger, the Notes are redeemable at the
Company’s election, in whole or in part, at any time at a redemption price equal to the greater of: 
  

	 	(1)	100% of the principal amount of the Notes to be redeemed then outstanding; and 

 

	 	(2)	as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be
redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate,
plus 50 basis points 

 plus, in either of the above cases, accrued and unpaid interest to the date of redemption on the
Notes to be redeemed. 
 If the redemption date is on or after an interest record date and on or before the related interest payment date, the
accrued and unpaid interest, if any, will be paid to the person in whose name the note is registered at the close of business on such interest record date. 
  

 R-1 

 The Company will mail a notice of redemption at least 30 days but not more than 60 days before the
redemption date to each holder of the securities to be redeemed as described in this Paragraph 4. 
 Unless the Company defaults in payment of
the redemption price, on and after the redemption date, interest will cease to accrue on the notes or portions thereof called for redemption. 

For purposes of the foregoing, the following terms shall have the following meanings: 

“Adjusted Treasury Rate” means, with respect to any redemption date: 

(a) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury
securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest
month); or 
 (b) if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such redemption date. 
 The Adjusted Treasury Rate shall be calculated on the third
Business Day preceding the redemption date. 
 “Comparable Treasury Issue” means the
United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the applicable series of Notes that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes (“Remaining Life”). 

“Comparable Treasury Price” means, for any redemption date, (1) the average of four Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations the
average of all such quotations. 
 “Independent Investment Banker” means one of the
Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means
any of the primary U.S. Government securities dealers in New York City. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed
in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

5. SPECIAL MANDATORY REDEMPTION. In the event that the Merger Agreement is terminated or the Spin-Off and the Merger are not completed on or prior to
October 1, 2010, the Notes will be redeemed 
  

 R-2 

 
at a special redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest on the principal amount of the Notes, to but not including the date of redemption, as
set forth in the Indenture. 
 6. REPURCHASE AT OPTION OF HOLDER. From and after the effective time of the Merger, upon the occurrence of a
Change of Control Triggering Event, and subject to certain conditions set forth in the Indenture, the Company will be required to offer to purchase all of the outstanding Notes at a purchase price equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, thereon to the date of repurchase. 
 7. CERTAIN COVENANTS. With certain exceptions as therein provided,
the Indenture restricts the ability of the Company and its Subsidiaries to incur indebtedness, create certain liens and merge or consolidate with other Persons. These covenants are subject to the covenant defeasance procedures outlined in the
Indenture. 
 8. EFFECT OF EVENT OF DEFAULT. If an Event of Default shall have occurred and be continuing under the Indenture, the principal
hereof may be declared, and upon such declaration shall become, due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

9. DEFEASANCE. The Indenture contains provisions for defeasance and covenant defeasance at any time of the Indebtedness on this Note upon compliance by
the Company with certain conditions set forth therein. 
 10. DENOMINATIONS; EXCHANGES. The Notes are issuable in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof, at the office or agency of the Company in the Borough of Manhattan, The City of New York, and in the manner and, subject to the limitations provided in the
Indenture, Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations. 
 [INSERT IN THE CASE OF
THE TEMPORARY REGULATION S NOTE] [This Regulation S Temporary Global Note shall be exchanged for one or more Regulation S Permanent Global Notes following the expiration of the Distribution Compliance Period as provided for in the Indenture.
Upon exchange of this Regulation S Temporary Global Note for one or more Regulation S Permanent Global Notes, the Trustee shall cancel this Regulation S Temporary Global Note.] 

11. HOLDER AS OWNER. Prior to due presentment for the registration of transfer of this Note, the Trustee, any Agent and the Company may deem and treat
the Person in whose name this Note is registered as the absolute owner of this Note for the purpose of receiving payment of principal of, premium, if any, and interest on this Note and for all other purposes, in each case regardless of any notice to
the contrary. 
 12. NO LIABILITY OF CERTAIN PERSONS. No past, present or future director, officer, employee, incorporator or stockholder of the
Company, as such, shall have any liability for any obligations, covenants or agreements of the Company under the Notes or the 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 and release may not be effective to waive or release liabilities under the federal
securities laws. 
 13. LOSS, THEFT OR DESTRUCTION. If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives
evidence to its satisfaction of the destruction, loss or theft of such Note, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 of the Indenture, the Trustee shall authenticate a replacement
Note. If required by the Trustee or the Company, the Holder of such Note shall provide indemnity that is sufficient, in the judgment of the Trustee or the Company, to protect the Company, the Trustee, any Agent and any authenticating agent from any
loss that any of them may suffer in connection with such replacement. If required by the Company, such Holder shall reimburse the Company for its reasonable expenses in connection with such replacement. 

 

 R-3 

 Every replacement Note issued in accordance with Section 2.07 of the Indenture shall be the valid
obligation of the Company, evidencing the same Indebtedness as the destroyed, lost or stolen Note, and shall be entitled to all of the benefits of the Indenture equally and proportionately with all other Notes duly issued under the Indenture.

 14. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to the rights provided to Holders of
Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have all the rights set forth in the Registration Rights Agreement for the Notes or, in the case of additional Notes permitted under
Section 2.15 of the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have the rights set forth in one or more registration rights agreements, if any, among Frontier Communications Corporation and the other
parties thereto, relating to rights to be given by Frontier Communications Corporation to the purchasers of any such additional Notes. 
 15.
GOVERNING LAW. This Note shall be governed by, and construed in accordance with, the laws of the State of New York. 
 16. SUPPLEMENTAL
INDENTURE. Concurrently with the closing of the Merger, Frontier Communications Corporation shall execute and deliver to the Trustee a supplemental indenture pursuant to which Frontier Communications Corporation shall expressly assume the due and
punctual payment of the principal of (and premium, if any) and interest on the Notes and the performance and observance of all of the covenants and conditions of the Indenture to be performed or observed by the Company. As used in this Note, the
“Company” shall mean Frontier Communications Corporation following the consummation of the Merger. 
  

 R-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto: 

PLEASE INSERT SOCIAL SECURITY NUMBER OR TAXPAYER IDENTIFICATION NUMBER OF ASSIGNEE 

PLEASE PRINT OR TYPE NAME AND ADDRESS, 

INCLUDING ZIP CODE, OF ASSIGNEE 

the within Note of New Communications Holdings Inc. and all rights thereunder and hereby irrevocably constitutes and appoints such person attorney to
transfer such Note on the books of New Communications Holdings Inc., with full power of substitution in the premises. 
 Dated: 

Signature 
 NOTICE: THE
SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER. THE SIGNATURE SHOULD BE MEDALLION GUARANTEED BY A
COMMERCIAL BANK OR TRUST COMPANY, A MEMBER ORGANIZATION OF THE NEW YORK STOCK EXCHANGE. 
  

									
	 Signature Guarantee:
	 		 		  	Tax Identification No.:	  	
	  
	 		 		  	  
	  	
			
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.	  		  	

  

 R-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
Decrease in
Principal Amount
of this Global Note	  	Amount of
Increase in
Principal Amount
of this Global Note	  	Principal Amount
of this Global Note
following such
Decrease
(or
Increase)	  	Signature of
authorized
Signatory of
Trustee or
Custodian
		  		  		  		  	

  

 R-6 

 EXHIBIT G 

FORM OF 2022 RULE 144A GLOBAL NOTE 

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF
THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN. 
 THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE. BY ITS
ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 
 (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”) OR (B) IT IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT; 

 

 1 

 (2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO
THE COMPANY OR ANY OF ITS SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE
TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH THE
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (3) AGREES THAT IT
WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 

AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE
902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE GOVERNING THIS SECURITY CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS SECURITY IN VIOLATION OF THE FOREGOING. 

New Communications Holdings Inc. 
  

			
	 No. 144A -
	  	8.750% SENIOR NOTE DUE 2022
	
	 ORIGINAL ISSUE DATE: April 12, 2010

	 $[    ],000,000
	  	 CUSIP: 35906AAJ7

ISIN No.: US35906AAJ79

New Communications Holdings Inc., a corporation duly organized and existing under the laws of the State of Delaware (prior to the
consummation of the Merger, the “Company”), for value received, hereby promises to pay Cede & Co., or its registered assigns, the principal sum of $ [    ] ([    ] dollars), or
such other principal sum as set forth in the Schedule of Exchanges of Interests in the Global Note attached hereto, on April 15, 2022, in such coin or currency of the United States of America as at the time of payment shall be legal tender for
the payment of public and private debts, and to pay semi–annually in arrears on October 15 and April 15 of each year (each, an “Interest Payment Date”), commencing October 15, 2010, and at maturity (or on
any redemption or repayment date) the amount of interest on said 
  

 2 

 
principal sum at said office or agency, in like coin or currency, at the rate of 8.750% per annum, from April 12, 2010 or from the most recent Interest Payment Date to which interest
has been paid or duly provided for until said principal sum has been paid or duly provided for. Interest shall be computed on the basis of a 360–day year consisting of twelve 30–day months. 

The interest payable on any Interest Payment Date, which is punctually paid or duly provided for on such Interest Payment Date, will be
paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on April 1 or October 1, respectively (in each case, whether or not a Business Day), as the case may be (each, a
“Regular Record Date”), immediately preceding such Interest Payment Date (except interest payable on October 15, 2010 will be to the Person in whose names this Note is registered on October 5, 2010). Interest
payable on this Note, which is not punctually paid or duly provided for on any Interest Payment Date therefor, shall forthwith cease to be payable to the Person in whose name this Note is registered at the close of business on the Regular Record
Date immediately preceding such Interest Payment Date, and such interest may either (i) be paid to the Person in whose name this Note is registered at the close of business on a special record date to be established for such payment by the
Trustee or (ii) be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, all as more fully provided in the Indenture referred to on the reverse hereof. 

Payment of the principal of this Note, any premium and the interest due at maturity (or on any redemption or repayment date) will be made
in immediately available funds upon surrender of this Note at the office or agency of the Paying Agent, as defined on the reverse hereof, maintained for that purpose in the Borough of Manhattan, The City of New York, or at such other paying agency
as the Company may determine. At the option of the Company, interest on the Notes may be paid (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the register of Holders of the Notes or (ii) at
the expense of the Company, by wire transfer to an account maintained by the Person entitled thereto as specified in writing to the Trustee, by such Person by the applicable record date of the Notes. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
 This Note shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the reverse hereof. 
  

 3 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officer. 
  

			
	NEW COMMUNICATIONS HOLDINGS INC.
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Global 

Notes referred to in the 
 within–mentioned
Indenture: 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated: April 12,
2010 
  

 4 

 [REVERSE OF NOTE] 

NOTE DUE 
 1.
INDENTURE. (a) This Note is one of a duly authorized issue of senior debt securities of the Company of a series designated as the 8.750% Senior Notes Due 2022 of the Company (the “Notes”), originally issued in an
aggregate principal amount of $500,000,000, all issued or to be issued under and pursuant to the Indenture, dated as of April 12, 2010 (the “Indenture”), between the Company and The Bank of New York Mellon (the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. The Company has appointed The Bank of New York Mellon at its
principal corporate trust office in The City of New York as the paying agent (the “Paying Agent”, which term includes any additional or successor Paying Agent appointed by the Company) with respect to the Notes. To the extent
not inconsistent herewith, the terms of the Indenture are hereby incorporated by reference herein. 
 (b) All capitalized terms
used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

2. AMENDMENTS AND WAIVERS. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Notes to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the
time outstanding. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Notes at the time outstanding to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. 
 3. OBLIGATION TO PAY PRINCIPAL, PREMIUM, IF ANY, AND INTEREST. No reference herein to
the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company or any other obligor on the Notes, which is absolute and unconditional, to pay the principal of, premium, if any, and interest (and
from and after the effective time of the Merger, special interest, if any, as provided in Section 2 of the Registration Rights Agreement for the Notes) on the Notes in the manner, at the respective times, at the rate, at the place and in the
coin or currency herein prescribed. 
 4. OPTIONAL REDEMPTION. From and after the effective time of the Merger, the Notes are redeemable at the
Company’s election, in whole or in part, at any time at a redemption price equal to the greater of: 
  

	 	(1)	100% of the principal amount of the Notes to be redeemed then outstanding; and 

 

	 	(2)	as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be
redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate,
plus 50 basis points 

 plus, in either of the above cases, accrued and unpaid interest to the date of redemption on the
Notes to be redeemed. 
 If the redemption date is on or after an interest record date and on or before the related interest payment date, the
accrued and unpaid interest, if any, will be paid to the person in whose name the note is registered at the close of business on such interest record date. 
  

 R-1 

 The Company will mail a notice of redemption at least 30 days but not more than 60 days before the
redemption date to each holder of the securities to be redeemed as described in this Paragraph 4. 
 Unless the Company defaults in payment of
the redemption price, on and after the redemption date, interest will cease to accrue on the notes or portions thereof called for redemption. 

For purposes of the foregoing, the following terms shall have the following meanings: 

“Adjusted Treasury Rate” means, with respect to any redemption date: 

(a) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently
published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury
securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest
month); or 
 (b) if such release (or any successor release) is not published during the week preceding the calculation date or
does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such redemption date. 
 The Adjusted Treasury Rate shall be calculated on the third
Business Day preceding the redemption date. 
 “Comparable Treasury Issue” means the
United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the applicable series of Notes that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes (“Remaining Life”). 

“Comparable Treasury Price” means, for any redemption date, (1) the average of four Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations the
average of all such quotations. 
 “Independent Investment Banker” means one of the
Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means
any of the primary U.S. Government securities dealers in New York City. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed
in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

5. SPECIAL MANDATORY REDEMPTION. In the event that the Merger Agreement is terminated or the Spin-Off and the Merger are not completed on or prior to
October 1, 2010, the Notes will be redeemed 
  

 R-2 

 
at a special redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest on the principal amount of the Notes, to but not including the date of redemption, as
set forth in the Indenture. 
 6. REPURCHASE AT OPTION OF HOLDER. From and after the effective time of the Merger, upon the occurrence of a
Change of Control Triggering Event, and subject to certain conditions set forth in the Indenture, the Company will be required to offer to purchase all of the outstanding Notes at a purchase price equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, if any, thereon to the date of repurchase. 
 7. CERTAIN COVENANTS. With certain exceptions as therein provided,
the Indenture restricts the ability of the Company and its Subsidiaries to incur indebtedness, create certain liens and merge or consolidate with other Persons. These covenants are subject to the covenant defeasance procedures outlined in the
Indenture. 
 8. EFFECT OF EVENT OF DEFAULT. If an Event of Default shall have occurred and be continuing under the Indenture, the principal
hereof may be declared, and upon such declaration shall become, due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

9. DEFEASANCE. The Indenture contains provisions for defeasance and covenant defeasance at any time of the Indebtedness on this Note upon compliance by
the Company with certain conditions set forth therein. 
 10. DENOMINATIONS; EXCHANGES. The Notes are issuable in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof, at the office or agency of the Company in the Borough of Manhattan, The City of New York, and in the manner and, subject to the limitations provided in the
Indenture, Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations. 
 11. HOLDER AS OWNER.
Prior to due presentment for the registration of transfer of this Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name this Note is registered as the absolute owner of this Note for the purpose of receiving
payment of principal of, premium, if any, and interest on this Note and for all other purposes, in each case regardless of any notice to the contrary. 

12. NO LIABILITY OF CERTAIN PERSONS. No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, shall
have any liability for any obligations, covenants or agreements of the Company under the Notes or the 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 and release may not be effective to waive or release liabilities under the federal securities laws. 

13. LOSS, THEFT OR DESTRUCTION. If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction
of the destruction, loss or theft of such Note, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 of the Indenture, the Trustee shall authenticate a replacement Note. If required by the Trustee
or the Company, the Holder of such Note shall provide indemnity that is sufficient, in the judgment of the Trustee or the Company, to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer
in connection with such replacement. If required by the Company, such Holder shall reimburse the Company for its reasonable expenses in connection with such replacement. 

Every replacement Note issued in accordance with Section 2.07 of the Indenture shall be the valid obligation of the Company, evidencing the same
Indebtedness as the destroyed, lost or stolen Note, and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued under the Indenture. 

 

 R-3 

 14. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to
the rights provided to Holders of Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have all the rights set forth in the Registration Rights Agreement for the Notes or, in the case of additional
Notes permitted under Section 2.15 of the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have the rights set forth in one or more registration rights agreements, if any, among Frontier Communications
Corporation and the other parties thereto, relating to rights to be given by Frontier Communications Corporation to the purchasers of any such additional Notes. 

15. GOVERNING LAW. This Note shall be governed by, and construed in accordance with, the laws of the State of New York. 

16. SUPPLEMENTAL INDENTURE. Concurrently with the closing of the Merger, Frontier Communications Corporation shall execute and deliver to the Trustee a
supplemental indenture pursuant to which Frontier Communications Corporation shall expressly assume the due and punctual payment of the principal of (and premium, if any) and interest on the Notes and the performance and observance of all of the
covenants and conditions of the Indenture to be performed or observed by the Company. As used in this Note, the “Company” shall mean Frontier Communications Corporation following the consummation of the Merger. 

 

 R-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto: 

PLEASE INSERT SOCIAL SECURITY NUMBER OR TAXPAYER IDENTIFICATION NUMBER OF ASSIGNEE 

PLEASE PRINT OR TYPE NAME AND ADDRESS, 

INCLUDING ZIP CODE, OF ASSIGNEE 

the within Note of New Communications Holdings Inc. and all rights thereunder and hereby irrevocably constitutes and appoints such person attorney to
transfer such Note on the books of New Communications Holdings Inc., with full power of substitution in the premises. 
 Dated: 

Signature 
 NOTICE: THE
SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER. THE SIGNATURE SHOULD BE MEDALLION GUARANTEED BY A
COMMERCIAL BANK OR TRUST COMPANY, A MEMBER ORGANIZATION OF THE NEW YORK STOCK EXCHANGE. 
  

									
	 Signature Guarantee:
	 		 		  	Tax Identification No.:	  	
	  
	 		 		  	  
	  	
			
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.	  		  	

  

 R-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
Decrease in
Principal Amount
of this Global Note	  	Amount of
Increase in
Principal Amount
of this Global Note	  	Principal Amount
of this Global Note
following such
Decrease
(or
Increase)	  	Signature of
authorized
Signatory of
Trustee or
Custodian
		  		  		  		  	

  

 R-6 

 EXHIBIT H 

FORM OF 2022 REGULATION S GLOBAL NOTE 

[INSERT IN THE CASE OF THE REGULATION S TEMPORARY GLOBAL NOTE] [THIS SECURITY IS A REGULATION S TEMPORARY GLOBAL NOTE WITHIN THE
MEANING OF THE INDENTURE REFERRED TO HEREINAFTER AND IS SUBJECT TO THE RESTRICTIONS ON THE TRANSFER AND EXCHANGE HEREOF AS SPECIFIED IN THE INDENTURE. UNTIL 40 DAYS AFTER THE ISSUE DATE HEREOF, AN OFFER OR SALE OF THE NOTES WITHIN THE UNITED STATES
BY A DEALER (AS DEFINED IN THE SECURITIES ACT OF 1933, AS AMENDED) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED, IF SUCH OFFER OR SALE IS MADE OTHERWISE THAN IN ACCORDANCE WITH RULE 144A UNDER THE SECURITIES
ACT OF 1933, AS AMENDED.] 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS
NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE
INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS
GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT
IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR 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 SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

 1 

 THIS SECURITY (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE NEXT SENTENCE.
BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 
 (1) REPRESENTS THAT (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”) OR (B) IT IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT;

 (2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE COMPANY OR ANY OF ITS
SUBSIDIARIES, (B) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION MEETING THE
REQUIREMENTS OF RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM
THIS SECURITY OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 
 AS USED HEREIN, THE
TERMS “OFFSHORE TRANSACTION” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE GOVERNING THIS SECURITY CONTAINS A PROVISION REQUIRING THE TRUSTEE TO REFUSE TO
REGISTER ANY TRANSFER OF THIS SECURITY IN VIOLATION OF THE FOREGOING. 
  

 2 

 New Communications Holdings Inc. 

 

			
	 No. Regulation S -
	  	8.750% SENIOR NOTE DUE 2022
	
	 ORIGINAL ISSUE DATE: April 12, 2010

	 $[    ],000,000
	  	 CUSIP: U3144QAD2

ISIN No.: USU3144QAD26

New Communications Holdings Inc., a corporation duly organized and existing under the laws of the State of Delaware (prior to the
consummation of the Merger, the “Company”), for value received, hereby promises to pay Cede & Co., or its registered assigns, the principal sum of $ [ ] ([ ] dollars), or such other principal sum as set forth in the
Schedule of Exchanges of Interests in the Global Note attached hereto, on April 15, 2022, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and
to pay semi–annually in arrears on October 15 and April 15 of each year (each, an “Interest Payment Date”), commencing October 15, 2010, and at maturity (or on any redemption or repayment date) the amount
of interest on said principal sum at said office or agency, in like coin or currency, at the rate of 8.750% per annum, from April 12, 2010 or from the most recent Interest Payment Date to which interest has been paid or duly provided for
until said principal sum has been paid or duly provided for. Interest shall be computed on the basis of a 360–day year consisting of twelve 30–day months. 

The interest payable on any Interest Payment Date, which is punctually paid or duly provided for on such Interest Payment Date, will be
paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on April 1 or October 1, respectively (in each case, whether or not a Business Day), as the case may be (each, a
“Regular Record Date”), immediately preceding such Interest Payment Date (except interest payable on October 15, 2010 will be to the Person in whose names this Note is registered on October 5, 2010). Interest
payable on this Note, which is not punctually paid or duly provided for on any Interest Payment Date therefor, shall forthwith cease to be payable to the Person in whose name this Note is registered at the close of business on the Regular Record
Date immediately preceding such Interest Payment Date, and such interest may either (i) be paid to the Person in whose name this Note is registered at the close of business on a special record date to be established for such payment by the
Trustee or (ii) be paid in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, all as more fully provided in the Indenture referred to on the reverse hereof. 

Payment of the principal of this Note, any premium and the interest due at maturity (or on any redemption or repayment date) will be made
in immediately available funds upon surrender of this Note at the office or agency of the Paying Agent, as defined on the reverse hereof, maintained for that purpose in the Borough of Manhattan, The City of New York, or at such other paying agency
as the Company may determine. At the option of the Company, interest on the Notes may be paid (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the register of Holders of the Notes or (ii) at
the expense of the Company, by wire transfer to an account maintained by the Person entitled thereto as specified in writing to the Trustee, by such Person by the applicable record date of the Notes. 

Reference is made to the further provisions of this Note set forth on the reverse hereof. Such further provisions shall for all purposes
have the same effect as though fully set forth at this place. 
 This Note shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been signed by the Trustee under the Indenture referred to on the reverse hereof. 
  

 3 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officer. 
  

			
	 NEW COMMUNICATIONS HOLDINGS INC.

		
	 By:
	 	  

		 	Name:
		 	Title:

 This is one of the Global 

Notes referred to in the 
 within–mentioned
Indenture: 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated: April 12,
2010 
  

 4 

 [REVERSE OF NOTE] 

NOTE DUE 
 1.
INDENTURE. (a) This Note is one of a duly authorized issue of senior debt securities of the Company of a series designated as the 8.750% Senior Notes Due 2022 of the Company (the “Notes”), originally issued in an
aggregate principal amount of $500,000,000, all issued or to be issued under and pursuant to the Indenture, dated as of April 12, 2010 (the “Indenture”), between the Company and The Bank of New York Mellon (the
“Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes, and the terms upon which the Notes are, and are to be, authenticated and delivered. The Company has appointed The Bank of New York Mellon at its
principal corporate trust office in The City of New York as the paying agent (the “Paying Agent”, which term includes any additional or successor Paying Agent appointed by the Company) with respect to the Notes. To the extent
not inconsistent herewith, the terms of the Indenture are hereby incorporated by reference herein. 
 (b) All capitalized terms
used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

2. AMENDMENTS AND WAIVERS. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Notes to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Notes at the
time outstanding. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Notes at the time outstanding to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. 
 3. OBLIGATION TO PAY PRINCIPAL, PREMIUM, IF ANY, AND INTEREST. No reference herein to
the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company or any other obligor on the Notes, which is absolute and unconditional, to pay the principal of, premium, if any, and interest (and
from and after the effective time of the Merger, special interest, if any, as provided in Section 2 of the Registration Rights Agreement for the Notes) on the Notes in the manner, at the respective times, at the rate, at the place and in the
coin or currency herein prescribed. 
 4. OPTIONAL REDEMPTION. From and after the effective time of the Merger, the Notes are redeemable at the
Company’s election, in whole or in part, at any time at a redemption price equal to the greater of: 
  

	 	(1)	100% of the principal amount of the Notes to be redeemed then outstanding; and 

 

	 	(2)	as determined by an Independent Investment Banker, the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be
redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate,
plus 50 basis points 

 plus, in either of the above cases, accrued and unpaid interest to the date of redemption on the
Notes to be redeemed. 
 If the redemption date is on or after an interest record date and on or before the related interest payment date, the
accrued and unpaid interest, if any, will be paid to the person in whose name the note is registered at the close of business on such interest record date. 

The Company will mail a notice of redemption at least 30 days but not more than 60 days before the redemption date to each holder of the securities to be
redeemed as described in this Paragraph 4. 
  

 R-1 

 Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest
will cease to accrue on the notes or portions thereof called for redemption. 
 For purposes of the foregoing, the following
terms shall have the following meanings: 
 “Adjusted Treasury Rate” means, with respect
to any redemption date: 
 (a) the yield, under the heading which represents the average for the immediately preceding week,
appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively
traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after
the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line
basis, rounding to the nearest month); or 
 (b) if such release (or any successor release) is not published during the week
preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 
 The Adjusted Treasury
Rate shall be calculated on the third Business Day preceding the redemption date. 
 “Comparable Treasury
Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the applicable series of Notes that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes (“Remaining Life”). 

“Comparable Treasury Price” means, for any redemption date, (1) the average of four Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations the
average of all such quotations. 
 “Independent Investment Banker” means one of the
Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer” means
any of the primary U.S. Government securities dealers in New York City. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed
in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

5. SPECIAL MANDATORY REDEMPTION. In the event that the Merger Agreement is terminated or the Spin-Off and the Merger are not completed on or prior to
October 1, 2010, the Notes will be redeemed at a special redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest on the principal amount of the Notes, to but not including the date of redemption, as set
forth in the Indenture. 
 6. REPURCHASE AT OPTION OF HOLDER. From and after the effective time of the Merger, upon the occurrence of a Change
of Control Triggering Event, and subject to certain conditions set forth in the Indenture, the Company will be required to offer to purchase all of the outstanding Notes at a purchase price equal to 101% of the principal amount thereof, plus accrued
and unpaid interest, if any, thereon to the date of repurchase. 
  

 R-2 

 7. CERTAIN COVENANTS. With certain exceptions as therein provided, the Indenture restricts the ability of
the Company and its Subsidiaries to incur indebtedness, create certain liens and merge or consolidate with other Persons. These covenants are subject to the covenant defeasance procedures outlined in the Indenture. 

8. EFFECT OF EVENT OF DEFAULT. If an Event of Default shall have occurred and be continuing under the Indenture, the principal hereof may be declared,
and upon such declaration shall become, due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

9. DEFEASANCE. The Indenture contains provisions for defeasance and covenant defeasance at any time of the Indebtedness on this Note upon compliance by
the Company with certain conditions set forth therein. 
 10. DENOMINATIONS; EXCHANGES. The Notes are issuable in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof, at the office or agency of the Company in the Borough of Manhattan, The City of New York, and in the manner and, subject to the limitations provided in the
Indenture, Notes may be exchanged for a like aggregate principal amount of Notes of other authorized denominations. 
 [INSERT IN THE CASE OF
THE TEMPORARY REGULATION S NOTE] [This Regulation S Temporary Global Note shall be exchanged for one or more Regulation S Permanent Global Notes following the expiration of the Distribution Compliance Period as provided for in the Indenture.
Upon exchange of this Regulation S Temporary Global Note for one or more Regulation S Permanent Global Notes, the Trustee shall cancel this Regulation S Temporary Global Note.] 

11. HOLDER AS OWNER. Prior to due presentment for the registration of transfer of this Note, the Trustee, any Agent and the Company may deem and treat
the Person in whose name this Note is registered as the absolute owner of this Note for the purpose of receiving payment of principal of, premium, if any, and interest on this Note and for all other purposes, in each case regardless of any notice to
the contrary. 
 12. NO LIABILITY OF CERTAIN PERSONS. No past, present or future director, officer, employee, incorporator or stockholder of the
Company, as such, shall have any liability for any obligations, covenants or agreements of the Company under the Notes or the 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 and release may not be effective to waive or release liabilities under the federal
securities laws. 
 13. LOSS, THEFT OR DESTRUCTION. If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives
evidence to its satisfaction of the destruction, loss or theft of such Note, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 of the Indenture, the Trustee shall authenticate a replacement
Note. If required by the Trustee or the Company, the Holder of such Note shall provide indemnity that is sufficient, in the judgment of the Trustee or the Company, to protect the Company, the Trustee, any Agent and any authenticating agent from any
loss that any of them may suffer in connection with such replacement. If required by the Company, such Holder shall reimburse the Company for its reasonable expenses in connection with such replacement. 

Every replacement Note issued in accordance with Section 2.07 of the Indenture shall be the valid obligation of the Company, evidencing the same
Indebtedness as the destroyed, lost or stolen Note, and shall be entitled to all of the benefits of the Indenture equally and proportionately with all other Notes duly issued under the Indenture. 

14. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to the rights provided to Holders of Notes under
the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have all the rights set forth in the Registration Rights Agreement for the Notes or, in the case of additional Notes permitted under Section 2.15 of the
Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have the rights set forth in one or more registration rights agreements, if any, among Frontier Communications Corporation and the other parties thereto, relating to
rights to be given by Frontier Communications Corporation to the purchasers of any such additional Notes. 
  

 R-3 

 15. GOVERNING LAW. This Note shall be governed by, and construed in accordance with, the laws of the State
of New York. 
 16. SUPPLEMENTAL INDENTURE. Concurrently with the closing of the Merger, Frontier Communications Corporation shall execute and
deliver to the Trustee a supplemental indenture pursuant to which Frontier Communications Corporation shall expressly assume the due and punctual payment of the principal of (and premium, if any) and interest on the Notes and the performance and
observance of all of the covenants and conditions of the Indenture to be performed or observed by the Company. As used in this Note, the “Company” shall mean Frontier Communications Corporation following the consummation of the Merger.

  

 R-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto: 

PLEASE INSERT SOCIAL SECURITY NUMBER OR TAXPAYER IDENTIFICATION NUMBER OF ASSIGNEE 

PLEASE PRINT OR TYPE NAME AND ADDRESS, 

INCLUDING ZIP CODE, OF ASSIGNEE 

the within Note of New Communications Holdings Inc. and all rights thereunder and hereby irrevocably constitutes and appoints such person attorney to
transfer such Note on the books of New Communications Holdings Inc., with full power of substitution in the premises. 
 Dated: 

Signature 
 NOTICE: THE
SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER. THE SIGNATURE SHOULD BE MEDALLION GUARANTEED BY A
COMMERCIAL BANK OR TRUST COMPANY, A MEMBER ORGANIZATION OF THE NEW YORK STOCK EXCHANGE. 
  

									
	 Signature Guarantee:
	 		 		  	Tax Identification No.:	  	
	  
	 		 		  	  
	  	
			
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the
Securities Exchange Act of 1934, as amended.	  		  	

  

 R-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
Decrease in
Principal Amount
of this Global Note	  	Amount of
Increase in
Principal Amount
of this Global Note	  	Principal Amount
of this Global Note
following such
Decrease
(or
Increase)	  	Signature of
authorized
Signatory of
Trustee or
Custodian
		  		  		  		  	

  

 R-6 

 EXHIBIT I 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

“This is one of the [Global] 
 Notes
referred to in the 
 within–mentioned Indenture: 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Authorized Signatory”

  

 B-1 

 EXHIBIT J 

FORM OF CERTIFICATE OF TRANSFER 

[Prior to the closing of the Merger: 
 New
Communications Holdings Inc. 
 3900 Washington Street, 2nd Floor 

Wilmington, DE 19802 

Attention:        ] 

[After the closing of the Merger: 
 Frontier
Communications Corporation 
 3 High Ridge Park 

Stamford, CT 06905] 
 The Bank of New York
Mellon 
 101 Barclay Street, Floor 8W 

New York, NY 10286 
 Attention: Corporate Trust
Division – Corporate Finance Unit 
 Fax No.: (212) 815-5704 

Re:                      
                                       

[Insert Series of Notes] 

Reference is hereby made to the Indenture, dated as of April 12, 2010 (the “Indenture”), by and between [Frontier
Communications Corporation, as successor by merger to] New Communications Holdings Inc., as issuer (the “Company”) and The Bank of New York Mellon, as trustee. Capitalized terms used but not defined herein shall have the meanings
given to them in the Indenture. 

                    , (the
“Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $             in such Note[s] or
interests (the “Transfer”), to                          (the “Transferee”), as further
specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY]

 1.  ̈ Check if Transferee will take delivery of a beneficial
interest in the 144A Global Note or a Definitive Note Pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities
Act”), and, accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or
Definitive Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer”

  

 B-1 

 
within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United
States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend
printed on the 144A Global Note and/or the Definitive Note and in the Indenture and the Securities Act. 
 2.
 ̈ Check if Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a Definitive Note pursuant to Regulation S. The Transfer is being effected pursuant to and in
accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was
originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or
through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts
have been made in contravention of the requirements of Rule 903(b) or Rule 904(a) of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and
(iv) if the proposed transfer is being made prior to the expiration of the Distribution Compliance Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon
consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the
Regulation S Global Note, the Regulation S Temporary Global Note and/or the Definitive Note and in the Indenture and the Securities Act. 

3.  ̈ Check if Transferee will take delivery of a beneficial interest in an
Unrestricted Global Note or of an Unrestricted Definitive Note. 
 (a)  ̈
Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act.
Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend
printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 
 (b)
 ̈ Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with
the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 
  

 B-2 

 (c)  ̈ Check if Transfer is Pursuant to
Other Exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. 

This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 

 

			
	  

		 	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:
		
	Dated:	 	  

 

 B-3 

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

											
		 	1.	  	The Transferor owns and proposes to transfer the following:	  	
				
		 		  	 [CHECK ONE OF (a) OR (b)]
	  	
						
		 		  	(a)	  	 ̈	  	a beneficial interest in the:	  	
						
		 		  	    (i)	  	 ̈	  	144A Global Note (CUSIP             ), or	  	
						
		 		  	    (ii)	  	 ̈	  	Regulation S Global Note (CUSIP             ), or	  	
						
		 		  	(b)	  	 ̈	  	a Restricted Definitive Note.	  	
				
		 	2.	  	After the Transfer the Transferee will hold:	  	
				
		 		  	 [CHECK ONE OF (a), (b) OR (c)]
	  	
						
		 		  	(a)	  	 ̈	  	a beneficial interest in the:	  	
						
		 		  	    (i)	  	 ̈	  	144A Global Note (CUSIP             ), or	  	
						
		 		  	    (ii)	  	 ̈	  	Regulation S Global Note (CUSIP             ), or	  	
						
		 		  	    (iii)	  	 ̈	  	Unrestricted Global Note (CUSIP             ); or	  	
						
		 		  	(b)	  	 ̈	  	a Restricted Definitive Note; or	  	
						
		 		  	(c)	  	 ̈	  	an Unrestricted Definitive Note,	  	
				
		 		  	in accordance with the terms of the Indenture.	  	

  

 B-4 

 EXHIBIT K 

FORM OF CERTIFICATE OF EXCHANGE 

[Prior to the closing of the Merger: 
 New
Communications Holdings Inc. 
 3900 Washington Street, 2nd Floor 

Wilmington, DE 19802 
 Attention:
        ] 
 [After the closing of the Merger: 

Frontier Communications Corporation 
 3 High
Ridge Park 
 Stamford, CT 06905] 
 The
Bank of New York Mellon 
 101 Barclay Street, Floor 8W 

New York, NY 10286 
 Attention: Corporate Trust
Division – Corporate Finance Unit 
 Fax No.: (212) 815-5704 

Re:                      
                                       

[Insert Series of Notes] 

Reference is hereby made to the Indenture, dated as of April 12, 2010 (the “Indenture”), by and between [Frontier
Communications Corporation, as successor by merger to] New Communications Holdings Inc., as issuer (the “Company”) and The Bank of New York Mellon, as trustee. Capitalized terms used but not defined herein shall have the meanings
given to them in the Indenture. 

                    , (the
“Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $             in such Note[s] or interests (the
“Exchange”). In connection with the Exchange, the Owner hereby certifies that: 
 1. Exchange of
Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note 

(a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to
beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the
Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global
Note and pursuant to and in accordance with the United States Securities Act of 1933, as amended (the 
  

 B-1 

 
“Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(b)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to
Unrestricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being
acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Note and pursuant to and in accordance with the Securities Act,
(iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in
compliance with any applicable blue sky securities laws of any state of the United States. 
 (c)
 ̈ Check if Exchange is from Restricted Definitive Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for a
beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the
transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order
to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(d)  ̈ Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive
Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owner’s own account
without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky
securities laws of any state of the United States. 
 2. Exchange of Restricted Definitive Notes or Beneficial Interests
in Restricted Global Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes 
 (a)
 ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted
Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed
Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the
Indenture and the Securities Act. 
  

 B-2 

 (b)  ̈ Check if Exchange is from
Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection with the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the [CIRCLE ONE] 144A Global Note, Regulation S Global
Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to the Restricted Definitive Note and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed
Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and
the Securities Act. 
  

 B-3 

 This certificate and the statements contained herein are made for your benefit and the
benefit of the Company. 
  

			
	  

		 	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:
		
	Dated:	 	  

 

 B-4Credit Agreement

 Exhibit 10.8 

 
  

 

 

 

 CREDIT AGREEMENT 

dated as of 

March 23, 2010 

among 
 FRONTIER
COMMUNICATIONS CORPORATION 
 The LENDERS Party Hereto 

JPMORGAN CHASE BANK, N. A. 

as Administrative Agent 

J.P. MORGAN SECURITIES INC. 

CREDIT SUISSE SECURITIES (USA) LLC 

as Joint Lead Arrangers and Joint Bookrunners 

and 
 CREDIT
SUISSE SECURITIES (USA) LLC 
 as Syndication Agent 

 
  

$750,000,000 
  

 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	 	 	  	Page
	  
 ARTICLE I

 
 DEFINITIONS

 

	 SECTION 1.01
	 	Defined Terms	  	1
	 SECTION 1.02
	 	Terms Generally	  	14
	 SECTION 1.03
	 	Accounting Terms; GAAP	  	14
	  
 ARTICLE II

 
 THE CREDITS

 

	 SECTION 2.01
	 	The Commitments	  	14
	 SECTION 2.02
	 	Loans and Borrowings	  	15
	 SECTION 2.03
	 	Requests for Borrowings	  	15
	 SECTION 2.04
	 	Letters of Credit	  	16
	 SECTION 2.05
	 	Funding of Borrowings	  	19
	 SECTION 2.06
	 	Interest Elections	  	20
	 SECTION 2.07
	 	Termination, Reduction and Increase of the Commitments	  	21
	 SECTION 2.08
	 	Repayment and Prepayment of Loans; Evidence of Debt	  	23
	 SECTION 2.09
	 	Fees	  	24
	 SECTION 2.10
	 	Interest	  	25
	 SECTION 2.11
	 	Alternate Rate of Interest	  	25
	 SECTION 2.12
	 	Increased Costs	  	26
	 SECTION 2.13
	 	Break Funding Payments	  	27
	 SECTION 2.14
	 	Taxes	  	27
	 SECTION 2.15
	 	Payments Generally; Pro Rata Treatment; Sharing of Setoffs	  	30
	 SECTION 2.16
	 	Mitigation Obligations; Replacement of Lenders	  	32
	 SECTION 2.17
	 	Defaulting Lenders	  	33
	  
 ARTICLE III

 
 REPRESENTATIONS AND WARRANTIES

 

	 SECTION 3.01
	 	Organization; Powers; Governmental Approvals	  	35
	 SECTION 3.02
	 	Financial Statements	  	35
	 SECTION 3.03
	 	No Material Adverse Change	  	36
	 SECTION 3.04
	 	Titles to Properties; Possession under Leases	  	36
	 SECTION 3.05
	 	Ownership of Subsidiaries	  	36
	 SECTION 3.06
	 	Litigation; Compliance with Laws	  	36
	 SECTION 3.07
	 	Agreements	  	37
	 SECTION 3.08
	 	Federal Reserve Regulations	  	37
	 SECTION 3.09
	 	Investment Company Act	  	37
	 SECTION 3.10
	 	Use of Proceeds	  	37
	 SECTION 3.11
	 	Tax Returns	  	37
	 SECTION 3.12
	 	No Material Misstatements	  	37
	 SECTION 3.13
	 	Employee Benefit Plans	  	38

  

 -i- 

					
	 	 	 	  	Page
			
	 SECTION 3.14
	 	Insurance	  	38
	  
 ARTICLE IV

 
 CONDITIONS

 

	 SECTION 4.01
	 	Effective Date	  	38
	 SECTION 4.02
	 	Each Credit Event	  	40
	  
 ARTICLE V

 
 AFFIRMATIVE COVENANTS

 

	 SECTION 5.01
	 	Existence; Businesses and Properties	  	41
	 SECTION 5.02
	 	Financial Statements, Reports, Etc.	  	41
	 SECTION 5.03
	 	Litigation and Other Notices	  	43
	 SECTION 5.04
	 	Maintaining Records	  	43
	 SECTION 5.05
	 	Use of Proceeds	  	43
	  
 ARTICLE VI

 
 NEGATIVE COVENANTS

 

	 SECTION 6.01
	 	Liens; Restrictions on Sales of Receivables	  	44
	 SECTION 6.02
	 	Ownership of the Principal Subsidiaries	  	45
	 SECTION 6.03
	 	Asset Sales	  	45
	 SECTION 6.04
	 	Mergers	  	45
	 SECTION 6.05
	 	Restrictions on Dividends	  	45
	 SECTION 6.06
	 	Transactions with Affiliates	  	46
	 SECTION 6.07
	 	Financial Ratio	  	46
	 SECTION 6.08
	 	Subsidiary Indebtedness	  	46
	  
 ARTICLE VII

 
 EVENTS OF DEFAULT

 

	 SECTION 7.01
	 	Events of Default	  	46
	  
 ARTICLE VIII

 
 AGENCY

 

	 SECTION 8.01
	 	Administrative Agent	  	49
	 SECTION 8.02
	 	Bookrunners, Etc.	  	52
	  
 ARTICLE IX

 
 MISCELLANEOUS

 

	 SECTION 9.01
	 	Notices	  	52

  

 -ii- 

					
	 	 	 	  	Page
			
	 SECTION 9.02
	 	Waivers; Amendments	  	53
	 SECTION 9.03
	 	Expenses; Indemnity; Damage Waiver	  	54
	 SECTION 9.04
	 	Successors and Assigns	  	55
	 SECTION 9.05
	 	Survival	  	58
	 SECTION 9.06
	 	Counterparts; Integration; Effectiveness; Electronic Execution	  	58
	 SECTION 9.07
	 	Severability	  	59
	 SECTION 9.08
	 	Right of Setoff	  	59
	 SECTION 9.09
	 	Governing Law; Jurisdiction; Etc	  	59
	 SECTION 9.10
	 	WAIVER OF JURY TRIAL	  	60
	 SECTION 9.11
	 	Headings	  	60
	 SECTION 9.12
	 	Treatment of Certain Information; Confidentiality	  	60
	 SECTION 9.13
	 	USA PATRIOT Act	  	61

 SCHEDULE 1 - Commitments 

SCHEDULE 2 - Subsidiary Indebtedness 
 EXHIBIT A
- Form of Assignment and Assumption 
 EXHIBIT B - Form of Opinion of General Counsel to the Borrower 

EXHIBIT C - Form of Opinion of Special New York Counsel to the Borrower 

EXHIBIT F-1 - Form of Non-Bank Tax Certificate (For Foreign Lenders That Are Not Partnerships) 

EXHIBIT F-2 - Form of Non-Bank Tax Certificate (For Foreign Lenders That Are Partnerships) 

EXHIBIT F-3 - Form of Non-Bank Tax Certificate (For Foreign Participants That Are Not Partnerships) 

EXHIBIT F-4 - Form of Non-Bank Tax Certificate (For Foreign Participants That Are Partnerships) 

 

 -iii- 

 CREDIT AGREEMENT dated as of March 23, 2010, between FRONTIER COMMUNICATIONS
CORPORATION, the LENDERS party hereto, and JPMORGAN CHASE BANK, N. A., as Administrative Agent. 
 WHEREAS, on May 13,
2009, the Borrower (as hereinafter defined), Verizon Communications Inc., a Delaware corporation, and New Communications Holdings Inc., a Delaware Corporation (“Spinco”), entered into that certain Agreement and Plan of Merger, as
amended by Amendment No. 1 dated as of July 24, 2009 (the “Merger Agreement”), pursuant to which Spinco will merge (the “Merger”) with and into the Borrower; 

WHEREAS, in connection with the Merger, the Borrower has requested that the Lenders (as so defined) extend credit to it in an aggregate
principal or face amount not exceeding $750,000,000 (as such amount may be decreased or increased pursuant to the terms of this Agreement) at any one time outstanding; 

NOW, THEREFORE, the Lenders are prepared to extend such credit upon the terms and conditions hereof, and, accordingly, the parties hereto
agree as follows: 
 ARTICLE I  

DEFINITIONS 

SECTION 1.01 Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “Additional
Lender” has the meaning assigned to such term in Section 2.07(e). 
 “Adjusted LIBO Rate” means,
for the Interest Period for any Eurodollar Borrowing, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate for
such Interest Period. 
 “Administrative Agent” means JPMorgan Chase Bank, N. A., in its capacity as
administrative agent for the Lenders hereunder and its successors in such capacity. 
 “Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Alternate Base
Rate” means, for any day, a rate per annum equal to the greater of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate for such day plus 1/2 of 1% and (c) the Adjusted LIBO Rate for a one month
Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%, provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the rate appearing on the
Reuters Screen LIBOR01 Page (or on any successor or substitute page) at approximately 11:00 a.m. London time on such day 

 
(without any rounding). Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective from and including
the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 

“Applicable Percentage” means, with respect to any Lender, the percentage of the total Commitments represented by such
Lender’s Commitment; provided that in the case of Section 2.17 when a Defaulting Lender shall exist, any such Defaulting Lender’s Commitment shall be disregarded in the calculation. If the Commitments have terminated or
expired, the Applicable Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any assignments. 

“Applicable Rate” means, for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the commitment
fees payable hereunder, as the case may be, the applicable rate per annum set forth below, based upon the Debt Rating of the Borrower as set forth below: 
  

												
	 Pricing
Level
	  	 Debt Rating of the Borrower

(Moody’s/S&P)
	  	Applicable
Rate for 
ABR
Loans	 	 	Applicable
Rate for
Eurodollar
Loans
	 	 	Applicable Rate
for
Commitment
Fee	 
	1	  	3 Baa3 / BBB-	  	1.75	% 	 	2.75	% 	 	0.375	% 
	2	  	Ba1 / BB+	  	2.00	% 	 	3.00	% 	 	0.500	% 
	3	  	Ba2 / BB	  	2.25	% 	 	3.25	% 	 	0.625	% 
	4	  	£ Ba3 / BB-	  	2.75	% 	 	3.75	% 	 	0.750	% 

 Initially, the Applicable Rate
shall be determined based upon Pricing Level 3. Thereafter, each change in the Applicable Rate resulting from a publicly announced change in the Debt Rating shall be effective, in the case of an upgrade, during the period commencing on the date of
the public announcement thereof and ending on the date immediately preceding the effective date of the next such change and, in the case of a downgrade, during the period commencing on the date of the public announcement thereof and ending on the
date immediately preceding the effective date of the next such change. 
 “Asset Exchange” means the exchange
or other transfer of telecommunications assets between or among the Borrower and another Person or other Persons in connection with which the Borrower would transfer telecommunications assets and/or other property in consideration of the receipt of
telecommunications assets and/or other property having a fair market value substantially equivalent to those transferred by the Borrower (as determined in good faith by the Borrower’s Board of Directors); provided that the principal
value of the assets being transferred to the Borrower shall be represented by telecommunications assets. 
 “Assignment
and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in substantially the form
of Exhibit A or any other form approved by the Administrative Agent. 
 “Availability Period” means the
period from and including the Effective Date to but excluding the earlier of the Commitment Termination Date and the date of termination of the Commitments. 

“Bankruptcy Event” means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, administrator, custodian, 
  

 -2- 

 
assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business, appointed for it, or, in the good faith determination of the Administrative
Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the
acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided that such ownership interest does not result in or provide such Lender or its direct or indirect parent company with
immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality), to reject, repudiate, disavow or
disaffirm any contracts or agreements made by such Person. 
 “Board” means the Board of Governors of the
Federal Reserve System of the United States of America. 
 “Borrower” means Frontier Communications
Corporation, a Delaware corporation. 
 “Borrowing” means (a) all ABR Loans made or converted on the same
date or (b) Eurodollar Loans of the same Type that have the same Interest Period. 
 “Borrowing Approvals”
has the meaning assigned to such term in Section 3.01(b). 
 “Borrowing Request” means a request by the
Borrower for a Borrowing in accordance with Section 2.03. 
 “Business Day” means any day (a) that is
not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed and (b) if such day relates to a borrowing, a continuation or conversion of or into, or the Interest Period for, a
Eurodollar Borrowing, or to a notice by the Borrower with respect to any such borrowing, payment, prepayment, continuation, conversion, or Interest Period, that is also a day on which dealings in Dollar deposits are carried out in the London
interbank market. 
 “Capital Lease Obligations” of any Person means the obligations of such Person to pay rent
or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such
Person under GAAP and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP. 

A “Change in Control” shall be deemed to have occurred if (a) any Person or group (within the meaning of Rule 13d-5
of the Securities and Exchange Commission as in effect on the date hereof) shall own directly or indirectly, beneficially or of record, shares representing 50% or more of the aggregate ordinary voting power represented by the issued and outstanding
capital stock of the Borrower; or (b) a majority of the seats (other than vacant seats) on the board of directors of the Borrower shall at any time have been occupied by Persons who were neither (i) nominated by the management of the
Borrower, nor (ii) appointed by directors so nominated; or (c) any Person or group (within the meaning of Rule 13d-5 of the Securities and Exchange Commission as in effect on the date hereof) shall otherwise directly or indirectly Control
the Borrower. 
 “Change in Law” means the occurrence, after the date of this Agreement, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or
(c) the making or issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority. 
  

 -3- 

 “Code” means the Internal Revenue Code of 1986, as amended. 

“Commitment” means, with respect to each Lender, the commitment, if any, of such Lender to make Loans and to acquire
participations in Letters of Credit hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced or increased from time to time
pursuant to Section 2.07 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Commitment is set forth on Schedule 1 or in
the Assignment and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. The initial aggregate amount of the Lenders’ Commitments is $750,000,000. 

“Commitment Termination Date” means the date that is three years and six calendar months after the Effective Date (or,
if there is no numerically corresponding date to the Effective Date in the month that in the sixth month after the three year anniversary of the Effective Date, the last day of such calendar month); provided that if such date is not a
Business Day then the “Commitment Termination Date” shall be the immediately preceding Business Day. 

“Companies” has the meaning assigned to such term in Section 5.02(a). 

“Consolidated EBITDA” means, with respect to the Borrower and its Subsidiaries for any period, the sum of
(i) operating income for such period (excluding integration and restructuring costs) plus (ii) to the extent resulting in reductions in such operating income for such period, (a) depreciation and amortization expense for such
period, (b) the amount of non-cash charges for such period and (c) fees and expenses in connection with the Merger that are incurred on or prior to the Effective Date in an amount not to exceed $75,000,000 minus (iii) to the
extent resulting in increases in such operating income for such period, the non-cash gains for such period, all determined on a consolidated basis in accordance with GAAP. For any period of calculation, “Consolidated EBITDA” shall be
adjusted to give pro forma effect to any Material Transaction, as determined reasonably and in good faith by a Financial Officer, during the period of calculation as if such Material Transaction occurred on the first day of such period of
calculation, provided that such pro forma calculations shall only include such adjustments as are permitted under Regulation S-X of the Securities and Exchange Commission. As used in this definition, “Material Transaction”
means any acquisition or disposition outside the ordinary course of business of any property or assets (including, without limitation, the Merger) that (x) constitute assets comprising all or substantially all of an operating unit of a business
or equity interests of a Person representing a majority of the ordinary voting power or economic interests in such Person that are represented by all its outstanding capital stock and (y) involves aggregate consideration in excess of
$50,000,000. 
 “Consolidated Net Worth” means, as at any date of determination, the consolidated
stockholders’ equity of the Borrower and its consolidated Subsidiaries, including redeemable preferred securities where the redemption date occurs after the Commitment Termination Date, mandatorily redeemable convertible preferred securities,
mandatorily convertible Indebtedness (or Indebtedness subject to mandatory forward purchase contracts for equity or similar securities) and minority equity interests in other persons, as determined on a consolidated basis in conformity with GAAP
consistently applied. 
 “Consolidated Tangible Assets” means, for any Person, total assets of such Person and
its consolidated Subsidiaries, determined on a consolidated basis, less goodwill, patents, trademarks and other assets classified as intangible assets in accordance with GAAP. 

 

 -4- 

 “Control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto. 
 “Debt Rating” means, as of any date of determination, the rating as determined by either
Moody’s or S&P (collectively, the “Debt Ratings”) of the Borrower’s non-credit-enhanced, senior unsecured long-term debt; provided that (a) if the respective Debt Ratings issued by the foregoing rating
agencies differ by one level, then the Pricing Level for the higher of such Debt Ratings shall apply (with the Debt Rating for Pricing Level 1 being the highest and the Debt Rating for Pricing Level 4 being the lowest); (b) if there is a split
in Debt Ratings of more than one level, then the Pricing Level that is one level higher than the Pricing Level of the lower Debt Rating shall apply; (c) if the Borrower has only one Debt Rating, the Pricing Level that is one level lower than
that of such Debt Rating shall apply; and (d) if the Borrower does not have any Debt Rating, Pricing Level 4 shall apply. 

“Debtor Relief Laws” means the Bankruptcy Code of the United States of America, and all other liquidation,
conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States of America or other applicable jurisdictions from time to
time in effect and affecting the rights of creditors generally. 
 “Default” means any event or condition
which, upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. 
 “Defaulting
Lender” means any Lender (a) that has failed to fund any portion of its Loans or participations in Letters of Credit within three Business Days of the date required to be funded by it hereunder, unless such Lender notifies the
Administrative Agent in writing that such failure is the result of Lender’s good faith determination that a condition precedent to funding (specifically identified and supported by facts) has not been satisfied, (b) that has notified the
Borrower, the Administrative Agent, the Issuing Bank or any Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect that it does not intend to comply
with its funding obligations under this Agreement, (c) that has failed, within three Business Days after written request by the Administrative Agent, to confirm that it will comply with the terms of this Agreement relating to its obligations to
fund prospective Loans and participations in then outstanding Letters of Credit, unless such failure is the result of a good faith determination that a condition precedent to funding (specifically identified and supported by facts) has not been
satisfied, (d) that has otherwise failed to pay over to the Administrative Agent or any other Lender any other amount (other than a de minimis amount) required to be paid by it hereunder within three Business Days of the date when due, unless
the subject of a good faith dispute or (e) if a Bankruptcy Event has occurred with respect to such Lender (or any holding company parent of such Lender). 

“Dollars” or “$” refers to lawful money of the United States of America. 

“Effective Date” means the date on which the conditions specified in Section 4.01 are satisfied (or waived in
accordance with Section 9.02). 
 “Environmental Laws” means all national, federal, state, provincial,
municipal or local laws, statutes, ordinances, orders, judgments, decrees, injunctions, writs, policies and guidelines (having the force of law), directives, approvals, notices, rules and regulations and other applicable laws relating to
environmental or occupational health and safety matters, including those relating to the Release or threatened Release of Specified Substances and to the generation, use, storage or transportation of Specified Substances, each as in effect as of the
date of determination. 
  

 -5- 

 “ERISA” means the Employee Retirement Income Security Act of 1974 and the
regulations promulgated and the rulings issued thereunder. 
 “ERISA Affiliate” means each trade or business
(whether or not incorporated) which together with the Borrower or a Subsidiary of the Borrower would be deemed to be a “single employer” within the meaning of Section 4001(b)(1) of ERISA. 

“ERISA Termination Event” means (i) a “Reportable Event” described in Section 4043 of ERISA (other
than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of the Borrower or any of its ERISA Affiliates from a Plan during a plan year in which it was a
“substantial employer” as defined in Section 4001(a)(2) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or
(iv) the institution of proceeding to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer,
any Plan. 
 “Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the
Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 

“Event of Default” has the meaning assigned to such term in Section 7.01. 

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender or the Issuing Bank or any other recipient
of any payment to be made by or on account of any obligation of the Borrower hereunder or under any other Loan Document, (a) Taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed on it (in
lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending
office is located, (b) any Tax in the nature of the branch profits tax under Section 884(a) of the Code that is imposed by any jurisdiction described in clause (a), (c) in the case of a Foreign Lender (other than an assignee pursuant
to a request by the Borrower under Section 2.16(b)), any U.S. federal withholding Tax that is imposed on amounts payable to such Foreign Lender pursuant to any Law in effect (including any Law that has been enacted but has a future effective
date, such as Sections 1471 through 1474 of the Code and applicable Treasury regulations thereunder or official governmental interpretation thereof) at the time such Foreign Lender becomes a party hereto (or designates a new lending office) or is
attributable to such Foreign Lender’s failure to comply with Section 2.14(e), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to
receive additional amounts from the Borrower with respect to such withholding Tax pursuant to Section 2.14(a). 

“Existing Credit Agreement” means the Credit Agreement dated as of May 18, 2007, among the Borrower, the lenders
party thereto, and Deutsche Bank AG New York Branch, as administrative agent, as in effect on the date hereof. 

“Federal Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next
1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such
rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds
brokers of recognized standing selected by it. 
  

 -6- 

 “Financial Officer” of any Person means the President, Chief Financial
Officer, Chief Executive Officer, Vice President—Finance, Executive Vice President, Chief Accounting Officer or Treasurer of such corporation. Any document delivered hereunder that is signed by a Financial Officer shall be conclusively presumed
to have been authorized by all necessary corporate action on the part of the Borrower and such Financial Officer shall be conclusively presumed to have acted on behalf of the Borrower. 

“Foreign Lender” means any Lender or Issuing Bank that is not a United States person within the meaning of
Section 7701(a)(30) of the Code. 
 “GAAP” means generally accepted accounting principles in the United
States of America. 
 “Governmental Approval” means any authorization, consent, order, approval, license,
franchise, lease, ruling, tariff, rate, permit, certificate, exemption of, or filing or registration with, any Governmental Authority. 

“Governmental Authority” means the government of the United States of America or any other nation, or of any political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Guarantee” means, as to any Person, any obligation, contingent or otherwise, of such Person guaranteeing or having the
economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct
or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in
respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of
income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or
other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the
related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The
term “Guarantee” as a verb has a corresponding meaning. 
 “Guaranty Agreement” means,
collectively, each Guarantee executed and delivered pursuant to Section 6.08. 
 “Hostile Acquisition”
means any Target Acquisition (as defined below) involving a tender offer or proxy contest that has not been recommended or approved by the board of directors (or similar governing body) of the Person that is the subject of such Target Acquisition
prior to the first public announcement or disclosure relating to such Target Acquisition. As used in this definition, the term “Target Acquisition” means any transaction, or any series of related transactions, by which the Borrower
and/or any of its Subsidiaries is to directly or indirectly (i) acquire any ongoing business or all or substantially all of the assets of any Person or division thereof, whether through purchase of assets, merger or otherwise, (ii) acquire
(in one transaction or as the most recent transaction in a series of 
  

 -7- 

 
transactions) control of at least a majority in ordinary voting power of the securities of a Person which have ordinary voting power for the election of directors or (iii) otherwise acquire
control of a more than 50% ownership interest in any such Person. 
 “Increased Commitment Date” has the
meaning assigned to such term in Section 2.07(e). 
 “Indebtedness” of any Person means, without
duplication, (a) all obligations of such Person for borrowed money or with respect to deposits or advances of any kind (other than customer deposits made in the ordinary course of business), (b) all obligations of such Person evidenced by
bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are customarily paid, (d) all obligations of such Person under conditional sale or other title retention agreements relating to
property or assets purchased by such Person, (e) all obligations of such Person issued or assumed as the deferred purchase price of property or services, (f) all Indebtedness of others secured by (or for which the holder of such
Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the obligations secured thereby have been assumed, (g) all Capital Lease Obligations of such
Person, (h) all obligations of such Person in respect of Swap Contracts (except to the extent such obligations are used as a bona fide hedge of other Indebtedness of such Person), (i) all obligations of such Person as an account party in
respect of letters of credit and bankers’ acceptances (except to the extent any such obligations are incurred in support of other obligations constituting Indebtedness of such Person and other than, to the extent reimbursed if drawn, letters of
credit in support of ordinary course performance obligations), and (j) all Guarantees of such Person in respect of any of the foregoing; provided that the term Indebtedness shall not include endorsements for collection or deposit, in
either case in the ordinary course of business. 
 “Indemnified Taxes” means Taxes other than Excluded Taxes.

 “Indemnitee” has the meaning assigned to such term in Section 9.03(b). 

“Information” has the meaning assigned to such term in Section 9.12. 

“Interest Election Request” means a request by the Borrower to convert or continue a Borrowing in accordance with
Section 2.06. 
 “Interest Payment Date” means (a) with respect to any ABR Loan, each Quarterly Date,
and (b) with respect to any Eurodollar Loan, the last day of each Interest Period therefor and, in the case of any Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at
three-month intervals after the first day of such Interest Period. 
 “Interest Period” means, for any
Eurodollar Loan or Borrowing, the period commencing on the date of such Loan or Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, with the consent of each Lender, nine or
twelve months) thereafter, as specified in the applicable Borrowing Request or Interest Election Request; provided that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to
the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, and (ii) any Interest Period that commences on the
last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For
purposes hereof, the date of a Loan initially shall be the date on which such Loan is made and thereafter shall be the effective date of the most recent conversion or continuation of such Loan. 

 

 -8- 

 “Issuing Bank” means JPMorgan Chase Bank, N. A., in its capacity as an
issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.04(j). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in
which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. 

“Joint Lead Arrangers” means the entities identified as such on the cover of this Agreement. 

“Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines,
regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and
all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any governmental authority, in each case whether or not having the force of law. 

“LC Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of Credit. 

“LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit
at such time plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Lender at any time shall be its Applicable Percentage of the total LC
Exposure at such time. 
 “Lenders” means the Persons listed on Schedule 1, any other Person that shall have
become a party hereto pursuant to an Assignment and Assumption and any “Additional Lender” pursuant to Section 2.07(e), other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

 “Letter of Credit” means any letter of credit issued pursuant to this Agreement. 

“Letter of Credit Documents” means, with respect to any Letter of Credit, collectively, any application therefor and any
other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect
to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time. 

“Leverage Ratio” means, as of the last day of any fiscal quarter, the ratio of (a) Total Indebtedness as of such
day to (b) Consolidated EBITDA for the four consecutive fiscal quarters ending on such day. 
 “LIBO Rate”
means, for the Interest Period for any Eurodollar Borrowing, the rate appearing on Reuters Page LIBOR01 (or on any successor or substitute page or service providing rate quotations comparable to those currently provided on such page, as determined
by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to Dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business Days prior to the commencement
of such Interest Period, as the rate for Dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the LIBO Rate for such Interest Period shall be the rate at
which Dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00
a.m., London time, two Business Days prior to the commencement of such Interest Period. 
  

 -9- 

 “Lien” means, with respect to any asset, (a) any mortgage, deed of
trust, lien, pledge, encumbrance, charge, or security interest in or on such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease, or title retention agreement relating to such asset and
(c) in the case of securities, any purchase option, call, or similar right of a third party with respect to such securities. 

“Loan Documents” means, collectively, this Agreement, the Letter of Credit Documents, any Guaranty Agreement and each
note issued pursuant to Section 2.08(f). 
 “Loans” means the loans made by the Lenders to the Borrower
pursuant to this Agreement. 
 “Margin Regulations” means Regulations T, U and X of the Board. 

“Material Adverse Effect” means a material adverse effect on the business, assets, operations, financial condition or
results of operations of the Borrower and the Subsidiaries taken as a whole. 
 “Material Transaction” has the
meaning assigned to such term in the definition of Consolidated EBITDA. 
 “Maximum Priority Amount” shall
mean, at any time, the sum of (a) 10% of the value of the consolidated total assets of the Borrower and (b) 20% of the sum of the total consolidated current as-sets and net property, plant and equipment of the Borrower, in each case, as
shown on, or computed from, the most recent quarterly or annual consolidated balance sheet of the Borrower delivered by the Borrower pursuant to Section 4.01(k), 5.02(a) or 5.02(b). 

“Merger” has the meaning assigned to such term in the first recital hereto. 

“Merger Agreement” has the meaning assigned to such term in the first recital hereto. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, the Borrower arising
under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including
interest and fees that accrue after the commencement by or against the Borrower or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees
are allowed claims in such proceeding. 
 “Other Taxes” means any and all present or future stamp or
documentary taxes or any other excise or property taxes, charges or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this
Agreement or any other Loan Document. 
 “Participant” means any Person to whom a participation is sold as
permitted by clause (d) of Section 9.04. 
  

 -10- 

 “PBGC” means the Pension Benefit Guaranty Corporation referred to and
defined in ERISA. 
 “Person” means any natural person, corporation, limited liability company, trust, joint
venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any pension
plan (including a multiemployer plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code which is maintained for or to which contributions are made for employees of the Borrower or any ERISA Affiliate. 

“Prime Rate” means the per annum rate of interest established from time to time by the Administrative Agent, at its
principal office in New York, New York as its prime lending rate. Any change in the interest rate resulting from a change in the Prime Rate shall become effective as of 12:01 a.m. of the Business Day on which each change in the Prime Rate is
announced by the Administrative Agent. The prime lending rate is a reference rate used by the Administrative Agent in determining interest rates on certain loans and is not intended to be the lowest rate of interest charged on any extension of
credit to any debtor. The Administrative Agent may make commercial loans or other loans at rates of interest at, above, or below its prime lending rate. 

“Principal Subsidiary” means any Subsidiary of the Borrower whose Consolidated Tangible Assets comprise in excess of 10%
of the Consolidated Tangible Assets of the Borrower and its consolidated Subsidiaries as of the date hereof or at any time hereafter. 

“Quarterly Dates” means the last Business Day of March, June, September and December in each year, the first of which
shall be the first such day after the date hereof. 
 “Register” has the meaning set forth in
Section 9.04. 
 “Related Parties” means, with respect to any Person, such Person’s Affiliates and
the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. 

“Release” means any spilling, emitting, discharging, depositing, escaping, leaching, dumping or other releasing,
including the movement of any Specified Substance through the air, soil, surface water, groundwater or property, and when used as a verb has a like meaning. 

“Required Lenders” means, at any time, Lenders having Revolving Credit Exposures representing more than 50% of the
aggregate Revolving Credit Exposures at such time or, at any time when there are no Revolving Credit Exposures outstanding, Lenders having Commitments representing more than 50% of the sum of the total Commitments at such time ; provided that
the Revolving Credit Exposures and Commitments of any Defaulting Lender shall be disregarded for all purposes of this definition for so long as such Lender is a Defaulting Lender. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with
respect to any capital stock or other equity interest of the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, acquisition, cancellation or termination of any such capital stock or other equity interest, or on account of any return of capital to the Borrower’s stockholders, partners or members (or the equivalent Person thereof). 

 

 -11- 

 “Revolving Credit Exposure” means, with respect to any Lender at any time,
the sum of the outstanding principal amount of such Lender’s Loans and its LC Exposure at such time. 

“S&P” means Standard & Poor’s Ratings Group, Inc. 

“Securitization Transaction” means (a) any transfer of accounts receivable or interests therein (i) to a
trust, partnership, corporation or other entity (other than a Subsidiary), which transfer or pledge is funded by such entity in whole or in part by the issuance to one or more lenders or investors of indebtedness or other securities that are to
receive payments principally from the cash flow derived from such accounts receivable or interests in accounts receivable, or (ii) directly to one or more investors or other purchasers (other than any Subsidiary), or (b) any transaction in
which the Borrower or a Subsidiary incurs Indebtedness secured principally by Liens on accounts receivable. The “amount” of any Securitization Transaction shall be deemed at any time to be (A) in the case of a transaction described in
clause (a) of the preceding sentence, the aggregate uncollected amount of the accounts receivable transferred pursuant to such Securitization Transaction, net of any such accounts receivable that have been written off as uncollectible, and
(B) in the case of a transaction described in clause (b) of the preceding sentence, the aggregate outstanding principal amount of the Indebtedness secured by Liens on accounts receivable incurred pursuant to such Securitization
Transaction. 
 “Specified Substance” means (i) any chemical, material or substance defined as or included
in the definition of “hazardous substances”, “hazardous wastes”, “hazardous materials”, “extremely hazardous waste”, “restricted hazardous waste” or “toxic substances” or words of similar
import under any applicable Environmental Laws; (ii) any (A) oil, natural gas, petroleum or petroleum derived substance, any drilling fluids, produced waters and other wastes associated with the exploration, development or production of
crude oil, natural gas or geothermal fluid, any flammable substances or explosives, any radioactive materials, any hazardous wastes or substances, any toxic wastes or substances or (B) other materials or pollutants that, in the case of both
(A) and (B), (1) pose a hazard to the property of the Borrower or any of its Subsidiaries or any part thereof or to persons on or about such property or to any other property that may be affected by the Release of such materials or
pollutants from such property or any part thereof or to persons on or about such other property or (2) cause such property or such other property to be in violation of any Environmental Law; (iii) asbestos, urea formaldehyde foam
insulation, toluene, polychlorinated biphenyls and any electrical equipment which contains any oil or dielectric fluid containing levels of polychlorinated biphenyls in excess of fifty parts per million; and (iv) any sound, vibration, heat,
radiation or other form of energy and any other chemical, material or substance, exposure to which is prohibited, limited or regulated by any Governmental Authority. 

“Spinco” has the meaning assigned to such term in the first recital hereto. 

“Statutory Reserve Rate” means, for the Interest Period for any Eurodollar Borrowing, a fraction (expressed as a
decimal), the numerator of which is the number one and the denominator of which is the number one minus the arithmetic mean, taken over each day in such Interest Period, of the aggregate of the maximum reserve percentages (including any
marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board to which the Administrative Agent is subject for eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation
D of the Board). Such reserve percentages shall include those imposed pursuant to Regulation D of the Board. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or
credit for proration, exemptions or offsets that may be available from time to time to any Lender under Regulation D of the Board or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective
date of any change in any reserve percentage. 
  

 -12- 

 “Subsidiary” means, with respect to any Person (herein referred to as the
“parent”), any corporation, partnership, association, or other business entity (a) of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or more
than 50% of the general partnership interests are, at the time any determination is being made, owned, controlled, or held by the parent, or (b) which is, at the time any determination is made, otherwise Controlled by the parent or one or more
subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. Unless otherwise indicated, all references in this Agreement to “Subsidiaries” shall be construed as references to Subsidiaries of the Borrower.

 “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative
transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward
bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or
any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all
transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign
Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of
any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s),
and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by
any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 
 “Syndication
Agent” means the entity identified as such on the cover of this Agreement. 
 “Taxes” means all
present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Total Indebtedness” means, as of any date, the aggregate principal amount of Indebtedness of the Borrower and its
consolidated Subsidiaries outstanding as of such date, in the amount and only to the extent that such Indebtedness would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP minus the amount
of the cash and cash equivalents of the Borrower and its consolidated Subsidiaries in excess of $50,000,000 that would be reflected on such balance sheet. 

“Transactions” means the execution, delivery and performance by the Borrower of this Agreement and the other Loan
Documents, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder. 
  

 -13- 

 “Type”, when used in reference to any Loan or Borrowing, refers to whether
the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate. 

SECTION 1.02 Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase
“without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a) 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), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) 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, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and
Sections of, and Exhibits and Schedules to, this Agreement, (e) any reference to any law or regulation herein shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time and
(f) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.

 SECTION 1.03 Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or
financial nature shall be construed in accordance with GAAP as in effect from time to time; provided that, if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the
effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision
hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before
such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. To enable the ready and consistent determination of compliance with the covenants set forth in Article VI, the
Borrower will not change the last day of its fiscal year from December 31, or the last days of the first three fiscal quarters in each of its fiscal years from March 31, June 30 and September 30, respectively. 

ARTICLE II 

THE CREDITS 

SECTION 2.01 The Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make Loans to the
Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (a) such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment or (b) the total Revolving Credit
Exposures exceeding the total Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Loans. 

 

 -14- 

 SECTION 2.02 Loans and Borrowings. 

(a) Obligations of Lenders. Each Loan shall be made as part of a Borrowing consisting of Loans made by the Lenders ratably in
accordance with their respective Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and
no Lender shall be responsible for any other Lender’s failure to make Loans as required. The amounts payable at any time hereunder shall be a separate and independent debt of the Borrower to each Lender and each Lender shall be entitled to
protect and enforce its rights under this Agreement and the other Loan Documents, and it shall not be necessary for any other Lender to be joined as an additional party in any proceedings for such purpose. 

(b) Type of Loans. Subject to Section 2.11, each Borrowing shall be comprised entirely of ABR Loans or of Eurodollar Loans as
the Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall
not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 
 (c) Minimum
Amounts; Limitation on Number of Borrowings. Each Borrowing shall be in an aggregate amount of $10,000,000 or a larger multiple of $1,000,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused
balance of the total Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.04(f). Borrowings of more than one Type may be outstanding at the same time; provided that there shall
not at any time be more than a total of ten Eurodollar Borrowings outstanding. 
 (d) Limitations on Interest Periods.
Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request (or to elect to convert to or continue as a Eurodollar Borrowing) any Borrowing if the Interest Period requested therefor would end after the
Commitment Termination Date. 
 SECTION 2.03 Requests for Borrowings. 

(a) Notice by the Borrower. To request a Borrowing, the Borrower shall notify the Administrative Agent of such request (i) in
the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing, or (ii) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time, on the
date of the proposed Borrowing. Each such Borrowing Request shall be irrevocable. 
 (b) Content of Borrowing Requests.
Each Borrowing Request shall specify the following information in compliance with Section 2.02: 
 (i) the
aggregate amount of the requested Borrowing; 
 (ii) the date of such Borrowing, which shall be a Business Day;

 (iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; 

(iv) in the case of a Eurodollar Borrowing, the Interest Period therefor, which shall be a period contemplated by the
definition of the term “Interest Period” and permitted under Section 2.02(d); and 
 (v) the
location and number of the Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.05. 
  

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 (c) Notice by the Administrative Agent to the Lenders. Promptly following receipt of
a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. 

(d) Failure to Elect. If no election as to the Type of a Borrowing is specified, then the requested Borrowing shall be an ABR
Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 

SECTION 2.04 Letters of Credit. 

(a) General. Subject to the terms and conditions set forth herein, in addition to the Loans provided for in Section 2.01, the
Borrower may request the Issuing Bank to issue, at any time and from time to time during the Availability Period, Letters of Credit for its own account in such form as is acceptable to the Administrative Agent and the Issuing Bank in its reasonable
determination. Letters of Credit issued hereunder shall constitute utilization of the Commitments. 
 (b) Notice of Issuance,
Amendment, Renewal or Extension. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if
arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a
Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire
(which shall comply with paragraph (d) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of
Credit. If requested by the Issuing Bank, the Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. In the event of any inconsistency between the
terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit,
the terms and conditions of this Agreement shall control. 
 (c) Limitations on Amounts. A Letter of Credit shall be
issued, amended, renewed or extended only if (A) (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal
or extension (i) the aggregate LC Exposure shall not exceed $50,000,000 and (ii) the total Revolving Credit Exposures shall not exceed the total Commitments, and (B) the Issuing Bank shall not have received written notice from
the Administrative Agent (at the request of the Required Lenders) at least one Business Day prior to the requested date of issuance, amendment, renewal or extension that one or more of the conditions contained in Section 4.02 shall not be
satisfied with respect thereto. 
 (d) Expiration Date. Each Letter of Credit shall expire at or prior to the close of
business on the earlier of (i) the date twelve months after the date of the issuance of such Letter of Credit and (ii) the date that is five Business Days prior to the Commitment Termination Date; provided, that a Letter of Credit
may provide for the automatic renewal thereof for additional one-year periods (but shall in no event extend beyond the date referred to in clause (ii) above). 

 

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 (e) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) by the Issuing Bank, and without any further action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each Lender hereby acquires from the Issuing Bank,
a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. Each Lender acknowledges and agrees that its obligation to acquire participations
and fund ABR Loans pursuant to this sentence of this clause (e) and the next sentence hereof in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment,
renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Commitments. 

In consideration and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to the
Administrative Agent, for the account of the Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by the Issuing Bank promptly upon the request of the Issuing Bank at any time from the time of such LC Disbursement
until such LC Disbursement is reimbursed by the Borrower or at any time after any reimbursement payment is required to be refunded to the Borrower for any reason. Each such payment shall be deemed to be an ABR Loan by such Lender and shall be made
without any offset, abatement, withholding or reduction whatsoever. Each such payment shall be made in the same manner as provided in Section 2.05 with respect to Loans made by such Lender (and Section 2.05 shall apply, mutatis
mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from
the Borrower pursuant to the next following paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that the Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to
such Lenders and the Issuing Bank as their interests may appear. 
 (f) Reimbursement. If the Issuing Bank shall make any
LC Disbursement in respect of a Letter of Credit, the Borrower shall reimburse the Issuing Bank in respect of such LC Disbursement by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 3:00 p.m., New York
City time, on (i) the Business Day that the Borrower receives notice of such LC Disbursement, if such notice is received prior to 10:00 a.m., New York City time, or (ii) the Business Day immediately following the day that the Borrower
receives such notice, if such notice is not received prior to such time. If the Borrower fails to make such payment when due, the Administrative Agent shall notify each Lender of the applicable LC Disbursement, the payment then due from the Borrower
in respect thereof and such Lender’s Applicable Percentage thereof. The Borrower’s obligations under this clause (f) shall be satisfied to the extent of the making of ABR Loans under clause (e) above. 

(g) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in paragraph (f) of this
Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability
of any Letter of Credit, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any
respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply strictly with the terms of such Letter of Credit, or (iv) any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder.

  

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 Neither the Administrative Agent, the Lenders nor the Issuing Bank, nor any of their Related
Parties, shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit by the Issuing Bank or any payment or failure to make any payment thereunder (irrespective of any of the
circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document
required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be construed to excuse the Issuing
Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are
caused by the Issuing Bank’s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross
negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such determination, and that: 

(i) the Issuing Bank may accept documents that appear on their face to be in substantial compliance with the terms of a
Letter of Credit without responsibility for further investigation, regardless of any notice or information to the contrary, and may make payment upon presentation of documents that appear on their face to be in substantial compliance with the terms
of such Letter of Credit; 
 (ii) the Issuing Bank shall have the right, in its sole discretion, to decline to
accept such documents and to make such payment if such documents are not in strict compliance with the terms of such Letter of Credit; and 

(iii) this sentence shall establish the standard of care to be exercised by the Issuing Bank when determining whether
drafts and other documents presented under a Letter of Credit comply with the terms thereof (and the parties hereto hereby waive, to the extent permitted by applicable law, any standard of care inconsistent with the foregoing). 

(h) Disbursement Procedures. The Issuing Bank shall, within a reasonable time following its receipt thereof, examine all documents
purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly after such examination notify the Administrative Agent and the Borrower of such demand for payment and whether the Issuing Bank has made or will
make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC Disbursement.

 (i) Interim Interest. If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse
such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such
LC Disbursement, at the rate per annum then applicable to ABR Loans; provided that, if the Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (f) of this Section, then Section 2.10(c) shall apply.
Interest accrued pursuant to this paragraph shall be for account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (f) of this Section to reimburse the Issuing Bank shall be
for account of such Lender to the extent of such payment. 
  

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 (j) Replacement of the Issuing Bank. The Issuing Bank may be replaced at any time by
written agreement between the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement of the Issuing Bank. At the time any such
replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.09(b). From and after the effective date of any such replacement, (i) the successor
Issuing Bank shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer
to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall
continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. 

(k) Cash Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that the Borrower receives
notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposure representing more than 50% of the total LC Exposure) demanding the deposit of cash collateral pursuant to
this paragraph, the Borrower shall immediately deposit into an account established and maintained on the books and records of the Administrative Agent, which account may be a “securities account” (within the meaning of Section 8-501
of the Uniform Commercial Code as in effect in the State of New York), in the name of the Administrative Agent and for the benefit of the Lenders, an amount in cash equal to the LC Exposure as of such date plus any accrued and unpaid interest
thereon; provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event
of Default with respect to the Borrower described in clause (h) or (i) of Section 7.01. Such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Borrower under this
Agreement. 
 The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal,
over such account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not
bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been
reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of
Lenders with LC Exposure representing 100% of the total LC Exposure), be applied to satisfy other obligations of the Borrower under this Agreement. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the
occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three Business Days after all Events of Default have been cured or waived. 

SECTION 2.05 Funding of Borrowings. 

(a) Funding by Lenders. Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer
of immediately available funds by (i) 12:00 noon, New York City time, in the case of a Eurodollar Borrowing, and (ii) 3:00 p.m., New York City time, in the case of an ABR Borrowing, in each case to the account of the Administrative Agent
most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such 
  

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Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower agreed between the Borrower and the Administrative Agent;
provided that ABR Borrowings made to finance the reimbursement of an LC Disbursement as provided in Section 2.04(f) shall be remitted by the Administrative Agent to the Issuing Bank. 

(b) Presumption by the Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to
(i) the proposed date of any Eurodollar Borrowing or (ii) in the case of any proposed ABR Borrowing, 3:00 p.m., New York City time, on the proposed date of such ABR Borrowing, that such Lender will not make available to the Administrative
Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make
available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at
(i) in the case of a payment to be made by such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation and (ii) in the
case of a payment to be made by the Borrower, the interest rate applicable to ABR Loans. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall
promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan
included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

SECTION 2.06 Interest Elections. 

(a) Elections by the Borrower. The Loans comprising each Borrowing initially shall be of the Type specified in the applicable
Borrowing Request and, in the case of a Eurodollar Borrowing, shall have the Interest Period specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a Borrowing of a different Type or to continue such
Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect the Interest Period therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the
affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. 

(b) Notice of Elections. To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such
election by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such Interest
Election Request shall be irrevocable. 
 (c) Content of Interest Election Requests. Each Interest Election Request shall
specify the following information in compliance with Section 2.02: 
 (i) the Borrowing to which such
Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to
clauses (iii) and (iv) below shall be specified for each resulting Borrowing); 
  

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 (ii) the effective date of the election made pursuant to such Interest
Election Request, which shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR
Borrowing or a Eurodollar Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar Borrowing, the
Interest Period therefor after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period” and permitted under Section 2.02(d). 

(d) Notice by the Administrative Agent to the Lenders. Promptly following receipt of an Interest Election Request, the
Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

(e) Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with
respect to a Eurodollar Borrowing prior to the end of the Interest Period therefor, then, unless such Eurodollar Borrowing is repaid as provided herein, the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

 Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative
Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing and (ii) unless repaid,
each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period therefor. 
 SECTION 2.07
Termination, Reduction and Increase of the Commitments. 
 (a) Scheduled Termination. Unless previously
terminated, the Commitments shall terminate on the Commitment Termination Date. 
 (b) Voluntary Termination or
Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each partial reduction of the Commitments shall be in an amount that is $10,000,000 or a larger multiple of $1,000,000
and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.08, the total Revolving Credit Exposures would exceed the total Commitments.

 (c) Notice of Voluntary Termination or Reduction. The Borrower shall notify the Administrative Agent of any election
to terminate or reduce the Commitments under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following
receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the
Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or other incurrence of Indebtedness, in which case such notice may be revoked by the Borrower (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. 
  

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 (d) Effect of Termination or Reduction. Any termination or reduction of the
Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments. 

(e) Increase of Commitments. The Borrower shall have the right at any time to increase the aggregate Commitments hereunder to the
extent that the sum of the aggregate Commitments hereunder (after giving effect to such increase) do not exceed $850,000,000 by adding to this Agreement one or more other lenders, which may include any Lender (each such lender an “Additional
Lender”) with the approval of the Administrative Agent (not to be unreasonably withheld), each of which Additional Lenders shall have entered into an agreement in form and substance satisfactory to the Borrower and the Administrative Agent
pursuant to which such Additional Lender shall undertake a Commitment (if any such Additional Lender is a Lender, its Commitment shall be in addition to such Lender’s Commitment hereunder) which such Commitment shall be in an amount at least
equal to $10,000,000 or a larger multiple of $1,000,000, and upon the effectiveness of such agreement (the date of the effectiveness of any such agreement being hereinafter referred to as the “Increased Commitment Date”) such
Additional Lender shall thereupon become a “Lender” for all purposes of this Agreement. 
 Notwithstanding the
foregoing, the increase in the aggregate Commitments hereunder pursuant to this Section 2.07(e) shall not be effective unless: 

(i) the Borrower shall have given the Administrative Agent notice of any such increase at least 10 days prior to any such
Increased Commitment Date; 
 (ii) no Default shall have occurred and be continuing on the Increased Commitment
Date (both immediately prior to and after giving effect to the increase in Commitments on the Increased Commitment Date); 

(iii) no existing Lender shall be under any obligation to increase its Commitment and any such decision whether to
increase its Commitment shall be in such Lender’s sole and absolute discretion; 
 (iv) if any Loan or
Letter of Credit shall be outstanding, the Borrower shall have borrowed Loans from each of the Additional Lenders on the Increased Commitment Date, and the Additional Lenders shall have made Loans to the Borrower (in the case of Eurodollar Loans,
with Interest Period(s) ending on the date(s) of any then outstanding Interest Period(s)) and shall be deemed to have acquired participations in any outstanding Letters of Credit, and (notwithstanding the provisions of Section 2.15 requiring
that borrowings and prepayments be made ratably in accordance with the principal amounts of the Loans held by the Lenders) the Borrower in coordination with the Administrative Agent shall have taken such actions, including, if necessary, prepaying
Loans held by the other Lenders (together with accrued interest thereon and any amounts owing pursuant to Section 2.13 as a result of such payment) in such amounts as may be necessary so that after giving effect to such Loans, purchases and
prepayments the Loans (and Interest Period(s) of Eurodollar Loan(s)) and the LC Exposure shall be held by the Lenders pro rata in accordance with the respective amounts of their Commitments (as so increased) and, in that connection, the Issuing Bank
shall be deemed to have released any Lenders so deemed to have sold participations in outstanding Letters of Credit on the date of such replacement from such sold participation; and 

(v) there shall have been no reduction of the Commitments pursuant to Section 2.07(b) on or prior to any such
Increased Commitment Date. 
  

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 Promptly following any increase of Commitments pursuant to this Section 2.07(e), the Administrative
Agent shall provide notice thereof to each of the Lenders. Without limiting the Obligations of the Borrower provided for in this Section 2.07, the Administrative Agent and the Lenders agree that they will use commercially reasonable efforts to
attempt to minimize the costs of the type referred to in Section 2.13 that the Borrower would otherwise incur in connection with an increase of the Commitments. 

SECTION 2.08 Repayment and Prepayment of Loans; Evidence of Debt. 

(a) Repayment and Prepayment. The Borrower hereby unconditionally promises to pay to the Administrative Agent for account of the
Lenders the outstanding principal amount of the Loans on the Commitment Termination Date. The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to the requirements of this Section.

 (b) Manner of Payment. Prior to any repayment or prepayment of any Borrowings hereunder, the Borrower shall select the
Borrowing or Borrowings to be paid and shall notify the Administrative Agent of such selection and payment (i) in the case of payment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date
of such payment or (ii) in the case of payment of an ABR Borrowing, not later than 12:00 noon, New York City time, on the date of such payment; provided that each simultaneous repayment or prepayment of ABR and Eurodollar Borrowings
shall be applied, first, to pay any outstanding ABR Borrowings and, second, to other Borrowings in the order of the remaining duration of their respective Interest Periods (the Borrowing with the shortest remaining Interest Period to be repaid
first). Each repayment or prepayment of a Borrowing shall be applied ratably to the Loans included in such Borrowing. Each such notice shall be irrevocable and shall specify the repayment or prepayment date and the principal amount of each Borrowing
or portion thereof to be repaid or prepaid; provided that, if such notice is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.07, then such notice of prepayment may be revoked
if such notice of termination is revoked in accordance with Section 2.07. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial repayment or prepayment of any
Borrowing shall be in an aggregate amount of $5,000,000 or a larger multiple of $1,000,000. Repayments and Prepayments shall be accompanied by accrued interest to the extent required by Section 2.10. 

(c) Maintenance of Records by Lenders. Each Lender shall maintain in accordance with its usual practice records evidencing the
indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

(d) Maintenance of Records by the Administrative Agent. The Administrative Agent shall maintain records in which it shall record
(i) the amount of each Loan made hereunder, the Type thereof and each Interest Period therefor, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and
(iii) the amount of any sum received by the Administrative Agent hereunder for account of the Lenders and each Lender’s share thereof. 

(e) Effect of Entries. The entries made in the records maintained pursuant to paragraph (c) or (d) of this Section shall
be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such records or any error therein shall not in any manner affect
the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 
  

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 (f) Promissory Notes. Any Lender may request that Loans made by it be evidenced by a
promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the
Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form payable to
the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 
 SECTION
2.09 Fees. 
 (a) Commitment Fees. The Borrower agrees to pay to the Administrative Agent for account of each
Lender a commitment fee, which shall accrue at the Applicable Rate on the average daily unused amount of the Commitment of such Lender during the period from and including the Effective Date to but excluding the date such Commitment terminates.
Accrued commitment fees shall be payable in arrears on each Quarterly Date and on the date the Commitments terminate, commencing on the first such date to occur after the Effective Date. All commitment fees shall be computed on the basis of a year
of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing commitment fees, the Commitment of a Lender shall be deemed to be used to the extent of the
outstanding Loans and LC Exposure of such Lender. 
 (b) Letter of Credit Fees. The Borrower agrees to pay (i) to
the Administrative Agent for account of each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at a rate per annum equal to the Applicable Rate applicable to interest on Eurodollar Loans on the
average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such
Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate of 0.125% per annum on the average daily amount of the LC
Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which there
ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued
through and including each Quarterly Date shall be payable on the third Business Day following such Quarterly Date, commencing on the first such date to occur after the Effective Date; provided that all such fees shall be payable on the date
on which the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within 10 days after
demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

(c) Administrative Agent Fees. The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the
amounts and at the times separately agreed upon between the Borrower and the Administrative Agent. 
 (d) Payment of
Fees. All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of facility fees and
participation fees, to the Lenders entitled thereto. Fees paid shall not be refundable under any circumstances. 
  

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 SECTION 2.10 Interest. 

(a) ABR Loans. The Loans comprising each ABR Borrowing shall bear interest at a rate per annum equal to the Alternate Base Rate
plus the Applicable Rate. 
 (b) Eurodollar Loans. The Loans comprising each Eurodollar Borrowing shall bear interest at
a rate per annum equal to the Adjusted LIBO Rate for the Interest Period for such Borrowing plus the Applicable Rate. 
 (c)
Default Interest. Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such
overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to 2% plus the Alternate Base Rate. 

(d) Payment of Interest. Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and
upon termination of the Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand; (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment
of an ABR Loan prior to the Commitment Termination Date), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurodollar
Borrowing prior to the end of the Interest Period therefor, accrued interest on such Borrowing shall be payable on the effective date of such conversion. 

(e) Computation. All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by
reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days
elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or Adjusted LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 

SECTION 2.11 Alternate Rate of Interest. If prior to the commencement of the Interest Period for any Eurodollar Borrowing:

 (a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that
adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate for such Interest Period; or 

(b) the Administrative Agent is advised by the Required Lenders that the Adjusted LIBO Rate for such Interest Period will
not adequately and fairly reflect the cost to such Lenders of making or maintaining their respective Loans included in such Borrowing for such Interest Period; 

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders as promptly as practicable thereafter and, until the
Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or the continuation of any
Borrowing as, a Eurodollar Borrowing shall be ineffective and such Borrowing (unless prepaid) shall be continued as, or converted to, an ABR Borrowing and (ii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be
made as an ABR Borrowing. 
  

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 SECTION 2.12 Increased Costs. 

(a) Increased Costs Generally. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in the Adjusted LIBO Rate) or the Issuing Bank; 

(ii) change the basis of taxation of payments to such Lender or the Issuing Bank in respect thereof (except for
Indemnified Taxes or Other Taxes covered by Section 2.14 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or the Issuing Bank); or 

(iii) impose on any Lender or the Issuing Bank or the London interbank market any other condition, cost or expense
affecting this Agreement or Eurodollar Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of
the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan (or of maintaining its obligation to make any such Loan) or to increase the cost to such Lender or the Issuing Bank of participating in, issuing
or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the Issuing Bank hereunder (whether of principal,
interest or any other amount), in each case by an amount reasonably deemed by such Lender to be material, then, upon request of such Lender or the Issuing Bank, the Borrower will pay to such Lender or the Issuing Bank, as the case may be, such
additional amount or amounts as will compensate such Lender or the Issuing Bank, as the case may be, for such additional costs incurred or reduction suffered. 

(b) Capital Requirements. If any Lender or the Issuing Bank determines that any Change in Law affecting such Lender or the Issuing
Bank or any lending office of such Lender or such Lender’s or the Issuing Bank’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or the Issuing
Bank’s capital or on the capital of such Lender’s or the Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Commitment of such Lender or the Loans made by, or participations in Letters of Credit held by,
such Lender, or the Letters of Credit issued by the Issuing Bank, to a level below that which such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company could have achieved but for such Change in Law (taking
into consideration such Lender’s or the Issuing Bank’s policies and the policies of such Lender’s or the Issuing Bank’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such
Lender or the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company for any such reduction suffered. 

(c) Certificates for Reimbursement. A certificate of a Lender or the Issuing Bank setting forth the amount or amounts necessary to
compensate such Lender or the Issuing Bank or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay
such Lender or the Issuing Bank, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 

(d) Delay in Requests. Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to this
Section shall not constitute a waiver of such Lender’s or 
  

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the Issuing Bank’s right to demand such compensation, provided that the Borrower shall not be required to compensate a Lender or the Issuing Bank pursuant to this Section for any
increased costs incurred or reductions suffered more than 120 days prior to the date that such Lender or the Issuing Bank, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such
Lender’s or the Issuing Bank’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 120-day period referred to above shall be extended to
include the period of retroactive effect thereof). 
 (e) Termination or Assignment. If any Lender shall have delivered a
notice or certificate pursuant to paragraph (c) above, the Borrower shall have the right, at its own expense, upon notice to such Lender and the Administrative Agent, to require such Lender to (i) terminate its Commitment or
(ii) transfer and assign without recourse (in accordance with and subject to the restrictions contained in Section 9.04) all or a portion of its interest, rights and obligations under this Agreement to another financial institution (which
must be reasonably acceptable to the Administrative Agent) which shall assume such obligations; provided that (A) no such termination or assignment shall conflict with any law, rule, or regulation or order of any Governmental Authority
and (B) the Borrower or the assignee, as the case may be, shall pay to the affected Lender in immediately available funds on the date of such termination or assignment the principal of and interest accrued to the date of payment on the Loans
made by it hereunder and all other amounts accrued for its account or owed to it hereunder (including under Section 2.13). 

SECTION 2.13 Break Funding Payments. In the event of (a) the payment of any principal of any Eurodollar Loan other than on
the last day of the Interest Period therefor (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period therefor, (c) the failure to borrow, convert, continue
or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice is permitted to be revocable under Section 2.08(b) and is revoked in accordance herewith), or (d) the assignment
as a result of a request by the Borrower pursuant to Section 2.16(b) of any Eurodollar Loan other than on the last day of the Interest Period therefor, then, in any such event, the Borrower shall compensate each Lender for its loss, cost and
expense (excluding lost profits) attributable to such event. In the case of a Eurodollar Loan, the loss to any Lender attributable to any such event shall be deemed to include an amount determined by such Lender to be equal to the excess, if any, of
(i) the amount of interest that such Lender would pay for a deposit equal to the principal amount of such Loan for the period from the date of such payment, conversion, failure or assignment to the last day of the Interest Period for such Loan
(or, in the case of a failure to borrow, convert or continue, the duration of the Interest Period that would have resulted from such borrowing, conversion or continuation) if the interest rate payable on such deposit were equal to the Adjusted LIBO
Rate for such Interest Period, over (ii) the amount of interest that such Lender would earn on such principal amount for such period if such Lender were to invest such principal amount for such period at the interest rate that would be
bid by such Lender (or an affiliate of such Lender) for Dollar deposits from other banks in the eurodollar market at the commencement of such period. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to
receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof. 

SECTION 2.14 Taxes. 

(a) Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Loan Document shall be made free
and clear of and without reduction or withholding for any Indemnified Taxes or Other Taxes, provided that if the Borrower or other applicable 

 

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withholding agent shall be required by applicable law to deduct any Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be increased by the
Borrower as necessary so that after all required deductions have been made (including deductions applicable to additional sums payable under this Section) the Administrative Agent, Lender or Issuing Bank, as the case may be, receives an amount equal
to the sum it would have received had no such deductions been made, (ii) the Borrower or other applicable withholding agent shall make such deductions and (iii) the Borrower or other applicable withholding agent shall timely pay the full
amount deducted to the relevant Governmental Authority in accordance with applicable law. 
 (b) Without limiting the provisions
of paragraph (a) above, the Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 

(c) The Borrower shall indemnify the Administrative Agent, each Lender and the Issuing Bank, within 10 days after demand therefor, for
the full amount of any Indemnified Taxes payable by the Administrative Agent, such Lender or the Issuing Bank, as the case may be, on or with respect to any payment by or on account of any obligation of the Borrower hereunder or under any other Loan
Document and any Other taxes payable by the Administrative Agent, such Lender or the Issuing Bank (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and reasonable expenses
arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability
delivered to the Borrower by a Lender or the Issuing Bank (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or the Issuing Bank, shall be conclusive absent manifest error.

 (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a Governmental Authority,
the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment
reasonably satisfactory to the Administrative Agent. 
 (e) (i) Each Lender or Issuing Bank that is entitled to an exemption
from or reduction of withholding Tax (including backup withholding Tax) under the law of the jurisdiction in which the Borrower is resident for tax purposes, or any treaty to which such jurisdiction is a party, with respect to any payment under any
Loan Document shall deliver to the Borrower and the Administrative Agent at any time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation as may be prescribed by applicable law
or reasonably requested by the Borrower or the Administrative Agent to permit such payments to be made without such withholding Tax or at a reduced rate. 

(ii) Without limiting the generality of the foregoing, any Foreign Lender shall, to the extent it is legally eligible to
do so, deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a party under this Agreement (and from time to time thereafter
upon the request of the Borrower or the Administrative Agent, but only if such Foreign Lender is legally eligible to do so), whichever of the following is applicable: 

(I) duly completed copies of Internal Revenue Service Form W-8BEN (or any successor forms) claiming eligibility for
benefits of an income tax treaty to which the United States is a party, 
  

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 (II) duly completed copies of Internal Revenue Service Form W-8ECI (or any
successor forms), 
 (III) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio
interest under Section 881(c) of the Code, (x) a certificate, in substantially the form of Exhibit F-1, or any other form approved by the Administrative Agent, to the effect that such Foreign Lender is not (A) a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the applicable Borrower within the meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign
corporation” described in Section 881(c)(3)(C) of the Code, and that no payments in connection with the Loan Documents are effectively connected with such Foreign Lender’s conduct of a U.S. trade or business and (y) duly
completed copies of Internal Revenue Service Form W-8BEN (or any successor forms), 
 (IV) to the extent a
Foreign Lender is not the beneficial owner (for example, where the Foreign Lender is a partnership, or a participating Lender granting a typical participation), an Internal Revenue Service Form W-8IMY, accompanied by a Form W-8ECI, W-8BEN, a
certificate in substantially the form of Exhibit F-2, Exhibit F-3 or Exhibit F-4, as applicable, Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that, if the Foreign Lender is a partnership
(and not a participating Lender) and one or more partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender shall provide a certificate, in substantially the form of Exhibit F-3, on behalf of such beneficial
owner(s) (in lieu of requiring each beneficial owner to provide such certificate); and 
 (V) any other form
prescribed by applicable laws as a basis for claiming exemption from or a reduction in U.S. federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable requirements of law to permit the
applicable Borrower and the Administrative Agent to determine the withholding or deduction required to be made. 

(iii) Each Foreign Lender shall, from time to time after the initial delivery by such Foreign Lender of the forms
described above, whenever a lapse in time or change in such Lender’s circumstances renders such forms, certificates or other evidence so delivered obsolete or inaccurate, promptly (1) deliver to the Borrower and the Administrative Agent
(in such number of copies as shall be requested by the recipient) renewals, amendments or additional or successor forms, properly completed and duly executed by such Foreign Lender, together with any other certificate or statement of exemption
required in order to confirm or establish such Foreign Lender’s status or that such Foreign Lender is entitled to an exemption from or reduction in any applicable withholding tax or (2) notify Administrative Agent and the Borrower of its
inability to deliver any such forms, certificates or other evidence. 
 (iv) Any Lender or Issuing Bank that is a
“United States person” (within the meaning of Section 7701(a)(30) of the Code) shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Person becomes a party under this Agreement (and from time
to time thereafter as prescribed by applicable law or upon the request of the Borrower or the Administrative Agent), duly executed and properly completed copies of Internal Revenue Service Form W-9 certifying that it is not subject to U.S. federal
backup withholding. 
  

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 (V) If a Lender claims it has complied with Sections 1471 through
1474 of the Code, such Lender, if reasonably requested by the Administrative Agent or the Borrower, shall deliver to the Administrative Agent and the Borrower (A) a certification signed by the chief financial officer, principal
accounting officer, treasurer or controller and (B) other documentation reasonably requested by the Administrative Agent or the Borrower sufficient for the Administrative Agent and the Borrower to comply with its obligations under Sections 1471
through 1474 of the Code and to determine that such Lender has complied with such applicable reporting requirements. 
 (f) If
the Administrative Agent, a Lender or the Issuing Bank determines, in its sole discretion, that it has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid
additional amounts pursuant to this Section, it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section with respect to the Taxes or
Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent, such Lender or the Issuing Bank, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund), provided that the Borrower, upon the request of the Administrative Agent, such Lender or the Issuing Bank, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by
the relevant Governmental Authority) to the Administrative Agent, such Lender or the Issuing Bank in the event the Administrative Agent, such Lender or the Issuing Bank is required to repay such refund to such Governmental Authority. This paragraph
shall not be construed to require the Administrative Agent, any Lender or the Issuing Bank to make available its tax returns (or any other information relating to its taxes that it deems confidential in its reasonable discretion) to the Borrower or
any other Person. 
 SECTION 2.15 Payments Generally; Pro Rata Treatment; Sharing of Setoffs. 

(a) Payments by the Borrower. The Borrower shall make each payment required to be made by it hereunder (whether of principal,
interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section 2.12, Section 2.13 or Section 2.14, or otherwise), or under any other Loan Document (except to the extent otherwise provided therein), prior to
2:00 pm, New York City time, on the date when due, in immediately available funds, without setoff or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received
on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its offices at the address provided pursuant to Section 9.01, except as otherwise expressly
provided in the relevant Loan Document and except payments to be made directly to the Issuing Bank as expressly provided herein and payments pursuant to Section 2.12, Section 2.13, Section 2.14 and Section 9.03, which shall be
made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall
be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All
payments hereunder or under any other Loan Document (except to the extent otherwise provided therein) shall be made in Dollars. 

(b) Application of Insufficient Payments. If at any time insufficient funds are received by and available to the Administrative
Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, to pay interest and fees then due hereunder, ratably among the parties entitled thereto in
accordance with the amounts of interest and fees then due to such parties, and (ii) second, to pay principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of
principal and unreimbursed LC Disbursements then due to such parties. 
  

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 (c) Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each
Borrowing shall be made from the Lenders, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders, and each termination or reduction of the amount of the Commitments under Section 2.07 shall be applied to
the respective Commitments of the Lenders, pro rata according to the amounts of their respective Commitments; (ii) each Borrowing shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments (in the
case of the making of Loans) or their respective Loans that are to be included in such Borrowing (in the case of conversions and continuations of Loans); (iii) each payment or prepayment of principal of Loans by the Borrower shall be made for
account of the Lenders pro rata in accordance with the respective unpaid principal amounts of the Loans held by them; and (iv) each payment of interest on Loans by the Borrower shall be made for account of the Lenders pro rata in accordance
with the amounts of interest on such Loans then due and payable to the respective Lenders. 
 (d) Sharing of Payments by
Lenders. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans or other obligations hereunder resulting in such Lender’s receiving
payment of a proportion of the aggregate amount of its Loans and accrued interest thereon or other such obligations greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (A) notify
the Administrative Agent of such fact and (B) purchase (for cash at face value) participations in the Loans and such other obligations of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such
payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them, provided that: 

(i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such
participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(ii) the provisions of this paragraph shall not be construed to apply to (x) any payment made by the Borrower
pursuant to and in accordance with the express terms of this Agreement or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any
assignee or participant, other than to the Borrower or any Subsidiary thereof (as to which the provisions of this paragraph shall apply). 
 The
Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and
counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation. 

(e) Payments by the Borrower; Presumptions by the Administrative Agent. Unless the Administrative Agent shall have received notice
from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the
Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such
payment, then each of the Lenders or the Issuing Bank, as the case 
  

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may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the Issuing Bank with interest thereon, for each day from and
including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking
industry rules on interbank compensation. 
 (f) Certain Deductions by the Administrative Agent. If any Lender shall fail
to make any payment required to be made by it pursuant to Section 2.04(e), Section 2.05 or Section 2.15(e), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts
thereafter received by the Administrative Agent for account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 

SECTION 2.16 Mitigation Obligations; Replacement of Lenders. 

(a) Designation of a Different Lending Office. If any Lender requests compensation under Section 2.12, or requires the
Borrower to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14, then such Lender shall use reasonable efforts to designate a different lending office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable
pursuant to Section 2.12 or Section 2.14, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby
agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

(b) Replacement of Lenders. If any Lender requests compensation under Section 2.12, or if the Borrower is required to pay any
additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14, or if any Lender becomes a Defaulting Lender, or if any Lender shall withhold its consent to any amendment to this Credit
Agreement that requires the consent of all the Lenders or each affected Lender and that has been consented to by the Required Lenders, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent,
require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 9.04), all of its interests, rights and obligations under this Agreement and the
related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that: 

(i) the Borrower shall have paid to the Administrative Agent the assignment fee specified in Section 9.04;

 (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and
participations in LC Disbursements, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 2.13) from the assignee (to the extent of such
outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 
 (iii)
in the case of any such assignment resulting from a claim for compensation under Section 2.12 or payments required to be made pursuant to Section 2.14, such assignment will result in a reduction in such compensation or payments thereafter;
and 
 (iv) such assignment does not conflict with applicable law. 

 

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 A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a
waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. Each Lender agrees that, if the Borrower elects to replace such Lender in accordance with this Section 2.16,
it shall promptly execute and deliver to the Administrative Agent an Assignment and Assumption to evidence the assignment and shall deliver to the Administrative Agent any Notes issued in respect of such Lender’s Loans; provided that the
failure of any such Lender to execute an Assignment and Assumption shall not render such assignment invalid and such assignment shall be recorded in the Register. 

SECTION 2.17 Defaulting Lenders. 

Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions
shall apply for so long as such Lender is a Defaulting Lender: 
 (a) commitment fees shall cease to accrue on the unfunded
portion of the Commitment of such Defaulting Lender pursuant to Section 2.09(a); 
 (b) the Commitments and Revolving
Credit Exposure of such Defaulting Lender shall not be included in determining whether all Lenders or the Required Lenders have taken or may take any action hereunder (including any consent to any amendment or waiver pursuant to Section 9.02),
provided that any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender which affects such Defaulting Lender differently than other affected Lenders shall require the consent of such Defaulting Lender;

 (c) if any LC Exposure exists at the time a Lender becomes a Defaulting Lender then: 

(i) all or any part of such LC Exposure shall be reallocated among the non-Defaulting Lenders in accordance with their
respective Applicable Percentages but only to the extent (x) the sum of all non-Defaulting Lenders’ Revolving Credit Exposures and LC Exposure does not exceed the total of all non-Defaulting Lenders’ Commitments and (y) the
conditions set forth in Section 4.02 are satisfied at such time; and 
 (ii) if the reallocation described
in clause (i) above cannot, or can only partially, be effected, the Borrower shall within one Business Day following notice by the Administrative Agent, without prejudice to any rights or remedies of the Borrower against such Defaulting Lender,
cash collateralize such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.04(k) for so long as such LC Exposure is
outstanding; 
 (iii) if the Borrower cash collateralizes any portion of such Defaulting Lender’s LC
Exposure pursuant to Section 2.17(c), the Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.09(b) with respect to such Defaulting Lender’s LC Exposure during the period such Defaulting
Lender’s LC Exposure is cash collateralized; 
 (iv) if the LC Exposure of the non-Defaulting Lenders is
reallocated pursuant to Section 2.17(c), then the fees otherwise payable to the Defaulting Lender pursuant to Section 2.09(b) shall be allocated among the non-Defaulting Lenders in accordance with such non-Defaulting Lenders’
Applicable Percentages; 
  

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 (v) if any Defaulting Lender’s LC Exposure is neither cash
collateralized nor reallocated pursuant to Section 2.17(c), then, without prejudice to any rights or remedies of the Issuing Bank or any Lender hereunder, all commitment fees that otherwise would have been payable to such Defaulting Lender
(solely with respect to the portion of such Defaulting Lender’s Commitment that was utilized by such LC Exposure) and letter of credit fees payable under Section 2.09(b) with respect to such Defaulting Lender’s LC Exposure shall be
payable to the Issuing Bank until such LC Exposure is cash collateralized and/or reallocated; 
 (d) so long as any Lender is a
Defaulting Lender, the Issuing Bank shall not be required to issue, amend or increase any Letter of Credit, unless it is satisfied that the related exposure will be 100% covered by the Commitments of the non-Defaulting Lenders and/or cash collateral
will be provided by the Borrower in accordance with Section 2.17(c), and participating interests in any such newly issued or increased Letter of Credit shall be allocated among non-Defaulting Lenders in a manner consistent with
Section 2.17(c)(i) (and Defaulting Lenders shall not participate therein); and 
 (e) any amount payable to such Defaulting
Lender hereunder (whether on account of principal, interest, fees or otherwise and including any amount that would otherwise be payable to such Defaulting Lender pursuant to Section 2.15(d) but excluding Section 2.16(b)) shall, in lieu of
being distributed to such Defaulting Lender, be retained by the Administrative Agent in a segregated account and, subject to any applicable requirements of law, be applied at such time or times as may be determined by the Administrative Agent
(i) first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder, (ii) second, pro rata, to the payment of any amounts owing by such Defaulting Lender to the Issuing Bank hereunder,
(iii) third, if so determined by the Administrative Agent or requested by an Issuing Bank, to be held in such account as cash collateral for future funding obligations of the Defaulting Lender of any participating interest in any Letter of
Credit, (iv) fourth, to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent, (v) fifth, if so determined by the
Administrative Agent and the Borrower, held in such account as cash collateral for future funding obligations of the Defaulting Lender of any Loans under this Agreement, (vi) sixth, to the payment of any amounts owing to the Lenders or an
Issuing Bank as a result of any judgment of a court of competent jurisdiction obtained by any Lender or such Issuing Bank against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement,
(vii) seventh, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of
its obligations under this Agreement, and (viii) eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if such payment is (x) a prepayment of the principal amount of any Loans
or reimbursement obligations in respect of LC Disbursements for which a Defaulting Lender has funded its participation obligations and (y) made at a time when the conditions set forth in Section 4.02 are satisfied, such payment shall be
applied solely to prepay the Loans of, and reimbursement obligations owed to, all non-Defaulting Lenders pro rata prior to being applied to the prepayment of any Loans, or reimbursement obligations owed to, any Defaulting Lender. 

In the event that the Administrative Agent, the Borrower and the Issuing Bank each agrees that a Defaulting Lender has adequately
remedied all matters that caused such Lender to be a Defaulting Lender, then the LC Exposure of the Lenders shall be readjusted to reflect the inclusion of such Lender’s Commitment and on such date such Lender shall purchase at par such of the
Loans of the other Lenders as the Administrative shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Applicable Percentage. 
  

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 ARTICLE III  

REPRESENTATIONS AND WARRANTIES 

The Borrower represents and warrants to the Administrative Agent, the Issuing Bank and each of the Lenders that: 

SECTION 3.01 Organization; Powers; Governmental Approvals. 

(a) The Borrower and each Principal Subsidiary (i) is a corporation duly organized, validly existing and in good standing under the
laws of the jurisdiction of its organization, (ii) has all requisite power and authority to own its property and assets and to carry on its business as now conducted and (iii) is qualified to do business in every jurisdiction where such
qualification is required, except where the failure so to qualify would not have a Material Adverse Effect. The Borrower’s execution, delivery and performance of the Loan Documents are within its corporate powers, have been duly authorized by
all necessary action and do not violate or create a default under (A) law, (B) its constituent documents, or (C) any contractual provision binding upon it, except to the extent (in the case of violations or defaults described under
clauses (A) or (C)) such violation or default would not reasonably be expected to result in a Material Adverse Effect and would not have an adverse effect on the validity, binding effect or enforceability of this Agreement or any other Loan
Documents and would not materially adversely affect any of the rights of the Administrative Agent or any Lender under or in connection with this Agreement or any other Loan Documents. Each of the Loan Documents constitutes the legal, valid and
binding obligation of the Borrower enforceable against it in accordance with its terms (except as such enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium and other laws affecting the rights of creditors
generally and general principles of equity, including an implied covenant of good faith and fair dealing). 
 (b) Except for
(i) any Governmental Approvals required in connection with any Borrowings (such approvals being “Borrowing Approvals”) and (ii) any Governmental Approvals the failure to obtain which could not reasonably be expected to
result in a Material Adverse Effect or affect the validity or enforceability of this Agreement or any other Loan Document, all Governmental Approvals required in connection with the execution and delivery by the Borrower of this Agreement and the
other Loan Documents and the performance by the Borrower of its obligations hereunder and thereunder have been, and, prior to the time of any Borrowing, all Borrowing Approvals will be, duly obtained, are (or, in the case of Borrowing Approvals,
will be) in full force and effect without having been amended or modified in any manner that may impair the ability of the Borrower to perform its obligations under this Agreement, and are not (or, in the case of Borrowing Approvals, will not be)
the subject of any pending appeal, stay or other challenge. 
 SECTION 3.02 Financial Statements. 

(a) The Borrower has furnished to the Lenders, for itself and its Subsidiaries, its most recent filings with the Securities and Exchange
Commission on Forms 10-K and 10-Q. Such Forms 10-K and 10-Q do not contain any untrue statement of a material fact or omit to state a material fact necessary to make any statement therein, in light of the circumstances under which it was made, not
misleading. Each of the financial statements in such Forms 10-K and 10-Q has been, and each of the financial statements to be furnished pursuant to Section 5.02 will be, prepared in accordance with GAAP applied consistently with prior periods,
except as therein noted, and fairly presents or will fairly present in all material respects the consolidated financial position of the Borrower and its Subsidiaries as of the date thereof and the results of the operations of the Borrower and its
Subsidiaries for the period then ended. 
  

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 (b) The pro forma financial statements referred to in Section 4.02(k) have been
prepared in accordance with the requirements set forth in Rule 11-02 of Regulation S-X promulgated by the Securities and Exchange Commission. 

SECTION 3.03 No Material Adverse Change. Since the date of the Borrower’s most recent financial statements contained in its
Annual Report on Form 10-K for the fiscal year ended December 31, 2009, furnished to the Lenders pursuant to Section 4.01(k), there has been no material adverse change in, and there has occurred no event or condition which is likely to
result in a material adverse change in, the financial condition, results of operations, business, assets or operations of the Borrower and the Subsidiaries taken as a whole (it being understood that the consummation of an Asset Exchange shall not
constitute such a material adverse change). 
 SECTION 3.04 Titles to Properties; Possession under Leases. 

(a) To the best of the Borrower’s knowledge, each of the Borrower and the Principal Subsidiaries has good and marketable title to,
or valid leasehold interests in, or other rights to use or occupy, all its material properties and assets, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such
properties and assets for their intended purposes. All such material properties and assets are free and clear of Liens, other than Liens expressly permitted by Section 6.01. 

(b) Each of the Borrower and the Principal Subsidiaries has complied with all obligations under all material leases to which it is a
party and all such leases are in full force and effect, except where such failure to comply or maintain such leases in full force and effect would not have a Material Adverse Effect. Each of the Borrower and the Subsidiaries enjoys peaceful and
undisturbed possession under all such material leases except where such failure would not have a Material Adverse Effect. 

SECTION 3.05 Ownership of Subsidiaries. The Borrower owns, free and clear of any Lien (other than Liens expressly permitted by
Section 6.01), all of the issued and outstanding shares of common stock of each of the Principal Subsidiaries. 
 SECTION
3.06 Litigation; Compliance with Laws. 
 (a) There is no action, suit, or proceeding, or any governmental investigation
or any arbitration, in each case pending or, to the knowledge of the Borrower, threatened against the Borrower or any of the Subsidiaries or any material property of any thereof before any court or arbitrator or any governmental or administrative
body, agency, or official which (i) challenges the validity of this Agreement or any other Loan Document, (ii) may reasonably be expected to have a material adverse effect on the ability of the Borrower to perform any of its obligations
under this Agreement or any other Loan Document or on the rights of or benefits available to the Lenders under this Agreement or any other Loan Document or (iii) except as disclosed in the Borrower’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2009, may reasonably be expected to have a Material Adverse Effect. 
 (b) Neither the
Borrower nor any of the Subsidiaries is in violation of any law, rule, or regulation, or in default with respect to any judgment, writ, injunction or decree of any Governmental Authority, where such violation or default could reasonably be
anticipated to result in a Material Adverse Effect. 
 (c) Except as set forth in or contemplated by the financial statements or
other reports referred to in Section 3.02 and which have been delivered to the Lenders on or prior to the date hereof, (i)

 

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the Borrower and each of its Subsidiaries have complied with all Environmental Laws, except to the extent that failure to so comply is not reasonably likely to have a Material Adverse Effect,
(ii) neither the Borrower nor any of its Subsidiaries has failed to obtain, maintain or comply with any permit, license or other approval under any Environmental Law, except where such failure is not reasonably likely to have a Material Adverse
Effect, (iii) neither the Borrower nor any of its Subsidiaries has received notice of any failure to comply with any Environmental Law or become subject to any liability under any Environmental Law, except where such failure or liability is not
reasonably likely to have a Material Adverse Effect, (iv) no facilities of the Borrower or any of its Subsidiaries are used to manage any Specified Substance in violation of any law, except to the extent that such violations, individually or in
the aggregate, are not reasonably likely to have a Material Adverse Effect, and (v) the Borrower is aware of no events, conditions or circumstances involving any Release of a Specified Substance that is reasonably likely to have a Material
Adverse Effect. 
 SECTION 3.07 Agreements. 

(a) Neither the Borrower nor any of the Subsidiaries is a party to any agreement or instrument or subject to any corporate restriction
that has resulted, or could reasonably be anticipated to result, in a Material Adverse Effect. 
 (b) Neither the Borrower nor
any of the Subsidiaries is in default in any manner under any provision of any indenture or other agreement or instrument evidencing Indebtedness, or any other material agreement or instrument to which it is a party or by which it or any of its
properties or assets are or may be bound, where such default could reasonably be anticipated to result in a Material Adverse Effect. 

SECTION 3.08 Federal Reserve Regulations. No part of the proceeds of the Loans will be used, whether directly or indirectly, and
whether immediately, incidentally, or ultimately, for any purpose which entails a violation of, or which is inconsistent with, the provisions of the Margin Regulations. 

SECTION 3.09 Investment Company Act. Neither the Borrower nor any of the Subsidiaries is an “investment company” as
defined in, or subject to regulation under, the Investment Company Act of 1940. 
 SECTION 3.10 Use of Proceeds. The
Borrower will use the proceeds of the Loans only for general corporate purposes, including working capital and support of commercial paper issuances and Securitization Transactions permitted hereunder as well as one or more acquisitions or Asset
Exchanges; provided that no such proceeds shall be used (i) to make any Restricted Payment or (ii) directly or indirectly in connection with any Hostile Acquisition. 

SECTION 3.11 Tax Returns. Each of the Borrower and each of the Subsidiaries has filed or caused to be filed all Federal, state and
local and non-U.S. tax returns required to have been filed by it and has paid or caused to be paid all taxes (whether or not shown in such tax returns) and satisfied all of its withholding tax obligations, except (i) taxes that are being
contested in good faith by appropriate proceedings and for which the Borrower shall have set aside on its books adequate reserves in accordance with GAAP and (ii) where such failure to file or pay would not reasonably be expected to result in a
Material Adverse Effect. 
 SECTION 3.12 No Material Misstatements. No statement, information, report, financial
statement, exhibit or schedule furnished by or on behalf of the Borrower to the Administrative Agent or any Lender in connection with the syndication or negotiation of this Agreement or any other

  

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Loan Document or included herein or therein or delivered pursuant hereto or thereto contained, contains, or will contain any material misstatement of fact or intentionally omitted, omits, or will
omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were, are, or will be made, not misleading. 

SECTION 3.13 Employee Benefit Plans. 

(a) Each Plan is in compliance with ERISA, except for such noncompliance that has not resulted, and could not reasonably be anticipated
to result, in a Material Adverse Effect. 
 (b) No Plan has an accumulated or waived funding deficiency within the meaning of
Section 412 or Section 418B of the Code and no failure to satisfy the minimum funding standard under Section 412 of the Code has occurred, whether or not waived, with respect to any Plan, except for any such deficiency or failure that
has not resulted, and could not reasonably be anticipated to result, in a Material Adverse Effect. 
 (c) No proceedings have
been instituted to terminate any Plan, except for such proceedings where the termination of a Plan has not resulted, and could not reasonably be anticipated to result, in a Material Adverse Effect. 

(d) Neither the Borrower nor any Subsidiary or ERISA Affiliate has incurred any liability to or on account of a Plan under ERISA (other
than obligations to make contributions in accordance with such Plan), and no condition exists which presents a material risk to the Borrower or any Subsidiary of incurring such a liability, except for such liabilities that have not resulted,
and could not reasonably be anticipated to result, in a Material Adverse Effect. 
 SECTION 3.14 Insurance. Each of the
Borrower and the Principal Subsidiaries maintains insurance with financially sound and reputable insurers, or self-insurance, with respect to its properties and business against loss or damage of the kind customarily insured against by reputable
companies in the same or similar business and of such types and in such amounts (with such deductible amounts) as is customary for such companies under similar circumstances. 

ARTICLE IV  

CONDITIONS 

SECTION 4.01 Effective Date. The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit
hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02): 

(a) Executed Counterparts. The Administrative Agent shall have received from each party hereto either (i) a
counterpart of this Agreement signed on behalf of such party or (ii) written evidence reasonably satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page to this Agreement) that such party has
signed a counterpart of this Agreement. 
 (b) Opinion of General Counsel to the Borrower. The
Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of Hilary E. Glassman, Esq., General Counsel to the Borrower, substantially in the form of
Exhibit B, and covering such other matters relating to the Borrower, this Agreement or the Transactions as the Administrative Agent shall reasonably request (and the Borrower hereby instructs such counsel to deliver such opinion to the Lenders
and the Administrative Agent). 
  

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 (c) Opinion of Special New York Counsel to the Borrower. The
Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of Cravath, Swaine & Moore LLP, special New York Counsel to the Borrower,
substantially in the form of Exhibit C, and covering such other matters relating to the Borrower, this Agreement or the Transactions as the Administrative Agent shall reasonably request (and the Borrower hereby instructs such counsel to deliver
such opinion to the Lenders and the Administrative Agent). 
 (d) The Merger. The Merger shall have been
consummated simultaneously or substantially concurrent with the occurrence of the Effective Date under this Agreement in accordance with the Merger Agreement, and no provision of the Merger Agreement shall have been amended, waived or otherwise
modified in any manner materially adverse to the Lenders. 
 (e) Legal Matters. All legal matters incident
to this Agreement and the borrowings hereunder shall be reasonably satisfactory to the Administrative Agent and the Lenders. 

(f) Corporate Documents. The Administrative Agent shall have received, in form and substance reasonably
satisfactory to it, such documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of the Borrower and the authorization of the Transactions. 

(g) Officer’s Certificate. The Administrative Agent shall have received, in form and substance reasonably
satisfactory to it, a certificate, dated the Effective Date and signed by a Financial Officer of the Borrower, confirming that as of the Effective Date (i) the representations and warranties of the Borrower set forth in this Agreement and in
the other Loan Documents are true and correct in all material respects and (ii) no Default shall have occurred and be continuing. 

(h) Fees. The Administrative Agent and the Lenders shall have received payment of all fees as the Borrower shall
have agreed to pay to the Administrative Agent or any Lender in connection herewith, including the reasonable fees and expenses of Cahill Gordon & Reindel LLP, special New York counsel to JPMorgan Chase Bank, N.A., in
connection with the negotiation, preparation, execution and delivery of this Agreement and the other Loan Documents and the extensions of credit hereunder (to the extent that statements for such fees and expenses have been delivered to the
Borrower). 
 (i) Termination of Existing Credit Agreement. The Administrative Agent shall have received
evidence that the principal of and interest on the loans under, and all other amounts owing under or in respect of, the Existing Credit Agreement shall have been (or shall simultaneously be) paid in full and all commitments to extend credit
thereunder of any lender thereunder shall have been terminated, in each case in a manner reasonably satisfactory to the Administrative Agent. 

(j) Necessary Consents and Approvals. The Administrative Agent shall have received evidence, in form and substance
reasonably satisfactory to it, that all material consents, licenses, permits and governmental and third-party consents and approvals required for the due execution, delivery and performance by the Borrower of this Agreement have been obtained and
remain in full force and effect. 
  

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 (k) Financial Statements. The Lenders and the Administrative Agent
shall have received (i) audited consolidated financial statements of (x) the Borrower and (y) Spinco for the two most recent fiscal years ended prior to the Effective Date as to which such financial statements are available,
(ii) unaudited interim consolidated financial statement of (x) the Borrower and (y) Spinco for each quarterly period ended subsequent to the date of the latest financial statement delivered pursuant to clause (i) of this
paragraph and at least 45 days prior to the Effective Date and (iii) pro forma financial statements of the Borrower giving effect to the Merger for the most recent fiscal year referred to in clause (i) of this paragraph and, to the extent
available to the Borrower, the most recent interim period referred to in clause (ii) of this paragraph. 

(l) PATRIOT Act. The Administrative Agent shall have received all documentation and other information required by
regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation, the USA PATRIOT Act that has been requested at least five Business Days prior to the Effective
Date. 
 Notwithstanding the foregoing, the obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of
Credit hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section 9.02) at or prior to 5:00 p.m., New York City time, on September 30, 2010 (and, in the event such conditions
are not so satisfied or waived, the Commitments shall terminate at such time). 
 SECTION 4.02 Each Credit Event. The
obligation of each Lender to make any Loan, including any Loans on the date hereof, and of the Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following conditions: 

(a) the representations and warranties of the Borrower set forth in this Agreement and in the other Loan Documents (except
Section 3.03 and 3.06(a) in the case of a conversion of a Loan from one Type to another or the continuation of a Loan with a new Interest Period that does not increase the principal amount thereof or the amendment of a Letter of Credit that
does not increase the face amount thereof) shall be true and correct in all material respects on and as of the date of such Loan or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable (except to the extent
such representations and warranties expressly relate to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date); and 

(b) at the time of and immediately after giving effect to such Loan or the issuance, amendment, renewal or extension of
such Letter of Credit, as applicable, no Default shall have occurred and be continuing. 
 Each Borrowing and each issuance,
amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in the preceding sentence. 

 

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 ARTICLE V  

AFFIRMATIVE COVENANTS 

The Borrower covenants and agrees with the Administrative Agent, the Issuing Bank and each Lender that, so long as this Agreement shall
remain in effect or the principal of or interest on any Loan (or any portion thereof), or any other expenses or amounts payable hereunder, shall be unpaid, or any Letter of Credit shall remain outstanding, the Borrower will: 

SECTION 5.01 Existence; Businesses and Properties. 

(a) Preserve and maintain, cause each of the Principal Subsidiaries to preserve and maintain, and cause each other Subsidiary to preserve
and maintain (where the failure by any such other Subsidiary to so preserve and maintain would likely result in a Material Adverse Effect), its corporate existence, rights and franchises, except in connection with an Asset Exchange, provided
that the corporate existence of any Principal Subsidiary may be terminated if such termination is not disadvantageous to the Administrative Agent or any Lender; 

(b) continue to own all of the outstanding shares of common stock of each Principal Subsidiary, except in connection with an Asset
Exchange; 
 (c) comply, and cause each of the Subsidiaries to comply, in all material respects, with all applicable laws,
rules, regulations and orders, including all Environmental Laws; 
 (d) pay, and cause each of the Subsidiaries to pay, before
any such amounts become delinquent, (i) all Taxes imposed upon it or upon its property, and (ii) all claims (including claims for labor, materials, supplies, or services) which might, if unpaid, become a Lien upon its property, unless, in
each case, the validity or amount thereof is being disputed in good faith, and the Borrower has maintained adequate reserves with respect thereto, in each case where the failure to so pay would be reasonably expected to cause a Material Adverse
Effect; 
 (e) keep, and cause each of the Subsidiaries to keep, proper books of record and account, containing complete and
accurate entries of all financial and business transactions of the Borrower and such Subsidiary in all material respects; 
 (f)
continue to carry on, and cause each Principal Subsidiary to continue to carry on, substantially the same type of business as the Borrower or such Principal Subsidiary conducted as of the date hereof and business reasonably related thereto, except
for changes in such business that result from an Asset Exchange; and 
 (g) maintain or cause to be maintained insurance with
financially sound and reputable insurers, or self-insurance, with respect to its properties and business and the properties and business of the Subsidiaries against loss or damage of the kinds customarily insured against by reputable companies in
the same or similar businesses, such insurance to be of such types and in such amounts (with such deductible amounts) as is customary for such companies under similar circumstances; 

provided that the foregoing shall not limit the right of the Borrower or any of its Subsidiaries to engage in any transaction not otherwise
prohibited by Section 6.02, 6.03 or 6.04. 
 SECTION 5.02 Financial Statements, Reports, Etc. In the case of the
Borrower, furnish to the Administrative Agent and each Lender: 
 (a) as soon as available and in any event
within 110 days after the end of each fiscal year, consolidated balance sheets and the related statements of income and cash flows of the Borrower and its Subsidiaries (the Borrower and its Subsidiaries being collectively referred to as the
“Companies”) as of the close of such fiscal year (which requirement shall be deemed satisfied by the delivery of the Borrower’s Annual Report on Form 10-K (or any successor form) for such

  

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year), all audited by KPMG LLP or other independent public accountants of recognized national standing and accompanied by an opinion of such accountants to the effect that such consolidated
financial statements fairly present in all material respects the financial condition and results of operations of the Companies on a consolidated basis in accordance with GAAP consistently applied; 

(b) within 65 days after the end of each of the first three fiscal quarters of each fiscal year (commencing with the
fiscal quarter ending on or prior to the Effective Date for which financial statements have not been delivered pursuant to Section 4.01(k), consolidated balance sheets and related statements of income and cash flows of the Companies as of the
close of such fiscal quarter and the then elapsed portion of the fiscal year (which requirement shall be deemed satisfied by the delivery of the Borrower’s Quarterly Report on Form 10-Q (or any successor form) for such quarter), each certified
by a Financial Officer as fairly presenting in all material respects the financial condition and results of operations of the Companies on a consolidated basis in accordance with GAAP consistently applied, subject to the absence of footnotes and
normal year-end audit adjustments; 
 (c) concurrently with any delivery of financial statements under paragraph
(a) or (b) of this Section 5.02, a certificate of a Financial Officer of the Borrower (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or
proposed to be taken with respect thereto and (ii) setting forth reasonably detailed calculations (including with respect to any pro forma effect given to a Material Transaction) demonstrating compliance with Section 6.07 as of the last
day of the most recent fiscal quarter covered by such financial statements; 
 (d) promptly upon the mailing or
filing thereof, copies of all financial statements, reports and proxy statements mailed to the Borrower’s public shareholders, and copies of all registration statements (other than those on Form S-8) and Form 8-K’s (to the extent that such
Form 8-K’s disclose actual or potential adverse developments with respect to the Borrower or any of its Subsidiaries that constitute, or could reasonably be anticipated to constitute, a Material Adverse Effect) filed with the Securities and
Exchange Commission (or any successor thereto) or any national securities exchange; 
 (e) promptly after
(i) the occurrence thereof, notice of any ERISA Termination Event or “prohibited transaction”, as such term is defined in Section 4975 of the Code, with respect to any Plan that results, or could reasonably be anticipated to
result, in a Material Adverse Effect, which notice shall specify the nature thereof and the Borrower’s proposed response thereto, and (ii) actual knowledge thereof, copies of any notice of PBGC’s intention to terminate or to have a
trustee appointed to administer any Plan; and 
 (f) promptly, from time to time, such other information,
regarding its operations, business affairs and financial condition, or compliance with the terms of this Agreement, as the Administrative Agent or any Lender (through the Administrative Agent) may reasonably request. 

Documents required to be delivered pursuant to Section 5.02(a), (b) or (d) (to the extent any such documents are included in materials
otherwise filed with the Securities and Exchange Commission (or any successor thereto)) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or
provides a link thereto at www.czn.com; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a

  

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commercial, third-party website or whether sponsored by the Administrative Agent); provided that: (i) the Borrower shall deliver paper copies of such documents to the Administrative
Agent or any Lender that requests the Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender and (ii) the Borrower shall notify the Administrative Agent
and each Lender (by telecopier or electronic mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained
herein, in every instance the Borrower shall be required to provide paper copies of the compliance certificates required by Section 5.02(c) to the Administrative Agent. Except for such compliance certificates, the Administrative Agent shall
have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be
solely responsible for requesting delivery to it or maintaining its copies of such documents. 
 SECTION 5.03 Litigation and
Other Notices. Furnish to the Administrative Agent and each Lender prompt written notice of the following upon any Financial Officer of the Borrower becoming aware thereof: 

(a) any Event of Default or Default, specifying the nature and extent thereof and the corrective action (if any) proposed
to be taken with respect thereto; 
 (b) the filing or commencement of, or any written notice of intention of any
Person to file or commence, any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority, against the Borrower or any of the Subsidiaries which is reasonably likely to be adversely determined and which, if
adversely determined, could reasonably be anticipated to result in a Material Adverse Effect; and 
 (c) any
development with respect to the Borrower or any Subsidiary that has resulted in, or could reasonably be anticipated to result in, a Material Adverse Effect. 

SECTION 5.04 Maintaining Records. Maintain all financial records in accordance with GAAP and, upon reasonable notice, permit the
Administrative Agent and each Lender to visit and inspect the financial records of the Borrower at reasonable times and as often as reasonably requested and to make extracts from and copies of such financial records, and permit any representatives
designated by the Administrative Agent or any Lender to discuss the affairs, finances and condition of the Borrower with the appropriate officers thereof and, with the Borrower’s consent (which shall not be unreasonably withheld), the
independent accountants therefor; provided that if the Borrower shall so require, a single representative shall be appointed by Lenders holding at least 50% of the aggregate outstanding principal balance of the Loans to exercise the rights
granted to the Lenders under this Section 5.04; provided further that when an Event of Default exists the Administrative Agent or any Lender may do any of the foregoing, upon reasonable notice, at any time during normal business hours
(without appointment of a single representative by the Lenders). 
 SECTION 5.05 Use of Proceeds. Use the proceeds of the
Loans only for general corporate purposes, including working capital and support of commercial paper issuances and Securitization Transactions permitted hereunder as well as one or more acquisitions or Asset Exchanges; provided that no such
proceeds shall be used (i) to make any Restricted Payment, or (ii) directly or indirectly in connection with any Hostile Acquisition. 
  

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 ARTICLE VI  

NEGATIVE COVENANTS 

The Borrower covenants and agrees with each Lender, the Issuing Bank and the Administrative Agent that, so long as this Agreement shall
remain in effect or the principal of or interest on any Loan (or any portion thereof), or any other expenses or amounts payable hereunder, shall be unpaid or any Letter of Credit shall remain outstanding, it will not: 

SECTION 6.01 Liens; Restrictions on Sales of Receivables. Create, incur, assume, or suffer to exist, or permit any of the
Subsidiaries to create, incur, assume, or suffer to exist, any Lien on any of its property now owned or hereafter acquired to secure any Indebtedness of the Borrower or any such Subsidiary, or sell or assign any accounts receivable (other than in
the ordinary course of business substantially in accordance with the Borrower’s past practice), other than: (a) Liens incurred or deposits made in the ordinary course of business to secure surety and appeal bonds, leases, return-of-money
bonds and other similar obligations (exclusive of obligations of the payment of borrowed money); (b) pledges or deposits to secure the utility obligations of the Borrower incurred in the ordinary course of business; (c) Liens upon or in
property now owned or hereafter acquired to secure Indebtedness incurred (i) solely for the purpose of financing the acquisition, construction or improvement of such property, provided that such Indebtedness shall not exceed the fair
market value of the property being acquired, constructed or improved or (ii) to refinance, refund, renew or extend any Indebtedness described in subclause (i) that does not increase the principal amount thereof except by the amount of
accrued and unpaid interest and premium thereon and reasonable fees and expense in connection with such refinancing, refunding, renewal or extension so long as the Liens securing such Indebtedness shall be limited to all or part of the same property
that secured the Indebtedness refinanced, refunded, renewed or extended; (d) Liens on the assets of any Person merged or consolidated with or into (in accordance with Section 6.04) the Borrower or any Principal Subsidiary that were in
effect at the time of such merger or consolidation; (e) Liens for taxes, assessments and governmental charges or levies, which are not yet due or are which are being contested in good faith by appropriate proceedings; (f) Liens securing
Indebtedness of the Borrower or any Subsidiary to the Rural Electrification Administration or the Rural Utilities Service (or any successor to any such agency) in an aggregate principal amount outstanding at any time not to exceed $25,000,000;
(g) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, supplier’s or other like Liens arising in the ordinary course of business relating to obligations not overdue for a period of more than 60 days
or which are bonded or being contested in good faith by appropriate proceedings; (h) pledges or deposits in connection with workers’ compensation laws or similar legislation or to secure public or statutory obligations; (i) Liens or
deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; (j) easements, rights of
way, restrictions and other encumbrances incurred which, in the aggregate, do not materially interfere with the ordinary conduct of business; (k) restrictions by Governmental Authorities on the operations, business or assets of the Borrower or
its Subsidiaries that are customary in the Borrower’s and its Subsidiaries’ businesses; (l) sales of accounts receivable pursuant to, and Liens existing or deemed to exist in connection with, any Securitization Transactions,
provided that the aggregate amount of all such Securitization Transactions shall not at any time exceed $150,000,000; and (m) other Liens securing Indebtedness in an aggregate principal amount, when aggregated, without duplication, with
the amount of Indebtedness of Subsidiaries outstanding pursuant to Section 6.08(iii), not to exceed $200,000,000 at any one time outstanding; provided that the Borrower or any Subsidiary may create, incur, assume or suffer to exist other
Liens (in addition to Liens excepted by the foregoing clauses (a) through (m)) on its assets so long as (i) such Liens equally and ratably secure the Obligations pursuant to documentation in form and substance reasonably satisfactory to
the Administrative Agent and (ii) at the time of any incurrence of Indebtedness secured by 
  

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Liens in reliance on this proviso, the aggregate principal amount of all such Indebtedness incurred in reliance on this proviso (including the Obligations), when aggregated, without duplication,
with the amount of Indebtedness of Subsidiaries outstanding pursuant to Section 6.08 (other than clauses (i) through (iv) of Section 6.08), shall not exceed the Maximum Priority Amount at such time. 

SECTION 6.02 Ownership of the Principal Subsidiaries. Sell, assign, pledge, or otherwise transfer or dispose of any shares of
common stock, voting stock, or stock convertible into voting or common stock of any Principal Subsidiary, except (a) to another Subsidiary or (b) in connection with an Asset Exchange; provided that the Borrower may pledge any shares
of common stock, voting stock, or stock convertible into voting or common stock of any Principal Subsidiary so long as such pledge equally and ratably secures the Obligations pursuant to documentation in form and substance reasonably satisfactory to
the Administrative Agent. 
 SECTION 6.03 Asset Sales. Except in connection with an Asset Exchange, sell or permit any
Principal Subsidiary to sell, assign, or otherwise dispose of telecommunications assets (whether in one transaction or a series of transactions), if the net, after-tax proceeds thereof are used by the Borrower or any Subsidiary to prepay (other than
a mandatory prepayment in accordance with the terms of the applicable governing documents, including pursuant to any put provision) Indebtedness incurred after the date hereof which Indebtedness has a maturity later than the Commitment Termination
Date (other than bridge or other financings incurred in connection with an asset purchase or sale, including acquisition indebtedness or indebtedness of an acquired entity or indebtedness incurred to refinance indebtedness outstanding as of the date
hereof). 
 SECTION 6.04 Mergers. Merge or consolidate with, or sell, assign, lease, or otherwise dispose of (whether in
one transaction or a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired), except in connection with an Asset Exchange, to any Person, or permit any Principal Subsidiary to do so, except that any
Subsidiary may merge into or, subject to Section 6.03, transfer assets to the Borrower or any other Subsidiary and the Borrower may merge with any Person; provided that, immediately thereafter and after giving effect thereto, no event
shall occur or be continuing which constitutes an Event of Default or a Default and, in the case of any such merger to which the Borrower is a party, either the Borrower is the surviving corporation or the surviving entity (if not the Borrower) has
a consolidated net worth (as determined in accordance with GAAP) immediately subsequent to such merger at least equal to the Consolidated Net Worth of the Borrower immediately prior to such merger and expressly assumes the obligations of the
Borrower hereunder; provided that, notwithstanding the foregoing, the Borrower and any of the Principal Subsidiaries may sell assets in the ordinary course of its business and may sell or otherwise dispose of worn out or obsolete equipment on
a basis consistent with good business practices. 
 SECTION 6.05 Restrictions on Dividends. 

(a) Enter into or permit any Principal Subsidiary to enter into, any contract or agreement (other than with a governmental regulatory
authority having jurisdiction over the Borrower or such Principal Subsidiary) restricting the ability of such Principal Subsidiary to pay dividends or make distributions to the Borrower in any manner that would impair the ability of the Borrower to
meet its present and future obligations hereunder. 
 (b) In the case of the Borrower only, declare or make, directly or
indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, in each case if any Event of Default has occurred and is continuing at the time of such action or will result therefrom (but excluding the payment of
dividends declared and announced by the Board of Directors at a time when no Event of Default existed). 
  

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 SECTION 6.06 Transactions with Affiliates. Except in connection with an Asset
Exchange, sell or transfer any property or assets to, or purchase or acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates (or permit any of its Subsidiaries to do any of the foregoing),
except that as long as no Default or Event of Default shall have occurred and be continuing, the Borrower or any Subsidiary may engage in any of the foregoing transactions (i) in the ordinary course of business at prices and on terms and
conditions not less favorable to the Borrower or such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties, (ii) as otherwise may be required by any Federal or state Governmental Authority, (iii) so
long as such transactions are not materially disadvantageous to the Borrower or (iv) so long as such transactions are solely among the Borrower and one or more of its Subsidiaries. 

SECTION 6.07 Financial Ratio. Permit the Leverage Ratio as of the last day of any fiscal quarter to be greater than 4.5 to 1.0.

 SECTION 6.08 Subsidiary Indebtedness. Permit any Subsidiary to enter into, directly or indirectly, issue, incur,
assume or Guarantee any Indebtedness unless (a) the Obligations are Guaranteed by such Subsidiary on a pari passu basis pursuant to documentation in form and substance reasonably satisfactory to the Administrative Agent and (b) at the time
of any incurrence of such Indebtedness, the aggregate principal amount of such Indebtedness of Subsidiaries (including any Guarantee of the Obligations but excluding Indebtedness permitted by clauses (i) through (iv) below), when
aggregated with the principal amount of Indebtedness secured by Liens in reliance on the final proviso to Section 6.01, shall not exceed the Maximum Priority Amount at such time, except (i) Indebtedness in effect at the time such
Subsidiary becomes a Subsidiary of the Borrower, so long as such Indebtedness was not entered into solely in contemplation of such Person becoming a Subsidiary of the Borrower (and any refinancing, refunding, renewal or extension of such
Indebtedness that does not increase the principal amount thereof except by the amount of accrued and unpaid interest and premium thereon and reasonable fees and expenses in connection with such refinancing, refunding, renewal or extension),
(ii) any Indebtedness in effect as of the Effective Date that is listed on Schedule 2 (and any refinancing, refunding, renewal or extension of such Indebtedness that does not increase the principal amount thereof except by the amount of accrued
and unpaid interest and premium thereon and reasonable fees and expenses in connection with such refinancing, refunding, renewal or extension), (iii) additional Indebtedness, when aggregated, without duplication, with the principal amount of
Indebtedness secured by Liens in reliance on Section 6.01(m), not to exceed $200,000,000 at any one time outstanding and (iv) Indebtedness of a Subsidiary to the Borrower or another Subsidiary. 

ARTICLE VII  

EVENTS OF DEFAULT 

SECTION 7.01 Events of Default. If any of the following events (“Events of Default”) shall occur: 

(a) the Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC
Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; 

(b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred
to in clause (a) of this Article) payable under this Agreement or under any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five Business Days; 

 

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 (c) any representation or warranty made or deemed made by or on behalf of
the Borrower or any of its Subsidiaries in or in connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof, or any waiver hereunder or thereunder, or in any report, certificate, financial statement
or other document furnished pursuant to or in connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof, or any waiver hereunder or thereunder, shall prove to have been incorrect when made or deemed
made in any material respect; 
 (d) the Borrower shall fail to observe or perform any covenant, condition or
agreement contained in Section 5.01(f) or Section 5.05 or in Article VI; 
 (e) the Borrower shall
fail to observe or perform any covenant, condition or agreement contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article) or any other Loan Document and such failure shall continue unremedied
for a period of 30 days after the earlier to occur of (i) the Borrower obtaining knowledge thereof and (ii) the date that notice thereof shall have been given to the Borrower by the Administrative Agent or any Lender; 

(f) the Borrower or any Principal Subsidiary shall fail to make any payment of any amount in respect of Indebtedness in an
aggregate principal amount of $50,000,000 or more, when and as the same shall become due and payable after giving effect to any applicable grace periods; 

(g) any breach by the Borrower or any of its Principal Subsidiaries of any agreement or instrument relating to
Indebtedness occurs that results in any Indebtedness of any one or more of the Borrower and its Principal Subsidiaries in an aggregate principal amount exceeding $50,000,000 becoming due prior to its scheduled maturity or that enables or permits the
holder or holders of any such Indebtedness or any trustee or agent on its or their behalf to cause any such Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity, in
each case after giving effect to any applicable grace period; or, as a result of any such breach, any such Indebtedness shall be required to be prepaid (other than by a regularly scheduled required prepayment, pursuant to any put right (or similar
right) of the holder thereof, or by the exercise by the Borrower or any Principal Subsidiary of its right to make a voluntary prepayment) in whole or in part prior to its stated maturity; or there occurs under any Swap Contract an Early Termination
Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which the Borrower or any Principal Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination
Event (as defined in such Swap Contract) under such Swap Contract as to which the Borrower or any Principal Subsidiary is an Affected Party (as defined in such Swap Contract) and, in either event, the Swap Termination Value owed by the Borrower or
such Subsidiary as a result thereof is greater than $50,000,000; provided that this clause (g) shall not apply to any Indebtedness that becomes due as a result of a voluntary redemption or repayment of such Indebtedness effected in
accordance with the terms of the agreement governing such Indebtedness and which is not prohibited by this Agreement; 

(h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent
jurisdiction seeking (i) liquidation, reorganization or other relief in 
  

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respect of the Borrower or any of its Principal Subsidiaries or its debts, or of a substantial part of its assets, under any Federal or state bankruptcy, insolvency, receivership or similar law
now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any of its Principal Subsidiaries or for a substantial part of its assets, and, in any such
case, such proceeding or petition shall continue undismissed for a period of 60 or more days or an order or decree approving or ordering any of the foregoing shall be entered; 

(i) the Borrower or any of its Principal Subsidiaries shall (i) voluntarily commence any proceeding or file any
petition seeking liquidation, reorganization or other relief under any Federal or state bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any
of its Principal Subsidiaries or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors
or (vi) take any action for the purpose of effecting any of the foregoing; 
 (j) one or more judgments for
the payment of money in an aggregate amount in excess of $50,000,000 shall be rendered against the Borrower or any of its Subsidiaries or any combination thereof and the same shall remain undischarged for a period of 30 consecutive days during which
execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any of its Subsidiaries to enforce any such judgment; 

(k) a Plan shall fail to maintain the minimum funding standard required by Section 412(a) of the Code for any plan
year or a waiver of such standard is sought or granted under Section 412(c), or a Plan is or shall have been terminated or the subject of termination proceedings under ERISA, or the Borrower or an ERISA Affiliate has incurred a liability to or
on account of a Plan under Section 4062, 4063, 4064, 4201 or 4204 of ERISA, and there shall result from any such event or events a Material Adverse Effect; or 

(l) a Change in Control shall occur; 

then, and in every such event (other than an event with respect to the Borrower described in clause (h) or (i) of this Section 7.01), and
at any time thereafter during the continuance of such event, the Administrative Agent at the request of the Required Lenders shall, by notice to the Borrower, take any or all of the following actions, at the same or different times:
(i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable
may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become
due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower, and (iii) require that the Borrower cash collaterize the LC Exposure pursuant to
Section 2.04(k); and in case of any event with respect to the Borrower described in clause (h) or (i) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with
accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall automatically become due and payable and the Borrower shall automatically be required to provide such cash collateral, without presentment, demand,
protest or other notice of any kind, all of which are hereby waived by the Borrower. 
  

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 ARTICLE VIII  

AGENCY 

SECTION 8.01 Administrative Agent. 

Each of the Lenders and the Issuing Bank hereby irrevocably appoints JPMorgan Chase Bank, N.A. to act on its behalf as the Administrative
Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such
actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the Issuing Bank, and the Borrower shall not have rights as a third party beneficiary of
any of such provisions except with respect to a successor Administrative Agent. 
 The Person serving as the Administrative
Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless
otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the
financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to
account therefor to the Lenders. 
 The Administrative Agent shall not have any duties or obligations except those expressly set
forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: 

(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is
continuing; 
 (b) shall not have any duty to take any discretionary action or exercise any discretionary powers,
except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the
Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the
Administrative Agent to liability or that is contrary to any Loan Document or applicable law; and 
 (c) shall
not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or
obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. 
 The Administrative Agent shall not be
liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith
shall be necessary, under the 
  

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circumstances as provided in Section 9.02) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of
any Default unless and until notice describing such Default is given to the Administrative Agent by the Borrower, a Lender or the Issuing Bank. 

The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any
other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the
Administrative Agent. 
 The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying
upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed,
sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for
relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the Issuing Bank, the Administrative Agent
may presume that such condition is satisfactory to such Lender or the Issuing Bank unless the Administrative Agent shall have received notice to the contrary from such Lender or the Issuing Bank prior to the making of such Loan or the issuance of
such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in
accordance with the advice of any such counsel, accountants or experts. 
 The Administrative Agent may perform any and all of
its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its
duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and
shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 

The Administrative Agent may at any time give notice of its resignation to the Lenders, the Issuing Bank and the Borrower. Upon receipt
of any such notice of resignation, the Required Lenders shall have the right to appoint a successor, which shall be a bank with an office in New York, New York, or an Affiliate of any such bank with an office in New York, New York and which shall be
reasonably acceptable to the Borrower. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then
the retiring Administrative Agent may on behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent meeting the qualifications set forth above, provided that if the Administrative Agent shall notify the Borrower and
the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (1) the retiring Administrative Agent shall be discharged from its duties

  

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and obligations hereunder and under the other Loan Documents and (2) all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall
instead be made by or to each Lender and the Issuing Bank directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this paragraph. Upon the acceptance of a successor’s appointment as
Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from
all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this paragraph). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those
payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 9.03
shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was
acting as Administrative Agent. 
 Each Lender and the Issuing Bank acknowledges that it has, independently and without reliance
upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the
Issuing Bank also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem
appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

Except as otherwise provided in Section 9.02(b) with respect to this Agreement, the Administrative Agent may, with the prior consent
of the Required Lenders (but not otherwise), consent to any modification, supplement or waiver under any of the Loan Documents. 

To the extent required by any applicable law, the Administrative Agent may withhold from any payment to any Lender an amount equivalent
to any applicable withholding tax. Without limiting or expanding the provisions of Section 2.14, each Lender (including any Issuing Bank for purposes of this paragraph) shall, and does hereby, indemnify the Administrative Agent against, and
shall make payable in respect thereof within 30 days after demand therefor, any and all Taxes and any and all related losses, claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent)
incurred by or asserted against the Administrative Agent by the Internal Revenue Service or any other Governmental Authority as a result of the failure of the Administrative Agent to properly withhold tax from amounts paid to or for the account of
any Lender for any reason (including, without limitation, because the appropriate form was not delivered or not properly executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the
exemption from, or reduction of withholding tax ineffective). A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes
the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document against any amount due the Administrative Agent under this paragraph. The agreements in this paragraph
shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations.

  

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 SECTION 8.02 Bookrunners, Etc.. Anything herein to the contrary notwithstanding, none
of the bookrunners, arrangers, syndication agents or documentation agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as
applicable, as the Administrative Agent, a Lender or the Issuing Bank hereunder. 
 ARTICLE IX 

MISCELLANEOUS 

SECTION 9.01 Notices. 

(a) Notices Generally. Except as provided in paragraph (b) below, all notices, requests, demands and other communications
provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopier, as follows: 

(i) if to the Borrower, to it at Frontier Communications Corporation, 3 High Ridge Park, Stamford, Connecticut 06905,
Attention of Treasurer (Telecopier No. 203-614-4602; Telephone No. 203-614-5708; Electronic Mail: david.whitehouse@frontiercorp.com), with a copy to Frontier Communications Corporation, 3 High Ridge Park, Stamford, Connecticut 06905,
Attention of General Counsel (Telecopier No. 203-614-4651; Telephone No. 203-614-5600; Electronic Mail: hilary.glassman@frontiercorp.com); 

(ii) if to the Administrative Agent, to JPMorgan Chase Bank, N. A., Loan and Agency Services Group, 1111 Fannin, 10th
Floor, Houston, Texas 77002, Attention of Sofia Basraoui (Telecopier No. 713-750-2878; Telephone No. 713-750-3609; Electronic Mail: sofia.x.basraoui@jpmorgan.com); 

(iii) if to JPMorgan Chase Bank, N.A., as Issuing Bank, to JPMorgan Chase Bank, N. A., 10420 Highland Manor Drive, Floor
4, Tampa, FL 33610, Attention of Letter of Credit Department (Telecopier No. 813-432-5162; Telephone No. 813-432-6339; Electronic Mail: James.Alonzo@jpmchase.com); and 

(iv) if to a Lender, to it at its address (or telecopier number) set forth in its Administrative Questionnaire.

 Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when
received; notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for
the recipient). Notices delivered through electronic communications to the extent provided in paragraph (b) below, shall be effective as provided in said paragraph (b). 

(b) Electronic Communications. Notices and other communications to the Lenders and the Issuing Bank hereunder may be delivered or
furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender or the Issuing Bank
pursuant to Article II if such Lender or the Issuing Bank, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower
may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or
communications. 
  

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 Unless the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other
written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next
business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing
clause (i) of notification that such notice or communication is available and identifying the website address therefor. 

(c) Change of Address, Etc. Any party hereto may change its address or telecopier number for notices and other communications
hereunder by notice to the other parties hereto (or, in the case of any such change by a Lender, by notice to the Borrower and the Administrative Agent). 

SECTION 9.02 Waivers; Amendments. 

(a) No Deemed Waivers; Remedies Cumulative. No failure or delay by the Administrative Agent, the Issuing Bank or any Lender in
exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Bank and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would
otherwise have. No waiver of any provision of this Agreement or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or
consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default,
regardless of whether the Administrative Agent, any Lender or the Issuing Bank may have had notice or knowledge of such Default at the time. 

(b) Amendments. Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement
or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall 

(i) increase the Commitment of any Lender without the written consent of such Lender, 

(ii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees
payable hereunder, without the written consent of each Lender adversely affected thereby, 
 (iii) postpone the
scheduled date of payment of the principal amount of any Loan or LC Disbursement, or any interest thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any
Commitment, without the written consent of each Lender affected thereby, 
  

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 (iv) change Section 2.15(b) or (c) in a manner that would alter
the pro rata sharing of payments required thereby (other than to extend the Commitment Termination Date applicable to the Loans and Commitments of consenting Lenders and to compensate such Lenders for consenting to such extension; provided
that (x) no amendment permitted by this parenthetical shall reduce the amount of or defer any payment of principal, interest or fees to non-extending Lenders or otherwise adversely affect the rights of non-extending Lenders under this Agreement
and (y) the opportunity to agree to such extension and receive such compensation shall be offered on equal terms to all the Lenders), without the written consent of each Lender, or 

(v) change any of the provisions of this Section or the percentage in the definition of the term “Required
Lenders” or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender;

 and provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent
or the Issuing Bank hereunder (including pursuant to Section 2.17) without the prior written consent of the Administrative Agent or the Issuing Bank, as the case may be. 

SECTION 9.03 Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent
and its Affiliates (including the reasonable fees, charges and disbursements of a single counsel selected by the Administrative Agent), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation,
execution, delivery and administration of this Agreement and the other Loan Documents (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Bank
in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, the Issuing Bank or any Lender (including
the fees, charges and disbursements of a single counsel and, if necessary, a single local counsel in each applicable jurisdiction for the Administrative Agent, the Issuing Bank and the Lenders, in each case, selected by the Administrative Agent)
(A) in connection with any amendments, modifications or waivers of the provisions of this Agreement or of the other Loan Documents or (B) in connection with the enforcement or protection of its rights (x) in connection with this
Agreement and the other Loan Documents, including its rights under this Section, or (y) in connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout,
restructuring or negotiations in respect of such Loans or Letters of Credit. 
 (b) Indemnification by the Borrower. The
Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Joint Lead Arranger, the Syndication Agent, each Lender and the Issuing Bank, and each Related Party of any of the foregoing Persons (each such Person being called
an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the reasonable fees, charges and disbursements of a single counsel and, if necessary,
a single local counsel in each applicable jurisdiction for the Indemnitees, in each case, selected by the Administrative Agent (plus one additional counsel in the event of a conflict)), incurred by any Indemnitee or asserted against any Indemnitee
by any third party or by the Borrower arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance
by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the Transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or 

 

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the use or proposed use of the proceeds therefrom (including any refusal by the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with
such demand do not strictly comply with the terms of such Letter of Credit) or (iii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory,
whether brought by a third party or by the Borrower, and regardless of whether any Indemnitee is a party thereto, provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee. This Section 9.03(b) shall not apply
with respect to Taxes other than any Taxes that represent losses or damages arising from any non-Tax claim. 
 (c)
Reimbursement by Lenders. To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent
thereof) or the Issuing Bank or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) or the Issuing Bank or such Related Party, as the case may be, such Lender’s
Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related
expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent) or the Issuing Bank in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent
(or any such sub-agent) or the Issuing Bank in connection with such capacity. The obligations of the Lenders under this paragraph (c) are several obligations. 

(d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law, the Borrower shall not assert, and
hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any
other Loan Document or any agreement or instrument contemplated hereby or thereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in paragraph (b)
above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this
Agreement or the other Loan Documents or the transactions contemplated hereby or thereby. 
 (e) Payments. All amounts
due under this Section shall be payable promptly after demand therefor. 
 SECTION 9.04 Successors and Assigns.

 (a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative
Agent and each Lender, and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of paragraph (b) of this Section, (ii) by way of
participation in accordance with the provisions of paragraph (d) of this Section or (iii) by way of pledge or assignment of a security interest subject to the restrictions of paragraph (f) of this Section (and any other attempted
assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby, the Issuing Bank, Participants to the extent provided in 
  

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paragraph (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing Bank and the Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement. 
 (b) Assignments by Lenders. Any Lender may at
any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) to any Person; provided that any such assignment
shall be subject to the following conditions: 
 (i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at
the time owing to it or in the case of an assignment to a Lender or an Affiliate of a Lender, no minimum amount need be assigned; and 

(B) in any case not described in paragraph (b)(i)(A) of this Section, the aggregate amount of the Commitment (which
for this purpose includes Loans outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment (determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date) shall not be less than $10,000,000, unless each of
the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed). 

(ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all
the assigning Lender’s rights and obligations under this Agreement with respect to the Loan or the Commitment assigned. 

(iii) Required Consents. No consent shall be required for any assignment except to the extent required by
paragraph (b)(i)(B) of this Section and, in addition: 
 (A) the consent of the Borrower (such consent not
to be unreasonably withheld or delayed) shall be required unless (x) an Event of Default has occurred and is continuing at the time of such assignment or (y) such assignment is to a Lender or an Affiliate of a Lender; 

(B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required
except in the case of an assignment by a Lender to an Affiliate of such Lender; and 
 (C) the consent of the
Issuing Bank shall be required for any assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding). 

(iv) Assignment and Assumption. The parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500, and the assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

 

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 (v) No Assignment to the Borrower. No such assignment shall be made
to the Borrower or any of the Borrower’s Affiliates or Subsidiaries. 
 (vi) No Assignment to Natural
Persons. No such assignment shall be made to a natural person. 
 Subject to acceptance and recording thereof by the Administrative Agent
pursuant to paragraph (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment
and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this
Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of
Section 2.13 and Section 9.03 with respect to facts and circumstances occurring prior to the effective date of such assignment. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with
this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section. 

(c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at one of its
offices in New York, New York a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of the Loans owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from
time to time upon reasonable prior notice. 
 (d) Participations. Any Lender may at any time, without the consent of, or
notice to, the Borrower or the Administrative Agent, sell participations to any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) in all or a portion of such Lender’s rights and/or
obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall
remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the Lenders and the Issuing Bank shall continue to deal solely and directly with such Lender in
connection with such Lender’s rights and obligations under this Agreement. 
 Any agreement or instrument pursuant to which
a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in Section 9.02(b) that affects such Participant. Subject to paragraph (e) of this Section,
the Borrower agrees that each Participant shall be entitled to the benefits of Section 2.13 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent
permitted by law, each Participant also shall be entitled to the benefits of Sections 2.12, 2.14 and 9.08 (subject to the requirements, including the requirements described in Section 2.14(e), and limitations thereof) as though it were a
Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a 

 

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register on which it enters the name and address of each Participant and the principal and interest amount of each Participant’s interest in the Loans held by it (the “Participant
Register”). The entries in the Participant Register shall be conclusive, and such Lender shall treat each person whose name is recorded in the Participant Register as the owner of the participation in question for all purposes of this
Agreement, notwithstanding notice to the contrary. 
 (e) Limitations upon Participant Rights. A Participant shall not be
entitled to receive any greater payment under Section 2.12 and Section 2.14 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to
such Participant is made with the Borrower’s prior written consent (not to be unreasonably withheld or delayed). 
 (f)
Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a
Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

SECTION 9.05 Survival. All covenants, agreements, representations and warranties made by the Borrower herein and in the
certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the making of
any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, the Issuing Bank or any Lender may have had notice or knowledge of any
Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under
this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of Section 2.12, Section 2.13, Section 2.14 and Section 9.03 shall
survive and remain in full force and effect regardless of the consummation of the Transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination of this
Agreement or any provision hereof. 
 SECTION 9.06 Counterparts; Integration; Effectiveness; Electronic Execution.

 (a) Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties
hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents, and any separate letter agreements with respect to
fees payable to the Administrative Agent, constitute the entire contract between and among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject
matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken
together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page to this Agreement by electronic transmission shall be effective as delivery of a manually executed counterpart of this
Agreement. 
 (b) Electronic Execution of Assignments. The words “execution”, “signed”,
“signature” and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal

  

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effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

SECTION 9.07 Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in
a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION 9.08 Right of Setoff.
If an Event of Default shall have occurred and be continuing, each Lender, the Issuing Bank and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off
and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the Issuing Bank or any such Affiliate to
or for the credit or the account of the Borrower against any and all of the obligations of the Borrower now or hereafter existing under this Agreement or any other Loan Document to such Lender or the Issuing Bank, irrespective of whether or not such
Lender or the Issuing Bank shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower may be contingent or unmatured or are owed to a branch or office of such Lender or the Issuing Bank
different from the branch or office holding such deposit or obligated on such indebtedness. The rights of each Lender, the Issuing Bank and their respective Affiliates under this Section are in addition to other rights and remedies (including other
rights of setoff) that such Lender, the Issuing Bank or their respective Affiliates may have. Each Lender and the Issuing Bank agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application, provided
that the failure to give such notice shall not affect the validity of such setoff and application. 
 SECTION 9.09 Governing
Law; Jurisdiction; Etc. 
 (a) Governing Law. This Agreement shall be governed by, and construed in accordance with,
the law of the State of New York. 
 (b) Submission to Jurisdiction. The Borrower irrevocably and unconditionally
submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court
from any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto irrevocably and unconditionally agrees that all
claims in respect of any such action or proceeding may be heard and determined in such New York State court or, to the fullest extent permitted by applicable law, in such Federal court. Each of the parties hereto agrees that a final judgment in any
such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or in any other Loan Document shall affect any right that the
Administrative Agent, the Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against the Borrower or its properties in the courts of any jurisdiction. 

(c) Waiver of Venue. The Borrower irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any
objection that it may now or hereafter have to the laying of 
  

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venue of any action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section. Each of the parties
hereto irrevocably waives, to the fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d) Service of Process. Each party hereto irrevocably consents to service of process in the manner provided for notices in
Section 9.01. Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable law. 

SECTION 9.10 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR
ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

SECTION 9.11 Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

SECTION 9.12 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent, the Issuing Bank and the Lenders
agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents,
advisors and other representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent
requested by any regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority, such as the National Association of Insurance Commissioners) (and, in the case of any non-ordinary course disclosure under this
clause (b), the disclosing party shall use its reasonable efforts to inform the Borrower thereof prior to any such disclosure and, in any event, shall promptly inform the Borrower thereof, in each case to the extent legally permitted to do so),
(c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process (in which case the disclosing party shall use its reasonable efforts to inform the Borrower thereof prior to any such disclosure and, in
any event, shall promptly inform the Borrower thereof, in each case to the extent legally permitted to do so), (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or
any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to
(i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative
transaction relating to the Borrower and its obligations, (g) with the consent of the Borrower or (h) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes
available to the Administrative Agent, the Issuing Bank or any Lender or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower. 

 

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 For purposes of this Section, “Information” means all information received
from the Borrower or any of its Subsidiaries relating to the Borrower or any of its Subsidiaries or any of their respective businesses, other than any such information that is available to the Administrative Agent, the Issuing Bank or any Lender on
a nonconfidential basis prior to disclosure by the Borrower or any of its Subsidiaries; provided that, in the case of information received from the Borrower or any of its Subsidiaries after the date hereof, such information is clearly
identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the
same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

SECTION 9.13 USA PATRIOT Act. Each Lender hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT
Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), such Lender may be required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower
and other information that will allow such Lender to identify the Borrower in accordance with said Act. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the day and year first above written. 
  

					
	FRONTIER COMMUNICATIONS CORPORATION
		
	By:	 	 /s/ Donald R. Shassian

		 	Name:	 	Donald R. Shassian
		 	Title:	 	Chief Financial Officer
	
	JPMORGAN CHASE BANK, N.A.,
		 	as Administrative Agent
		
	By:	 	 /s/ John G. Kowalczuk

		 	Name:	 	John G. Kowalczuk
		 	Title:	 	Executive Director

					
	LENDERS
	
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /s/ John G. Kowalczuk

		 	Name:	 	John G. Kowalczuk
		 	Title:	 	Executive Director

					
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
		
	By:	 	 /s/ Judith E. Smith

		 	Name:	 	Judith E. Smith
		 	Title:	 	Managing Director
		
	By:	 	 /s/ Kevin Buddhdew

		 	Name:	 	Kevin Buddhdew
		 	Title:	 	Associate

					
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Prayes Majmudar

		 	Name:	 	Prayes Majmudar
		 	Title:	 	Vice President

					
	BARCLAYS BANK PLC
		
	By:	 	 /s/ Doug Bernegger

		 	Name:	 	Doug Bernegger
		 	Title:	 	Director

  

					
	CITIBANK, N.A.
		
	By:	 	 /s/ Laura Neenam

		 	Name:	 	Laura Neenam
		 	Title:	 	Vice President

  

					
	DEUTSCHE BANK AG NEW YORK BRANCH
		
	By:	 	 /s/ Andreas Neumeier

		 	Name:	 	Andreas Neumeier
		 	Title:	 	Managing Director
		
	By:	 	 /s/ Yvonna Tilden

		 	Name:	 	Yvonna Tilden
		 	Title:	 	Director

					
	MORGAN STANLEY SENIOR FUNDING, INC.
		
	By:	 	 /s/ Subhalakshmi Ghosh-Kohli

		 	Name:	 	Subhalakshmi Ghosh-Kohli
		 	Title:	 	Vice President

  

					
	MORGAN STANLEY BANK, N.A.
		
	By:	 	 /s/ Sherrese A. Clarke

		 	Name:	 	Sherrese A. Clarke
		 	Title:	 	Authorized Signatory

					
	THE ROYAL BANK OF SCOTLAND PLC
		
	By:	 	 /s/ Alex Daw

		 	Name:	 	Alex Daw
		 	Title:	 	Vice President

  

 SCHEDULE 1 

Commitments 
  

				
	 Name of Lender
	  	Commitment ($)
		
	 JPMorgan Chase Bank, N.A.
	  	$	109,756,097.59
	 Credit Suisse AG, Cayman Islands Branch
	  	$	91,463,414.63
	 Bank of America, N.A.
	  	$	91,463,414.63
	 Barclays Bank PLC
	  	$	91,463,414.63
	 Citibank, N.A.
	  	$	91,463,414.63
	 Deutsche Bank AG New York Branch
	  	$	91,463,414.63
	 Morgan Stanley Senior Funding, Inc.
	  	$	41,463,414.63
	 Morgan Stanley Bank, N.A.
	  	$	50,000,000.00
	 The Royal Bank of Scotland PLC
	  	$	91,463,414.63
		
	 Total
	  	$	750,000,000.00
		  	 	 

 SCHEDULE 1 TO CREDIT
AGREEMENT 

 SCHEDULE 2 

Subsidiary Indebtedness 

As of December 31, 2009 
  

			
	 Frontier Indebtedness
	  	
	 Citizens Rural Company Rural
	  	
	 FFB 5.823% due June 30, 2010
	  	3,434,842
	 FFB 6.052% due Jan. 3, 2028
	  	3,526,118
	 FFB 6.206% due Jan. 3, 2028
	  	6,836,072
		
	 Ogden Telephone
	  	
	 FFB 5.999% due Jan. 3, 2012
	  	533,780
	 FFB 5.999% due Jan. 3, 2012
	  	506,433
	 FFB 6.100% due Dec. 31, 2013
	  	209,835
	 FFB 6.179% due Dec. 31, 2015
	  	553,507
		
	 Citizens Telecommunications Company of Oregon
	  	
	 8.05% Senior Notes due Dec. 1, 2012
	  	8,000,000
		
	 Navajo Communications Company
	  	
	 8.05% Senior Notes due Dec. 1, 2013
	  	15,000,000
		
	 Citizens Telecommunications Company of Nevada
	  	
	 8.05% Senior Notes due Dec. 1, 2014
	  	13,000,000
		
	 Total Frontier Subsidiary Indebtedness
	  	51,600,587
		
	 Spinco Assumed Indebtedness
	  	
	 Verizon North Inc.
	  	
	 6.73% Debentures, Series G, due Feb. 15, 2028
	  	200,000,000
		
	 Verizon West Virginia Inc.
	  	
	 8.40% Debentures due Oct. 15, 2029
	  	50,000,000
		
	 Miscellaneous Capitalized Leases
	  	5,000,000
		
	 Total Assumed Spinco Subsidiary Indebtedness
	  	255,000,000
		
	 Total Subsidiary Indebtedness
	  	306,600,587

SCHEDULE 2 TO CREDIT AGREEMENT 

 EXHIBIT A 

[Form of Assignment and Assumption] 

ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date
set forth below and is entered into by and between
[the][each]1 Assignor identified in item 1 below
([the][each, an] “Assignor”) and
[the][each]2 Assignee identified in item 2 below
([the][each, an] “Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors][the
Assignees]3 hereunder are several and not
joint.]4 Capitalized terms used but not defined herein
shall have the meanings given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by [the][each] Assignee. The Standard Terms and Conditions set
forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 

For an agreed consideration, [the][each] Assignor hereby irrevocably sells and assigns to [the Assignee][the respective Assignees], and
[the][each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’] rights and obligations in [its capacity as a Lender][their respective capacities as Lenders] under the Credit Agreement and any other
documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of [the Assignor][the respective Assignors] under the respective
facilities identified below (including without limitation any letters of credit included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of [the
Assignor (in its capacity as a Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments
delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including without limitation contract claims, tort claims, malpractice claims, statutory claims and all other claims at
law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by [the][any] Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above
being referred to herein collectively as [the][an] “Assigned Interest”). Each such sale and assignment is without recourse to [the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation
or warranty by [the][any] Assignor. 
  

	1
	 For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a single Assignor, choose the first
bracketed language. If the assignment is from multiple Assignors, choose the second bracketed language. 

	2
	 For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first
bracketed language. If the assignment is to multiple Assignees, choose the second bracketed language. 

	3
	 Select as appropriate. 

	4
	 Include bracketed language if there are either multiple Assignors or multiple Assignees. 

ASSIGNMENT AND ASSUMPTION 

							
	 1.      Assignor[s]:
	 	  
	 		 	
				
		 	  
	 		 	
				
	 2.      Assignee[s]:
	 	  
	 		 	
				
		 	  
	 		 	
		 	 [for each Assignee, indicate Affiliate of [identify Lender]

				
	 3.      Borrower:
	 	  
	 		 	
		
	 4.      Administrative Agent:
	 	 JPMorgan Chase Bank, N. A., as the administrative agent under the Credit Agreement

		
	 5.      Credit Agreement:
	 	 The Credit Agreement dated as of March 23, 2010 between Frontier Communications Corporation, the Lenders party thereto and JPMorgan
Chase Bank, N. A., as Administrative Agent for the Lenders

				
	 6.      Assigned Interest[s]:
	 		 		 	

  

													
	
Assignor[s]5
	  	
Assignee[s]6
	  	
Facility
Assigned7
	  	 Aggregate Amount
of

Commitment/Loans
for all
Lenders8
	  	 Amount
of
Commitment/Loans
Assigned8
	  	 Percentage
Assigned
of
Commitment/Loans9
	  	 CUSIP

Number

							
		  		  		  	$	  	$	  	%	  	
							
		  		  		  	$	  	$	  	%	  	
							
		  		  		  	$	  	$	  	%	  	

	[7.	 Trade
Date:                                        
                        
]10 

 

	5
	 List each Assignor, as appropriate. 

	6
	 List each Assignee, as appropriate. 

	7
	 Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment (e.g.
“Revolving Credit Commitment”, “Term Loan Commitment”, etc.). 

	8
	 Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date.

	9
	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

	10
	 To be completed if the Assignor(s) and the Assignee(s) intend that the minimum assignment amount is to be determined as of the Trade Date.

 ASSIGNMENT AND ASSUMPTION 

 

 -2- 

 Effective Date:
                               , 20         [TO BE
INSERTED BY THE ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The
terms set forth in this Assignment and Assumption are hereby agreed to: 
  

			
	
ASSIGNOR[S]11

	 [NAME OF ASSIGNOR]

		
	By:	 	  

		 	 Title:

	
	 [NAME OF ASSIGNOR]

		
	By:	 	  

		 	 Title:

	
	
ASSIGNEE[S]12

	 [NAME OF ASSIGNEE]

		
	By:	 	  

		 	 Name:

		 	 Title:

		
	By:	 	  

		 	 Title:

	
	 [NAME OF ASSIGNEE]

		
	By:	 	  

		 	 Title:

 

	11
	 Add additional signature blocks as needed. 

	12
	 Add additional signature blocks as needed. 

ASSIGNMENT AND ASSUMPTION 

 

 -3- 

			
	[Consented to and]13
Accepted:
	 JPMORGAN CHASE BANK, N. A.,
as Administrative Agent

		
	By:	 	  

		 	 Title:

	
	 [Consented
to:]14

	
	 [NAME OF RELEVANT PARTY]

		
	By:	 	  

		 	 Title:

 

	13
	 To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. 

	14	 To be added only
if the consent of the Borrower and/or other parties (e.g. Issuing Bank) is required by the terms of the Credit Agreement. 

ASSIGNMENT AND ASSUMPTION 

 

 -4- 

 ANNEX 1 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 

1. Representations and Warranties. 

1.1 Assignor[s]. [The][Each] Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of [the][the
relevant] Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this
Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any
other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or
Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan
Document. 
 1.2. Assignee[s]. [The][Each] Assignee (a) represents and warrants that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all the requirements to
be an assignee under Section     (b)(iii), (v) and (vi) of the Credit Agreement (subject to such consents, if any, as may be required under Section     (b)(iii) of the Credit Agreement),
(iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant] Assigned Interest, shall have the obligations of a Lender thereunder,
(iv) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in
acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 5.02 thereof,
as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned Interest, (vi) it has, independently
and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase
[the][such] Assigned Interest, and (vii) if it is a Foreign Lender, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by
[the][such] Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, [the][any] Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be
performed by it as a Lender. 
 2. Payments. From and after the Effective Date, the Administrative Agent shall make all
payments in respect of [the][each] Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignee whether such amounts have accrued prior to, on or after the Effective Date. The Assignor[s] and
the Assignee[s] shall make all appropriate adjustments in payments by the Administrative Agent for periods prior to the Effective Date or with respect to the making of this assignment directly between themselves. 

ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

 3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in
accordance with, the law of the State of New York. 
 ANNEX 1 TO ASSIGNMENT AND
ASSUMPTION 
  

 -2- 

 EXHIBIT B 

[Form of Opinion of General Counsel to the Borrower] 

[            ], 2010 

To JPMorgan Chase Bank, N. A., 
 as
Administrative Agent, and the Lenders party 
 to the Credit Agreement referred to below 

Ladies and Gentlemen: 
 I am
the General Counsel of Frontier Communications Corporation, a Delaware corporation (the “Borrower”), and have acted as counsel in connection with the Credit Agreement dated as of March 23, 2010 (the “Credit
Agreement”), among the Borrower, the financial institutions referred to as “Lenders” in the Credit Agreement (the “Lenders”) and JPMorgan Chase Bank, N. A., as administrative agent for the Lenders (the
“Administrative Agent”). This opinion is being delivered to you pursuant to Section 4.01(b) of the Credit Agreement. Capitalized terms used but not defined herein have the meanings assigned to them in the Credit Agreement.

 In that connection, I have examined, caused the examination of, or am otherwise familiar with, originals, or copies certified
or otherwise identified to my satisfaction, of such documents, corporate records and other instruments as I have deemed necessary or appropriate for purposes of this opinion, including: 

(i) the Credit Agreement; 

(ii) the Restated Certificate of Incorporation of the Borrower, as amended; 

(iii) the By-laws of the Borrower; and 

(iv) resolutions adopted by the Board of Directors of the Borrower on February 17, 2010. 

I have also relied, with respect to certain factual matters, on the representations and warranties of the Borrower contained in the Credit Agreement and
have assumed compliance by the Borrower with the terms of the Credit Agreement. 
 In rendering my opinion, I have assumed
(a) the due authorization, execution and delivery of the Credit Agreement by all parties thereto other than the Borrower and (b) that each party to the Credit Agreement (other than the Borrower) has the full power, authority and legal
right to enter into and perform its obligations under the Credit Agreement. Wherever the phrases “to my knowledge” or “known to me” are used in this opinion they refer to my actual knowledge and the actual knowledge of the
attorneys employed by the Borrower who work under my supervision and who were involved in the representation of the Borrower in connection with the transactions contemplated by the Credit Agreement. 

Based on the foregoing and subject to the qualifications hereinafter set forth, I am of the opinion as follows: 

1. The Borrower (a) is a corporation validly existing and in good standing under the laws of the State of Delaware, (b) has the
requisite power and authority to own its property and assets and to carry on its business as now conducted and (c) is qualified to do business in every jurisdiction where such qualification is required, except where the failure to qualify would
not have a Material Adverse Effect. 

 2. The execution and delivery by the Borrower of the Credit Agreement and the performance of
its obligations thereunder and under any notes requested pursuant to Section 2.08(f) thereof (the “Notes”), will not (a) violate any provision of law, statute, rule or regulation that I have, in the exercise of customary
professional diligence, recognized as applicable to the Borrower or its Subsidiaries or to transactions of the type contemplated by the Credit Agreement (including the Federal Communications Act of 1934, as amended, and the rules and regulations
promulgated thereunder), (b) violate the Restated Certificate of Incorporation, as amended, or the By-Laws of the Borrower, (c) violate, to my knowledge, any order of any court or of any other agent of government binding upon the Borrower,
(d) violate, be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under (i) any agreement or other instrument binding on the Borrower or by which the Borrower or any of its
properties or assets are or may be bound that was filed as an exhibit to the Annual Report on Form 10-K for the fiscal year ended December 31, 2009 filed by the Borrower with the Securities and Exchange Commission or (ii) any agreement or
other instrument evidencing indebtedness for borrowed money of the Borrower (collectively, the “Material Agreements”) and (e) will not result in the creation or imposition of any lien, charge or encumbrance of any nature
whatsoever upon any property or assets of the Borrower. In connection with the foregoing, I point out that certain of the Material Agreements are or may be governed by laws other than the laws of the State of New York. For purposes of the opinion
expressed in this paragraph, my opinion is based solely upon my understanding, or the understanding of lawyers working under my supervision, of the plain language of such Material Agreements, and I do not express any opinion as to the validity,
binding nature or enforceability of any such Material Agreement, and I do not assume any responsibility with respect to the effect on my opinion of any interpretation thereof inconsistent with such understanding. My opinion also does not extend to
compliance by the Borrower with any financial ratio or limitation in any Material Agreement expressed as a dollar amount (or an amount expressed in another currency). 

3. No authorization, approval or other action by, and no notice to, consent of, order of or filing with, the Federal Communications
Commission or any other United States federal or state governmental authority that I have, in the exercise of customary professional diligence, recognized as having authority over the Borrower and its Subsidiaries is required to be made or obtained
by the Borrower or its Subsidiaries in connection with the execution delivery and performance by the Borrower of the Credit Agreement, other than (i) such reports to United States governmental authorities regarding international capital and
foreign currency translations as may be required pursuant to 31 C.F.R. Part 128, (ii) those that have been made or obtained and are in full force and effect or as to which failure to be made or obtained or to be in full force and effect should
not result, individually or in the aggregate, in a Material Adverse Effect or an adverse effect on the validity, binding effect or enforceability of the Credit Agreement or any other Loan Document and (iii) such registrations, filings and
approvals that may be required because of the legal or regulatory status of any Lender or because of any other facts specifically pertaining to any Lender. 

4. There is no action, suit or proceeding, or any governmental investigation or any arbitration, in each case pending or, to the best of
my knowledge, threatened against the Borrower or any of the Subsidiaries or any material property of any thereof before any court or arbitrator or any governmental or administrative body, agency or official which (i) challenges the validity of
the Credit Agreement or (ii) except as disclosed in the Borrower’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009 or its Quarterly Report on Form 10-Q for the quarter ended
[            ], 2010 may be reasonably expected to have a Material Adverse Effect. 
  

 -2- 

 5. The Borrower is not an “investment company” as defined in or subject to
regulation under the Investment Company Act of 1940, as amended. 
 I express no opinion as to the status of the obligations of
the Borrower under Section 548 of the Bankruptcy Code and applicable state fraudulent conveyance laws. 
 I am admitted to
practice only in the State of New York, and I express no opinion as to matters governed by any laws other than the laws of the State of New York, the General Corporation Law of the State of Delaware and the federal laws of the United States of
America. 
 This opinion is rendered only to the Administrative Agent and the Lenders under the Credit Agreement and is solely
for their benefit in connection with the above transactions. I am opining as to the matters herein only as of the date hereof, and, while you are authorized to deliver copies of this opinion to such permitted assigns of any Lender and they are
permitted to rely on this opinion, the rights to do so do not imply any obligation on my part to update this opinion. This opinion may not be relied upon by any other person or for any other purpose or used, circulated, quoted or otherwise referred
to for any other purpose; provided that this opinion may be circulated or quoted as required under applicable law or regulation (including pursuant to any applicable judicial or governmental order) and to your actual or prospective successors
and assigns. 
 Very truly yours, 

Hilary E. Glassman 

Senior Vice President 

General Counsel and Secretary 
  

 -3- 

 EXHIBIT C 

[Form of Opinion of Special New York Counsel to the Borrower] 

[            ], 2010 

Frontier Communications Corporation 

Credit Agreement dated as of [            ], 2010 

Ladies and Gentlemen: 
 We have
acted as special New York counsel to Frontier Communications Corporation, a Delaware corporation (the “Borrower”), in connection with the Credit Agreement dated as of
[            ], 2010 (the “Credit Agreement”), among the Borrower, the lending institutions party thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as
administrative agent for the Lenders (the “Administrative Agent”). This opinion is being delivered to you pursuant to Section 4.01(c) of the Credit Agreement. Capitalized terms used but not defined herein have the meanings
assigned to them in the Credit Agreement. 
 In that connection, we have examined originals, or copies certified or otherwise
identified to our satisfaction, of such documents, corporate records and other instruments as we have deemed necessary or appropriate for purposes of this opinion, including: 

 

	 	(i)	the Credit Agreement, 

  

	 	(ii)	the Restated Certificate of Incorporation of the Borrower, 

  

	 	(iii)	the By-laws of the Borrower, and 

  

	 	(iv)	resolutions adopted by the Board of Directors of the Borrower on [            ], 2010.

 We have also relied, with respect to certain factual matters, on the representations and warranties of the
Borrower contained in the Credit Agreement and have assumed compliance by the Borrower with the terms of the Credit Agreement. 

In rendering our opinion, we have assumed (a) the genuineness of all signatures, (b) that each party to the Credit Agreement
other than the Borrower has all necessary power, authority and legal right to execute and deliver the Credit Agreement and to perform its obligations thereunder and that the Credit Agreement is a legal, valid and binding obligation of each party
thereto other than the Borrower, (c) the due authorization, execution and delivery of the Credit Agreement by all parties thereto other than the Borrower, (d) the authenticity of all documents submitted to us as originals, (e) the
conformity to original documents of all documents submitted to us as copies and (f) that insofar as any obligation under the Credit Agreement is to be performed in, or by a party organized under the laws of, any jurisdiction outside the State
of New York, its performance will not be illegal or ineffective in any jurisdiction by virtue of the law of that jurisdiction. 

Based on the foregoing and subject to the qualifications hereinafter set forth, we are of opinion as follows: 

1. Based solely on a certificate from the Secretary of State of the State of Delaware, the Borrower is a corporation validly existing and
in good standing under the laws of the State of Delaware. The Borrower has all necessary corporate power and authority to execute and deliver the Credit Agreement and to perform its obligations thereunder. 

 2. (a) The execution and delivery by the Borrower of the Credit Agreement and the
performance by the Borrower of its obligations thereunder have been duly authorized by all requisite corporate action on the part of the Borrower. 

(b) The execution and delivery by the Borrower of the Credit Agreement and the performance by the Borrower of its obligations thereunder
do not violate any law, rule or regulation of the United States of America, the State of New York or the General Corporation Law of the State of Delaware. 

3. The Credit Agreement has been duly executed and delivered by the Borrower. The Credit Agreement constitutes a legal, valid and binding
obligation of the Borrower, enforceable against the Borrower in accordance with its terms, subject in each case to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and other similar laws relating to or affecting
creditors’ rights generally from time to time in effect and to general principles of equity (including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing), regardless of whether considered in a proceeding
in equity or at law. The foregoing opinion is subject to the following qualifications: (i) insofar as provisions contained in the Credit Agreement provide for indemnification or limitations on liability, the enforceability thereof may be
limited by public policy considerations, (ii) the availability of a decree for specific performance or an injunction is subject to the discretion of the court requested to issue any such decree or injunction and (iii) we express no opinion
as to the effect of the laws of any jurisdiction other than the State of New York where any Lender may be located or where enforcement of the Credit Agreement may be sought that limit the rates of interest legally chargeable or collectible.

 4. Assuming that the Borrower complies with the provisions of the Credit Agreement relating to the use of proceeds of the
Loans, the making of the Loans under the Credit Agreement on the date hereof does not violate Regulation T, U or X of the Board of Governors of the Federal Reserve System. 

We express no opinion herein as to any provision in the Credit Agreement that (a) relates to the subject matter jurisdiction of any
Federal court of the United States of America, or any Federal appellate court, to adjudicate any controversy related to the Credit Agreement (such as the provision found in Section 9.09(b) of the Credit Agreement), (b) contains a waiver of
an inconvenient forum (such as the provision found in Section 9.09(c) of the Credit Agreement), (c) relates to a right of setoff in respect of purchases of interests in loans (such as the provision found in Section 2.15(d) of the
Credit Agreement) or with respect to parties that may not hold mutual debts (such as the provision found in Section 9.08 of the Credit Agreement), (d) provides for liquidated damages or penalty interest, (e) relates to the waiver of
rights to jury trial (such as the provision found in Section 9.10 of the Credit Agreement) or (f) relates to any arrangement or similar fee payable to any arranger (including the Arrangers and the Administrative Agent) of the commitments
or loans under the Credit Agreement or any fee not set forth in the Credit Agreement. We also express no opinion as to (i) the enforceability of the provisions of the Credit Agreement to the extent that such provisions constitute a waiver of
illegality as a defense to performance of contract obligations or any other defense to performance which cannot, as a matter of law, be effectively waived, (ii) whether a state court outside the State of New York or a Federal court of the
United States would give effect to the choice of New York law provided for in the Credit Agreement or (iii) compliance with, or the application or effect of, Federal or state securities laws or regulations or any laws or regulations relating to
the ownership or operation of communications (whether cellular, wireless, broadband, radio or otherwise) licenses, assets or systems or the provision of communications products or services to which the Borrower or any of its Subsidiaries is subject
or the necessity of any authorization, approval or action by, or any notice to, consent of, order of, or filing with, the Federal Communications Commission or any other governmental authority, pursuant to any such laws or regulations. 

 

 -2- 

 We understand that you are satisfying yourselves as to the status under Section 548 of
the Bankruptcy Code and applicable state fraudulent conveyance laws of the obligations of the Borrower under the Credit Agreement, and we express no opinion thereon. 

We are admitted to practice only in the State of New York, and we express no opinion as to matters governed by any laws other than the
laws of the State of New York, the General Corporation Law of the State of Delaware and the Federal law of the United States of America. 

This opinion is rendered only to the Administrative Agent and the Lenders party to the Credit Agreement on the date hereof and is solely
for their benefit in connection with the above transactions. In addition, we hereby consent to reliance on this opinion by a permitted assignee of a Lender’s interest in the Credit Agreement, provided that such permitted assignee becomes
a Lender on or prior to the 30th day after the date of this opinion. We are opining as to the matters herein only as of the date hereof, and, while you are authorized to deliver copies of this opinion to such permitted assignees and they are
permitted to rely on this opinion, the rights to do so do not imply any obligation on our part to update this opinion. This opinion may not be relied upon by any other person or for any other purpose or used, circulated, quoted or otherwise referred
to for any other purpose. 
 Very truly yours, 

JPMorgan Chase Bank, N.A., 
 as Administrative
Agent, 
 and the Lenders 
 In care of:

 JPMorgan Chase Bank, N.A. 

    270 Park Avenue 

        New York, NY 10017 

 

 -3- 

 EXHIBIT F-1 

FORM OF 

NON-BANK TAX CERTIFICATE 

(For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the CREDIT AGREEMENT, dated as of March 23, 2010, is between FRONTIER COMMUNICATIONS CORPORATION, the LENDERS
party hereto, and JPMORGAN CHASE BANK, N. A., as Administrative Agent. Capitalized terms used herein but not otherwise defined shall have the meaning given to such term in the Credit Agreement. 

Pursuant to the provisions of Section 2.14(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code,
(iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a “controlled foreign corporation” related to the Borrower as described in
Section 881(c)(3)(C) of the Code, and (v) no payments in connection with any Loan Document are effectively connected with the undersigned’s conduct of a U.S. trade or business. 

The undersigned has furnished Administrative Agent and the Borrower with a certificate of its non-U.S. person status on Internal Revenue
Service Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent in writing and
(2) the undersigned shall furnish the Borrower and the Administrative Agent a properly completed and currently effective certificate in either the calendar year in which payment is to be made by the Borrower or the Administrative Agent to the
undersigned, or in either of the two calendar years preceding such payment. 
 [Signature Page Follows] 

					
	 [Lender]

		
	 By:
	 	  

		 	Name:	 	
		 	Title:	 	
	
	[Address]

 Dated:
                                        ,
20[    ] 

 EXHIBIT F-2 

FORM OF 

NON-BANK TAX CERTIFICATE 

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the CREDIT AGREEMENT, dated as of March 23, 2010, is between FRONTIER COMMUNICATIONS CORPORATION, the LENDERS
party hereto, and JPMORGAN CHASE BANK, N. A., as Administrative Agent. Capitalized terms used herein but not otherwise defined shall have the meaning given to such term in the Credit Agreement. 

Pursuant to the provisions of Section 2.14(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such
Loan(s)), (iii) neither the undersigned nor any of its partners/members is a bank within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten percent shareholder of the Borrower within the
meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) no payments in
connection with any Loan Document are effectively connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or business. 

The undersigned has furnished the Administrative Agent and the Borrower with Internal Revenue Service Form W-8IMY accompanied by an
Internal Revenue Service Form W-8BEN from each of its partners/members claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the
undersigned shall promptly so inform the Borrower and the Administrative Agent and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent in writing with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

[Signature Page Follows] 

					
	 [Lender]

		
	 By:
	 	  

		 	 Name:
	 	
		 	 Title:
	 	
	
	[Address]

 Dated:
                                        ,
20[    ] 

 EXHIBIT F-3 

FORM OF 

NON-BANK TAX CERTIFICATE 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the CREDIT AGREEMENT, dated as of March 23, 2010, is between FRONTIER COMMUNICATIONS CORPORATION, the LENDERS
party hereto, and JPMORGAN CHASE BANK, N. A., as Administrative Agent. Capitalized terms used herein but not otherwise defined shall have the meaning given to such term in the Credit Agreement. 

Pursuant to the provisions of Section 2.14(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the
Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (v) no payments in
connection with any Loan Document are effectively connected with the undersigned’s conduct of a U.S. trade or business. 

The undersigned has furnished its participating Foreign Lender with a certificate of its non-U.S. person status on Internal Revenue
Service Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Foreign Lender in writing and (2) the undersigned
shall have at all times furnished such Foreign Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding
such payments. 
 [Signature Page Follows] 

					
	 [Participant]

		
	 By:
	 	  

		 	 Name:
	 	
		 	 Title:
	 	
	
	[Address]

 Dated:
                                        ,
20[    ] 

 EXHIBIT F-4 

FORM OF 

NON-BANK TAX CERTIFICATE 

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to the CREDIT AGREEMENT, dated as of March 23, 2010, is between FRONTIER COMMUNICATIONS CORPORATION, the LENDERS
party hereto, and JPMORGAN CHASE BANK, N. A., as Administrative Agent. Capitalized terms used herein but not otherwise defined shall have the meaning given to such term in the Credit Agreement. 

Pursuant to the provisions of Section 2.14(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the participation in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such participation, (iii) neither the undersigned nor any of its partners/members is a bank
within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a
“controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) no payments in connection with any Loan Document are effectively connected with the undersigned’s or its
partners/members’ conduct of a U.S. trade or business. 
 The undersigned has furnished its participating Foreign Lender
with Internal Revenue Service Form W-8IMY accompanied by an Internal Revenue Service Form W-8BEN from each of its partners/members claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform such Foreign Lender in writing and (2) the undersigned shall have at all times furnished such Foreign Lender with a properly completed and currently
effective certificate in either the calendar year in which each payment is to be made to the under-signed, or in either of the two calendar years preceding such payments. 

[Signature Page Follows] 

					
	 [Participant]

		
	 By:
	 	  

		 	 Name:
	 	
		 	 Title:
	 	
	
	[Address]

 Dated:
                                        ,
20[    ]

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